Providence Resources

GetWithIt

Better than expected result from Barryroe.
http://www.rte.ie/news/2012/0227/providence-business.html

JOHNPT

Its only the beginning - expect a big jump in share price next week when flow rates are confirmed - then another jump in share price in 2 too 4 weeks when news of Spanish Point is released - 12 euro share price end March

Grecco

Well done JOHNPT looks like you called this one right so far.
How are you coming to a figure of €12 by march end ??

Menas

Barryroe find is great news...like some others I got these penny shares years ago and forgot about them so to see a 22% increase yesterday and another 10% so far today is long awaited good news. A bit like finding money on the street!

Will hang on to these shares though as there is still upside as more results come out (as JohnPT has already stated).

JOHNPT

http://www.irishexaminer.com/business/oil-discovery-could-attract-big-business-187000.html

I think I predicted this a month ago - its only the beginning - 10 euro plus share price by end March - watch the big boys (Exxon Chevron) come very quickly -

turbobaby

Good man John, but I wouldn't get too excited until the actual drill results come out!

AP_MAN

10% up today...

JOHNPT

RNS today - 4,000 barrels a day
For all those who followed my advice & bought providence well done - over 100% gain in last month. Time to sell now. I will have another investment tip in a week or so which I think will give a far bigger gain.

AP_MAN

well done John...

martyoo

Well done John.

Soulja boy

JOHNPT wrote: »

RNS today - 4,000 barrels a day
For all those who followed my advice & bought providence well done - over 100% gain in last month. Time to sell now. I will have another investment tip in a week or so which I think will give a far bigger gain.

Fair play man, be sure to let us in on it.

Menas

I will be holding on to these providence shares.

The news today is great, shares up 20% on the day in early trading, worth over 6 times my initial investment.... but the other prospects they have off the irish coast will now come under further scrutiny....and I reckon there is more good news out there. Long term hold for me!

JOHNPT

My advice is to sell now - there is another company I am interested in - all will be revealed soon

turbobaby

Great work John!

davyd07

How do you see this stock panning out over the next couple of months? I expect it to fluctuate over the next few days and then settle around the 6euro mark. I sold off today at 6euro but might look to buy back in if it drops to circa 5.60

Thargor

Interview with the boss coming up on Jeff Randall on Sky News right now.

JOHNPT

I expect the share price to fall over the next few months - it will need to raise more money soon to fund the other drills - when its time to buy back I will post here but it will be many months yet

Sonnenblumen

JOHNPT wrote: »

I expect the share price to fall over the next few months - it will need to raise more money soon to fund the other drills - when its time to buy back I will post here but it will be many months yet

Hi

been following your posts with interest and plenty appreciate any heads up. Sitting back and waiting for next bounce, probably be a while?;)

SP @ € 5.70 is currently at around the yo-yo price for last 4 years but with +100% for last month. However it is still off it previous highs 2007 or earlier.

A Russian roulette game in terms of timing and possible gains.

JOHNPT

As I said before if I owned Providence I would sell them now - they will need to raise close to 100million to fund drilling.
My advice is to but Petroneft Resources - share price is 9pence

JOHNPT

For those who followed my advice and bought Providence Resources two months ago and sold them now you have made over a 100% gain. My advice now is to but Petroneft Resources - 9pence share price.

Steveirl2010

JOHNPT wrote: »

RNS today - 4,000 barrels a day
For all those who followed my advice & bought providence well done - over 100% gain in last month. Time to sell now. I will have another investment tip in a week or so which I think will give a far bigger gain.

did you not say €9 ?

Steveirl2010

JOHNPT wrote: »

For those who followed my advice and bought Providence Resources two months ago and sold them now you have made over a 100% gain. My advice now is to but Petroneft Resources - 9pence share price.

didnt make a 100% profit...got shafted...
bought 1000 euro worth of shares at 6 cents in 2006
Then they decided a few years for what ever reason to create a share price of €2 which meant 100 shares now = €2
I got 140 shares @ €2
So at current share price even though its more than doubled...@ €5.70
still does not get me my 1k back and im annoyed over it...

Sonnenblumen

JOHNPT wrote: »

As I said before if I owned Providence I would sell them now - they will need to raise close to 100million to fund drilling.
My advice is to but Petroneft Resources - share price is 9pence

Curious to know why you think now is a good time to buy? The share price appears to have gone through a dead cat bounce and flatlining now?

Hard to believe it was trading at € 22.00 only 3 years ago!:eek:

GetWithIt

Providence Resources has raised $100m with a placing of 13.1 million shares with a series of institutional investors.

Some of the money will be used to pay down debt and save Providence €6.5m a year in interest payments.

The rest will be used to fund the development of the Barryroe field off the coast of Cork.

http://www.rte.ie/news/2012/0402/providence-raises-100m-in-share-placing.html

100M raised, though quite a bit seems to be going to paying down pre-existing debts.

Steveirl2010

GetWithIt wrote: »

http://www.rte.ie/news/2012/0402/providence-raises-100m-in-share-placing.html

100M raised, though quite a bit seems to be going to paying down pre-existing debts.

Sounds like w should hang onto these Shares
€5.97 today

Steveirl2010

€6.10 this morning :cool:

stevedublin

about €6.40 now, is it worth selling at this stage or will they go up any more short-term?

Comordha

I would consider selling if you have made a decent profit, say 100% +. Take a look at the share price history of two other junior explorers starting with the same letter, Petroneft and Petroceltic. Both made decent sized finds and enjoyed rallies during the hype period. Both then encountered different types of problems, one related to production difficulties and the prices tanked. Any type of delays / production problems are going to knock the share price. Sometimes it is wise to take the chips off the table when everyone else is throwing their own on.

riddles

anyone got any ideas what this share could reach if it manages to produce 4000 barrels a day bought in for 5K in 2007 @7 cents a share had 56000 shares got dilluted down to 550 - can it reach north of €10

I think they are rogues is it worth to get out now and get some of the loses back or is this company moving in the right direction finally.

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.