Providence Resources Share Discussion Threads

[aimbagger] 23/7/2020 17:38

Whoops! Didn't even notice, being on mobile I just click in the most current thread, didn't realise the loony thread was still being used ?

[thevoid] 23/7/2020 17:38

Talking of the other thread:

'Following this second tranche of the investment by SpotOn Energy it will become a substantial shareholder in Providence Resources owning 26,116,208 Ordinary Shares, representing 3.1% of the enlarged issued share capital of the Company'.

Over the declarable limit, and by definition, sales (or indeed further purchases)would have to be declared.

[hermana3] 23/7/2020 17:29

Aka de poor man's thread where prozac scoffers are in the main lol

[roadster750] 23/7/2020 17:14

AIM, you appear to have strayed onto the "wrong" thread.🤣

[aimbagger] 23/7/2020 16:18

Being ramped non stop ? if you say so, there's only about 5 people commentating on it on Twitter.

[aimbagger] 23/7/2020 16:14

You think "blue chip" companies won't be household names?

[ultrasharp] 23/7/2020 15:56

SpotOn are just as secretive and mysterious as APEC, hoper2. I very much doubt the "consortium" backing them consists of household names: names that the layman would recognise.

[ultrasharp] 23/7/2020 15:50

Who knows, hoper2? They could also hedge the £500k holding via a CFD bet. Who knows what happens behind the scenes.

[hermana3] 23/7/2020 15:23

Cep, Would be extremely nervous dealing with any Chinese outfit ever. Crafty gits supported by a Court system not at all interested in awarding fair play to non Chinese entities.

[cephalosaurus] 23/7/2020 14:44

There are deals with Chinese companies and there are deals with unknown Chinese non-entities. It's chalk and cheese. That's partly why some Irish companies have tried and failed to get a reliable deal. The latter are the ones which PVR have been involved with, and the stockbrokers too. It would be different if it were CNOOC or Sinopec etc. If you don't deal with a well known company you are leaving yourself open to some extremely dubious connections.

[hermana3] 23/7/2020 14:34

Road, There is no substitute for industry experience and it is hard to imagine Alan being led astray by crooked Lars Windholm and those shifty Chinese at APEC. You need a wee bit of nous to be an effective CEO of a small Oilie....

[roadster750] 23/7/2020 14:12

Mary. as you know ToR had all the gear but no idea. Alan and the gang have crude under their nails and gas in their nostrils, we are in a totally different situation now, everyone involved now has skin in the game, vast experience, credibility and a genuine determination to get this done, i have increased my position here considerably since Alan took over and I sleep very easy at night.

[hermana3] 23/7/2020 14:11

AIM, Summer's end would be nice. Wee Griffiths is energising Predator(PRD) these days...

[aimbagger] 23/7/2020 14:07

I agree herm, as long as they've worked out all details and appraisal/development plan already the formal FO should be announced. Not long to wait, think it'll come before October.

[hermana3] 23/7/2020 13:58

AIM, No reason after announcing consortium for Spoton not to commit to farmin toute suite.

[aimbagger] 23/7/2020 13:55

The only reason the "blue chip" consortium members haven't been named yet is because of the ip rights. Once they've got them signed off their names will be released. This could be within days.

[hoper2] 23/7/2020 13:36

Do SpotOn have to hold on to their £500,000 worth of shares for a specified period of time? If they wished could they not be selling at the increased price, which has only improved because of all the farm out speculation. This is PVR so nothing would surprise me.

[hermana3] 23/7/2020 13:20

Mary, The only benefit is "a bird in the hand". Alan knows and trusts these boys and if he is wrong he and the rest of us are totally donald ducked......

[contrarymary] 23/7/2020 13:15

The question is also begged, what benefit do we gain by giving them exclusivity for 6 months? I appreciate that they have invested £500k but 6 months with the possibility of nothing to show at the end of it could be killer to us.

[contrarymary] 23/7/2020 12:51

My view of the AGM. For the most part it was positive positive, however I cannot help but feel a little disappointed with the lack of progress with Spoton, and the lack of information about who we are dealing with. Providence announced on the 6th of April it had agreed a non-binding and non-exclusive heads of terms with SpotOn Energy,as per the RNS on that date. Providence now report that SpotOn Energy has confirmed that binding term sheets are now in place with the six consortium members participating the Barryroe Field appraisal and development project. My understanding of term sheets is that they are in the main non-binding, otherwise they would be a contract, and that minor provisions such as periods of exclusivity and confidentiality could be binding. I am also now confused with the information as it has been released. Do we now have a non-binding and non-exclusive arrangement with SpotOn, and SpotOn have a binding arrangement with the consortium? It all sound very wishy washy and somewhat disingenuous. I suppose it is still progress but slow progress at that. This is the up to date in 3.5 months, and considering same I would not expect much of an update by October 31st, and would not be in any way surprised if negotiations go beyond that date.

[hermana3] 23/7/2020 08:28

1cag, Agree it is a crying shame to see Dunquin and Spanish Point licences relinquished because of serious squandering of cash here over the years. To think we were a whisker away from drilling Spanish Point....

[1cagney] 22/7/2020 19:16

Herm, I totally agree. Which I why I occasionally get cranky with the uber optimism.

[hermana3] 22/7/2020 17:36

1cag, The past is a different country and all we have now is Barryroe and whatever else is saveable here.