Member Info for tidd83

Let’s take a stab who this party is, id assume Vitol. The fact we are so close to FEED conclusion with a likely increase on many fronts including 40 year project life and projected NPV/IRR is a tell. Bluechip offtake discussions moving forward and a submission to request approval for grant funding 6x the mcap. A board lumping in £350k on market of their own money and a capitalisation of just £5m? You can’t get anymore obvious for a standout buy in terms of risk/reward in my view. This moves very quick as seen today and those short sighted who can’t clearly see the potential returns from a project of this size are likely to miss out. At £5m there is a hell of a lot of upside.

It is worth bearing in mind what existing infrastructure exists in close to proximity to Barryroe. The partners have been in discussions historically around the Kinsale Head pipeline which is due for decom in 2020/2021 due to exhausted resources. I wouldn’t be surprised if something strategic is done with these facilities, there are also gas targets within the Barryroe permit blocks. Could prove to be a satisfactory outcome for all parties. https://www.kinsale-energy.ie/operations.html

Given the FEED is due next month, is ahead of schedule and under budget. All the project updates to date including majors working on everything from feasibility to financing, the clear demand for storage, the calibre of the BOD who also are backing with their own money.. Why are people selling at a £5m MCAP? You couldn’t make it up.

Ireland closer to massive oil boost https://t.co/AqgsN9FUmN

- Have a 20% interest in the Barryroe Oil Field (largest undeveloped oilfield in Europe) - Have entered into an agreement with APEC to farm out a drilling programme which is to begin 2019. Fully funded 5 well campaign with 2 optional wells (7 total). - Will retain 10% ownership of Barryroe after the Farm-Out (net 34.5MMboe of contingent resources (2C) with significant additional upside) - Barryroe is already a commercial oil discovery having produced over 3500 bopd in the past - The third party funded Drilling Programme will look to convert a sizeable amount of these resources in to proven and probable (2P) reserves ahead of subsequent development and production. With a current market cap of just US$10M, Lansdowne's valuation equates to less than US$0.3 per contingent barrel for its 10% ownership. - LOGP don't need any funding for the drill/appraisal as it will be paid by APEC via a non recourse loan (to be paid from future Barryroe production cashflow). Costs for APEC are estimated to be $150-220m - It is estimated that Barryroe holds between 1bn and 1.6bn barrels of oil. - Raised £900,000 at 1.30p in April 2018: "The purpose of the Placing is to raise proceeds sufficient to fund the Company's share of costs on the Barryroe Licence through to closing of the Farm-out which is expected to occur in Q3 2018 and for on-going working capital requirements to mid-2019." - 51% of stock held by major investors and 2.54,% by directors - Major shareholders are converting loan money owed to them by the company into shares. SOME CALCULATIONS 34,500,000 barrels retained. Conservatively valued $3 = £80,122,455 (13p per share) 34,500,000 barrels retained. Value at $5 = £133,537,425 (22p per share) Low cash burn at just £35k month. Further reading and viewing: - https://youtu.be/5_tvnOlYYlE - http://www.providenceresources.com/ireland-celtic-sea-basin-sel-111-lo-124 - https://youtu.be/u3xdS5D1eqE - https://youtu.be/vSUg-tadkag

Feasibility study is just weeks away, grant application in for £40m of EU funding. Company trading around £5m when the BOD bought on market only weeks ago at a 40% premium to the tune of £350k. Another gift horse.

Markets and base metals rising https://www.bloomberg.com/news/articles/2018-11-02/trump-said-to-ask-cabinet-to-draft-possible-trade-deal-with-xi-jnzjeqx4

Excellent news https://www.bloomberg.com/news/articles/2018-11-02/trump-said-to-ask-cabinet-to-draft-possible-trade-deal-with-xi-jnzjeqx4

AIM should follow; https://www.bloomberg.com/news/articles/2018-11-02/trump-said-to-ask-cabinet-to-draft-possible-trade-deal-with-xi-jnzjeqx4

https://www.bloomberg.com/news/articles/2018-11-02/trump-said-to-ask-cabinet-to-draft-possible-trade-deal-with-xi-jnzjeqx4

A very impressive interview with Paul Baay yet again on the recent webinar which I managed to catch up on last night. The numbers coming out of Ortoire are simply breathtaking, what is more is that many of them are low risk appraisals of existing discoveries. The risk is further offset by the funded development program which is expected to add a further 20% increase to production moving forward. With six wells still to come on stream for the 2018 program TXP could move in to 2019 with around 2250bopd. Following on in a similar manner 2019 on a low ball figure could be in the region of 2700bopd and that is without success of any of the Ortoire wells which in themselves are transformational.

Agree with you Sentanta.

Another very interesting development, logical move by the board - certainly are getting their house in order. Consistently delivering; sit back and ignore the short term SP moves.

chip just put an order in with your broker, may have to do it piece meal but only way to build at the min.

Probably explains why a tonne of people have been shook out. Order filling and we all know how difficult it is to buy in size. That’s Brandon Hill and LC Capital now over 50% collectively.

Some opportune bargains appearing here, wonder if we will see Brandon Hill or LCC taking more on market.

“InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, is pleased to announce that it has submitted a new "grant for works" application in respect of its Islandmagee gas storage project (the "Project") to the EU (European Union) pursuant to the requirements of the Connecting Europe Facility grant reference: "CEF-Energy-2018-2". It should be noted that this new application does not impact the Company's existing EU grant for FEED ("Front End Engineering Design") works. As announced on 11 October 2018 FEED is progressing ahead of schedule with almost 70% of the pre-established milestones having been achieved. The application has been submitted for a grant intervention rate of 33.14%. This equates to a grant amount of circa £40 million towards the total construction cost of the Project's first phase of an initial two storage caverns.” Followed by; “Additionally, the company has obtained support from the governments of the UK (including Northern Ireland) and the Republic of Ireland for the Islandmagee project; and the UK government has awarded it ‘UK Guarantee Scheme’ status, which facilitates access to government guarantees on debt finance for 65% of the project cost.”

Won’t matter a bean Loz, the major event is the multi well fully funded drill. The general market was down today and LOGP followed, nothing changes from the points ahead and the agreed program which the Barryroe partners have access too. Shares were up at around 3p on the mention of a farmin, the deal substantially improved and even recognising the earlier conversion of loan the shares are now 1.8p? Just keep nibbling, I am.

Ill go with 8.75p

Barryroe Site service notice. Great to see it the process starts and bodes well for drilling early next summer http://www.dttas.ie/sites/default/files/Marine%20Notice%2038%20of%202018%20Geophysical%20Site%20Survey.pdf