Providence Resources - PVR Stream Log

JOS presentation to Engineers Ireland members in Cork seems like such a distant memory now. We really would like to see that drill bit turn.

Thanks Sobeit for plagiarising my LSE post. However you failed to copy the most important bit, that Sequa gives no mention whatsoever of the PVR deal, proving that it has no legal standing.

Sequa's 2014 Accounts out today. Barryroe deal gets zero mention in the 67 pages. Have now expressed reservations on closing its Norwegian deals. Consistent if nothing else.

We have no reason to believe that there will be any news relating to a farm out before Christmas. Roll on the placing train in the New Year. More stories of companies who nearly did a deal to buy the PVR & the ever so close farm out that never actually happened. It’s beginning to get very predictable here.

We have no reason to believe that there will be any news relating to a farm out before Christmas. Roll on the placing train in the New Year. More stories of companies who nearly did a deal to buy the PVR & the ever so close farm out that never actually happened. It’s beginning to get very predictable here.

Sobeit, my understanding is most of Sequa's $300m for Barryroe, would have been spent on development Barryroe. PVR would get a free carry on the development costs and a smaller cash payment. The share price might go to €2 but not on the basis of PVR getting €300m in cash. The valuation would be based on their estimated share of profits from future events that a development would enable. .

A purchase of the whole company for 500M would be exceptable.

oops....reinstatement costs. Where real Govt negotiation will take place.

Whitegate process units will close and probably be mothballed but jetty, pipelines, storage and roadloading very valuable. Storage needed to fulfill IEA obligations. Elephant in the room is acquirer taking on humungus costs of environmental reinstatementesstate

As much as one would like to see Barryroe supply into Whitegate. The reality is Whitegate will close for refining & the oil in Barryroe will stay in the ground.