Providence Resources Forum

Can anyone tell me where the conflicting RNS's are that atlanticshore is referring to? I have read the RNS's and can't see it but could be misreading them, cheers

Just read the wikipedia biograhical note on Lars Windhorst, the co founder/owner of Sabinda, the holding company of Sequa Petroleum (only incorporated in Aug 2013 with $25m capital from Sabinda for only speculative project in Kazakhstan). Made $4m loss in 1st 4 mths accounts. If Wikipedia article is correct, Windhorst knows far more about fighting fraud allegation, bankruptcy and paying settlements to the German State than he knows about the oil business. So far the only plug that Sequa is the financier is the gushing Vincent Ryan of the Murdoch Times. If its true, Providence is truly scrapping the barrel.

pump and dump. how can this be legal? given the broker valuations how can it be trading at such a price as this. either they were pumping up the shares or information regarding barryroe was withheld.

Can't see TOR being able to survive what would be a massive dilution at current prices. For your own sake Tony, please find alternative funds.

Our shares being the Dining Room Door!

This is me ringing Tony O'Reilly [link]

i don't mind getting rns any time. better than nothing.

Why the RNS today ? Does the company need to respond everytime its shareholders are prepared a take a loss & dump shares

Farm out still on track and conditional on funding. The alternative funding being examined (nothing agreed) is likely only in the case of Farm Out delay or not happening. I would imagine no rights issue but a convertible bond or some sort of secured loan to pay for drill at Barryroe. This is a good RNS

Think rights issue very unlikely. Think it is just a rumor to drop share price. If a rights issue were to occur it would be an admission that Barryroe Farm out with this Interested party had failed. Don't think Providence would have issued RNS announcing commercial agreement to suddenly thereafter announce rights issue. Also an RNS would have to be issued prior to any rights issue stating Barryroe deal off. So think Rights issue not going to happen. We can expect some money from Transocean case. If Barryroe Farm out Falls through it will be put on hold. No major shareholder is going to want a rights issue here.