Member Info for wraith

It does read as good news, on Tano 2A Block, to myself Andrew55 ;-

"Ghanaian Tano 2A Petroleum Agreement

All outstanding issues have now been resolved with GNPC on our Tano 2A Block. The signed Petroleum Agreement is now being sent to the Cabinet. All legal proceedings have been dropped and all issues resolved to our satisfaction.

After a period of slow progress, Ghana's current NPP Government has galvanised the licensing effort. The administration is pro-development, and actively reviewing historic Petroleum Agreements, with stated focus on early exploration, discoveries and output. During 2018 the Ghanaian Ministry of Energy and the Ghanaian National Petroleum Commission considered the current re-application by Pan Andean Resources Ltd (30% Petrel, 60% Clontarf, 10% local interests) over the original Tano 2A licence block acreage in the prospective Tano Basin, West Africa.

There is a mutual desire to complete the ratification process. Our strong preference is to honour as far as possible the terms of the existing signed Petroleum Agreement, adjusting the revised coordinates and any other fine-tuning necessary."

Source : https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CLON/13806147.html

BW

Thanks Manners99,...just read Jimmy on "discuss the market board ",....have not been reading iii board recently,..... good to read poster Jimmy comments, on recent events.

BW

It was quite a pullback, in s/p Bear666,....nothing wrong, with locking profits in,....myself still sitting here, with a good six figure, PRD shareholding,...... I was in here early, which has resulted in my Gross average s/p, being close to IPO level s/p (my Gross average PRD s/p@3.16915p),....making PRD an easy hold for myself, awaiting news flow.

BW

Hi DelBoi,......I remember that video,...cost of Newgrange well, was just north of US$20m back then, guidance now reduced to US$15m,....Newgrange Farm Out, a definite possibility (imo), but very happy with current with Barryroe news myself.

BW

Tony talks about Newgrange, in video below ;-

Newgrange well cost, only US$15m approx,....... would look to tack a Newgrange drill, onto an existing program,......objective to Farm Out this year.

Video : http://www.providenceresources.com/videos (from 8:29 into video).

BW

I also backed the truck up today, DelBoi,...increasing my PVR shareholding, by 61%,....increased my LOGP shareholding, before Barryroe RNS,....I should have increased my PVR shareholding, at the same time.

Newgrange,....... PVR are delivering Farm Outs (since s/p@12p placing),.....will Newgrange be next.

BW

I was not holding PVR, at the date of your article link, Manyana,...but was watching PVR, very closely, waiting to see , how, the then Debt Burden, was going to be dealt with.

Once PVR, had done the s/p@12p placing, I bought back into PVR, around the placing s/p level.

Looking at PVR today, what a transformation, since those Dark Days, back in 2015.

BW

I remember that article, Manyana,.....extract, from article you posted ;-

"A source familiar with Pageant said Furlong's company thinks Providence has significant upside.

The source said Pageant thinks that if Providence can find someone to write a cheque for another round of drilling at its flagship asset - the Barryroe field off the Cork coast - and that drilling is successful, Providence could be worth twenty to thirty times its current market capitalisation. Currently the company is valued at around €30.5m.

"Most exploration and production companies typically trade on a 2c value [based on the best estimate of technically recoverable resources] per barrel of oil of around $1 to $3 in the current environment. Providence is trading at around 5c a barrel which is unheard of. There's a good reason why the stock is trading down here, it's got this debt piece that needs to be refinanced in May next year. Pageant's view is that that will get refinanced," the source said.

"A lot of people give Tony O'Reilly Jr a bit of stick because they say the share price is down 98pc. I actually think he's done a decent enough job. I think he's been very unfortunate with how the events have played out," the source added."

Above, is an extract from this link : https://www.independent.ie/business/irish/furlongs-pageant-holdings-ups-stake-in-oreillys-providence-resources-31597938.html (dated October 11 2015).

The below two links, show Pageant steadily increasing, to today's date 24/09/2018.

https://www.irishtimes.com/business/energy-and-resources/pageant-holdings-snaps-up-shares-in-providence-following-slump-1.3218155 (dated Tue, Sep 12, 2017).

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PVR/13801645.html (dated 24 September 2018)

BW

Hi jusmasel,...I'm still there, holding an EOG shareholding myself (don't post much, on EOG board, at present),....holding a PRD shareholding here also,....both PRD & EOG, have interesting positions, with ref to Corrib (imo).

BW

Took just a few more than that, myself today patrickd369,....got them at s/p@13p.

BW

I can what you are pointing out Marmited,...in the PDF version link, they say ;-
"Africa Energy is not aware of any material non-public information."
http://files.newswire.ca/1599/africa_energy.pdf

In this link, they say ;-
"PCL has requested a stock trading halt in anticipation of drilling results for the Cormorant-1 well"
https://www.africaenergycorp.com/news-releases/africa-energy-market-announcement-122555/

BW

Thanks for posting that, anovas,.....As they say;-
" sign off was required from multiple parties including both the Irish and Chinese governments, and therefore the fact that the agreement is now binding quells any concerns that the transaction would not complete".

BW

Your logic, is pretty much how I see it, Battle,....I like the ""Far away fields are greener" scenario, have had thoughts along those lines myself.

BW

Our new Block, has also got myself thinking, of the deal scenario, that you mention Jimarillo,....we have not got long to wait.

BW

Had not heard that clip JOEHIGASHI,....I already new, about co2 EOR in Trinidad,.....where Paul Griffiths CEO says (from 00:46 into link) PRD are in a prime position, to secure a Farm Out, on the Irish assets, in the next 12 months,...that does sound very good, for a Corrib South drill 2020,...pull back, from Market Cap £9.81m to present Market Cap £6.86m, is healthy,.....agree, nothing has changed (same CEO, same assets,etc),.......apart from the Time Line, it will only keep getting shorter, to Pilot Production (co2 EOR in Trinidad), & South Corrib Farm Out (Ireland),.......link below.

Paul Griffiths CEO : http://ow.ly/ZfpM30lTRSN

BW

Just been looking at ADVFN LOGP board,...I note, they have a poster appeared there, full of woe.

Myself, will go with Chinese experts, view of Barryroe ;-

"Barryroe Farm-Out signed

· Binding Farm-out Agreement signed with APEC

· Enhanced Multi-well Drilling Programme of 5 firm Wells and 2 Option wells

· Increased Loan and Carry Agreement

· Preparation work to commence immediately, with first drilling anticipated in Q2 2019

Source : https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/LOGP/13797938.html

BW

Looks like a Buy, to myself also, JH77,.....that Buy, of 5,400,000 shares, s/p@1.75p, reported late, on the 21-Sep-18,......the dealing date, was 20-Sep-18, at 15:13:12 hrs.

Though, not been following, s/p closely myself.

BW

Just had a look on their website, Marmited ;-

"PCL has requested a stock trading halt in anticipation of drilling results for the Cormorant-1 well on Petroleum Exploration License 37 ("PEL 37") offshore Namibia. PCL trading has been halted until the earlier of a market announcement or market open on Tuesday, September 25, 2018."

Source : https://www.africaenergycorp.com/news-releases/africa-energy-market-announcement-122555/

BW

I hope you have called it right SUFCESSEX,... a good drill result,.....multibagger, springs to mind.

BW

If, the Biggie comes good,....with only 162.06m shares in issue, (Market Cap £14.99m),......the upside for the s/p here, looks to be enormous,....hence, I feel it only necessary, hold a small shareholding here, (risk / reward).

BW