Providence Resources Share Discussion Threads

[hermana3] 21/1/2019 19:03

Steel, Beetaloo drills will be interesting to say the least.

[steelwatch] 21/1/2019 10:42

herm - good news for you I see:

[hermana3] 21/1/2019 07:47

An Taisce case back in Court again tomorrow. Hope the Judge will make a ruling this time.

[hermana3] 20/1/2019 19:27

Worth more now with Avalon up for drilling and The Geothermal play at Dunquin North is a new promising prospect too.

[steelwatch] 20/1/2019 19:23

Well done its. Didn't need my help after all 😀

Saw the request on my phone earlier, but was in the pub.

[itsriskythat] 20/1/2019 18:45

Just to be clear about the above chart:

As well as the Barryroe asset, Providence has its portfolio of other prospects above (post 57032).

To get the market value of Barryroe in the Providence share price, there is Lansdowne’s independent valuation of Barryroe, which is its only asset.

During August 2018 the share prices of Providence and Lansdowne were quite flat and averaged 10.8p and 1.39p. Lansdowne at 1.39p valued its 10% of Barryroe at $13.2m, including the Lampe loan and excluding a small amount of working capital.

Providence at 10.8p was valued at $72.3m, excluding the working capital.

Subtracting 4 x $13.2m = $52.8m for Providence’s 40% of Barryroe, and ignoring the effect of the San Leon NPI, this values the rest of the Providence portfolio at $19.5m

So assume the Providence portfolio is still worth $19.5m today.

[hermana3] 20/1/2019 18:32

Lansdowne is a one trick pony but Providence has Barryroe, Dunquin, Spanish Point, Newgrange and now Avalon.

[itsriskythat] 20/1/2019 16:18

This chart of mine highlights the somewhat different valuations given to Barryroe in the Lansdowne and Providence share price:

40c per boe before the APEC farmout was closed in September
80c per boe in November before An Taisce initiated a case against DCCAE
55-60c per boe currently, due to now drilling in Q3 caused by the weather window for site surveys.

Might expect the valuation to be back up at 80c before too long.

[blueteam] 20/1/2019 14:29

Looking good for next week, may well move into the 20's. This kind of market looks ahead for valuation.

[funtimejonny] 20/1/2019 14:15

Excellent stuff Steel. Good find and thanks for posting.

[steelwatch] 20/1/2019 11:06

More free publicity:

[roadster750] 19/1/2019 22:32

good news courtesy of the green press

When asked by journalists if this move sent mixed messages about Government priorities, Mr Bruton said that fossil fuels, in particular, gas, will play an important role in fuelling our country as we transition to greater levels of renewables on the grid.

“Its really important that in designing a long-term strategy to decarbonise the economy that we take a route where energy security is also protected,” Mr Bruton said. “We are on a journey where we will still depend on fossil fuels.

[1cagney] 19/1/2019 22:15

Herm, that's all good but without a completely successful Barryroe PVR may be no more.

[hermana3] 19/1/2019 16:30

Committed to drilling an Exploratory well at Avalon now and happy to have Total leading the prospect too.

[raisethestake1] 18/1/2019 11:19

It's first in good news flow in 2019.Hopefully an uphill year if we can shake off the Cardigan

[raisethestake1] 18/1/2019 11:18

It's first in good news flow in 2019.Hopefully an uphill year if we can shake off the Cardigan brigade.

[roadster750] 18/1/2019 11:14

Mention in the I T

[hermana3] 18/1/2019 07:37

Bet our wee Sully has dreams of the massive quantities of black stuff once present in Dunquin North migrating to Avalon.....

[hermana3] 18/1/2019 07:24

Wonder if the proposed talks on this subject have commenced?

[itsriskythat] 18/1/2019 06:47

There are clever PVR bloggers and young PVR bloggers, but this one is for clever young PVR bloggers ...

[papillon] 17/1/2019 18:21

O/T. Concerning GCM there must be a lot of burnt fingers amongst share traders today. The intraday high was 69p following todays news, but selling/profit taking has brought the GCM share price back down to reality. It closed up just 7% at 38.25p!

[funtimejonny] 17/1/2019 16:54

Its still showing as being in auction on my trading platform.

[papillon] 17/1/2019 16:44

Today's over 22% rise means that the LOGP share price has risen over 77% in less than 3 weeks.

[papillon] 17/1/2019 15:23

The LOGP share price continues to rise today, whilst the PVR share price falls. That could mean one of two possibilities to me. 1/ either investors consider LOGP to be a cheaper way to get exposure to Barryroe than PVR, or 2/ there is some kind of corporate action on the way at LOGP.