Providence Resources - PVR Stream Log

The key difference between BROE and upcoing drill if we do hit, is the amount of majors with interests in surrounding area which might drive immediate value. It is for this same reason I think we are mad as a minnow being the ones to try and prove the area.

Haribo - I suggest upside might only be even money because having oil is one thing, extracting any value from it is another - and we have proved incompetent at the extracting value part, and market knows that only too well. I do remain hopeful i will get some of my very significant losses back, but not optimistic

what do you mean desperate? surely if there is oil we will be in clover. if there is nothing there we will be in s**t.? i don't see it coming even.

A 10/1 shot that, if a success, may only pay even money - that is the most concerning thing

Looking at this part of the Annual Statement, it would look like the best chance of a Farmout of Barryroe is if Druid is a massive success: The collapse in M&A activity, combined with the Company’s balance sheet constraints in the first half of 2016 made progress in completing a Barryroe farm in very challenging. However, following the recapitalisation of Providence in July 2016 and with some recovery in the oil price, farm in activity has increased. This has facilitated the Company in pursuing new commercial opportunities which are ongoing. It is an important objective of Providence to advance the appraisal and development of this important asset. With this in mind, the Company is commencing various pre-permitting activities in anticipation of future drilling.

Not long to go now. Hope there is something there! Oil preferably...

It's always darkest before the dawn......

A purchase of 750k shares from a supposed float of 30m without moving the needle - those who continue to suggest there is no liquidity in this stock are ill informed

I agree that we will not see full upside if Druid is a success because of a lack of confidence in ability to take to next stage. That said Druid would validate a much bigger area of interest than BROE and would offer significant economies to majors in the area - so we should see decent upside.

The issue is this regards the future price of this share. If a deal with broe is not completed by the time Druid is drilled, even if there is a large find in druid, this stock will splutter and not reach its potential. The reason being, very few will believe tor can follow through when there is a find. I am, like many others, invested here for a long time, and have been burned more than once. I will be empyting my bucket when positive druid news hopefully comes. But again Here's Hoping.