Providence Resources Share Discussion Threads

[roadster750] 01/3/2021 08:53

The important paragraph, the consortium et al are still in and committed.
"Discussions to secure this increased commitment are well advanced. SpotOn has confirmed that it believes that funding will be completed within the period granted under the extension."

[amran01] 01/3/2021 08:47

Did they confirm they had the 80% in place?

[patfishing] 01/3/2021 08:32

I agree Mary and we now have 80% offthe funding in place go back 2 months and we had F all.

[amran01] 01/3/2021 08:32

At least it's not a total failure. Still some hope left. Market as usual overreacting to negative news. Politics aside, SpotOn has to deliver by the end of April to keep this deal alive. What I would have liked is confirmation of at least part of the funding in that RNS.

[contrarymary] 01/3/2021 08:29

I am delighted with the RNS this morning. Finally we have a definite timetable for completion of the funding.

[breshnev] 01/3/2021 08:25

Remember that you're talking about politics here.

Token gesture?

[fatnacker] 01/3/2021 08:22

Yep, there economy's based on oil.

[jam2day] 01/3/2021 08:18

Norwegian's have no green issues re oil and gas exploration

[funtimejonny] 01/3/2021 07:48

Green agenda kicking in it looks like.

[fatnacker] 01/3/2021 07:47

It's more likely to be an Eu issue.

[2dinvestor] 01/3/2021 07:42

The key question that needs answering IMO is has anything been said to the Norwegian government by the Irish government? What is their real motivation for backing out?

[fatnacker] 01/3/2021 07:41

On the plus side the implication is that the consortium and bond portions of the funding were going ahead.

[fatnacker] 01/3/2021 07:34

Well there's the real reason for the fall to 5p, appalling that some clearly had prior knowledge and traded accordingly.

[raisethestake1] 01/3/2021 07:33

GIEK the Norwegian credit facility backed out for their 20%. It is to be taken up by the consortium members.

[raisethestake1] 01/3/2021 07:10

RNS this morning ,2 month extension till end of April.At least it is from the horse mouth

[amran01] 28/2/2021 22:33

Let's see if they deliver in Q1 as promised. Shame they couldn't commit to a timeline in the farm-out RNS. They have a month to go. Judging by the business post, I think we will find out in the next week or so.

[contrarymary] 28/2/2021 20:49

I agree. A detailed update from Alan Linn is very much overdue.

[raisethestake1] 28/2/2021 18:28

They have had a full 3 months for the finance. It isn't as if they didn't know that they would have to come up with the readies for a good while longer. We were told that the bond had to be sorted by end of February by SBP multiple sources. At least APEC had timelines. Let's face it early early in the new year is January , immediately when business opens back up after Christmas and the new year.

[amran01] 28/2/2021 14:22

We need an RNS, not more bs articles. I do feel March will be a good Month for us.

[funtimejonny] 28/2/2021 10:11

Nowt in SBP or other Sundays?

[contrarymary] 27/2/2021 20:39

I think being listed on ISEQ reinforces that it is an Irish company and might sit better with some people when they hear that an Irish company is looking to extract oil in Ireland, as opposed to a foreign company coming in stealing our assets etc etc. I think every little positive advantage helps.

[hermana3] 27/2/2021 09:53

Does Providence need ISEQ listing as well as AIM listing? AIM is where the daily volume is and can Providence afford the costs associated with dual listing?

[amran01] 26/2/2021 22:04

Monday is March.. sounds more like very very early.. it will land at some point!