Providence Resources Forum

I would think that pvr will leave the barryroe scene other than to pick up a cheque annually from the operator. PVR will continue with the rest of its exploration portfolio. I would think that they will take some up front payment to fund pvr into the future with the annual share in profits kept in the new company that will be spun off from PVR with shares issued to the current share holders. That way we will have a safe company making annual profits and pvr funded and exploring. TOR will of course be active in this as why wouldn’t shareholders be happy to let him. They can obviously see a bigger picture.

They said a deal was close. Id imagine the deal would need large changes though to reflect oil price change, ie may want pvr to take more of a stake in the profits then a smaller profit share and a payoff. That way its less risky for the buyer.

Spuddy, would be nice, as long as we hear deal done and not deal near

Shadow - price dropping today, have you heard anything to call it BLACK Friday?

Tell me more Shadow !!!!!

Me too!

@ Godot - Mamms can't see your comments. He's on a different board which feeds in to this one. Hope deal is tomorrow

Deal could be tomorrow for all any of us know

What did PVR delay on? Nothing, If your so unhappy with the board why not sell your shares. This share value is about a sale and until that happens it doesn't matter if its at 1 pound or 3 pounds now. It matters what price it is after a deal is announced.

Hey Spuddy, firstly am no expert in this. The payback is based on the total field, irrespective of who the parties are. All parties will receive revenue from the field. Whoever financed the capex, will have to pay for it out of their revenues.