Member Info for Early_Bird

was 500-700mln market Cap on Barryroe discovery 5 years ago. EV currently 35m so this has huge legs. Expect 20p prior to farm in then 50p following farm in given size of Barryroe. Huge rerate coming here this month

Without repeating myself responses to all these questions I posted on 26th Dec.

Quite a coordinated effort going in here from two posters that work together over at aaog. Keep trying chaps. Sitting 20% under year end cash balance here. It aint going lower. Ive answered all your previous questions. You just simply keep repeating them over and over like a broken record even after I have answered to clutter the BB. Its trolling frankly and Im looking forward to the RNS doing the talking. GL and if you have nothing new to add kindly move on

The beauty here is that A - the oil is there and it flows high quality crude and commercial rates B - appraisal drilling is much lower risk than wildcat exploration C - oil price is now considerably stronger at $60 and rig rates have stayed at the lows Market is currently pricing all this as if nothing existed. Even wild cat explorers targetting far less net oil have far higher market caps purely on the speculation of it hitting the black stuff with COS less than 30%. PVR already have hit the black stuff. So all that needs to happen here is for the market to start pricing Barryroe back in. On farm in the market should really be pricing the existing known 2c resources in which gets you to 52p. Backed up here by 6.5p cash. A cracking low risk high upside opportunity quite unique.

Assuming PVR manage to secure a farm likely to be 50%of Barryroe would mean that PVR go to 40% and LOGP go to 10% in return for a multi well drill program that is full carried by the new JV. PVR would retain 140mmbol Net 2c oil. This should conservatively then be priced at around $3/bl using standard industriy metric for contingent resource gives a fair valuation on Farm in being secured of $420m which is 52p per share and thats ignoring the huge cash balance PVR also has (circa 6.5p/share). So im amazed people are targeting just 20p per share here. Barryroe appraisal could also bolt another 700million barrels on to the 2c as well on top of all this.... With a sidetrack well projected to cost $5m to drill and return 14,000boepd you can quickly see here how PVR could be trading back at £500m valuation down the line. So I think on PVR securing farm in on Barryroe (assuming for 50%) I see 52p/share fair value and that is using a very conservative metric of $3/bl 2c. Hence I am continuing to pile in here under 10p. Given how few are posting here the market is yet to cotton on here which is providing a cracking opportuntiy to the early movers here. The above vaulation also ignores all of PVR's other assets and as we see Total now chosing to exercise their 35% option in the Druid/Drombeg its looking likely another drill will be happening there at some point also otherwise why exercise it! The cash position here is really what makes this a no brainer, LOGP will have to raise at some point shortly IMHO which I hope to piggy back on if retail get any. PVR on the other hand has bags of cash so 0 chance of a raise if farm in occurs. GLA can see a huge run north coming here the next 6 months, wont happen over night.

Great upside here should farm in happen. The only thing making me move my money across to PVR here is that LOGP will need a raise at some point whereas PVR has circa 42m euros in cash, 80% Barryroe and valued £55m. I still see 10bag potential here just I hope to reenter on the back of a raise should it happen. Keeping the powder dry atm. Either way Barryroe is such a beast of an asset holders in both companies will do exceptionally well in 2018 all being well. Assuming 50% farm out would leave LOGP 10%, PVR 40% id say is a likely scenario where majority of drill costs are covered. Still 30mmbol net to LOGP which is worth £70-90mln MC vs the current....

"BARRYROE, North Celtic Sea Basin (SEL 1/11) Farm-out discussions continue Period of exclusivity granted to a potential farminee Extension to the 1st phase of SEL 1/11 to July 2019 and overall license extension of 2 years to July 2021 New 3D seismic uplift provides significantly enhanced visualisation of Barryroe reservoir interval Planning and consenting underway for 48/24-K well and sidetrack Well location agreed by JV Rig procurement process underway Project Manager appointed" Note the last 3 buller points.... to me the farm in sounds like a formaility....

Broker valuations of the Barryroe asset have it valued at between £400m and £1b net to PVR Market Cap.PVR used to be trading £450-700mln on the discovery. 5 years+ of lying dormant waiting for farm in the market gradually attributed 0 value to it. We will start to see market pricing some value back now talk of multi well drill program H2 18. Priced at around £10m currently. Why no farm in till now I see some ask? They had all but secured one many years ago but it fell through last min. PVR laden with debt were going to go into administration so majors were just waiting to pick up the asset on the cheap Also combined with OP crash.PVR managed to get a big fundraise away back in 2015 which foiled that plan. Now drombeg was a duster it moves Barryroe FI to the forefront and main focus now. Oil price recovering and drilling costs never been lower relatively. The extremely favourable market coniditons make it now a huge opportunity. 2016 and 2017 were consecutively the lowest oil discoveries globally so perhaps majors looking at a proven resource to get things fired up again.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PVR&ArticleCode=uolkd3vz&ArticleHeadline=Providence_Resources_plc__Barryroe_Well_Successfully_Flows_Oil_and_Gas "We are pleased to report flow rates of 3,514 BOPD which materially exceed our stated pre-drill target of 1,800 BOPD. The well has also confirmed that the basal sands are laterally continuous, highly productive and that the oils are of a very high quality." http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PVR&ArticleCode=y80liys1&ArticleHeadline=Providence_Resources_plc__Barryroe_Well_Test_Analysis_Confirms_Productivity_Potential "Providence has completed further analysis of the 48/24-10z well test data which were acquired by Schlumberger during well testing operations. The data were analyzed using a leading wellbore modeling software system to determine the potential Initial Production (IP) rates achievable from a single horizontal development well. This analysis indicates that the tested basal oil bearing sandstone package is of high quality with an average test derived permeability of c. 400 millidarcies, confirming the high productivity potential as demonstrated during the well testing operations. The analysis forecasts that a 1,000' horizontal well could deliver an IP of c. 12,500 BOPD & c. 11 MMSCFD (c. 14,300 BOEPD) through a standard 4.5" outer diameter (OD) production tubing under natural lift." http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PVR&ArticleCode=thfwf7dz&ArticleHeadline=Barryroe_Oil_Field_Technical_Update "The total combined audited gross on block 2C recoverable resources at Barryroe therefore amount to 346 MMBOE, comprising 311 MMBO and 207 BCF."

