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I'm still looking for a home! ii have made such a mess of their site. Looks like there are some familiar names here. So hello everyone

From OCT 18In the wake of a breakthrough partnership deal for the Barryroe project in Ireland’s Celtic Sea, Providence Resources PLC (LONVR) has been tipped for very substantial value creation. A ‘buy’ recommendation from stockbroker Mirabaud Securities comes with an upgraded 50p price target (up from 33p), suggesting nearly 200% upside to the explorer’s current price of 17.5p. Mirabaud analyst James Midgley described Providence’s new deal with Chinese partner APEC as “a major step” closer to the commercialization of Barryroe - a 350mln barrel field that’s barely being valued at its AIM share price. Current price barely prices in cash ‘n’carry “Still, at today’s share price Providence trades only marginally above the value of its net cash, plus capex carry (totalling c.14p/shr),” Midgley said in a note. “Accordingly, we consider the company to be in an almost unique position, offering deep value but with a clear roadmap to commercialisation, and further upside in the way of multi-billion barrel exploration alongside Major oil companies.” Midgley highlighted that the new 50p per share target still represents a 50% discount to the broker’s core net asset valuation for Barryroe - in other words, the broker’s core valuation actually prices the firm at around 100p. READ: Countdown starts for Barryroe as Providence inks binding partnership deal Beyond the core valuation, which focuses primarily on Barryroe, the analyst's total asset valuation also includes 40p of what’s described as “heavily risked” value for the Dunquin South and Newgrange prospects, located in Ireland’s Atlantic Margin, off the west coast. For the market’s more speculative punters, it is probably worth noting that on an un-risked basis Midgley values the Barryroe stake at 152p while Dunquin South and Newgrange are ascribed values of 193p and 282p respectively. Mirabaud’s total, un-risked valuation sees the company worth 631.2p. Providence, meanwhile, retains a material acreage position in the west coast frontier from which further exploration possibilities may be unearthed. Yet more upside for Providence? “At under 20p per share, Providence shares are clearly trading at a substantial discount to where we consider fair value,” the analyst said. “While we expect the shares to trend towards the 100-140p per share mark, realistically we consider this a medium-term objective. “Accordingly, for now, we are recommending a near-term 50p per share target price, on the basis that we will reconsider as we approach the start of next year’s (Q2) drilling campaign. “We would add that this target price offers nothing for Providence’s exploration position, which we consider one of the most prospective in the sector. Any progress in readying prospects for drilling could see the share price, and our target price, upgraded accordingly. Putting Barryroe on the path to production September’s binding partnership deal with APEC detailed a path to production, starting with an appraisal programme beginning next year. Together Providence, APEC and Lansdowne Oil & Gas Plc (LON:LOGP) will initially drill four new vertical wells and one horizontal sidetrack. APEC then has an option to extend the programme, to add a further two horizontal wells. In the current quarter, operations are being advanced to survey the proposed well sites. Rig mobilisation will begin in the second quarter of 2019 thus setting in motion a programme that, if successful, Barryroe will become Ireland’s first commercial offshore oil project. Providence and Lansdowne’s share of the programme costs are to be covered by a non-recourse funding facility, whereby Chinese funds will be provided and later returned through accelerated repayment (basically, the partner will receive a larger share of the early revenues). Post-appraisal development funding will be in focus “The firm appraisal programme is expected to take some 200 days excluding testing, meaning that by early 2020, the partners should have gathered sufficient data to make a final investment decision and lodge a field development plan,” Mirabaud’s Midgley said. He added: “assuming the horizontal well options are exercised, three wells will be already be drilled awaiting tie-in, meaning the bulk of the initial capex requirement will be on facilities (e.g. subsea manifolds - note we assume that the FPSO will be leased), which we estimate will cost in the region of US$250-500m (gross). “With Providence retaining a 40% stake in the field, its share of upfront development capex would be just US$100-200m.” According to Midgely, Providence will have a number of options open to it - including reserves based lending, an extension of the APEC financing arrangements, or a further farm-down of Barryroe project equity. Providence is plainly on the cusp of a very active and catalyst rich period. Based on the present share price plus Mirabaud’s target and valuation there’s, evidently, the potential for a great deal of upside available for investors. All eyes will be on next year’s drilling.

Morning Breezy, hope you had a good holiday. As you say, a very positive RNS but still no movement in the share price. We were 2.38p back in July of 2015, 2.83 July 2016, 3.75 July 2017 and 2.35 July 2018 and we are 2.35 today. Apart from the spike on the Tjate news this share hasn't really gone anywhere in nearly 4 years. A few false dawns but nothing really. I keep saying it, but they have done some excellent operational work on the ground and the company is so much stronger than it was 4 years ago but to no avail. I might do one more year and if nothing changes by the end of 2019 I'm off. Wishing you well. idg69

Back off my holiday and i see we have had a good RNS and yet the sp is down again. Not a good start to 2019 this is really testing my patience.

It's a phone app but I had been looking on my pc..Doh! Just followed as Geela68. Thank you Eyes on Hawk2 for setting this up.

EYESON HAWK2 can you send me a link to join the Tapatalk group. I have a Tapatalk membership now but cannot find the group. my email is geela68 at gmail dot com. Thanks. I posted below why I have no ii posting history. Thanks.

I think TOT would remember that I was on JLP, QFI and AMC bb's too Nolosstillsell is on the AMC bb too and so was Bomber64. As now I have had to re-register here I have no posting history. On LSE under the same name and do have some posting history there though until the new ii came about old iii was the main bb I read and posted on.

Hi Eyeson - just had to rejoin ii (been a hilw and they must have purged me off their members list) I have signed up for a Tapatalk account but is there something special I need to do to get to the Frontera page. I have a throwaway email if you could send me a link: geela68 at gmail dot com no spaces or caps. TIA.

29 MARCH 2018 OFFER £10 I THINK PART CASH . CME PRICE 171 , COMPLETE 2ND NOVEMBER PRICE 183 HIGH 16TH NOV 195 NOW 185 HAS PAID A DIV WHICH HAS HIGH TAX ON IT.

ENDED UP WITH THESE WHEN THEY BOUGHT NEX ( THE REMAINS OF ICAP AFTER. THEY SOLD VOICE BROKER PART TO TCAP IN 2016 .. MICHAEL SPENCER COMPANY .