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I can see why PP would take it on. I can't see why McCoss would join. Surely he is busy enough with all Tullow have going. Wishful thinking to think he was just getting a look under the bonnet for them!
I would agree in thinking that news already being factored into the price. I'm sure it may be used to drive it down further but it's priced in. My reading of the drop on Tullow is that it based on these finds not being developed due to either heavy oil, sulphur etc or the fact that better finds will push this down the list. We await those so we are back to where we are pre drill for both with factoring in the production miss for Tullow driving it down beyond its end of year low this time last year.
It's an uncomfortable waiting game but I believe this block has vast potential.
I think Gill was already trying move on from this find in more recent times and shift focus on to Carapa and 2020 drill schedule. Given that they haven't released details of sulphur, in my opinion it's safe to assume it's bad. Maybe not as bad as that article though. Let's hope Carapa is good news. I'm reasonably hopeful.
Elgin, tell us how you know I'm not invested?? I wish I wasn't at this stage BTW! : )
Also, your profile and relatively recent joining date follow a similar pattern to other posters I've seen posting here. I hope you are not ramping? ; )
You are right there is an element of damned if you do...and he does owns a very sizeable number of shares already. However, he was lauding these shares a matter of days before they collapsed. The lack of information about it being heavy oil left a bitter taste with many investors. In this context I'd have expected him to dig a little deeper into his pockets.
Open to correction but is that not an uncrossing trade?
Interesting to hear what people think the next few months hold if we assume PVR is funded until end of February.
Will it go down to the wire again in the negotiations for a partner or they conclude before that if TOR previous talk of other interest is true?
If they fail, do they do another fundraise and keep looking for a partner?
Do they sell the asset altogether, pay a special dividend and wrap up the company - how much is Barryroe worth in this situation?
Do they do a deal with multiple partners?
Will TOR be kept on?
It's more a couple of paragraphs as part of a round up of Irish Shares in the Phoenix annual magazine rather than an article.
As mentioned above it states TOR looks bad maintaining salary whilst facing possible bankruptcy.
"Huge potential here but it is a complex field and needs careful attention. Nevertheless, in the right hands Barryroe could prove a real gusher"
"APEC appeared to O'Reilly Jnr to have strong links to some of the giant Chinese oil companies, but these only ended up being tenuous ties, whilst APEC itself was of little substance."
"The CEO's belated realisation came as a real shock to him and his traumatised shareholders"
Paraphrasing summary - Find new CEO, start to monetise Barryroe. Potential huge, could be worth many multiples of current price but "only a share for the brave"