Providence Resources - Barryroe Deal - What are your Opinions JR/Godot/Shadow....

Spuddy, there are probably operational time constraints for drilling this year, so time pressure on that front. I would love to think PVR took a substantial deposit once talks went exclusive or that there is a penalty for non-completion, but until we see the terms of the deal, it's all speculation. What was dsiad that was interesting in a response you got from PVR, is that the farminee had a number of projects on the go and could decide to forego other projects and focus on Barryroe (or not). My advice is "watch this space"

What are your Opinions JR/Godot/Shadow. Do you think Providence have a limit on the time they will wait for Farmanee to raise funding. Do you think there is a penalty clause included in the agreement on commercial terms announced i.e. if farmanee says no cash raised do you think Farmanee would have to pay some cash to Providence. If not than it would seem like it is an option for the Farmanee to do what it likes when it likes and on terms beneficial to itself.