Member Info for Jarv55

Buys coming in now

Logp throwing a tantrum by the looks of it
Non-Receipt of Funds and Extension of Backstop Date As of the close of business yesterday, no funds had been received in the Company�s account and the Company has not received any additional paperwork from the APEC funder nor its corresponding bank as to verify the actual transfer of funds. However, the Company has been given assurances that the transfer process is underway, but as of last night was not complete. The Barryroe Partners are seeking immediate clarification from APEC�s funders and its banks on the precise status of the transfer. Accordingly, to facilitate this, the Barryroe Partners have agreed to extend the backstop date to close of business on Friday, July 12, 2019. Should EXOLA and Lansdowne either not receive the required funds or adequate evidence that the transfer will be processed as a matter of urgency, the Board do not envisage giving any further extensions to the backstop date.

Yea I get it you are a winner

https://www.lse.co.uk/profiles/antofelli/?page=2

Very obvious you are one of Hogans pals the board are crooks end of says more about you for supporting them. The other side are trying to put things right here and get the company back up and running.

Squeaky bum time Non-Receipt of Funds and Extension of Backstop Date

As of the close of business yesterday, no funds had been received in the Company's account and the Company has not received any additional paperwork from the APEC funder nor its corresponding bank as to verify the actual transfer of funds. The Barryroe Partners are seeking immediate clarification from APEC's funders and its banks on the precise status of the transfer. Accordingly, to facilitate this, the Barryroe Partners have agreed to extend the backstop date to close of business on Friday, July 12, 2019. Should EXOLA and Lansdowne either not receive the required funds or adequate evidence that the transfer will be processed as a matter of urgency, the Board do not envisage giving any further extensions to the backstop date.

https://www.dropbox.com/s/wnuv67qg3tn1xy0/Zorbas%20after%20BOD%20left.mp3?dl=0
Worth a listen blaming Hogan for not Tr1ing

How long do bank transfers take?

https://www.dccae.gov.ie/en-ie/natural-resources/topics/Oil-Gas-Exploration-Production/environment/statutory-consents/current-applications-for-statutory-consents/Pages/Application-for-site-survey-by-Exola-DAC.aspx

If they get the funding today the rns should come tomorrow or could be intraday

why do people take this as a negative? They have no cash just debt lots of debt the bod are racing against the clock now and as yet they haven't produced one binding contract.

Ajed this forum is for information it may seen repetitive to you as you have read it all before,I get that but to new investors who notice the rise on the leader board and have a peak it can be valuable, I have emailed the company today for an updated brokers note as the one on the website is out of date with the changes that have happened.

Ajed wasting what space? There are 21 posts hardly a busy bb is it?

Tidd I know that is why I said a major barrier has been removed. This has been battered down due to that.

Following the recently completed Farm-out, the Barryroe Licence is held by Lansdowne (10 per cent), APEC (50 per cent) and EXOLA (40 per cent).

Part of the Barryroe acreage lies beneath the Seven Heads Gas Field, with the boundary between the two concessions lying at 4,000 ft (approximately 1,250m) sub-sea.

The reservoir sands in the Barryroe Field lie in the Lower Cretaceous Wealden sequence.

The original discovery well on Barryroe was drilled by Esso in 1973 – 48/24-1 and this tested oil at an aggregate rate of 1300 barrels per day from the Middle Wealden.

An appraisal well drilled by Esso in 1974, 48/28-1, tested oil from a Middle Wealden sand at a rate of 1527 barrels per day.

A third well, 48/24-3, drilled by Marathon in 1990, tested oil from the Basal Wealden sand at an aggregate rate of 1619 barrels per day.

Lansdowne participated in the successful appraisal well 48/24-10z drilled in 2011/2012, which tested at a much better rate of 3514 barrels per day from the Basal Wealden sand. The oil is light, 43 degree API, with a wax content of c 17%.

