Providence Resources Share Discussion Threads

[zhockey] 03/4/2017 13:10

Richie, what happened to your city whispers?

[hermana3] 03/4/2017 13:05

Zh, Plus we have a truly decent US President for the first time since Truman. Rise and follow de Donald!

[hermana3] 03/4/2017 13:01

Richie,There is a dude at III reckoning a wee bit of positivity is good for the soul! So here goes,reckon this could be one of the top oilies in 2017 on the AIM and ISE market. Your turn?

[zhockey] 03/4/2017 12:58

Quite a few folks have said "if they couldn't farm out Barryroe at 100 oil then how can they at 50?".

Well it's simple, costs now are 25% of what they were. So in effect Oil now is double what it was back then, $50 vs $25, not $50 vs $100.

[buffythebuffoon] 03/4/2017 12:53

No Richie, I'd imagine, like me, they see you as a whining poster who repeats the same thing ad nauseam.

Buffy

[richie666] 03/4/2017 12:28

So now April and the "end 2016, no I mean early 2017" Barryroe farm in is looking dimmer and more distant than ever.

And peeps here still see me as the bad guy? Laughable.

[hermana3] 03/4/2017 12:10

GD,Exxon were too stingy to fund 3D seismics and went for the weaker of the 2 prospects at Dunquin. Quite what they were at who knows but they have picked up more licences recently and wont have Providence in on those. Big oil does its own thing and let us hope ENI does not behave in the childish manner of Exxon after Dunquin well.
Market not exactly jumping for joy today but it is all about the short term and only wants to hear of Barryroe or Druid.

[peaeff] 03/4/2017 11:53

isef

I agree with your sentiment entirely and as I recall in the dim and distant past I posted similar thoughts. However the major problem there is that no one can say what 20% of Barryroe is actually worth in order to formulate a deal. This, I suspect, is why PVR are having such a problem securing partners and certainly since the discovery was made ($100+ barrel) to the lowest oil price ($40 barrel) the difference has some significance.

regards and thanks to you and GD

[greatfull dead] 03/4/2017 11:52

Good post Peaff,

Shows us all how reality is when you sit back and think about it.

ATB,
GD

[isef0001] 03/4/2017 11:35

Peaff: Good post. I guess we've all felt the pain of dwindling share price and then dilution over the years since the Barryroe discovery. As for LOGP, the issue has been raised before on this thread and for the life of me I can't understand why PVR hasn't made an all paper offer for the company. LOGP shareholders would get to keep an interest in their two remaining assets and gain exposure to the remainder of PVR's portfolio. PVR would get to hold all of B/roe and increase their % in Helvick. It seems a no brainer to me. I'm not a holder of LOGP but if I were, I'd jump at it. There again, what do I know? IMHO.

[peaeff] 03/4/2017 11:09

Morning all another Monday and another RNS albeit not the one we were expecting or more likely hoping for. Plans for the future are always acceptable because it carries the hope that, at least, there is one. For the oldies on the thread a year ago may well have had another look to it but fortunately, and for now, that has passed.

However apart from raising more funds, with the issue of tons of confetti, very little has changed in respect of a completed plan coming together. We are still desperate to succeed with Barryroe and the 2017 drill is in the lap of the gods at the moment.

Today's RNS re. Dunquin is without a doubt a bit of a surprise because it was the Dunquin north drill which really started the slide here. Herm mentioned Exxon above as having not come out of Dunquin doing us any favours and he was right. They took years to drill it and then dismissed it totally out of hand on completion. A good time later they began to release some of the better data. Having done that they then relinquished all of their involvement and now here we are having another look at it. Could it really be that 'the bees knees of the oilies' missed the honey spot. It would be nice if that was affirmative.

However I can't help this feeling that we've been here before inasmuch that we are still not a bottomless pit as far as cash is concerned, and I keep harping back in my own mind to the 6 basin 2 year drill plan of 2011, which came to an abrupt end at Dunquin,(drill 2)and ran out of steam through lack of funding, (no Barryroe partner).

I'm certainly not wishing to be pessimistic because quite apart from being a long way off breaking even I do feel that the next 12 months or so, if things go well, will bite quite heavily into my losses. Therefore we need to be a little careful we don't get carried away with all this promised activity until some positive results begin to aide the cash flow. At least we have a positive with 2017 drill but it needs to come home and Barryroe is long overdue. Let's not also forget our partner LOGP who have been hanging on to existence by the skin if their teeth when they have a 20% share of a huge find.

regards

[greatfull dead] 03/4/2017 10:40

ise,

I do hope your on track there.

ATB,
GD

[steelwatch] 03/4/2017 10:37

Very rough seas may have halted druid well site survey again, if unfinished:

[steelwatch] 03/4/2017 10:29

Whale friendly too!

[steelwatch] 03/4/2017 10:21

fwiw



isef - I'd say Geo Caspian too on Marine Traffic




(scroll down about half way).

[isef0001] 03/4/2017 10:12

GD: If PVR get another farminee for Druid/Drombeg at same deal as Cairn, then I think Newgrange will be the next drill for the IceMax. PVR would have plenty of cash to cover the cost in that event. IMHO only.

[greatfull dead] 03/4/2017 09:22

Herm,

Yes Druid/Drombeg and Barryroe are the prime suspects. Newgrange just sticks in my head because of this RNS.



ATB,
GD

[greatfull dead] 03/4/2017 09:04

Looking like PVR are going to get some Big investors here rich. My I am small fry but happy to be here.

GLA,
GD

[hermana3] 03/4/2017 09:02

GD, Druid/Drombeg and Barryroe are the prime suspects here! Hard to know where Newgrange fits into 2017 plans. Dunquin could well be in Summer 2018 drill plans as there is unfinished business there for sure!!!

[greatfull dead] 03/4/2017 08:56

I do wonder what the next RNS will contain. I am hoping for a mention of Newgrange in the same RNS that could well be not in totally about Newgrange but more to do with another asset!

Guessing time all I suppose.

GLA,
GD

[abudhabi123] 03/4/2017 08:44

Herm...this is how TOR and his very small team spend their time...not skiing, sailing or sunbathing or planning their next holiday as is always being insinuated!!!!

[hermana3] 03/4/2017 08:15

Wow Dunquin back on agenda at last! ENI moving way faster than those yokes at Exxon ever did. Will have decent 3D seismics this time around when drilling Dunquin South.

[rogerlin] 03/4/2017 08:13

Meanwhile the Fugro Searcher has returned within range of the Marinetraffic free service and has gone to Bantry.

[eringael] 03/4/2017 08:12

Imminently is a much overused word in a few of my investment's statements, sometime I think they never looked the word up in the dictionary - soon Barryroe farm out will be imminent

[ohisay] 03/4/2017 08:03

I love the smell of 3D in the morning.