Looking Good. Set the company up and then transfer over a percentage of Barryroe to them in return for the investment. Looks like something moving. Surprised that no market reaction or no response from Providence. Its all about geting the ball rolling for Providence. Sully has cheered us all up. Will have a closer look at documents now
Anybody feel like calling Providence and asking about Sequa
Looks promising Godot. May see something before Christmas
We could get a surprise any day JR. Providence, Landsdowne and Fastnet must be of interest now. Conventional relatively cheap oil and gas plays. Pvr mgmt need to mangage their finances in a fashion that suits the situation. Still think we eill get a result though
Hello there JR. ONSHORE, Shallow Water companies like Providence, Fastnet and Landsdowne will come back into favor. Just have to holdour nerves
Hello there Shadow. This is now way oversold. However the management are responsable to a large extent and also a cerain amount of bad luck. The Market sentiment will eventually turn. However the management have left us in a position that we have no cash flow and their burn rate considering their unjustifiable salaries amongst other things have left us in a precarious position. Providence will need to cut costs, sell something, reach a FO, raise capital or seek a roll over loan whilst the market turbulance disipates. This will eventually happen as shale likely to be hammered as well as deep sea drilling and other expensive non-conventional oil sources.
Hello there JR. It is tempting to want to buy at present value and I believe share price will rebound. However if you alreay have a large sum invested I would not risk any more. We still do not know the whole picture and we cnnot be sure about the value of Oil in the near term. Think Providence are waiting it out and obviously this is a buyers Market at present
Hello there to all. Spoke to Providence and was told Negotiations are proceeding. They understand the concerns and are receiving many calls by investors expressing their worry. However the message conveyed is that the situation is frustrating more than worrying. Annual Statement to be released before Christmas