Providence Resources Forum

Haha Jimmy worrying about Spanish Point and equity dilution. Sure we are going to be rolling in it from Barryroe.

Stockbrokers view: [link]

ACC Bank, a bank creditor of embattled former billionaire Sir Anthony O’Reilly, has told the stock exchange that it has “a notifiable interest” in almost 6% of Providence Resources, the listed oil and gas explorer.

In a stock market announcement filed last week, ACC Investments, a subsidiary of ACC Bank, said it had an interest in 3.8m ordinary shares of Providence Resources, or 5.9% of the company.

The statement does not make clear whether the shares are held directly or as security.

ACC Bank, which is part of Dutch bank Rabobank, declined to comment on the announcement. A spokeswoman for Providence Resources said the company was unaware of any disposal of shares. “We have received no notification of any reduction in shareholdings,” she said.

On Friday, its website issued an updated shareholder list that showed O’Reilly remained the largest shareholder, with a 15.45% holding. ACC Investments is now listed as

Re Food for thought. Back when the share price was 700p, it was widely believed that the oil majors would be queing up to farm in to Barryroe , hasn't happened , personally I believe this oil discovery is seen by the majors as still a bit risky. The closer we get to the summer with no deal, the lower this will go, 55p

Can legal action be initiated against TOR, he has lied to shareholders about the deal few times last year. Can anyone throw the light on this please, because of his statements ended up buying this stock it's keep falling and to average down the losses dumping more at it.

Has TOR actually achieved anything of any value for pvr during his tenure, as far as I can see he has been paid way over the odds and there is absolutely nothing to show for it. How that man has the nerve to churn out the same old rubbish whenever he speaks is beyond me,. A complete revamp of the board is needed in my opinion.

Share Price: I have seen that happen myself a few times and the only explanation that I can guess at,is that there is a very large volume of selling in the days before your buy, so when your buy, it is soaked up and makes no upward impact on the share, so it shows up as a sell. As I say that is just a guess on my part.

Byford Dolphin drilling rig has arrived in Harland and Wolff Belfast for refurbishment works. Is there a possibility that this rig will drill Spanish Point after this refurbishment? Dolphin Drilling have worked with Cairn Energy previously.

I wonder do PVR have any plans to carry out any drilling in 2015. If there isn’t an announcement in the next couple of weeks, it’s highly likely that the drill bit won't turn at all this year...

Hi JR, fair enough, are you able to ressurect the link about that presentation? Didn't pay too much attention to the surround context, as in, is it akin to a marketing presentation or the like, in which case it is to do with the day to day running of the company and no RNS would be required.