Sobeit, my understanding is most of Sequa's $300m for Barryroe, would have been spent on development Barryroe. PVR would get a free carry on the development costs and a smaller cash payment. The share price might go to €2 but not on the basis of PVR getting €300m in cash. The valuation would be based on their estimated share of profits from future events that a development would enable. .
Jimmy 24 how is he your leader, if you don't hold any shares? Have you made some recent purchases 
They were sellers for a long time, so nice to see them buying again. Drop me an e-mail and we'll catch up.
Spuddy - What was Blackrock's holding percentage prior to today's announcement of 4.70% ?
Desparate - hope I didn't sound harsh, was meant tongue in cheek
Desperate - considering the rumoured French interest was €200m last December. If Shell were interested, with the tax relief, that should attract a premium, hence the €250m. No point in talking down the value
Tax credits: (Caveat - Not sure if this is possible or not) Providence are supposed to have spent €500m on exploration over the years. If Shell were to acquire Providence, would they be able to avail of this cost on their tax bill? If they can, with an effective tax rate of 25%, they could buy Providence for €250m and the net cost to them would be €125m. How's that for a discount?
Phoebus, try offering a higher price and it should get easier.