Member Info for tidd83

Remain exactly the same - minister was surprised the PPA had not been granted since the project hadn’t already been pre-approved. Other than a delay nothing has changed except the project has got stronger.

MrT we must stop meeting like this. Yes got in a few weeks back and have been adding since. Think the timing is right.

There are three videos chris; https://youtu.be/W6aD06izGlg https://youtu.be/jH2i5zY467s https://youtu.be/qly8VhNjmUA

Thanks risky good post. Anything below 1.3p is a nice opportunity

Well Brandon Hill became a shareholder in the loan conversion back in April to the tune of £350k at 1.3p. My guess is they are positioning them as broker for future capital raises. The farmout is due to conclude this quarter with the Chinese consortium for Barryroe, if it does then Lansdowne will have a sizeable interest in a multi well campaign with a proven resource base. The wells as we know will be funded via the consortium via the non recourse loan however it gives the ability to raise capital for day to day costs etc. Either way, it is not in the company’s nor is it in Brandon hills interest to raise below 1.3p given their existing positions. I note sigma are also still in place for 4.1% of the Company.

Evening Eyeguy, hope you are well? I’d have to agree on your last point. I think the market hasn’t cottoned on to the recent board restructure and the fact that the project is now rapidly progressing. It sat idle for the longest time but the progression in the recent period shows that this is now moving full steam ahead. The more you read into this the more you realise how little is currently priced in.

Only capped at £21m.

https://gmpsecurities.bluematrix.com/sellside/EmailDocViewer?encrypt=2518714a-e44b-4f8b-8c8c-13991a1e48d4&mime=PDF&co=Gmpsecurities&id=noauthentication@bluematrix.com&source=libraryView&htmlToPdf=true TXP broker target on initial page.

Paid

Yes wingnut, it was at around 1330bopd as we know we are about to reach the first 2000bopd milestone. CERP is still capped higher but it appears cash burn is ongoing whilst production rates are flat or marginally down. TXP is the cheapest of the main listed AIM T&T plays yet is outperforming it’s peers on rate of growth.

And it’s blue skies to creating new highs. Excellent growth play, Baay is replaying True Energy.

Taken from the recent results from San Leon; “Barryroe Net Profit Interest The Company's 4.5% Net Profit Interest in Barryroe oil field, offshore Ireland, provides a zero cost potential future cash stream that has a carrying value of €42.6 million. Providence Resources Plc, the operator of Barryroe, has made recent progress with the announcement of a farm-out to drill three wells and is at the initial stages of development.” That equates to around $11m per % prior to any farmout deal. If farmout is successful then LOGPs net interest at 10% is $110m. Add on exploration upside from the free carry of a multi well campaign and already substantial 2C net attributed resources of 34mbo and £8m looks a little bit silly. We are now in Q3 - conclusion of farmout of Barryroe is due this period. The needle has yet to move.

Good find Scott, only just seen this. Perhaps the government are positioning to gain a representative in the industry on their own behalf to help with the review of proposals submitted.

Brent now at $79.4

It will be the 20p range soon enough. Have a good weekend all, enjoy the storm Kums.

And good morning. I agree, the next operational update should see TXP on or around 2000bopd if not surpassing depending on how many wells they factor into the equation post extended test. The fully funded 10 well program should have us around 2200+bopd id imagine. The question then is, will PB schedule another program of 5-10wells for the remainder of Q3 and Q4 whilst also moving into Ortoire or do we focus solely on that block. Low risk targets (of which five have been identified) of circa 2000bopd on each well.. that will transform the company. Either way things are getting very exciting and I think we are going to start seeing new share price highs being formed.

https://audioboom.com/posts/6913439-tlou-energy-tlou-bezant-resources-bzt-and-toople-toop

To move it

https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4wa0zxjyv%2BN26rFiGug%3D Tom - yes, having been banned from LSE the loon registered anywhere and everywhere he could under various account names. Mental instability comes to mind, either that or he leads a sad existence (maybe both?)

This would be an opportunity for all parties given the recent strength of the commodity. Squirrelling is right. “Providence shares were trading as high as 625p when the excitement over Barryroe was at its height in 2013. The subsequent decline underlines how difficult it has been for the Irish company to move the project forward. A weak oil price will have had some impact, but the Chinese commitment can see the field turn into a significant cash generator. Six wells have been drilled at the prospect thus far – four by Esso/Exxon in the 1970’s, one by Marathon in 1990 and Providence/Lansdowne’s well in 2011/12. Estimated resources are 311mln barrels of oil (ignoring gas) on a 50/50 chance or 2C basis. Should the project now advance to production, as Providence now anticipates, then it will give it a strong cash generative base. Based on past projections, the field is itself a very significant and potentially world-class asset with production estimated at an initial 30,000 barrels per day. Formal closure of the farm-out is expected in the third quarter this year, after which the drill targets will be selected. Steve Boldy, Lansdowne’s chief executive, added: "The Chinese Consortium brings a wealth of technical and operational expertise. “Upon closing, Lansdowne will retain a net 34.5MMboe of contingent resources (2C) for its 10% ownership of Barryroe, with significant additional upside in terms of further exploration potential. “The third party funded drilling program will look to convert a sizeable amount of these resources into proven and probable (2P) reserves ahead of subsequent development and production. "With a current market cap of just $10M, Lansdowne’s valuation equates to less than $0.3 per contingent barrel for its 10% ownership.” Lansdowne shares rose 38% to 1.82p and Providence 18% to 11.1p.”