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Our illustrious new CEO has done pretty well so far. I wonder could he pull even more irons out of the fire and revive the OPL-1 deal with PSE / Petronas. Can't see what they would have to lose as they don't seem to have any plans of their own in train, and it would increase the chances of PVR reusing the existing gas infrastructure which otherwise has to be decommissioned. The stumbling block could be the regulatory end -- would a revived deal come under the heading of new exploration, which has been banned? Presumably not, as OPL-1 is an existing petroleum lease.
Not only did O'Reilly agree a deal with Petronas in 2015, within days he agreed a second deal with Petronas and completed neither. I believe he thought he would find oil in Druid/Drombeg and from the revenue drill the well in OPL/1 and take over the 50% of SEL 2/11.
Since Druid/Drombeg was "wet" he did not have the funds to do either.
https://www.offshore-energy.biz/ireland-providence-strikes-another-deal-with-petronas/
They ended up relinquishing both deals as usual.
SEL
I've been trying to figure out what happened to OPL-1 which contains an extension of Barryroe including much of the east and south panels. PVR had a three year option from 2015 to acquire a 60% stake by drilling a well there. The 2018 annual report has a tiny one liner: "OPL1 Option, North Celtic Sea: The option was not exercised". There is no mention in the 2019 report. So I assume the option is lost. Which means the planned well on the K site will only appraise the volumes in SEL 1/11. Pity.
That's a point Manyana
If you're filllthy rich, why are you boring the sh ite out of us imcompetant morons?
If you were making money on moving average cross-over strategies in Python you wouldn't be wasting your time on the #PVR message board trying to convince people you are something you are not.
You can't make money on moving average cross-over strategies because they give one false signal for every good one. Your best expectation in the long run is to lose your costs (if you are particularly good).
ps200306,
You are obviously getting paranoid and pathetic if that is the best you can do.
Python:
"Python is an open source programming language that was made to be easy-to-read and powerful. A Dutch programmer named Guido van Rossum made Python in 1991. He named it after the television show Monty Python's Flying Circus. Many Python examples and tutorials include jokes from the show. Python is an interpreted language."
Why don't you revise your knowledge of it and have a laugh.
Whereas you seem to have your head in the clouds I am here making money. You may feel intellectually superior but I feel richer and, as they say, "money makes the world go round".
Aha. Here's where Manyana studies his Python ;-) https://www.youtube.com/watch?v=mBcY3W5WgNU
So true. IS this place for endless B*tchin?
Nigel, I think the two lads need to get a room.
I was keeping it simple for your limited brain. That was just a simple item for starters. Would you like to see something more complex? And what does the output of your piece show? Sweet F.A. And who is to say you actually wrote the code?
Your items are pie in the sky whereas I like to use products in a "real world".
You can't make money out of "star gazing" or worrying about the price of houses in Stillorgan but you can out of financial modelling.
And I do so love it when your head gets stuck up your proverbial rear end.
Remember theses quotes of yours.?
*************************************
I'd still argue that the chances of a farmout are severely dented.
with low prices leading to shortages a few years later and high prices leading to gluts. This time could be terminal for PVR.
I am neither an experienced investor nor very financially literate.
Since gas prices are about a quarter of oil prices per unit energy, the oil in Barryroe contains 97.5% of the value. Of course gas is going to flow with the Barryroe oil but at such a comparatively low value it's more of an annoyance to be dealt with.
Is it "a large oil field with a gas cap or a large gas field surrounded by an oil rim"? Well, duh, yeah. One or the other. You can't really be telling porkies when you enumerate the two most likely possibilities. But the local village idiot could work out which one you're going after when the oil is worth forty times more.
*********************************
If you are so good at statistics how come you got it wrong when you said that Barryroe's oil was "worth forty times more" than the gas.
In fact the gas is worth 7% of the oil which is far more than 2.5%. You certainly got it wrong there but I was too kind to pull you up on it before. So who is to say you have not made the same mistakes on your analysis of the prices of house in Dalkey?
NigelH, the seminal work is Gray's "The Observation and Analysis of Stellar Photospheres". https://bit.ly/2PlhDKJ
All highly amusing: Still trying to locate a physics course on the topic of ‘the atmospheres of stars’.
