Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hmm. Rather a quiet day today on the morning session. Hopefully get a few buys this afternoon. Fully loaded me self!
JH77,..It is encouraging, that PVR are in a much better position (PVR are in a strong Cash position now & the point in time, ref Oil sector, more favourable), than they were back in early 2016, when trying to achieve a Barryroe Farmout. When reflecting on the above, my view is, we will have a positive outcome on Barryroe, at some point in 2017,....happy to wait, holding my LOGP Core shareholding,.. with strong hands. BW
Hope you are right re the AGM Wraith...and would be good if we had a good turnout this year and all! Would be even more interesting if we have some good news on Barryroe of course. We wait and see.
Eoin600,..Thanks for update on AGM, of 11th of September 2017,....that's well after the week (starting 21/08/2017) I have penciled in, for PVR Drombeg drill results,... the 9th September 2017, was the longest date, I originally had penciled in, for PVR Drombeg drill results,..... PVR Druid drill results, came sooner than I had penciled in,... I'm hoping, it will be the same, with PVR Drombeg drill results. The run up to LOGP AGM, should be interesting, with PVR Drombeg results close (imo). BW
it will happen….when…who knows. As long as the oil price remains steady, any time. Bought a chunk and will forget about it and wait for the rns
AGM notification in the post today for the 11th of September. Will be interesting to see if there are any Developmemts prior to that.
Thank you Ajed.
Suzy2,...With Pageant increasing their holdings in PVR, at this stage of the PVR Druid/Drombeg drill,....that long awaited Barryroe Farmout news, could be close (imo). Pageant increasing from;- "Providence Resources P.l.c. (the “Company”) have been informed by Pageant Holdings Limited on 25th November 2016 that with effect from 23rd and 24th November 2016; Pageant Holdings Limited now hold 44,541,186 ordinary shares in the capital of the Company representing 7.45% of the issued ordinary share capital." Source: http://www.providenceresources.com/sites/default/files/Notification%20of%20Interest%20in%20Share%20Capital-%20Pageant%20Holdings%20Limited%2028-11-2016.pdf Pageant increasing to;- "Providence Resources P.l.c. have been informed by Pageant Holdings Limited on 8 August 2017 that with effect from 7 August 2017; Pageant Holdings Limited now holds 49,316,630 ordinary shares of €0.10 each in the capital of the Company representing 8.25% of the issued ordinary share capital." Source: http://www.providenceresources.com/sites/default/files/Notification%20of%20Interest%20in%20Share%20Capital-%20Pageant%20Holdings%20Limited%2009-08-2017.pdf BW
Depends on how you define 'discovery' and 'field'. I have always thought a discovery was from exploration drilling. The Providence Barryroe (48/24-10) well was apparently an appraisal of the old 48/24 well drilled by Marathon ages ago which is also classed as an appraisal well. I got this info from the DCCAE (Irish Department of Comms and Energy etc) and their IPAS system. Also looking at the co-ordinates of the the two wells it's clear they are pretty close to each other (500 metres) so maybe oil was expected anyway. A Field is normally defined by the results of exploration and then further appraisal drilling in terms of areal extent. I don't think that these two wells could truly define a Field and maybe potential partners or investors need more evidence which can also only be gathered by more drilling. Then there's the problem of compartmentalism which seems to have a lot of discussion on the iii site. There's a lot of info on the web about this and how it's cratered various Operators in the UK and elsewhere. I'd imagine that this is very difficult for Providence but any upside on Barryroe will pay dividends via the Lansdowne share price.
Wraith.....I was taking Barryroe for granted, I'm only in for Barryroe, which is not to say I'm not excited about the others. BW
Suzy2,.....You left the most important one (Barryroe) out,.... for us LOGP shareholders, that is. With the guidance given (Barryroe Farmout targeted, for early 2017),..... so with that guidance,one would have thought, it must be close,....what has happened to our AGM this year, why the delay I'm asking myself, last years was on 20 July 2016. BW
AJED...Thanks, interesting stuff, my son's a wire line engineer, which is why I'm interested in oil exploration and I thought Irish oil was a romantic prospect, silly me. But that's life, you win some and lose some, but it's not over yet, Avalon, Spanish Point, New Grange, can they all be duds? Don't answer that. :-)
because they want to damage ours .health & wealth
I was with PP66, After the B14 Fu.. Up I was on Workover all the time. Must have met up at some time? Hint I was the only ; Paddy Pusher: in Tananger Good Times ,No Fast Tracked Bullshitter's calling themselves O.I.M's. . I spend a lot of time in Thailand meet them all the time, Takes me about 5 mins to catch them out and trip them up. Good for a laugh it's like some of the comments. I wonder what Casing they set before drilling Druid, 13 3/8 my guess Had to establish M.A.A.S.P.. Have A nice Day
Good to have some experts about. What do you think of the Barryoe field and discovery? Why are the big boys farming into wild cats rather than Barryoe which is a proven discovery?
