Providence Resources Share Discussion Threads

[rogerlin] 20/9/2017 08:22

The Frende is returning, they sure are taking their time to P&A this well.

[neo26] 19/9/2017 22:13

one/two well at barryroe next year..

[funtimejonny] 19/9/2017 07:29

That's true.

[langster] 18/9/2017 17:53

Well the RNS was clear that Stena was to be demobbed and Barry was next focus.

Any change would have been RNS'd.

[jusmasel99] 18/9/2017 17:21

Langster - you are feeding my suspicions with regard lightning striking twice ;-)

[greatfull dead] 18/9/2017 16:52

Ftj,

It is possible but from an enginerring point of view difficult and beyond subsea pipeline technology. Good off the wall thought I will give you that. Pig the line from onshore with a winch line attached, 80 odd miles long!!!! NoT sure actual of thedistance from Whitegate to platform, then pull the new pipeline with winch line. Can't visualise the opertion.

ATB,
GD

[langster] 18/9/2017 16:50

Weren't we supposed to be receiving more funds from Total within 3 days of P & A decision?

Surprised receipt of funds haven't been announced yet.

[funtimejonny] 18/9/2017 14:15

Not sure what the diameter of the existing pipeline is...wonder if they could pig it and then install smaller diameter line inside existing? Possible helpful from insulation point of view? Anyway, we're not there yet. Gotta do this drill first.

[greatfull dead] 18/9/2017 14:05

Billy,

I understand about the plarform condition. If the jacket is in good condition there would be no problem strenghtening the existiog platrorm and mofifying a small section to thak the heat exchanger and pump. A new saw 6 inch pipeline cound easily be laid to WHITEGATE, that I am sure of with new pig launcher on existig platform.

ATB,
GD

[billy_buffin] 18/9/2017 10:27

Morning GD


Yes saw that GD. Existing platform and pipeline theoretically possible but depends on condition of structure after all those years? Pipeline condition?

[billy_buffin] 18/9/2017 10:23

O/T
Samuel Johnson's dictionary:

'Stockjobber: a low wretch who gets money by buying and selling shares'

Google celebrates 308th anniversary of his dictionary.

[greatfull dead] 18/9/2017 08:53

Billy,

Did you read my post #52899 in respounce to you post #52877? Comments appreciated.

ATB,
GD

[rogerlin] 18/9/2017 08:26

Well the Flora has gone but Sjoborg still near the rig and Frende approaching Cork, still a working outfit!

[jusmasel99] 18/9/2017 07:35

Shurely not /.........

Last Monday I was hit by really bad news from both PVR and JOG. PVR sunk and my JOG shares were decimated but I held on ....

Friday was it? I posted on this board that the StenaIcemax was still on station in a humourous sort of way suggesting maybe ......?

Well knock me down with a feather ... JOG report this morning that after the no show last Monday Statoil have decided that there may actually be Hydrocarbons after all up dip so are drilling a sidetrack into that ... WELL WELL - yes two wells ...

Shurelyshome mishteak ... lightning can't strike twice ...

[funtimejonny] 18/9/2017 07:31

Rns issued today by Europa comments on the Drombeg outcome with read across to their licences..

[hermana3] 16/9/2017 08:18

Suntanned one(certainly no "sun god") will be entering stage left next Thursday and once again them sharks can smell "blood in the water"...

[seangwhite] 16/9/2017 01:30

This finished up today!did the suntanned one finally slip off the scene at last?

[funtimejonny] 15/9/2017 16:35

Tis a cracker this one...a wee cracker!

[hermana3] 15/9/2017 16:23

Jus,Wish Monday was only a dream but reality bites here every time an exploration drill is undertaken....

[jusmasel99] 15/9/2017 16:21

Monday was just a dream .....

Stena Icemax still on station and in full dynamic positioning mode. Edda Frende alongside and all other support vessels including Nomad in attendance.

To be honest the only reason I looked was to see where it was going to next and I KNOW they have to plug it and clean it all up ..

but maybe ................

[hermana3] 15/9/2017 16:02

Pap, Valued at cash here! Got to be some value in Barryroe,Spanish Point,Avalon,Dunquin South and The Marginal Celtic Sea fields.

[papillon] 15/9/2017 15:55

Looks like you've made the correct decision in buying CERPS, offerman, but keep an eye on the chart. It's what others think, not what we think that counts. Actually if you look at the long term chart PVR was a sell back in early 2013 when the 50 day SMA dropped below a falling 200 day SMA, a so called "death cross". The share price then was around £5. Going by the chart PVR wasn't a buy again (unless you were a short term trader) until the start of 2017 when we had a so called "golden cross" (50 day SMA rising above a rising 200 day SMA). Of course that buy signal changed with the Druid duster, but charts can't predict whether a well will be a success, or a duster. That's the beauty of derisking by selling at least half of your shares after the well has been spudded, as many do.

I don't know where the PVR share price is going in the short term, but it looks worth having a punt on it at the current price.

PS. I sold all my MTA shares @ around 2.5p when the chart turned bearish back in 2012, just a few months after the big spike up on the euphoria that greeted Barskiy's arrival. Though over the years holding MTA shares had cost me money. You never know you might yet get something back on MTA now they are listed in Sweden. Though you probably need it to double in price to get back up to the circa 1p it was suspended at and then delisted at from AIM back in 2014. Hopefully MTA will prosper.

[hermana3] 15/9/2017 15:47

Article in today's Irish Times on Ireland's mining industry. Mentions the Goldman buying and then the dry wells. Talks of the "99 club" . These are the investors of exploration companies whose share value has dropped by 99 per cent over the past numbe rof years. Our leader contributes his penny load and says Providence is now turning its attention to its most promising remaining prospect,Barryroe.

[offerman] 15/9/2017 15:28

Thank you Pap.papillon - 15 Sep 2017 - 15:08 - 52906 of 52909 I hope so. I got it catastrophically wrong with PVR buying in when I did when I thought £1.30 was cheap and carried on buying all the way down and lost a small fortune. As I did lose with GKP and massive losses with MATRA. I was too trusting of Tweedledum and tweedle dee laurel and hardy. And I don't think I will ever see anything back from Matra with the Barsky. So I have to try and put that behind me and as long as I can make up some money and if by some miracle CERP went high then great . But if I can just make enough to lessen the pain of yesteryears. If it doesn't come good then I'm definitely gone out of shares and the AIM for good, as I'll be broke !! Appreciate your input about the charts looking good I always did value your opinion quite often as you seemed to know exactly what you were on about with charts and called companies right quite a few times. I remember you advising me to bail I think it was around 70p on PVR and I didn't as you could've saved me a lot of money had I listened.Such is life, many mistakes are made and the hope is to always try and learn from them much as possible along the way and hopefully things come good in the end. Things could yet still come good here at PVR too .