Anybody got any interests in PVR. I noticed that investor chronicle has it tipped as a buy. The magazine has given me good tips before. Worth a punt ?

I tipped these shares to my friends and collegues at work after doing some research, reading threads on BBs etc.

Providence Resources announce 2005 results
17/05/2006 - 07:52:54

Providence Resources plc have announced profits 127,000 for 2005.

Turnover increased by 30% to finish at 1,376,000 for the oil company.

The company has delivered on its stated strategy of achieving a balanced and diverse portfolio of assets, whilst also increasing its daily oil production, said chief executive Tony OReilly jnr.

Mr OReilly was upbeat regarding the firms programme of activity for 2006.

This includes the farmout of Spanish Point, seismic activity over Dunquin, further potential appraisal wells at AJE in Nigeria and possibly in the East Irish Sea, as well as a multi-well drilling programme being planned for offshore Ireland, he said.

The firm has recently secured a new 50m financing facility with Macquarie.

http://breakingnews.iol.ie/news/story.asp?j=182902008&p=y8z9xz7y4

The Irish Examiner reports that exploration group Providence Resources, controlled by Dr Tony OReilly, is looking at the prospect of massive oil and gas resources from its Atlantic drilling prospects.

At this point the group has the potential for more than four billion barrels of oil in reserve and up to 26.4 trillion cubic feet of gas in its Dunquin and Spanish Point projects, in the Porcupine Basin.

Spanish Point already has proven reserves of 160 million barrels of oil and 1.4 trillion cubic feet of gas waiting to be exploited.

Dunquin has 25 trillion cubic feet of gas and 4bn barrels of oil.

With the low tax regime introduced by Fianna Fl, Dr OReilly, who has a 45% stake in Providence, could earn more than 1bn from the two prospects.

Group chief executive Tony OReilly Jnr yesterday said the prospects held by the company, added to the Corrib find off Mayo, could result in Ireland becoming a net exporter of gas to Europe in the years ahead.

He could not comment on the earnings potential of his father if the Dunquin prospect lives up to its promise, but agreed the estimates on the reserves were in line with the groups projections.

Since Exxon Mobil farmed in to the Dunquin prospects in February Mr OReilly said the status of the Atlantic Rim has significantly enhanced the profile of this area.

Under the agreement, Exxon Mobil will conduct a significant exploration programme involving a spend of 100m in return for an 80% stake. Mr OReilly said it would be years before the Dunquin operation would be ready for exploration, but confirmed Exxon will start seismic assessment of the region in the next few months.

Under the Exxon deal Providence will keep 16% and Sosina 4% of the Dunquin project.

That 16%, with a virtually zero tax rate and no royalties to the State, could see Dr OReilly net well over 1bn, based on the current value of oil and gas and the exploration terms introduced in 1992 by Bertie Ahern and Ray Burke.

Shares in the group rose 1cent in early trading yesterday but closed unchanged at 10c.

In the past few months the shares have more than doubled.

Providence yesterday published its 2005 results yesterday showing the group made pre-tax profits of just over 100,000 for last year, close to previous years figure.

Revenue grew by 30% to just under 1.4m, helped by higher oil prices, with all of this coming from the companys interest in the Singleton oil field in Britain.

Providence is also seeking a partner for its Spanish Point development off the west coast and Mr OReilly said the move by Exxon which is the largest company in the world, has generated a large amount of interest in the Spanish Point project.

http://www.finfacts.com/irelandbusinessnews/publish/article_10005882.shtml

Seems to have been very quiet on this one,anybody got any news?

this is one my chicken with a golden eggs. i am loving it

Sold this ages ago when at a high...

Looks interesting - will do some research and add to my watchlist.

SOUL TRADERS

PLEASE POST, AFTER YOUR RESEARCH, DO NOT DELAY THOUGH.
BOUGHT THIS AT DIFFERENT PRICES AND HAPPY TO BE IN.

Georgetrio, will do my best, but am snowed under at the moment.

providence resources plc said that the 2-D long offset seismic data of over 1500km over the dunquin prospect has been completed. Providence said the seismic data for the prospect in which EXXONMOBIL EXPLORATION and PRODUCTION IRELAND LTD and SOSINA EXPLORATION LTD are also partners, will now be processed, prior to interpretation and integration with the existing data. The results of the processing of this seismic programme will allow partners to better define the future work programme on Dunquin Prospect said
TONY O'REILLY providence chief executive.
Source: rns date: 11/08/06

just say: top banana

PLEASE CHECK THE RNS......FARM OUT DEAL
LOOOKING GOOD FOR THIS TOP BANANA.
IT WILL SHINE LIKE THE SUN IN THE MIDDLE OF THE DAY

what would you do, if you know where this share will be within three months? Or how do you know when a small company will be high flyer of the future?
things that bother every investors' mind. best luck

Providence Resources secures rig slot offshore Ireland from Island Oil




LONDON (AFX) - Providence Resources PLC said it secured a rig slot from Island Oil & Gas PLC for its 2007 drilling programme, offshore Ireland.Providence said it reached agreement with Island Oil for the provision of the semi-submersible drilling unit 'Petrolia' in 2007.'We are delighted to have reached agreement with Island to secure a rig slot in 2007, utilising the Petrolia Rig. This now allows Providence to progress its drilling plans offshore Ireland for 2007, said Tony O'Reilly jr, chief executive of Providence.'The assignment of one rig slot allows Island to share the high costs of mobilization/ de-mobilisation,' added Paul Griffiths, chief executive of Island.Separately, the companies said they will work together on a joint development study for oil assets in the Celtic Sea based on a shared floating production facility

September 27, 2006

PROVIDENCE RESOURCES P.l.c.

