Providence Resources - PVR Stream Log

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Situation is changing from oil front

Its like you have lot of skills no one is offering job, though if someone offer its not acceptable level.

Looking at pvr they know need of money so try to sqeeze much out, oil still not completely recovery stage and all the oil companies are struggling due to dimishing profits and struggling to balance there books due to interest payments against debts this resulted quite a big chunck of players out of market and all exploration assets are in cupboard. There are few companies out looking for such assets but at a bargain but as we know tor is hard nut he was reluctant to cut deal even during 100$ days as his target was high, now he is amecable but the price what they are offering may not be acceptable level. Its wait n watch game, once oil recovers then lot of birds will open there feathers now all of them inside cage looking aftervthemselves

Haribo, when you look at negotiator perspective he will try to make killing

But why has nothing happened in past 4 years sharemate? now is the perfect time to invest. Yet TOR is on his knees giving away all the assets, not just barryroe for 100mill. what are we not being told? oil is on the rebound, rigs and contractors cheapest they have been for a long time. and yet no deal in sight!

All i can say in next 6 months oil market will be different ball game and its on upward leg, those who are interested to take a slice in barryroe most ideal time. If they spend in cheap negotiations same days will not return.

As i said this morning, fund raise could be backup measure so dont get tensed for now let them announce.

maybe he intends on drilling barryroe, spanish point and druid all at the same time with the money. if we hit pay dirt on 2 out of 3 of those then we could potentially be a billion dollar company. more and more it seems the stuff of dreams. but if we survive then we have possibilities and a glimmer of hope. if we go into examinership we have no hope. i think oil definitely has another 20-30 year life span. but what with climate change and the saudis preparing for a post oil economy i wouldn't be waiting too long to get the stuff out of the ground.

Thank you for your comment Desperate, and you make a excellent point, as painful as it is. I am afraid I am one of those on the wrong side of the share price, and feel very sick about it, but time is a great thing really to help you get over it, but I am sure I am going to feel very sick again once they post a RNS