Lansdowne Oil & Gas Share Discussion Threads

[ken chung] 01/1/2021 10:20

It's a fine short.Lemmings and mushrooms only.

[hoper2] 27/12/2020 11:23

Bluedolphine - Whatever the price of oil in the 70's or 90's, or the type of drill Esso, Marathon or PVR did is not really the point. The fact remains that the industry has known about Barryrow for donkey's years and there has been little or no interest from any "proper" oil company. All that PVR have come up with is Sequa, Apec and SpotOn - none of which have/had any money. Anyone can announce farm out deals if there's no requirement to have the money for the drill. If you are a shareholder in LOGP/PVR I wish you good luck, but I can't see even a tiny chance of this working out.

[biuedolphine] 24/12/2020 23:08

Mr hoper2, what was the prevailing oil price at the time Esso drilled those wells, and what would have been the breakeven then? Also, presumably, those two wells were probably simple vertical boreholes and, from what I have read, the proposed development will involve deviated lateral legs, most likely steered into sweet spots aimed at maximum reservoir exposure and productivity.

The well drilled by Providence was intended to be side tracked from the vertical pilot hole, but due to mechanical problems with the rig, which led to the infamous legal proceedings against the rig owners, and their subsequent successful appeal, drilling operations had to be curtailed following testing of the pilot hole only.

[hoper2] 22/12/2020 22:00

Esso successfully drilled and tested Barryroe twice in the 1970's and Marathon drilled and tested it in 1990. All drills had flow tests which were recorded around the 1500 bpd mark. Neither company considered Barryroe to be a commercial find.

[toolpusher2] 22/12/2020 17:16

2 companies drilled outside barryrow location one inside but cut it short due to soft formation and drill string problems and top drive equipment, when drilling you can come across soft formation especially on a big location like barryrow as for those companies that waked away I say with confidence that they will regret it

[hoper2] 22/12/2020 15:48

TOR was a little short on detail reference the flow tests if my memory serves me right. I believe there were two tests and they had problems with one of them. Many years ago a couple of decent companies tried to find a commercial field at Barryroe, but failed. Since then no proper oil company seems to want to be involved. PVR/LOGP had deals with tiny companies with no money or history like Sequa and Apec. Now they have found a similar one in SpotOn. I supposed some diehard shareholders and gamblers still have faith (or hope), but you have to seriously wonder why no proper oil company has shown any interest in the last 30 yrs or so.

[toolpusher2] 22/12/2020 15:19

Well said ceph bones knows sweet f/ a about drilling an oil well o by the way bones the drill bit always turn to the right.

[cephalosaurus] 22/12/2020 12:27

"the flow rates drop off so fast due to compartmentalisation"
Still lying and twisting the facts bones,
There's no drop off at barryroe, grynch girl. Show me the document which says there's drop off? No, you can't because it's a lie.
On the other hand there was drop off at 7 heads where you lost all your money and became embittered ever since, or employed by your tin pot boiler room to sow seeds of doubt.
Happy Christmas bones!😂

[ddz6006] 22/12/2020 09:00

Merry Christmas BONES698

[hermana3] 22/12/2020 07:27

But he does try oh so hard to sow layers of doubt and is a real nasty yoke to boot...

[toolpusher1] 21/12/2020 22:01

Sorry bones but you know sweet F all about drilling.

[bones698] 21/12/2020 19:32

Tool pusher aptly named . Choke size won't make any difference to drop off in flow rate and if your telling me technology has overcome compartmentalisation then your obviously totally clueless . There's only one way to resolve that issue and it's extremely costly and requires constant work which would make the field uneconomical and that's been my point all along or are you unable to read .
Quite obviously the share price is showing people who the market thinks is tight and who is wrong and let's just say your not looking favorites .

The biggest question that needs answering is will they ever find the 166m to even begin work and for me the odds are slim to start with that's before they got other problems . Share price says it all but some idiots clearly can't read a graph . All this after the deal was announced enough said m

[terminator101] 19/12/2020 11:34

Fully funded 🤣🤣🤣🤣9315;

🤡 the only thing they are fully funded to do is keep taking their overinflated salaries. It’s going to be years and years before shareholders see any return here, and that’s assuming that there they can get barryroe to be commercial. Despite all the drilling in the past, why have none of the big boys come and snapped this up yet 🤔

Headed back to sub 0.5p IMO which once it dips below 1p will accelerate as PIs panic

[toolpusher1] 17/12/2020 17:43

Also bones if you know so much can you please tell this board what diameter the chock was set at when the flow rates droped I suppose you'll have to goggle that as you never worked with a drill crew .

[toolpusher1] 17/12/2020 17:28

Wrong again bones modern technology so thats sorted , that's if what your saying is correct.

[bones698] 17/12/2020 16:42

Ceph your making yourself look less and less credible with total lies

No debt really suggest you actually do some research into the company you own shares in for once . No wonder like so many you are losing money in this company when you don't even know the basics .

None of it changes the problems with the field itself and why everyone who has drilled it has walked away . Why would any company go to the expense of 25m to drill a well and hit oil they went looking for only to then walk away as fast as possible .

Let me tell you why because the flow rates drop off so fast due to compartmentalisation it makes the field totally unviable . You have never been able to get your head around the issues and costs but then again that's why you are losing your money .

[paulo435] 15/12/2020 21:56

“Lansdowne Oil & Gas PLC (LON:LOGP) has extended the payment date of its £1.16mln loan. The loan was due to be repaid at the end of this year; under the new terms, Lansdowne will immediately repay £175,000, with the deadline for repayment of the remainder extended to the end of 2021.

As part of the new arrangement, the North Celtic Sea focused, oil and gas company will issue the lender – LC Capital – 26mln warrants to subscribe for new shares in the company at 1.2p a share. If not exercised, the warrants will expire at the end of 2021.”

[hoper2] 15/12/2020 12:41

Fully funded to survive for a while - nothing more.

[cephalosaurus] 15/12/2020 11:48

Forgot to add -
- Fully funded
- Money on the balance sheet
- No debt
- Mates rates loan from investor with extremely fluid repayment date

[cephalosaurus] 15/12/2020 11:29

Since the 1970's -
Lower costs of extraction
Modern technology, vacuum insulated tubing
3D seismic pinpointing source rock and negating compartmentalization concerns
Extended licence reach
...etc etc etc

The list goes on to answer all Name Caller's questions, to which he knows the true answers to, and which we have all answered again and again.

[steelwatch] 15/12/2020 10:42

Deep in oversold territory now with the loan repayment can kicked further down the road and sufficient cash for another year.

[terminator101] 10/12/2020 16:34

Getting dumped hard here. Bounce on technicals, but its fundamentally in a down channel.

[steelwatch] 10/12/2020 16:23

Took a small initial punt on these earlier thanks to a spot of dividend arriving today. Let's see if this little mouse can find its roar again in the year ahead.