Providence Resources Forum

and if the results of druid and drombeg hadn't been released when they were we would be in administration right now. we were saved by the skin of our teeth. lets hope they come good!

they will probably invest when/if they start producing oil. and then pay out nice big fat special dividend to themselves. but right now it is too much of a risk for them. as anything could go wrong. and why invest your own money when someone else is willing to stump up and take the risk. they haven't taken any risk but all the rewards so far.

60 million to 600 million shares in a year, its the competant leadership.

I used to be critic of Jimmy, but after this massive dilution I dont trust the board. They would have opted to ensure money get back to shareholders but carrot is dangling.

yes i was. but i was just taking it from newspaper articles so wasn't sure if they are correct. many thanks.

@Haribo, I think 597m was the official figure quoted. Are you including the Cenkos and Melody shares issued in your calculation?

i make it 559.48 million which at 12p gives us market cap of 67.14 million. is that right?

So what is the number shares in issue now? does anyone know?

I am only a layman when it comes to things like this sharemate, but it would look like that the vast majority of shares showing up today are at 12 pence, which I am guessing are shares that the small shareholder would have taken up in the placing and are now showing up on the system. There is a very small volume of shares: some just above 12 pence and a couple below it, which I believe are shares that are being brought and sold on the open market today.

Hello Phonner, could you explain carryover from placing what that means?