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Would that be a glass half full Friday by any chance JH?
Wishful thinking for me all right even though I probably knew the answer. Clutching at straws:)!
MB what's the story with that comment you made the other day about Junior sinking the pints of Guinness. Just Wishful Banter?
Thanks very much for that Battle. Funny how he invested so heavily in two companies synonymous with the O'Reilly family. Often wondered why Denis O'Brien or Dermot Desmond never dabled in PVR. Probably too shrewd and would have been too much banging of heads with Junior. Was surprised not to see O'Brien get involved in Eir though recently. Thought it would be his cup of tea considering his escapades in the Caribbean. All the best!
Don't know where you hang out Munch but maybe it wasn't Sunny Delight but Red Hurley on a break from his reunion tour with Big Tom, Noreen Ferns and the JCB Man. Elsewhere I see that there is an article in the Sunday Business Post (Ireland) today discussing why Nick Furlong of Pageant is investing in PVR and others. Online subscribers only and dwelling on the wrong side of the pond to pop into the shop to buy it.
Riveting stuff! I think the longer I am here is now definitely synonymous with a steady reduction in the level of my IQ.
Was going to say the same. Go to providenceresources.com and read same RNS.
JH77 The old Examiner item is from August 2016. The recent one is from December 2017. All the best.
Just checked both those links and they worked fine for me. Basically Cairn is in no rush with Spanish Point and onus is on PVR to find someone to farm in to their 58% before anything else happens even though Cairn would be the operator. In relation to Barryroe you would think a farm in would have to be announced before the end of February if they are going to have an extensive appraisal this year. Personally I think that the only way Barryroe was going to be tackled this year was if PVR were going it alone doing one major well and a possible sidetrack/extensive flow test. The way it is looking now is that they are going to get a partner/operator on board and carry out a far more extensive appraisal which would mean starting Spring/Summer 2019 and drilling through the summer of 2019. Makes a lot more sense, especially considering the carry on the last time they drilled Barryroe with Transocean. All the best.
http://www.irishexaminer.com/business/cairn-energy-offshore-ireland-not-a-priority-416234.html Sorry old article but just shows how majors/super majors view exploration. Something like Spanish Point could seem like money in the bank for a cash rich company like Cairn so they will be in no rush to tackle it unless they have to. For me it seems like Cairn breaths confidence when referring to it's offshore Ireland assets. They have Spanish Point, they done their bit in opening up the frontier a bit more with Druid/Drombeg. Now they are more than likely to sit back and let someone like Woodside or Nexen take the next hit on the Atlantic margin. Both of whom are saying 2019. 2019 it is then!
Battle I think there are a few skins hoping that gas Barryroe could fill the gap. Maybe the reason for all the current excitement/activity. If I remember correctly plans to use the Kinsale field for storage were abandoned or postponed.
Hope you got that if you scroll down to the end of the Nexen piece. Looks like 2019 is the year all round unless Cairn come up with something re Spanish Point. 2019 for Barryroe appraisal as well. Mbev could be right with dropping PVR once the farmout details are announced. Could be a bit of a wait!
http://www.oedigital.com/component/k2/item/16771-investment-plans-on-the-ukcs
Agree. Nothing from Cairn in relation to Spanish Point this year? Think if D/D was a success everyone would have been throwing the kitchen sink at the Atlantice including Cairn. Now looking like everything being put back to 2019 at least. Was thinking more that PVR would need Barryroe money for cracks at Newgrange and Avalon. Hopefully Spanish Point is mostly sewn up financially.
Agree new partner will not take more than 50%. PVR will try to hold on to 30-40% with Logp taking 10%. Not sure what will happen to San Leon share of production whether this will be swallowed by the new partner but PVR will try to hold onto as much as possible with the view to selling down their stake as needs be if they go after the Atlantic again.
:)!
Del we'll agree to disagree and let time tell. I hope your right:)! Anyways I think I used up my quota of column space for the month yesterday. He's to an RNS this week or next. All the best:)!
Cheers MB! Don't want to speculate on what might trigger corrections. Dangerous Craic! Sure have been waiting here for that RNS:)! Something like 5 years at last count. My God. Hopefully it's still not a mirage on the beach of one of Junior's sun holidays. One good thing about Barryroe if the market stays positive is that, providing a good RNS, the lead up to the appraisal campaign might help rid PVR of a lot of the selling preassure. Especially if it is next year and another major or super major tries tackling the Atlantic in the meantime. Talking about mirages:)!
Institutions that were burned. Especially the ones that bought in at 25p. Do you not think they would take your hand off if they saw the share price go anywhere near 50p. Would they let it get anywhere near there before offloading. Then there is the Institutions that bought in at 12p in December 2016. After seeing the share drop to 5p do you not think they would be offloading at least half their holdings if they saw the share price anywhere near the mid 20s possibly giving them a free carry on the rest of their holding. Some of them are doing it already and they are only close to breaking even. For me this is best case scenario in terms of the amount of selling we have to go through to see the gains some people are talking about. I do take the point that there are certain Institutions like Pageant who seem to have a different agenda and that a large percentage of IIs helps limit the amount available for PIs but there also seems to be a reason why a house like Mirabaud has been enlisted. To find institutional buyers for the huge amount of shares PVR expects to come to the market as the directors try to get to that magic figure of 45p for their own options. I would love to get close to the 50p figures people are talking about and while it looks more possible with every day in the current climate, the closer you look between the lines the further that 50p figure seems to get. All the best.