Providence Resources Share Discussion Threads

[neo26] 21/7/2017 11:00

The city boys will know alot more than the usual pi, that's a fact..

[buffythebuffoon] 21/7/2017 10:38

Ianio, you are talking nonsense.

Nobody knows anything about what is down there until the drilling tools feed back direct information.

In almost any other walk of life, of course, the big money is more educated.

The investment is made on the basis of risk adjusted returns. Unfortunately that will be based on more than one drill, so if you think the chances of hitting paydirt (or rather more than just dirt) on this drill have improved, you are sadly mistaken.

Buffy

[zhockey] 21/7/2017 10:34

Stock, the first 3% was picked up between 16 and 18p.

[neo26] 21/7/2017 10:34

You have to remember pvr are surrounded by big players, this is due a rerate, pvr is more than druid and drombeg.Imho

[ianio5691] 21/7/2017 10:22

Greyingsurfer... sorry don't agree.

They do not throw money willy nilly at high-risk wildcat drills.

And if you think they don't have access to much better info than us, you are being naïve.

[ianio5691] 21/7/2017 10:19

I agree Stock.... I meant they are happy to throw a further £1m with a pre-drill top up.

Lets hope they are right!

GLA

This is getting interesting now.

[greyingsurfer] 21/7/2017 10:17

Goldman Sachs aren't known for throwing money away on speculative high risk oil drills.

Big instos do it all the time - there's an element of that when investing in E&P's a lot of the time. £3.6m is not a massive punt for them. It's a fairly small investment which they will have judged has a reasonable chance of a decent risk adjusted return. It doesn't mean they know a lot more than we do (no one does - that's why so much is being spent on the drill), or that they judge the drill can't fail.

Peter

[pre] 21/7/2017 10:13

post 49491, interesting comments and concur with your view.

Ianio569121 Jul '17 - 09:54 - 49491 of 49493 2 0

Goldman Sachs aren't known for throwing money away on speculative high risk oil drills.

Smart cookies who have better access to inside info than any of us mere mortals.

A £1m punt? Nah

If ever there were a buy signal - this is one!

[stockriser] 21/7/2017 10:11

Ianio - holding 24m shares on lets say an average of 14p (guesstimate) would be a £3.36million punt ;-)

[ianio5691] 21/7/2017 09:54

Goldman Sachs aren't known for throwing money away on speculative high risk oil drills.

Smart cookies who have better access to inside info than any of us mere mortals.

A £1m punt? Nah

If ever there were a buy signal - this is one!

[pre] 21/7/2017 09:50

They held circ. 18.5 million previously and now hold circ. 24 million.

[stockriser] 21/7/2017 09:39

5% next notification ;-)

[pre] 21/7/2017 09:37

That's some buying...they have bought an extra 5.5 million shares..now over 4%:-)

[ianio5691] 21/7/2017 09:37

Who said no manipulation....

Price being held for mates rates..!!!!

[stockriser] 21/7/2017 09:36

Probs been taking some of Capitals stake!

[ianio5691] 21/7/2017 09:36

Goldmans aren't fools....

And they are buying big...!!!

[ianio5691] 21/7/2017 09:35

Friday 21 July, 2017


PROVIDENCE RES.

Providence Resources P.l.c - Notification of In...


Providence Resources P.l.c. ("the Company")

Notification of Interest in Share Capital

Providence Resources P.l.c. have been informed by The Goldman Sachs Group, Inc on 20 July 2017 that with effect from 20 July 2017;

The Goldman Sachs Group, Inc now holds 23,979,904 ordinary shares of €0.10 each in the capital of the Company representing 4.01% of the issued ordinary share capital.

[pre] 21/7/2017 09:34

RNS out...Goldman Sachs have increased their stake by 5.5 million shares:-))))

[hermana3] 21/7/2017 07:58

Shell have just announced hitting paydirt at their Whale wildcat well. Yes it does happen....

[hermana3] 21/7/2017 07:42

NG,And they paid big! Better late than never....

[stockriser] 21/7/2017 07:17

Aye, well that's true - still it's good to have them aboard ;-)

[ngms27] 21/7/2017 06:58

All big business pay at the last minute.

[stockriser] 20/7/2017 23:20

I still question - why did TOTAL come so late to the show? Remember they had only 9 days to pay PVR all those millions to lock in that option - why 9 days? Whatever the reason, it can only be positive, but personally I believe they will show up again, and I mean in addition to Avalon.

GLA SR

[bump3r] 20/7/2017 23:13

But if you have data from Dunquin already...Maybe it's not a bigger risk or wildcat drill we are anticipating.