Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Wraith....Dunno if I already asked you....Are you going to this year's AGM later this month?
Yes, it's getting interesting now,..... either way, success or failure with Druid/Drombeg drill, a Barryroe deal in 2017 looks to be on the cards to me (with PVR current Cash position),.... in the success case with Druid/Drombeg drill, I would not be surprised to see PVR attention focusing on both Newgrange & Barryroe,.... if Druid/Drombeg drill does not work, I would expect to see PVR attention focusing more on Barryroe. BW
Icemax.
I am also over 6 years here hence getting a little frustrated with the wait and delays. This was supposed to have been done and dusted years ago. Thank goodness I have managed to get my average down to a place where I think I will at least make a little bit for my patience but I make no bones about it that I want them to sell and walk away, and the sooner the better! I wont be at the AGM, I see no point in going to those for the simple reason that you can spend a day or so getting there and you're in and back out in 20 minutes. Waste of time.
LOGP is a bet on Barryroe and all we can do is wait! I hope nobody's bet the ranch as they could end up very disappointed! LOGP is my third largest holding and I've lost more money in the past on other lame ducks! I remain confident - either we come up trumps or we don't! Irish fuel security must make Barryroe a better prospect than it was in the past. What do Major Oil Companies know? If I were them I'd be taking over LOGP dirt cheap and exerting pressure on PVR. If Barryroe is never developed it's a tax loss.
Understand your frustration. I've been here for 6 years. 3 dollars a barrel would be a huge result. Do the math. I'm stickin with it cos as sure as I sell now the deal will be done. Coming to the AGM?
for the SP to get the trouncing it did today? It's about time they sold this lock stock and 69million barrels! I'll take £3 per barrel please!! Next week will be fine.
It's a cracker this one...a wee cracker! Hello sobeit you nerd. Enjoying your one to ones with Jimmy?
More or less. Though a straight take over is also a possibility.
I agree, but I think it is a binary bet on that outcome
It's been a long time....but if or when it happens this will be a huge multi bagger!
The problem we have is that they've been trying to get a Farmout deal for Barryroe for years and there have been no takers. There are literally dozens and dozens of potential farmout deals around but none of the big players are remotely interested, especially with current oil prices.
Not much action today. The modest little trade was actually a buy. I decided to even out my holding at 2 million shares...it's shown as a sell but it was a pretty good value buy imo.
Go back about 6 or 7 posts. A poster called draft posted 2 items on Tuesday. The are to be read together as they are part of the one report. This is the most recent piece of research on the subject that I am aware of and values logp north of 10p a share for farm out only. I reckon this is not over bullish and I am holding this for 10 bagger potential and more when the field gets developed. Good Luck!
Hi all, im a small holder here. What is the true potential here for SP with a good BROE farmout?
Bit of a sell off at the close for some reason. Ìm keepin this one on close watch at the moment.
With a Barryroe Farm Out, I would also expect to see multiples of current Market Cap. PVR in much stronger Cash position now, to negotiate a deal on attractive commercial terms,......will it come before Druid/Drombeg drill results or after is the question I'm asking myself,........ with the most recent guidance we have been given, I am of the opinion, we will get positive Barryroe news 2017. BW
Is my initial target on farm out, think it could come any time in next 3 months
to see some movement on this one finally, long may it continue as we are way undervalued here!
Thanks for digging that piece of research out draft. Just goes to show that a successful farmout of Barry would light a rocket under this.
Valuation undemanding, but risks remain We calculate a total net asset value for Lansdowne of 10.3p/sh. Our valuation is comprised of 11.0p for the Barryroe field (risked at 17%), offset by financial adjustments of -0.7p. For Barryroe, we include an initial development phase targeting 70mmbbl, valued at 6.0p/sh (risked at 40%), and a second development phase targeting the balance of the resource, valued at 5.0p/sh (risked at 10%). Exploration and appraisal upside is excluded from our valuation model. Lansdowne participated in the successful appraisal well 48/24-10z which tested 43 degree API oil at 3514 bopd. Three previous wells tested oil in the Barryroe Licence acreage which lies directly below the Kinsale Energy Limited operated Seven Heads Gas Field. The reservoir sands are in the Cretaceous Middle and Lower Wealden sequences between 1,400m and 2,300m (approximately 4,600 to 7,550ft) below sea level. Two wells drilled by Esso in 1973/1974 tested oil. Well 48/24-1 from Middle Wealden sands at an aggregate rate of 1300 barrels per day and 48/28-1 tested oil from a Middle Wealden sand at 1527 barrels per day. A third well, 48/24-3 drilled by Marathon in 1990, tested oil from Lower Wealden sands at an aggregate rate of 1619 barrels per day. •Oil tested is a light 43 degree API, with a high wax content ranging c.17% •Lansdowne’s share of 2C recoverable resources in Barryroe is 69 MMBOE Following integration of the successful appraisal well results the updated Oil In Place P50 Resource estimate by the Operator for Barryroe is 1,043 mmbbls
Licence 1/11 (“Barryroe”) incorporates part blocks 48/22, 48/23, 48/24, 48/27, 48/28, 48/29, 48/30 covering an area of 614 sq km along the axis of the North Celtic Sea Basin. The Barryroe Licence is held by Lansdowne (20 per cent) and Providence Resources plc (80 per cent). Part of the Barryroe acreage lies beneath the Seven Heads Gas Field, with the boundary between the two concessions lying at 4,000ft (approximately 1,250m) sub-sea. Lansdowne participated in the successful appraisal well 48/24-10z which tested 43 degree API oil at 3514 bopd. Three previous wells tested oil in the Barryroe Licence acreage which lies directly below the Kinsale Energy Limited operated Seven Heads Gas Field. The reservoir sands are in the Cretaceous Middle and Lower Wealden sequences between 1,400m and 2,300m (approximately 4,600 to 7,550ft) below sea level. Two wells drilled by Esso in 1973/1974 tested oil. Well 48/24-1 from Middle Wealden sands at an aggregate rate of 1300 barrels per day and 48/28-1 tested oil from a Middle Wealden sand at 1527 barrels per day. A third well, 48/24-3 drilled by Marathon in 1990, tested oil from Lower Wealden sands at an aggregate rate of 1619 barrels per day. •Oil tested is a light 43 degree API, with a high wax content ranging c.17% •Lansdowne’s share of 2C recoverable resources in Barryroe is 69 MMBOE Following integration of the successful appraisal well results the updated Oil In Place P50 Resource estimate by the Operator for Barryroe is 1,043 mmbbls
With litigation affairs now behind it, Lansdowne Oil & Gas plc (LON:LOGP) says the focus now is to create value from its 20% interest in the Barryroe oilfield, off the coast of Ireland. This is a significant resource, says the firm, with attractive costs of development and production. "With the recovery of the oil price, farm-in activity within the industry has started to recover and the Barryroe Farm Out process is continuing," the company added. "Having recently secured a facility of up to £350,000 with major shareholder Brandon Hill Capital, as announced on 29 June 2017, the company now has sufficient access to funding into 2018," it added.
Double the mcap if farm out happens??
Good post How much extra mcap is the farm out worth? We are already 6mill mcap Thanks