Providence Resources - PVR Stream Log

Who is selling shares at < 17p???????????????????????

Can anyone explain if this is correct - Cairn are going to pay 45% of up to a maximum of $42m so $18.9m max, which would mean if there is an overrun in costs PVR pick them up or is an overrun shared pro rata to ownership? Basically have Cairn cleverly capped their exposure to $18.9m no matter how much drill costs?

I would anticipate on the back of this they are now negotiating an extension of the rig to allow for Drombeg Drill and Newgrange

Any deal is better than no deal.druid could come up bust. We could maybe drill new Grange now too. Cairn is a good solid company. So I am pleased. Now a deal on barryroe would go a long way to restoring faith. We have to get oil flowing. That's the only way to get money coming in and survive. We can't do that without making deals. Even if it means compromising somewhat.

Not exactly a very significant move on SP with this news considering it was exactly what we were all looking for - I wonder how long TOR would have kept this info a secret if his hand had not been forced

Let's face it no one wants Broe! It's all on Druid and Drombeg now

Its a Deal and it shows there are partners willing to engage and its Barryroe or its technical Data Room that got them interested in the first place . Any find going forward will only contribute to growth in SP. The more partners the better and it also dilutes TOR's influence . Soon he will be back in the crèche

Great news but by no means a great deal

some good news finally. sorely needed!

pvr gets 35 mill dollars? is that right? cool. amazing they can get some cash for druid and not barryroe.