Providence Resources - PVR Stream Log

Hi Spuddy, if the farm out is done i cant imagine they would hold back on announcing until a future planned meeting. As we haven't heard anything i dont believe it is done and hence we are in the same position we were in months/years/moons ago. The only good thing would be TOR's resignation. Is Directors remuneration proposed by the Board and approved at a meeting of the shareholders?

I think the potential value in the assets deserves the attempts at monetisation by a competent management team before all hope is lost. I find it hard to believe that 7 or 8 institutions were fooled by this crowd so there is obviosly something here that we do not know. Ripe for a buyout or a heave against senior management at the AGM.Let some professionals have a go...

Now 27th May 15 weeks later update update , who controls this company and its actions ??? , Lack of actions . The Institutions must know something to tolerate this .

9th Feb . Providence Resources (LONVR) shares advanced on Monday as it told investors a deal has been done to bring in a partner for the Barryroe field, off Ireland’s southern coast. The identity of the new partner remains confidential, however, and the details of the long awaited deal remain scant. "The agreement of commercial terms for Barryroe is a positive step forward,” said Providence chief executive Tony O’Reilly

The O' Junior circus roll's into town tomorrow. Be prepared for more waffle & lies. Just remember at the share placing he said he hoped to open up to the markets in a couple of weeks or a month. What have we heard since that. NOTHING! This chap needs to go. 500k a year for under performing or not performing at all as the case may be. Remember tomorrow folks whatever is said needs to be taken with a extremely large pinch of salt this man is a incapable of telling the truth.....

Phoebus - if you get to read this, think Sequa have managed to burn at least $130m in Kazakhstan, split between $90m loan facility to Bolz LLP and $10m farm in cost for 75% of Aksai liocense plus $35m on drilling. Plus I think I read somewhere that they acquired the remainder of the license, so that would be extra cost. The total burn on Aksai depends on how much they advanced Bolz in 2014. But I don't think they'd be delaying the accounts for an impairment of $10m or even $30m. Check their 2013 accounts for my figures.

I admire the optimism held on this share, I hope for everyone's good it's not myopia. There's an old saying 'what does experience teach us? Experience teaches us that experience teaches us nothing at all'. GLA

We can only hope that whoever is doing the buying will shortly do the firing and clear out our incompetent board. The SP crash has been amazing. Principally caused by a complete loss of faith in Krusty and the gang. I am holding my position (considerably underwater) under the assumption that one or several entities with some functioning brains running them will see the value in the assets this company has and snap them up.

i would think at these prices even a piss poor farmout would get the price moving, anything to get the Barryroe field progressing should be seen as a positive. i think people loose interest when then see other shares moving in one way and this only fluctuates ;but its been in tight Bollinger bands now since end of Feb both lower and higher acting as support and resistance, the thing that will move this is the news we are all waiting for ( sooner would be good please )

Hope your right Spuddy , just bought a small chunk !!!