Providence Resources - PVR Stream Log

sequa petroleum have updated their latest news part of the web site with an egm announced for 24th of april. but nothing to do with barryroe it seems. so we wait

updated now and Showing Dr not Sir am i missing something [link]

"few weeks or month" statement from Tor really means nothing as he has no control or influence in relation to sequa,s funding issue. One thing is for sure, if we don't get some positive news soon this share price will start to slide again.

the "few weeks or a month" statement was published on Feb 25th

I would wager 1 PVR share that we will see the last of the holdings Rns' and then the news re BR...

has it been a month yet from last statement?

Bobby, $20m of the loan facility was rolled over until next year.

I see people saying that this fund raising will keep them going for 1-2 years and such but I was under the impression that this fund raising was to pay off the $24 million of 10% loan notes that come due in 2 months time. Since these loans were drawn they have become 20% more expensive due to currency changes. It's expected that the dollar will further strengthen so this loan should not be rolled over or further losses will be incurred. This means they recently raised a total of $28 million( They wanted $30+). $24 million goes to repay the loan notes plus another $2.4 million in an interest payment. That's 26.4 million. Then they also have to pay the $6 million due at the end of March to Transocean. This leaves them with not enough cash to fund their capital commitments for the next year unless they can get more new loans at interest rates of 10%+

will we ever see green in this field?

He said he would be in a position to release details of the deal. Doesn't mean a farmout will be done. Particularly liked Alpha's comment on it below. But as you say, we live in hope !!!