Providence Resources Share Discussion Threads

[hermana3] 30/11/2016 08:39

Dont worry it will! Plenty of other pots on the boil too here.

[ngms27] 30/11/2016 08:00

It bloody well should do :)

[hermana3] 30/11/2016 07:42

NG,Druid/Drombeg will cause a bit of excitement for sure!

[ngms27] 29/11/2016 17:17

I hope we do as it would give me a free ticket on Druid, which would be very nice :)

[phoebusav] 29/11/2016 17:04

A gamble increasing numbers of folks will be rushing to take over the coming months when the share price start to rise and they see $$$ signs. We can thank them now. :D

[ngms27] 29/11/2016 16:50

Yes they would. However an 80% owned drill on a Druid duster as things stand wouldn't.

Thats the gamble.

[phoebusav] 29/11/2016 16:39

Farm out of Druid or Barryroe, a discovery at Druid or further fundraising into a high volume pre drill ramp would all mitigate against quite such a bleak outcome.

[zhockey] 29/11/2016 16:39

I think that Dromberg cost would be much lower based on the recent figures.

But to humour you let's assume Dromberg is not drilled and the target is ONLY 3 Billion barrels, I would say that these are compelling odds, say 4200% upside vs 75% downside.

[ngms27] 29/11/2016 16:13

Can you all not read? Dromberg isn't being drilled UNLESS PVR get a farmout first. They have the cash for Druid only. Dromberg is an extra $24m

If they don't get a farmout and if Druid fails (most likely outcome based on COS) the shares will be absolutely trashed. It really will be a binary bet on Druid.

[zhockey] 29/11/2016 16:07

Yes in which case your 3p on Druid failure is way out, it all balances.

[phoebusav] 29/11/2016 16:02

NGMS, try page 15 of the November 17 2016 presentation.



'Total cumulative in-place un-risked prospective resources of c. 5.095 BBO (PMean), Druid c. 3.180 BBO (PMean), Drombeg – c. 1.915 BBO (PMean).' The recoverable prospective resource figures are obviously lower, but I guess that's what he was referring to.

[ngms27] 29/11/2016 15:57

They aren't drilling Dromberg though unless they get a farmout, same for Newgrange. That also means there share of the potential prize would also go down.

[zhockey] 29/11/2016 15:20

3 from Druid and 2 from Dromberg. Plus they may also drill Newgrange afterwards which has another few Billion boe

[hermana3] 29/11/2016 15:18

ZH,the 50/50 was also formulated in The Palace Bar,Dublin!

[ngms27] 29/11/2016 15:05

Where have you conjured up 5 billion barrels from? Too many Irish Coffees perhaps?

[zhockey] 29/11/2016 15:03

NGMS, 3p on failure maybe, but what share price on a 5 Billion Barrel discovery, £10? Considering it has been rated at what 50/50, that is a compelling risk reward.

[hermana3] 29/11/2016 14:26

Rog,For a huge company the decision making process at Petronas can be surprisingly quick.Let us hope it is a project they will prioritise.

[rogerlin] 29/11/2016 14:19

There is however some time pressure on Petronas to find some more gas to produce through Kinsale. In this shallow water the commitment to drill a gas well on the adjacent Barryroe is surely not so great? The Midleton drill took all of eleven days as I recall.

[hermana3] 29/11/2016 14:09

NG,What did Joe Nally and the team at Cenkos tell them greedy City boys about Druid that has got them so hot on it? He made a bomb on Cove's drill in Mozambique so maybe they think he is a London Oracle.If he is right on Druid he will be as rich as John Craven and a legend on AIM. If he is wrong he will never raise a button for Providence ever again.

[ngms27] 29/11/2016 13:41

I'm not really a trader, but not taking material drill risk if I don't have to is part of my strategy. If the shares doubled I might be tempted to have a free shot at the Druid drill, but if Druid fails PVR are going to something like 3p. That's the reality.

[hermana3] 29/11/2016 13:20

NG is a trader we are stuck here from much higher entry prices. New holders such as Pageant in for average 18.75p may unload a few when share price motors pre Druid. They may want to hedge their bets while others will continue to fly on the seat of their pants.....

[cgod] 29/11/2016 12:58

20p is no good to me, £5.20 more like.

[hermana3] 29/11/2016 12:51

That strategy makes a lot of sense,NG. Druid will attract some risk capital but a profit is a profit.

[ngms27] 29/11/2016 10:21

Thats just my personal view, it may well be wrong. However I'm investing based on that. For instance my investment here is purely as I think the shares will trade nearer 20p as Druid looms closer. If they do I'll be out without taking on the drill risk.

[steelwatch] 29/11/2016 10:13

No change there then.