Member Info for LONGWAIT

Are you sure about that?

The last RNS announcing an extension did not state that it would be for five working days; it stated that it would be until today.

PVR's RNS did state that the extension expires today.

The fact that no RNS has been issued does suggest no further extensions, but on the other hand why haven't PVR issued an RNS announcing that there will be no further extensions?

I have a feeling there could be an RNS either late today or first thing tomorrow.

I agree that Druid and Drombeg was an unnecessary diversion, but major shareholders were urging PVR to give it priority.

When you say it cost PVR money: I thought PVR made money from the deal.

It's a pity that priority wasn't given to prospects where oil had already been found.

... but I'm sure PVR would settle for 40 percent of €45 billion , i.e. €18 billion.

Well, I just calculated 40 percent of your figure of $12.6billion.

I wasn't saying PVR would ever get their hands on that uch.

I remember when the JOG share price was in the range 57 - 76p.
Posters were in despair, asking 'why don't the directors say something?'
One poster said it was obvious from their silence that the management didn't know what they were doing.
TSD, of course, was in his element, predicting a fall to 30p, followed by a placing.
First, JOG received 3p per share in a legal settlement, then an investor took a 9.8 percent stake, and then the price jumped from 73p to 220p in one trading day.
In my opinion - and it's in the LSE database - JOG was ridiculously cheap with 60p per share in cash and a minimum of 25mmboe recoverable discovered, worth more than 200p per share.
Many posters were implying that the oil wasn't even there.
I have similar views on HUR and SDX.
Many posters are convinced that a company with a low share price must be in trouble.
The truth is that these companies are ridiculously-undervalued.

97.5 p per share would give me a profit of 200 percent.

That's a failure I could live with.

There's no alternative, JTF: you'll just have to drown all that spam fat in Champagne.

Could you tell me where I can find the figure of 17p per share cash, Littlened.

That equates to £35 m, I believe.

What you say about a bad deal makes sense, Manyana, but based on your calculations, the full development of upper Barryroe would be worth $5 bn to PVR, assuming PVR stayed around long enough, which I suppose is unlikely.

That's better than nothing.

I don't think it's all TOR's fault, though, that Hook Head has not been developed.
Shareholders were begging him to drill Druid and Drombeg, which turned out to be full of water.
No-one was begging him to develop Hook Head.

I too was surprised by the comment about 'a credible basis for survival.'
Talking of survival, I took a look at SDX's figures at:
https://www.edisongroup.com/company/sdx-energy/2457/
and it is curious that the share price has hit a new long-term low of 17p, even though Edison estimate EPS next year of 6.4p and, since then, it has made a modest discovery which should increase that figure.

It's another profitable company on a derisory rating.

Well, S/O, I suppose the big question is: what value would a potential bidder attach to the 20 TCF potential recoverable gas?

If 100 p per share is a reasonable valuation, it seems hardly possible we would be offered less than a third of that - 33 p.

Is your valuation based on an estimated 20 TCF in Tendrara, S/O?

Estimated EPS for 2020 are 6.4 ...

I forgot to mention that SDX too has put itself up for sale.

How about this, Maldini?
SDX's latest valuation by Edison is down from 86.5p per share to 49.8p.
They have announced a modest discovery since then, which must lift it.
Yet the shares are 17p to buy, with a market capitalisation of 34m.

'a risky play,' he says.
I think we have known that for a long time.
If the transfer doesn't clear next week, at least we can lay to rest the theory that its clearance depended on regulatory approval being granted.

Gracias, Manyana.

I see that the plan is to farm out Hook Head.

The latest information I can find, Manyana, is

Providence Resources plc: Providence Resources P.l.c. - 2018 Trading Update
OTHER LICENCE ACTIVITY

Hook Head, North Celtic Sea Basin (SEL 1/07) - subject of a Lease
Undertaking application

https://www.bloomberg.com/press-releases/2018-12-28/providence-resources-plc-providence-resources-p-l-c-2018-trading-update

SEL 2/07 was awarded to the Company and its partners in 2007.
Hook Head has had four wells drilled on it, all of which have logged hydrocarbon bearing reservoir intervals. Hook Head has audited recoverable resources of c. 35 MMBO (2C) in the drilled central part of the stucture. The Company has made an application for a Lease Undertaking for Hook Head to allow the partners to evaluate innovative methods to commercialise this discovery with third parties. The current working interests in Hook Head are Providence (72.5%), Atlantic (18.3%), and Sosina (9.2%)

http://www.providenceresources.com/ireland-celtic-sea-basin-sel-207

Pat Plunkett did remark that he hasn't realised that PVR had so many prospects.