:-)
"Is that the 16.40 at Windsor on the telly? Buy us a pint and I'll tell ya all about 50 lines of Python I wrote in me youth!"
I can imagine you down the local telling that story for the millionth time Manyana! I'd say it never gets old! Tell us that coding story again they'd say!
lmao. Manyana, I've realised you keep misquoting me because you're reading my posts off your spittle encrusted screen through a red mist. No, I didn't "try and be clever by posting what Python is used for by all sorts of bodies to do statistical analysis thinking you were smart". Could you even *spell* "H-band spectral analysis"? Here's the output of a neural net calculating temperature, surface gravity, and nitrogen, carbon, iron, and alpha metal abundances for 146,000 stars. https://i.imgur.com/RCx8Kq0.png
Something more down to earth that you might be able to better understand? Asking prices for Irish property as of last Saturday -- https://bl.ocks.org/pinsterdev/raw/b52f2a466477d05576bc/?s=commuter . Rental prices in Dublin -- https://bl.ocks.org/pinsterdev/raw/234b4a5310a14a32e080/ .
All done in Python by *me*. Now please, PLEASE stop spamming the board with your kiddie Python like a 2-year-old showing off their latest poo.
Yeah OK Donald.
Yes, I am nearly an octogenarian but can you "loser" do this especially when you could not stand the heat of the computer industry and jumped?
Just to give you a snippet, here are the Timeform recommendations for today's Windsor runners.
Windsor 1640 1 Olympic Theatre, 2 Atalis Bay, 3 Uncle Dick
Windsor 1710 1 Quickstep Lady, 2 Brunel's Boy, 3 Expedient
Windsor 1740 1 Magical Ride, 2 Second Collection, 3 Belated Breath
Windsor 1815 1 Just Glamorous, 2 Daschas, 3 Spoof
Windsor 1845 1 Taawfan, 2 Alibaba, 3 Winnetka
Windsor 1915 1 Rose Grey, 2 Angel Fairy, 3 Arabian Romance
Windsor 1945 1 Eternal Prince, 2 Willa, 3 Calm Down
Similar listings for Roscommon, Naas, Haydock and Yarmouth and other statistical information but just a taster for you because I know you are like the son of an Irish mother. She wrote to her son "Dear John, I am writing this letter slowly because I know you cannot read too fast".
And if you want to see what you can do with Python financially check out this Youtube site and see what this fellow does with twelve lines of Python code. And then tell me I have a screw loose. No wonder so many people are losers when it comes to investing and "clever" people are cleaning up at their expense.
#https://www.youtube.com/watch?v=QIUxPv5PJOY
import math
import pandas_datareader as web
import numpy as np
import pandas as pd
from sklearn.preprocessing import MinMaxScaler
from keras.models import Sequential
from keras.layers import Dense, LSTM
import matplotlib.pyplot as plt
plt.style.use('fivethirtyeight')
df = DataReader('APPL',data_source='yahoo',start='2019-01-01',
end='2020-08-03')
df
Exactly, 1cagney. The bloke's got a screw loose. Bragging that he can crunch a list in 50 lines of Python. If we didn't know he was an octagenarian I'd guess he was 13 ;-)
Step away from that flippin computer.
So you nerds know there is a bigger financial world out there than you think, here is a little light study for you.
I have chosen "algo trading" which does all the work for you when investing in stocks and shares. But you can choose any other "risk" activity but I know ps200306 sneered at "algo trading".
Why I mentioned multiple programming languages is because they are "tools". I ended up on Python because it is the most powerful and the best interpretative language out there giving instant results. It is called Python because the person who wrote it "liked" Monty Python and named it for a laugh but it is no laughing matter as numerous disciplines which use it can attest to.
Please note, also, how many of the presenters on these videos are of Asian background. That is why India, Pakistan and China now dominate the computer world while the lazy Westerners sit back and get "sh*t" upon.
So check all these Youtube videos and take your pick.
https://www.youtube.com/results?search_query=algo+trading+python
So, ps200306, still think all this is boring? Very few would agree with you and certainly no this long time retired old age pensioner.
https://www.youtube.com/results?search_query=algo+trading+python
https://www.youtube.com/results?search_query=algo+trading+python
It is also interesting
zephra,
When did that happen?
