Member Info for LONGWAIT

I agree with you entirely, Dickupham. I felt the same way on the HUR BB when there was endless discussion about the share price and most people seemed uninterested in the end game. One prolific poster summed up this attitude when he reported, 'Anyway, I'm out.'

'Jersey said in a statement on Friday morning that it believes Statoil will suggest further appraisal and exploration drilling in order to better define the prospectivity and commerciality of three key prospects - namely Verbier, Cortina and Meribel.' Will the recent placing and open offer cover the cost of Verbier only?

Well, after buying shares in October last year, Pat Plunkett is sitting on a paper loss of nearly �60,000, so I suppose he may not feel like taking another chance just yet.

I was going to point out Jimmy's post myself. He was I remember, a long-time sceptic about Barryroe. The question, which he used to ask, is still unanswered: if there is nothing wrong with Barryroe, why is PVR having to go it alone?

Yes, Rocklawn: the shares do look cheap, but they looked cheap when I bought them at 140 p in 2014, at 25 p when the institutions piled in, at 12 p when they did so again , and at 5 p after the Drombeg failure. Who knows where the bottom is?

We don't actually know for sure that there is gas in Newgrange or oil in Avalon - do we? Remember the 5 bn boe in Druid/Drombeg?

If PVR plan to drill Newgrange in 2019/20, does that mean they are counting on securing a farm-in?

How much would it cost to develop Helvick, who would pay for it, and why ha it not been done until now?

I agree, but the drill could be 18 months away, so there is no hurry. http://www.proactiveinvestors.co.uk/companies/news/186465/providence-resources-details-new-barryroe-drill-programme-186465.html

This report implies that the cost to LOGP is about. $5m: http://www.proactiveinvestors.co.uk/companies/news/186465/providence-resources-details-new-barryroe-drill-programme-186465.html

Well, if you're right, then the majors must have real reservations about Barryroe. The question then is whether the drill will overcome them.

Can someone explain how the Barryroe drill can go ahead unless LOGP somehow finds the cash to pay its share of the costs?

What incentive does any company have to farm in to Barryroe when PVR is paying for the next drill? They may as well wait for the result.

What incentive does any company have tqfarm in to Barryroe when PVR is paying for the next drill? They may as well wait for the result.

As I have been saying for many months, the share price will take off when company news justifies it. Remember, I predicted correctly that it would not breach 20 p on excitement alone about Druid/ Drombeg. Had either drill been a success, the price would have soared. I don't know whether good news from Barryroe drill would help much. I think successful drilling at Avalon or Newgrange or a farm-in to Barryroe would do the trick. Otherwise, it won't happen.

In the event that the joint venture partners agree to convert LO 16/27 into a Frontier Exploration Licence, and a subsequent decision is taken to drill an exploration well, Total will pay 60pc of the drilling costs, subject to a gross well cap of $42m. Who will pay the remaining 40 percent?

Since when is Newgrange part of Barryroe? Barryroe is scheduled to be drilled in 208/19 and Newgrange in 2021. It seems to me you guys have been speculating about a farm-in to Barryroe. I hope there is one, but now that PVR have decided to pay for the drill themselves, why would anyone save them the expense?

Are you talking about Newgrange?

My question is, Wraith, do PVR intend to go ahead with Newgrange even without a farminee? I'm not sure they can afford to. If not, why have they scheduled it before Avalon, for which they have a yet-to-be-confirmed farmout.?

Are you referring to Newgrange?