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 ?

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.

oil,you got me hooked!!!

It's been a while. PVR is doing well but in the last month they haven't went above the €7 mark.. I think I'll hold since Davy Stockbrokers reckon they'll make the €10 mark by the end of this year.

Midas of Daily Mail says £12!