Share Name Share Symbol Market Type Share ISIN Share Description
Providence Resources LSE:PVR London Ordinary Share IE00B66B5T26 ORD EUR0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.25p +2.08% 12.25p 12.00p 12.50p 12.25p 12.00p 12.125p 2,221,978.00 12:39:40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -17.8 -14.4 - 73.21

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Date Time Title Posts
07/12/201621:50PVR - The Irish Explorer42,949.00
16/11/201613:37PVR SHORT DOWN TO 1P1,716.00
28/10/201608:24PVR - Providence Resources10,226.00
30/8/201609:56PVR - The truth about "Junior" -
19/8/201611:54LON:PVR confirmed it has now cleared the decks following its US$70mln funding.-

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Providence Resources (PVR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
07/12/2016 16:29:2012.5015,3471,918.22O
07/12/2016 16:21:0912.5014,1671,770.73O
07/12/2016 15:27:2612.5050,0006,250.00O
07/12/2016 15:12:5212.5011,3911,423.87O
07/12/2016 14:43:0412.5025,0003,125.00O
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Providence Resources Daily Update: Providence Resources is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker PVR. The last closing price for Providence Resources was 12p.
Providence Resources has a 4 week average price of 10.94p and a 12 week average price of 10.83p.
The 1 year high share price is 18p while the 1 year low share price is currently 7.75p.
There are currently 597,658,958 shares in issue and the average daily traded volume is 1,614,061 shares. The market capitalisation of Providence Resources is £73,213,222.36.
cephalosaurus: ftj, the mms are moving the price around to drum up trade. This morning they were offering at 1.9p, now over 2p. Probably because they saw the PVR share price. But if PVR's move was due to Statoil news, I suspect it's just that.
papillon: MONMAN 24 Feb'13 - 08:30 - 20001 of 39894 0 0 Giant Petronas eyes a €600m bid for Providence Resources HTTP:// Billy_Buffin 24 Feb'13 - 08:38 - 20002 of 39894 0 0 Good spot! That's around £8 a share? hermana3 24 Feb'13 - 08:46 - 20003 of 39894 0 0 Billy,Wont be happening at a penny under £25 a share. They are a logical bidder but others will emerge. Are the ruling family cashing up here after delight at juicy HJ Heinz bid? Funtimejonny 24 Feb'13 - 08:52 - 20004 of 39894 0 0 Just spotted this one myself. £8 a share does not strike me as being about £2 a share, IMHO. Anybody got any thoughts on this? Hell of a story! >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Those were the good old days. Just 3 years ago the PVR share price was over £6 per share, newspaper speculation of a miserly £8 per share bid from Petronas and optimistic talk of PVR being worth £25 per share. Yet now the PVR share price is just 11.25p!!!!!! Yet PVR is not alone. Most AIM O&G sp's have been literally decimated over particularly generous. I would be surprised if the O'Reilly family would sell out for that. I'm invested in both PVR and LOGP. This implies that LOGP is worth the last 3 years. Oh to have had a crystal ball 3 years ago! I'd have saved myself a lot of money. Oh to have a crystal ball now! If only I could predict the PoO next week, next month, next year and in 3 years time! Dream on, papillon, dream on! LOL. Both PVR & LOGP must be good gambles at their current sp's on recovery hopes for the PoO, if they can survive without further share dilution (or even survive?)! For every PVR share bought 3 years ago at £6+ you can now buy around 60 shares for the same outlay! It's a tempting gamble, even if you only buy £250 worth That's equivalent to spending £15,000 3 years ago. Simply AMAZING! I'm sorely tempted because PVR looks cheap, but will it get cheaper still? Perhaps that £250 spent now could be worth £15,000 in 3 years time? Oh to be able to predict the future!
peaeff: I've got an inverse head and shoulders which has been caused by continually cringeing at the PVR share price.