Obviously most of that will go over most people's heads but here is proof that computers, programming and its uses are far from boring. There is a big world out there where clever people screw the foolish out of a lot of money.
Here is Youtube to prove it.
https://www.bing.com/videos/search?q=python+find+track+name+using+market_id+betfairlightweight&docid=608041019801275074&mid=0D948383B894F6C492C30D948383B894F6C492C3&view=detail&FORM=VIRE
Jesus wept.
Thanks ps200306 you really made my day.
So you grabbed your handheld and looked up Python and found it was thirty years old -Wikipedia is full of that sort of information.
Then you try and be clever by posting what Python is used for by all sorts of bodies to do statistical analysis thinking you were smart. But how about it for analysing horse racing, greyhound racing, golf etc. as well as the stock market. Check out Betfair and you will see it has about thirty different sports categories you can "analyse".
So let us look at Python and Betfair. Have you ever heard of Timeform? Have you ever heard of "Dutching" and do you really know what Json is? Look it up on Wiki and it might enlighten you a "supposed" computer nerd.
So, let us look at Saturday's horse racing. How long do you think it would take you to analyse all the horse races in the UK, Ireland and the US that ran on any day of the week and pick out the top three horse in each race? Hours but Timeform can give you that information instantly and it is free with Betfair but costs about £1,000 a year if you subscribe.
Well, in about fifty lines of code I have written I can do that in less than two seconds. Can you do that?
What do you know about Betfair? A trading platform for numerous sports and activities even down to who is going to win or lose in any sport including politics and stock market analysis. You can use the standard interface or you can develop code you can write your own specific interface which does all the "work" for you which is exactly what I have done which makes it totally unique.
Note: "Betting on Financial Markets is simple on the Betfair Exchange. Browse over 5 Financial Markets bets, choose a market, such as: Non sport; Special, and then either match a bet, or set the odds and place a Financial Markets bet against others."
Do you know what "Dutching" or "Laying" are in any sport? And since you can get instant results from Betfair's interface, you can actually make a lot of money because the software will give you instant results and because it works in split second timing it is not possible to do it humanly but a computer can. Hence the "bots" or "algo trading" which you so "like".
Is that boring?
In other words, using a number of programming languages such as "C", Javascript, Python, PHP, Excel/VBA (Visual Basic/Studio),C#,Curl,Perl, Delphi,Clojure" you can access Betfair to analyse every horse race, greyhound race, golf tournament, financial market in the world in seconds.
Does that sound boring to you?
So, nerd, your comments prove you were a disaster in the computer world. The old adage, I am sure applied to you, "one good one is worth ten bad ones". I worked with both in my time and never the twain shall meet.
As for SOAP and JSon? They are API's that allow you to access Betfair without knowing what the basic code is written in. Soap was replace by Json.
So "loser" trying to be smart just proves how s
ps / delboi I'm overwhelmed with data. However it's all good stuff. I'll be a tad happier when the black stuff and/or gas gets to shore. Peace right back at ya.
Many thanks DelBoi, I think you are absolutely right. Since I asked the question I came across this 2017 presentation on PVR's website which you may well have seen but is news to me. I only wish I had audio or slide notes to go with it. It will probably make more sense to you than to me, but I get the gist. https://www.providenceresources.com/sites/default/files/Prospects2Go_BROE_FINAL_for%20website%20-%20small%20file%20size.pdf
It's got everything -- gravimetrics, reprocessed 3D seismic, drilling logs and cores from the 2012 48/24-10z well, etc. It seems the K site was under strong consideration at least three years ago, which begs the question why TO'R didn't even apply for a survey permit. Looks like they would be able to kill several birds with the one stone from this location for drilling costs of c. $25m. From a single well they would prove up 279 mmbo in the east panel, and sidetrack 1.5 km to the south to prove up 184 mmbo in the north central panel (oil-in-place, mid-case numbers). The total would be 162 mmbo recoverable at 35% recovery factor. Plus they would get to test the underlying Jurassic. There seems an awful lot to like with this concept.