Providence Resources Share Discussion Threads

[steelwatch] 14/5/2021 19:00

O'Riordan & O'Driscoll up from 3.56% to 4.12%

M&G down from 11.71% to 9.94%

Based on Rule 26 info not yet updated.

[hermana3] 14/5/2021 17:56

Oil back up at $68.09. Report out says stinking banks have gone cool on financing fossil fuel projects so it will probably be down to the institutions and large privates such as Goodman, O'Driscoll and Furlong. Wonder if Sir Michael Smurfit could be tapped too as he is not short of a bob and likes this sector.

[hermana3] 14/5/2021 12:05

More accumulation from interesting names.....

[longwait] 14/5/2021 11:40

What has the company achieved so far?what have current management achieved so far?absolutely nothing!they continue to exist on the contributions of lemmings who look like they have no option but to throw good money after bad.this new guy will not have much of a challenge.achieving nothing appears to be the acceptable standard.

[hoper2] 14/5/2021 09:44

hermana - I think the problem is you guys on the other thread are taking too much Prozac - it's playing havoc with your judgement.

[swizz] 14/5/2021 09:18

Ceph, I think that is a really good call and I hope they do look to stay in for the long haul and agreed on LOGP, but I don't see LC or BHC in any hurry to leave the table and it will be interesting to see at what point along the journey they look to exit,...GL S

[cephalosaurus] 14/5/2021 09:08

I suspect PVR will become 'Seaenergy II', but rather than buying licences for bird shredders 10 years too early as SEA did, and with dreadful management plus no money to finance the things, they should look at recycling the profits of oil and gas into clean energy follow on ventures. I am sure they have this in mind, what with the suggestion of carbonO2 sequestration. Nevertheless, it remains to be seem whether they stay for the long haul or get bought out. Given the pivot from being pure explo company to developer (thanks to the sacking of SpotOn), the buyout option may get put on hold in favour of growth, and so it will be interesting to see how this plays out. LOGP will probably get bought out somewhere along the line however.

[hermana3] 14/5/2021 08:52

No Sir Anthony O'Reilly stooges nodding heads onboard now!

[roadster750] 14/5/2021 08:37

Agreed herm, PVR is getting some serious muscle on board.

[hermana3] 14/5/2021 08:30

Road, Larry and The Goodman Group have always leant on KPMG for financial advice. Menton may also assist in helping Providence and IOOA articulate its vision on future Energy Policy in Ireland. There is still a role for fossil fuels in the transition to renewables and Providence can play a key role in this.

[roadster750] 14/5/2021 08:19

herm, both have links in healthcare, real estate and KPMG, but just my suspicious mind doing its usual.

[kent21] 14/5/2021 08:12

KPMG are the ABP auditors but I would not read in to this. I suspect the link is through some of the company’s largest shareholders.
I would not think Larry is finished buying either.

[hermana3] 14/5/2021 08:07

Road, Is he one of Larry's top advisers? Certainly a top drawer appointment for Providence.

[hermana3] 14/5/2021 08:03

Jeez did you depressed lot never hear of Prozac?

[raisethestake1] 14/5/2021 08:03

Welcome aboard,James.Let us see a bit of progression hopefully

[roadster750] 14/5/2021 08:02

Larry Goodman moves in mysterious ways! lol.

[funtimejonny] 14/5/2021 07:54

More snouts around the trough! Hip hip hurray!

[kent21] 14/5/2021 07:47

James Menton is a serious board appointment and a clear indication that this project is making progress. He is very selective in the roles he takes. His experience in dealing with government through St Vincent’s Healthcare will be very useful as will his corporate finance record with KPMG.

[hermana3] 14/5/2021 07:35

Swizz, I agree wholeheartedly with above post. Today's appointment of a very experienced new Senior Non-Exec Director confirms confidence in getting Barryroe drill ready and more importantly getting the financial structure in place. A former Partner of KPMG knows all about raising finance in a timescale. This guy should be available to assist the Board on many fronts.

[raisethestake1] 14/5/2021 07:32

At lease he will have his own buspass,so a nice saving on expenses there😀

[longwait] 14/5/2021 07:21

How much wiĺl this new guy be paid?

[swizz] 14/5/2021 07:12

I am not sure the last 12 months and the removal of Spot-On Energy from the farm-out process, has been a complete waste of time, albeit it is understandable to see the negatively, in terms of share price reaction, but I do believe it is actually a positive development, It had been clear for some time that Spot On did not have the financial robustness to hold up their end of the financing structure, However, parts of the structure do remain very logical and viable and I think this is evidenced by the financial support shown to PVR in recent weeks since the announcement,
 
Plus it has been confirmed that the other members of the consortium (namely the best-in-class contractors like Schlumberger, Maersk, Aker) remain involved and are also keen to progress the funding solution to a positive conclusion during Q3,

PVR will now ensure the Nordic bond is raised with them as operator of Barryroe and the feasibly of this has significantly increased, as they are now dealing directly with the interested parties, plus taking into consideration the recovery in oil price, all interested parties remain aligned, the political atmosphere is improving, as difficult and as frustrating as it is, I do believe we are in a much better place, ….GL S

[raisethestake1] 14/5/2021 06:31

Herm, what I would like to see now is 5 million paid out as a non recourse loan by these companies that are going to give deferred payments. It will keep the timeline that we have been told shouldn't change.It would leave us progress with the K survey and do all the regulatory world that takes 12-18 months. Nobody is going to start drilling in the winter off shore Ireland so we are now looking at Q2 in 2023 at best.How much this must be costing drawing up legal documents is nobody's business.Why should us deserving stakeholders have to wait for the financials for a clear update. They have their wages for the next year covered now the 3p warrants were taken. That is all that is in the coffers at the moment minus the legal bill and wages and cost of keeping the lights on, which probably leaves us with very little.Another 4 month wait here unfortunately. First change to exit the door here and I'm gone.I have had enough of this snails pace for one lifetime.

[hermana3] 13/5/2021 21:44

Raise, Pat and Alan were on the receiving end of a hospital pass from the very tanned hands of O'Reilly Junior. They have been played by Spoton but pulled out before the farce became repetitive as in the APEC fiasco. We have financial results in next few weeks and hope an update proves helpful.

[thevoid] 13/5/2021 20:55

Can't argue with that, raise.