Providence Resources Share Discussion Threads

[seangwhite] 11/8/2018 00:48

The sun tanned one cares little for shareholders and is keen to stay in post for as long as possible. His CV for his next post looks tarnished at best.

[johno99] 10/8/2018 20:22

Looks like Fianna Fail policy has shifted, might be the cork influence. Bill appears dead now. hxxps://www.kildarenow.com/news/outright-ban-exploration-oil-gas-counterproductive-says-kildare-td/241783

[greatfull dead] 10/8/2018 13:32

Herm,

Only some of the Barryroe oil will go to Cork for refine and then distribution to Eire. The majority will be transported via a subsea jumper system that's hooked up to the 1 well already drilled. Then the 2nd and 3rd new appraisal wells when they have been successfully drilled and all the sub sea infrastructure has been constructed, installed, fully tested, and finally commissioned. There will also be a requirement for a small diameter subsea pipeline to be laid to Whitegate refinery in Cork. Plus a leased FPSO to refine the oil and then offload to tankers for sale in UK and coastal refineries in Europe.
That is all going to require FEED and the award of construction contract after a tendering process has been completed by the Barryroe operator. Things don't just happen over night as you well know. Unless your thinking of a one night stand amigo! Only joking re the ONS......

ATB,
GD

[rogerlin] 10/8/2018 08:42

Indeed much to gain you would think.

[hermana3] 10/8/2018 08:31

Rog, Cork has always supported Barryroe as they want oil to flow there first!

[hermana3] 09/8/2018 19:55

Jonny, Market wants farmouts not puff pieces from TOR!

[funtimejonny] 09/8/2018 17:33

It is perhaps best that he says as little as possible.

[itsriskythat] 09/8/2018 16:02

Paeff, agree with your comments.I have no idea what audience TOR thinks he is talking to here .. an online community, small, and likely few have even heard of the site .. surely there are better vehicles to talk to private investors?Why does TOR not follow the lead of several other CEO's and go for a live Q&A session? In that respect Mike Buck's recent invitation to meet him in London and simultaneously to take an online Q&A about the current Petro Matad drilling program has now set the bar for other CEO's to follow.TOR seems so often to hide himself beneath the umbrella of confidentiality and avoid hard questions.

[funtimejonny] 09/8/2018 14:55

Emm..Interesting point of view Peaff.

[peaeff] 09/8/2018 14:25

Its

Thanks for posting the interview but, as others have commented, the information therein is no more than we already know.

However, possibly personal to myself, I find these interviews with TOR extremely galling. Having been here for a number of years there are significant points that spring to mind whenever he starts bleating on about 'shareholder value' because I and, I am sure, many others, have yet to sample any such thing. I can only think that he is talking about the institutional investors who own between them most of the PVR shares.

Do I believe in him as a CEO? Yes to a large degree I do, and to a smaller degree you could say I've had to, or take a significant loss. Barryroe has been the sticking point for me and I believe it will come good despite a long time coming.

Since becoming a shareholder here I have had to suffer the effects of a 100/1 share consolidation which reduced the shares in issue to around 42million. They then sold the only producing asset we had, to go speculating, and failed. Then followed an issue of further equity pushing the shares in issue to around 64million.

Capital was already dwindling to danger levels when we were hit with the costs of failure in a court case with Transocean with unpaid debts from Barryroe. That left us at a critical stage, the possibility of folding and the suspension of shares for a while. Then came a further huge issue of equity taking the shares in issue to current levels and, the share price to lows of 6p.

WHERE ON EARTH IS THE SHAREHOLDER VALUE THERE.

