Providence Resources Share Discussion Threads

[1averagejoe] 09/9/2019 22:28

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[1averagejoe] 09/9/2019 22:07

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[steelwatch] 09/9/2019 21:09

herm 'n all - good luck on the morrow. I'll be on the road early doors, so will miss the "fun,"

[hermana3] 09/9/2019 20:51

Raise,Agree that the silence is worrying. If a placing were in the bag we would expect a dip towards 4p. Hope permatanned is not on the sleepers tonite....

[raisethestake1] 09/9/2019 20:41

Not looking good Herm.If there was any good new or a rabbit out of the hat move then we would have seen a rise with LOGP today as it is always a leaky ship.The shareholders don't deserve this circus.I hope we see the back of Junior but unfortunately he has a brass neck and an inability not to waste money as in hundreds of millions of it like it's confetti thrown in the wind.We cannot afford his redundancy payment and we are broke over paying his inflated salary.We are heading for a few pence a share I fear.I hope I'm wrong.Why we cannot just drill one production well is beyond me.

[hermana3] 09/9/2019 20:00

Market not aware of any progress in funding. RNS early doors....

[thetoonarmy2] 09/9/2019 18:34

So no news yet from Ambre Solaire Towers tonight the shiny one must be giving himself a real soaking in the stuff ready for his next jaunt.

[papillon] 09/9/2019 17:10

I think you'll find that that US$15m is an upfront payment to hire the rig before the actual appraisal well drilling program begins, billcn. The total cost of drilling all those wells was estimated at over US$200m.

You can't drill 4 vertical wells offshore and a horizontal side track plus 2 optional horizontal wells for a total cost of US$15m!! That's ludicrous. Look back to the single appraisal well PVR drilled on Barryroe over 7 years ago and how much that cost.

[billcn] 09/9/2019 16:05

Pap,
You may be correct but I can only assume that the article published on 1st Feb this year is based on facts

[papillon] 09/9/2019 12:12

I was under the impression, billcn, that it cost PVR/SLE/LOGP more than US$15m to drill just one vertical well on Barryroe back in 2011/2012. Please correct me if I'm wrong.

[papillon] 09/9/2019 09:22

"China’s APEC farmed into the Barryroe block in September 2018, which will provide for a fully cost-carried firm program comprising of the drilling and testing of four vertical wells and one horizontal side-track, plus the optional drilling of two additional horizontal wells. Under the terms of the agreement, China Oilfield Services Limited (“COSL”) will provide all services and equipment required to conduct the Drilling Programme.
Norwegian rig brokers Bassoe Offshore have estimated that the dayrate for the COSL Innovator could be around $170.000 with a contract duration around of around three months."

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billcn. You can't drill 4 vertical wells and a horizontal side track plus two optional horizontal wells in the ocean for US$15m!!!!!!!!!!

That US$170 per day is just the cost of hiring the bloody rig even if it does nothing!

[papillon] 09/9/2019 09:21

………;….

[hermana3] 09/9/2019 07:21

Jonny, Will be there for sure! Expecting the bottom feeders to be fed,Steel...

[steelwatch] 09/9/2019 07:18

herm - here's hoping Joe N has arranged for our intrepid leader to pull a rabbit from de hat in time to face de música!

[funtimejonny] 09/9/2019 07:13

Herm. Are you heading to the AGM Thursday? I'm going this year.Missed out on the fun last year.

[hermana3] 09/9/2019 07:07

Tis down to the wire for the last time for Providence!!! Going to be a long day waiting....

[billcn] 08/9/2019 23:29

Pap,
15m is to be provided to EXOLA to fund drill by COSL , 90 days @ $170,000


hxxps://mobile.offshoreenergytoday.com/cosl-innovator-semi-sub-to-drill-barryroe-wells-ireland

[papillon] 08/9/2019 22:33

This is what arch fantasist, Manyana, has posted on the lse PVR bb:

"The second tranche of $15m is only due when the drilling starts and is for ancillary work carried out by EXOLA. All the drilling costs etc will be handled by COSL. Note:"

""Under the terms of the FOA, China Oilfield Services Limited ('COSL') will provide all services and equipment required to conduct the Drilling Programme. " And "To effect this Drilling Programme, the Barryroe Partners have confirmed that COSL have nominated their 6th generation 'COSLinnovator' semi-submersible drilling unit"."

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Yes COSL might well be providing "all services and equipment to conduct the Drilling Program", BUT WHERE DOES IT SAY, Manyana, THAT COSL WILL NOT GET PAID for providing "all services and equipment to conduct the Drilling Program"? COSL are NOT a charity and where, Manyana, does it say, in any of the numerous funding updates issued by PVR and LOGP since 5th June, that COSL are APEC's funders? Nowhere!

Unfortunately Manayana is typical of so many of the fantasists posting on the ADVFN & lse bb's in that he makes up false facts to support his argument and agenda.

[hermana3] 08/9/2019 21:27

Yes tanned one and his 2 most recent recruits will be busy this week!!! Thursday AGM will either be a party or a funeral....

[westmoreland lad] 08/9/2019 21:09

The tanned one had better have a very special rabbit to pull out of the hat or
otherwise the last of the three of um switch off the lights on their way out !!

[hermana3] 08/9/2019 20:19

No titbits in Sundays either

[funtimejonny] 08/9/2019 14:57

I am getting less confident about this as well.

[oohrogerpalmer] 08/9/2019 11:57

I think the whole drawn out saga has been planned just to delay whilst a new investor was searched for.
I would be surprised if Apec funds come through after all this time.

[jam2day] 08/9/2019 11:43

No rns on monday will mean plan B rns Tuesday - lets hope that the plan B 1)exists
and 2) has the funding in place

[papillon] 06/9/2019 14:19

The rampers and pumpers and dumpers on the lse asylum bb's are doing their best to push up the PVR & LOGP sp's today.

topsharepicks
Posts: 3,189
Price: 5.85
Strong Buy
200k buy!!!!!
Today 13:12
£12k!!!! thats not beer money someone knows something!!!!!!

topsharepicks
Posts: 3,189
Price: 1.50
Strong Buy
PVR and LOGP
Today 13:05
both gone blue PVR up 8% now could be RNS after close

bigbench
Posts: 11,215
Price: 1.525
Strong Buy
RE: PVR and LOGP
Today 13:11
Yes just spotted that topsharepicks…..PVR ticking up...imagine a last hour RNS saying money finally arrived... a nice 150% would go down well before the weekend!