Providence Resources Forum

Haha thats as rough a share price valuation you can get!

Haha all the short sellers on to try dampen the mood. Could be a bad deal could be a great deal. Who knows! But any deal at all puts this share into triple the price its trading at. 500m/65m shares= 7.69 a share

Sully, many thanks for sharing Sequa info, really appreciate it. Could you please private message me at [email protected] just want to run something by you. Thanks

Wonder will we have RNS on monday. Think so as they cannot say this information is irrelevant to share price. Wonder what the deal will look like. May see Landsdowne's Amergin drilled as well. 😊😊

SEQUA PETROLEUM, a publicly listed specialist oil finance company, is poised to take a stake in Providence Resources’ Barryroe field off the south coast — the most advanced oil exploration project in Irish waters. Neither company would comment this weekend on the proposed farm-in deal. Speculation rose last week when a new company, Sequa Petroleum (Barryroe), was registered in the Companies Registration Office. The new company has listed its place of business in Ireland as “c/o Providence Resources”. One source said the company was still talking to “a number of interested parties”. Sequa Petroleum is a subsidiary of Sapinda Holding, an investment company established by German business prodigy Lars Windhorst. Sapinda Holding is reported to have invested €2bn since it was established in 2009, with oil and gas assets taking up a large proportion of those investments. According to the Sequa Petroleum (Barryroe) memorandum of association, the company goal is “to exploit natural resources of every nature including oil and petroleum”. The company’s website states that it specialises in completing farm-in deals of between $100m and $500m (€80m-€400m) to bring assets up to first production. Sequa Petroleum’s participation in Barryroe is likely to help fund the drilling of further appraisal wells that are needed before the Celtic Sea field is taken to production stage. Tony O’Reilly Jr, the Providence chief executive, told investors in September that negotiations “are now at an advanced stage and we are working hard to satisfactorily conclude this with the objective to return cash to the business and obtain capital funding, while also ensuring that Providence retains a material stake in Barryroe”. The negotiations will not have been helped by a plummeting oil price that has dented the stock market valuation of exploration companies. Sequa Petroleum has a market capitalisation of €608m. According to a presentation on its website last month, the company is pursuing significant farm- ins and joint ventures in northwest Europe. It has identified an undervalued asset, built a relationship with a local partner and is qualifying as an operator

[link] strong buy

billcaya27 positive News.. Business as usual for PVR. Strong Buy..Really strong Buy

Glad my find on sequa looks legit. not easy watching the sp fall everyday. goodluck all. talk about bad timing. fingers still crossed for good xmas news.

40$ a barrel is probably a good thing if PVR still manage to pull off a deal for BROE, 15 percent and counting of the shale producers are in trouble. 40$ a barrel is unsustainable for everyone. I read that oil prices should recover to 80-90$$ a barrel by H2 2015. Hopefully will be well over 100$ a barrel by the time PVR start producing. Low oil prices never last not at those levels anyway. Plus Barryroe has its own market selling to the Irish.

Asadi, documents sent, have a good weekend. Monday should be interesting.