Providence Resources Forum

You have no idea how much I hope you are right Sobeit!

Well surely it doesn't take a month to say no? So hopefully they are at least still talking to a potential partner/lender ?

The craic is great from all the contributors the day would not be the same without them and I have a lot of shares too good luck

Very true

Haha reading these discussions just wouldnt be the same without sobeit. Insightful and entertaining.

18 bankruptcies in March and April. According to Fuel Fix, 18 North American oil and gas companies filed for bankruptcy protection in March and April as creditors began to cut off lending. The bankruptcies accounted for a combined $8.9 billion in debt. That takes the total bankruptcy list to 69 companies since early 2015.

Oil discoveries at 60-year low. New oil and gas discoveries dropped to their lowest level in six decades as companies cut exploration budgets. According to IHS, the oil industry only found 2.8 billion barrels of oil and petroleum liquids in 2015, the lowest total since 1954. The dismal result is largely due to low oil prices, which has forced draconian cuts in spending on exploration. Industry wide expenditures on exploration have fallen from $95 billion in 2014 to an expected $41 billion in 2016, with more cuts coming next year. But some of the largest companies also saw discoveries start to slow in the years leading up to the crash in oil prices. The low levels of new discoveries, which mostly come from offshore fields that would require large-scale development, will not be felt for many years. Wood Mackenzie estimates that the world could see a supply shortfall of 4.5 million barrels per day by 2035 if the industry does not pick up the pace of new discoveries.

its been nearly a month already!

Will we rise victorious from the ashes to soar high again or will we smoulder and burn and give off noxious fumes till we are cold and forgotten and beyond rescusitation...??

crikey i can't stand this waiting..