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Share Name Share Symbol Market Type Share ISIN Share Description
Providence Resources Plc LSE:PVR London Ordinary Share IE00B66B5T26 ORD EUR0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 5.15 5.10 5.20 5.15 5.15 5.15 100,618 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -18.1 -3.0 - 43

Providence Resources Share Discussion Threads

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DateSubjectAuthorDiscuss
13/2/2020
11:57
Presently, Providence has sufficient working capital to last until late March or early April, and, new funding options are now being explored. AHHHHH more needed.
onehanded
13/2/2020
10:59
Providence Resources PLC (LON:PVR) has confirmed it is unwinding the Chinese partnership at the Barryroe field and it is undertaking a new farm-out process. The main focus is to advance the appraisal of the Barryroe field, to answer key uncertainties about the reservoir and bring the project closer to development. Presently, Providence has sufficient working capital to last until late March or early April, and, new funding options are now being explored. “With the farm-out process continuing the company confirms that additional funds will be required to provide sufficient working capital to support the business in the near term and the board is currently considering its funding options,” Providence said in a stock market statement. Barryroe appraisal plans The prior Chinese farm-out and development plan was centred on the project’s oil potential, but, according to Thursday’s statement, Barryroe also has a meaningful gas element – which may have strategic implications for the company, Ireland and the government. Providence today noted that in the past Barryroe has been independently verified as containing large volumes of both gas and oil. The appraisal plan now being drawn up by the company, potentially comprising two wells, is intended to confirm Barryroe as either (a) a large oil field with a gas cap or (b) a large gas field surrounded by an oil rim. It is anticipated that the programme would also seek to confirm reservoir continuity and potentially explore a previously untested Jurassic age prospect deeper beneath the Barryroe reservoirs. READ: Providence Resources names Alan Linn as new chief executive Independent estimates indicate a mid-case for recoverable hydrocarbons at 346mln barrels oil equivalent, the company noted. Providence also said it would consider a possible nearby infrastructure redevelopment project, that could potentially deliver a carbon dioxide storage solution - utilising depleted gas fields - which would “minimise the carbon footprint of a Barryroe development”. Beyond Barryroe, Providence’s new management continues to advance a strategic review of the business and its assets. As such all exploration licences are being re-assessed based on cost and relevance to the new business model. At Dunquin South exploration project partner ENI has decided to exit, and it is Providence’s view that the reservoir is less likely to be breached than the Dunquin North structure, which was the subject of an unsuccessful well back in 2013. Providence intends to launch a farm-out process to seek a new partner once ENI’s exit is complete. The company has, however, confirmed that it is in the process to voluntary surrender the Diablo exploration project. Chinese deal being unwound, new farm out underway Providence also confirmed today that its subsidiary Exola DAC has now notified APEC, the Chinese consortium, that it has begun the regulatory process required to transfer the 50% equity in Barryroe back to the original Barryroe partners, Providence and Lansdowne Oil & Gas Plc (LON:LOGP). Providence will retain 80% whilst LOGP will again hold 20%. The new farm-out process is being conducted and Providence noted that, with the inclusion of gas into the development approach, several additional companies not included within the initial process have expressed interest in the project and have been invited into the ‘data room’. Investors will now await any details of funding, farm-outs and/or further appraisal plans for Barryroe.
roadster750
13/2/2020
10:50
Lets emphasise the gas rns. hTTps://www.independent.ie/opinion/comment/mandy-johnston-finally-the-tide-has-turned-on-energy-and-the-potential-offered-to-us-by-offshore-gas-38821211.html
roadster750
13/2/2020
10:23
Srvsrv that not is spam it's on loads of boards
2000tober
13/2/2020
10:17
From the CPR: The total combined audited gross on block 2C recoverable resources at Barryroe therefore amount to 346 MMBOE, comprising 311 MMBO and 207 BCF.
srvsrv
13/2/2020
10:09
1jimmysmith - possible to share the broker note?
srvsrv
13/2/2020
09:20
Doesn't matter who's in charge they are just so predictable. Another 300 million shares at 2p which will raise about £5 million after costs. It will pay the directors wages for another year or so and achieve absolutely nothing for shareholders. If there was any future for this company the directors would have bought millions of shares long ago.
hoper2
13/2/2020
08:29
This completely hinges on our new guy being able to negotiate a farm-in with a real Company, not the mickey mouse outfits that his useless predecessor was entertaining and only capable of attracting. If a deal cannot be closed, and quickly - it looks like finito banito!
ianio5691
13/2/2020
08:22
"The gas component of Barryroe is really quite small if the information we have been fed to date is to be believed, so this RNS just looks like it has been written to appeal to the green lobby."Alternatively, the interpretation has changed to include, as stated in the RNS, a gas field with an oil rim.
greyingsurfer
13/2/2020
08:01
So still a few weeks left in the pot, all redundancies have been paid for, and running costs are a fraction of what they were. Looks like a small placing coming to keep the lights on until someone comes along with a bag of money.. What interested me was the start of the REGULATORY process to return shares back to original owners. Is that implying there is not going to be a legal battle with the associated costs that would involve?
stockriser
13/2/2020
07:50
I didn't see any reference to Spanish Point or for that matter Dunmore / Helvick / Hook Head. Maybe I missed something, but would be interested to know if Cairn are still in the frame or have they thrown in the towel as well? The gas component of Barryroe is really quite small if the information we have been fed to date is to be believed, so this RNS just looks like it has been written to appeal to the green lobby.
funtimejonny
13/2/2020
07:38
And no partner for the Dunquin water project either.
hermana3
13/2/2020
07:33
Is feider Linn.
raisethestake1
13/2/2020
07:29
And no dodgy partners for Barryroe this time lol. Alan is a veteran in this sector and hopefully can smell a dirty old rat unlike his naïve predecessor.....
hermana3
13/2/2020
07:23
Would be great to see the majors helping the juniors with their carbon neutral challenges. Low risk, tremendous potential for both parties.
sirrux
13/2/2020
07:22
Has to happen this year as how can Alan raise new dough without a Barryroe drill?
hermana3
13/2/2020
07:19
Well Barryroe is the main focus and it is getting some interest. Oil proven and major gas potential too and gas storage possibilities. Dunquin has lost another Major but could BP step in? Alan must be trousering much less than his high living predecessor as we have 2 extra months until funding needs a top up....
hermana3
13/2/2020
07:18
I think this will happen this year, time to average down or get some LOGP imho
czar
13/2/2020
07:15
Thus has promised much, and delivered nothing, forever.
jack jebb
13/2/2020
07:13
That's one way of reading it, but....
steelwatch
13/2/2020
07:09
Sounds like its lights out here chaps....
molatovkid
12/2/2020
19:35
Jonny, Not a peep from new CEO since taking office so we have no idea what he is doing or why he took this job. No news is not good news here by a long shot.
hermana3
12/2/2020
10:02
Looks like the company has a new policy of "keeping under the radar"...presumably to keep the likes of An Taisce and other green activists off their back while they attempt to salvage something out of whats left of their portfolio of assets. Trouble is that in the absence of any positive news the PI'S are getting cold feet and all we are seeing is the steady drip drip drip of people selling out...both here and in Lansdowne. Hope this new guy can pull the proverbial rabbit out of the hat and get some decent funding in place to advance Barryroe sooner rather than later. The political backdrop is not great and the Chinese virus epidemic is not helping either as far as oil price and demand goes. Bit of a f##k up all round really.
funtimejonny
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