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There’s something brewing here and may be a good idea to stock up. As for the future it’s still as cheap as chips for an entity to take over and get a foothold. We need 5p plus though to make a difference although valuations of OIP are difficult.
I agree as well and I think this version is a rewrite of the first upgrade not so long ago that was unusable. They will lose business if not careful.
This is getting very tedious with no information at all forthcoming. Their website states that they pride themselves with keeping in touch with investors. SP back to placement levels and seems to be a typical PVR management-style situation.
There's something very strange going on here. Whatever these very large trades are, and one is 2.1/2% of the company, there should be at least a blip on the SP. Or it's someone messing around with shares bought in the placing. However I just don't understand the ins and outs of these matters.
I’m amazed that this and pvr haven’t moved at all when logp are now in the clear by the looks of it. Unless there’s a game being played somewhere. Is it possible to suppress prices - seems like something weird is occurring.
The problem is that a couple of days ago £5m would have got you 10% if Barryroe and a month or so you could buy the company for that. I think this deal is very poor and shows desperation in PVR and maybe logp although they may not have much say. No cash to either for years - yes I know I’m repeating myself.
I agree with your prediction plus I�m amazed that the Irish Government would allow such a one-sided deal, with no revenue for anyone except this consortium, for years. And this means zero to the Irish govt coffers as well.
How do you know that when neither PVR or LOGP will see any return for years?
At least a deal of some sort has been organised and it’s good to see the ‘consortium’ funding via a loan the drilling of three wells. This gets LOGP off the chopping block in relation to raising cash for the work but I cant see any reference to the currently planned well - is it one of the 3 ? I don’t know. LOGP still has to run its day to day work though and not sure of their financial health for what will be a significant timeframe. I’ve seen this type of deal before and my real concern would be control of costs and cross-charging rates from APEC for project management. The internal project day rates can be grossly inflated and can add incredible amounts to overall expenditure. Logp and PVR May have little control over this. In addition this is only three wells - what happens if only one is commercial? Or if the commercial side doesn’t work once they are drilled? Will they drill more?? To get to production a load of cash is required to get the oil etc somewhere where it can be traded. Huge costs. I was told by someone who lives in whitegate that the facility is hiring quite a few people and have stated that this is for projects. Is there a clue there. Again no idea but funny how this is happening now. I would imagine that there’s quite a few years, five maybe, before and return for the under-dogs. I hope I’m proved wrong.
Hi ranger4. Strange how Rocklawn had a go at me about my lack of knowledge ref Irish politics and you say the same as I did and get off Scott free!!! It’ll be interesting to see how this pans out.
Anything’s better than this and I believe that any chance of anything happening farm-in wise, for a year or so, has been scuppered by the actions of the Irish government.
Not quite sure who you’re responding to. Probably me but I’m not on tablets or attempting to be aggressive. Just completely fascinated how people can invest in this (PVR) with its history.
I tend to agree with them. Just to repeat myself why would anyone go into a deal when the government has started a process to stop exploration. Have to be honest though (and apologies for being off subject) the europa announcement had me in stitches. Development next to Corrib!!! Best option as altantic margin it proved. That may be true(ish) but it’s just Mr Hugh pumping the SP which has bombed. Their UK onshore work has also proved problematic. Oh Dear.
I despair at some of these posts. Do you really expect a director of a plc to answer an email ref something that’s going on within his company that is subject to confidentiality!!??? Same goes for PVR. What was the email address you used??
I really can’t see anyone going full belt into this not knowing what lies ahead from the legislative point of view. The SP says it all.
Does anyone know the actual well flow results from the last well? I didn’t think that there was significant gas; mostly oil ??? I still can’t get my head around why, if this share is so undervalued, you can still buy them. I have >1% but can’t get my finger to press the button for more. I agree with the 10* SP on a deal.
You’ve gotta wonder if good old PVR aren’t blowing smoke on these issues as they have a thousand times. No interest in shares in either side, PVR or LOGP, from seemingly any quarter. I would have thought that previous announcements would have shut us off from logp as it seemed to be the gift of the century.