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Lansdowne Oil Share Discussion Threads
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Tony has suggested a lot over the years. Nowt has come from his suggestions. The one good think of late is the Druid drill deal and the excellent data on Druid that PVR have is from Schlumberger. Lets all hope SCH are spot on with their Druid data.
Off out to post those Christmas cards.
|Hmm. That's not what Tony is suggesting...though he has a bit of history about being a wee bit unreliable. Will get back to ur msg ASAP. Going for a kip now as had a few glasses to drown me sorrows|
Best of luck with your averaging down, I sincerely hope it works for you.
I lost a shed load of money here and only hold a very small amount now. Midleton help a bit because I got out a 14p just hours or the day before the P&A due to water.
BR may happen and I hope it does but I feel PVR are now looking at Druid then possibly Drombeg, BR IMHO will happen but not for a long time.
|Hi JJ. I see somebody just dumped 750k shares here. Obviously not a believer! In fairness to Boldy though, he did achieve a deal last year on the Midleton drill which unfortunately didn't come good. So he has done better than Tony.|
|Good luck FTJ, and I hope it works out for you. I think throwing good money after bad might be the case here, as I have no faith whatsoever in the management of both PVR and LOGP, but hope I am wrong.
Realistically, they havnt made a deal here in several years, so I am not sure how anyone can expect a shareholder friendly deal now.|
|I'm hopeful as well TV. I've got a shed load of LOGP shares and I've been averaging down for the last few months in anticipation of a price recovery.|
|Ftj - we'll rescue something out of this, I can feel it.
I reckon EB ejected so he could flog his shares to avoid the announcement of the sale - had about two mil from memory.|
|You done better than me TV ! Might as well hang on to it anyway.|
|FTJ - Ahh, Emmett Brown. He gave the paperweight with some Barryroe oil in it. Some wag on here commented that would be the only oil we saw.
On the bright side, does that mean my paperweight is worth a fortune??????
It's here in front of me - I'm taking offers - who is going to start the bidding war???
|Thanks GD! I don't get many compliments around here! Here's hoping anyway. I remember a conversation a few years ago with Emmett Brown and he reckoned East Kinsale was the one to go for.|
|Herm, IMHO Petronas are as good at drilling as probably all the other Majors.Always a wee bit of luck to hit the sweet spot, would you not agree?
FTJ, If Petronas do return to Midleton to drill IMHO the chances are possibly better than the last one. Plus your reasoning why Boldy has retained it in LOGP porfolio is very sound thinking.
ATB to you both.
|Yes....Just a random thought really that they may have a bit of money earmarked for 1 drill per annum. Since Midleton didn't hit the right spot last year then maybe they might have another crack this year. Can't think of any other reason Boldy would have retained it in the portfolio! Would sure be a game changer if it came up trumps.|
|FTJ,Midleton may have caused Petronas to rein in their horns but who knows? They are good at drilling and have more "cojones" than those jellyfish at Exxon.....|
|It's a wee bit slow all right Jimmy. Maybe there is a pleasant surprise around the corner though! A drill on East Kinsale next year by Petronas...as well as a Barry roe farm out?|
|Enough waiting- time to drain the swamp!|
|TM,Baldy must be wearing out de hammock!|
|Read through below for LOGP shareholders:
OPEN LETTER TO PAT PLUNKETT CHAIRMAN PROVIDENCE RESOURCES
November 19, 2016 | Posted by admin
Dear Mr Plunkett
I write in an open forum following our brief dialogue on the 16th November 2016 in which you made clear that you deemed a large private shareholder (holding in excess of seven figures in shares) and one with the support of many, many other retail shareholders not sufficiently important to engage directly with.
Providence Resources (PVR) shareholders have in recent years had a resolute belly full of the type of attitude that you projected and which is extremely dismaying given the hopes I and others had of a new direction and stewardship of PVR following your appointment in September of this year.
I would direct you to a prior open letter of mine here (http://www.alignresearch.co.uk/providence-resources/open-letter-tony-oreilly-jnr/) in reiterating the solid points put forth by me in relation to the composition of the PVR Board which comprises largely Tony O’Reilly Jnr acolytes.
As another year closes out, despite numerous public pronouncements by our CEO that a Barryroe farm in was “imminent” we still sit here with a deal on this field unconcluded. For TOR Jnr to remain in the CEO seat given that the oil price has near doubled from the beginning of the year and many mid-tier explorers have increased multifold whilst we have declined approximately 30% is incredible in the extreme. As a large shareholder I am at a total loss as to how this individual with less than half the stock I hold and not even 1% of the total share count (which was heavily diluted thanks to the bringing of the company to near bankruptcy in the spring) holds onto his position. It beggars all belief with regards to accountability and commerciality.
I also make the point that Spanish Point has gone quiet, again in contrast to commentary by the Board last year that 2017 would see the commencement of drilling. I quote from your RNS of Dec 17th 2015 – “The Operator now plans to commence operations for drilling during 2017, subject to governmental approval” (Ref Spanish Point). The farm in process here has been active since October 2015 and Tor Jnr seemingly has, again, drawn a blank with regards to the preparedness of a party to farm in.
One could be forgiven for concluding that the representations made by the largely same management team in recent years are simply not believed by the industry (hence no farm in) as the excuse of a weak oil price holds no water given the Barryroe farm in process was originally commenced in a triple digit oil price environment. If this is the case, then by extension one could conclude that shareholders have been led a merry dance for years. Quite why the institutions continue to humour ToR Jnr, in particular to the extent that they did with the $72m capital infusion in early summer this year, will be one of life’s enduring mysteries…
In the alternate, if the representations surrounding the company’s portfolio, and in particular in regards to Barryroe and Spanish Point, are correct, then the only logical conclusion is that Tor Jnr as the CEO is simply not upto task in being able to conclude a deal for shareholders. Lord knows he has been given over 4 years.
I see no other explanation than these two positions for the situation that we as shareholders currently sit in, some 5 whole years since the commencement of the Barryroe farmout process and that has left us a veritable laughing stock in many quarters of the City.
Mr Plunkett it is time for you to remove ToR Jnr and in doing so, whilst we are in a strong financial position, give PVR a chance with newly invigorated management to, once and for all, monetise our asset base.
|Still nothing from Lansdowne. Suspect they are keeping Baldy's idea on file - in a filing cabinet. Safe hands.|
|I suspect wee Baldy will be in the audience at the Proactive conference tomorrow to listen to TOR waffle.|
|For some reason , when he talks, I no listen, anymore.|
|That's not the way Tony would tell it!|
|The most likely outcome is , no news on Barryroe into next year, Druid drill failure for PVR. PVR and LOGP fold. Anything other than this is a bonus.|