I overheard something about PVR (something to do with bonds but I can't remember where from), but I believe it should be quick. If I wasn't so tempted by Afren I would do it. This may be a complete misinterpretation of the facts, so please don't hold me to it.
Barryroe is 42api but an extremely difficult field as its all pocketed so will need a lot of wells making it very expensive. That is why Providence has had no luck in finding a partner and Providence can't go it alone. My own company looked at Barryroe before Providence got involved but turned it down on cost. Nonetheless good luck with it.
Yes I still have 150k plus in each of FOGL and IOF and am looking at some others now.FOGL Zebedee will be about Mar 20 0r so and that one is appraisal only. If it comes in as expected it will very significantly add to sea lion and increase FOGL to 20% of it. Production will be 60k bpd from 2018. As to IOF that should be very cash rich from mid 2015 as there are over 1000 fracking ponds for IOF to operate in. FOGL has been hit by nothing other than the oil price, but sea lion breakeven is $35 per bbl so its the usual market nonsense. It has $100+mln cash plus proven 100mln bbls 28api wax free low sulphur crude plus perhaps a further 2.5bln P20 crude, condensates plus a gas field of over 10tcf against 544mln shares in issue so at say $80 for crude you can do your own calculation. I believe the Argie risk is quite minimal also. TPET may be worth a look at by the way now its over the Morocco farce.
Will keep FOGL in mind.What do you think about PVR. Sitting on an apparently easy to get to big reserve at Barryroe and sepura looking to buy in??? Sorry Providence Resources and Barryroe off Coast of Ireland.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.