look at it this way frus..jp in his pod mentions first frac at lewino didn't flow at commercial rates(go find its there)..the 3rd fac was textbook perfect!!(what does that make the 3rd frac then).......1st frac didn't flow at commercial rate!!..................3rd frac was textbook perfect!..make your own mind up.....Dennis McKee said in beginning of nov 13 "in the next few months to weeks we will have a commercial discovery in shale gas in Poland"...who were they working for at the time! sle.Make your own mind up!!..the rate sigma gave sle if the well was cleaned up was 200k/400k in the upper layer the lower they believe it could be more..needs to be carried out though!....the major shareholders are 100% behind OF and the bod..why...make your own mind up!!.....mine is..not worried about others if they cant grasp it...its my own opinion that a lot of aim companies hold back news etc and detail....you have to look harder into it..as for other sle wells you refer to..they are still in sle hands and will be brought to the fore, oil has been found and they are doing it their own way with major shareholder approval......think outside the box...you have been in sle long enough to know their game...don't think so by your posts...links
Positioned to generate cash through drill bit, production and transactions
Siekierki and Rawicz Q4 2014 well activity 3 well Karpaty area and Permian Basin drilling programme Sidi Moussa SM-1 well offshore Morocco currently drilling Torzym well planning / partner discussion near completion Braniewo horizontal multi frac proposed for Q2 2015 (oil) Lewino horizontal multi frac shale well engineered, partnering discussions continuing Barryroe NPI highly saleable once Operator farms out Albania offshore farm out generating significant interest Romania farm out active
Links can't help but notice your in a continuous running battle with a number of posters on iii regarding the question.....Is Lewino proven to be commercial and has the Co: ever announced commerciaity lFrom what I can see you keep refusing to give a direct answer.You call them names like, dense and know nowt's. why do you do that it makes you sound like a juvenile delinquent....Fact is you refuse to face up to the real issue by playing with words. I know what your referring to when you say the co: said this, JB said that. Of course in the past figures have been quoted that say's Lewino would be commercial. BUT you know very well that is not the same as saying Lewino is now proven to be commercial....Commercial in the true sense of the word means quite clearly that we are now in a position where we can get the stuff out of the ground, sell it and deliver it for more money than it cost's us to do this......Unfortunately niether the Co: nor anyone in it has ever claimed that to be the case therefore in this moment Lewino is not proven to be commercial. I doubt that I'm alone in the worry that in light of the 3legs BNK results/lack of/ that Lewino may disappear off the radar as with others in the past....Look at these, admittedly very brief extracts of news (RNS etc:) 30th June 2014/ Appraisal & ready to develope. The proof of a frac job is in the results andLewino-g2 delivered. A horizontal multi fracced well is planned and is being engineered......21st Aug 2014/ The planned Lewino horizontal is in final engineering, awaiting the results of 3legs and BNK. testing similar wells in the Baltic basin. Finalisation of the well and frac design, and a decision to drill, will be taken following analysis of results from the nearby 3legs and BNK wells......17th Sept 2014/ Poland update.SLE notes the update from 3legs. While it is disappointing that commerciality has still to be proved in a Polish horizontal well. SLE continues to believe in the potential of it's Gdansk W Concession......The most worrying bit's to me are commerciality has still to be proven in a Polish horizontal well ------ and ------ A decision to drill will be taken following analysis of 3legs and BNK results. The way I see it if their results had been any good our sp would be about double to where it is now. and rising. I've been with SLE long enough now to know their game. The trick is to get you interested in one or two other assetts....Then Lewino can die without too much fuss, can't tell you how much I really hope I'm wrong on this.Anyway Links commerciality at the moment, definitely not and you know it.
Is this the week that bulls of Providence Resources finally see the light at the end of the farm-in tunnel..?
Posted on DateThursday, October 2, 2014 at 4:03PM
I last wrote about Southern Ireland oil E&P posterchild Providence Resources in early September and I laid out the valuation case for a stock price multiples of the current price should the BoD finally get the farm in partner for their key Barryroe field and on which much of the valuation basis rests HERE.
I had the pleasure of meeting CEO Tony O’Reilly several weeks ago and took him to be a thoroughly honest and decent chap aswell as very charismatic. His line at the AGM that they are “nearing completion (of the Barryroe farmout process)” is, in my opinion, a clear statement that they are down to the last 2 or 3 serious players and resolution of this process is likely in the 4th quarter. The clock is now ticking…
News flow from the company since the AGM has been very much “business as usual” with a number of RNS’ detailing continued appraisals and activity in their extensive Southern Ireland portfolio.
As we can see from the chart below, the stock price has basically tread water and formed a new base in the mid 120’s this last 4 weeks and there are, for chartists, continuing positive developments highlighted in this chart.
PROVIDENCE RESOURCES 6 MONTHS DAILY CHART
It is interesting that while much of the oil E&P small cap sector has, once more, confounded the bulls and prices have edged lower in recent weeks, PVR has held its own with minimal amounts of purchasing of the stock ticking the price higher - an indication that the market makers are now running flat books and do not have a ready seller (contrary to the situation for much of the summer where the stock price halved on a persistent seller offloading).
What has emboldened me in my bull stance on the stock is the following information that was brought to my attention regarding statements made at San Leon Energy’s AGM on Friday (San Leon have a 4.5% interest in PVR’s Barryroe field). The statement that the “operator expects near term development deal closing” is perhaps the biggest smoke signal yet that the light shareholders can see at the end of the tunnel is, finally, the much vaunted farm-in.
MARCELLUS AND UTICA FORMATIONS MAY BECOME ANALOGUES FOR POOLS OF NATURAL GAS IN POLAND
The second day of the conference Geoshale 2014 , held on 24-26 September 2014. by the Polish Geological Institute - National Research Institute was devoted to natural gas from shale. Presented papers yielded interesting information and conclusions for those involved in the recognition of the potential of Polish shale.
So far, companies looking for natural gas in Poland encountered some difficulties associated with hydraulic fracturing treatments, especially matching the technology to the geological conditions in Poland. This was related include with different petrographic and mineralogical composition of Polish shale. Therefore, considerable interest aroused presentation of scientists from Germany, presenting the results of research on the relationship between shale fracturing fluid gazonośnymi and (A. Vieth - Hillebrand).
Equally interesting was the presentation and ongoing already during the poster session discussion on the analogy between the different pools resource properties, called paper TR Carr of Marcellus and Utica formations in the pool of the Appalachian Mountains in the USA.
The conclusions of the discussions seem to be optimistic. Utica shale formations (Ohio, USA), where he appears to be steadily increasing oil and gas, may be an analog of the Polish Baltic Basin shale. It was also found that the structure of tectonic Marcellus formation may be an analogue for our Lublin Basin.
Skirted over the past years of failure and then re-aligned new drill program to suit failed targets throughout this year. I know production is now a distant topic after we had it rammed down our throats prior to the abject Turkish dealings and "commerciality" speil from last Sept...
total bs which the paid bloggers on here cant surmise. The BOD at SLE are too close to be objective or to deliver any lasting shareholder asset growth or revenue.
Hugely disappointing that there is still no business plan in place, the mind boggles
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