Providence Resources Share Discussion Threads

[stockriser] 27/7/2016 12:19

Not much in there then, unless someone who attended can provide more detail !!

27/07/2016 11:16am
UK Regulatory (RNS & others)


TIDMPVR


PROVIDENCE RESOURCES P.l.c.

RESULTS OF AGM

Dublin and London - June 27, 2016 - Providence Resources P.l.c. (PVR LN,
PRP ID), the Irish based Oil and Gas Exploration Company, announces that,
at the Annual General Meeting held earlier today, all ordinary and
special resolutions were duly passed. The full text of each resolution
was included in the notice of the meeting circulated to shareholders.
The Company also presented shareholders with an extensive update on its
exploration and appraisal portfolio offshore Ireland, including the
Barryroe farm out process and drilling plans for the Druid exploration
prospect in 2017. A copy of the presentation is available on the
Company's website at www.providenceresources.com.

Tony O'Reilly, Chief Executive Officer commented:

"We would like to thank our shareholders, both existing and new, for
their continued support of the Company's strategy. Due to the success
of our capital raise, we now have the financial resources in place to
develop our extensive and unique portfolio of assets offshore Ireland.
In addition to our substantial resource base at Barryroe and Spanish
Point, shareholders will now also participate in the planned drilling
programme on the highly attractive Druid prospect."

[greatfull dead] 27/7/2016 11:46

FTJ,

Not so. The processing at Whitegate may cease if the Indo report is correct. The refinery will not be demolished IMHO. It will be mothballed with a view to upgrading when and if Celtic Sea licences are in a position to schedule production. I need to remind all that is what I would do.

Pony sent earlier re SOU.

GLA,
GD

[funtimejonny] 27/7/2016 09:33

Not really Herm. The article suggests that the new owners will cease refining and only use the site as a storage depot. Lots of job losses on the cards if so and any barryroe tie up is out the windows for ever.

[hermana3] 27/7/2016 09:18

Leave a few sambos for the latecomers....

[ddz6006] 27/7/2016 09:15

I am in the Ballsbridge for the AGM 👍

[hermana3] 27/7/2016 09:10

Market liking Sound Schlumberger deal. Bring on the Druid deal....

[hermana3] 27/7/2016 09:04

Report in The Indo that Whitegate is effectively flogged. Good news indeed.

[hermana3] 27/7/2016 08:56

Steel,Now that is a "risk sharing" model alright...

[steelwatch] 27/7/2016 08:49

Hope so rog, but on a bigger scale. Schlumberger are already funding a hefty proportion of drill costs on the first two well program currently underway at SOU's Tendrara licence which Sound's CEO described at launch as a "synthetic farm-in." Onshore, so not nearly as eye wateringly expensive to drill of course, but SLB market cap $100 billion plus ....

[rogerlin] 27/7/2016 08:24

"Sound Energy, the Mediterranean focused upstream gas company, is pleased to announce the signature of an agreement with Schlumberger group entities ("Schlumberger") whereby Schlumberger has agreed to fund Euro 7.5 million of services to be provided by Schlumberger on the forthcoming Badile well. The agreement is subject to standard conditions precedent and signature of a Master Services Agreement ("MSA") between the parties to cover the Euro 7.5 million spend during a period expiring 18 months from the date of signature of the MSA.

In exchange the Company has agreed to grant Schlumberger an option, exerciseable at nil additional cost at any point during a six month period following the completion of a well test and the declaration of a potential commercial discovery at the Badile licence, to acquire a 20% net profit interest in the Badile licence".

Is this the sort of deal that Schlumberger have in mind with PVR?

[panadin] 26/7/2016 21:53

I Hope to sneak in at the back for a short while.

[steelwatch] 26/7/2016 21:19

herm - pas moi.

[hermana3] 26/7/2016 20:44

Any takers for tomorrow's AGM?

[hermana3] 25/7/2016 09:01

Well TOR now has a built in incentive not to botch another attempt at farming out Barryroe. Probably has a bonus built into package as well as reinstatemnt of full salary.

[steelwatch] 25/7/2016 08:14

Ahh, the little boy who cried wolf once too often, only there really was a wolf, but they all scoffed..

[richpass1] 25/7/2016 06:25

Well , if PVR say 'later this year' then it must be later this year.........like last year and the year before that and the year before that ....and ....you got it !

[rogerlin] 24/7/2016 20:14

Listening again to that interview, there are some specific statements in respect of timing:

Barryroe. "we've done a restructuring of our balance sheet...clears the way for us to be able to move forward and conclude a farm out on Barryroe later this year".

Spanish Point. "...looking to gear up for getting a farm out done this year into next year with drilling in 2018".

Druid. "...also they've given us funding for a very high impact exploration well which we are going to drill next summer off the west coast".

[hermana3] 22/7/2016 12:48

Steel, quick deals aint exactly de "modus operandi" here....

[funtimejonny] 22/7/2016 12:13

Got the auld rosary beads out already....and the prayer mat as well!

[steelwatch] 22/7/2016 11:59

herm - on borrowed time here shortly, so pray TOR cuts a deal soon.

[hermana3] 22/7/2016 11:28

Steel,Bet an announcement of a farmout or 2 here might help! O'Reilly was defo giving the impression to friendly Graham Wood of renewed interest since PVR doing a "Lazarus" once again....

[steelwatch] 22/7/2016 11:23

herm - many of us could not rise to de event, LOL

[hermana3] 22/7/2016 11:18

Steel,Was referring to the great unwashed(2 out of 3 sat out placing)!!!!

[abudhabi123] 22/7/2016 10:44

TIP TV Interview, which can be found on the PVR website.