Member Info for ps200306

PNE79: "If you are purely interested in hard facts then don't bother logging on, simply read the official company announcements and try to cheer up ffs."

There's useful information that's not quite in the "hard facts" category. Then there's all the backbiting, voodoo chartism, uninformed speculation and all the other stuff around here that doesn't really add to the store of useful knowledge. I was just encouraging more of the former and less of the latter. Ciao.

PNE79: "wild speculation ... it does seem ... could it be ... cant say for certain ... I'm guessing ... Could it be ... I cant remember ... "

There -- trimmed it down to the essentials for you. If only we could do the same for the whole board, the odd rare nugget of information would be easier to find.

Excellent to see you back, Sobeit. I'm going to take it as a good omen that both you and PVR are showing signs of life after a long time in the doldrums. Happily I managed to average down to something sensible, but unhappily I also whiled away the dreary hours by buying SOU near peak. Though even it could be on the cusp of a surprise resurrection. I guess it *is* often uttered twice: ... mañana, mañana.

Steady on there. If this stock soars tomorrow it could hit half my breakeven price. And leave me down only a medium six-figure sum instead of a large six-figure sum. Since that would be too good to be true I can only assume something else is waiting in the wings, like Sterling turning to toilet paper. Good thing I'm an optimist :-/

This BB is no longer worth reading, even for the odd insightful comment. I thought things had taken a turn for the better when I pointed out that MoroccoKnows' diatribes were a silly percentage of total posts. He mercifully stopped posting, but others have stepped in to fill the vacuum. There's usually a flurry of good discussion after an RNS. The rest of the time, the board isn't worth the time of day. If any moderators ever read this content, please take note. You're losing potential customers by not stamping out this nonsense.

What a load of cack! The Irish Strategic Investment Fund is the successor to the National Pension Reserve Fund, which all got spent in the last downturn. They've just renamed it to something that won't sound so catastrophic the next time we empty the coffers. This divestment stuff is just cheap virtue signalling.

Independants did well in the last two elections and achieved nothing, except independent parish pump politics to replace the party version. There certainly won't be enough of them next time to prop up an SF government. Not happening anytime soon. No matter how much they dislike each other, FG and FF would close ranks to keep them out.

I'm surprised nobody has commented on the TO'R remarks buried at the bottom of the RNS. He mentions "the site survey permission now being the subject of legal challenge, ** combined** with delays with the site survey vessel arriving in Irish waters". Does it not seem plausible there's been some logistical screw-up with the availability of the survey boat, and the re-application for the permit is just a convenient excuse to cover up some sloppy management? TO'R conveniently omits to mention the relative magnitude of the two sources of delay.

I'm not too exercised about it, but it does remind one that there's always room for more surprises in PVR's handling of its assets. I've given up expecting any return from this share until oil is flowing, has been delivered to real live paying customers, and all the cheques are cashed.

woode: "197 bcf = 33milion barrels of oil =$2 billion =£1.6 billion value of asset."

Your conversion from gas to oil equivalent is based on *energy* value, not dollar value. US spot price for gas is less than half the price of the energy equivalent in oil. And that's with a recent huge surge in gas prices and fall in oil prices. Recent norms were for gas to be one fifth the value of oil.

Nope

Way under water with SOU and swore I wouldn't buy any more. Also oil price down 12 days in a row, longest run in history, and O&G generally getting hammered. But all the pointless bellyaching on this board has been driving me nuts, so just to be contrary I took 60,000 more this afternoon @25.9p. Fifty minutes later the TD RNS arrived. Must be an omen. Now just gotta see if it's a good or bad one ;-)

Dingdangdo, many thanks for the vid ( https://youtu.be/s5ZQCRRZzXE ). I remember now I did watch it at the time. For some reason I imagined all that fancy frac sleeve stuff was higher tech than Sound would be using. Don't know why I thought that.

Suppose we're lucky enough to have success in both TAGI and Paleozoic... can they flow test them separately? How is that done -- is there a plug between the two zones so that they can be selectively closed off? Or is the only info from gas shows on the way down while drilling?

Thanks for the vids Crudehope, Panther53 et al. Nice footage from TE-9. Couple of additional details at the Q&A about gas sales and "Plan B" that I hadn't heard before. Thanks again, much appreciated.

If you want to get religious ... It is WELL ;-)
https://www.youtube.com/watch?v=5ovnm-gzLfs

Dadsbatty: "I imagine you’re one of those guys who send a strongly worded email when you notice Luke skywalkers nostril hairs change colour mid scene."

LOL. No, I'm really not, but the earth turning the wrong direction really does stick out like a sore thumb, which takes away from the professionalism of the vid.

Shaungreen47: "FFS. Why anonymous posters feel the need to prove how clever they are to other anonymous posters I have no idea."

LOL again. It was only a minor point. But I can see why someone over on iii the other day said that this board is "like a bitchy knitting circle". Some of you really should relax a bit. We can all learn from each other. Peace out.

@sreadman: "If you look closely at the start of the video it is obviously intended to be a satellite coming around the earth. You can tell this by the background stars etc and the relative speed and sweep of the camera compared to the earth. This in turn would give the illusion that the earth was spinning in the opposite direction. Also satellites travel from west to east in the northern hemisphere, therefore it could be argued that the video is technically and visually correct......."
I understand what you're getting at but you've missed the point -- it's nothing to do with the camera's-eye-view. That's why I didn't mention the intro sequence (even though there are some wrongly moving shadows there too). In the outro sequence the earth isn't visibly turning at all, so we presume the camera view is co-rotating with it. That's ok. The problem is that a shadow is moving across the globe and city lights are coming on to show us that this is the advance of the day/night terminator. It's moving the wrong direction -- west to east instead of vice versa. Hence the earth is rotating the wrong direction.

The vid looked very professional until the closing scene at 4:55. Then THE EARTH ROTATES THE WRONG DIRECTION, with the shadow advancing from west to east. I've no doubt Sound's geophysics is more clued in than the PR department, but it looks pretty naff. ;-)

I did a quick analysis of the last 5,000 posts on this board. Well over 300 different people posted, but just 12 people posted 40% of all the comments. And of those, just one poster was out in front BY A COUNTRY MILE. I would say the vast majority of people on here would correctly guess who that was but, if you need a hint, a very sizeable fraction of this person's posts consist of bitchin', whinin', nitpickin', and taking everyone else's posts as a personal affront. I have mentioned no names, so if anyone recognises themself ... well, consider this a public service announcement. You're welcome.

I also bought in during summer 2014, around 140p. The share price had already fallen 80% from its height. I think few would have guessed it was going to fall another 95% from there. TOR has several times put out the revisionist story that the Barryroe farmout was derailed by the oil price slump of 2014. But the problems with Barryroe were ongoing long before that. I am no expert, but a poster in another forum speculates that Providence failed to do the work necessary to show that the Barryroe oil was not compartmentalised. That omission was only recently addressed by high resolution seismic.

As for Providence preferring farmouts to equity raises, that's also rather revisionist. There has been plenty of equity dilution and the only reason it has gone no further is because TOR is on his last roll of the dice. There's no way the market would have supported another raise. For myself, I averaged down all the way to 18p and was stunned to see myself in the black for a while this afternoon, for the first time in four years. Nevertheless, this is one that I will be watching with gritted teeth. Delighted to see Barryroe take shape after all this time, hoping that it's beyond PVR's ability and remit to make a mess of it, and would love to see them get taken out at a decent price after drilling success. To anyone even longer suffering than us 2014 johnny-come-latelies, I can only offer my commiserations.