Providence Resources Forum

Have they no shame? Nit once have they issued a sell. Just decreased price target from 22 pounds to 24 p. How do they sleep at night? I am hoping it is incompetence. Otherwise they are complicit in this great big scam of a company and duping ordinary people out of their hard earned money.

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JOS presentation to Engineers Ireland members in Cork seems like such a distant memory now. We really would like to see that drill bit turn.

Thanks Sobeit for plagiarising my LSE post. However you failed to copy the most important bit, that Sequa gives no mention whatsoever of the PVR deal, proving that it has no legal standing.

By Ahmed Awad: Kuwait’s Oil Minister Ali Al Omair said the upcoming meeting of OPEC will likely reach ‘positive’ results that will trigger stability in markets.

Speaking on the sideline of a conference held in Kuwait Sunday, the minister added that the current decline in crude price was caused by stronger production and weaker demand.

Al Omair also said a recovery in oil prices would be for the best interest of producers and consumers alike, as improved prices fuel investments in oil sector.

Believe OPEC Will leave Its over all present production level circa 32m barrels unchanged at Its meeting on December 4th but Will announce that Iran Will be part of cuota. Thus other OPEC members Will Have to cut their production to make room for Iran

Sequa's 2014 Accounts out today. Barryroe deal gets zero mention in the 67 pages. Have now expressed reservations on closing its Norwegian deals. Consistent if nothing else.

Providence has 75 million shares that it can issue. If it were to give 20m shares to Landsdowne in a Merger(1 for 7), this would leave 55m shares that it could issue to Sequa (for example). If Sequa were to pay 80m (i.e. for 25% of combined company 55/215m) this would give the company 80m minus 20m due to melody in June 2016. They could use this 60m to drill two appraisal wells one in Barryroe and the other in Spanish Point. If both successful the company would have 100 % of Barryroe (minus NPI 4.5% to San leon) plus 58% of Spanish Point. Thereafter circa 2017/18 both fields could either be farmed out or project finance sought to develop them. Given that Providence also has Drombeg, Newgrange, Dunquin, Dalkey etc this company would likely become a very very attractive takeover target. Watch this space !!!!!!!!. Oil will rebound once all the cancelled capex from Majors etc for 2015 and 2016 starts to kick in coupled with the natural decline on conventional oil (6.75% on average per year) plus high shale decline rates

We have no reason to believe that there will be any news relating to a farm out before Christmas. Roll on the placing train in the New Year. More stories of companies who nearly did a deal to buy the PVR & the ever so close farm out that never actually happened. It’s beginning to get very predictable here.

We have no reason to believe that there will be any news relating to a farm out before Christmas. Roll on the placing train in the New Year. More stories of companies who nearly did a deal to buy the PVR & the ever so close farm out that never actually happened. It’s beginning to get very predictable here.