[The Pontiac]

This rose again today, when nearly every AIM oiler was down significantly.

Looks strong, but still wouldn't fancy buying in now after rising so much. Although I said this 3 weeks ago.

[Comordha]

"Daniel Stewart today initiated coverage on Providence with a ‘buy’ recommendation and a 1,344p price target, which implies the stock could rise some 137 per cent from the current price of 560.5p."

http://www.proactiveinvestors.com/co...art-27613.html

[The Pontiac]

Cheers Comordha.

PVR up over 3% again today.

I bought some Landsdowne Oil & Gas earlier (LOGP.L) @ 40.5p. LOGP own 20% of Barryroe. The stock hit a high of 75p post Barryroe test results and subsequently retraced back to the low 40's. Funding issues maybe a concern, but looks oversold to me. 40p surely is the bottom here?

How much recoverable oil does Barryroe hold? 100 mmbbls minimum surely? Plus gas.

Plus the other highly prospectus assets LOGP hold - Amergin, Roscarberry (adjacent to Kinsale Head Gas Field), Midleton etc.

Provenience has had a great run since the Barryroe test results, yet LOGP has just kept falling. Strange and unjustifiable.

The Celtic Sea is now starting to attract the attention of oil companies, which puts Landsdowne in an excellent position as they were 'in' early, thus securing some of the best assets/blocks.

[neil.p.b]

Hey Ollie,

Just had a look at LOGP chart out of curiosity and it looks good. Am thinking about taking a trade position myself.

http://content.screencast.com/users/...b6af0/LOGP.png

In established uptrend for almost a year now. Currently resting on lower channel line and historic resistance with a short term double bottom (bullish). You'll see at the start of February there was three days where prices beached the lower channel line but then subsequently closed back above it and continued on within the channel, this is known as exhaustion break and a strong indication that the uptrend has some way to go yet. Stochs and MACD showing bullish divergence. Definitely a hold for holders and a good risk reward/reward trade for anyone thinking of buying with a stop at 39ish.

Just on the point of 'it hit 75p'. That was purely due to a pump by ii's to distribute stock and should not be used for comparative purposes. If you look at the day it hit 75p and the subsequent day (both down days) you'll see high volume selling (professional informed investors selling stock to pi's on the good news hype), the next two days hit similar levels and are up days but on minimal volume (i.e. professionals not buying) - you'll see this a lot with aim stocks and something to watch for with any spike.

GL

[The Pontiac]

Cheers Neil, excellent post.

Not great at this charting stuff myself, but trying to learn. I'm surprised it hit 40p last November on Barryroe spud news, although this was probably pumped up the same way by "professional informed investors selling stock to pi's on the good news hype". (25p to 40p and retrace, high 30's to 75p and retrace).

Have been watching it since the Barryroe results and it appears to have bottomed out at 40p, so hit the buy button @ 40.5p on Friday.

Off now to study that chart and analysis again.

[Mandycat54]

I have some providence shares & have been sent an invite to the EGM which is bing held 27th April. The special resolution up for vote is
"To disapply statutory pre-emption rights in relation to the allotment of the Placing Shares."
Can anyone enlighten me as to what this means? I bought these shares when they were called Atlantic Resources and know absolutely nothing about shares. I would appreciate idiot level answers. Thanks Mandycat54

[The Pontiac]

Well I took Neil's advice and sold LOGP at 39p last week. Could have bought back in yesterday morning @ 36p if I kept my eye on the ball. 39.5p on the ask now, so might buy in again. Didn't like the way it was trading in the 30's so played it safe.

At least we now know 35p is/was the bottom.

[Trigger Happy]

Some more great news from Providence this morning for those of us that are still holding.
Barryroe will yield four times as much as previously expected. Thaty puts it on par with a north sea field.....so expect to see some movement today.

€8.35 at close last night.

[A Primal Nut]

Was having a look there....share price reported and on LSE, ISE, consistent at 670c. But when I go into FXCM (Sharewatch.ie) it lists PVR-L as 14.64. Any ideas? Am I getting the ticker wrong??

[Trigger Happy]

Originally Posted by A Primal Nut

Was having a look there....share price reported and on LSE, ISE, consistent at 670c. But when I go into FXCM (Sharewatch.ie) it lists PVR-L as 14.64. Any ideas? Am I getting the ticker wrong??

http://www.ise.ie/Prices,-Indices-St.../?equity=74651

[AP_MAN]

ticker PVR-L is correct, saw myself on FXCM,
some system error, ring them if you want to trade.

open the graph showing correct prices though..

Originally Posted by A Primal Nut

Was having a look there....share price reported and on LSE, ISE, consistent at 670c. But when I go into FXCM (Sharewatch.ie) it lists PVR-L as 14.64. Any ideas? Am I getting the ticker wrong??

[riddles]

I bought Providence shares in more hope than expectation - when the diluttion happened - hope left town. Hope is back now - anyone with any idea this share can go to? on the ISEQ at least. thanks

http://www.iol.co.za/business/market...-oil-1.1349193

[paul9791]

How are those Providence shares going, is it time to get rid of them,

[riddles]

I checked today and they are declining again - I am having trouble to get any information in relation to the downward spiral -- billions of barrells of oil are not worth a hat of sh1t if you cant extract them.

[Sponge Bob]

Even with the relentless good news on Irish exploration plays since July. Providence have dropped.

1. They need to partner on every single drop they MIGHT extract in future.
2. The big play is the South Porcupine where a number of companies have spotted a stack of 3 or 4 strata in a north south alignment, one will drill next year.
3. If that one hits a highly productive field through all the strata then it is game on for the rest, if not they will go down faster than a lead Zeppelin as the man said.
4. The NPWS has declared a SAC in Dublin Bay only last week which will add another 2 years time to market to the prospect off Dalkey....again assuming there is anything there.

Providence, known as Atlantic Resources for years, have been up down in and out of 'Big Oil Strikes' for 30 years now...their resolute inability to PRODUCE any field of any note has been duly noted in SBHQ.

The only certainty with Providence is that an O Reilly will be paid a most generous salary as an oil company executive ....especially considering his glowing track record in producing oil.