Providence Resources Share Discussion Threads

[steelwatch] 23/8/2016 19:48

De nada herm. You back in de Costas?

[hermana3] 22/8/2016 16:44

Cep,Agree biotech is even harder to guess than Oil and Gas. Can you imagine Tone getting his head around it? As Abu put it earlier a nice guy but the jury is definitely out on his ability to close a farmout or a takeover deal.

[cephalosaurus] 22/8/2016 16:25

Biotech highly risky, more so than oil exploration. Let's face it do you know the science of what you are investing in? Probably not. And Warren Buffet advises only to invest in stocks that you understand inside out. Extreme risk with Amyt, and the price collapsed as soon as listed.

[richie666] 22/8/2016 14:13

Pap - I beg to differ. They have 2C reserves.

[papillon] 22/8/2016 12:02

steelwatch. Congratulations on SOU. I notice that Lucien Miers, a shorter who contributes to the shareprophets blog, is recommending shorting SOU at the current share price He reckons it is very overvalued at the current Mkt Cap. Be interesting to see who will be proved correct over the rest of the year. The bulls of SOU, or the bears. I have no idea. I just know it's an O&G. I don't invest in individual shares anymore, but I've kept my AMYT shares (shares bought last year when it was called FAST an O&G). I might have better luck with a biotech! I had NONE with O&G's. Of course it was my stupidity and greed that lost me money on O&G's, not bad luck.

[papillon] 22/8/2016 11:54

richie666. PVR hasn't any proved reserves (P1 + P2). The Barryroe RESOURCE comes into the C1 + C2 category.

abudhabi123. Wow. Sesquipedalian; that's some word and a new one for me. I'll have to remember that word. Many thanks for increasing my vocabulary.

[steelwatch] 22/8/2016 08:34

There is a common denominator: SLB, so ya never know :)

[richie666] 22/8/2016 08:21

Steel - SOU were on my radar too! PVR simply needs management change. Nothing at all wrong with their licences and reserves base. Execution is the issue.

[steelwatch] 22/8/2016 08:15

Richie - should have placed your bet on the likes of SOU for a fast return. 6 months amounts to the attention span of a gnat here.

[richie666] 22/8/2016 07:02

Steel - a mixture of stock and derivative position. My stock position is larger than TOR's.

Abudhab - OK then u appear obsequious.

[abudhabi123] 22/8/2016 06:30

Richie666/RICHIEBOY666
What do you mean by exposure....do you own 1 million shares?
Looked up sychophant in my dictionary...I think you may mean sycophant which means "a person who acts obsequiously towards someone important in order to gain advantage"
I can assure you, Mr Richard Jennings, that I do not need to gain any advantage from TOR, whom I do not see as someone important, but as an equal.

[steelwatch] 22/8/2016 00:11

Richie - when you say you have exposure to, does that imply you are leveraged? Judging from your posting history, you are 6 months in. Right?

[richie666] 21/8/2016 22:42

Anovas/abuhdabi - I have exposure to 1m shares sir. The purpose of the campaign is to bring to the wider market's attention the abject failure of TOR and his Board over the last 4 years.

With respect, if you deem a 99% fall in the stock price, bringing the company to the brink of administration and putting EVERYONE under water you are not an acolyte, you are in fact a deluded sychophant.

[abudhabi123] 21/8/2016 18:59

All this negative talk about O'Reilly and the PVR board seems to avoid the fact that it was O'Reilly and the board who put this incredible portfolio together and who, in what was a difficult market, successfully raised a lot of money from major institutions, clearly endorsing the strategy of the company and setting it up for an exciting period in the years ahead. Yes, it was mostly ii's who invested, but having paid up and owning such a large proportion of the company, it is clearly their call on O'Reilly and the board, and I haven't heard or read about any of them calling for regime change - indeed, they must have invested following presentations from O'Reilly - so surely, if they wanted regime change, they would have said so then?

So smaller investors trying to call for change, such as Mr. Jennings, clearly don't represent the majority of shareholders as the major ii's have already spoken by investing.

My own view is that if Jennings is really interested in seeing the share price go back up, he'd be better served keeping his mouth shut as all he is doing is creating a worse perception for the company by promoting a negative media campaign. But he does seem hell bent on promoting his own agenda and what is all this talk about him taking an action against the board? Personally, I don't understand it, but if he believes it, what is he waiting for?

Now, I don't know Mr. Jennings so I can't comment on him personally - but he has put himself out in the public eye as a self proclaimed activist - but he doesn't represent me.

Does anyone on this board actually know him or know how many shares he owns or whether he invested in the last fundraising?‎ I am also curious, being so unhappy as he appears, why he didn't go to either the AGM or EGM to raise his concerns as surely that is the proper forum to do so rather than trying to conduct a negative media campaign from afar?

Now, I know that I'll be accused by others on this board of being an O'Reilly accolyte and yes, I have met him and personally, I like him -- but to be very clear, I am not happy with him or the way things have gone at PVR as I have lost a lot on my investment.

But that being said, I am also a realist and so I really can see no purpose in such a campaign of negativity towards the company - how does this help the company?

O'Reilly has clearly got the support of the ii's for now - but even he must know that such support will be very short lived if he doesn't deliver..and so my position is let's see what the next year brings.

[riley9] 21/8/2016 15:45

Shut them up by closing a deal or three, duh.

[funtimejonny] 21/8/2016 15:07

Why? Is it ever wrong to speak the truth?

[hermana3] 20/8/2016 19:33

Align putting more heat on our Tone for sure! Time to shut them up....

[richie666] 20/8/2016 17:21

Thankfully Funtime I have not been wiped out but have certainly suffered losses. If you have taken a major hit then I sympathise.

It is time to step up a gear re safeguarding our company. The assets are there but management are not capable of monetising and executing. That is plain.

[funtimejonny] 20/8/2016 16:03

Nice one Richie. Totally agree. I've been wiped out by this as well.

[richie666] 20/8/2016 13:38

Runway - never heard of bravery and considered not hiding behind a bulletin board handle?

[runwaypaul] 20/8/2016 12:54

never heard of a stop loss Jennings?