The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
https://media.radiokerry.ie/mediamanager/embed/player/#podcasts/9/item/69883
I don't envisage any excess costs to EXOLA, However I do agree, without any achievable and sustainable green energy solution, one that can consistently meet growing demand. Unfortunately they are just standing in the way of progress.
The COSLInnovator was only nominated last month, As per the RNS dated 1st Feb 2019.
I picked up a further 350k on the dip last week. Correct Nigel, 3 of the 4 vertical wells will test the deeper upper Jurassic horizons. We don't have any volumetric for this as of yet, however hydrocarbons have circulated to surface from this level. - 34.5MMBO 2C, Main Basal Wealden - 23.3MMBO, Lower Wealden and Purbeckian - ??? , Upper Jurassic Sticking my neck out, I suspect me may see 2P reserves net to LOGP in the 80-100MMBO. Makes for great reading when you attach a $3-$5 bbl valuation. Could well blow my 17p price target based on the 34.5MMBOE out of the water.
Quick reminder of the potential here, 17p price target very achievable IMO. Lower Wealden and Purbeckian (not included in the contingent resource figure of 34.5MMboe) have an estimated combined P50 STOIIP of 778MMBO in place. Assuming a recovery factor of 30%, that yields 233.4MMBO, net to Lansdowne is 23.3MMBO + 34.5MMBOE 2C Not including the lower Jurassic potential. Evaluation of Jurassic potential During the period, studies were carried out on the deeper Upper Jurassic potential, which the Company had previously postulated to exist below the Barryroe oil field and which was thought to have material upside resource potential. During 2013, an evaluation of the previous Esso operated 48/22-1a well, which lies c. 20 km west and down-flank of the Barryroe Field in 5 the adjacent Licensing Option 12/04 (Providence 80%, Operator), was undertaken. This new analysis has highlighted a c. 300’ gross interval of Upper Jurassic Tithonian aged hydrocarbon bearing sands with c. 70’ of net pay, averaging 12% porosity. These sands, which were not tested at the time, may exist beneath the target depth (TD) of the current Barryroe wells, thereby adding even further resource potential to the known Barryroe Purbeckian and Wealden hydrocarbon bearing intervals. In addition, it is notable that the 48/22-1a well had to be prematurely abandoned having encountered a significant 14 pounds per gallon (ppg) pressure kick, with hydrocarbons circulated to surface from a glauconitic bearing Jurassic sandstone at TD, which was not logged due to operational constraints and safety issues. These data suggest that there could also be the potential for a further deeper Jurassic shallow water marine hydrocarbon bearing system below the Tithonian. https://www.ise.ie/app/announcementDetails.aspx?ID=11724806
Jittery market conditions presenting a good top up opportunity ATM, Project financing seems to be a cross market concern, no such concern for LOGP. We should see some ISA's money drop in next month along with permitting approval. GLA
Copperpot, good post, I'm of similar sentiment. This was always an investment for me, 2-5 years, astonished by the 150% drop mind you. I put a note up on twitter, trying to put things in perspective as I firmly believe the Tunisian licence has been overlooked. With the work program about to kick off! Ref Prospect - Boudabbous Flower, 800BCF - Eqv to 142 million barrels of oil.* Conservative est of $1 per bbl = $142m or £107m vs current MC of £9m Established nearby pipelines and gas compression facilities to boot. Makes for an exciting future IMO
Probably worth giving this article a read LY. https://amp.breakingnews.ie/business/varadkar-slams-wrong-oil-exploration-ban-bill-905961.html#click=https://t.co/68N4mkEvim Personally I think PVRs green energy endeavour is all smoke and mirrors...for now.
Could be boxed off by April. https://www.dccae.gov.ie/en-ie/natural-resources/consultations/Pages/Application-for-consent-for-a-site-survey-at-Barryroe,-North-Celtic-Sea,-South-West-Coast,-Ireland-proposed-by-Exola-DAC-wh.aspx
This bodes well for PVR shareholders too Re the recent TR1, Andrew Mackey Chairman of NRG Well control- declared 3% of LOGP yesterday. " I had a long and pleasant chat with Andrew Mackay this morning. I can confirm that he was in charge of the well management of the Barryoe well back in 2012. He has been in the business over 40 years and was involved in the earlier wells back in the 70's. He asked me to post a synopsis of our chat to forestall any speculation as to his current involvement. He has had no contact with LOGP and has no inside knowledge whatsoever . He just thinks LOGP is cheap so he started buying in the 1s' and continued buying hence he crossed the 3% threshold and had to declare. As the first well in the up coming campaign is so close to the 2012 well he thinks the COS should be pretty good. He stressed he is not a geo physicist but an engineer. He does not want to be bothered by private investors, he is a private man and is busy so please leave him in peace. Personally, I take it as a positive that he has invested his cash into LOGP. He knows the asset intimately, he thinks LOGP represents good value, he has reduced the free float." ANDREW MACKAY Andrew Mackay is owner of NRG who did well management on the last well on Barryroe. http://aberdeenbusinessnews.co.uk/2018/11/27/new-director-appointments-ensure-continuity-for-nrg-group/
https://www.dccae.gov.ie/en-ie/natural-resources/consultations/Pages/Application-for-consent-for-a-site-survey-at-Barryroe,-North-Celtic-Sea,-South-West-Coast,-Ireland-proposed-by-Exola-DAC-wh.aspx
Nice one Eyeore2, that's a fine holding. I will stick that onto the other 27 million in our small group. - Twitter 32 million - AJED 40 million - AM 20 million Plus others here have stated there sizeable holdings. Things should get interesting once liquidity drys up. Avonas, that's a very positive signal if Andrew was attached to the well control on the last BR drill. Speaks volumes! Pardon the pun.
AJED, I actually thaught it might be you or one of your pals! You guys account for close to 40 million or 6% if I remember correctly? With Andrew Mackeys holding, we can now account for over 80% of the shares in issue. I'm also aware of a few others waiting in the wings for confirmation of the site survey. I've got it from the horses mouth that the application was submitted last Thursday.
That's a fine holding Andrew Mackay! Well done that man. He's the proud owner of approximately 1 million bbls of 2C resources. It's as simple as that. I'm not quite there yet, but our twitter group is at over 4% now. Wouldn't mind if it held this level for another week or so. Wouldn't mind a few more of these myself, hoping to purchase a few more at this level next month. I suspect that won't be the last TR1 we see in the lead up to the campaign. As Druidinvestor has already mentioned our small twitter group has 4% now.
Cracking results so far, excellent grades. Dr Jonathan Forster - "The continuity of the widths, grades and near surface location of the gold mineralisation is potentially indicative of a zone that is in the 'sweet spot' with potential for future economic extraction; in particular given the very deep weathering that has resulted in oxidation to depths of 90m or more." Jonathan, understated as ever, but it sounds like we may have a commercial project on our hands.
Agreed Longwait, LOGP will need to raise funds, but the company broker who will conduct the raise owns 21% of LOGP, with two of the directors owning approximately 7% of that. These guys won't look to dilute their own positions IMO. I'm expecting a fully supported raise of 500k max in Q2, Q3. That should propel the SP. I really like PVR and their assets, I just lost a bit of faith after no news on Newgrange. It's a tough market for partnering ATM and that brings its own associated costs.
Listen to "Dr Steve Staley, CEO of Upland Resources #UPL - 1st August 2018" https://www.**********.co.uk?mediaAssetId=5b6309494f82fd001082da9a @********** Steve gives a good summary of our position in the final minutes of this interview.