Sean. Keep up the good comments and I'm sure we were there together. Frightening - it was so long ago.
Hi Suzy2. Didn't realise it was such a long time!! I've been around in 'wells' for 42 years and am still at it. That's anything - drilling, testing, fracking, completions, workover all the way through to abandonment. Plus legislation which they have oodles of in Ireland. I've been involved in many of the wells drilled and tested there since the KInsale field and the original west coast exploration wells with Philips and Marathon etc. Sean says he was around on ekofisk with Halliburton doing a frack job back in probably 1979 or maybe as late as 1982. He and I must know each other as I was also there. I'm happy to comment on stuff, as Sean would be, but don't want to get into slanging matches. PVR etc have fantastic equipment to work with nowadays, especially the Icemax, and LWD will get you most of the way in terms of hydrocarbon shows. If there's good indications you'd run electric line (with Schlumberger funnily enough who told you there was oil in the first place) to prove or otherwise what's there. What gets on my nerves is the BS that comes from certain corporate individuals who blindly believe that there's 5bn bbl (barrels) in the various targets because a certain blue-coloured service company said so. Now there's nothing and everyone thinks badly of them again. That's enough for now.
Hi Ajed, nice to come across someone with a a bit of knowledge. I was 10 yrs on Ekofisk 70's 80's did one Frac job with Hall B. Worked on B14 with Red Boots and Richard ( Red's Son in Law) another coverup I went off 3 day's before she blew, came after a week to work on kill. we were Lucky, Lucky. with regards Icemax and Slumb log's Salt Saturated water and Light Oil S.P.G very close,very hard to tell the difference unless you have some log's close by to look at. Gas is a very different ball game S.P.G. under 3. I really enjoy some of the comments
AJED. You've been a member of LSE since March 2010 and this is your first post... what kept you, since you know such a lot?
Sean of Ekofisk you're a genius. Only problem is that you don't provide units (psi/ft, psi, ft etc) for your standard oilfield equation for the uninformed. You also berated 'experts' on PVR for talking rubbish and having never been on a rig floor. You did take a swipe at people having said that Icemax was a twin derrick drilling rig. Well it is a twin-mast unit but in oily talk it's twin derrick. One for drilling etc and one for preparing BHA's, or logging suites and the rest. Both have high capacity in terms of pulling power and save time dramatically. Also you talked about DST's only being performed in cased hole. Unfortunately DST's were run for years in open hole, and still are, using an open hole packer and testing assembly although offshore it's been the practice for some years to test in cased hole. I used to be the fracking lead for a certain service company offshore in days gone by and was on Ekofisk many times. There is a load of extremely funny discussion on this site, the LSE PVR one, and the iii PVR one due to the general lack of knowledge as to how wells are drilled and seismic interpreted, and most other subjects, but it just serves to lighten up my day. Finally! I don't understand how anyone would believe anything that PVR say about possible oil in place. 5bn barrels was / is laughable especially as 30 experts sat around and believed what Sclum had to say. Ramping big time and now people are still buying when anything found deeper is a pointless exercise and, as someone with a brain said, Total won't buy in - it'll be too small and too complex to develop. It makes good reading though.
in my eyes this isn't going to stay still for long. Receipt of Barryroe drilling news and houston we are cleared for take off. However, if PVR decide to use their money for a different drill as they are a little under the weather at this time then houston we have a problem
At least you know what R.K.B. means, we might have a similar background. R.K.B. was just to see if anyone had a clue. like T.V.D. and 0.052 Ha. Ha.
Ships!! Damn phone and big fingers!
Mostly used drilling onshore nowadays. No kelly's in today's drills hips ;)
For all you drilling experts. Mud Wt or salt Water wt x T.V.D, x 0.052 = Hydrostatic Pressure from R.K.B.