Providence Resources - PVR Stream Log

Align earns its dosh by promoting companies. Run by Richard Jennings of failed Titan Investments fame. PVR plumbing the depths.

Post taken from richie666 on advfn[link]

At moment, 1euro looks like a fantasy, but if PVR projects go ahead--share price could be better then that

I wish I only had 12,000 of these - bigger sigh!

You can have mine for a euro as well, all 12000 of them!! Har har! Sigh!

Thanks - i'd take 1 Euro and run for the hills, even though I have only averaged down to 3 from 11

What does delvering the good look like and what does SP look like once delivered in your view? Is getting back to 1.00 a share a win now?

bonus optiin would be better too, the salary will reflect how they steering the company. if you read carefully they said its upto 20% cut it can start from 1% to 20%. only 20% gets highlighted people think its 20% cut may not be the case

Providence Resources cuts top pay The company remains in negotiations with a number of partners to farm out its prize Barryroe Well asset (Finbarr O’Rourke) PROVIDENCE RESOURCES has slashed up to 20% from its management wages bill while the junior oil explorer seeks farm-out partners to help develop its oil exploration assets around Ireland. The company, headed by Tony O’Reilly Jr, saw its share price rise by more than 25% last week, to close at 17c, as a possible farm-out partner emerged and interest in Irish offshore oil exploration increased. O’Reilly signed a two-year deal last May that secured him an annual package of €450,000, subject to a one-year notice period. It has since emerged that he has agreed to take a drop in his salary of up to 20% and that members of the senior management team are also taking similar wage cuts.’ “We have made cuts across the business to make sure that we are fighting fit. We have looked at every cost element,” said O’Reilly.

In sep 2015 during half year results company stated about reducing 20% G&A costs, now they have announed inflated salary cuts by 20%, this is a pokibg shareholders quite a lot as it runs to millions. Need to push for aggressive cuts