INTERIM REPORT AND FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30 JUNE 2006

Financial Highlights

* Turnover up 61% to 1,014,000 (2005: 629,000)
* Operating Profit of 52,000 (2005: Loss 15,000)
* Net Profit up 102% to 83,000 (2005: 41,000)
* 50 million financing facility agreed with Macquarie

Operational Highlights

* Singleton oil production increased following 2 new development
wells being brought onstream
* Dunquin farm-out agreement reached with ExxonMobil: work
programme agreed and started
* High quality 2-D Seismic data successfully acquired over
Dunquin prospect
* Completion of major pre-development study on Spanish Point
* Spanish Point data room opened for ongoing commercial and
farm-out discussions
* Drill rig secured for planned 2007 drilling programme offshore
Ireland (announced September '06)
* Celtic Sea farm-out agreement reached with Challenger Minerals
Inc.
* St. George's Channel Apollo farm-out process underway
* AJE 3 post-well analysis completed offshore Nigeria


This is an extract of the interim best luck

Commenting on today's Interim Results, Tony O'Reilly Jnr., Chief
Executive of Providence Resources P.l.c., said:
"So far, 2006 has been an exceptionally busy and positive period for
Providence: We have entered into long term strategic partnerships,
announced major farm-out programmes, arranged acquisition &
development financing, increased oil production and conducted major
seismic programmes. Looking ahead, we see a continuation of this
level of activity. Importantly, the securing of a rig slot will
facilitate targeted drilling in 2007."

PRODUCTION

* Increased Singleton production
* 50 million Macquarie financing facility
* New investment club
* Joint study with Island Oil & Gas on oil assets in Celtic Sea

The Company has a stated strategy to substantially increase its daily
production by a combination of increasing existing production rates
at its 20% owned Singleton onshore oilfield, as well as acquiring new
production/development interests and developing existing assets
within its portfolio.

The drilling of 2 development wells at Singleton in late 2005 has
resulted in an increase in production during the first 6 months of
2006. Further work is being carried out with the Operator, Star
Energy Plc, to evaluate further methodologies to increase production
rates and financial returns from the Singleton Field.

As reported in the Annual Report, Providence has arranged a 50
million revolving production acquisition/development financing
facility with Macquarie Bank. This gives the Company the financial
capability to invest in production and development opportunities,
with the support of Macquarie. Over the past 6 months, the Company
has reviewed a number of producing field opportunities, but to date,
no deals have been concluded. The Company will continue to evaluate
both production and development opportunities with the long term view
of enhancing shareholder value.

Externally, the Company has affiliated with a private industry
grouping who identify, procure and execute production and near
production/development opportunities in various parts of the world.
The benefits of this are apparent in that not only does Providence
get a wider selection of potential opportunities, but it also accrues
the benefits of third party technical and financial evaluation that
will complement its own analysis. Currently, the Company is
evaluating a number of proposals in areas including the Gulf of
Mexico, the North Sea and in other proven producing areas.

Within the existing portfolio, a number of assets in the Celtic Sea
and St George's Channel areas are being re-evaluated in terms of
commerciality and various development and drilling options are being
considered. As announced earlier this week, Providence has agreed to
work together with Island Oil & Gas Plc to develop a common strategy
report for the joint development of both companies' Celtic Sea assets
based on a shared floating production facility. This report will be
based on the extensive work Providence has conducted on floating
facilities in the Celtic Sea, suitably modified to take into account
the differing reservoirs for joint development purposes and economic
savings.

extract of the latest interim

DRILLING

* Petrolia Rig secured for drilling in 2007
* Potential for 2nd slot
* Additional rig slots being sought

Earlier this week, the Company announced an agreement with Island Oil
& Gas Plc ("Island") for the provision of the semi-submersible
drilling unit "Petrolia" in 2007, which Island had contracted for a
150-day drilling programme. Under the terms of an agreement reached
between Island and Providence, Island will assign 1 firm drilling
slot to Providence in 2007. This will allow Providence to progress
its drilling plans offshore Ireland for 2007, further details of
which will be announced in the coming months. The results of the
recently announced Gardline seismic survey will also be factored into
the decision making process on drilling locations. A further slot may
become available in 2007 depending on the duration of the respective
drilling programmes being carried out by the two companies.

Additionally, due to the substantial number of prospects available
within Providence's portfolio for both appraisal and exploration
drilling in Ireland, West Africa, and the United Kingdom, the Company
continues to search the market for additional rig slots, at
competitive market prices, for further 2007 drilling, as well as 2008
drilling.

OPERATIONS - NIGERIA

AJE, OML 113 (7.04% Interest)

* AJE 3 post well analysis completed
* Plans for AJE 4

The AJE 3 well offshore Nigeria was the third well drilled on the AJE
Field in OML 113, offshore Lagos, Nigeria and was spudded in 2005.
Whilst the well achieved its geological objectives, confirming the
presence of both oil and gas in both target reservoir intervals, it
was deep to prognosis which prompted further seismic evaluation by
the partners. The partners carried out 3-D seismic reprocessing to
link this well result with the existing two discovery wells (AJE 1
and AJE 2), as well as identifying a potential location for the AJE 4
appraisal well. The AJE 3 post well analysis has been completed and
overall, the revised analysis of the field suggests that the AJE
field could have the potential for both oil and gas production.
Currently, plans are being considered for the future drilling of AJE
4. Further news regarding the next steps for AJE are expected in the
coming months.

from the trades thread.....

Another one for the "UPS"
PVR 4.50 / 4.70p
Volume buying again after the short drop a couple days ago
MACD is on the turn now
News are that the company, has further extended its large holding of exploration acreage in the Irish offshore.
A good L2 at 2 v 1

Hi - just created a PVR thread in glorious technicolor for all PVR stalwarts and researchers. Normally, I dwell on a competitor thread, so it's up to you guys.