Member Info for swizz

Interesting to note that Ryan during a meeting with EU journalists this afternoon, has finally acknowledged the impending crisis in the diesel market, even the smallest of tremors in this market will bring Ireland to a standstill, with FF and FG TD’s running for cover and no doubt the blame game will get into full swing, unsurprisingly he had nothing to offer in the way of contingency plans, it’s very difficult to see him lasting the year at this rate, …GL S

Lol, old timer indeed DC, but despite me being distracted by other priorities at the moment, the belief in Jangada remains steadfast and it is very much the cornerstone of my investment portfolio, as it is with a number of people I am very close to, ..Cheers S.

Just to add further context to the U.S. & EU deal, to try & boost LNG supplies to Europe by the end of 2022 with at least 15 billion cubic meters. The bloc’s total total gas imports from Russia last year amounted to 155 billion cubic meters, so there is a long way to go and you can understand why UK and others are turning towards indigenous supplies,…GL S

March 10th - @mmcgrathtd - Ref Barryroe “I will be meeting @ProvidenceReso shortly to go through that project with them”.. “there is no prohibition on existing licences” - The clock is ticking Michael!

https://sndup.net/w5zf/

It would appear that tomorrow will be the big reveal of Biden’s answer to the EU’s search for gas, with huge quantities of fracked LNG heading to the EU to break the dependence on Russian gas supply and to ensure European stocks are replenished for the year and winter ahead,

I wonder how Minister Ryan will be able to reconcile that one with his eco virtue signalling and anti frack LNG stance, it looks as if Barryroe is going to become even more appealing to the dysfunctional and disingenuous Minister,…GL S

ps, the reports are up to date, with the last submission on January 31st 2022,…GL S

https://www.gov.ie/en/collection/5da3e-six-monthly-reports-to-the-oireachtas-on-petroleum-exploration-and-development-in-ireland/#

Bear, unfortunately patience appears to be in short supply at the moment and perhaps the history of the past has some bearing on this, but without tempting fate you do sense we are moving into a very different phase, the political dynamics are very much moving our way and the meeting with Michael McGrath in the next week or so, will perhaps provide the material step we need towards securing the lease undertaking,..GL S

Good to note the energy security debate is gathering further momentum within the political arena and the positive contribution from Barryroe is again detailed by Senator Tim Lombard, along with a number of very pertinent points,…GL S

https://www.facebook.com/voteTimLombard/videos/we-need-a-comprehensive-and-honest-debate-on-energy-securityi-raised-this-in-the/396725225597663/

Good to note the energy security debate is gathering further momentum within the political arena and the positive contribution from Barryroe is again detailed by Senator Tim Lombard, along with a number of very pertinent points,…GL S

https://www.facebook.com/voteTimLombard/videos/we-need-a-comprehensive-and-honest-debate-on-energy-securityi-raised-this-in-the/396725225597663/

I would suggest someones imagination is in overdrive, Small cap and AIM equities are being sold right across numerous sectors today and quite aggressively in the O&G sector and the audio clip is from the Neil Prendiville show on Red Fm,...GL S

The numbers associated with Barryroe are just exceptional and even when you look at the early development phase for the K site phase 1 and phase 2, which only represents circa 25% of the field reserves, it is eye popping for Lansdowne, albeit we have a number of steps to complete before we get too far ahead of ourselves,..GL S

The RPS CPR concluded that the Phase 1A development, in the P50 Case, has the potential to recover 58.3 million barrels of oil gross (11.66 million barrels net to Lansdowne), from a Best Estimate of 173 million barrels in place (STOIIP), held in fault blocks 1, 2 and 3. This development scenario involves the drilling of 5 producer wells, 4 water injector wells and a single gas-injection well, with estimated plateau oil rate production of 20,000 bpd gross (4,000 bpd net to Lansdowne), produced from sub-sea wells, tied back to a Floating Production and Storage and Offloading vessel ("FPSO").

