Providence Resources Forum

My sources revealed JPM, HSBC has reduced significantly; JPM currently around 1%. However, Henderson is increasing its holdings

cheers Markie

In fairness if there were constant RNS about nothing I would accuse him of waffle and PR. He has kept his mouth shut when it comes to a deal and hopefully the first we see of a deal is an announcement. Hopefully v soon

His PR and talking skills are marvellous but execution skills nill. It's about six months since the statement about farmout

When you think about it it makes sense. Very rare for a project to be financed by debt only. Usually a mix to get the best cost of capital for the profect

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Godot could you please provide sapinda link where u got below info

Difficult to believe TOR statements, am drenched in this dont want to touch further

I got this from Sapinda.com the website of the owner of Sequa. What I find very interesting is the last sentence. A lot of posters have been putting the total funds for the project at 300m out of which pvr would get some and rest be used to develop Barryroe. But the 300m is only the debt portion of the investment. There could be another 700m of equity to go along with it for all we know

Sequa Petroleum agreed to issue an up to $300M Convertible Bond due 2020 Sequa Petroleum N.V. (SPNV) has engaged Anoa Capital S.A. for the issuance of senior, unsecured convertible bonds due 2020. The company will determine the launch of the convertible subject to Government approvals. The transaction is expected to close on or before 30th January 2015. The proceeds of the convertible bond transaction will fund the debt portion of the financing for SPNV’s identified acquisitions pipeline. The equity portion associated with those acquisitions will be funded from alternative sources