Providence Resources - PVR Stream Log

Shadow, apologies for snappy response yesterday, was up to my neck in work at the time.

At this stage I would settle for the management letting us know they are alive and well and putting a few hours a week in at the office!

what ever you say about the management they found oil and the seas around Ireland are full of it 003 llarrab

Shadow, they're buying an asset and I expect them to take control from current board of management by acquiring a controlling interest. As outlined in previous post, you only set up local company for holding an asset. If you're acquiring a company outright then no need to set up locally as the existing company suffices.

so are you going for a complete buy out then Shadow ?

Get Real , no body is going to give Providence $ 300 million with the current board of management , this will be a company buyout or nothing

That would be great. The present value of the Barryroe project is massive even with todays low oil prices. Anything that gets it operational is great in my view. A payment in advance will be great as well in providing the platform for future exploration. Exciting month ahead I hope!

Godot, Sequa are examing 2 deals at the moment. My reading is that they will complete both and need the extra debt funding in order to do so, not that they will buy a greater share of Barryroe. Would be nice if you were right. Think deal will be done for $300m for 50.1% of Barryroe, PVR will be entitled to 80% of that and share price on back of that would go to €5.90.

Grand. Was thinking the sums added up a little too easy there! I would think that debt will only form the smaller portion of the purchase and then operation of Barryroe. With the majority been equity funded

See link attached. [link]