The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Providence Resources has received “good industry interest” from potential drilling partners for a prospect off the South West Coast, according to chief executive Tony O’Reilly jr. The prospect, known as Newgrange, is deemed by analysts at Mirabaud to be one of Providence’s two “ nearest term exploration opportunities”-following on from plans to drill three vertical wells at the company’s flagship prospect, Barryror. O Reilly said he agreed with that assessment. Providence was granted an extension to its Newgrange licence during the week and is aiming to acquire fresh seismic data on the prospect this summer. Providence is sitting on cash of around 20m (dollars) and could potentially drill a well on Newgrange itself, because it has a shallow structure, making drilling costs cheaper. O’Reilly’s preferred strategy is to find a farm out partner, however . .... rest of artical describes Landownes recent raise of 1 million.....
Thanks Langster. My shares are tied up withIrish Life pension fund (dwindling by the minute) so I don't think I could call a EGM to oust him. I wonder what support there is out there to call EGM. Maybe reply to this message if you can support this idea..
Everyone is saying that TOR must go as he is taking 400,000 yearly and the share price is crashing..practically speaking what can us private investors do to get him to step down. We can all complain till the cows come home but it's time now for us to step up to the mark and do whatever it takes. Can somone please tell me what we need to do to get this process in motion... thanks
Maybe now with the Tullow oil heavy lifters on board that we may now get a Barryroe Farmout ...having attended the AGM today and having personally quizzed Mr Reilly as to why it was not happening and why we were not being told anything... I'm convinced now it will happen.. we just need to be patient Fm ....
Me too. I naively sent off an e mail today to Providence looking for news on possible Farmout on Barryroe..I know they can't say but at least it keeps the headlamps focused on them to deliver what was promised by Mr O Reilly back in late 2016 for early 2017. It has to happen any day now I believe...PVR has a burner under its share in the last hour or so so maybe news is forthcoming....