Providence Resources Share Discussion Threads

[ngms27] 22/8/2017 16:00

Stockriser, as you know Total have equity in this drill and will certainly be in the loop regarding EXACTLY where the drills at, if not at the head of the table. I'd be surprised if Total don't have a Geologist or two onboard the Rig.

[greatfull dead] 22/8/2017 16:00

Stockriser,

Nope, I am steering clear of PVR.

GLA,
GD

[stockriser] 22/8/2017 15:50

Looks like some people like the risk at this level - GD that's not you getting back in is it?

[bloomberg2] 22/8/2017 15:37

200,000 shake alll done ?

[stockriser] 22/8/2017 15:31

jotoha2 - I agree - as idseer on LSE bb said a little earlier ....

"when u see a share like rkh drop from 80p to 10p to take out stop losses, then recover again, within 10 mins you wouldn't agree"

[stockriser] 22/8/2017 15:28

ngms27 - if this is not a duster Total will be the first company PVR will be communicating with.......
-----------------------------------------------------------------------


If TOTAL subsequently elects to exercise the Option, Providence, Sosina
and TOTAL will enter into an agreed form Farm-in Agreement to effect the
transfer of a 35% working interest and Operatorship in FEL 2/14 to
TOTAL. Any farm-in would be subject to the approval by the Minister of
Communications, Climate Action and Environment.

Speaking today, Tony O'Reilly, Chief Executive of Providence said:

"We are delighted to have agreed this Exclusive Option with one of the
world's leading E&P companies. Should TOTAL subsequently elect to
exercise the Option and farm-in to FEL 2/14, the JV Partners will have
the benefit of being operated by an industry leader in deep-water
hydrocarbon exploration and development".

[jotoha2] 22/8/2017 15:27

Here is my prognosis .
1 MM know it's a duster and are taking it down slowly so pals can get out without to much pain.
2 MM know they have hit the sweetspot and are allowing pals to get in before company confirms .

looking at the trades I am going for 2 , so have just bought a modest amount to confirm my thoughts.

[rayrac] 22/8/2017 15:24

Why? It's obvious that no one knows... just chickens running for the coop. 🏃🏻‍♀️🐓🚀

[bloomberg2] 22/8/2017 15:24

Their will be!! When Duster hits the wires !!

[ride daice] 22/8/2017 15:22

There is no volume.

[turbotrader2] 22/8/2017 15:21

It has to be somber news surely!
You cant tell me otherwise?
Love to be proven wrong however.

[bump3r] 22/8/2017 15:16

New low posted.Don't know if that's a good signal chartwise. Sometimes we need to post a new low before a bull runOthertimes it can mean a break to the downside.Let's see where we close.

[ngms27] 22/8/2017 15:09

stockriser, why on earth would they be in talks with Total? They certainly aren't going to buy PVR lock stock and barrel.

[stockriser] 22/8/2017 15:01

BTW real bid is 7.83p and thats for over 100k shares

[stockriser] 22/8/2017 14:59

And if the good RNS is followed by another good RNS - then maybe, just maybe 200-300% ;-)

[andinvestor1] 22/8/2017 14:54

I think we are back at the year low now. Down 10% today. This one is now a gamble for me but I only have a small holding and just added. If the RNS comes in and its good I believe we will see well over 100% (that would only be back to 15 pence - before the previous water RNS).

[rayrac] 22/8/2017 14:54

You never know...just have to guess?

[ccr1958] 22/8/2017 14:53

No not looking at all good ,but you never know ..

[zhockey] 22/8/2017 14:43

Doesn't look good does it, oh well you'd be very brave to be holding out for Drombeg success.

[rayrac] 22/8/2017 14:12

Down more than 8% now. Either someone knows or mm's doing their usual?

[stockriser] 22/8/2017 14:09

ngms27 - have a look at bottom of p35 and top of p36 - It's a loophole. If they have struck oil and are in negotiations with Total, then they are not obliged to issue RNS, as long as other parties do not trade the share, or unless the info becomes public. Obviously we interpret this differently, and it is vague. But most loopholes are.

[peaeff] 22/8/2017 14:03

Herm

I wasn't eluding only to the current drill I was more referring to PVR going forward. Over the past year we have been very fortunate financialy, firstly from the cash call and since from the farm ins of Cairn and Total.

Should Drumbeg end the same way as Druid, then where next (if not Barryroe) do we have any certainty of success. Things never happen quickly in this sphere so we will be, once again, locked in limbo with a stagnant share price for another few months at least. I know Spanish Point is a likely success but no-one seems to be in any rush, certainly over the past few years, to prioritise it. Why?.

I've probably become impatient to see my investment's value rise to a level a bit better than dire, but I accept that I didn't have to play.

Even with the cash we have in the bank I feel we still need some sort of positivity for things to feel as though we've hit the floor running instead of just hitting the floor.

regards

[funtimejonny] 22/8/2017 13:58

Plenty of time...but PVR don't have deep pockets like BP and the shareholders are getting restless as evidenced by the drop in the share price The partners will only pay the drill costs up to a certain cut off point.

[rogerlin] 22/8/2017 13:39

BP have been drilling at Ravenspurn north, admittedly with a side track, since December without any announcement. Plenty of time to go then.