Providence Resources Forum

I did not speak to Providence. Still believe that we may come out of this OK. Either TOR and BOD come up with a deal ASAP or they are out and a new CEO and BOD brought in - (May need an equity placement). Second option not great but a lot better than the status quo !!!!

This looks like orchestrated on us, stopping trade is scary.

Hi Spuddy, Did you able to speak to providence, this looks like others had inside knowledge

1st March 2016 they held 4.7% ---------- ---------- ---------- ---------- - PROVIDENCE RES. Providence Resources P.L.C. : Notification Of Interest In Share Capital 15/04/2016 11:16am UK Regulatory (RNS & others) TIDMPVR Providence Resources P.l.c. ("the Company") Notification of Interest in Share Capital Providence Resources P.l.c. have been informed by BlackRock Inc. that with effect from 12 April 2016; BlackRock Inc. now hold 4,759,078 ordinary shares of EUR0.10 each in the capital of the Company representing 3.39% of the issued ordinary share capital. Críona Ryan Secretary 15 April 2016 End

At least now we are likely to get some closure on this one way or another. We shall know soon enough I imagine. I presume the company still has an obligation to publish its preliminary results in may. That will be interesting !!!!!!!. If no deal done on Barryroe or none assured in very near future I think TOR and BOD will be told to go. If the latter were the case and new BOD plus new CEO (one who knows something about OIL) were installed the company could look for example to raise perhaps 10M on equity placement. We shall see soon enough though !!!!

I can't believe they are burning through $4m every 6 months - that's a staggering number. I'd be happy to hear they still have $8m in cash from loan but would not be shocked to hear this figure is overstated significantly. I will continue to hold out hope there is a deal that can be announced prior to lifting the suspension.

Any word from HQ? Are they still in jobs i wonder?

They need sell assets to keep going, looks like everyone got lightening strike from our master.

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When did they know it was all hogwash? Before daddy sold?