Providence Resources - PVR Stream Log

Lots of coverage in the Irish papers as you would expect. [link]

and salaries Jimmy, and salaries

Druid looks like our best bet really. They say that Druid was once joined to the Canadian off shore, before being separated. As far as I can remember there was a farmout in the Canadian side not too long ago.

so maybe one day i will see my money back again! i do agree though - this time the idiot better start drilling and no frittering the money away...

druid and drombeg have purportedly got 5billion barrels of oil. even if we recover 10% that is 500million barrels of oil. at 20 dollars a barrel profit that gives us 10 billion

Hi Sharemate, yes - my own average is 2 pounds. and i can't afford to participate in this round to average it down. so i am stuck at 2 pounds. but still - we were talking about going into administration. but we haven't. instead we have raised another 68 mill. we had 11 mill in cash that melody could have taken. instead they have converted their debt into equity. cenkos as well have taken their salaries as shares. neither of these institutions are charities.

As i thought severe dilution. New investors at 12p a share. Wish we could join the club at this price. When oil finally gets to the surface at production stage there will be a new shower of investors again to lick the cream. This is like payg electricity to keep the lights on. Baby will have the remaining 41 mil gone in a year. Isee more and more share and a consolidation in my crystal ball. I will try to look on the bright side at least we still have another roll of the dice from the master of waste. Will we ever see simple production from any one of our billion dollar assets. We have money now to do it.We will flutter it all away like the hundreds of millions before. These hundreds of millions already spent proving this and that and seismicing ourselves into oblivion were shown to be worthless when we were in need of a few dineros.Maybe we could always do corporate things....like dilution of an absolute unreasonable amount. What was the name of that business school in the states again where Baby bought his papers. Lets see if the market cares when we find billions more. Revenue is what counts these days. Back to placing price in the morning. Why not go into production ourselves in Barryroe. My guess is because its like a swiss cheese but with modern methods anything is possible. They do say Druids come out on the solstice. How right they are. Gla

Hi Haribo, They raised 77 million about 9-10 million goes in asset form to melody and cenkos. Rest 66 million will be with company. Most of current shareholders am aware of have average of above 1 gbp, this dilution is hard hit

Im surprised by negativity. I thought we would go bust. Instead he raised 68 mil. Im sure which well to drill would have been dictated by our new shareholders. And since its backed by schulemberg i think it is a good idea. At least we didnt hear a barryroe farm out is imminent.

Melody gave loan at 3GBP per share now scooping the asset at 12p