Providence Resources Forum

sells only work out at 0.0037% of shares, the deal is still being done and will be announced when they are all ready. nothing we can do about it we have made our choice and now sit and wait the outcome. i would hope we a reasonable deal we end up back around the 1.75 to 2.00 to start with then see what happens at Spanish Point . also the 3d Seismic results for Dromberg should be available in March

Double! If a deal is done this will fly.

PVR has the rights to a potential multi billion dollar oil field. They have waited for a good deal. I think you are over reading small volume affecting to sp. In so far as the sp going up before a deal. They kept the indian deal very secret so I would expect the same again. In fact the only reason we know about this deal is not the papers but one of our own doing his research.

Here we go again. If there is a deal I have a feeling its going to be disappointing to alot of us, there are always insiders and people in the know who buy up shares when a good deal is imminent, and yet all we have is a share price that is flirting with its all time low. I think that our over paid bod will probably manage some sort of poor deal that will keep our company on life support for a little longer , so as they can continue to collect their paycheck. godot and Mmmmm have been very quiet the last couple of days after slagging poor jimmy who imo is one of the few who makes any sense.

Hi Spuddy, agree with you on AFREN and the thin volumes. In addition to what you said on fracking, most fracking in the States has a breakeven point of $80 a barrel, rigs are hired on long term contracts, so producers waiting until end of contract and then decommissioning. As you say Q3/Q4 is when this is expected to wash through the system. Expect price to rebound to $80 per barrel then. Oil companies currently valuing future projects at this mark.

Hello there JR absolutely nothing I would say. Just light sales in thin volumes.
Was reading an interesting article about fracking. Apparently when they say that fracking technology has improved this is correct. However what they are really saying is that they use the same rig to remove the oil from an area that before would require three rigs. Now as we see Rig count in USA is declining already down 15 percent since December. This means that each rig that gets cut removes more production than would have been the case some years ago. With most shale fields operating now at or below breakeven and decline rates of up to 60% in a year we are likely to see a large fall in production in Q3 and Q4 if oil prices stay at these levels.

Just a thought, what does AFREN who have net debt of $720m, have to do with PVR whose net debt at the moment is negilgible ???

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If a deal is announced (everything seems to point that way), he is going to look incredibly silly and will owe a few apologies haha ......not to mention lose a fortune if he is short on this.....would be gutting to have to pay £5 upwards with only 70p proceeds from the initial sale

Haha Jimmy is not happy! If a deal is announced he will probably loose his shirt on short selling pvr