Member Info for tidd83

Big news! https://www.investegate.co.uk/providence-res---pvr-/gnw/providence-resources-p-l-c----standard-explorat---/20180920070021H6933/

“The rig completed at our eighth well recently and should be moving off in the next week. That will free us up to get the service rigs in and ramp everything up, getting us to where we need to be. Hopefully, in mid-September, we will be through that 2,000bopd range, and once we have two weeks of production at that level, we will put out an update with more details. We still hope for our exit rate to be 2,100bopd this year.’” So we should expect an update in the coming days/weeks.

Very much under the radar. Best time to load up, I’ve taken my full quota but added twice also on dips.

http://www.valuethemarkets.com/index.php/2018/09/12/thinking-big-touchstone-explorations-baay-discusses-world-class-potential-offer-trinidads-ortoire-block-txp/?utm_campaign=shareaholic&utm_medium=twitter&utm_source=socialnetwork

Pipe, not sure I agree on most of what you have stated. The profits are being offset on capex to expand the drilling program. Needless to say, the cost of wells and workovers have already been accounted for in the 2018 program from the earlier raise. The addition of 4 new wells totalling 14 (as opposed to the original 10) along with the 24 recompletions suggests to me that cash flow is ahead of original projections. Given the strength of Brent and the wells achieving flow rates ahead of expectations this will likely warrant the expansion to the already funded program. Whilst this is in no means an aggressive approach I applaud PB for using cash generation to enhance and even further the production rates into a rising commodity. There is no risk aversion here, infact, when the oil price slumped TXP reigned in all costs as sat idle - now is the time to reap the reward. Good luck.

Pipe cashflow will currently be around $23m p/a. Not quite sure how the price has gotten ahead of itself?

Disease why not have a read of the most recent update, production rates, increased netbacks, summarise Opec/capex and dovypur own calculations? I think you’ll find given the rise in Brent to around $79/80 TXP are throwing off some serious free cash flow.

The next operational update, I’d imagine well 8 of 14 will be online soon if not already. Interest and focus should also start moving to the larger Ortoire blocks as we approach the expected multi target campaign there.

JTD I don’t see how this game is cut out for you however seeking reassurance from others really is a waste of time. Each assesses the situation differently, it is your money which you chose to invest. If you don’t believe the story is what it once was and you aren’t happy then either contact the company for clarity on your queries or sell up and move on - nobody is here to hold your hand in an in investment case.

Nicotine if you knew anything about the company you’d understand it’s an optional benefit they run and clearly opt in to. I assume PB doesn’t give his kids a few million £s for pocket money and historically from the sole listing on the Canadian exchange it is what he’s injected out of his own pocket.

Not an ideal announcement however it’s speculation to assume the request was down to Sekaname and not the government. Perhaps government are bringing in specific engineers to review the submissions and need an additional few weeks to line these up. Another month added to the wait, hopefully we can get some clarity moving forward.

Book value of Marechale is around £480k and that is being fair and including intangibles at their quoted price (usually I’d add a discount). If you consider the above the fair value would somewhere be around 0.8p. I’d be interested to see how anybody is valuing this differently? I am also curious why some are taking sizeable (and reportable) holdings and then afterwards seeking clarity on what the state of affairs are?

baserite, total investment for coldpress was around £2.3m from marechale and Odexia in June 2017. What % was the split and furthermore the real question is, what % of stock was allocated to Marechale in leuie of fees or, what cash did Marechale invest themselves? My thoughts on this aspect are very little and a nominal payment was made to facilitate the bulk of the deal. Look at the latest set of results, total assets (including cash) are around £586k and that is before trade payables and liabilities are considered. How would the investment exceed it??

“Also can’t quite work out who’s selling out at these levels-750 grand market cap ,until the true worth and potential of the assets are established” Baserite, after trade payable and liabilities are deducted net assets are around £450k. The market is currently valuing the assets at a substantial premium already. Whilst I note the latest update on the site for the current period based on previous historic figures I can’t imagine a major uplift in revenue that will be considered transformational and which would justify anything at or above the circa 70% premium MAC is already trading at. Showing interest based on recent events but I fail to see the attraction.

Good recap of events and a bullish outlook going forward with lots of news in the pipeline. Tlou continue to deliver on their plans, 1 week until submission and a large work program to look forward to, share price has a good way to recover to get close to previous highs. Plenty of cash in the bank and a substantial 944% increase in gas reserves.

https://twitter.com/johnwoo64494325/status/1036494400841502721?s=21

Pressure increasing. Looking good for a big move back up.

Photo, low volume and lull from the summer so just a natural pullback. Only small and nothing goes up in a straight line, many are sitting on profit so likely banking which is healthy. There is a clear appetite for stock at these levels as can be seen. Out with the old and in with the new as they say, next update should be interesting. We currently have the well number eight spudded, that’s is a further five currently on or close to releasing stabilised flow rates which should be enough to tip it over 2000bopd. We then have a further six to add for the year all on an ever increasing oil price. When the price pulls back in such a way it is generally an opportunity not necessarily something sinister or an underlying problem for which you are seeking.

https://twitter.com/infrastrata_plc/status/1035197843093565440?s=21 And from CEO John Wood; https://twitter.com/johnwoo64494325/status/1035413463965806593?s=21

Why is it? Just because someone sells doesn’t mean everyone else has to and the same applies to buying. DYOR and make your own decision.