Member Info for wraith

Yes, it's getting interesting now,..... either way, success or failure with Druid/Drombeg drill, a Barryroe deal in 2017 looks to be on the cards to me (with PVR current Cash position),.... in the success case with Druid/Drombeg drill, I would not be surprised to see PVR attention focusing on both Newgrange & Barryroe,.... if Druid/Drombeg drill does not work, I would expect to see PVR attention focusing more on Barryroe. BW

With a Barryroe Farm Out, I would also expect to see multiples of current Market Cap. PVR in much stronger Cash position now, to negotiate a deal on attractive commercial terms,......will it come before Druid/Drombeg drill results or after is the question I'm asking myself,........ with the most recent guidance we have been given, I am of the opinion, we will get positive Barryroe news 2017. BW

Sitting on hands here at LOGP myself,.. for now,... did consider increasing my position yesterday, but decided I already had enough Funds exposed here. BW

correction, should read "Loan Note". BW

Yep, feeling much more comfortable with my investment here, now that there is clarity, regarding the Cash position & Loan Not going forwards, along with guidance on Barryroe;- Barryroe farm out, "Discussions are continuing with a view to concluding a farm-out deal(s) on attractive commercial terms." BW

Good heading (Higher prices),...now we have the Cash to survive until the end of Q1 2018, we have a chance of seeing them. (imo);- Steve Boldy, CEO commented: "We would like to thank Brandon Hill Capital for its continued support. In the current environment for junior oil & gas companies, we believe the terms of the Loan are very attractive and a testament to the potential offered by Lansdowne and its flagship Barryroe project. Through a variety of cost cutting measures, Lansdowne's monthly burn rate has been reduced to circa GBP 30,000 per calendar month. With this Facility in place, callable at Lansdowne's request, the Company now has sufficient access to capital to fund its current operations until the end of Q1 2018. Whilst we acknowledge the farm out of the Company's Barryroe asset has taken longer than originally envisaged, the Company remains heartened by the level of interest it continues to receive in the farm-out process and looks forward to updating all shareholders on progress in due course." Source: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/LOGP/13277496.html Enjoy the wine JH77. BW

Excellent News; GBP 350,000 Loan Agreement Entered into with Major Shareholder Brandon Hill Capital Limited. I was become a little anxious, with the Loan Note dated 30/06/2017 being so close,....I'm not anxious anymore. BW

Anth72,....I hear what you are saying,....I like to keep the risk of holding AIM shares, spread over several companies,...as I said earlier, I'm already holding a good position in BOR,....this position represents, approx 7.3% of Total Funds invested, across my share portfolio at present. BW

Anth72,.. With Admin Expenses at $1.74 million, no debt, & Cash Balance of $9.65 million showing at 31 December 2016,...our breakeven oil price $40 per barrel or lower,...Opec/Russia targeting a higher Oil price,...also Argentina and UK relations are more encouraging;- Argentina and UK agree to ‘remove obstacles’ to Falklands development. https://www.theguardian.com/world/2016/sep/14/argentina-and-uk-agree-to-remove-obstacles-to-falklands-development If Project Funding is achieved, I would also expect to see multiples of current s/p levels. BW

Hi Anth72,.... with our Breakeven oil price $40 per barrel, Lower breakeven oil price possible, & Opec/Russia targeting a higher Oil Price;- OPEC, have no fear: The U.S. oil-shale output crash is here, http://www.marketwatch.com/story/opec-have-no-fear-the-us-oil-shale-output-crash-is-here-2017-06-27 I'm already holding a good position in BOR,.... hoping to be able increase here substantially, before 2018. BW

I have held LOGP shares in the past JH 77,...... bought back in earlier this year in anticipation of a Barryroe Farm Out in first quarter of 2017,..... last year the loan note was extended to 30th June 2017, our Cash position must be getting low now. LC Capital Master Fund, Ltd, look to be in a strong position here,... I also believe a Barryroe farmout will come this year,..soon I hope. BW

