Providence Resources Forum

I'm fairly new to this forum and I enjoyed the banter especially from Sobeit. In my opinion, the Barryroe deal has already been agreed; however, this will not be announced until Senior has had the remainder of his debt with the banks written off. If you want to estimate a timeline for an announcement then keep an eye on Senior's most recent estate for sale. When the sale is agreed then add one month.

any day now....

very quiet now...

“The Stock Market is designed to transfer money from the Active to the Patient.” patience on a monument...

Oops $24m not €24m, sorry I'll just observe

Am I right in thinking pvr has borrowed €24m mid June this year and has only €18m left at the end of the month? Is that not a rather high burn rate? Am also a bit confused by some of the terminology, at AGM re farm in the phrase 'nearing completion' was used, in the interims the phrase 'advanced stage' was used, I would have thought 'nearing completion' would have been more advanced than 'advanced stage'? Sorry am a complete novice......

From Spreadbet....UPDATE 30 SEP 14 7:15AM - The following statement is all I needed to see from Tony O’Reilly - “Negotiations are now at an advanced stage and we are working hard to satisfactorily conclude this with the objective to return cash to the business and obtain capital funding, whilst also ensuring that Providence retains a material stake in Barryroe, with a clearly defined road map for the timely drilling (2015) and development of the field.” From the conference call - “We expect to conclude the deal in the VERY near future and and are at an ADVANCED stage”. Together with comments about drilling to commence on Spanish Point next year and conservative cash management, this is the next best thing bulls could hope for after the actual farm-in news.

I saw young TOR in the Titanic centre in Belfast yesterday looking fairly relaxed...I had hoped to see a few Exxon suits carrying bagfuls of cash into the building but alas...

i don't have a link for that last assertion however. must be easy to google though.

also i read recently that fracking is quite expensive. to the extent that it would be uneconomical to frack if oil fell too far below $100. so long term i am not really concerned about the oil price.