Providence Resources Forum

SP movement is inexplicable in my opinion, and very concerning - another margin call paid!

Institutions who bought at 12p at placing offloading shsres to another investor at An agreed pre-agreed price eg TOR snr or Maybe PVR looking to buy out LOGP with share issue to help clean up Barryroe dealings

Why is everbody adding fuel to the fire. Talk of a placement is just that. If a placement were to take place it Would be in the interests of the existing Institutional Investors to do it at a much higher price and hence lower capital gains tax if shares rise thereafter on Druid drill or larger tax write offs if shares fall following Druid drill.

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Totally agree with You. That is exactly the situation as it stands. The paid basher Will no doubt Have a problem with it though !!!!

Compared with bankrupt last year we have a company with no debt and 30 million cash.We have a very strong oil savvy board with the addition of Pat Plunket and Angus McCoss.We have an impending drill for 5 billion barrels of oil with the most efficient rig available based on advice from the best company in the world {Schlumberger}at a cost of 18 million and the possibility of a further farm out reducing the risk to zero.still maintaining 30 per cent interest.Hands up all who think that speculation and negative comment is in the best interests of shareholders at this point in time

Some positivity please.

Does anybody really Believe that Davys attributing 10 % Success rate to Druid drill means anything. So Schlumberger with all their expertise carry less weight Than Davys. Jimmy is very rigorous it seems. By the way Jimmy explain to all your interest in investing Many many hours in commenting on PVR ( a company in which You Have no shares). You are a paíd basher it appears or else Have a personal dislike of PVR for some reason.

Jimmy, Why are you so keen on pvr assets? Cant you comment on other plenty of companies in lse.

Jimmy is a Paid basher !!