Providence Resources Share Discussion Threads

[steelwatch] 17/3/2017 10:25

herm - 30-60 should do both and option may be for second appraisal, or cheeky peeky at de Spur!

[hermana3] 17/3/2017 10:11

Steel,Makes sense to have Drombeg as an option!

[steelwatch] 17/3/2017 10:05

Happy St Patrick's herm, GD & all. Vessel procurement previously mentioned is for "1 well firm (30-60days) + 1 well option" in line with rig hire.

[hermana3] 17/3/2017 10:02

GD, Big holders still keeping pressure on management to farmout Barryroe(any deal which involves a freecarry on at least 2 additional drills will be welcome) and what institutions want they get!

[hermana3] 17/3/2017 09:52

FTJ,"Them Masters Of The Universe" fold their religion in their wallets and we are not worthy to have them come and put their van on our lawn(temporarily of course!).

[greatfull dead] 17/3/2017 09:48

Herm,

My opinion differs.

Barryroe FO I feel has been ramped a lot of late. I feel Druid will come in then Drombeg. I could be wrong of course. If Druid comes in mid cap companies and Majors will be knocking at PVR door big time.Or PVR may stall them and drill Drombeg, if that comes in too then farm out a portion of both.

With the monies from the farm outs do either the 2nd appraisal drill on Barryroe or enter into an exploration collaboration agreement with Schlumberger and go for a more detailed 3D seismic on Barryroe.

All conjecture on my part.

ATB,
GD

[funtimejonny] 17/3/2017 09:39

There is much discussion on the iii board about Goldmans taking a position in pvr. The concensus seems to be that this is a highly auspicious and positive omen for a successful outcome here as Goldmans are seen to be the shrewdess investors on the planet. Hope they are right about that!

[thevoid] 17/3/2017 09:23

1cag Wow ... don't want to get ahead of the game, but do you see a Leicester Square premiere, our hero on the red carpet, unwashed tossing flowers in his path?

[hermana3] 17/3/2017 09:04

GD,They wont wait for drills before farming out Barryroe imho as way too risky. Take the bird in the hand I say.

[stockriser] 17/3/2017 08:54

Aye Happy St Pats day to all .....

US speaks of N Korea military option

[funtimejonny] 17/3/2017 08:48

Happy St Patrick's day all here!

[greatfull dead] 17/3/2017 08:13

Herm,

No predictions on where the share price would be if Druid and Drombeg were a success. If they are a success I would anticipate PVR would do a second appraisal drill on Barryroe before any farm out on the license. Then the share price would be ???p.

Have a good Saint Patrick's Day amigo.
GD

[hermana3] 17/3/2017 07:59

A Barryroe farmout,Success at Druid and Drombeg could see PVR at 200p but depends on the size all three.

[1cagney] 17/3/2017 02:02

Ny boy I think we are all here for profit and perhaps a bit of a dream but I really don't hope that you are relying on ur expectations

[1cagney] 17/3/2017 01:56

Tv the thesis has movie potential

[ny boy] 16/3/2017 23:33

Too much analysis, in simple terms, the share price is going to 700p, hold & forget about these until then. GLA

[thevoid] 16/3/2017 23:25

But good for the thesis, eh 1c?

[1cagney] 16/3/2017 23:12

Ceph my brain hurts with all the hypothesis. Of course it's possible that you're right.

[cephalosaurus] 16/3/2017 22:28

Druid could be a smoke screen. A buyout of pvr lock stock and barrel before Druid might be the end game.

[1cagney] 16/3/2017 20:47

I agree Herm. They're not going to publish with unfinished business going into a drill.

[hermana3] 16/3/2017 19:25

FTJ,He landed Cairn and now he ought to be closing similar "big Beasts" for Atlantic Margin plays. Results mid April must be the deadline for Druid/Drombeg farmouts. Barryroe is a separate and even more urgent priority.

[stockriser] 16/3/2017 17:09

I like what this guy says ;-)




Consequently, many of the 400 delegates at the conference at the Sage Gateshead were cheered by a presentation from one of the world’s leading oil and gas consultancies Rystad Energy.

Mark MacLean, senior vice president and UK head, concluded his address by predicting a rise in the oil price, and an increase in the number of offshore projects.

He said: “Some say we have reached peak oil demand, but oil demand has never been as high since the 1970s. I cannot see that changing for some time and, as a result, we expect to see an increase in the oil price over the next few years.”

He began his address by reflecting on the period since the 2104 oil price crash. He said the cycle had followed a familiar path; from over production, to a cut in spending and an accelerated decline in infield drilling.

He said the decline in conventional oil projects has been at ‘unprecedented levels’ and said that in relation to predicted demand this is an ‘unsustainable course’.

“The conventional oil projects - the baseload of the oil and gas market - take three to six years and we needed to start building now for the next cycle.

“Up to now there has been no significant rebound, but 2017 is a transition point and we are seeing more new projects being sanctioned.

“We had reached the lowest point since 1950, when only 10 projects were approved, but we expect to see 30 to 35 approved and this is setting up the stage for a new oil cycle.”

While acknowledging the growth of renewables such as solar and wind he said they account to 3% of global supply and said it would be ‘another 20 to 30 years before renewables would result in a significant impact on oil demand’.

[hermana3] 16/3/2017 16:57

FTJ,No sign of him networking in "The Green Derby" this year. Too busy working away omn farmouts probably!

[greatfull dead] 16/3/2017 16:21

TOR has been gagged by Pat Plunkett for sure!

GLA,
GD