Providence Resources

LawBoy2018 · 07-02-2021 2:18pm

Kilboor wrote: »

The first part you highlighted has always been the case and I've already said that's what is holding the project up particularly the environmental report

The second part, I'm not sure. Considering the fact many other countries who have signed that agreement continue to drill, it would be misguided and unfortunate for us to abandon the ability to extract value from what we can in the remaining time until 2050 deadline. This money can be used for jobs, transitioning to green energy, as well as using the gas reserves in Barryroe to secure our energy needs until that time. We are struggling post brexit with energy production.

AFAIK, Providence haven't agreed to foot the bill that would otherwise fall on Irish tax payers for breach of the Paris agreement via the CO2 emissions associated with drilling. For that reason alone, it will fail. It's prima facie incompatible with the Paris agreement.

Kilboor · 07-02-2021 2:28pm

LawBoy2018 wrote: »

AFAIK, Providence haven't agreed to foot the bill that would otherwise fall on Irish tax payers for breach of the Paris agreement via the CO2 emissions associated with drilling. For that reason alone, it will fail. It's prima facie incompatible with the Paris agreement.

Could you elaborate more on this.

So Barryroe going to production would breach the terms of the Paris agreement? The only way to counter this is to pay ?

How are other countries dealing with this?

LawBoy2018 · 07-02-2021 2:42pm

Kilboor wrote: »

Could you elaborate more on this.

So Barryroe going to production would breach the terms of the Paris agreement? The only way to counter this is to pay ?

How are other countries dealing with this?

Countries can offset their carbon emissions via 'carbon mitigation' which might involve investment in wind farms, forestry initiatives, etc. Barryroe going to production would significantly increase the amount CO2 emissions produced in our territory w/o any plans to offset them.

Kilboor · 07-02-2021 2:50pm

LawBoy2018 wrote: »

Countries can offset their carbon emissions via 'carbon mitigation' which might involve investment in wind farms, forestry initiatives, etc. Barryroe going to production would significantly increase the amount CO2 emissions produced in our territory w/o any plans to offset them.

Alan Linn has mentioned carbon capture using the old kinsale infrastructure but that looks a pipe dream at this stage.

I'll need to look into this but as negative as that might seem, the economics of Barryroe are insane at 60 dollars a barrel. It should be possible to mitigate and still be hugely profitable. With funding secured by month end, it will give you an idea whether the consortium think it will be viable. This isn't some small time consortium either, I think aker and Maersk will have done their research.

As an FYI I have stated before I don't have a timeframe to hold this company for, I think it is undervalued from a market point of view but that doesn't mean I'll necessarily hold it until production can theoretically begin.

LawBoy2018 · 07-02-2021 2:57pm

Kilboor wrote: »

Alan Linn has mentioned carbon capture using the old kinsale infrastructure but that looks a pipe dream at this stage.

I'll need to look into this but as negative as that might seem, the economics of Barryroe are insane at 60 dollars a barrel. It should be possible to mitigate and still be hugely profitable. With funding secured by month end, it will give you an idea whether the consortium think it will be viable. This isn't some small time consortium either, I think aker and Maersk will have done their research.

As an FYI I have stated before I don't have a timeframe to hold this company for, I think it is undervalued from a market point of view but that doesn't mean I'll necessarily hold it until production can theoretically begin.

No I 100% understand your POV, you're very clued in! If challenged though, I don't see how it could go ahead while in contravention of the Paris agreement. Ireland paid almost €150 million last year for carbon credits alone. That would only be increased if Barryroe were to go ahead.. Just my humble opinion!

Kilboor · 08-02-2021 2:19pm

Providence Resources P.l.c.

