Kindle $4.97 $ 4.
is an Irish based Oil & Gas Energy company with a portfolio of appraisal and exploration assets located offshore Ireland. What is the meaning of PVR? .a{fill:#6db41e;stroke:#637733;}.b,.d{fill:none;}.b{stroke:#fff;}.c{stroke:none;}, +276.65 (+0.71%) Note 6 – Share Capital and Share Premium Number Authorised: ‘000 €’000 At 1 January 2020 Deferred shares of €0.011 each 9,944,066 109,385 Ordinary shares of €0.001 each 986,847 987 At 30 June 2020 Deferred shares of €0.011 each 9,944,066 109,385 Ordinary shares of €0.001 each 1,800,000 1,800 Number Share Capital Share Premium Issued: ‘000 €’000 €’000 Deferred shares of €0.011 each At 31 December 2018 and 30 June 2019 1,062,442 11,687 5,691 Re-designated as Ordinary Shares at 30 September 2019 5,378,931 59,168 \- At 31 December 2019 and 30 June 2020 6,441,373 70,855 5,691 Ordinary share of €0.001 each At 31 December 2018 and 30 June 2019 (Ordinary Shares of €0.10 each) 597,659 59,765 242,227 Re-designated as Ordinary Shares of €0.001 each at 30 September 2019 597,659 597 242,227 Shares issued during the year 59,766 60 3,382 At 31 December 2019 (Ordinary shares of €0.001 each) 657,425 657 245,609 Shares issued in period 184,089 184 1,940 At 30 June 2020 841,514 841 247,549 At 30 June 2020 (Total deferred and Ordinary shares) 7,282,887 71,696 253,240 On 5 May 2020, the Company issued 177,973,004 Ordinary Shares as part of a placing and subscription agreement which raised c. €3.1m from security instruments before expenses. The fair value of the warrants was calculated using Black Scholes model.
The warrants were issued as part of the fundraising in May 2020.Providence Resources has issued a total of 16,433,333 new Ordinary Shares (the “New Ordinary Shares”) to the warrant holder.Application will be made to the London Stock Exchange and Euronext Dublin for the New Ordinary Shares to be admitted to trading on AIM and Euronext Growth. Further information on Providence can be found on www.providenceresources.comINVESTOR ENQUIRIES Providence Resources P.l.c. is explained earlier.
Note 4 – Exploration and evaluation assets €’000 Cost and book value At 1 January 2019 81,867 Additions 3,702 Cash calls received in period (196) Administration expenses capitalised 507 Impairment charge (3,072) Foreign exchange translation 406 At 30 June 2019 83,214 At 1 January 2019 81,867 Additions 5,670 Administration expenses capitalised 405 Impairment charge (23,763) Foreign exchange translation 1,198 At 31 December 2019 65,377 At 1 January 2020 65,377 Additions 390 Foreign exchange translation 173 At 30 June 2020 65,940 The exploration and evaluation asset balance at 30 June 2020 relates to the Group’s Barryroe interest. The adjustment was netted against the exploration and evaluation impairment line within the income statement. Actual results may differ materially from those projected or implied in such forward-looking statements. The warrant liabilities are recognised at their fair value on initial recognition and subsequently are measured at fair value through profit or loss.
The total issued share capital of the Company, as increased by the New Ordinary Shares, will be 858,280,726 Ordinary Shares. After Paul Kalmanovitz (a Polish Horatio Alger who made his fortune in real estate) bought the brand in 1985 and then promptly died, PBR became part of his nonprofit foundation--an arrangement that ticked off the IRS. 3. The Directors have reviewed the cashflow forecast for the next 12 months and the underlying assumptions. Consolidated statement of changes in Equity For the 6 months ended 30 June 2020 Share Capital €’000 Undenominated capital €’000 Share Premium €’000 Foreign Currency Translation Reserve €’000 Share Based Payment Reserve €’000 Retained Deficit €’000 Total €’000 At 1 January 2020 71,512 623 251,300 10,087 642 (274,898) 59,266 Loss for financial period \- \- \- \- \- (9,247) (9,247) Currency translation \- \- \- 206 \- \- 206 Total comprehensive income \- \- \- 206 \- (9,247) (9,041) Transactions with owners, recorded directly in equity Shares issued in period 184 \- 1,940 \- \- (217) 1,907 Share based payments in period \- \- \- \- 216 \- 216 At 30 June 2020 71,696 623 253,240 10,293 858 (284,362) 52,348 At 1 January 2019 71,452 623 247,918 8,892 1,745 (248,759) 81,871 Loss for financial period \- \- \- \- \- (5,543) (5,543) Currency translation \- \- \- 389 \- \- 389 Total comprehensive income \- \- \- 389 \- (5,543) (5,154) Transactions with owners, recorded directly in equity Share based payments in period \- \- \- \- 40 \- 40 At 30 June 2019 71,452 623 247,918 9,281 1,785 (254,302) 76,757 At 1 January 2019 71,452 623 247,918 8,892 1,745 (248,759) 81,871 Loss for financial year \- \- \- \- \- (26,853) (26,853) Currency translation \- \- \- 1,195 \- \- 1,195 Total comprehensive income \- \- \- 1,195 \- (26,853) (25,658) Transactions with owners, recorded directly in equity Share based payments \- \- \- \- 40 \- 40 Share options lapsed in year \- \- \- \- (1,143) 1,143 - Shares issued in year 60 \- 3,382 \- \- (429) 3,013 Transactions with owners, recorded directly in equity 60 - 3,382 - (1,103) 714 3,053 At 31 December 2019 71,512 623 251,300 10,087 642 (274,898) 59,266 PROVIDENCE RESOURCES P.l.c.
