Providence Resources Share Discussion Threads

[funtimejonny] 25/5/2017 11:19

By the way Spuddy.Fair play to your Dad for taking them to task about share purchases. The best response on the part of the BOD at this stage would be to put their hand in their pocket and buy some more shares now.

[funtimejonny] 25/5/2017 11:17

Yep....I agree that looks like a distinct possibility all right. I think that if they do that they have moral responsibility to pay a really decent price for Logp. Shame that Lansdowne relinquished Amergin as it is right next door to Barry......I would guess it would be an all shares offer if it does come to pass. Watch this space as Tony would say.

[spuddymadrid] 25/5/2017 11:08

Hello there FTJ. Am also a holder of Lsndsdowne. Holder of Fastnet now Amryt a Pharma as Well. Think PVR may take over LOGP and Fastnet (old Licences including deep Kinsale + seismics) on the back of a successful Druid/Drombeg drill. This would consolídate them as Kings in the north celtic sea where Majors are now casting their eyes

[funtimejonny] 25/5/2017 10:48

Cheers Spuddy.I agree with you about Pat, who comes across as a trustworthy person and not a bulls hitter. Hopefully the other new chap can add some impetus to things when he comes on board as well. Fact is that there is a long road back from where the company was in 2012 and the failure to close the deal on Barry is a disaster for Lansdowne holders such as myself. (I hold both). Fact is Tony needs to get lucky for a change and fast....Barry needs closing out and Spanish Point as well before we start chasing new pots of gold at the end of the rainbow imo.

[spuddymadrid] 25/5/2017 10:34

Hello there Funtimejonny. My Dad challenged the Board on the take up of shares at open offer. Agree with You that proof is in the pudding. Hopeful of a good result on forthcomming drills and do Believe we Will get a Deal done on Barryroe. Dad and My Sister spoke for a considerable length of time with TOR, JOS, Pat etc. Found then very forthcomming. Pat no nonsense sort of Person. Straight talker. Pat's view is that things are positive for Providence with really excellent potential.

[funtimejonny] 25/5/2017 10:16

Looks like a feeling of collective euphoria and optimism has broken out in the wake of yesterday's AGM and presentation. No sign of this being reflected in the share price however. I managed to get along to the meeting myself and I was astonished when the call for a show of hands for TOR resulted in (probably) about 75% of the attendees voting for him to be reelected as CEO and only one punter put his hand up against this motion. Just shows you how easy going the Irish are! There is no doubt that the presentations were professional and the company has some potential....I prefer actions to words however and reserve judgement until I see some value being added to the share price arising from further farm out activity and more concrete plans for Barryroe Field in particular.

[1cagney] 25/5/2017 10:06

Steel you have a way with words. Full of sh1te is how we would describe him in my neck of the woods.

[riley9] 25/5/2017 09:40

Pvr appears to have moved from a lifestyle company to a serious exploration outfit. Guessing when the money ran out and the printing press was fired up was a bit of a wake up call. Recent board appointments have strengthened it considerably. All down to the drill bit now and you can't fault the quality of people involved with data and rig.

[steelwatch] 25/5/2017 09:09

nk - the glowering malcontent has had plenty of opportunity to put up or shut up, but has done neither. Jimmy still banging on about faults on iii too.

[eringael] 25/5/2017 08:52

Added a few in Sipp 27200, buys going through @ 16.19

[notaskanger] 25/5/2017 08:39

Richie only reads what he wants to read, hears what he wants to hear and sees only what he wants to see. If he really wanted to have a go at TOR, he had the perfect opportunity Yesterday but didn't take it. NK

[spuddymadrid] 25/5/2017 08:36

Yes Richie TOR was challenged on Barryroe and financial matters. Read my comment

[isef0001] 25/5/2017 08:22

timberwolf: My thoughts are that they are still waiting for final govt approval for the drill of the deeper Drombeg. Another farm in wouldn't necessarily delay the drill in my view. Could be wrong though! I reckon it'll be all go once they get the piece of paper from the govt. Cheers

[jusmasel99] 25/5/2017 07:41

Well prepared - just looking at page 35 of the AGM presentation - seems the Stena Ice Max can land a 747 on its helipad and just in case of any threats they have the USS Nimitz on standby with a back up semi Rig as well.

[moneytree1] 25/5/2017 07:37

the rigs been booked in hasn't it?

[timberwolf3] 25/5/2017 07:34

Slight delay in Druid drill, down to further negotiations on another farm out ?

[spuddymadrid] 25/5/2017 07:14

Morning Richie. Yes Someone did ask TOR why there was no mention of failed Barryroe FO. The answer was that they did not want to upset other negotiations that are ongoing. Think this is the correct way to Deal with things. After all a Deal is not a Deal until signed. Why show all your hand. The potential Farmanee opted for a bigger project in North Sea. But now Majors are looking at North Celtic Sea. Secondly TOR and Board were challenged on Lack of commitment regarding purchase of shares in recent placing. Response was that they Will be looking to take up their options and that there are considerable tax obligations in this respect. Believe things are turning at PVR and that Pat Plunkett and McCoss Will assist TOR and JOS move things forward

[hermana3] 25/5/2017 07:10

Richie, A dude did ask your friend about his prediction and he said it was an aspiration and it would not be commercially smart to announce party had gone elsewhere. Made reference to the battering he gets from the boards but he said he is CEO so the buck stops with him. He has the support of the Board and affable Pat was at pains to point out that he is impressed by the management team.

[richie666] 25/5/2017 06:52

Lol.So nobody questione ToR why he did not announce Barryroe slip earlier this year given his previous comments on it? Nor anyone take him to task on his salary again?U been fugazi'd!

[isef0001] 25/5/2017 04:20

Too tired to stay up half the night to read all the posts in a timely manner. Caught up this morning though and would like to thank all posters who attended and posted their assessments after the meeting. Very helpful and informative for those who couldn't be there. Thanks again.

[thevoid] 24/5/2017 23:12

Appreciate the AGM feedback, guys.

Good news at Druid and Barry over the next twelve months may mean a Dublin trip next year for me.

Here’s hoping.

[zhockey] 24/5/2017 21:13

He posted it here already :)

[abudhabi123] 24/5/2017 20:48

Posting on Discuss the Market by Spuddy

Was not at meeting but other family members were. After speaking to most of Board the news appears as follows: 1: Barryroe FO still hoped for with drilling next Year. Super Majors Looking at North Celtic Sea and Providence reexamining Its approach to the basin. Barryroe considerably bigger than initially believed. 2: Another FO of Druid / Drombeg very possible before Spud date. This to give us a free carry on drill for approx: 30% of The prospect. 3: Icemax very efficient. Calculated all in Cost to Providence 18m dollars before Another FO. Board very happy Cairn onboard. 4: Spud date late June. No flaring to be carrried out. Drill and once Oil discovered or not announcement to be made i.e. for Druid and thereafter for Drombeg. Total drill 45 to 60 days. Thus May Have news late July early August on Druid first. 5: Dunquin North. Contains more oil Than originally thought. 6: Dunquin South 3 d seismic to be carried out shortly. 7: Ávalon larger Than Drombeg. Another Company doing seismic survey on Ávalon. Providence do not Know why. 8: Very Big interest in Atlantic margin. Expect Majors to start drilling 2018. 9: Newgrange to be drilled possibly 2018: 10: Barryroe still considered very important and very large. 11: Company cannot comment on bloggers remarks but Comments relating to structural issues with Barryroe untrue. No compartmentalization.