Providence Resources Share Discussion Threads

[steelwatch] 25/1/2020 19:17

...MV Kommandor multi‐role survey DP Class II vessel, subject to availability

[steelwatch] 25/1/2020 19:06

COSL rig identified early last year still stacked at Ågotnes, west of Bergen, but, first of all, site survey permitting process at very early stage:

[toolpusher2] 25/1/2020 18:47

Hear there looking at a rig

[funtimejonny] 25/1/2020 17:29

"Watch this space" as the prince of darkness used to say!

[funtimejonny] 25/1/2020 11:24

Probably go and mug Pageant again!

[hermana3] 25/1/2020 10:55

Jonny, The old printing machine is never far away here! Nally of Cenkos is very good at getting the usual suspects to fund Providence. Without O'Reilly at his side it should an easier task.

[funtimejonny] 24/1/2020 17:03

I wouldn't bet the farm on it Nick. Because I've already bet the farm and lost a packet on Barryroe!

[nick rubens] 24/1/2020 12:26

"the proceeds of the Placing will only provide working capital in respect of general, administrative and licence operating costs for the period to the beginning of February 2020."

What happens in February if they don't raise any money or is that out of the question? I take it the market does not expect any problem raising a few quid then.
Does anyone think a new farm in will be arranged in the next couple of weeks or so?

[hermana3] 24/1/2020 10:46

Just read new Europa CEO's rather insipid farmout update yesterday and can see why Alan will wait until he has some real news rather than putting out a similar missive....

[hermana3] 24/1/2020 10:13

Abu ,Maybe Bob Hope will come back from the dead too....

[abudhabi123] 23/1/2020 17:20

Maybe they are still hoping the Chinese money will arrive!!!

[hermana3] 23/1/2020 16:21

Jonny, Alan hasn't signed up thinking this a nursing home!!! Now Pat has elbowed out the non performing massively overpaid CEO we will soon hear of a new bold strategy for Providence.

[funtimejonny] 23/1/2020 15:32

Surprised anybody has even bothered to post about this one any more. Nothing much happening and can't really see much happening in the immediate future if ever.

[contrarymary] 23/1/2020 14:51

Given that a lot of restructuring was done, staff let go, TOR got the heave hoe with whatever going away present he got, and we have a new boss with whatever pay package he will be on, I would imagine that the financial plan that they did have is well and truly changed. I doubt very much that there is a weeks worth of money left. Be patient and when they want you to know whats what, they will tell you.

[nick rubens] 23/1/2020 13:26

According to the update on last placing, we have one week left of money. Kind of pushing it a bit not to hear anything yet in this regard.

Hopefully some Institutional investor will put a few million in, having been convinced a new farm in deal is possible in the months ahead and not at too big a discount to current price. If not then what will happen? A placing inviting all current shareholders to participate?

[hermana3] 20/1/2020 19:42

Looks like market is sniffing a fundraising. The usual suspects will be wanting to hear we have progress since last fundraise in September. Can they get it off at 4p then?

[steelwatch] 20/1/2020 11:20

Let's hope the new team can open doors the old could not. My money's on a hedge fund backed limited appraisal farm in. Of course that would make or break the project and seal our fate here one way or t'other.

[contrarymary] 20/1/2020 09:27

A new farm in could be months away. Nobody is going to commit to something like that without researching all of the available data. That is not something done overnight.

[nick rubens] 20/1/2020 09:00

Are we running out of cash then? This, from the recent placing at 5.1p, September 12, 2019

"the proceeds of the Placing will only provide working capital in respect of general, administrative and license operating costs for the period to the beginning of February 2020."

Would love the next bit of news to be a new farm in deal, but perhaps some kind of fund raising is more likely?

[spuddymadrid] 19/1/2020 20:05

Hard to know Hermana. Think it is a longshot. Only see value in Barryroe. Cannot believe we have not been told exactly what went wrong with the Apec deal !!. So fingers crossed something good will happen soon

[hermana3] 19/1/2020 16:37

Spuddy, Wonder what Alan thinks of The Dunquin North Water project?

[spuddymadrid] 19/1/2020 12:06

The madness and stupidity of the Irish Position

hxxps://www.google.es/amp/s/amp.irishexaminer.com/breakingnews/business/norway-awards-69-new-oil-exploration-licences-975444.html