Providence Resources Share Discussion Threads

[hermana3] 26/1/2017 08:57

Timber,Reckon he thinks he is T-Boone Pickens,lol. More George W Bush in the market's eyes....

[hermana3] 26/1/2017 08:51

Reckon the portfolio is full enough and all PVR needs is partners for Barryroe,Druid/Drombeg and Spanish Point. "Easier said than done" as our Tone would say between copious gulps of Chateau Lynch Bages.....

[timberwolf3] 26/1/2017 08:49

I agree TOR has stated recently that he doesn't want PVR to become a producer

[ngms27] 26/1/2017 08:42

I would question why on earth would they want to?

[funtimejonny] 26/1/2017 08:35

Last I heard on this was that Mcquaries were in talks with Shell re a potential purchase. Would PVR have the expertise to be operator of this beast? Would be a bit of a learning curve for them imo....

[jam2day] 26/1/2017 08:28

Shell are looking to sell Corrib along with other assets a result of the BG take out.Wether that be to a consortium or a single owner who knows.

[hermana3] 26/1/2017 08:25

It aint down to me I am afraid!

[1cagney] 25/1/2017 22:43

Sounds like you might be two moves ahead of me Herm !

[hermana3] 25/1/2017 16:54

Rog,Kinsale is down to a trickle but Corrib is a possible. With a Corporate Financier of the calibre of Pat Plunkett onboard now such discussions will be taking place for sure.

[rogerlin] 25/1/2017 16:47

"The consideration for these interests is $85 million (subject to working capital and other adjustments), which will be funded by deferred consideration payable from the cash flow of the Transaction Assets".

The recent purchase by ENQ of assets from BP is novel in that the purchaser doesn't have to put up any money till later, effectively a loan from the seller if I understand it correctly. Could PVR buy a stake in Corrib or Kinsale on such a basis and get some production income?

[hermana3] 25/1/2017 16:19

Ah but they may have disclosed their previous holding already and until current buy order is complete they are under no obligation to update company and market on their increased holding.Summer placing Institutional holders here paid 12.5p so wouldnt be surprised to see interested party snap up some of these.

[greatfull dead] 25/1/2017 16:17

You have not picking your nose. Only joking.

ATB,
GD

[1cagney] 25/1/2017 16:14

Excuse my fat fingers moment.

[1cagney] 25/1/2017 16:12

Isn't disclosure threshold something like 3% ? They are hardly anyqhere close to that amount conaidering only 5% in free float !

[greatfull dead] 25/1/2017 16:09

Stockriser,

A very interesting concept.

ATB,
GD

[hermana3] 25/1/2017 16:08

Yes our mega buyer holding powder today. Can they be close to target % and not wanting disclosure yet? Must tune into Bloomberg to see if they have the answer to my question.

[blustry123] 25/1/2017 16:01

thanks Stockriser.

[presto77] 25/1/2017 15:31

calm before the storm folks

quiet....too quiet!

[ianio5691] 25/1/2017 14:59

So I suppose he has effectively been in a closed period and prevented from buying for the last 5 years, as he's been promising an imminent BR farmout.....

[stockriser] 25/1/2017 14:54

Blustry, The BOD are prohibited from buying or selling shares if they possess any undisclosed inside information such as news of a possible takeover, a significant share issue or the win or loss of a particularly large contract.

[seangwhite] 25/1/2017 13:54

The lack of shares held by the BOD is one reason TOR has not been too keen to get on with the job.
As soon as anything proper is done with PVR the gravy train of TORs outrageous salary will cease and where else will he get another cushy number like this one.
Lets hope he overdoes the suntan lotion, slips up and has then to retire on medical grounds.

VGLTA

[blustry123] 25/1/2017 13:34

i understand management hold very few shares ,if something is happening wouldnt they be expected to bulk up?

[ianio5691] 25/1/2017 13:28

outrageous that TOR has made an almost annual event of promising BR F/O by end of year and has without fail - failed to deliver.
I thought/hope this year would be different on the basis of Pat Plunkett now being on board, a rising POO and interest in our other assets.... but yet again he has retained a 100% record of sweet FA.

What a complete waste of space this clown is.....

Should have bought shares in his false tan provider

[funtimejonny] 25/1/2017 12:59

Waiting with bated breath GD

[cephalosaurus] 25/1/2017 12:59

I would like to see the farm in of Barryroe tied in with Druid Drombeg Newgrange. That way, a farm in partner would share the risk at Druid, facilitate the deeper drill of Drombeg (which PVR might not do w/o a partner), and have Barryroe to fall back upon if both Druid and Drombeg are dusters. Depending on the results, I would then expect the farminee to buy PVR.

Apart from that, I think a sneaky takeover offer will come through pre-Druid by an opportunistic company who wants Barryroe cheap, and any upside in the throw of the dice at Druid. So, how much will they table for that? Perhaps 42.9p.

Of course that will be rejected. No company will want to 'risk' PVR becoming too expensive upon a Druid discovery, so I believe the best outcome is the former option.

Should all prospective buyers play their cards close to their chest and await a duster at Druid, then it would be an excellent hand indeed for a buyer who wishes to pick up the remains of PVR at 10p or less (assuming a duster at Druid). But I cannot see such a risky strategy being played.