Member Info for JH77

I agree with you that we can take it as worse case that PVR and Lansdowne only lose 50% of their interest in the asset. Have a nice day y'all (as we say down in Texas)!

Mbev...I like the general thrust of what you are saying here; trying to stop posters from over egging the potential share price uplift. There are one or two points where I think you are being over conservative. (1) If we get a free carry through to production then capex costs must surely be minimal. (2) I am not sure when the 25% goes to 40% but surely production will have rampedbup to 100,000 bopd by then.

I'll go along with that!

I reckon I've used up my quota as well. No point in being repetitive and discussing endless scenarios. Time to just sit back and see how events pan out.

Seem to be a few of these about this morning....if trades showing the right stuff. Rather surprising with all that's going on in the background.

(Oops...hit the send button too early). Anyways, to continue. A successful farm out would certainly lead to a massive rerating here. In fact, probably the most lucrative scenario for holders would be a buy out of LOGP at a decent price. This in turn would lead to PVR shares getting a very substantial rerating based on the value of their 80% interest. All still up in the air at this stage but I anticipate we'll get a positive update in the next couple of weeks. I'm currently holding a decent amount of both and presently having a root around behind the back of the sofa to add some more LOGP.

Yep....I'm already sitting on modest profit here as well. It's very strange how there is such a huge disconnect between the market cap of both companies and the net asset value based on the oil in the ground

Cheers Wraith....Interesting times ahead !

There is a good article on page 59 of today's Times which echoes your thoughts.

Seems pretty realistic to me.

I believe the number is £ 24 million.

Break it? I'm thinking of putting it on eBay to raise a bit or investment capital!

Looks like the usual Friday profit taking happening here and over at PVR. Which is taking the shine off things a bit. Could be a good chance tobpick up some more before price takes off.

Not expecting RNS today Tir....I expect that it has been a week of very detailed and demanding negotiation and probably may need both parties to withdraw and reflect on things a bit. Maybe next week or by month end? I'm still scratchin around the back of the sofa as I would like another half million Logp shares before the price blows.

It's the famous 10 trade again. No doubt somebody will see this as an omen. Har Har!

Well you can always put your money somewhere else if you don't see this as an investible proposition.

Cheers Wraith. I'm just getting used to a brand new smartphone I bought yesterday. I just posted an item on the Lansdowne board. It's too lengthy to reproduce here again and don't know how to copy and paste it across. You might find it interesting

Well yes. But even 2 dollars a barrel is a very low ball number for high quality crude. Bear in mind that oil in the ground has previously attracted prices in a range of 8 to 15 dollars a barrel.....As far a logp going bust is concerned...it ain't going to happen. The providers of the recent loan of working capital indicated that a further drawdown could be made available if needed. So neither PVR or LOGP have got their backs to the wall in this negotiation. Factor in the low appraisal and development costs currently available to get the asset up and running....Gives me confidence of a successful outcome to this and I will be expecting the SP more in the region of 25p. Especially as the Jurassic layer has not even been explored yet or factored into the above.

Id be inclined to want more. A dollar a barrel is low ball with oil price of 70. Recent estimate suggests net to logp of 76m barrels.....roughly 10% more. Factor this in and go for 2 dollars a barrel.

Ouch!