Providence Resources Forum

Still believe we will see an announcement on Barryroe before AGM. Sequa Funding should be clear once remaining $96M are (sold or not). This information should be available sometime during the week June 8th to 12th. Surely Providence (if Sequa is the Supposed partner for the Barryroe Commercial Agreement) will ask Sequa to clarify the situation one way or the other. Thus expect a yes or a no on Barryroe prior to AGM. We also have the additional parties floating around in the famous data room. One of these might bite as Sequa get close to sorting out their funding issue

if they fire him right now--its creates more panic

The Board should do something about the CEO...

tor should do something.or without deal next 1 june we be at the zero/

here is simple truth--if bal-roe project dont go ahead cost cutting dont helps, if deal will be done-then they are not needed

Can anyone tell me what the company sequa petroleum (barryroe) has done since it was set up? What was the urgency to have it set up in the first place when a shelf company can be set up in a day. It can't have anything to do with barryroe if it's not party to the deal. Looks like a smoke screen to me. Don't see why they would have to announce anything about sequa as I don't recall them announcing sequa as a potential partner in the first place, that was all speculation. Will be interesting to see sequa petroleum barryroes first filed financials when they materialise which I guess won't be until it starts trading

I would Spuddy has very squarely hit the nail on the head with the analysis...

Hello Sully
Providence obviously know more about the Sequa Fund raising (if Sequa is potential farminee) than we are being told. If this were not the case I believe that the company would have to issue an RNS saying that no deal with Sequa is possible. Sequa are raising funds for a reason. It costs Sequa money to raise this funding as interest payments have to be made on the bonds issued. So I do not think they would play around with this. I think TOR is hoping for a breakthrough by the AGM and he is probably betting that Sequa will have news by second week in June. In parallel we do not know the level of interest in the so called data room. If any of the parties are really interested they may look to close the deal before Sequa finalize their funding issues. In a way the article in the examiner serves to pressure both Sequa and Data Room players

hope you are right and we do make progress before agm.

hi spuddy. it seems so strange how providence have no clue how the sequa fund raising went if it is sequa. pvr sound desperate. but is this what sequa wanted?