Member Info for granto

No, it’s farmor and farmee in a Farm-Out. And, it’s Farmor and farminee in a Farmin situation. The RNS is flawed

PVR occasionally have confusing RNSs, and the latest from late December is no different. In one section is says they are in discussions on a Barryroe 'FARMOUT' and in other sections it is 'FARMIN". I am guessing it is a Farmin as it is mentioned in the headline.

the words 'No Brainer' are always an alarm bell for me as I am being asked to invest without due diligence, as such when I hear those words I cringe.

To be fair to everyone here, this is not easy to price. That spike was rumour driven. That RNS is a strong one though so lets Wait

speaking of, they are not many director deals, Pat Plunkett was the last and that was 'hello' money as he had just joined the board. He may well have been given the funds to buy the shares as is often the case when a prominent director joins. either way, it's still hello money. Then we have the pre Druid investors, and then the duster, and then the new seismic in autumn, plus the Dec RNS and the Barryroe deal. Putting a value on this, I can't value the field at this time, and with little authority I would make an estimate here of between 9p and 12p, but should the RNS land with a Barryroe deal, this will push higher but nowhere near the figures dreamed up by some.

Hi JH, I haven't the time to explain to some how Market Markers function, especially people who say " the pesky MMs are playing games again blah blah'. For you sir, I am happy to assist. London is ticking over with lots of small trades, more sells than buys. IMHO, take a look at what insiders are paying and you have your range.

How can the MMs manipulate this? Can you explain? This is traded on multi platforms, With Direct Martket Access , and can be traded wothout MMs. You are talking about something you don’t realky understsnd . It is also on different exchanged . Market Maker manipulatiom os technically impassable and suicide to attempt . All agree ?

Apilogies for typos , in transit here bouncing in a car

So why a farm-in ? Plus no mention of a ‘major’? Or TOR new word ‘Super Major’. So it is a small player or TOR is really a changed man or has been warned’ no clues. Note there is no MOU here as is normal in an E Period . Maybe an RNS will fall soon but what will TOR surrendered. Would he really go it alone ? And blow all his future salary cash ? Bluff ! As for the SP? Seemed odd a C’Mas RNS , maybe the deal is very close , but i sispect no boom. Its a HOLD for me.

I'm in the same boat, Been in this years but always traded in and out without too much pain. Currently holding at 9p. I all of todays posts there was not a single one that was worth reading, it was cheering and more cheering, and hey that's ok, but it's good to have some solid god nugget of a post in the middle, and today that didn't happen. From at math point of view the collapse after Druid was overdone by several pence. I always felt about 9p is right here. todays spike could be a pump and dump, or it could be people in the know loading up. who knows. certainly nobody here today had any info, or should they. The CEO said recently he felt 300m barrels was a minimum to make it commercial in these waters off Ireland, granted this is much more sheltered than the west coast, even so. I sense a deal is being done, on a farming and not a farm out basis, and more drilling will commence. does this make this share 14p, maybe, but not for my money, enjoy the ride,

My 6 reasons for NOT investing in PVR. 1 Tony O Reilly is CEO, checkered track record closing deals. 2. Brent 30 day moving average is $61 3. Barryroe needs more test wells to prove up its commercial viability. what does 'recoverable' mean to TOR. 4. Farm-in, not guaranteed to any means. 5. £35m Cash is in burning away as investors wait. 6. The share price takeover price has got to be less that the pre druid well disaster of last summer. 10p perhaps. so, its how you dress it. M average here is 9p, what a relief, I'm actually making money. can't believe it myself. Ok my six reasons for buying My 6 reasons for investing in PVR. 1. Pat Plunkett ex Tullow Chairman, proven track record closing deals. 2. Brent now over $67, even temporarily its a good sign. 3. Barryroe looks commercial, just about, and has recoverable oil, the other projects look good, I like Newgrange oddly. 4. Farm-in, probably concluding in the next 6 weeks IMO, 5. £35m Cash, No debt. cash burn high but not crazy., 6. So I can let everyone at the Ireland home 6 nations game overhear my conversations of how I made a fortune on PVR and that I was a 'noooo brainnnner' , and the whole of Dalkey made a 'packet' on in. Haw Haw Haw.

