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EXCLUSIVE: Alastair Smith, Avacta Group CEO gives an Operational Update


Providence Res. Share Price (PVR)



Share Price Information for Providence Res. (PVR)


Share Price: 12.90Bid: 12.75Ask: 13.00Change: 0.00 (0.00%)No Movement on Providence Res.
Spread: 0.25Spread as %: 1.96%Open: 12.00High: 13.10Low: 12.90Yesterday’s Close: 12.90

Providence Resources Plc Ord Eur0.10

Providence Res. is listed in the FTSE AIM All-Share
Providence Res. is part of the Metals sector






Share Price SpacerPrice
12.90
Share Price SpacerBid
12.75
Share Price SpacerAsk
13.00
Share Price SpacerChange
0%0.00
Share Price SpacerVolume
3,048,691
Share Price SpacerOpen
12.00
Share Price SpacerHigh
13.10
Share Price SpacerLow
12.90
Share Price SpacerClose
12.90
Share Price SpacerCurrency
GBX


Currency Issue Country Shares in Issue Market Capitalisation Market Size
GBX IE 597.66m £77.10m 10,000

52 Week High 13.80 52 Week High Date 2-JAN-2018
52 Week Low 4.63 52 Week Low Date 26-SEP-2017

# Trades Vol. Sold Vol. Bought PE Ratio Earnings Dividend Yield
71 826,599 2,222,092 -4.245 -3.04 0.00 0.00


London South East Users info for Providence Res.




Date
Time
Trade Prc
Volume
Buy/Sell
Bid
Ask
Value
 

21-Sep-18
16:37:50
12.90
350,000
Buy* 
12.75
13.00
45.15k
Trade Type:
Ordinary

21-Sep-18
16:35:14
12.90
16,000
Buy* 
12.75
13.00
2,064
UT 
Trade Type:
Uncrossing Trade

21-Sep-18
16:07:51
12.90
18,000
Sell* 
12.90
13.20
2,322
Trade Type:
Ordinary




View more Providence Res. trades >>

Directors Deals for Providence Res. (PVR)
Trade DateActionNotifierPriceCurrencyAmountHolding
11-Jul-16Placing
Trade Notifier Information for Providence Resources
Tony O'Reilly held the position of CEO at Providence Resources at the time of this trade.
 Tony O'Reilly
12GBX257,541500011
11-Jul-16Placing
Trade Notifier Information for Providence Resources
Lex Gamble held the position of Non-Executive Director at Providence Resources at the time of this trade.
 Lex Gamble
12GBX200,000400000
11-Jul-16Placing
Trade Notifier Information for Providence Resources
John O'Sullivan held the position of Executive Director at Providence Resources at the time of this trade.
 John O'Sullivan
12GBX165,000226154
View more Providence Res. directors dealings >>


patrickd369
Posts: 4,085
Opinion:No Opinion
Price:12.90
RE: ALIGN TAKE
Today 14:05
Offshore Ireland......not Offshore Island

Rather amateurish mistake in Aligns title ??
patrickd369
Posts: 4,085
Opinion:No Opinion
Price:12.90
RE: ALIGN TAKE
Today 12:55
I’ll be buying more next week, that’s for sure !!
anovas
Posts: 77
Opinion:Strong Buy
Price:12.90
MIRABAUD ARE POSITIVE
Today 11:57
BARRYROE FARM OUT FORMALISED
Dissemination: 20 September 2018 08:10 BST

Providence Resources (PVR LN) has announced the formalisation of its farm out agreement for the appraisal of its Barryroe field, offshore Ireland. The deal, which was originally announced in March this year, will see a Chinese consortium, headed by APEC Energy Enterprises finance a comprehensive appraisal drilling campaign in 2019. The farm-in offer originally constituted three firm wells, plus any required sidetracks, however the deal has subsequently improved from Providence’s perspective, with the programme now comprising four firm vertical wells, one horizontal sidetrack and two optional horizontal wells. On top of this, APEC will now pay PVR US$9m upfront and a further US$10.5m ahead of the campaign, to cover any early costs associated with the project. Importantly, in spite of this expanded work programme Providence is not required to relinquish substantially more than originally expected, with APEC still farming into a 50% stake, halving Providence’s original 80% interest.

We see today’s news as significant on a number of counts. Although we considered transaction risk low, sign off was required from multiple parties including both the Irish and Chinese governments, and therefore the fact that the agreement is now binding quells any concerns that the transaction would not complete. Secondly, despite industry cost inflation since announcement of the deal, the committed appraisal programme has grown in size – indeed the committed capital investment by APEC has more than doubled on our numbers to c.US$250m (gross) from c.US$100m, assuming that both horizontal well options are exercised. In our opinion, this is a clear demonstration of APEC’s enthusiasm for the project, and its intent to press ahead as quickly as possible. From Providence’s perspective, it now has a fully funded appraisal campaign, worth some US$100m net to PVR’s residual 40% stake, due to commence within the next 9 months. The campaign will determine Barryroe’s commerciality, and could add to the field’s c.350mmbbls of already discovered resource (gross, 2C recoverable).

The company released the news alongside interim results, which bear only limited significance. Cash on the balance sheet at the end of June totalled just over €12m, with zero debt – down from €19.5m at the start of the year. Naturally this does not include the benefit of today’s cash injection, which, after accounting for PVR’s carry on Barryroe, leaves the company in rude financial health.

Authors:
James Midgley, Energy Research Analyst
James.midgley@mirabaud.co.uk
+44 (0)20 3167 7273
Tim Hurst-Brown, Energy Research Analyst
Tim.Hurst.Brown@mirabaud.co.uk
+44 (0)20 3167 7276
chef136
Posts: 387
Opinion:No Opinion
Price:12.90
RE: PVR Barryroe
Fri 22:45
Added potential reserves with drilling of upper Jurassic ....
View more share chat for Providence Res. (PVR) >>







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