The Phase 1A development is expected to be followed by the Phase 1B development, targeting an additional Best Estimate 105 million barrels in place in the more southerly Fault Block 4, which has the P50 potential to deliver an additional 22.9 million barrels of oil gross (4.58 million barrels net to Lansdowne). The Phase 1B development involves the drilling of an additional 3 Producer and 2 water injector wells.

The total P50 volumes estimated for the combined Phase 1A and 1B developments amount to 81.2 million barrels of oil recoverable gross (16.24 million barrels net to Lansdowne) from a Best Estimate of 278 million barrels of oil in place (STOIIP).

An economic evaluation, documented in the RPS CPR, covers both Phase 1A and 1B developments and in the 2C oil resources case, delivers an NPV10% for Lansdowne's 20% share of $104 million under a Brent Oil Price assumption of US$68 per barrel in 2027, rising to $70/bbl in 2028 and 2029 and inflated at 2% per annum thereafter. This equates to a NPV10% of $6.40/bbl. Lansdowne notes that the current Brent Oil Price is now around US$90 per barrel.

It’s very evident a seismic shift is taking place in Irish political circles,…GL S

https://www.con-telegraph.ie/2022/03/12/call-to-explore-potential-of-extending-mayos-corrib-gas-field/

Senator Tim Lombard said the matter needs to be examined in the context of considering the country's energy security and where Ireland fits into it with its own energy security policy.

The Fine Gael representative stated: "Is it appropriate or logical for us to be importing oil or gas from Russia? Is that going to be our long-term aim?

"We all know there is a renewable policy, but that will not deliver in time for where we are at the moment. We have our own natural resources.”

"We have natural resources off the coast of west Cork in the Barryroe oil field that has not been exploited.“

It’s very evident a seismic shift is taking place in Irish political circles,…GL S

https://www.con-telegraph.ie/2022/03/12/call-to-explore-potential-of-extending-mayos-corrib-gas-field/

Senator Tim Lombard said the matter needs to be examined in the context of considering the country's energy security and where Ireland fits into it with its own energy security policy.

The Fine Gael representative stated: "Is it appropriate or logical for us to be importing oil or gas from Russia? Is that going to be our long-term aim?

"We all know there is a renewable policy, but that will not deliver in time for where we are at the moment. We have our own natural resources.”

"We have natural resources off the coast of west Cork in the Barryroe oil field that has not been exploited.“

The Sunday Times article provides an overview of the farcical approach that Ryan has taken in relation to Ireland’s energy transition and highlights in some detail the challenges that Providence and Lansdowne have been dealing with, I am sure we will see more of this as the energy crisis deepens and Ryan’s failing’s are forensically exposed, ….GL S

https://www.thetimes.co.uk/article/how-ireland-is-freewheeling-into-a-possible-energy-crisis-lfn9r0xzc

A few snippets from the article..

“Since its first discovery ten years ago, Barryroe has been the great white hope of Ireland’s offshore exploration. Providence, the main promoter of Barryroe, one of the largest undeveloped offshore oil and gas fields in Europe, has encountered a litany of challenges including falling oil prices, failed talks with investment partners and a change in management. To the list Providence can now add another hurdle: a stonewalling minister.”

“Last April Exola, a joint venture between Providence Resources and junior partner Lansdowne Oil and Gas, submitted an application to the GeoScience Regulation Office of the Department of Environment, Climate and Communications, for a lease undertaking to develop the Barryroe field off the coast of Co Cork.”

“Having drawn up plans for a drilling programme to further appraise the field and completed a financing plan, the company says it cannot move forward without first securing the lease undertaking, which it calls “a natural follow-on from the Barryroe exploration licence”. Yet the permit is not forthcoming.”

“Since the start of the year, Providence has twice written to Eamon Ryan, the environment minister, without reply.”

