Providence Resources Share Discussion Threads

[hermana3] 11/10/2016 20:34

GD,Wont be £16 ONGC were offering a few years back!

[greatfull dead] 11/10/2016 17:45

Herm, I do hope so and for a lot of money.

[funtimejonny] 11/10/2016 17:14

And we'll all live happily ever after! Rolling in wonga if we live that long!

[hermana3] 11/10/2016 15:33

This will be long gone as an independent in 30 months time. Plunkett will sell it if Druid comes in.

[greatfull dead] 11/10/2016 13:13

Same hear. though that is no worth thinking about. Who wants to live to be 100? I know I don't.
Its our children, grandchildren and so on who will bear the brunt of what ever happens.

ATB,
GD

[steelwatch] 11/10/2016 13:02

GD - will be long gone by then, unless Queen's telegram arrives in time.

[greatfull dead] 11/10/2016 13:01

Herm, thanks,

[greatfull dead] 11/10/2016 13:00

Steel,

Hydrocarbons may well be out of favour in 30+ years possibly. There are signs now that it already is.
I guessing that Saudi Arabia main export is hydrocarbons, possibly as much as 85% of their exports. The need to diversify a lot quicker from exporting hydrocarbons on the scale they have been. The longer they leave it the more costly it will cost them. They have trillions of dollars but need to spend IMHO at least 30% to 40% over time to bring modern industries that can function in their country. Possibly more than that over a 30+ years period.

ATB,
GD

[hermana3] 11/10/2016 12:43

GD,It would as Druid not very deep and a good deal has been cut on drill costs with Sclumberger risk sharing arrangement also.

[greatfull dead] 11/10/2016 12:35

Steel, No its not 'Unthinkable'...............

[steelwatch] 11/10/2016 11:01

Saudi Minister Says Oil at $60 by Year-End Not ‘Unthinkable’

[greatfull dead] 11/10/2016 08:27

Good morning Herm,

Would $50+ bbl cover the cost of a drill on Druid?

ATB
GD

[hermana3] 11/10/2016 08:01

Steel, Not a tight unit these days! Anything North of $50 helps in farmout talks.

[steelwatch] 10/10/2016 21:24

Trouble is, traders are a skittish bunch:

[steelwatch] 10/10/2016 21:15

Monthly IEA report tomorrow will influence immediate direction. Meanwhile:

[hermana3] 10/10/2016 20:47

It will this month for sure!

[stockriser] 10/10/2016 15:02

Will Brent break 54.32 this week ;-)

[keya5000] 10/10/2016 12:01

Nice theory SW, I can go with that. Was strange how the rug was seemingly pulled from beneath the price in a very short space of time.

[stockriser] 10/10/2016 11:29

Relevance of this chart ....?



Red arrow - indicates when ISIS took control of Mosul, various oilfields, and the start of huge financing of ISIS caliphate via the sale of oil on the black market. Also coincides with the beginning of a dramatic fall in the price of oil! Was the fall manipulated to reduce the income ISIS were receiving from oil sales?? All part of a clever strategy?

Green arrow - indicates the preparation for a huge assault on Mosul at the end of this month (October). ISIS have already, in the last few days destroyed 2 oil wells in the region, and intelligence indicates they have planted explosives on other wells. If they are going to be forced out of Mosul, they have no intention of leaving anything of value intact.

Result - ISIS have less income from oil, therefore no reason to hold the price of oil at current levels. Will ISIS begin targeting other oilfields etc etc .... Just some thoughts!

[tromso1] 10/10/2016 10:58

"We also believe there to be multiples of the current stock price in value within Providence Resources"

[hermana3] 10/10/2016 08:03

Wasnt easy getting him to cut his massive salary but he eventually gave in after concerted pressure from one n all. Sacrificing Mc Carthy to the wolves takes some pressure away and the feeling that Plunkett will make a significant contribution once he settles in. He may also prove to be a buffer between the Board and the much maligned CEO.

[funtimejonny] 09/10/2016 11:16

Oil price prediction by myself is around 55 usd by mid 2017, as future price increases will be moderated by frackers turning on the taps again. I agree that TOR must not bet the farm on Druid and should get a partnership deal on Druid to free up some funds to enable drills at Barry and share price with partners on a decent share of the potential resources realized. Also....I think that putting a bit of pressure on the guy through this forum was what made him introduce (belatedly) some cost cutting measures,so constructive criticism is OK in my book.