Providence Resources Forum

Godot, you're right about Sequa EGM. Seeking to delay accs to Nov on a very thin pretext. Spuddy, the presenation accompanying Cairn's results (see website) show no action on Spanish PPoint up to and including 2017! I posted this info on two occasions in recent weeks and no one picked up on it.

Well lets hope that Barryroe gets sorted out soon. We could do with some good news. Still would like to see a Providence merger with Landsdowne !!

Perhaps but from reading it a while back it seemed to be more about permission to extend a filing deadline of accounts as they could not get a correct valuation of a key asset in time for the accounts. Not sure if they can use the egm to bring up and sort out other matters but would assume not as they would need to outline them in advance to shareholders.

Well lets hope we hear something on barryroe soon. Do you think Sequa EGM on april 24th regarding impairment for Kazak prospect is delaying things

I think pvr had a role in pushing out the drilling of SP. It really doesn't suit PVR to drill it before Barryroe is sorted as they don't have the cash to do it at the moment, Better to just sit on the oil until someone pays us.

Hello there Godot: Did you see Jimmy´s comments regarding Spanish Point. I could not access the link. He says that Cairn have excluded SP from their 2016 campaign. Is this true do you believe. I have not seen any announcements

Sequa have their EGM on the 24 April to deal with the provisioning for impairment costs regarding their Kazak project. Wonder has this been delaying the financial restructuring that TOR mentioned !!!!

I can see where you are coming from Spuddy but don't think either Lansdowne or PVR have the money to spend on solicitors and advisors to get a deal like that done. It might be seen as a lot of money spent by two companys to put them in a similar position overall.

You could be right Mmmmm. Although I am still positive about the eventual outcome for Barryroe. If it does happen then the shares will go up to a few pounds again. But where I think they will make really big gains is on the iseq where the exchange euro dollar exhange rate will keep pushing the value of oil up. In the long term though as long as PVR have the cash to sit on the oil someone will eventually buy it. I don't think PVR management would have accepted the deal they did or gotten the institutional support they have without the Sequa deal having a good chance of success.

First thing Godot would be a tmerger between Landsdowne and Providence. Landsdowne 1:5 shares with Providence i.e. 32 M shares. Thereafter wait to see what happens with Sequa and once known a merger with Fastnet