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PVR - Providence Resources - The Irish Explorer (PVR)
oilwatch - 18 Dec 2006 23:43
clickable links:
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halifax - 26 Jul 2013 15:42 - 1029 of 1263
SP sinking like a blarney stone into the irish sea!
ontheturn - 28 Aug 2013 10:02 - 1030 of 1263
Could it be the time to dip your toe?
Second day bouncing from 100% drop on share price on the last year
Second day bouncing from 100% drop on share price on the last year
ontheturn - 28 Aug 2013 11:06 - 1031 of 1263
another couple ticks up on the share price
CANTOR
have mentioned the stock as a buy today with a target price of 969p.
CANTOR
have mentioned the stock as a buy today with a target price of 969p.
hermana - 28 Aug 2013 13:10 - 1032 of 1263
You know it is,amigo!
ontheturn - 29 Aug 2013 11:05 - 1033 of 1263
Another good push up to 350p just now
hermana - 29 Aug 2013 12:35 - 1034 of 1263
Yes and on volume not seen for many a month too!
ontheturn - 29 Aug 2013 12:37 - 1035 of 1263
Still rising and now getting momentum as volume is going places, allways bullish on those circuntances.
hermana - 29 Aug 2013 12:53 - 1036 of 1263
£4 by close Friday or out come the pissy tramps pants!
ontheturn - 29 Aug 2013 22:51 - 1037 of 1263
Yesterday's note
Providence Resources "significantly undervalued", says London broker
By Ian Lyall August 28 2013, 10:56am
Cantor points out the current price underplays Providence’s major success – Barryroe, Ireland’s first commercial oil field. Cantor points out the current price underplays Providence’s major success – Barryroe, Ireland’s first commercial oil field.
The full potential of Providence Resource (LON:PVR) is being “significantly undervalued” by the market, according to Cantor Fitzgerald.
Restating its ‘buy’ advice and a rebased price target of 969p a share, the City broker said the recent weakness of the stock is unwarranted.
The retreat from 535p in late July to Wednesday’s price of 337p has been prompted by the anti-climactic results from the highly-anticipated Dunquin exploration well.
However, Cantor points out the current price underplays Providence’s major success – Barryroe, Ireland’s first commercial oil field.
And it completely ignores Providence’s exploration potential.
The group has confirmed that farm-out negotiations for the Dragon and Rathlin are underway, which will reduce its “cost exposure”.
However, the deal investors are eager to hear about is the one that will ultimately bring in a partner to help commercialise Barryroe.
That process to find a ‘big brother’ is being run by Rothschild and will continue until the final quarter of this year, Cantor said.
However the broker reckons Providence will look for up to US$85mln reimbursement for back costs (that’s the equivalent of a quarter of Providence’s current market cap) as well as major investment required develop Barryroe.
Cantor also notes that the US$120mln Spanish Point well, drilled by Exxon, was hardly an unmitigated disaster.
It said “hard data” pointed to the existence of a working hydrocarbon system in the Porcupine Basin area of the Atlantic and oil rather than gas in the upper 20% of the reservoir.
It also estimates Providence’s exposure to Spanish Point is around US$12mln, which while material is hardly a bank breaker.
“The severity of the share price depreciation following the water-wet Dunquin high-risk exploration well was unwarranted in our view given Providence’s limited financial
exposure, and the company’s previous valuation of its portfolio largely underpinned by its 80% interest in the flagship Barryroe field,” concludes analyst Sam Wahab.
A recent research note from the broker Liberum Capital suggest Providence will farm down to 40% of Barryroe in return for receiving a free carry on the field development.
On that basis it valued Barryroe alone at £20 a share.
Providence Resources "significantly undervalued", says London broker
By Ian Lyall August 28 2013, 10:56am
Cantor points out the current price underplays Providence’s major success – Barryroe, Ireland’s first commercial oil field. Cantor points out the current price underplays Providence’s major success – Barryroe, Ireland’s first commercial oil field.
