Providence Resources Share Discussion Threads

[hermana3] 10/3/2017 07:07

1cag,I'll take those odds!!!!!

[1cagney] 09/3/2017 20:35

Herm 50:50 your prediction for 20p on Patricks Day I reckon.

[hermana3] 09/3/2017 19:53

Big Malcy's take on yesterday RNS

Providence Resources

I mentioned that Cairn had the cheque book out and today have farmed-in with Providence (PVR) on FEL2/14 where the 53/6a well is due to be drilled this summer. Cairn has taken a 30% stake and will pay for 45% of the well with a $42 million cap and also pay their share of the sunk costs of $2.82 million.

This is extremely good news for PVR as they will now drill Druid and Drombeg which was uncertain before and of course they get some cash in. It leaves them with 56% which will still make them heroes if it comes in, another huge well for investors to watch this summer.

[hermana3] 09/3/2017 19:09

GD,It sure is. Will we hear anything on Barryroe before St Patrick's Day? Wouldnt green tie TOR love to announce a farmout there on Bloomberg and CNBC!!!

[greatfull dead] 09/3/2017 18:53

buffy,

It is not spin, just a drilling mistake that happens to the best drilling companies too, then caution comes in which way to continue with the drill.

AEX may want to do a side-tract drill on NT-2. That may happen but not this year IMHO. NT-3 IMHO will be drilled next. I have my opinion and believe me I have done extensive research and have shared info with other SOLO and AEX investors.

You have you opinion, I have mine, shall we leave it at that?

After all this is a PVR bb.

ATB,
GD

[buffythebuffoon] 09/3/2017 18:08

You are believing the spin GD. Yes, they were being cautious, but, IMO, once they found themselves in a situation they weren't prepared for!

Buffy

[greatfull dead] 09/3/2017 18:03

Herm,

PI had higher exceptions, I know I did. Will get back in at de right price though.
One asset SOLO has is Horse Hill. They have applied for planning permission to drill an appraisal well. I have checked the status with Surrey County Council. IMO the planning permission will not be granted until Q3 2017. So plenty of time to get back in cheaply I think!

ATB,
GD

[hermana3] 09/3/2017 17:15

GD,Saw headline of suspended gas well for production then was surprised to see SOLO and AEX down yesterday.

[greatfull dead] 09/3/2017 17:02

Buffy,

AEX did not f..k up NT-2 as you say. AEX were being cautious. Listen to this and you will get the facts.

hxxps://audioboom.com/posts/5687443-neil-ritson-chairman-of-solo-oil-solo-8th-march-2017

Sorry all for being off topic.

ATB,
GD

[riley9] 09/3/2017 14:10

He'll be back, if only to tell us the share price isn't 10zillions quids per share after farmout news because tor hasn't resigned yet lol

[hermana3] 09/3/2017 13:53

Yes wee Richie is lying low in de Bradford long grass!

[peaeff] 09/3/2017 13:34

I don't expect their charges are 'fun in a bun' Herm.

[zhockey] 09/3/2017 13:16

NGMS, thanks and stand corrected

[stockriser] 09/3/2017 12:57

Better that, than the opposite, which some CEO's have done within 24hrs !!

[funtimejonny] 09/3/2017 12:47

I've heard they can even turn water into oil!

[hermana3] 09/3/2017 12:11

Nothing is impossible with mighty Schlumberger!

[steelwatch] 09/3/2017 10:06

GD - yes I was! LOL

[greatfull dead] 09/3/2017 09:52

ngms,

Now that is news to me.

Steel were you aware of this with SOU?

GLA,
GD

[ngms27] 09/3/2017 09:49

Schlumberger have a number of equity plays such as 27.5% of SOU's acreage in Morocco

[stockriser] 09/3/2017 09:48

Thanks for that guys - thoughts were just running along the line that Schlumberger would want a piece of the action as they were the ones who provided the glowing report on Druid/Drombeg.

[isef0001] 09/3/2017 09:43

Resourceful: You should listen to the interview with TOR on Steel's post 45411. TOR spells it out. The new estimated cost for the extended drill (Druid and Drombeg) is now US42 m. reached as a consequence of firming up contracts associated with the drill including the IceMax.

That incidentally, is a 16% reduction in the US$50 m quoted previously.Cheers

[greatfull dead] 09/3/2017 09:43

Stockriser,

IMO definitely not. It could well be Barryroe, if not then another license in the Atlantic Margin.

ATB,
GD