Providence Resources Share Discussion Threads

[swizz] 11/7/2021 23:23

There is a lot of positive strands of news developing,…GL S


“Energy watchdog calls for new gas stations to underpin move to renewables”

“Ireland will need new gas powered electricity stations generating “at least” two gigawatts of power over the next few years to close the gap between energy supply and demand, the energy regulator has said.”

“Speaking at the Oireachtas committee on Environment and Climate Action last week, representatives from the Commission for Regulation of Utilities (CRU) addressed the country’s ongoing electricity supply crisis.”

“Members of the CRU highlighted the “essential underpinning” role...”

[longwait] 11/7/2021 23:07

"THEIR IS A POSITIVITY VIBE FROM PROVIDENT RESOURCES,LETS WAIT FOR JULY 22 FOR GOOD NEWS FOR SHARE HOLDERS ON OUR LONG QUEST TO START DRILLING."

A real dummy post in full caps by a person who doesn't know the difference between "their" and "there", and doesn't even know how to spell the name of the company.I am guessing stephenryan is another dummy variation of that toolpusher guy who talks rubbish here regularly.

[stephenryan] 11/7/2021 22:12

THEIR IS A POSITIVITY VIBE FROM PROVIDENT RESOURCES,LETS WAIT FOR JULY 22 FOR GOOD NEWS FOR SHARE HOLDERS ON OUR LONG QUEST TO START DRILLING.

[hermana3] 11/7/2021 15:05

Piece in Business Post that Davy have lost a few big PLC's on the back of recent Bond trading scandal. Let us hope they put more of their time and vision into Providence and Falcon starting with RNS's early doors......

[hermana3] 09/7/2021 18:44

Job certainly spilled nowt to Currency despite their teasing headline. His former employer,Davy in conjunction with Cenkos did a good job placing the Spoton shares with a holder who has funds galore and a reputation for building successful enterprises. Maybe the Sundays will shed some light on the future funding dilemma.

[raisethestake1] 09/7/2021 11:21

Expecting to get concrete news on drilling plan and funding on July 22nd 11.00am AGM. If this does not materialize we have been fed a load of guff once more. Government lease on sleepys desk so no short term expectations there. Job doing a sterling job as investor relations since he started. He deserves a few share options like the rest in the PVR camp. That will happen too the same day. How many more sleeps 😊

[hermana3] 09/7/2021 07:12

Could Larry have visions of becoming an Oil and Gas Baron in his latter years? He has the means to entertain such notions...

[patfishing] 08/7/2021 20:35

Larry did not wake up one morning and decided to buy some more. No he is having meetings with Larry and co , and know exactly what is going on he is well informed and that's why he bought. This guy is razor sharp.

[hermana3] 08/7/2021 18:46

Currency article indicates this is just another punt for Larry. Not a guy who buys on hope as a rule. He has a hunch finance is sorted and he is rarely wrong. Expect his buying to continue but supply is weak.

[srvsrv] 08/7/2021 17:17

Good sign - pageant have to buy on the open market😀

[swizz] 08/7/2021 17:06

srv, agreed, my reading of the circa £4m of warrants being exercised, that has negated the need for the Pageant offer,..GL S

[srvsrv] 08/7/2021 16:53

Don't think it has been used - the updated shareholder register after 30/6 is the same for pageant

[thevoid] 08/7/2021 16:42

Must be due for an announcement of the outcome of the Pageant Offer to underwrite the capital raise which closed on 30 June.

[roadster750] 08/7/2021 10:44

Currency article Posted by roar on lse
Larry Goodman has upped his stake in Providence Resources. Why has the beef baron revealed his hand?
Larry Goodman is a discreet man. He invests quietly, avoids interviews, and most of his businesses are controlled offshore. Now, his holding company has bought a further 2.5% of Providence Resources, which meant he had to disclose his ownership.
7th Jul, 2021 - 3 min read

