Providence Resources Share Discussion Threads

[pre] 21/10/2016 08:08

PVR also get 20% back from landsown so even better....this looks like a turning point for the company now imo...

[hermana3] 21/10/2016 08:02

Well done boys! Good at raising dough and fighting big oil in the Courts...

[funtimejonny] 21/10/2016 07:47

Well at last this long running saga has come to an end and management can now devote all their time to advancing work on Barryroe, Spanish Point and Druid. This is good news especially for Lansdowne who can well do without having a massive bill to pay

[stockriser] 21/10/2016 07:31

Good result ;-)

[itsriskythat] 21/10/2016 07:07

Just goes to show that Mr Justice Popplewell is his own man, and indeed was giving away no indication of his decision. The legal team of 10 did a great job!

[bump3r] 20/10/2016 20:02

Cheers IRAny verdict against us will flatten the price I'm hoping for a couple of Ying Yang rns's to push us forward.Put the court case to bed once and for all..

[itsriskythat] 20/10/2016 19:34

What I believe was disputed is that Transocean could claim its own costs for the proceedings between 2012 and 2014, and also for its appeal between 2014 and 2016.

With interest this now exceeeds the amount of the original offer that Transcoean made to Providence to settle their costs. So Providence claimed that Transocean should not be entitled to the full amount.

Should Transocean have won the payment of all of its costs, then it could also claim from Providence the costs for the current hearing.

To keep the analogy - last Friday David was throwing stones and once the stones had run out, then it was Goliath that picked up a rock and flattened David.

I wasn't there today so also in the dark about the verdict.

Hope that helps somewhat.

[funtimejonny] 20/10/2016 19:29

I don't know either. Was hoping somebody was there who could throw a bit of light on the subject. Expect rns tomorrow.

[bump3r] 20/10/2016 19:03

ItsriskyWas there no verdict given?I was the certain the placing money was discharged already for the appeal ruling against usI'm confused at to what sums are at risk this time about.Could you enlighten me.CheersBumps

[funtimejonny] 20/10/2016 17:59

Fairly costly affair then. Old Clongoes men I'm guessing.

[itsriskythat] 20/10/2016 17:34

Just wanted to say at this point that it was a bit of shocker to see the number in Providence's legal team - I counted 10 of them sat in a line in front of me. Transocean had 3 on their team. David seemed to me very well prepared in his fight with Goliath. It will be very interesting to see which side eventually pays their costs.

[hermana3] 20/10/2016 17:19

Should hear if David prevailed against Goliath tomorrow!!!

[funtimejonny] 20/10/2016 08:50

Expect you are right there. At least until outcome is known. Good find stockriser!

[hermana3] 20/10/2016 08:40

Wont be much trading today!!!

[steelwatch] 20/10/2016 08:17

herm - VE-Day would be better!

[hermana3] 20/10/2016 08:02

D-Day from The Courts methinks!

[stockriser] 19/10/2016 18:14

I done a lot of searching for anything to do with the hearing, and could not even find it timetabled in the court!!

Edit - well I have now found something ...


ROLLS BUILDING
COURT 8

Before MR JUSTICE POPPLEWELL

Thursday 20 October 2016

At 2:00PM

Judgment

CL-2012-000887 Transocean Drilling –v- Providence Resources

[itsriskythat] 19/10/2016 17:58

Mr Justice Popplewell said that he would submit his ruling early this week, as I was there in public seating. I do not know the outcome as his decision was expected this week.

[thevoid] 19/10/2016 17:23

irt - agreed ... a lot of price sensitive information goes through that court. Looks like a late trade spooked the share price but share price then ended unchanged

[hermana3] 19/10/2016 17:22

How do you know ruling was made early in week?

[funtimejonny] 19/10/2016 17:19

Wonder can anybody find out? I had a search on Monday and found nothing.

[itsriskythat] 19/10/2016 17:02

What's ominous is that a ruling would have been made early this week, but no RNS issued yet.

[thevoid] 19/10/2016 16:41

Does the drop in share price look ominous?