Providence Resources Share Discussion Threads

[abudhabi123] 28/3/2018 16:20

Steel...He is in the Costas already, been there for some time.

[tsmith2] 28/3/2018 16:17

Meaty 250k buys streaming in

[steelwatch] 28/3/2018 16:00

abu - dropped him a line earlier, but no reply. If he doesn't show this evening, could be headed for de Costas?

[notaskanger] 28/3/2018 16:00

Herm is busy, but well informed Abu

[abudhabi123] 28/3/2018 15:49

Has anybody heard from Herm..surprised he has not been posting today!!!

[jam2day] 28/3/2018 15:30

Buyers coming in at the last hour - profit takers out now ready for an up tick me thinks

[moneytree1] 28/3/2018 15:27

how much more punishment can the old ladies take?

[stockriser] 28/3/2018 15:17

The viagra will take effect soon enough ;-)

[moneytree1] 28/3/2018 15:10

the old ladies are out in force having a good chinwag on their big day

what an flop. LOL

[steelwatch] 28/3/2018 14:42

Depending on outcomes of the appraisal program, it would not surprise me if Apec offers to buy out Exola and then either go it alone or, more likely, bring in another well-heeled partner to share eye-watering development costs. In such event, PVR would be recovering more than just back costs and be released to concentrate on the rest of the exploration portfolio. I believe TOR hinted at such a scenario back in more Halcyon days.

[zhockey] 28/3/2018 13:40

Neo,

Payment of 50% share for back costs and commitment to production.

As it stands, looks like they will have to negotiate the production drill plan after these three appraisal wells.

I expect this to drift lower until the first drill. Could present some decent trading opportunities.

[specul82] 28/3/2018 13:17

Yes I agree with the dates the Chinese don't mess around They will want the drill program as quick as possible and then to plan the sub sea structures very soon after that Don't see with all the activity why this will not be around £5 a share in the next couple of years Exiting times ahead Gla

[neo26] 28/3/2018 13:10

Zhockey

What do you expect great deal to be?

Hur found oil and they didnt like the farm in deals so they did massive placing which diluted them considerably.

At least drilling will happen now and chinese will help with other exciting licenses.

Good chance of drillin in q4 then. Really excited abouy barryroe.. They going to start with 30kbopd field and then eventually 100k bopd.

Its not a bad deal this at all..

[zhockey] 28/3/2018 12:59

Well it's better than nothing for sure but I would not say it is a great deal. Buyers market I guess.

[riley9] 28/3/2018 12:57

abu - absolutely, and thank you to the mm's for giving us all this time to buy more.

[abudhabi123] 28/3/2018 12:29

This is a no risk no cost deal with a massive Chinese consortium who are drilling 3 wells, 3 sidetracks and testing in 2019 - and it is all non recourse - where’s the downside?

[stockriser] 28/3/2018 12:26

More news tomorrow - then let the media loose.

[stockriser] 28/3/2018 12:23

And they will only pay back from proceeds of oil sales - no oil, no need to pay anything back - TOTALLY DE-RISKED

[peaeff] 28/3/2018 12:23

Good news indeed, especially for the long termers, but unlikely IMO to make any real financial boost to the share price in the short term. As and when the full completion takes place, hopefully no later than Q3, there may well be a significant rise. Beyond that the successful drilling, will be all important and the actual arrival of production the icing on the cake. All that, however could be years away and is the main reason why there has been no sudden or substantial jump in the share price

The market has never really been supportive of PVR, probably with good reason if you consider all the previous broken promises and the failures since Barryroe. I can't see that changing before finalisation in Q3.

What would help now is news of another project in the pipeline getting the go ahead, but has enough planning been done on any of the assets for commencement in the near future. PVR has the cash to contemplate such a move now that Barryroe funding is settled.

So am I over the moon, not really, it just means that a whole chunk of my cash will have to remain where it is for who knows how much longer.

Fingers crossed and regards

[neo26] 28/3/2018 12:04

SrvConsidering nothing was going on with barryroe, what did everyone expect? Profit takers going new ones coming in..This is not such a bad deal, so in essence they have a farm in partner to drill 4 wells and they will pay their share of drill with low interest loan.Rather than dilute pvr for significant funding of the 4 wells this was the best thing to do.

[neo26] 28/3/2018 11:59

2c recoverable resource is 311mmbo. So pvr net is 124mmbo. This will increase with further drilling."...in April 2014, the Company revised the original field development plan to a smaller, staged development programme, building up to full field development (with projected ultimate production rates of up to 100,000 BOPD). The phased development programme targets an initial peak production rate of c. 30,000 BOPD, with substantially reduced initial capital expenditure and an accelerated timeline to get to first oil."Very confident about this deal.

[srvsrv] 28/3/2018 11:56

total agree neo26.
Think when the profittakers are out and we look forward the shareprice will start to rise.

[neo26] 28/3/2018 11:47

Current deal should value pvr above 30p.Barryroe has proven resources, 140mmbo net to pvr, value per barrel discounted $2. Value 280m.. Currently bargain.