Providence Resources Share Discussion Threads

[nick rubens] 13/9/2017 09:14

Anyone know the cash position here at PVR? Will a placing be needed before any potential Farm In deals? cheers NR

[blustry123] 13/9/2017 00:05

Funtimejonny,True easy to get sucked in, best of luck

[spuddymadrid] 12/9/2017 23:29

No Problems Papillon. Good Luck to all

[papillon] 12/9/2017 22:23

Many thanks for your thoughts on PVR/LOGP, spuddymadrid. I have held both shares in the past (mainly LOGP) and still follow them closely even though I'm not invested. Did consider having a small punt on PVR pre Druid/Dromberg, but decided it was too risky since exploration wells are generally considered to only have around 10% CoS.

Lets hope we get lucky with AMYT. I took the liberty of posting your earlier post on here, that mentions AMYT, onto the advfn AMYT bb. Hope you don't mind.

[spuddymadrid] 12/9/2017 22:04

Hello there Papillon. Hope All well. Amryt is a really Good Prospect. Very Well run. Great strategic plan and Directors and top Management Experts in what they do and with skin the game. Think the seat of the Bum stuff at Providence is about to end. Druid/Drombeg was high risk Cairn had a 13% COSOn it I believe. Pat Plunkett was the force behind the second Farm out and the risk limitation. Think now the silly season is ending. See a merger with LOGP and a Farm out thereafter as a likely outcome. The Tullow boys Are no fools. They understand risk and project finance and Will take smart decisions from here on I believe. Super Major interest in the North Celtic basin was chatted about over sándwiches at the AGM. Barryroe is considerable bigger Than originally thought. To be fair to TOR think he did Well to raise funding after a Run of bad Luck and bad management decisions. Expect merger with LOGP, Farm Out and or else sale of Provience to one of Majors in the comming Months

[papillon] 12/9/2017 20:50

Hi, spuddymadrid. I only hold one share: Amryt (AMYT). Like you I had shares in FAST (bought when it was effectively a cash shell) and have continued to hold after the RTO because I like AMYT's prospects and BoD. One thing I particularly like is that within 8 months of floating AMYT made sure they had a revenue stream by licencing in a North American "orphan" drug whilst they progressed their own orphan drug through phase 3 and are promising more licencing deals. That's what surprises me about PVR; the company seems to have had no interest in developing a revenue stream whilst it was continuing to explore.

[spuddymadrid] 12/9/2017 20:25

See You at next AGM hopefully with some Good news for All. Believe minds at Providence now focussed. Super Majors Are Looking at North Celtic sea apparently so Farm out should be possible

[funtimejonny] 12/9/2017 20:08

I'll digest all that Spud and good to hear from u again. Shame we didn't meet up in Dublin when I was over for the pvr agm a wee while back. Could be an interesting next few weeks and let's see what occurs. Undestsnd your comment re amryt and it's on the watch list. Keep well.

[spuddymadrid] 12/9/2017 19:52

Hello there Funtimejonny. In the same boat myself. Think Providence Will turn around. Providence should take over LOGP (1/7) share swap for example and then Farm out say 40% for apraisal and lets say 40m cash. Retainung 60% they could go thenselves for project finance funding. Sure Mcgoss and Pat Plunket Know All about This i.e lock revenues selling futures forward. Then We would Have cash for appraisal on share price and drill on Avalon (cost to zProvidence should be limited to 5m If Cairn take 20% option - I AM sure they Will). This aside Am Very very happy with Amryt pharma - old Fastnet. Fell into them following reverse take over of Fastnet. Have just got Off webcast to Usa investors. Really Believe This company Will save My Dad and My bacon. I AM not one with a hidden agenda. Just trying to Like yourself make some additional money for the pensión pot. Anyway Good luck. Amryt is in Phase 3 for a really Good product. Results H1/h2 next Year. Already earning cash with other licences. Safe bet. Still hoping for Providence recovery !!

[funtimejonny] 12/9/2017 17:10

Blustery. ..I was only having a laugh and I'm glad you didn't take it badly. You have not just landed on millionaires row at all. Most of us are just ordinary geezers with 9 to 5 jobs trying to make a bit on the side to boost up the auld pension pot. I always fight shy about giving people advice as I feel that there are too many here who have hidden agendas and I don't want to land in that camp. Best afvice is never invest more than you can afford to lose in any one share and always spread your risk across different sectors.

[hermana3] 12/9/2017 16:01

Road,Wishful thinking!
Zh, Big Brian is a busted lush and would empty the corporate larder in his lunchtime....

[blustry123] 12/9/2017 15:38

You have a good sense of humour, and you were correct,,, a big sum of money to me is most likely small change to most people here...

[steelwatch] 12/9/2017 15:01

Normal for Company Secretary to sign holdings RNS. Technical updates usually signed by Technical Director and bad news by the condemned man.

[roadster750] 12/9/2017 14:36

for the first time i can see the rns was not signed off by ToR, has he fallen on his sword.

[funtimejonny] 12/9/2017 14:04

The very one. I'm savin up for a set of remoulds!

[blustry123] 12/9/2017 13:39

IS THAT THE ONE UP ON THE CEMENT BLOCKS DOWN YOUR GARDEN?

[shutittrev] 12/9/2017 13:13

Hi Richie.

[funtimejonny] 12/9/2017 13:08

I'm afraid I left me crystal ball in the back seat of the Bentley!

[blustry123] 12/9/2017 13:01

I HAVE A FAIR FEW SHARES HERE AND A BIG WAD OF SURPLUS CASH, WHATS THE CHANCES WILL THERE BE AN UPSIDE OR WILL IT SLIP SLIDE ALL THE WAY DOWN INTO OBLIVION??

[zhockey] 12/9/2017 12:46

Herm, what about big Brian?

[peaeff] 12/9/2017 12:10

The one thing we don't know, and won't know until management see fit, is at what stage are the Barryroe negotiations right now. If in any way advanced surely that would totally preclude any change at all.

However there is no room any more for promises we need a positive 'game on'.

[richie666] 12/9/2017 12:07

Greying - au contraire x 2. From over 20 years in the markets I have realised the best returns are made from distressed situations where the value disjoint is extreme. This, to us, is precisely the situation here. IF there is a merger/sale or management (ToR) shuffle then unless you are in the stock you cannot reap the rewards.

[funtimejonny] 12/9/2017 11:56

Exactement! He's focused on vanity projects down the years and has failed to capitalise on the assets the company has in Barry etc.A busted flush! I've no sympathy for him as he has extracted more than enough cash out of the company down the years to enjoy a very comfortable retirement in his Mediterranean palazzo. All at our expense.

[hermana3] 12/9/2017 11:40

Jonny, time for a new face and a closer! Hickey is the man and if he isn't available there are bound to be a few takers for a well paid job with a tiny management team.
The day Tone's head is placed on the platter PVR will be near top of the leader's board on ISE and AIM.