Providence Resources - Re: PVR Stream Log - I havent written on providence...

I havent written on providence for some time, the whole Barryroe saga was getting me down and it still is, the last deal fell through and those of us who worked out who it was were able to see at close hand that the moolah wasnt on its way to Dublin. Apparently it still is in negotiation and any delay is only on ‘capital availability’, join the club boys. On the conference call the mood was upbeat but then when was it ever not, Provvies is in ‘invest’ mode apparently and valued at only 9 cents in the barrel in the books, with an unparalleled portfolio and the latest licensing round showing incredible interest from oil companies large and small from all over the globe. PR are still talking to Melody finance and maybe others about extending terms and the maturity of their debt facilities which need to be tucked up before long. There is little doubt that Providence is on the list of highly leveraged exploration stocks standing at a massive discount to its potential NAV, but the market is in no mood to give companies the benefit of the doubt at the moment and proof of the pudding is in the eating, starting with Barryroe the company needs actions not words to get the share price moving.