Lansdowne Oil & Gas Share Discussion Threads

[hermana3] 26/2/2021 21:35

#Monday could be even bluer!!!

[amran01] 26/2/2021 17:01

Finally a blue day!

[daar] 25/2/2021 11:19

Bargain prices atm!

[kibes] 24/2/2021 09:22

Spoton probably quite happy to see LOGP price drifting down. With a market capitalisation now only £10 million they would be daft not to take it out if they are serious about developing Barryroe.

[funtimejonny] 23/2/2021 11:09

Shareholders not flush with money!

[sportbilly1976] 23/2/2021 10:49

1.263p for 1mln

MM's still not flush with stock.

[sportbilly1976] 23/2/2021 09:24

Ianio,

LOGP is not on the list. PVR however is.

just to clarify - whilst the 100% margin reg comes into force on Friday, IG are closing the book on PVR via their spreadbet platform so ALL leveraged positions must close by 29th March latest...even if the customer could fund them at 100%.

[funtimejonny] 23/2/2021 09:04

Don't think this one is on the list....

[ianio5691] 23/2/2021 09:01

I suppose this, like a lot of other small caps is down due to the new 100% margin req and forced selling of CFD's by IG

[sportbilly1976] 23/2/2021 08:58

price drop yet no buy quote at 1.2p

150k-1mln at 1.2396

[sportbilly1976] 17/2/2021 08:08

Post from the PVR thread


roadster75016 Feb '21 - 22:51 - 63309 of 63311

Article posted by zephra on lse.
google translated from Norwegian so a bit patchy.
Dec 2020

"It is a large field and the estimates suggest that there is a lot of oil there. But you can never be completely sure until you've plunged your cop into the reservoir.

That's according to Jan Vatsvåg, chairman and second largest shareholder in the oil company SpotOn Energy.

Under the radar, the unknown Stavanger company has negotiated an agreement to buy half of the Barryroe field, located 50 kilometres off the southern coast of Ireland.

The field is considered to be one of the largest undeveloped offshore oil and gas fields in Europe.

Recoverable resources are estimated at around 400 million barrels, with a great potential for more discoveries with issued reservoir sections.

"It is a very interesting field," says Vatsvåg, pointing out that the quality of the oil is good with low viscosity.

Going to get money.

It is the Irish companies Providence Resources and Landsdowne Oil & Gas that are selling down in the field where SpotOn Energy now becomes operator, provided the deal goes through.

A final agreement contingents government approval and that SpotOn secures funding of at least $166 million - around kr1.5 billion - for the development's first phase.

The money will be collected in the Norwegian bond market. In this regard, Pareto Securities has been hired as a facilitator.

"The plan is to go into the market in the new year," says Vatsvåg.

However, the development requires more capital than that.

Providence has long tried to raise capital, but it has become increasingly difficult as investors' focus has turned away from oil and gas. Last year, among other things, an attempt with Chinese stakeholders.

"The problem is that you need much more capital than can be collected in the market in normal development. In our model, the capital need is significantly less from external investors and bondholders, and they get very good conditions," vatsvåg argues.


TO RAISE MONEY: Jan Vatsvåg is chairman and major shareholder of oil company SpotOn Energy, which is about to raise money for a major field development in Ireland. In addition, they are considering a field on the UK continental shelf.
Collaboration with giants

The way SpotOn Energy will solve the capital challenge is a close cooperation with suppliers.

"We have established a new model for field development by joining several of the larger oil service companies in a consortium that takes a large part of the expenditure. When the oil comes up, they get a share of the profits," says the chairman.

The consortium that will finance the development of the Barryroe field together with SpotOn are giants Schlumberger, Aker Solutions, AGR, Maersk Drilling, Keppel FELS, and Aibel.

"We envisage an early development so that we can start production. Then we can plan further for a major development of the field in the next phase," says Vatsvåg.

In addition to its own share, SpotOn Energy will finance Providence and Lansdowne's share of early development through a loan secured with future cash flow from production.

When the first commercial barrels of oil are lifted from the field, SpotOn Energy will receive warrants, which give the right to subscribe for 60 million shares in Providence Resources at 0.17 euros per share. On Friday, the exchange rate was 0.05 euros.

