Providence Resources - Re: PVR Stream Log - I suppose Providence is the...

I suppose Providence is the major licence holder for the Irish offshore, and I am sure that one day these fields will be drilled and going on the tests that have being carried out, there is a good chance that oil will be found. The question is will Providence be on the ones still in charge and how much oil will be found. The North Sea is coming towards the end of its life in one way, and I am sure that it has struck everyone that maybe the next big find is only four or five hundred miles south of Scotland. Perhaps the new investors have added new hope in that they have invested some monies here, but sure maybe they can write off the whole lot against tax if things do not work out. Pageant Holding complained in the beginning that the board were not investing more of their own money in buying shares, but after a month or so, they said that they were happy with the board. Once again it is hard to know. We will have to wait and see what happens, but either way the next six months will tell the story to a great extent. Anyway the whole story rests on getting a farmout, and that is really the only news that is going to move this share.