alphabravo321: From the Sunday Biz Post...Tanking oil prices force exploration stocks down 03:55, 9 August 2015 by Barry J Whyte Offshore Ireland hasn’t been a great hunting ground When Saudi Arabia is considering tapping up the bond markets, you know that oil prices are probably in trouble. And last week, that was precisely what happened, with news that one of the most powerful oil-producing nations in the world was considering a plan to raise $27 billion (€24.5 billion) by the end of the year to fund its domestic spending, given the continuing low price of oil. For Irish oil companies – other than Dragon Oil, which is being taken over by oil giant ENOC and plans to delist from the Irish Stock Exchange – prospects look even more bleak. “Offshore Ireland hasn’t been a great hunting ground,” Gerry Hennigan of Goodbody Stockbrokers told The Sunday Business Post. This has put a lot of the smaller Irish exploration stocks under significant pressure. But pressures apply to companies across the entire sector, thanks to oil trading around $50 a barrel of Brent crude, just about a third of its all-time peak of $147. “The biggest problem is that whether you’re in Houston, Aberdeen or Dubai, in 2014 you probably had some confidence, and you were basing a level of investment on a project that may take a few years on that confidence,” Hennigan said. “Unfortunately, today you don’t have that confidence.” Over the last year, as oil has dropped from $100 to the current price, Ireland’s oil companies have similarly plummeted. Providence went from £1.38 (€1.97) to just under 20 pence. Petroceltic tumbled from £2.20 to just under 58 pence. Tullow collapsed from £7.30 to £2.20. Petroneft slid from a high of around £6.50 to around £4.40. Even the smaller companies lost share value. Circle Oil went from around 28 pence to just over 7 pence, while Aminex went from just under 3 pence a share to just over 2 pence. Job Langbroek, oil industry analyst with Davy Stockbrokers, agreed that Ireland’s small community of oil companies – whether they’re drilling for oil offshore Ireland or exploring in more traditional oil producing parts of the world – were all victims of the broader industry slump. Those smaller exploration companies were essentially research and development stocks, he said. “People call them exploration and production, but drilling for oil is the same as peering down a test tube,” said Langbroek. “There’s an awful lot of capital required up front, and when it comes off there’s a huge pay-off which repays you for that.” But when the final product is under pressure – as oil is today – the flowthrough impact on the industry’s ability to finance acquisitions, and to pump money into exploration, dries up, according to Langbroek. “We’re at the sharp end,” he said, referring to some of the smaller Irish stocks and their share performance. “In the share price performance of this spectrum [of companies], you can see the various indices have generated poor returns over the last couple of years, and it’s a direct reflection of the change in attitude on commodities in general and oil specifically.” Petroceltic has been taking up most column inches lately. Just before the news broke that Saudi Arabia was considering entering the bond market, Petroceltic had announced that it had been forced to pull its own plans to issue a bond that would have funded the first phase of the development costs of their major oil field at Ain Tsila in Algeria. The company cited poor market conditions, while observers hinted that the constant carping from its main shareholder, activist investor Worldview, had also contributed. But for David Holohan of Merrion Capital, several other Irish companies have been struggling, and some were in tricky positions even before the oil price slumped. Providence Resources, for example, where Tony O’Reilly junior is chief executive, has been attempting to find a farm-in partner for its oilfield in Barryroe in the Celtic Sea for a number of years now. “Earlier in the year it was widely reported they had a partner, but that failed to materialise,” Holohan said. “Then they reported it was finalising by the end of the year, but it’s been going on for years now with no white smoke. If they don’t get a farm-down complete, they’ll have to do an equity issuance next year.” If they proceed with that equity issue, it’ll be done at an all-time low for the company’s share price, a further blow for its shareholders. Meanwhile Tullow, once the shining star of the Irish oil and gas sector, has seen its share price fall to Earth lately. “Tullow is something of a one-trick pony. It’s dependent on its Jubilee oil field,” Holohan said. “It was a retail favourite in the Irish market and a success story from 2006 onwards.” This was due to some significant exploration finds, but shareholders are still waiting for those finds to produce oil. For Tullow, at least, the company is still producing meaningful amounts of cash, so it can still reduce its capital and operation costs, and can position itself well for a rise in oil prices. “Tullow has some very nice assets, and while it’s several years away from meaningful money it can batten down the hatches, and wait on higher oil prices going forward. While its debt is high, it has good support from the banks,” Holohan said. “Clearly, though, if oil prices were persistently low for the next few years, Tullow would come under pressure.” Things have been slightly better at the Russia-focused Petroneft, which is making