Providence Resources Forum

Circle oil is about to go bust today its shareprice tanked, its about a year back or more Mr.Jimmy was advising circle oil is a better bet than providence. What does he say now.

Believe the situation will turn out better than many expect. Obviously not in default as this would have to be announced. Update from Providence: regarding Melody, AGM and Preliminary result dates. Response: company hopes to address these issues by way of press release in comming weeks

i can't see how this is going to come good i have to say..

so if we can't renegotiate loan with melody we are then in technical default - they would have to tell us straight away wouldn't they? ie. close of business today or else monday morning?ie. if we haven't heard anything by monday can we assume the loan is being extended?

Sent an email to Providence requesting update regarding Melody, AGM and Preliminary result dates. Response: company hopes to address these issues by way of press release in comming weeks

It really is mindboggling with one day to go that we have been told nothing - if new arrangement not in place with Melody by COB tomorrow then it's Examenrship on Monday. My money is on the debt having been swapped for equity, with equity priced circa 7p and maybe a new US$20m credit line.

I've circa 50,000 shares in PVR, thought they were great value at the time. My gut still says PVR will come good once we come out of this suspension with some positive news.

Believe we will See one of the following shortly. 1: Farm Out of Barryroe. 2: An investor taking. Circa 25% stake in Providence (for 40/50m). 3: A Deal to drill Barryroe for oil and gas ( this News Would be acompanied By plans for An equity issue to Pay debts and fund part of drill). Any Deal to drill Would cause share price to rise and make fund raise easier. Supply Worldwide is starting to fall and oil price narrowing contango plus stable futures price is moving things in our favour.

san leon suspended its shares in january sometime. pvr and lansdowne only just over a month ago. i would think the two are entirely unrelated. i think barryroe is a dead duck for whatever reason i don't know. i'm hoping that druid and drombeg along with schulemberg are going to save the day for us. i expect massive dilution but hopefully we will survive.

Are we any clearer on why all these companies have had their shares suspended? If PVR are spending 4 million every 6 months I'd imagine they are looking for tens of millions