Providence Resources Forum

Sobeit, For God sake stop asking Jimmy, he will throw throw unnecessary dirt, he has technical knowledge and acting for a company or someone who has negative agenda. I bet because of him unnecessary delay in farmout as he is throwing muck out and putting doubts in the minds of would be farmout folks.l

I remember Jimmy saying a while ago that he knew people who had being in the data room for Barryroe. and that they were not going to invest, or something like that anyway. I remember being very surprised by those comments at the time, especially by the fact that he knew people who were attending the data room. Would be nice to hear a bit more about it, but I have a feeling that it may well have being an attempt at the time to undermine the ongoing talks.

A Fund Raise after a Succesful Druid drill Would be very smart, at a much higher share price and involve liittle dilution. On. Succesful campaign share could easily go a Euro. Issue 50 - 100m shares and drill, Barryroe, SP buy LOGP - Fastnet licences thereafter becoming King in Celtic sea where Super Majors are sniffing !!!

There Will be no placing before Druid Drill. There Will possibly be Another FO. Who is This Jimmy Chap. He has no shares in Providence but is now talking about we When referring to Providence. He has no Shares, has never Been to a Providence meeting and presents himself as An expert although the other day he admittted that he has no information on Barryroe other Than that in Public. His comments on Barryroe Have been refuted By all the Board at Providence. He then concludes his damming of Providence with a mealey mouthed praise of Druid. Jimmy reveal yourself. A basher if ever there was one. Cannot See any other explanation for your fetish with Providence as You Have admittted to owning no shares in company. Institutions 100% behind the company. Dr McCoss comming on Board. Would say he knows more Than you !!!

equity securities for cash would surely mean a piece of druid for cash.

Sobeit - Annual report showed the top 14 or 15 investors only hold 56% of the company. I doubt there are another 20 odd holding just below the 3% threshold. As previously stated, this share appears to be significantly more liquid that TOR statement would imply.

seems to me if that other company withdrew to go an buy something bigger (then money wasn't an issue) it had more to do with the risk reward profile. economies of scale. that barryroe simply isn't big enough in todays oil environment. and that can't be fixed. however if druid came online then barryroe would be a nice cherry on top. but can't stand on its own.

Thing is it has never really been dealt with openly by the company either. If they came out and said "yes, there is something wrong with barryroe" i think there would be a sense of relief. and confidence would be restored. ie there is a problem lets fix it. but TOR keeps maintaining there is nothing wrong. so for me at least there is a whiff of something amiss. a world class resource and no one wants it? sounds a bit implausible. and sure there could be many valid reasons. maybe TOR just can't cut a deal. but he cut a deal quick enough with Cairn over Druid. Sure maybe it is the oil price. But again Cairn bought into Druid in a heart beat. so things just don't add up. unless there is a curse on barryroe? The Curse of Barryroe... does it exist maybe?? Or the stuff of fiction. All very iffy in my opinion.

and that sums up a very complex story in a nutshell. FairPlay

I think he only has to buy half them before August but not sure