The full potential of Providence Resource (LON:PVR) is being “significantly undervalued” by the market, according to Cantor Fitzgerald.
Restating its ‘buy’ advice and a rebased price target of 969p a share, the City broker said the recent weakness of the stock is unwarranted.
The retreat from 535p in late July to Wednesday’s price of 337p has been prompted by the anti-climactic results from the highly-anticipated Dunquin exploration well.
However, Cantor points out the current price underplays Providence’s major success – Barryroe, Ireland’s first commercial oil field.
And it completely ignores Providence’s exploration potential.
The group has confirmed that farm-out negotiations for the Dragon and Rathlin are underway, which will reduce its “cost exposure”.
However, the deal investors are eager to hear about is the one that will ultimately bring in a partner to help commercialise Barryroe.
That process to find a ‘big brother’ is being run by Rothschild and will continue until the final quarter of this year, Cantor said.
However the broker reckons Providence will look for up to US$85mln reimbursement for back costs (that’s the equivalent of a quarter of Providence’s current market cap) as well as major investment required develop Barryroe.
Cantor also notes that the US$120mln Spanish Point well, drilled by Exxon, was hardly an unmitigated disaster.
It said “hard data” pointed to the existence of a working hydrocarbon system in the Porcupine Basin area of the Atlantic and oil rather than gas in the upper 20% of the reservoir.
It also estimates Providence’s exposure to Spanish Point is around US$12mln, which while material is hardly a bank breaker.
“The severity of the share price depreciation following the water-wet Dunquin high-risk exploration well was unwarranted in our view given Providence’s limited financial
exposure, and the company’s previous valuation of its portfolio largely underpinned by its 80% interest in the flagship Barryroe field,” concludes analyst Sam Wahab.
A recent research note from the broker Liberum Capital suggest Providence will farm down to 40% of Barryroe in return for receiving a free carry on the field development.
On that basis it valued Barryroe alone at £20 a share.
ontheturn - 02 Sep 2013 16:04 - 1038 of 1263
another good move up today with 9.50p getting close to 400p but do not rush it otherwise >>>
>>>> hermana will have to show " pissy tramps pants! "
>>>> hermana will have to show " pissy tramps pants! "
hermana - 02 Sep 2013 16:40 - 1039 of 1263
De old wet ones are lovely!
ontheturn - 25 Sep 2013 09:16 - 1040 of 1263
After a few days of marked down whith hardly any trades, just before the closing yesterday there was 3 large trades in total 180K, some overhang being cleared was the signal.
today is turning up, though MMs are keeping a large spread at one time was 306 / 325p
most likley on a down day that is their way
today is turning up, though MMs are keeping a large spread at one time was 306 / 325p
most likley on a down day that is their way
required field - 07 Jan 2014 12:32 - 1041 of 1263
Rising at long last...buy....undervalued by a mile....
cynic
- 07 Jan 2014 12:57
- 1042 of 1263
sp just broken through 50 dma
hermana - 07 Jan 2014 13:21 - 1043 of 1263
Renewed interest in this yoke as Tone scours the globe for right deal/partner for Barryroe
required field - 10 Jan 2014 16:30 - 1044 of 1263
Sp should be much higher ...., when you think that they have a confirmed 350 million barrels....
required field - 14 Jan 2014 11:11 - 1045 of 1263
Up again...good sp recovery going on here...
robstuff - 14 Jan 2014 20:52 - 1046 of 1263
This was tipped somewhere turn of the year, can't remember where. EOG also starting to shift.
required field - 20 Jan 2014 09:06 - 1047 of 1263
Good update as well and...the sp drops....never know how this one is going to react...
hermana - 20 Jan 2014 10:23 - 1048 of 1263
Very slanted article in Sunday Times yesterday on Barryroe farmout delays. Lack of company repsonce on issue not helping...
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