No, will not be going to AGM myself,..... on the 17th June 2016 the Loan Note was extended;- "The Loan Note On 10th March 2015, the Company issued a senior secured Loan Note to the value of £1,862,318 to LC Capital Master Fund, Ltd. On 10th March 2016, the Company announced that LC Capital Master Fund had agreed to extend the term of the loan note by six months until 9th September 2016. LC Capital Master Fund has now agreed to convert £930,000 of the amount currently outstanding into new ordinary shares at a price of 1 penny per share. This will result in the issue of 93 million new ordinary shares to LC Capital Master Fund, which will represent approximately 19.4% of the enlarged share capital of the Company. On Admission LC Capital Master Fund will be interested in 138,160,668 ordinary shares representing 28.8% of the Company's issued share capital. In addition, LC Capital Master Fund has agreed to a further extension of the term of the loan note to 30th June 2017 and to a reduction in the coupon from 10% per annum to 5% per annum from today's date. The 20% redemption premium on the original amount outstanding has been capitalised. The remaining Loan Note carries no conversion rights. The Total amount outstanding under the Loan Note at Admission will be £1,545,552",...taken from RNS "Issue of Equity" dated 17th Jun 2016. I have been waiting since 17th June 2017(with the date of last Years Results being, 17th June 2016) for clarity on LOGP current Cash position & Loan Note, going forwards. BW

Thanks for posting link,.... just need that Project Funding box ticked. BW

A cracker,..with "Combined capital and operating costs estimated at c.$30/bbl" (taken from last years Final Results Fri, 17th Jun 2016) for Barryroe, & LOGP with 20%, it should be,..... the question I'm asking myself is, where are this years Final Results? BW

I have had a look over on the ADVFN board you mentioned,... was disappointed to find rather childish/schoolground remarks, being made by poster -"papillon"-,... I was under the impression, that we were all adults, on these Financial boards. Tune fore weekend: https://youtu.be/129kuDCQtHs BW

In the scenario you mention,..... a ratio of 1 pvr (s/p@15p) share for every 15 LOGP shares, this calculates out as;- 510.16 million LOGP shares in issue divided by 15 = 34.010666 million PVR shares for 20% of Barryroe, placing a valuation of 34.010666 million PVR shares x s/p@15p = £5.1016m approx for 20% of Barryroe (s/p@0.99999p on each existing LOGP shares),..... not forgetting, this would equally reflect a valuation of £20.406m approx, for the PVR 80% of Barryroe,.... which I do not believe would be helpful. I would be very surprised, if such a low value offer was made. With my Gross current average LOGP s/p@1.27239p, such a valuation(£5.1016m approx) would leave me 21.4% approx down on my current LOGP shareholding,..... my existing low current average PVR shareholding s/p position (which is in Profit), would absorb such a loss on the new incoming PVR shares & still be in Profit at a higher Gross average s/p, with PVR current BID s/p@14.5p,.... I bought into LOGP this year, hoping to average down my PVR s/p position further, with Profit from LOGP, not to average up, as a1to15 ratio would have me doing!!! No,..Most definitely not in favour of & would not support, a1for15 ratio myself either,... that would not work for me!!! (much prefer, my1 for4 ratio scenario). BW

Hi JH77,... Yes, as a PVR shareholder, I have approx 5 times the Funds invested in PVR, to what I have invested in LOGP (at today's Market Caps),...... when using a ratio of 1 PVR share for every 4 LOGP shares I hold, this would result in my current Core PVR shareholding increasing by 85%,...... this would in itself more than counterbalance the 26.4% approx increase, that there would be in PVR shares in issue(597.66 million shares + 127 approx million shares + 31 million shares = 755.66 million shares approx), in such a scenario. Although, as you quite rightly point out (imo), Barryroe is valued at a ridiculously low level at present,..... I believe that with the type of deal scenario outlined, the market would reflect a more realistic valuation of Barryroe, if PVR were to have the LOGP 20% also,.... which could also have the effect of negating the negative downside effect of PVR share dilution, on the PVR s/p, in this scenario, (imo). It would be great to have a Barryroe Farm Out announced, before the end of June, or at least some sort of deal to progress the Asset. BW

I was just having a few thoughts on the rumours myself,..... but more along the lines of, an all paper takeover valuing LOGP at £19.07m, which with the PVR s/p@15p would be a ratio of 1 PVR share for every 4 LOGP shares held approx. With the rumoured PVR Cash raise s/p@15p, being used to help progress Barryroe. Holding both PVR & LOGP shares myself, if this type of deal scenario would progress Barryroe, it would have my support. BW

Would like to hold more LOGP myself, but can only expose so much (%) of share portfolio here,....agree, a good Barryroe deal does look more achievable now. BW

Yes, that's it, not a member myself, so unable to read it, sounds encouraging when reading interpretation of article, by poster "spuddymadrid" on ADVFN (PVR board). BW