Providence Resources Share Discussion Threads

[hermana3] 09/10/2019 19:43

Could TOR have found de cash or a new source of same?

[specul82] 09/10/2019 14:58

Top riser today all blue Something is afoot with there being no new licenses then surely this must add serious value to pvr

[seangwhite] 09/10/2019 14:54

I see blue here today is TOR going at last.

[jam2day] 09/10/2019 10:26

Agree news - soon methinks

[srvsrv] 09/10/2019 09:23

just the tax asset should be twice the company value now...

[nick rubens] 09/10/2019 09:17

Some pretty chunky buys yesterday and continuing this morning. Is an alternative Farm In possible. Does anyone know if they had several offers before opting for the so called APEC deal?

[steelwatch] 09/10/2019 09:08

Herm - good luck cobber.

[romeoandjuliet] 09/10/2019 07:38

Or someone might just buy us out

[hermana3] 09/10/2019 07:13

Falcon spud finally underway after drillban lifted. Wish the Irish govt had the backbone of the Northern Territories one

[hermana3] 08/10/2019 22:53

Large holder of LOGP buys £30k's worth. Must believe Barryroe will get financed and drilled in 2020.

[hermana3] 08/10/2019 19:45

Riley, Tone and Pat admitted at AGM that they didn't even know who the APEC partners are. You couldn't make it up....

[riley9] 08/10/2019 13:18

I suspect funds were deposited but the Chinese never authorised the release. As to why - political uncertainty, hoping to bankrupt pvr and take it out on the cheap etc etc, who knows. After all, it would be extremely stupid to lie about having proof of funds deposited when you dont have that proof. Then again, we've never seen the proof....

[papillon] 08/10/2019 13:05

Manayana, on the lse PVR bb, is still going on about SLE valuing their 4.5% NPI in Barryroe at around US$33m. LOL. Manayana needs to look at WPCT and at how Neil Woodford vastly overvalued the unquoted shares in the WPCT portfolio! Unfortunately many companies over value assets. SLE has done that with it's 4.5% NPI in Barryroe.

[nick rubens] 08/10/2019 09:14

Will we ever know what happened to the Chinese funds? Were they ever 'real'?

Did any transfer even get attempted for real? Have PVR been duped? It all sounds so stupid to me.

[riley9] 08/10/2019 08:34

Disagree - if they have a drilling permit that's another variable taken out the equation for a potential partner, especially given the political silliness of late.

[hermana3] 07/10/2019 19:56

"Staking my reputation" is only words. Action and cash is what amounts to something and not much point applying for a drilling permit without the cash to undertake such an exercise.

[seangwhite] 07/10/2019 11:33

It's a sad end to a fine business career for our own dear TOR. He has lead PVR from great highs to undreamt of lows. Anyone want to start a whip round for the poor lad as his needs are many and expensive with his earning ability fairly low end.

[riley9] 07/10/2019 08:34

Oh well, here's to hoping !

[hermana3] 07/10/2019 07:12

Riley, No pigs flying today!

[hermana3] 06/10/2019 21:57

Now such an RNS would have me falling off me potty!!!

[papillon] 06/10/2019 21:48

From today's Sunday Times (Irish edition via web):

"Taxi for Providence chief O’Reilly?
Providence Resources boss Tony O’Reilly Jr hitched his wagon to Chinese finance house Apec to fund the final appraisal wells at the oil exploration company’s Barryroe prospect off the Co Cork coast. Announced with fanfare in March 2018, the so-called farmout deal collapsed officially last week after a summer spent waiting for a $9m cheque to arrive.
It is the second time that O’Reilly has failed to land a partner for Barryroe. The company engaged in a less public yet equally fruitless dance with Sequa Petroleum in 2015. It too failed to come up with the cash. Investors, who recently ponied up $3.75m to keep the lights on at Providence, will hardly afford O’Reilly a third swing of the bat.
It is perhaps a saving grace that there is nobody left to take over the helm: O’Reilly sacked them all. Still, it is surely only a matter of time. O’Reilly flagged the possibility of his exit — though not a likely €600,000 severance deal — at a shareholder meeting last month.
Strangely, O’Reilly never seemed to have a difficulty finding Big Oil partners to drill in the frontier-like Porcupine basin, but Barryroe, a seemingly safer bet, proved intractable.
With oil rig costs falling, the appraisal drill could cost as little as $40m. Given the potential rewards, Providence shareholders might be minded to shoulder the cost themselves rather than restart the farmout rigmarole. Alas, O’Reilly is unlikely to be there to see it."

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bones698 has reasons why Barryroe has failed to find "Big Oil partners"

[riley9] 06/10/2019 20:53

Monday morning rns saying he's walked without payoff would be most welcome.