Providence Resources has broken its investors’ hearts. Since it was set up in 1998, it has lost £285 million. The worst part is that investors’ expectations have been continually raised and then dashed, as deal after deal to develop Providence’s oil has fallen through.
Why then is Larry Goodman suddenly showing an interest? And why is he doing so in public view? Goodman normally stays out of the limelight. But yesterday Vevan Unlimited Company, a company controlled by Goodman, bought over 2.5 per cent of Providence. The deal pushed Goodman’s holdings in Providence above the three per cent threshold, after which share dealing must be notified to the wider market. Goodman now owns 4.7 per cent of the company.
Goodman bought 26 million shares. They traded at a price of 3.6p, for a total of around £950,000. The 26 million shares make up 2.7 per cent of Providence’s share capital. In total, Vevan now owns 4.7 of the company. That makes him the fifth-biggest shareholder.
As reported by The Currency in April, Goodman has been building his stake in Providence for the last few months. In April, he spent a little over £300,000 to acquire just over one per cent of the company, though his position was not publicly disclosed at the time.
Why is Goodman moving now? Changes at the board level hint that more are coming. Two weeks ago, Pat Plunkett stepped down as Providence’s chairman, to be replaced by James Menton. Menton is the Chair of St Vincent’s Private Hospital, a rival of Goodman’s Blackrock Clinic.
Plunkett said: “Following the recent strategic decision by the board to take the management and financing of the Barryroe project in-house, this is an opportune time to hand over to new leadership.”
Goodman’s net worth has been estimated at €3.25 billion. So his £950,000 investment in Providence won’t make him much richer.
Goodman has timed his investments well recently. In 2018, again via Vevan, he spent €2.3 million buying a 2.1 per cent stake in Independent News and Media (INM), only to sell out last year for €3.1 million when INM was acquired by Mediahuis. He also did well from his €63 million investment in Green REIT, making €4 million when Green REIT was acquired in 2019.
If Goodman is buying Providence Shares, who’s selling? The rumour is that SpotOn, the Norwegian company that had acquired 2-3 per cent of Providence as part of the plan to develop the Barryroe field, is the seller. Given that the deal to develop Barryroe collapsed, SpotOn would have little reason to hold the shares.

[roadster750] 08/7/2021 10:35

So LG buys in at the bottom knowing the finance is going to happen, market doesn't seem to have twigged yet.

[hermana3] 08/7/2021 07:16

Mary, He is here to make few quid for sure and aint a flake like red hot Tommy. There's a wee piece in The Currency magazine on Larry's upped stake but haven't got a sub and too stingy to even contemplate such. My horse wager at fairyhouse last race yesterday is still running...

[srvsrv] 08/7/2021 06:45

Anyone with access to the currency - article about Larry's increased stake

[contrarymary] 07/7/2021 21:10

Sounds positive but I remain cautious. Is he here to help moved things forward or is he looking to make a quick few quid like Tom Anderson did? I guess time will tell.

[hermana3] 07/7/2021 20:00

Even old curmudgeon Mc Dowell is on our side now!

[hermana3] 07/7/2021 18:51

Always good to have Larry onboard. Superb record as PLC investor....

[kent21] 07/7/2021 17:08

News may not be imminent raisethestake1 but the outlook is positive. I would not be shocked if there were additional board appointees at the AGM with expertise possibly in both corporate finance & communications space. It seems that a serious team is being built ,led by shareholders who have skin in the game ,to deliver an energy & profit generating asset.

[raisethestake1] 07/7/2021 15:21

Don't forget our recent mystery shareholders S O Driscoll maybe out of Dimplex. He holds a similar percentage as our Larry. Wasn't this company also registered in Louth as far as I can recall. The plot thickens. Some quite buying over LOGP for a while now. News imminent?

[raisethestake1] 07/7/2021 14:33

Very positive that Larry is on board now.We will have to buy him a Stenson hat like the otherlate Larry Hagman. A tricky customer indeed whom likes a dabble in the market.Roll on that AGM. There is bound to be a few twists and turns yet. If I was to look in my crystal ball I think I see Larry participating in any future fundraise and increasing his stake at our dilutive expense. It's always going to be the order of the day here. We have been hit heavily already in recent years and we can expect more of the same. Good news all the same.

[kent21] 07/7/2021 14:22

Vevan Unlimited Company have confirmed via an RNS that they have purchased 4.66% of Providence resources. Vevan is controlled by billionaire and beef Barron Larry Goodman

[kent21] 07/7/2021 14:20

One of Ireland’s richest people Larry Goodman has taken a 4.6% stake in Providence