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Yep, that’s the ship and on its way to Ireland as planned it seems.......Now show ya the money.....please
https://www.marinetraffic.com/en/ais/details/ships/shipid:248918/mmsi:232013164/imo:8517205/vessel:KOMMANDOR
Kommandor setting off to Waterford
Finance news next
Yes
According to marinetraffic . com Kommandor has a new schedule reported at 18:29 UTC today:
From: LOWESTOFT
To: WATERFORD
with ETA 2019-09-02 18:00 UTC
Is this the ship we might be interested in ?
Looks like no attendees ....probably thought the AGM was going to get pushed back!
Any news from the AGM?
Spot on hereandnow….. +4 will be the entry then.
The point here is, when the APEC money drops, everything in Phoebus's synopsis becomes real. Investors will flock in. All that info. will get read and analysed. The asset size will be understood. The added potential understood. The drill campaign and what it will show will be understood. Once the money drops the sub 2.5p entry will be gone in a flash.
unlikely someone with punt money 105k. thats big sum
There's huge potential, but most investors won't touch either share because they don't believe it will ever be realised.
8) Additional upside from licence extensions
The licence area has been extended by 180km2 since the last CPR to include areas that appear to contain field extensions to the south and south-east with potentially significant volumetric upside.
CONCLUSION
This gives a total recoverable potential of 1001 MMBOE gross or 100 MMBOE net to LOGP excluding additional upside from the Jurassic and licence extensions. No wonder APEC want to undertake such a large appraisal campaign. While I don’t expect to see final figures reach the upper levels indicated here I would think a figure of 500-600 MMBOE recoverable is quite possible, which would have a material impact on LOGP and its SP.
EXCELLENT ECONOMICS FACTORS
Additionally Barryroe benefits from some excellent economic factors.
1) VERY LOW TAX REGIME – Ireland has one of the world's lowest tax regimes for oil and gas exploration meaning more profit.
2) SHALLOW OFFSHORE – The field is in shallow water meaning less expensive rigs.
3) UNDER AN EXISTING FIELD AND ASSOCIATED INFRASTRUCTURE – The field is directly underneath the Seven Heads Gas Field, which is producing. As a result, there is already some infrastructure in place both at the field and onshore, meaning development costs will be mitigated.
4) NEAR TO SHORE – At only 30 miles offshore the field is relatively close to land compared with many North Sea fields, which again means lower development costs.
5) HIGHLY PRODUCTIVE WELLS – The field is highly productive. Following on from drill results, it was forecast that a 1,000 ft horizontal well could deliver 12,500 BOPD plus 11 MMSCF/D totalling 14,300 BOE/D, and that 41 such wells could be used. Obviously they will come on stream in batches, but this does indicate a very high aggregate peak production rate for the field. Read huge revenues.
Given the significant upside already highlighted at Barryroe and the scale of the upcoming drilling campaign, it’s quite possible that we will see a dramatic increase in 2C figures.
1) 345 MMBOE 2C in the Middle and Basal Wealden
At present the Barryroe Field is estimated to contain 2C 345.5 MMBOE recoverable gross, consisting of 266 MMB in the Basal Wealden, 45 MMB in the Middle Wealden and 34.5 MMBOE (266 BCF) in the two intervals combined. Four of the upcoming wells including one sidetrack will target the Basal Wealden.
https://www.investegate.co.uk/providence-res---pvr-/gnw/barryroe-oil-field-technical-update/20130405070026H0462/
2) 124.8 MMBOE P50 in the Lower Wealden
The Lower Wealden has already been drilled more than once. Well 48/23-1 logged about 120 ft of stacked hydrocarbon bearing sands with average porosities of 16% and hydrocarbon saturations of 70%. A failed well test in 1976 appears to be due to mechanical failure. The probability of this interval being converted to 2C looks very good. The interval is estimated to contain 416 MMB STOIIP, which at a 30% recovery factor would equate to 124.8 MMBOE.
https://www.investegate.co.uk/providence-res---pvr-/gnw/providence-resources-plc---barryroe-oil-field-----/20120905070207H8739/
3) 108.6 MMBOE P50 in the Purbeckian
Well 48/23-1 encountered a 70 ft hydrocarbon bearing sand in the Purbeckian, but did not test it. The interval is estimated to contain 362 MMB STOIIP, which at a 30% recovery factor would equate to 108.6 MMBOE. This interval is to be drilled by three wells in the upcoming campaign.
https://www.investegate.co.uk/providence-res---pvr-/gnw/providence-resources-plc---barryroe-oil-field-----/20120905070207H8739/
4) 27 MMBOE P50 in C-Sand
The 48/24-10z well tested gas from this sand. It is estimated to contain 216 BCF GIIP, which at a 75% recovery factor would equate to 27.0 MMBOE. This is the highest interval in the well so should be intersected in the upcoming program.
http://lansdowneoilandgas.com/wp-content/uploads/2018/05/Investor-Presentation.pdf
5) 41.1 MMBOE from increase in Middle Wealden RF to 30%
The current RF estimate for this interval is 15.7%, which seems rather low and is in contrast to the Basal Wealden RF of 35%.
6) 313 MMBOE 3C upside in Middle and Basal Wealden
Given the scale of the upcoming drilling campaign there is a good chance that at least some of the current 3C resources (624 – 311 MMBOE) will be converted to 2C or better. The planned four vertical wells are located across the geographic extent of the Barryroe structure and are designed to test the full potential of the Basal Wealden.
https://www.investegate.co.uk/providence-res---pvr-/gnw/barryroe-oil-field-technical-update/20130405070026H0462/
7) Further prospectivity from the Jurassic
No resource estimates have been made as yet for this interval, but it is to be drilled by three wells in the upcoming campaign.
wouldn't be the first spike on impending news that didn't appear
Agreed. The upside on funding RNS is too big not to take a position. Could easily hit 4p on news especially given the lack of free float. After a very long wait it looks like operations could be underway very shortly. For a 10% share of 345 MMBOE 2C the current £11M market cap is a joke and that's without any of the upside from the planned 5-7 well appraisal and exploration drilling campaign. GLALTH.
back over 2p by COP and ready for news …………..even now @ 1.80 its way to cheap
Very good chance. And site survey ready to start any day. PVR now up 10%.
up 29% so id say news on funds is very close indeed.... 7am RNS then 100% jump looks good to me!
Any news from the above .. as theres alot of buys going through....
From 2019-06-28 RNS, 'The Company will be holding its AGM at the offices of Pinsent Masons LLP, 30 Crown Place, Earl Street, London EC2A 4ES on 29th August 2019 at 12 noon.'
So that huge buy over at PVR occured 21 minutes after the start of the AGM. I'm guessing someone felt very assured about the APEC payment after what was said at the AGM. Bodes very well IMO.
somethings brewing we are on the move
Whose AGM WAS ON TODAY ...LOGP or PVR ?
923k share buy here too....are we hearing something good?
Yeah, some guy like me decided to take the few coppers and bale out while it's still worth something. I know it's the right thing to do but it hurts too much to do it.....
just gone through at PVR.
Good morning.
I expect management to provide additional details/explanation in relation to the funds to be received from APEC
Living in South America, there is no way for me to assist the meeting.
If there is someone here who will do, please comment.
Thanks
Fernan