Member Info for DelBoi

The information I’ve heard is that the larger shareholders lost confidence in Jimmy Menton and his leadership was very ineffective within the board.
The word coming out is that a very influential player will be appointed to the role of chair in the coming weeks.
The word on the new CEO is very positive and some very positive progress is coming the way of Barryroe energy

A very shrewd move by the company in its response to media speculation....some interesting details emerged which if true, will game changers for PVR...clearly SpotOns unique approach is picking up traction in the industry and a targeting a listed vehicle complements their strategy....the risk element to this play has lowered considerably with the recent RNS’s ...when funding lands, sub 10p will be gone for good IMO

This is a fundamental development for PVR IMO, not only does it validate SpotOns approach, crucially through Societe Generale it shows that a significant proportion of financing is already in place. PVR clearly being targeted as a vehicle for much bigger things here. The Bentley Field has already flowed some 147,000 barrels of oil and with close to 900 million barrels in place i’d expect production could be in excess of 100,000 bopd. All the signals are there now folks ... we should see momentum pick up from here. GLA

https://twitter.com/mwap80/status/1356679073574043657?s=21

Nice exposure on the 6pm news this evening

Increased my holding here this morning, Barryroe is now even more valuable to Ireland, bond news next! Imo

I hear you bill, I guess the key trigger here is the bond raise. Effectively it means we can start to price in production, free cashflows and ultimately profits. Alan is already on record stating his intention to deliver a dividend for shareholders.

Cash flow projections off a 50% F/O and free carry

25k BOPD - 3 horizontal wells

LOGP 10% : 2.5k bopd @
($55 - 25bbl B/E)= $30 x .85 tax = $25.5 x 2500bopd = $63,750 x 25 days

$1.5m a month operating profit.

PVR X 4 = $6m a month operating profit

No tax upto €200m EBTIDA too, not included.

Or a more crude valuation of the BR asset.
350 mmboe 2C resources changed to 2P reserves
350 mmboe 2P in production sell at about $5bbl - $7bbl = $2.4b valuation vs current Mcap of £60m

In short, multi bags from here x 10 multiple achievable as we start producing. IMO

Initial production from the eastern panel of Barryroe will be material, circa 25k bopd, payback at current oil prices would see the bond holders paid back in a matter of months + No tax to be paid up to €200m EBTIDA, I see this as one the most attractive bond propositions out there, particularly when you look at the heavy weight stakeholders involved. Brent up 2.5% this evening, looking forward to the next few weeks ahead.

"Crème de la menthe" Rocklawn!!

From my research I’ve also found another project that SpotOn are actively involved in. Being a private company they don’t need to disclose anything , and out of respect I certainly won’t be sharing. I also won’t be engaging with an idiot like you anymore.

https://www.lse.co.uk/rns/PVR/providence-resources-plc-barryroe-farmout-update-development-consortium-information-8211-market-release-napwt3ykar0v0yu.html

You might want to do a small bit of research BF, do honestly think these “Major Players “ allow their names to be formally announced without permission?

SpotOn Energy are major players, the management team is made up of Ex industry veterans who held executive positions spanning as high as CEO in global O&G organisations. They are quietly going about their business, and I suspect they have more major projects on the radar. Remember through their unique model, the majority of the required funding is already in the place.

I honestly believe long suffering shareholder here will be rewarded. I see PVR hitting 60p over the coming years. GLA

That firm registers companies in their name enabling 3rd parties to reverse in for small fee. Why do SpotOn having a registered company in Ireland?, possibly a stipulation of the bond - could also be to gain access Ireland’s low corporation tax. The directors names behind the paywall are industry veterans. Might be other reasons, but I won’t speculate! GLA

https://twitter.com/delboiaim/status/1355055326370918402?s=21

What’s even more interesting is the calibre of the directors involved. Won’t share names publicly but very positive signal. “ global standing “ in the industry.

SpotOn Energy have just opened a limited company in Dublin, Ireland . Appears to have just been incorporated. Interesting..

Ive worked with one or two of the consortium members who will be developing BR, I know the level of detailed DD that goes into every project and commercial transaction , I hang my hat on a 350mmboe 2C resource base that will be taken into production at no upfront cost to PVR over the next 18 months. Which will produce 25k bopd, netting circa $7.5m operating profit per month to PVR.

The SpotOn team have devised a unique approach to achieve this which I can see gathering momentum in the industry. With a Farm out agreement now in place, structured in such a way that the consortium members will defer payment, utilising the Norwegian export credit facility (which is actually a right for Norwegian companies) and the company soon to be in the bond market - Anything you have to say Buckfern is just noise....Gla

Bucklerfern - SpotOn are a serious outfit with a track record of delivery in the industry. They have a unique development model, which they aren’t keen to shout about from the rooftops, for obvious reasons.

https://thecurrency.news/articles/14502/reviving-providence-resources-we-consider-barryroe-to-be-now-ready-to-be-developed/

Alan Linn has been appointed chairman of the Irish Offshore Association

https://t.co/Hev7aq7dkw?amp=1

I think PVR and SpotOn should be commended for securing an early field development program for $166m, an absolute bargain considering the partners involved. Especially with sentiment in the industry firmly turning and the price of oil rising.

At a breakeven of $23bbl, PVR’s share of Barryroe will be throwing off $7.5m operating profit per month. I don’t expect us to be languishing sub 10p for long. IMO