Just had two major barriers removed just waiting for the funding to land tomorrow and the licence and its all systems are go. Buy the dips.

Outlook

We had thought that 2018 was the year that Lansdowne finally turned the corner with the signing of the Farm-Out Agreement for Barryroe which was expected would lead to a comprehensive appraisal programme on this substantial oil and gas accumulation (346 MMBOE 2C Resources).



Unfortunately, however, regulatory delays in the permitting of the site survey operations and delay to the delivery of funding to EXOLA as called for under the Farm-Out Agreement, have delayed the Drilling Programme.



A wider threat to all oil and gas activity offshore Ireland is posed by the Bill put forward in the Irish Parliament that effectively seeks to block the award of any new hydrocarbon licence arrangements. The debate on this Bill is continuing. The concept behind this measure is to address carbon dioxide emissions and thus Climate Change.



Whilst recognising that we are in a transition from dependence on fossil fuels to a future where renewables will become the dominant energy source, all projections indicate that we will continue to require fossil fuels, especially gas, for many years to come.



The Bill that has been tabled would, if passed, not result in any reduction in emissions and would leave Ireland entirely reliant on imports for its hydrocarbon requirements.

8 July 2019

Lansdowne Oil & Gas plc

("Lansdowne" or the "Company")

Standard Exploration Licence 1/11

Barryroe, North Celtic Sea Basin

Operational Update

Lansdowne Oil & Gas plc (AIM: LOGP), the North Celtic Sea focused, oil and gas company, notes the announcement today by Providence Resources P.l.c. regarding Barryroe, which reads as follows:

Update on Barryroe Farm-Out Transaction

Dublin and London - July 8, 2019 - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Energy Company ("Providence" or the "Company"), today provides a commercial and operational update in relation to Standard Exploration Licence ("SEL") 1/11 which contains the Barryroe oil accumulation (the "Barryroe Project"). SEL 1/11 is operated by EXOLA DAC ("EXOLA" or the "Operator", 40%), a wholly-owned Providence subsidiary, on behalf of its partners, APEC Energy Enterprises Limited ("APEC") and Lansdowne Celtic Sea Limited ("Lansdowne", 10%). The area lies in c. 100 metre water depth in the North Celtic Sea Basin and is located c. 50 km off the south coast of Ireland.

Background

On June 5, 2019, the Company announced that it had agreed certain amendments to the Farm-Out Agreement (the "Updated FOA") for the Barryroe Project with APEC Energy Enterprises Limited ("APEC") and, together with EXOLA and Lansdowne, the "Barryroe Partners", including a revised backstop date with APEC for receipt of the US$ 9 million loan advance to June 14, 2019. On June 17, 2019, the Barryroe Partners agreed to a further extension of the backstop date to no later than July 5, 2019. Pursuant to the terms of the Updated FOA, this US$ 9 million loan is to cover the costs associated with front-end well-site survey operations and pre-drill well consenting.

Receipt of Remittance Notification

Providence has received a HSBC remittance notification dated July 5, 2019 from APEC's funder for the transfer of US$ 10 million in favour of Providence's bank account in Dublin with a payment date of July 9, 2019. Of the US$ 10 million, US$ 9 million is to cover EXOLA front-end and pre-drill costs with US$ 1 million to cover APEC costs. Therefore, a backstop extension to July 10, 2019 has been agreed with APEC to allow for the receipt of funds. A further update will be provided in due course.

3p easy on funding tomorrow

Really interesting to see the lowlifes are back posting. https://www.lse.co.uk/ShareChat.asp?ShareTicker=RMS&share=Remote-Monitor

Well said Y-Alam lets keep it civil. I will put it another way do you think 4.5p is a good take over price for a company producing 20k barrels of oil per day?

Luckcounts. Lets say everything goes to plan and they finalise the jv and get the funding and lets be conservative and say they don't get that other licence back would you say its worth more than 4.5p?