Government consent for Barryroe site survey

Dublin and London – 8 February - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based resource development company (“Providence” or the “Company”), is pleased to announce Government approval to undertake a seabed and shallow geophysical survey and an environmental baseline and habitat assessment survey, at the K-Site location, Barryroe, North Celtic Sea, South West Coast within Standard Exploration Licence 1/11 (“SEL 1/11”) The offshore survey, when completed later this year, will be the third in a series of surveys. The survey must be completed to enable Providence Resources apply for any potential further works on the K site location of the Barryroe field. Further regulatory approvals are required before any commencement of drilling could take place on the Barryroe Field. “

Comment from Alan Linn CEO Providence Resources. “With this approval now in place we can begin the detailed work required to complete the environmental and regulatory approvals for the appraisal and development of the Barryroe oil and gas field, working closely with Irish companies to progress the project. We will also be engaging regularly with the coastal communities on the South coast, keeping them fully involved with project progress.”

Kilboor · 08-02-2021 8:33pm

https://www.irishexaminer.com/business/companies/arid-40222835.html

LawBoy2018 · 08-02-2021 9:30pm

Kilboor wrote: »

Providence Resources P.l.c.

Government consent for Barryroe site survey

Dublin and London – 8 February - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based resource development company (“Providence” or the “Company”), is pleased to announce Government approval to undertake a seabed and shallow geophysical survey and an environmental baseline and habitat assessment survey, at the K-Site location, Barryroe, North Celtic Sea, South West Coast within Standard Exploration Licence 1/11 (“SEL 1/11”) The offshore survey, when completed later this year, will be the third in a series of surveys. The survey must be completed to enable Providence Resources apply for any potential further works on the K site location of the Barryroe field. Further regulatory approvals are required before any commencement of drilling could take place on the Barryroe Field. “

Comment from Alan Linn CEO Providence Resources. “With this approval now in place we can begin the detailed work required to complete the environmental and regulatory approvals for the appraisal and development of the Barryroe oil and gas field, working closely with Irish companies to progress the project. We will also be engaging regularly with the coastal communities on the South coast, keeping them fully involved with project progress.”

Nice! The wheels are moving in the right direction for you my good man.

littlevillage · 25-02-2021 4:50pm

Good dissection of today's mainly positive Phoenix article over on the LSE board.

https://www.lse.co.uk/ShareChat.asp?ShareTicker=PVR&share=Providence-Res

I doubled down on my holding today. Let's hope for some good news next month and a healthy jump in the SP.

Kilboor · 25-02-2021 6:23pm

littlevillage wrote: »

Good dissection of today's mainly positive Phoenix article over on the LSE board.

https://www.lse.co.uk/ShareChat.asp?ShareTicker=PVR&share=Providence-Res

I doubled down on my holding today. Let's hope for some good news next month and a healthy jump in the SP.

What broker are you using? I can't buy more with DeGiro (only sell) so it's hodling for me

Share price tanked over the last few weeks, hopefully bond news soon :P

littlevillage · 26-02-2021 12:39am

Kilboor wrote: »

What broker are you using? I can't buy more with DeGiro (only sell) so it's hodling for me

Share price tanked over the last few weeks, hopefully bond news soon :P

Davy stockbrokers. €14.99 commission per trade.... ouch!! But at least when I sell PVR, it'll all be going in one trade.

Of course if PVR falls below 6c, I'm going to be in a real pickle....buy more to double down again or just wait, hope & pray

Kilboor · 30-03-2021 2:36pm

Absolute slaughter here. Leaky that there's no financing coming? General market anxiety? Tax Season? Who knows. Thesis unchanged. Deadline to end of April to secure the missing export credit funding.

chrisd2019 · 01-04-2021 9:49pm

Kilboor wrote: »

Absolute slaughter here. Leaky that there's no financing coming? General market anxiety? Tax Season? Who knows. Thesis unchanged. Deadline to end of April to secure the missing export credit funding.

This type of activity is nothing new with this share. Things haven't changed much since the departure of the Reilly gang.
Must be a Company culture thing!

LawBoy2018 · 11-04-2021 4:47pm

Kilboor wrote: »

Absolute slaughter here. Leaky that there's no financing coming? General market anxiety? Tax Season? Who knows. Thesis unchanged. Deadline to end of April to secure the missing export credit funding.

What was your entry price, if you don't mind me asking?

Kilboor · 11-04-2021 5:44pm

LawBoy2018 wrote: »

What was your entry price, if you don't mind me asking?