Early development includes four wells and floating production facilities. These will be linked to a floating oil production vessel (FPSO). The start of the campaign is scheduled for late 2022.

"What we have not landed on is which FPSO to use, but we are in negotiations with different companies.

Sniffs in British field

Barryroe is probably the last major field on the Irish continental shelf to be explored after Ireland last year put an end to further oil and gas exploration.

But it's not just the Barryroe field SpotOn Energy is working on, it's also under consideration.

"We have made an assessment of the costs of the development and are currently evaluating. We are not quite in the finish, but we are working on it," says Vatsvåg.

Bentley, located just east of Shetland, is considered to be the largest undeveloped field on the UK continental shelf. The field is who heleid by Whalsay Energy, which took over when its predecessor went bankrupt in 2017.

Since last fall, Whalsay has been looking for a partner. At that time, the company indicated that oil production could start in late 2023, reaching up to 45,000 barrels per day.

On the ownership side of SpotOn Energy Holding are a number of investors from Stavanger and Sandnes. The largest shareholder is Alf Ståle Helland, who is also managing director. He owns around 35 per cent, while Vatsvåg holds 25.3 per cent. In total, around 20 shareholders have contributed to the development of the model.

[sportbilly1976] 15/2/2021 14:48

couple of chunky buys today.

Per the Business Post article recently, the bond to be finalised this month...so just this week and next week to go

[hermana3] 08/2/2021 23:14

Chill,Cats and p5.

[catswhiskas] 08/2/2021 18:20

F off p5tvr you fowl mouthed disgusting individual just another imbecile who thinks they can use bully boy tactics without impunity on a bb.

[sportbilly1976] 08/2/2021 15:20

Around 20% still by my rough calcs using the Barryroe's 80:20 WI pro-rata as basis and PVR's current £60mln mkt cap at 6.8p

[rayrac] 08/2/2021 14:33

Hmmm, undervalued.

[sportbilly1976] 08/2/2021 12:54

RNS at PVR:

08/02/2021 12:50pm
UK Regulatory (RNS & others)


TIDMPVR


Providence Resources P.l.c.

Government consent for Barryroe site survey

Dublin and London -- 8 February - Providence Resources P.l.c. (PVR LN,
PRP ID), the Irish based resource development company ("Providence" or
the "Company"), is pleased to announce Government approval to undertake
a seabed and shallow geophysical survey and an environmental baseline
and habitat assessment survey, at the K-Site location, Barryroe, North
Celtic Sea, South West Coast within Standard Exploration Licence 1/11
("SEL 1/11") The offshore survey, when completed later this year, will
be the third in a series of surveys. The survey must be completed to
enable Providence Resources apply for any potential further works on the
K site location of the Barryroe field. Further regulatory approvals are
required before any commencement of drilling could take place on the
Barryroe Field. "

Comment from Alan Linn CEO Providence Resources. "With this approval now
in place we can begin the detailed work required to complete the
environmental and regulatory approvals for the appraisal and development
of the Barryroe oil and gas field, working closely with Irish companies
to progress the project. We will also be engaging regularly with the
coastal communities on the South coast, keeping them fully involved with
project progress."

[roadster750] 08/2/2021 09:06

There has been an 8.5% rise and the rns did no such thing, it merely stated PVR were not "currently" in merger talks. The news article stated there would be no merger talks until bond was sorted.

[catswhiskas] 08/2/2021 07:11

There will be no rise here today the weekend speculation has been quashed in an rns from pvr .Back to bed Guys !

[1horn] 08/2/2021 01:23

I don’t think SpotOn would propose a merger unless they knew they had the bond.

[czar] 07/2/2021 11:42

3p+ in the morning but worth buying/holding for a while 10% carry could be worth £200m in time 26p

[abudhabi123] 07/2/2021 11:32

https://twitter.com/MWAP80/status/1358350934091431941?s=08

[sportbilly1976] 07/2/2021 10:51

Merger in effect would all but guarantee financing in place for Berryroe - expect re-rate here to begin now