Providence Resources Share Discussion Threads

[bump3r] 24/11/2016 23:02

Herm. Even Cilla would approve.

[hermana3] 24/11/2016 22:55

Bump,It would be a nice surprise alright!

[bump3r] 24/11/2016 22:48

Was that a copy n past johnno?Was a good first effort if not.I'm pretty much convinced a Barry farm in is on tee way before Xmas whatever the situation. (Chart)Feeling in the big toe. Which is pretty accurate nowadays. More than the brain sometimes.

[johno99] 24/11/2016 22:20

Dynamically positioned rigs generally cant drill in less than 500m of water, due to issues with not being able to maintain station with a high degree of accuracy relative to the wellhead. The shallower the water the better the station keeping needs to be, down to the angle with the marine riser.

[ngms27] 24/11/2016 21:41

Why wouldn't it be capable of drilling Barryroe then?

[steelwatch] 24/11/2016 21:29

Barryroe is c.85m water.

[ngms27] 24/11/2016 21:20

Steel, fair comment I take it Barryroes deep water then?However I still don't agree that a sidetrack would constitute a slot...They must have other potential plans.

[steelwatch] 24/11/2016 21:05

herm - stratospheric? LOL. Has de Icemax turned turtle?

[steelwatch] 24/11/2016 20:56

ngms - Stena Icemax definitely won't be visiting Barryroe! Check the water depth...

By sidetrack, I'm talking about Drombeg which is twice the TD of Druid, but is dependent on a partner picking up the tab.

[hermana3] 24/11/2016 20:30

Westie, GD aint tipping much into the barber's hat! Listened to a Geo talk of the challenges of a stratospheric drill but reckon Schlumberger know more than him.

[westmoreland lad] 24/11/2016 19:28

Herm re. 42712. Whist I'm no longer a lad, I am happy to still boast the need for a barber -- unlike some - lol

Agree with some above -- Thanks to the lord there is now a strong case for a recovery here, going forward.
Might even have to dig out the prayer mat / potty and hip flask !!

[funtimejonny] 24/11/2016 18:15

Interesting point of view

[ngms27] 24/11/2016 18:06

Steel, I disagree, the second slot's an option for Barryroe or appraisal of Druid, I'm sure that one slot covers a sidetrack if required. (Well that's normally the case)

[hermana3] 24/11/2016 17:15

Now the real search for a partner begins!

[steelwatch] 24/11/2016 16:34

zh - need a partner to fund the extra cost of sidetracking, but the option is in the rig contract.

[zhockey] 24/11/2016 16:26

So they have enough funds to drill Dromberg as well?

[funtimejonny] 24/11/2016 15:46

Dont expect it to too too much compared to rig cost, but will be a few bob nonetheless.

[phoebusav] 24/11/2016 15:12

Thanks for the insight. No industry experience myself, so I can only go on the data provided. Can you be more specific so we get get a more accurate estimation? Even if it's double the cost, £20M for Druid and Drombeg seems a small sum given the size of the prospects. Cheers.

[ngms27] 24/11/2016 15:06

phoebusav, support costs often equal the drill ship cost so you are waaaaaaaaaaaaaay out unfortunately.

[greatfull dead] 24/11/2016 13:52

Phoeb,

I all ready done that with PVR operations which are many, though most are not that close together. With the exception of those unknowns/unamed near Dunquin and probably Spanish Point. The remainder with the exception of Barryroe and stand alone as far as I can make out.

ATB,
GD

[hermana3] 24/11/2016 13:48

FTJ,Is Daddy going to climb out of his Chateau hammock? A right old Houdini he is...

[funtimejonny] 24/11/2016 13:31

Yes indeed. Interesting timing for the rns. Daddy making a comeback tomorrow methinks. Then it's bang bang bang and boom boom boom!

[hermana3] 24/11/2016 13:23

Phoeb, Druid will draw in the gamblers for sure. Exxon's upcoming drill in Liberia has seen the hungry chomp into COPL. His Lordship has his barber filling his boots too....

[phoebusav] 24/11/2016 13:11

Maybe be you need to compartmentalize PVR operations and their effect on the share price All the focus for now will be on Druid, which should have a very positive effect on the share price Barryroe can come later, although any news on that score can only be but positive, being a farm-out or rig contract. I know it's hard for long term shareholders, but now is the best opportunity in a very long time to trade into a much better position if you need to, so focus on Druid. Best of luck. :D

[funtimejonny] 24/11/2016 13:08

Shhh. It's cool GD!