Member Info for Phoebus

The Capital Group have also been selling and had 23,735,000 left. Adding three of today's trades we get 21,235,000 + 1,500,000 + 1,000,000 = 23,735,00 so it looks like they have sold out completely. Itsriskythat on ADVFN suggest the trades were crossed at 12p which accounts for the extra volume.

https://investegate.co.uk/providence-res---pvr-/gnw/providence-resources-p-l-c-----147-the-company--148---notification-of-interest-in-share-capital/20190308125512H1687/

might be gone. All time high daily volume there after more than 40M shares flushed at 12p and SP is already starting to recover. Likelihood of further pullback in LOGP is diminishing IMO. Once PVR breaks 15p things here should get very interesting.

a holdings RNS to light the touch paper. Should see 15p in a flash.

Added here too.

All time high daily volume for PVR.

SP not dipped. Surely that must be the seller cleared? That's £5M quid.

Cloud Cuckoo Land if he thinks there will be a hard Brexit. Not allowed.

https://oilnow.gy/exploration/exxonmobil-gunning-for-more-oil-at-yellowtail-as-guyana-foray-continues/

Article is from 6 weeks ago, but I hadn't picked up on it.

'The analysts are confident that the oil major will make more discoveries from approximately 17 targets remaining to be explored on the 6.6 million acres Stabroek Block.'

'With 17 prospects still to drill, Stabroek is writing Guyana’s future. It will easily become the fourth largest oil producing nation in Latin America by the next decade, with chances to outperform the countries preceding it. If Venezuela and Mexico fail to address production declines, Guyana could quickly surpass them to number two,' said Luiz Hayum, research analyst with Wood Mackenzie’s Latin America upstream oil and gas team.'

Exxon have reported 5 BBOE recoverable from their first 10 discoveries with 2 more have been made since. If their strike rate continues they will be looking at around 26 discoveries on block in total once the remaining prospects are drilled. At the current average field size that equates to 13 BBOE recoverable on block or 9 BBOE if they are half the size. 9 BBOE is as much as the whole of Angola and 13 BBOE is more than Algeria.

No chance. Need to drop the ask or they won't shift the stock, especially as its's about a third of the current market cap and as sign off meeting isn't until Arpil 8.

only 5c off C$1.79 high. Looks like we may break 100p today.

https://i.postimg.cc/ZnZvp7fW/PVR-Chart.jpg

SP had sold off and was stuck in the doldrums around 150p for a few weeks. Then like a phoenix, the rise began reaching over 700p 12 months later, a more than 4.5 fold gain. That was driven by a single well. There will be 5 to 7 wells this time round.

Did you notice the timestamps next their comments Rocklawn? I'm sure everyone can get a quote to buy a chunk now as a handful of sells have gone through. Barclays is offering me 1M shares at 2.9M. It was however very hard to buy all the way up from about 2.2p. Even buy quotes for the tiny NMS of 50K shares were unavailable most of the time.

Hi Mamms, those issues are of course PVR specific. If IIs are selling due to a placing then why did GS buy? We know that C&F had to sell. Perhaps it was the push another II required to lighten up a bit. IIs don't always make the best decisions and perhaps they needed some money elsewhere. If there is a funding for one of the other drills then it will obviously dilute the Barryroe upside a bit, but would provide extra drilling pizzazz to fuel the SP. Thanks to two farmouts I think PVR actually made a profit on the Druid Drombeg well, so if that's any indication of what's to come PVR probably won't need to raise to drill those wells. Anyway, doesn't PVR have around 10M in cash excluding the money from APEC which is earmarked for Barryroe only. I think the SP leathargy is just overhang and sentiment related, but you never know. With the site survey approval in perhaps as little as three to four weeks time, that may all improve rather rapidly.

https://www.dccae.gov.ie/en-ie/natural-resources/consultations/Pages/Application-for-consent-for-a-site-survey-at-Barryroe,-North-Celtic-Sea,-South-West-Coast,-Ireland-proposed-by-Exola-DAC-wh.aspx

Fully funded 5-7 well drilling progam starting Q3 with a slug of cash and yet PVR is up less than 20% since the announcement. I say that PVR is the irrational one. Both stocks have a long way to run based on Barryroe fundamentals and LOGP is responsing accordingly. Large selling by institutions is hurting the PVR share price at present providing a cheap entry for us, but this is irrelevant to LOGP where institutions are in fact increasing their holdings. Buying PVR at this point seems an excellent idea, but selling more than a tiny amount of LOGP is risky as it's unlikely you would be able to buy it all back at a lower price. Buy PVR and add LOGP on dips or breakouts as liquidity allows IMO.

SP holding around these levels until TSX open at 13:30 and then another assualt on 100p perhaps.

Thanks Fernan. I'm still to read the report in detail. Perhaps the plan is to deepen the Joe well if the data from Jethro is right.

LOGP already has 34.5 MMBOE 2C, which at $5/BOE equates to 19.5p/share. This year's drill program could unlock significant upside leaving LOGP with 2-3 times that, so the SP can clearly go significantly higher from here.

Waiting is a risk too as it looks very undervalued based on current 2C let alone the upcoming drill campaign.

but still can't get a quote to buy!

Try a limit order Gatto.