Providence Resources - PVR Stream Log

A year ago there was nearly a one billion pound deal done. I would think that the deal will have reduced a good bit from that value. But not in terms of percentage of the deal remaining but in the value the oil to come up reducing and therefore the perceived value of the deal. I think the cash element will still be quite high. A lot higher than you think as either they will have to be paid enough to pay for their share of the barryroe development or carried by the partner for it and also receive enough cash to fund SP and repay the loan and function into the future. I don't see the point of doing a deal if that wasn't achieved. So I think Loan and spanish point 65m plus running costs into the future and other plans another 20. So I think Tony will have been looking for a good bit of money upfront and a carry on all future costs in Barryroe

Its amazing how the pieces of the puzzle are slotting in Sully. There are a lot of people talking this down but you have to think they are doing it for a reason. After all last week they were giving out that no deal was done and now we have a deal they are complaining about it. Sure none of us know the terms. They must be decent enough if the third party has to get finance for it. And why bother doing a deal if you don't think you can get the money. Waste of their time. So I think this news is all very positive

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Fair play Sobeit and Jimmy for debating the issues.

Any chance PVR give up incremental stake in SP to Cairn in return for a free ride?

Jimmy, I think twice you have posted that we have an FX loss on the loan facility - do you really think the management would have been stupid enough to draw down the loan facility and convert to Euro?

I tempted to purchase again , what do you think JREwing ?

I just can't believe that there are people out there who would sell their shares for 58 pence after this mornings update.

No real movement yet on share price