4.61p, but I will assess this week. Don't usually take on 25% losses without selling.

LawBoy2018 · 11-04-2021 5:53pm

Kilboor wrote: »

4.61p, but I will assess this week. Don't usually take on 25% losses without selling.

The market has been rough lately! Hopefully things pick up soon.

Kilboor · 11-04-2021 6:46pm

LawBoy2018 wrote: »

The market has been rough lately! Hopefully things pick up soon.

All rumours right now for Providence. I'm making good money from the US markets all the same.

LawBoy2018 · 11-04-2021 7:09pm

Kilboor wrote: »

All rumours right now for Providence. I'm making good money from the US markets all the same.

I'm down a few K myself! Being killed by the biotech slump.

Cute Hoor · 22-04-2021 8:35am

Providence have ended their farmout deal with SpotOn

https://www.rte.ie/news/business/2021/0422/1211342-providence-resources-farmout-deal-ends/

Kilboor · 22-04-2021 9:02am

Cute Hoor wrote: »

Providence have ended their farmout deal with SpotOn

https://www.rte.ie/news/business/2021/0422/1211342-providence-resources-farmout-deal-ends/

Oil exploration is fun...

unplayable · 22-04-2021 10:39am

Kilboor wrote: »

Oil exploration is fun...

davys have sent out an 'outperform' note this morning.

Kilboor · 28-04-2021 1:15pm

Larry Goodman has loaded up with 10 million shares. Interesting.

LawBoy2018 · 29-04-2021 2:25am

Kilboor wrote: »

Larry Goodman has loaded up with 10 million shares. Interesting.

Were those shares not purchased during the Tony O'Reilly era?

Kilboor · 29-04-2021 9:57am

LawBoy2018 wrote: »

Were those shares not purchased during the Tony O'Reilly era?

Fresh purchase. More than likely playing the bounce but who knows.

https://thecurrency.news/articles/45182/a-company-linked-to-larry-goodman-is-believed-to-have-spent-300000-on-shares-in-providence-resources/

LawBoy2018 · 29-04-2021 11:04am

Kilboor wrote: »

Fresh purchase. More than likely playing the bounce but who knows.

https://thecurrency.news/articles/45182/a-company-linked-to-larry-goodman-is-believed-to-have-spent-300000-on-shares-in-providence-resources/

Wow interesting! Keep us posted. You gonna hold for the time being?

Kilboor · 29-04-2021 11:36am

LawBoy2018 wrote: »

Wow interesting! Keep us posted. You gonna hold for the time being?

Yes I haven't sold any. Was about to sell half my position the day before the farmout agreement ended but decided against.

Maybe I'm a masochist because I can see all my biases but can't let go of this stock because of how enjoyable it is to hold. Not a huge position anyway

LawBoy2018 · 29-04-2021 1:44pm

Kilboor wrote: »

Yes I haven't sold any. Was about to sell half my position the day before the farmout agreement ended but decided against.

Maybe I'm a masochist because I can see all my biases but can't let go of this stock because of how enjoyable it is to hold. Not a huge position anyway

Haha I'm in a similar position myself with TXMD... I own 3,500 shares which are essentially worthless atm but I love having something to complain about every day on Stocktwits!

Hopefully she turns it around one day....

Kilboor · 06-05-2021 12:10pm

https://gript.ie/warning-irelands-obsession-with-renewable-energy-will-lead-us-to-disaster/

LawBoy2018 · 07-05-2021 3:40pm

Kilboor wrote: »

https://gript.ie/warning-irelands-obsession-with-renewable-energy-will-lead-us-to-disaster/

Nobody's listening to this guy's 'calls'. They seem to occur biweekly at this stage lol.

Kilboor · 14-05-2021 2:25pm

New non-executive appointment. They usually come to nothing.

https://www.independent.ie/business/irish/providence-resources-appoints-james-menton-as-non-executive-director-40425756.html

Share price not doing as poor as I thought it would, good response from Linn with the SpotOn failure and they've ramped up the PR machine. O'Riordan & O'Driscoll as well as M&G have upped their stakes through warrants.

Providence Resources

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