“Frustration is mounting. The exploration licence expired in July, and so the delay is eating into the four-year term of the lease. Last month Providence emphasised the role that Barryroe can play in improving national energy security for Ireland, which currently imports 100 per cent of its oil.“

The article provides an overview of the farcical approach that Ryan has taken in relation to Ireland’s energy transition and highlights in some detail the challenges that Providence and Lansdowne have been dealing with, I am sure we will see more of this as the energy crisis deepens and Ryan’s failing’s are forensically exposed, ….GL S

A few snippets from the article..

“Since its first discovery ten years ago, Barryroe has been the great white hope of Ireland’s offshore exploration. Providence, the main promoter of Barryroe, one of the largest undeveloped offshore oil and gas fields in Europe, has encountered a litany of challenges including falling oil prices, failed talks with investment partners and a change in management. To the list Providence can now add another hurdle: a stonewalling minister.”

“Last April Exola, a joint venture between Providence Resources and junior partner Lansdowne Oil and Gas, submitted an application to the GeoScience Regulation Office of the Department of Environment, Climate and Communications, for a lease undertaking to develop the Barryroe field off the coast of Co Cork.”

“Having drawn up plans for a drilling programme to further appraise the field and completed a financing plan, the company says it cannot move forward without first securing the lease undertaking, which it calls “a natural follow-on from the Barryroe exploration licence”. Yet the permit is not forthcoming.”

“Since the start of the year, Providence has twice written to Eamon Ryan, the environment minister, without reply.”

“Frustration is mounting. The exploration licence expired in July, and so the delay is eating into the four-year term of the lease. Last month Providence emphasised the role that Barryroe can play in improving national energy security for Ireland, which currently imports 100 per cent of its oil.“

Yes, cash is tight, but it is also very evident that Lansdowne and Providence have very strong backing,

You should also be mindful that SEL 1/11 carries full legal entitlement and regardless of what the greens may think, there is no prohibition in place to prevent the asset being developed, this was also endorsed yesterday by Minister Michael McGrath during his interview with Neil Prendeville, the fact that the Minister of Public expenditure in Ireland, is in discussions with Providence should also demonstrate the strategic importance to Ireland, granted we have to see what unfolds in the next few weeks, but undoubtedly the tragedy in Ukraine and the farcical EU energy security policies are undergoing a rapid rethink, which bodes well for Barryroe,...GL S

A promising development and there are clearly discussions taking place, albeit at this stage those closest to the details are remaining tight lipped, which is very understandable and it is interesting to note Minister McGrath’s comments from earlier today,…GL S

https://sndup.net/w5zf/

The changes we are seeing unfold in the energy market will last a generation, plus the requirement to back up renewables will be for generations, thankfully Ryan will be history in approx 2 years (if not sooner) along with his virtue signalling Green Party, who are long on philosophy but constantly found short on workable solutions,…GL S

The discussion on alternative oil supplies is certainly ramping up,…GL S

Blinken on CNN: "We are now talking to our European partners&allies to look in a coordinated way at the prospect of banning the import of Russian oil while making sure that there is still an appropriate supply of oil on world markets. That's a very active discussion as we speak"

A wake up call for the DECC is fast approaching,….GL S

Courtesy of battle on the PVR discussion…

“Now might be a good time to mention that we have one of the largest oil and gas fields in Europe off the coast of Cork that is sitting beside the oil refinery in Cobh. We have eight months to have it up and running before next winter sets in. Brid Smith and others who stand against NATO will try to prevent the Irish people using their own natural resources in a time of war. A Russia oil tanker will port in Dublin next week with much needed oil. It has travelled a journey of thousands of miles to arrive here. Oil from Barryroe will travel a journey of ten miles to the oil depot in Cobh.“

IMO Fuel rationing is not too far away now, so it will be interesting to see how Ryan responds to the hopeless delays at the pumps, as the public queue for a few litres of petrol and diesel, the token gesture of oil reserves release, just underlined how desperate they are!, the supply side has been suffocated for years due to the delusional net zero transition policies and with Russian supply decimated of investment and supply, oil at $150 does not seem that far fetched now, …GL S