Providence Resources Forum

Hola Spuddy, still think the total deal will be $300m for 50.1% of Barryroe. With cash $40m to PVR and $10m to LOGP. This gives a carry of $250m on production costs.

Hello there JR what do you think final deal will look like

in relation to buying again, Mars_2050 has just posted a very good review of today's RNS indicating PVR as a BUY. Just 2 points in relation to that, i) Sequa have still to raise enough cash, if they can't then farmout is delayed for about a year. ii) given share price reaction to today's RNS the markets are slow to attribute any value to PVR until it's tangibly backed up by cash or oil. Both of the above mean it may NOT be a short term investment. If you buy today be prepared to be sit and hold and you'll make money.

Does anyone know why Providence and Landsdowne Share Price Feeds do not appear to be updating for Providence or Landsdowne this morning on this website. They are updating for Fastnet. strange !!!!

I tempted to purchase again , what do you think JREwing ?

I just can't believe that there are people out there who would sell their shares for 58 pence after this mornings update.

No real movement yet on share price

Spuddy; DAVY VIEWThe news that Chyrsaor has left the Spanish Point project says a lot about the stress companies are under at present in maintaining their interest in frontier projects, given the current oil price and focus on balance sheets and expenditures. However, it does not say anything about the quality or otherwise of the project and the remaining licence holders are firmly committed to drilling in the current year.

How are things JR

Providence sya that the new estimate of Drill costs to Providence for Spanish Point are 43 percent. Think Providence were capped at 20m for first drill for their portion. Lets say 40m for both. Providence would thus have the option to go for first drill and pay 40m or else farm out to Cairn or some other party the amount they purchased from CEPIL. Do you think Providence will take the risk with extra drilling costs or look to farm out

Spuddy, give 'em a chance, they don't even have enough money raised for Barryroe yet Cairn will look after Spanish Point.