Providence Resources Forum

Anybody see details. I cannot access via phone.

Great news

Fingers crossed

Think it's going to be quiet until we get news on whether our suspect Sequa manages to free up or raise funds to proceed. As you say, they have a number of alternative sources. See Sobeit worried TOR Snr sold his shares. Think that's highly unlikely and that ACC took them as collateral for unpaid loan. Thought I saw that JP Morgan in addition to their other holding, now had 8.81%. If so expect RNS to say TOR Snr has only about 1% left. As stated all repossessed NOT sold.

Morning JR. Quiet today. Still hopeful of some good news. Nothing on Euronext. We are all assuming that it is Sequa. Would be a surprise if it were another party. Also we all assume that funds will be raised in Europe. This can also be done in USA or in ASIA

With the exception of Corsoloran, see it's the usual suspects here, just waiting for Godot

Spuddy, there are probably operational time constraints for drilling this year, so time pressure on that front. I would love to think PVR took a substantial deposit once talks went exclusive or that there is a penalty for non-completion, but until we see the terms of the deal, it's all speculation. What was dsiad that was interesting in a response you got from PVR, is that the farminee had a number of projects on the go and could decide to forego other projects and focus on Barryroe (or not). My advice is "watch this space"

I would imagine there are but that we won't find out till a deal is confirmed or not. As they said the commercial terms of the agreement were to be kept confidential.

What are your Opinions JR/Godot/Shadow. Do you think Providence have a limit on the time they will wait for Farmanee to raise funding. Do you think there is a penalty clause included in the agreement on commercial terms announced i.e. if farmanee says no cash raised do you think Farmanee would have to pay some cash to Providence. If not than it would seem like it is an option for the Farmanee to do what it likes when it likes and on terms beneficial to itself.

[link] transocean ceo steps down