Today is the latest deadline that exploration company Providence Resources has set for receipt of $10 million from Chinese backer, APEC.

The Dublin and London listed company last extended the deadline for receipt of the money last week.

Providence said if the money was not received by today, it would have to put alternative financing arrangements in place.

The money was originally due on June 14th but the company has extended the deadline on several occasions since then.

Drilling at the Barryroe project off the south coast is scheduled to take place in the final three months of this year.

Earlier this month Providence announced the "re-engineering" of its business, which it said reflected the changes evident in its operating environment.

This saw the firm lay off nine of its 13 staff, while it also announced plans to slim down its board and vacate its Dublin office in favour of a smaller serviced facility.