Providence Resources Share Discussion Threads

[hermana3] 01/9/2016 15:06

Prospect of a wildcat 9 months off don't mean jack here!

[runwaypaul] 01/9/2016 14:50

just when you thought it may rise

no no no

[cgod] 01/9/2016 07:43

Could see the shares have a slow recovery now, lets hope so.

[hermana3] 01/9/2016 07:19

They must be very confident of a partner or at least a serious tie in deal with Schlumberger for Druid. Tony and JOS still prepared to roll the dice and the potential upside of Druid is what drew the dough from City boys. Cant knock them for lacking "cojones"....

[funtimejonny] 31/8/2016 20:44

Ah well! Not forgetting Barry roe of course.

[steelwatch] 31/8/2016 19:21

Ftj - actually, neither Druid or Drombeg figured in that ill fated list:

Dunquin North, Spanish Point, Dalkey, Rathlin and Dragon:

[funtimejonny] 31/8/2016 19:09

Well no.2 of the 6 well 2 year drilling programme announced about 5 years ago!

[hermana3] 31/8/2016 16:57

Jeez it would seem to be a well!

[peaeff] 31/8/2016 12:18

srvsrv

I would have hoped a little more than that, especially with a good upfront cash settlement. That would open the door for further exploration more quickly than is possible at present. However we've been clinging to the Barryroe hope for 5 years now and I'm afraid I was not prepared to average down any further, or at least until some positive move is forthcoming.

[srvsrv] 31/8/2016 11:50

Peaeff - I also need a share price around 40 to be break even - have averaged down quite a bit around the 10p. The 40p should be fair value if Barryroe is farmed out.

[peaeff] 31/8/2016 11:46

srvsrv

That may well be the case for some but I assure you that many others, such as myself, are looking from the wrong end of the binoculars. A ten bagger from here gets me nowhere near parity, but it would at least be on the way.

[srvsrv] 31/8/2016 10:59

yes a farmout of Barryroe and Spanish Point this year and Druid Drilling (and maybe Dromberg and Newgrange) could mean a mulitbagger from here

[peaeff] 31/8/2016 10:45

Dare I be so bold as to say that, at last, something positive is emanating from within the inner sanctuary. Having been taken to the edge of the precipice it's a good feeling to be able to take a couple of steps back from the edge and hold on to the thought that my investment is, for now, a runner.

It's a shame that we still have 10months to wait before the spud because timeframes to PVR are like a bad bus service. With an 80% share I would have thought it might be a good idea to try and get a major on board and take a further 30% as it may prevent another Barryroe debacle, if successful, and also reduce our share of the costs significantly.

Having said that I do realise that the majors we have had on board, our various projects, have done very little for us in the past. Patience is now the order of the day and the Barryroe situation needs a desperate shot in the arm soon.

Regards PF

[steelwatch] 31/8/2016 10:03

..and Davy:

Drilling on Druid target set for June 2017
Aug 31 2016, 08:58 IST/BST | Job Langbroek | Morning briefing

The appointment of a well management company points to a well on the Frontier Druid prospect in 2017. At the same time, cost estimates continue to tumble and the group is now guiding that the well will likely cost $35m gross. The planning of the first of several wells over the next two years and the reduced cost to drill that first well is positive and positions the group at the front end of the new wave of anticipated drilling along the Irish western margin

[flyingbull] 31/8/2016 10:02

August was a good month for the oil price. The challage is on for September!
Fancy a challenge? Which oil stocks do you think will gain or which will lose?

[richie666] 31/8/2016 10:02

"... progress needs to be made, and quickly, as doubts over the economics of Barryroe start to manifest."

This is the BoD of PVR we are talking about... No sweat, more pressing matters for em like sailing regattas etc...

[steelwatch] 31/8/2016 10:00

SP Angel comment:

• Providence Resources (LON:PVR – 11p) – Licence Update: Today's update detailing the extent of the drop in cost estimates underlines the ongoing difficulties in the rig market, which is to the betterment of oil and gas companies with active exploration programmes. The repayment of the existing debt and availability of liquid resources places the Company in the strong position, and the portfolio remains a key feature, attention will continue to turn towards the farmout of Barryroe. Despite the low oil price environment, progress needs to be made, and quickly, as doubts over the economics of Barryroe start to manifest.

[richie666] 31/8/2016 09:52

Funtime - or a payrise for ol permatan and his band of merry sycophants?!

[funtimejonny] 31/8/2016 09:28

With the money they hope to save on Druid....Can they use this to drill Spanish Point or Barryroe as a joint venture with another party?

[steelwatch] 31/8/2016 07:20

Well management appointment: Senergy. $35m well cost.

[richie666] 30/8/2016 10:56

Another month and another 40 oddk euros in the pocket of our "great" leader. And still no news...

He is the sheer embodiment of the Irish's propensity to tell tall "tales"...

[hermana3] 29/8/2016 07:48

Out of a whopping Waterford tumbler for sure and it aint non vintage either!

[funtimejonny] 28/8/2016 11:54

Not sure on that one me self
.one thing for sure....he ain't drinking his champagne out of a jam jar.

[abudhabi123] 28/8/2016 11:37

I do not believe that if you are a resident of a European country you can have an offshore bank account in that same country. I stand to be corrected!!!