Crazy thing is you could 5x the MC with relative ease on current fundamentals. Appraisal for a possible further 700mmbol. Already confirmed commercial discovery. Barryroe has always been the flagship asset here its been lying dormant for so many years waiting for a farm in partner that the market eventually priced it at 0. Farm in is game changing and looking very likely now, huge upside nailed on

42million euros in cash, no debt, 277mmbol net 2c with potential multi well farm out to appraise ... 50 mcap. Nuts

Agreed. crunch the numbers. Nice little comparison with JOG... its headed one way as market starts to price in some of Barryroe (277mmbol net to PVR 2c that flowed 4k bopd).

Some real sour grapes turning up here its quite hilarious they really havent done any research. Anyone can piece together misinformation and try and link it but its just pure manipulation of the truth. Failed to read a paragraph in the last rns.. "Better imaging from the 2D data reveals that the known source rock intervals are likely to be within the oil generative window and this, combined with data showing repeating oil seeps along the faulted flanks of Gemsbok, has greatly improved the chance of a major oil discovery. " Cross comparisons with oil drills drilling in to a compleyely different source rock geology is just amateur oversight. Youre going to have to do a lot better than that... valued fair whack under cash at the moment too... EV here at even say £10m would put the SP at 8p.... and thats what I expect on farm in with the 2d. Run along.

market sentiment here in tatters due to two dusters. Valued at little over cash currently meaning crazy upside on offer now Barryroe is back in action after many years being dormant hence market pricing it at 0. Reminder PVR own 80% of Barryroe.. 300mmbol commercial discovery that flowed 4000bopd. What you have is 240mmbol of *contingent* resources net to PVR for an EV of less than £10m currently with Appraisal to be drilled likely H2 18.... crazy. Early positon takers will reap big reward here.

#LOGP a crazy upside proposition. Barryroe drilling looks increasingly likely now. Logp own 20% which equates to 70mmbol and its an appraisal vs MC 7M... 10 to 20 bag potential. funding and timings tho still unclear. Foot back in.

Picking a company that is trading sub cash to deramp is quite a feet... amongst all on AIM. Quite funny. People were deramping EME at 3p earlier this year in a similar fashion.. perhaps you may have been one but I managed to ride that to 12-15p. Lots are overly negative at the bottom of a cycle and overly positive at the top of the cycle. Ive made all my money on aim by doing the exact opposite of this. Be greedy when others are fearful and fearful when others are greedy. Research is key and joining dots through probing questions and emails. The directors hold 40% of the company and ceo just issued himself options a month or so ago... first time he has awarded himself options in a loong while.... I wonder why now. All to he revealed i think it wont be long...

You have spent litetally all of boxing day posting on this BB bombarding it every few mins with absolute drivvel. I smell an ulterior motive and i feel sorry that you had nothing better to do. Comparing apples with oranges. GBP has a negative EV atm. You must be looking for cheap entry but poor form. Strange sudden obsession... marked card.

Those 250k sells totalled £25k. Hardly big money now is it. One or two having been trading this and IMO someone was marginalized on a T20 trade that was hoping for rns before Christmas. All indications im getting regarding CPR are incredibly positive hence will increase my position tomorrow. Research is king and suggest Maestro you look at previous CPR release from GBP few years back...

No farm in yet as the 2d hasnt been completed. Simple as that majors will wait to see 2d before farming in. Thats the whole point. The recent 2d was a fill in survey which filled in all the missing gaps focusing on their most promising prospect - Gemsbok. Also activity and interest in Namibia offshore has never been higher than it is now moving in to 2018. Also drill costs have never been lower than they are now relative to oil price. A fraction of what they used to be in fact. Drilling a big offshore well is 30-50m usd as opposed to several hundred million 3 or 4 years back. All indicators atm are in GBPs favour, if we get a CPR that has headline numbers then well be looking at 5p to 8p per share. If not then well hey ho we are fully backed by cash and have the Italian liscencing round incoming. Risk/reward never been better here

Ill note the shoot was finally completed on 3rd of July however from my correspondence payment was prior to end of reporting period. Either way cash position atm is more than MC. I think that combined with not having any debt and the CPR upside in an area of prime real estate and huge focus of drilling in 2018 makes GBP a hugely attractive risk/reward proposition. Ill likely be adding more here tomorrow going back through my research on the prospect (Gemsbok) im convinced will be extremely large, I also have a hunch farm in wont be far away. Just a hunch mind... ECO now have a large warchest to gain more exposure in Namibia... gut feeling here is good.