progress with its main assets in Russia. “It’s one of the few companies where production is improving and the share price has reacted better despite the oil price,” said Holohan. For Langbroek, the market is cyclical, and all these issues will eventually work themselves out – though he’s not making any predictions of when this will happen. “It will turn, but most people don’t know when. People will give you dates and times, but then don’t know when it will turn,” he said. Sometimes it’s just pure momentum that turns a market around. “The thing about cyclical markets is that they rectify themselves,” Langbroek said. “There’s an old saying: ‘Nothing cures low prices like low prices’.”; ....... The Numbers 50%: the drop in the price of oil since last year 86%: Providence Oil’s share price drop 74%: Petroceltic’s share price drop 70%: Tullow Oil’s share price drop
pollnagorm: Jimmy on iii, hard to argue against: "It truly saddens me that PVR has embarked upon a series of strategy errors that have resulted in lower and lower shares prices. At the heart of these errors is a failure to appreciate that if exploration cannot be financed by farm outs then it's dependant on equity dilution till a project can be debt project financed. That's what leads to lower and lower share prices. To make matters worse, the equity markets put very little value on exploration due to a low commercial success rate. So what can be done.? The most obvious answer is to merge with another company that will inject more oil experience into the management team and board as well as balance the exploration portfolio with production cashflow. In the absence of a merger/ takeover the following steps could be considered: 1. Re align executive remuneration so that it's performance related and performance payments are paid in shares which cannot be sold for 5 years. This way executive compensation is aligned with shareholder risk. 2. New blood needed on the board which should have oil and gas experience, a new board should not represent O' Reilly interests which no longer have a material interest in PVR. 3.As a company with no revenue, it's overheads are too high compared to other junior oil companies. 4. It's balance sheet is awfull and the debt to be repaid next year will prevent its share price from recovering as more equity dilution looms on the horizon. So the debt needs to be converted to equity or repaid from equity as soon as possible if there is not an imminent cash injection from a Barryroe farm out, otherwise the equity markets will start to discount the fundraising and the price drops like a stone. 5. Executives and directors need to show faith in the company and buy shares in the market as a sign of faith. I do not believe that there as been no period in the last four years when this could not have occurred. If there is a will to do this, a way could be found. 6. A reduced overhead should be funded by production cashflow from somewhere, it was a disastrous decision to sell Singleton which funded core costs. Production cashflow should be purchased from an equity funding not debt and because net assets per share do not decline it's not equity price dilutive. 7. Ireland is an exceptionally high risk exploration area with a poor commercial success rate. One area of high potential is the deep water south porcupine. The last dunnquinn well had a pre well chance of success reported at 10% by Exxon. For a junior oil company with no income such risks are too high to spend shareholder funds on . PVR needs to critically asses is geological and commercial chances of success and focus on the projects that can progress to project financing as quickly as possible, otherwise it's more and more dilution as high risk is funded by equity and with drilling so few wells it does not have a big enough drilling portfolio to ensure there is commercial success each year or indeed every five years. 8. PVR holds high equity percentages in a lot of licences, that's ok during the pre drilling stages, it needs to actively reduce its interests at the drilling stage. Because PVR is primarily an exploration company it needs the talent to do good farm outs, no evidence to date that it has this talent. 9. PVR needs to examine how it can use the latest technologies to de risk it's exploration portfolio. This is a challenge when dealing with an offshore basin that's undergone basin uplift. The exploration effort should focus on those projects that are sourced as a consequence of basin inversion and not a residue of basin inversion . That's how Corrib was found. The use of sea bed electromagnetics has had a huge impact offshore Norway in derisking exploration in deepwaters resulting in a 70% chance of success compared to Dunnquin which had a 10% chance of success. This could be very usefull in the southern Porcupine and pvr should farm out to get this done. Start by doing feasibility studies on the use of electromagnetics to check that the geology and well ties . 10. CEO needs to spend more time at head office in Dublin , does PVR need the cost of a London office and the associated costs there with. So PVR has potential which I believe in, but it needs a lot of work to generate shareholder returns. The days of the pump and dump are gone and more sophisticated strategies are now required" Jimmy
pollnagorm: Pageant's share purchase is expected to be announced to the stock exchange early this week, Pageant declined to comment on the purchase. PVR share price slump, Barryroe negotiations, etc,etc.
