The shorts running for the hills will be enough to get this rolling, plus me of course. Can’t wait. Wonder how the deal is going. Hope it comes off but if not there are still all the reasons for this to be around 110-120p.
Straight, yes. Only new investors will triple or quadruple their money from here in a shortish timeframe frus/b7 other aliases. lol. Should have used a stoploss.
Lol frus, I’ve 10 more similar questions to pose to you but I thought I’d give you the chance to answer just 3 honestly. I won’t bother with the rest. This will fly on suspension lift as the shorters close quickly.
Peally of iii: Providence Resources P.l.c. - Farm-out Agreemen...
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FARM-OUT AGREEMENT SIGNED
STANDARD EXPLORATION LICENCE 1/11
BARRYROE, NORTH CELTIC SEA BASIN
PROVIDENCE & LANSDOWNE AGREE TO FARM-OUT A 50% WORKING INTEREST IN BARRYROE TO A CHINESE CONSORTIUM ("THE CONSORTIUM") LED BY APEC ENERGY ENTERPRISE LIMITED ("APEC")
THE CONSORTIUM TO FUND 100% OF DRILLING COSTS FOR 3 WELLS AND ASSOCIATED SIDE-TRACKS
THE CONSORTIUM TO FINANCE PROVIDENCE & LANSDOWNE'S 50% SHARE OF DRILLING PROGRAMME COSTS BY WAY OF A NON-RECOURSE LOAN WHICH IS SECURED AGAINST FUTURE BARRYROE PRODUCTION CASHFLOW
APEC TO BE GRANTED WARRANTS WITH THE RIGHT TO SUBSCRIBE FOR 59.2 MILLION PROVIDENCE SHARES AT £0.12 PER SHARE POST COMPLETION OF THE DRILLING PROGRAMME
Full release:
https://www.investegate.co.uk/providence-res-/pvr/providence-resources-p-l-c----farm-out-agreemen---/20180328070026H0024/
The fact that the loan is secured against future Barryroe production cashflow means that production must be extremely likely? Roll on SLE's NPI!
Not bad for a Wednesday morning... :-)
P