Providence Resources Share Discussion Threads

[funtimejonny] 20/7/2017 15:09

Well at least he owns his own pair of trousers even if he's lost his shirt!

[peaeff] 20/7/2017 13:27

only from his own trousers. lol

[zhockey] 20/7/2017 13:19

Thanks Herm, you spotters are doing their job well :)

Any whiff of gas yet???

[jam2day] 20/7/2017 12:28

Brent knocking $50

[ccr1958] 20/7/2017 12:26

triple didgets would be nice ;)

[hermana3] 20/7/2017 12:22

Yes she restarted last night after moving away for 48 hours to allow them do the preparation work on the BOP. This time next week will be triple witching hour here.....

[zhockey] 20/7/2017 12:16

Anyone know if the ICEmax is drilling again yet?

[ccr1958] 20/7/2017 12:12

only 8 days into the drill, volume will probably pick up on speculation nearer TD, but low volume is classic behaviour at this stage ... exciting tho init :)

[hermana3] 20/7/2017 11:59

FL, Volume is only a mre trickle with only a few peeps bothering too so it is your classic Mexican standoff!!!!

[hermana3] 20/7/2017 11:53

Res,Would be nice if market was more enthusiastic but don't matter a hoot unless you want to sell. There has never been a commercial find in The Porcupine Basin so not surprising experienced investors aint knocking each other over to get a ticket on this drill. May get a few dippers before TOR is penning the must read Druid RNS. Let us hope he begins with "It gives me the upmost pleasure to announce.......

[freelunch] 20/7/2017 11:49

Dont worry about the market view worry about the drill result. Simple really market cannot have a scooby yet

[resourceful] 20/7/2017 11:24

a very very very long term holder
and supporter
but i worry about the market view

[greyingsurfer] 20/7/2017 11:13

Your continued pessimism leaves one a bit confused. Are you actually invested in PVR and if so why?

Surely these boards are intended for discussion?

It's an inevitable, but not very desirable, fact that the people who post on BBs about shares tend to be people who are invested, and therefore see them in a positive light. Should we not be encouraging a wider range of views and not discouraging them?

Peter

[gymratt] 20/7/2017 11:07

He's a deramper..and a transparent one at that.

[peaeff] 20/7/2017 10:58

Resourceful

Your continued pessimism leaves one a bit confused. Are you actually invested in PVR and if so why?. If not, why post negativity about a totally unknown outcome. If correct the time to start blowing your trumpet will be at TD Druid.

[greyingsurfer] 20/7/2017 10:49

NG,They wouldn't indulge the cos here. Didn't want to get punters too hot around the collar. Safe to say it is on the positive side as why else would the likes of Cairn and Total have signed up? Never have known a Scot or a Frenchie who does charity........

Undoubtedly there is a judged to be a reasonable CoS. However, Cairn and Total are real oil cos operating in the real world where less than 30% of wells drilled find commercial oil or gas. That is the standard they are used to, and they will be comparing any (for them small) investment against. So yes it's seen as a good investment opportunity in terms of potential risk/return, but that doesn't mean that the CoS of the current drill is massively higher than that of the normal run of drilling.

That's why the share price is where it is, and why there's an investment opportunity for those prepared to risk capital in exchange of a possible significant return.

Peter

[edgein] 20/7/2017 10:34

Ride,

Yeah SOU's badile had subcommercial gas discovery just not enough pay. Even their latest appraisal well in Morocco wouldn't even naturally flow gas.

Resourceful,

There's a few small volume profit takers or perhaps those selling at a small loss, perhaps they cannot afford to wait until the results are known. What does the market know about Druid and Drombeg, no more than is in the latest RNS' or PVR website. There is noone in the know on the well result, they only started operations 8 days ago.

Regards,
Ed.

[resourceful] 20/7/2017 10:23

so,no one knows why there are more sellers than buyers
the market is rarely wrong

[hermana3] 20/7/2017 10:11

NG,They wouldn't indulge the cos here. Didn't want to get punters too hot around the collar. Safe to say it is on the positive side as why else would the likes of Cairn and Total have signed up? Never have known a Scot or a Frenchie who does charity........

[ride daice] 20/7/2017 09:54

I thought they found gas in sub commercial quantities. Get your facts straight.

[ngms27] 20/7/2017 09:53

I wouldn't get too excited about success. SOU had Badile with a COS of 34% but said the internal COS was much higher.Schlumberger liked the Seismic and farmed in.Yes it found oil but in sub commercial quantities. I'm sure there will at least be traces of oil at Druid but personally Drombeg looks a better option to my eyes.

[resourceful] 20/7/2017 09:30

whats wrong
drilling ongoing
the price falling!!!

[edgein] 20/7/2017 09:19

Herm,

No shouldn't be a problem at all, in fact them seeing it as over pressured is a good thing. It shouldn't be a problem as they just have to keep the well balanced and it'll be as smooth as drilling a normal pressure reservoir, if they're anticipating over pressure they'll be prepared before entering Drombeg. Danger is though going too heavy on the mud and causing skin damage, but they've experts on the job and I'm not expecting any major tech issues (but cannot be ruled out entirely on any well). The higher the pressure the better though, likely more hc saturated, possibly a good drive mechanism down there to aid recovery if its over-pressured compared to its depth.

I'm a little surprised that they're seeing Druid as light oil filled and normal pressure for its depth. With the given estimated volumetrics for that one I would have thought even with a reasonable GOR it would be over-pressured too. It'll be interesting to see how the well data compares to PVR's website interpretation of these two. If their website is bang on the money folks will have to give more weight to their other prospects. Certainly if these targets are successful a read across to the likes of Avalon can be made. Nice to see the bb very subdued too, UKOG was the same before BB-1, only about 5 of us posting there at that time.

Regards,
Ed.

[hermana3] 20/7/2017 08:48

Rog, They have done rather well so far. Wont match performance of The AM partnership and Icemax of course...
Ed, Thanks for your technical read on Drombeg. When they say it is overpressured is this a big problem? There is intact top seal according to Schlumberger.

[rogerlin] 20/7/2017 08:32

Woodside Quarterly re Fan South in Senegal, "the well results did not meet pre-drilling expectations". The Drillmax/Cairn combination not infallible.