Providence Resources Share Discussion Threads

[hermana3] 30/9/2016 13:02

And they are as close to an activist holder here! Tony/s seat is getting hotter but as a punter said recently it is hard to believe they signed up a name like PP without being able to show serious progress in getting a farmout partner for Barryroe. He is busy rich guy who wouldn't join a sinking ship....

[stockriser] 30/9/2016 10:41

You beat me to it Steel.

[stockriser] 30/9/2016 10:41

Am I right in thinking that their previous stated holding on the 15th July was ....

"Pageant Holdings Limited now hold 27,577,209 ordinary shares of EUR0.10
each in the capital of the Company representing 4.61% of the issued
ordinary share capital."

A BIG increase in holdings there then ;-)

[steelwatch] 30/9/2016 10:40

Posted previously:

at 21st July 2016

M&G Investment Management Limited 14.67%
The Capital Group Companies, Inc. 9.71%
Henderson Group Plc 5.99%
Hargreave Hale Limited 5.57%
Pageant Holdings Limited 4.61%
BlackRock Inc. 3.51%

[steelwatch] 30/9/2016 10:38

Notification of Interest in Share Capital

Providence Resources P.l.c. have been informed by Pageant Holdings
Limited that with effect from 29 September 2016;

Pageant Holdings Limited now holds 40,023,630 ordinary shares of EUR0.10
each in the capital of the Company representing 6.69% of the issued
ordinary share capital.

Significant Shareholders (3% or over):
at 30th September 2016

M&G Investment Management Limited 14.67%
The Capital Group Companies, Inc. 9.71%
Pageant Holdings Limited 6.69%
Henderson Group Plc 5.99%
Hargreave Hale Limited 5.57%
BlackRock Inc. 3.51%

[steelwatch] 30/9/2016 10:25

herm - don't know about business class, but he need whole wide body jet!

[hermana3] 30/9/2016 10:07

Steel,A much smaller man/woman needed for TOR's seat!!!!. That crater of a man do not fit the bill for improvement/progress either.

[steelwatch] 30/9/2016 08:02

Herm - need to get de furniture reinforced, lol

[hermana3] 30/9/2016 07:49

Richie, Not much of a start that name!!!!

[richie666] 30/9/2016 07:10

John McKeown for a start. Proposing any name however is pure speculation. It is upto the insti shareholders now to make it plain that yet another 6 months gone by, no news on farm in and the stock price plumbing new lows means it is time for change re TOR's shoes.

[hermana3] 29/9/2016 20:52

Rich,Drop a few names then! Always a good idea to know who might be up for it before persuading Tony that life is a beach....

[richie666] 29/9/2016 18:04

Herm there are a multitude of names and now is a ground floor opp. Tor would however try to hold on until grim death.

[hermana3] 29/9/2016 17:12

Richie,Do you know of a name Oiler who would take up PVR CEO role were it to become available? Having Plunkett in the Chair makes the job a little more attractive.

[steelwatch] 29/9/2016 17:11

$50 Brent just now:

[richie666] 29/9/2016 16:37

"How big Tony keeps his position is totally beyond any human or logical comprehension."

That, indeed, is the 8th wonder of the world... Although don't be too vocal as you will get told of by his acolyte Herm!

[talkman2] 29/9/2016 16:09

Every time this company opens its mouth the share price goes down. New historic low today. PVR the company that keeps on giving !

Everyone who bought in the " great new dawn " at 12p are now under water.

How big Tony keeps his position is totally beyond any human or logical comprehension.

[renixus1] 29/9/2016 13:59

Article on Shell in Forbes, Deepwater is priority! Sorry not sure how to paste link. Growing focus, the Norwegians are also looking for big offshore untapped reservoirs albeit on the cheap. I'd say, very speculatively, PVR are having lots of discussions and PP is another talking mouth with a bit of experience.

[stockriser] 29/9/2016 13:52

Richie - thanks for your thoughts, mine are very much in line with yours BTW. Especially re: Melody!

[richie666] 29/9/2016 13:26

I also believe the seller has been melody in recent months. They were usefully (!) below 3% so have not needed to RNS sales.

[richie666] 29/9/2016 13:24

Stock. The apptmnt of PP is welcome news. My guess is that the company does now have an outline deal on the table re Barryroe otherwise what is the point in PP taking office. I expect he is to add some much needed gravitas to the Board. Disappointed to see McCarthy retaining a ned role however.

[stockriser] 29/9/2016 13:16

I gave up on ANALysts views a long time ago...lol

"We have updated our valuation to £18.09 per share (previously £17.33) on a full risked portfolio basis (most of the change is due to the inclusion of the Drombeg play)"

[steelwatch] 29/9/2016 13:13

Malcy:

Providence Resources

Providence is another company where shareholders are probably considering themselves fortunate to be owning something that has actual value after the recent shenanigans, in particular the Transocean court case. The darkest hour was just before the raise and now, 70m bucks better off and the bluest of blue chip share registers to boast of, the management are pursuing Druid which may be the company’s soothsayer next year. Today, in a long and detailed conference call the strategy was outlined, suffice it to say that when you don’t actually need the money the buyers are apparently queuing up to have a gander at Barryroe, and others in the data room and drilling costs are falling like stones. Tendering for the Druid work continues, as mentioned before the well will now cost around $35m plus another$15 if they go deeper and TOR said in his speech that this may have cost as much as $225m in the old days. The well is scheduled for June 2017 so there is no hurry but I get the feeling that ‘New Providence’ as it should be called will have plenty to say in the meantime…

[steelwatch] 29/9/2016 13:11

Davy:

Providence Resources
Interim results
Sep 29 2016, 08:31 IST/BST | Job Langbroek | Morning briefing |

Providence’s interim results are largely historic given that the post-balance-sheet July funding completely recapitalised the group and enabled a well in the Porcupine to be slated for 2017. With ongoing work to farm out Barryroe and Spanish Point, the group is in a better spot than it has been for some time

[steelwatch] 29/9/2016 13:04

#PVR Providence Resources and Barryroe is back in focus for investors, analyst says via @proactive_uk