pollnagorm: From Jimmy24 on ii : The Titan commentary is interesting because it might reflect what the institutions were told to get the fundraising done. In summary, pvr have a billion bbls of oil in place at barryroe and that the company was unlucky not to have either been taken over at a much higher share price or to have got a farm out done for the development of barryroe, and that if it wasn't for the fact that pvr had to settled up money for the Transocean litigation everything would be ok.Well I believe you make your own luck, and it's true pvr has been very unlucky for a very long time. 1. was unlucky to buy gas field in the USA at close to the highest gas prices ever in the USA, only to sell the gas field when the gas prices had dropped more than half.2. Pvr was unlucky to get into the Aje field in Nigeria only to find the project was put on hold , then sold out and a similar interest to pvr stake was sold for nearly double the price a few years later and the field is now being developed.3. Pvr was unlucky not get the singleton oil field production to consistently produce more than 1000 bbls per day. 4. Pvr was unlucky to have had sever mechanical problems drilling a singleton development well.5. Pvr was unlucky to have to drill the last barryroe well during the winter.6. Pvr was unlucky to drill dunnquinn and find that the oil had moved away despite the seismic clearly showing a giant gas chimney above the prospect which showed the leakage.While Exxon mobile was reducing its intersect and risk by farming down, pvr kept its interest at 16 % and paid 8 % of the well costs, for a project that Exxon said had a low chance of success. Pvr could have done with that money now.7. Pvr was unlucky not to have got a good flow rate from hook head due to mechanical problems.8. Pvr was unlucky not have been taken over by an Indian oil company for nearly ten times the current share price.9. Pvr was unlucky to have had a partner San Leon who it bought out of the barryroe licence and gave it a 4% net profits interest in the field in exchange. Pvr has had to issue massive amounts of shares to fund barryroe and is likely to see its interest in barryroe much reduced if it farms out10. Pvr was unlucky that it was selling an oilfield development project and oil prices dropped and because of its debt and obligations to Transocean and obligations to pay for seismic it had to raise money at less than 10% of the share price a couple of years previously.. However, Titan say that's all ok because pvr is sitting on a billion bbls of oil in place. True.However, oil in place has no economic value unless it can be recovered. Yes barryroe has technically recoverable oil of circa 290 million bbls which can be produced from two oil platforms and circa 32 long horizontal wells drilled from the platforms. Previous estimate of capital cost circa 2.5 billion usd.So why have no major oil companies snapped up this opportunity or why has there been no farm out after trying for nearly three years, and the most likely farm in partner is a company that is relatively new to the oil business and does not have currently have the money to farm in?Maybe there is a problem or two with barryroe.Pvr have not advised shareholders if there are any technical problems with developing barryroe, one of its major assets.In my opinion, barryroe is a thin sand reservoir that is not imaged directly on seismic and therefore cannot identify intra reservoir faulting with 100% confidence and it needs more drilling and horizontal wells and extended flow testing to resolve those issues. As the barryroe field lies below the seven heads gas field which turned out to be compartmentalised and did not have a single oil water contact, the area is high risk as the group of banks that lent to Ramco to develop the seven heads gas field found out to their cost.In my opinion the appraisal of barryroe is likely to be a long drawn out process requiring a lot of farm out and equity financing.Remember that the CEO of San Leon explained that the reason they reduced their interst from circa 30% to a 4% net profits interest was because he believed barryroe would require a lot of equity finance to get developed and that taking dilution into account San Leon shareholders were better off having a 4% net profits interest than a large licence interest in the field. Then again he is a CEO with technical oil qualifications and he would be expected to know that kind of stuff.Now, I could of course be completely wrong but so far we have not seen any third party oil company validate barryroe by farming in. In addition, if barryroe was so valuable why do the board of directors hold so little shares in the company, It's interesting to read the pvr circular and note how many lines are written about barryroe compared to Spanish point. So yes, pvr has been very unlucky. Then again , do you make your own luck? And does pvr need a management team that are lucky ? J
funtimejonny: Today's on line Examiner has an article about the catastrophic decline in the PVR share price over the last couple of days. Worth a read!
dazah: On phone, meant PVR share price
hermana3: Steel, PVR share price a real conversation stopper in last year. Have we turned course at last with buyers taking charge again?
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