Or do you mean share trades UT posted after hours?

After hours sellong? Does that exist on these type of shares?

I’d rather a farm-out than a farm-in. Reading between the lines this seems well advanced.

wishing you all a happy Christmas. I added to my position here this week, my reasoning is mostly around the strength of the pellet premium, and the decision to issue a dividend.

Hi, I am here too, I sold out my share holding, due to target related issues. However, I have always believed in the potential and I'm watching

Surely it woukd have made sense to run the creditr repayments from , jan 2020 to Dec 2021,

ah, on re-reading I see Jimmy was suggesting it would cost $5 per barrel to drill, and he is not valuing the oil at $5 a barrel in the ground. Ok, I see what he is saying.

I though Jimmy's post was interesting, however, I do not share his or Davy's valuation. Indeed, I would suggest the value of the 'in the ground' oil there is nowhere near $5 a barrel. That said, even at $1 a barrel his calculations indicate a buy here at LOPG. yet there is a but. the But is, no drill or farm in/out has been commissioned, and Mgt's record is far from quality in terms of Barryroe, and the biggest But of all is cashflow, or rather cash-burn. and one final But, minority shareholders tend to be the 'poor cousins' in the exploration game, especially when they are vulnerable for cash. Under this analyses I would favour PVR over LOPG even at a premium.

ome investors may be aware that I have until recently been a long term critic of barryroe. The reason is that in the Celtic sea below the seabed is a thick layer of hard chalk rock which causes an echo in seismic known as a multiple and traditional seismic processing techniques to remove the multiple also reduce the signal strength of deeper layers of rock by circa 95% . For thin sand reservoirs such as barryroe it means the reservoir cannot be traced on seismic through out the field. Because the Celtic sea was inverted by a mantle plume circa 30 million years ago this caused shallow faults known as flower faults which compartmentalised the seven heads gas field which lies at a shallow depth above barryroe . Without seismic that can directly map the reservoir potential faults cannot be seen , with the result that project finance debt would not be available to develop the field and hence no farm outs for the last five years for a field with independent reported recoverable oil of 340 m bbls in which LOGP have a 20% interest. Readers should look at the website of seismic image processing who have a track record in solving this problem and they have done so for barryroe.The results are very impressive so read the last barryroe update from pvr. Now LOGP have 20% of barryroe and they have no money and they need $5m to pay for a well on barryroe that will lead to its development. Can they farm it out. Davy stockbrokers valued an undeveloped phase 1 development of barryroe at $5.81 per bbl earlier this year. Pvr recently advised that this next well will bring 168. Million bbls into the proved c90 category. Can LOGP farm out 50% for a carry of $5 million. The well is being drilled 200 feet up dip from the last well in a field with six wells drilled to date, the well locations are at the top of the structure so ideal as production wells. Assuming an investor got half of LOGP 20% the net reserves for the investment are worth $97 m for the phase 1 reserves at $5.81 per bbl per Davy and say $1 per bbl for the follow on reserves of 172 million bbls worth $17.2 million at total of $114m for an investment $5 million. Can they farm it out with this new seismic, very definitely . The value to LOGP for its remaining 10% after farm out is $114 million or �0.168 per share compared to a curent share price �0.009 an 18.6 x multiple. The chances of success for drilling 200 feet up dip in a field with six wells and new high resolution seismic are very very high. I would estimate an 80% chance of success leading to a phase 1 field development. I have purchased LOGP shares as they represent an extra ordinary low risk high reward opportunity. I have changed my view on barryroe because the new data requires it. Jimmy24 on III