Providence Resources Forum

Hello there Mamms. Yes I told a fellow Board member that if I were he I Would average down. This is what I did. Proves I am not an insider. We Are all entitled to our opinions. Even If they prove incorrect. However I still believe a Deal Will be announced shortly. Sorry if these " misinformed Comments Bother You ".

Senior executives at the Irish exploration firm Providence Resources were in Asia last week holding discussions with potential partners to help it develop its Barryroe oil find.

China has a number of major oil industry players who are seeking opportunities to become involved in overseas projects. Providence recently announced that the Barryroe oil field in the Celtic Sea could contain between 1 billion and 1.6 billion barrels of oil.

The results of the drilling programme at Barryroe are already well ahead of what was expected and this has generated a lot of international media interest. Providence has said previously that it is seeking partners to develop what would be Ireland's first commercial oil field.

"The size and scale of some of the Chinese companies is colossal," said one source.

China's largest oil company, PetroChina, produces more than four million barrels of oil per day and is the fifth-biggest oil company in the world, according to Forbes. Its chairman said in March that the company was aiming to have half of its oil and gas output coming from overseas by the end of the decade.
Another Chinese oil giant, Sinopec Group, has more than 600 billion yuan (€75 billion) of overseas assets in 55 countries, while another company, CNOOC, has a production target of 330 to 340 million barrels of oil equivalent for the year.

Here's hoping for a buyout. I am cautiously optimistic. And for anyone overly optimistic look at what happened Xcite energy one of the largest finds in the North Sea couldn't save them from going bankrupt

At right time management decisions were horrible and some are trying to exploit when companies facing massive tides. Its all down to TOR.

For him its always to find black spot even though if it doesn't exist does come out with a theory to say it exists. He will not let go easily.

An update on the progress of Druid: [link]

Mark zuckerberg takes a salary of 1 dollar. Do people take him seriously?

Cadis99 He is not being taken seriously on 400K ++ !! We are fully funded until the drill.. then what. Yes the market has being poor but PVR management have continued to milk it throughout, and at the same time blatant lies. A deal is imminent!!! if we only knew that deal was written on the back of a cigarette box

You only create unnecessary dilemma in the my mind of to be farmout.

It would be ideal if you stop talking technical, let the management deal with this.