Note 12 - CommitmentsAs at 30 June 2020, the Group has capital commitments of approximately €0.3m (31 December 2019: €0.6m) to contribute to its share of costs of exploration and evaluation activities. You are cautioned not to place any reliance on such statements or forecasts.
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They do not qualify for equity classification as any cash settlement on exercise of these warrants will be received in a foreign currency (to the Group’s functional currency), £ sterling. The remaining 33% of the total number of options granted are exercisable after a further year has elapsed provided that the agreed criteria by the Remuneration committee have been met.During the period, 36,500,000 share options were granted under the 2020 Share option scheme. Keep in mind that the abbreviation of PVR is widely used in industries like banking, computing, educational, finance, governmental, and health. Available … The auditor’s report on those financial statements was unqualified and contains a “material uncertainty related to going concern” paragraph.The condensed set of financial statements included in this half-yearly financial report has been prepared on a going concern basis as the Directors consider that the Group has adequate resources to continue in operational existence for the foreseeable future (See below for further details on the Directors assessment of going concern).In preparing these interim financial statements, management has made judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense.
In 2020 Ireland will import 100% of its oil and ~70% of its gas requirements. (PVR LN, PRP ID), the Irish based resource development company (“Providence” or the “Company”), announces that 16,433,333 warrants of 3p each have been exercised raising £492,999 for the Company. (PVR LN, PRP ID), the Irish based Energy Company, today announces its unaudited interim results for the half year ended June 30, 2020.
31,500,000 options were granted to the Directors and 5,000,000 options were granted to employees.Grant Date 13 January 2020 6 April 2020 Number of options granted 15,000,000 21,500,000 Volatility 103% 108% Time period 7 Years 7 Years Dividend yield 0% 0% Risk free interest rate (0.01%) (0.01%) Exercise price £0.04 £0.03 The total share based payments expense in the period to 30 June 2020 charged to the income statement was €216,000 (2019: €40,000).PROVIDENCE RESOURCES P.l.c. by Michael A Bennett | Feb 5, 2015. Available instantly. It is our intention to focus our technical efforts upon assessing near field exploration potential associated with existing discoveries, including Barryroe, and working with the government to maximise the economic recovery from our existing licences.ANNOUNCEMENT & FORWARD-LOOKING STATEMENTS This announcement contains certain forward-looking statements.
The Farmout to SpotOn Energy is progressing on schedule and we are actively engaged in planning the development stages for this project and bringing a consortium of global service industry leaders to the table to partner in the development. The 30 June 2020 figures and the 30 June 2019 comparative figures do not constitute statutory financial statements of the Group within the meaning of the Companies Act, 2014. A Lease Undertaking application to DCCAE is pending 2 Drilling Site Surveys complete 1 Planning Application to DCCAE is in the final stage of regulatory review and is expected to be awarded shortly. Barryroe is one of the largest undeveloped offshore oil and gas fields in Europe and is unquestionably the core asset in our portfolio.Good progress has been made to date, supported by a capital raising of $3.3million, before expenses, which provided working capital in April to fund the Barryroe farmout process and move the project into production through phased economic development.In May 2020, there was a further £200,000 raised through a subscription agreement with SpotOn Energy Limited bringing their total investment in Providence Resources Plc to £500,000.The Barryroe field was recognized as a valuable national resource in 2012, when Providence drilled the 48/24-10Z appraisal well and confirmed the presence of high-quality hydrocarbons, which tested at rates of ~4000BOEPD. PROVIDENCE RESOURCES P.l.c. The primary risk factor relates to completion of the farm-out with SpotOn Energy. FREE Shipping on your first order shipped by Amazon .
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