Member Info for LONGWAIT

Well, Mr Traynor said during his interview by Malcy that the alternative to selling TE-5 would be to raise cash to develop it and that that would not be a problem.

Does that sound like a company twelve months away from calling in the receivers?

SOU obviously had enough cash to last well beyond 12 months, yet raised another $3m.

I know posters criticised the cash raise, but if SOU can raise cash, does it look like a company which in twelve months' time will be insolvent?

'4 failed drills later, a company on the verge of trading insolvent in 12 months time, '

Does anyone else actually believe this?

I think I saw him yesterday, when I went swimming; he was wearing flippers and a snorkel.

The funny thing is that he was walking past me in the street as I was on my way to the pool.

I have just made my first investment in EOG.

The remittance notification means that the money is on its way but won't land in PVR's account until tomorrow.

If regulatory consent is now withheld, that would certainly put the cat among the pigeons.

Two down; one to go.

Wish I had bought some more for 7p.

It's interesting that some posters had actually been saying that APEC would never pay and that the Irish Parliament would in any case prevent the deal from going ahead.

I've got used to all the predictions of doom on LSE by now.

My impression after five years is that most posters give up and can't last the course because there are so many pitfalls along the way.

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.

http://www.globenewswire.com/news-release/2019/07/08/1879234/0/en/Providence-Resources-P-l-c-Update-on-Barryroe-Farm-Out.html

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.

http://www.globenewswire.com/news-release/2019/07/08/1879234/0/en/Providence-Resources-P-l-c-Update-on-Barryroe-Farm-Out.html

To Manyana and Eyeore2:

I think you have both misunderstood the point I was making.

First, I was well aware that Deeper Barryroe could hold enough to double the present estimate of 311 mmboe ( I think that was Jimmy's estimate on ii some time ago) but I'm not sure I had heard that it could be 1 bboe.

As far as I can remember, I read many times of one deeper layer, rather than two.

Secondly, I was aware of the 1 bn - 1.6 bn estimate, but I thought that was referring to 'Shallow' Barryroe and possibly an earlier estimate of oil in place and that the 311 figure is the definitive one.

Are you sure that the 1 - 1.6 billion figure is referring to the whole depth of Barryroe - i.e. the three layers?

If so, then 1 bboe looks feasible.

"James has said he is committed to stay until the completion of the monetisation of either the whole company or the asset at Eastern Tendrara."

That implies that he hasn't decided whether to stay on after Tendrara is sold.

Has it not occurred to you, STZ, that many of us are conserving our spunk during these exciting times, in anticipation of the longed-for consummation of a takeover of our Tendrara assets?

You mean it's possible that Deeper Barryroe could contain double what has so far been found?

I don't think have never heard an estimate that high before.

By the way, I think the current estimate is 346 bboe, when the gas is included.

Think for the links, Wraith.

I noticed that Mr McKay mentioned - in both interviews - ENI's planned survey of a prospect in South Dunquin.

I believe that's one of PVR's prospects.

Nice to meet you here, Wraith.

I have two thoughts: 'is the 2015 valuation still credible?' and 'how much would the additional three assets add to the valuation?'

It seems AIM doesn't find any of it credible yet.

You started the argument.

It was you who used insulting language.

It was you who started arguing about correct use of English and mathematical competence.

The LSE platform has a facility which invites members to view other members' posts on any company.

I used the facility and it shows you have a history of posting both uncivil and ungrammatical comments.

As for your calculation, it does not take account of the change in the exchange rate.

I was trying to start a discussion about EOG's possible current valuation based on a valuation I found online, which I knew to be out-of-date.

Instead of responding normally, you've made unfounded insinuations about my linguistic and mathematical abilities, and employed insult and sarcasm.

We could have had a sensible discussion, but you prefer to attack posters instead.

It was my first post on EOG.

Quite a welcome!

You started this argument, as you well know.
You want to end it now because you know you lost it.
Contrary to your assertion, I did not misspell the word 'honour.'
I am using a computer with an American English predictive text facility, which predicts words like criticize, color and honor.
The fact that you ask me to re-check my calculation when you cannot offer an alternative figure says much.
Here are two recent posts of yours.
The first contains insulting language on the first and fourth lines and a grammatical error on the second.
The second contains two grammatical errors on the second line.
02 Jul 2019 22:19
I'm sorry Ninetails, but you just come across as a bit of an idiot. You 'had' shares, and someone has bought your shares, but you appear to still have them. You think the share price has spiked and that new investors should be warned but you're not deramping! As I said...bit of a pillock really.

24 Jun 2019 19:12
DB is chairman.

I'd be quite happy if there was no merger. Union Jack can become a mid tier producer in it's own right,

I know you're still trying to insult me, but having insinuated that I can't do mathematics, and having yourself failed to figure out how the figure of 280 p per share was arrived at, you are now insinuating that there is something wrong with my command of the English language.

Can you actually point out any grammatical errors?

$ 1.6 bn / 445 million shares / exchange rate of 1.27 = 283 p.

Thanks for your reply, but like so many posts, it doesn't make much sense.

Are you referring to the fact that EOG have been reported to have six assets?

Are you saying that you think it is worth more than 280p per share?

'EUROPA Oil & Gas’ share price was given a boost yesterday after the firm announced that its 15 per cent stake in three assets off the coast of Ireland have been valued at $1.6bn (£1.02bn). ..
Shares rose around eight per cent in early trading, before settling to close 3.1 per cent higher at 8.38p.'

https://www.cityam.com/europa-oil-gas-powered-1bn-valuation/

I make the valuation about 280p per share.

With a share price of less than 3p, it would appear that the market doesn't believe it.