Providence Resources Share Discussion Threads

[zhockey] 29/9/2017 12:42

Remember PVR were free carried up to $42M

[funtimejonny] 29/9/2017 12:40

You are right zhockey. Tis a very pessimistic number which totally beggers belief.

[zhockey] 29/9/2017 11:19

Neo what do mean, 40M overspend? That would have taken some doing but even so PVR would only be on the hook for 10M leaving them with $33M.

How do you get to only 18?

[funtimejonny] 29/9/2017 10:00

Would be very desirable for the company to update the market on the final costs to pvr of the wells. However...they have never been very transparent about things in general which leaves us open to guesswork and speculation.

[neo26] 29/9/2017 09:54

ZhockeyI think it was close to $40m to drill druid/drombeg.

[riley9] 29/9/2017 09:27

Zh - they're allowing for tor's rediculous salary !

[zhockey] 29/9/2017 09:12

OK regarding cash.

They had $43.5M in June and another $5M today. That's 48.5M.

Now what have they spent since June? Let's assume Drombeg over ran by $20M, PVR would pay 25% of that, $5M.

That would leave them close to $43M in the bank today.

Where's all this only $18M nonsense coming from?

[stockriser] 29/9/2017 09:11

"This ensured that the company remains WELL funded for its forward drilling operations offshore Ireland, with Barryroe being planned as our next well in this programme, he added."

I just wish that had read "remains fully funded".

[greatfull dead] 29/9/2017 08:19

I do hope if PVR do not have the money available to drill Barryroe with their own PVR/LOGP monies! We don't want see a placing to drill Barryroe by PVR or LOGP. They just may go for a bank loan or I hope a Leprachourn suddenly appears with the Barryroe farm out deal concluded and farmee siginautore on the contract in his hands and passes it on to the PVR/LOGP BOD'S.

You can only wish at this stage.

Total may also schedule a drill on Avalon after getting deep water drill rigs prices for 2018!

ATB,
GD

[zhockey] 29/9/2017 07:56

Neo nonsense, they had $30M+ in June.

You reckon they spent over 20M on a free carry well?

[zhockey] 29/9/2017 07:56

Neo nonsense, they had $30M+ in June.

You reckon they spent over 20M on a free carry well?

[ccr1958] 29/9/2017 07:53

Precisely FTJ, we can rest easy now !!

[funtimejonny] 29/9/2017 07:38

Ah well...look on the bright side. That's the directors salaries ring fenced for another year.

[ccr1958] 29/9/2017 07:32

Z ,Thanks ...another load of sh*t in my bottom draw :)

[neo26] 29/9/2017 07:18

Still think they have around $18m in bank, not enough to drill barryroe but can still go forward..

[zhockey] 29/9/2017 07:10

Another $5M in the coffers and more importantly Total have not walked away.

[funtimejonny] 28/9/2017 11:43

You could die of boredom with this share..Not the most dynamic outfit in the O&G sector to be sure.

[greatfull dead] 28/9/2017 09:01

Herm,

Your post 53134. No it was not I cancelled my limit order and bought a few at 5.125p. Should have not been greedy and could have bought @4.9p around 9 am yesterday. Still happy I am back in.

ATB,
GD

[resourceful] 28/9/2017 08:37

they have done well to keep the price at 5 plus

[freelunch] 27/9/2017 21:53

Am I going mad or is Herm

[hermana3] 27/9/2017 17:14

That is the timeline for hiring a rig. We will expire from eternal boredom if they dont drill it in 2018...

[zhockey] 27/9/2017 17:10

CCR last RNS I believe said H2 18 to H1 19. We know what that means.