Providence Resources Share Discussion Threads

[billcn] 22/7/2019 13:31

Hopefully the board are in exploratory talks with another suiter. With the board's experience etc I would be very disappointed if they are not looking at an alternate option.

[r9505571] 22/7/2019 13:00

Hopefully we get a lift like JOG by Friday!

[papillon] 22/7/2019 12:58

Spot on, hoper2. Unfortunately PVR are desperate for the cash (and the farm in to continue) and continue to set meaningless backstop dates and then continually extend them (by definition if the money isn't paid by the backstop date the deal should be dead in the water). PVR are just clutching at straws. A sign of their desperation, IMO.

[raisethestake1] 22/7/2019 12:36

What is sure now is that any upside sentiment that we were to get is now good and truly killed off.I also have no doubt that the payment is half sent with a final nod to be given to the bank when and if the survey permit is to arrive.The Iolar one took 4 weeks was it.APEC counted on about the same timeframe but are probably cautious now to make the transfer.There own due diligence onPVR must have high lighted a few anomalies.We all know what they are,among them the Transocean court case that apparently wasn't market sensitive enough for our ears and brought us to our knees.He is salesman supreme but of the snake oil type.He must have the big boys backing or he would be gone long ago.I wonder is the boy wonder as wonderful as he thinks.This lot won't be happy until they have every share off ever PI,One way to do it is liquify us out of existence pre any production flow.Lets face it he already left us holding 10,% of our original stake when he raised to 70 million.It will be done again soind how long you leave your money in here.
Now where is that survey approval.At this rate we will soon be hearing drilling 2nd quarter 2020.Where did the year go and who is a half a million richer and pension pot a bit fuller.GLA

[cephalosaurus] 22/7/2019 11:17

Payment default clauses are par for the course. What neither party would have expected was the time it will take for the permit to come taking into account precautions both parties agreed to take to avoid judicial review.
No permit - technically PVR responsibility
No payment - APEC responsibility.
Both are technically in breach. In reality, both agree it's common sense there's an issue on paper, but their behaviour implies neither is in breach and mutual interest is being preserved.
Makes no sense paying before the permit. PVR will have to accrue interest (point made on LSE by) and don't need the money until site survey activity begins.
Good luck all. Please don't lose your mind over this.

[hoper2] 22/7/2019 11:11

"The Company has received further documentation showing the mechanics of
the transfer of $US 10 million to Providence's account"

I'm sure that was supposed to reassure shareholders, but it really is a load of tosh.

Has anyone ever found any annual reports on APEC? They are registered at Company House, but didn't register until Oct 2018 so there is no financial information on them.

[raisethestake1] 22/7/2019 09:38

Herm,Libra sounds good.It would suit us as it never really got off the ground either.I think at this place my Chinese snail mail free postage items from eBay will get here quicker than the money

[1cagney] 22/7/2019 07:48

No yuan home for another few days.

[rogerlin] 22/7/2019 07:34

Meanwhile activity at Iolar continues, two supply ships at hand, the standby vessels seem to have swapped over again (Esvagt Don has gone to Cork) and CNOOC seemed to have re-hired the Edda Frende, currently in Aberdeen. There will be news from the drill one day.

[hermana3] 22/7/2019 07:34

Raise, Zuck's Libra?

[1cagney] 22/7/2019 07:31

Junior has another 10 grand in the bank. What's not to like?

[raisethestake1] 22/7/2019 07:30

Surely this is the last week of this carry on.I think they will have to change their bank.Bitcoin next time I think.

[hermana3] 22/7/2019 07:13

Put you off partnering with a Chinese co but of course had no real other choice due to mistakes made in the good times.

[richpassi] 22/7/2019 07:08

Be easy to write next RNS , just delete 26th July and change to 2nd Aug !!!

[hermana3] 22/7/2019 07:06

Much in common with Brexit!!!!

[1cagney] 22/7/2019 07:03

This is a comedy of errors.

[hermana3] 21/7/2019 17:33

Steel,Anything other than receipt of cash RNS early doors and we are officially in "Basil Fawlty Land".....

[steelwatch] 21/7/2019 17:23

Press unhelpful as ever!

[raisethestake1] 21/7/2019 16:06

Guess we will hear tomorrow once again that transfer is on the way subject to whatever regulatory bank controls with some further remittance receipt proof from corresponding Bank.What are way to do business.It is about time we had a bit of a chinwag from one of the hierarchy at APEC along side the bronze one concerning the deal.They after all are to take over operations at production level on our turf.GLA

[hermana3] 20/7/2019 15:59

Westie,Well said and will be perusing the Sundays for a hint of cash finally arriving...

[funtimejonny] 20/7/2019 07:31

Had a quick scan through the Irish online papers. Couldn't find a mention of PVR and their latest sithuation. Anybody clocked anything in the media that I might have missed?

[papillon] 19/7/2019 23:41

I tend to agree with you, hoper2, in that if PVR had received the money they would have issued an RNS immediately. Companies tend to rush out good news, but sit on bad news until the last possible moment. I suppose it's human nature and companies are no different to individuals as they are run by individuals!

It's going to be a worrying weekend for shareholders especially if they have big positions in PVR. I'm rather glad that I'm NOT a shareholder as at least I'll be able to sleep at night.

Did you buy back in Ftj? If you did I hope PVR received the money. Anybody who worked at Ford of Dagenham and drank a pint, or two, in the Chequers before starting his shift is a top bloke in my book and deserves good news!

[westmoreland lad] 19/7/2019 22:59

Herm -- sense has to prevail. Ireland can meet it's energy requirements for many years to come utilising their own oil and gas fields offshore.

GL here folk.