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
  -0.375p -4.11% 8.75p 8.50p 9.00p 9.50p 8.625p 9.125p 2,437,546 16:03:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -17.8 -14.4 - 52.30

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Date Time Title Posts
19/8/201718:36PVR - The Irish Explorer51,150
18/8/201715:55PVR SHORT DOWN TO 1P1,779
31/7/201709:30PVR - The truth about "Junior" -
08/7/201717:17Oil is Dead and Offshore Oil will Die First1
28/10/201609:24PVR - Providence Resources10,226

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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 9.13p.
Providence Resources has a 4 week average price of 7.88p and a 12 week average price of 7.88p.
The 1 year high share price is 20p 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 2,764,937 shares. The market capitalisation of Providence Resources is £52,295,158.83.
calder27: Again from PennyPusher on the LSE boards: --- My logic (including several assumptions) is as follows: If Drombeg is dry, the share price will drop to 5p. From the current share price of 8.5p, this is the equivalent of betting 3.5p. If Drombeg is oil bearing, the share price will climb to 25p. From the current share price of 8.5p, this is the equivalent of winning 16.5p. Essentially, the returns are equivalent to odds of 4.7/1, which equates to 17.5% probability. If you think the chance of success is lower than 17.5% then you should sell, if you think the chance of success is higher than 17.5% you should buy. 5p downside and 25p upside are just some fairly conservative assumptions I've used. It we change them to 6p/30p (-2.5p vs +21.5p) it's 8.6/1 and the decision point moves to 10.4% chance of success.
offerman: Gersemi - 17 Jul 2017 - 07:26 - 49230 of 49245 - 2Absolutely spot on. But they have found oil at Barryroe They just. Need to find a partner to commercialise it and explore the upside potential. Totally agree though all these licenses updates PV I've been putting out the last few years look good on the face of it but the difference with the markets now is stocks don't get priced ahead.Years ago, you would've found that these types of updates would've rocket the share price but the market is very fickle and to be honest more realistic these days hence why I PV are are not priced in the pounds but in the pence. If you were to look at it literally PVR are actually in a better position now than they were when the share price was 9 pounds. But the financial crisis the oil-price Plunge and the realisation that all stocks were overpriced years ago based on potential rather than actual production so in a way it's better to find you the stocks the way they do today. Because if the stock rises then it's going to be on and all find actual assets not just theories or probabilities which would then in turn make it less likely for that stock to plunge. Years ago stock would've risen 10 20 30 fold on potential alone but if it was a duster it with then plunge massively. At the moment PVR is very low on its share price anyway so even if the current drill comes in A duster The share price will be far less affected than if it was currently trading in the pounds. Should mean many more people get less burnt. Problem is I wish all of this took place years ago as I got hugely burnt as many of you know and many of you here also suffered. So I would say the company is in a really good position at the moment and even if bad news does come from the drill it's not going to sink the company.
harrissen: Has dilution been the only reason for this monumental collapse in the share price from 850p (forecast 1250p) 5 years ago, down to a derisory 15.5P today? Independent.i.e Providence Resources' share price breaks €7 barrier Peter Flanagan   April 11 2012 5:00 AM SHARES in Providence Resources broke though the €7 barrier for the first time in nearly four years yesterday as a London investment house increased its target price for the stock yet again. Liberum Capital increased its target for the stock by nearly 50pc to 1250p from 850p. The broker cited what it called the "highly successful" appraisal well at Barryroe off the Cork coast and the successful fundraising the company announced earlier this month. Drilling at Barryroe last month revealed oil in greater quantities than had been previously thought and confirmed the field could be used for commercial production. The company also raised $100m (€78m) in a share placement at a premium to Providence's then share price. Shares soared on both occasions. Liberum analysts Andre Whittock and Rob Mundy retained a particularly bullish view on Providence. "Following the results [from Barryroe], we now assume [the site] contains 100 million barrels of oil (up from 50 million) and that Providence farms down to 40pc in return for a development carry. "Our value of Barryroe and Providence's Singleton field in southern England is now about 1045p. "We have set our price target at 1250p (our base net asset value plus half the risked appraisal value, up from 880p) and hope to increase that further. "We retain a 'buy' recommendation." By the close of trading yesterday, Providence had added 3.05pc in Dublin to close at €7.10, its highest point since 2008. It was a similar story in London where shares in the company ended the day at 566.5p,
edgein: Pap, Very true, it'll depend on the results given, as did the share price of SOLO. Just saying that when the action starts sellers clear fast. I sold on the day of the results on SOLO so didn't get the peak, however the well flowed at 17mmcfd and the market were probably expecting around 40mmcfd as the well had multiple times the pay of the discovery well. The share price collapse wasn't so much about the result, that was only part of it. It was a series of events also the change in direction from back to back drilling of NT-3, kicked off down the road. Moreover NR then spent what money SOLO had left on a long term Helium project, that could be long term very beneficial but constrains cash at a time when they need it for NT-3 and NT-2 development etc. So it was a number of factors that caused the decline in share price. PVR however after Druid won't be cash constrained due to the farmout deals done and the large cash payment from Total to date. I was just using it as a reference of what a share price can do during drilling after a large seller (in the case of SOLO an insti that had taken 15% of the company offloaded them all). But very true exploration is highly risky and not for widows or orphans. On the other side of that I entered here after a 140-150% profit in UKOG in about a month, so it can as you say have its upside too. Regards, Ed.
1cagney: Herm, So an rns is not only necessary from PVR re Capital shareholding but is a legality ? Richie, Credit where credit is due but I would think its fair that you equally publicise the negative aspects of your 'hot tips' Anyway if PVR share price goes where we all want it to go I'll join ye for beers in Dublin. (With or without the blac bush)
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: 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
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