Providence Resources Forum

Strong Close for a Monday

Surely there were need to be another interested party in BROE to ensure a fair value deal is agreed to avoid the conflict of interest shouts if T5 did a deal?

Seems Like we may Have another RNS soon if city whispers are true (as mentioned By Richie on LSE Board. This all seems to be trying into T5 IPO supposedly scheduled for April. If T5 were trying to raise funds for IPO with Barryroe as one of Assets offered ib return for the funding sought then this could be a reason for the cited city whispers. Believe T 5 is tied to Barryroe and Landsdowne. We shall find out shortly !!!!

Nice to see some buying actually impacting SP

Eh? He has lied to us consistently. Sure Cairn deal is great but the money paid says it's a good punt not a definitely serious commitment . I'm not surprised share price is flat. Only thing that was proven is that Cairn has an eye for a bargain and can price it correctly.

Wonder what the iis think of him selling off chunks.

15 million shares traded in LOGP Today ( including 12.5 m in back dated trades). It seems That There is an interest in ensuring a majority stake in LOGP to get some sort of deal over the Line. Think that T5 Will reverse into LOGP and thereafter buy into Exola ( providence ) retaining a Share. Think we Will see T 5 concentrate on Celtic sea. Lot of seismics already done Here.

Who is selling shares at < 17p???????????????????????

Can anyone explain if this is correct - Cairn are going to pay 45% of up to a maximum of $42m so $18.9m max, which would mean if there is an overrun in costs PVR pick them up or is an overrun shared pro rata to ownership? Basically have Cairn cleverly capped their exposure to $18.9m no matter how much drill costs?

I would anticipate on the back of this they are now negotiating an extension of the rig to allow for Drombeg Drill and Newgrange