Providence Resources Forum

Building the portfolio. Hope it works out in the long run, but as they say it is all down to Barryroe now, so we live in hope. [link]

Hi Callasjunkie , yes I think that is where I went wrong with PVR - I didn't discount enough for the quality of the management!

who sold 1.1 million shares at this price…and why

Hi Spuddy, fair comment and yes might distress the share price, however, the AGM is aimed at investors not farminees. If farminees don't appreciate what was said about horizontal and vertical wells they shouldn't be in the game. Hence not a reason for slowing down farm in. I just wish it would hurry up.......

Just to highlight a previous point regarding negative comments from a particular person who holds no shares in Providence please see the response from Landsdowne CEO to a question yesterday at AGM regarding horizontal drilling.
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I asked about horizontal drilling,saying that there were a lot of complaints in various places online that one was not completed with the 2012 drill. The need for horizontal drilling is a red herring, (something basically perpetuated by Jimmy over on iii), and before the myth becomes real in peoples's consciousness, it is worth pointing out that Boldy said that not all companies neccessarily favour that approach in these shallow formations anyway, and although some might use that technique, others will prefer to put a few vertical holes down instead when it comes to production wells. Not an issue
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Perhaps some day: [link]

to be fair warren has a few things to say about managment too: What kinds of management does Warren Buffett like? He likes managers who are frugal – the CEO drives an ordinary car and lives in an ordinary house and does not feel anything weird about that. The managers he would avoid are those who have a large tendency to want to brag. He also likes managers who are not self-aggrandizing. His ‘sort of guy’ would be the manager who would not waste money on painting his office.

Buffet told--"The beauty of stocks is that they do sell at silly prices from time to time. That/s how Charlie and I got rich".

Typo I brought since barryroe discovery

thanks Spuddy since the barryroe discovery, last year bought hugely after farmout announcements, few times