However it seems that with any luck the situation has been somewhat redeemed, not the share price, for the time being and hopefully things will improve from now if only slowly, but please don't place it under the umbrella of "SHAREHOLDER VALUE" until that point is proven. For some though it never will be.

rant over, regards

[funtimejonny] 09/8/2018 11:38

How're ye doin GD? Good to hear from you again and nice to hear somebody else has an interest in PRD. I'm thinking of bunging in a few bob to take a small holding there meself. Have a few UOG as well. And of course a pile of LOGP / PVR...my second biggest holding is one called SXX which is worth looking at in depth. I might flog off a third of my holding there at a profit and spread it around a bit. Keep Well. FTJ

[greatfull dead] 09/8/2018 09:09

Good morning Ftj,

I hope your well. I am good. In reply to your question. Market cap was 2.80p, now is 3.03p , Shares in issue 100.142.80m. IMHO Trinidad looks like a gem. From the interview with with CEO Paul Griffiths link
hxxps://www.directorstalk.net/interview-predator-oil-gas-holdings-positive-results-but-corrib-south-could-dwarf-everything/

Plus Predator also owns and operates exploration and appraisal assets in current licensing options offshore Ireland adjoining Shell’s Corrib gas field in the Slyne Basin on the Atlantic Margin which with the current gas price rises around the world. This could in a few years bring PDR with a share in agreement to processes and transport the Gas from the Corrib gas producing field near to a Mid Cap company that is currently a very Small Cap oil and gas EP AIM quoted company with excellent Financial fundamentals IMHO. Definitely worth a punt!

I now have them on my watch list. I have shares in CERP that currently is doing very well with water injection to existing oil wells in Trinidad.

ATB,
GD

Edited. Market Cap changed.

[funtimejonny] 09/8/2018 08:40

That's what I was thinkin meself Herm. And the location next door to existing infrastructure looks good from the economics point of view. COS given as 30%. I wonder how this compares to other fields,especially Corrib itself?

[hermana3] 09/8/2018 08:31

Jonny, Wee Griffiths has had a long career chasing oil and gas. A favourable comment from JOS is worth listening as he is not always plus on other company's prospects....

[funtimejonny] 09/8/2018 07:46

Thanks for posting that Its. Another interesting snippet came to my attention via linked in. An outfit called Predator (PRD) is looking to drill South Corrib and tie back to the main Corrib platform. They also have another Gas asset east of Kinsale and Barryroe. Paul Griffiths owns 44% of the company equity. Jos Sullivan commented favourably on the Corrib proposal (also on linked in). Was thinking it might be worth a wee flutter. Opinions anyone?

[itsriskythat] 09/8/2018 07:43

Not fooled by the so-called "talk" to TOR, it reads more like the emailed reply to a series of questions.

Adds little "news", except that the Barryroe timeline hasn't changed, and that there's no industry gossip to suggest Nexen have made their decision about Iolar.

[itsriskythat] 08/8/2018 21:42

Of interest

[hermana3] 08/8/2018 19:47

Riley, Await your report pronto!

[riley9] 08/8/2018 10:12

Ftj - will do, sat on plane now !

[hermana3] 08/8/2018 08:31

And to think some doubted it!!!!!

[greatfull dead] 08/8/2018 07:30

Cheers Amigo.

[hermana3] 08/8/2018 07:07

GD, Great to have you back! FOG will be drilling in Oz come Springtime......

[greatfull dead] 08/8/2018 06:21

Good morning Herm,

Just got out of my pit. No I have not FOG got the shale ban lifted. Where at wat is the licence fields location? The UK?

Look out for and email from me later ib the day.I have a very busy day with some serious appointments to go to. I also need my gery haircutting. Well whats left of it!

Good morning Steel,

Sorry for not replying to your last email message. I will reply later today.


Good morning Westie.

Just about complete the process of replying to your email, I stared yesterday but had a few important meetings to attend. Same same for today. As can you see I have a very busy schedule that will slow down tomorrow at last. I am not Brown Bread yet.

ATB to you 3 Musketeers and all PVR holders,

GD

[hermana3] 07/8/2018 19:38

GD,Did you notice FOG got shale ban lifted?