Providence Resources Forum

Of course you could be correct MAMMS but I believe we may still get some positive news on this. Providence announced in December that an agreement had been reached with Melody but have since offered no details. I believe the share price would have fallen even further if the company were anywhere near examinership. Not happy of course with the messing that has gone on in Providence but I would not sell shares at this price. The largest shareholder of Landsdowne extended the loan he made to Lansdowne (to himself really) by six months also stipulating that he wanted an additional premium to the loan terms for doing so. He is very unlikely to have added the clause regarding an additional premium if he did not believe a deal was on the cards or some good news with Barryroe. Landsdowne like Providence has no revenue stream and thus after six months he would find that his shares would be worth even less. He must believe a revenue source or cash will be found by September. WE shall see. You are correct What a Balls. I rembember selling my shares in Cove energy for 115 pence after getting fed up.Three weeks later I had a look and they had tripled. You never know !!!!

Hello there Sully. Would not sell your shares if I were you. Like myself and many others we are all sitting on big losses if we sell. Am of the belief that something must be going on. Do not believe there will be another equity raise in the near future. Preliminaries should be out in May. Providence stated that an arrangement was agreed to deal with Melody Loan in the event of no Farm out news. I believe that perhaps Schlumberger may be guaranteeing the loan or something like that. Also do not believe the main shareholder of Landsdowne would have agreed to extend his private loan to the company for six months with a premium of I believe 20% unless he believed some news was on the way. Also do not believe all major shareholders and Pagaent would be so quiet if the situation was really dire. So I believe something is going on behind the scenes and that after all the bad news we will hear something positive soon enough.

Is this share doomed. Or is there some good news to help it rocket to €2 or €3. I was treating this as forget i have shares and wait. But now i wonder should i cut my losses and take what little i have left. Loads lost. Very angry with myself. Pure waste. What we need is a detailed message of what is happening. Things will happen soon and lots of ppl in the data room is ridiculus

Is this share doomed. Or is there some good news to help it rocket to €2 or €3. I was treating this as forget i have shares and wait. But now i wonder should i cut my losses and take what little i have left. Loads lost. Very angry with myself. Pure waste. What we need is a detailed message of what is happening. Things will happen soon and lots of ppl in the data room is ridiculous

I suppose if they manage to get the drilling proposal from an alliance of interests up and drilling it would be a big help. I find John O' Sullivan's comment that it is has to be done soon, or it will be too late to do it this year, very honest. I remember when the share price fell from something like sixty pence to forty pence, he seemed genuinely shocked. I think he is someone who says it like it is, perhaps to the annoyance of the rest of the board, but I think his comments show an underlying faith in the company.

Yes we are in deep sh1te not deep water! Doh!

@ Sobeit - they're talking about deep water drilling costs. Barryroe is not considered deep water.

More positive views:

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Hello Lastcall: Believe we Will hear some good news By end of June or Loan Will be extended. Believe Schlumberger are involved in some way and maybe guaranteeing The loan

So when is the next placing to keep the lights on?