Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Don't normally have much spare time, in the day JH77,....been stuck at desk today, (only use desktop). BW
Unusual to find u about at this hour of the day Wraith! Also quite surprised to see a pretty chunky buy has just popped up on my screen.
Your welcome. BW
Cheers mate
Hi Loz786,..Barryroe drill targeted for, H2 2018 to H1 2019 (subject to consents). http://inpublic.globenewswire.com/releaseDetails.faces?rId=2145913 BW
Hi Wraith - when are they realistically looking to drill? 2018 H2? Thanks in advance.
I'm not getting greedy, here yet,...... at present, just holding a good Core LOGP shareholding position, waiting to see, what Barryroe news materializes, on Farm Out negotiations, if any, up to the end of the first quarter 2018. In the scenario that LOGP & PVR end up going it alone, with the Barryroe drill,.....LOGP share of the Costs will be US$5m, which at today's exchange rate (£1 to US$1.33) = £3.76m approx,.....PVR, are already in a Strong Cash position. Source: http://webcasting.brrmedia.co.uk/broadcast/59f35d654785893d8c05c73b Will be holding both, my PVR & LOGP Core shareholding positions, for Barryroe drill results, regardless,....Good Luck, with your decisions, JH77. BW
Slightly losing faith here Wraith.. Not with LOGP but with PVR. Unless Barry gets sorted before new year... things not looking good IMO. Good Luck! Not banking on Total at all, consider it a sideshow. Barry is the only show in town IMO.
With the 60 business day Option, Total have to Farm-In to a 35% interest in FEL 2/14 (FEL 2/14 contains the Paleocene "Druid", Lower Cretaceous "Drombeg" and Jurassic "Diablo" exploration prospects). Source: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PVR/13251554.html You are hopefully right there JH77, "calm before the storm ",.....I'm looking at the period, from 18/12/2017 to 31/01/2018, as a potential period, for Barryroe farm-out news myself. BW
Gone a wee bit quiet again today wraith...calm before the storm hopefully! ATB
Holding several hundred thousand LOGP shares myself JH77 (all LOGP shares, held in two ISA's),....have a much larger (Funds Invested) position in PVR (some of the PVR shares, held in two ISA's),.... will be holding both LOGP & PVR ISA held positions, for Barryroe drill results, which I understand is targeted for the second half of 2018 or first half of 2019,.....both LOGP & PVR offer huge potential s/p upside, on a successful Barryroe drill results, (imo). BW
Something is stirring in the background,....GL S Jonny @ III looks like just the 2 buys have created a no stock available situation for the MM's. Further buying likely to create a massive rise. Some investors may be aware that I have until recently been a long term critic of barryroe. The reason is that in the Celtic sea below the seabed is a thick layer of hard chalk rock which causes an echo in seismic known as a multiple and traditional seismic processing techniques to remove the multiple also reduce the signal strength of deeper layers of rock by circa 95% . For thin sand reservoirs such as barryroe it means the reservoir cannot be traced on seismic through out the field. Because the Celtic sea was inverted by a mantle plume circa 30 million years ago this caused shallow faults known as flower faults which compartmentalised the seven heads gas field which lies at a shallow depth above barryroe . Without seismic that can directly map the reservoir potential faults cannot be seen , with the result that project finance debt would not be available to develop the field and hence no farm outs for the last five years for a field with independent reported recoverable oil of 340 m bbls in which LOGP have a 20% interest. Readers should look at the website of seismic image processing who have a track record in solving this problem and they have done so for barryroe.The results are very impressive so read the last barryroe update from pvr. Now LOGP have 20% of barryroe and they have no money and they need $5m to pay for a well on barryroe that will lead to its development. Can they farm it out. Davy stockbrokers valued an undeveloped phase 1 development of barryroe at $5.81 per bbl earlier this year. Pvr recently advised that this next well will bring 168. Million bbls into the proved c90 category. Can LOGP farm out 50% for a carry of $5 million. The well is being drilled 200 feet up dip from the last well in a field with six wells drilled to date, the well locations are at the top of the structure so ideal as production wells. Assuming an investor got half of LOGP 20% the net reserves for the investment are worth $97 m for the phase 1 reserves at $5.81 per bbl per Davy and say $1 per bbl for the follow on reserves of 172 million bbls worth $17.2 million at total of $114m for an investment $5 million. Can they farm it out with this new seismic, very definitely . The value to LOGP for its remaining 10% after farm out is $114 million or �0.168 per share compared to a curent share price �0.009 an 18.6 x multiple. The chances of success for drilling 200 feet up dip in a field with six wells and new high resolution seismic are very very high. I would estimate an 80% chance of success leading to a phase 1 field development. I have purchased LOGP shares as they represent an extra ordinary low risk high reward opportunity. I have changed my view on barryroe because the new data requires it.
That didn't last long! LOL
Hi Mannan....Well, there have been reports that some breakthrough has been made on Barry roe. Namely an enhanced seismic has now verified that this field is a goer....so people are piling in as the share is seen as very undervalued with potential to be a multi bagger. Drilling is forecast first half of next year so it's a case of the early bird catches the worm. I've got a fairly hefty holding here and added another 100k on the strength of this.
when everything is falling why this rising ?
Buyout for me please
Stranger things have happened. I'd rather go the distance for greater rewards down the road post Barry roe.
Large company ready to jump in here with a buyout.
I watched one this morning posted prviously by Wraith http://webcasting.brrmedia.co.uk/broadcast/59f35d654785893d8c05c73b the rising from the ashes again was what I spotted so he'll have to shout harder from the rooftops if he's going to get money at a decent rate
He did a presentation in London on the same day as the Atlantic Conference was on in Dublin. Can't remember where the video was....somebody might be able to enlighten you. I watched it and it was pretty good stuff. Highly recommended. So the dear chap has been earning his crust! Great to see a revival in interest here.
I think the PR banners are going to get an airing after such a long time. Boldy needs some money and his share price average is high compared to everyone he has diluted to oblivion. He needs to get the share price up and get some interest back into the company to get some liquididty going and get the fundies interested. He's going to earn his crust after so long sipping tea and eating digestives.
In essense I agree, but no drilling for maybe 12-18 months and oil stocks getting hammered. Could be something about to happen, but more likely just a head fake as a few buyers are sucked into the lobster pot yet again.
69 million 2C Reserves @ $3 per barrel = $207M / 1.33 = �155M MCAP LESS THAN �5M Future costs of �5M so either 1.5 Billion shares in issue by then (worst case scenario) or other finance package (preferably) still gives a sale value per share of �155/1.5Billion = 10p A 10 bagger from here! BUT... managements average is above that! No Brainer
Ah....sorry bud. Been hopping between the two ! Good luck anyway Bronx.
Not overexposed here myself (% of my share portfolio Funds, invested in LOGP),............if LOGP get a Farm out, that would be my preferred scenario,... I would fully support, an Open Offer or rights issue, if LOGP decide to retain their 20% of Barryroe. BW