Providence Resources - PVR Stream Log

If they issue forty million new shares at twenty five pence each that would be ten million pounds. That should tie them over for a time being, and hopefully reassure the market, and maybe things will begin to settle down over the next few months.

It is really. Anyway the attractive thing about this share if there is such a thing, is the small number of shares in issue.

share price too low for rts issue

The Irish Examiner Newspaper is talking about a share placement next week. That would be better than a rights issue I think myself. No matter what number they settle on for a rights issue, I have a feeling that the share price will just go below it straight away. [link]

Cheers spuddy. Share your sentiments re farm out, nothing has changed other than progress. We know the company doesn't have loads of cash so the funding discussions could just be a proactive move in advance of the melody facility closing in June, possibly to keep the company operational should the farm out not close by then. Think I would prefer another short term loan facility as opposed to a rights issue or a senior debt issue, time will tell the course of action I guess

Can anyone tell me where the conflicting RNS's are that atlanticshore is referring to? I have read the RNS's and can't see it but could be misreading them, cheers

Just read the wikipedia biograhical note on Lars Windhorst, the co founder/owner of Sabinda, the holding company of Sequa Petroleum (only incorporated in Aug 2013 with $25m capital from Sabinda for only speculative project in Kazakhstan). Made $4m loss in 1st 4 mths accounts. If Wikipedia article is correct, Windhorst knows far more about fighting fraud allegation, bankruptcy and paying settlements to the German State than he knows about the oil business. So far the only plug that Sequa is the financier is the gushing Vincent Ryan of the Murdoch Times. If its true, Providence is truly scrapping the barrel.

pump and dump. how can this be legal? given the broker valuations how can it be trading at such a price as this. either they were pumping up the shares or information regarding barryroe was withheld.

Can't see TOR being able to survive what would be a massive dilution at current prices. For your own sake Tony, please find alternative funds.

Our shares being the Dining Room Door!