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Just read the Phoenix article, and goes over the history of Providence, which is hard reading and worse the the share holders that have lived through it to put it mildly. I had forgotten that when they had the last fund raiser they issued ten million shares to Melody and 38 million shares to the broker, Cenkos Securities. I wonder have have being selling their shares? Anyway to end on a better note, according to the Phoenix, Providence is now valued at 110 million euros at a share price of 19 cent. Assuming costs of about $30 a barrel, this would leave the Druid licence ( where Providence has 56%), with a possible net value of $10 billion - nearly 100 times the value of the company today. We have being following the dream for years now, so I hope for all our sakes that this drill works out.
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