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[cephalosaurus] 08/3/2017 09:50

Means Drombeg is going to be drilled. What a terrific piece of news.
Two rolls of a high probability 2 sided dice.

[timberwolf3] 08/3/2017 09:47

Providence has signed a Farm-in Agreement ("FIA") with Capricorn Ireland
Limited ("Capricorn"), a wholly owned subsidiary of Cairn Energy Plc
("Cairn") over FEL 2/14 with an effective date of July 1, 2016.

Does that date indicate when discussions with Cairn started ?

[steelwatch] 08/3/2017 09:11

DAVY VIEW

The news that Cairn has agreed to farm into Frontier Licence 2/14 in the Porcupine is positive for Providence. Cairn Energy is a pedigree explorer that is already familiar with the basin and its entry points to the quality of the Druid/Drombeg targets.

[stockriser] 08/3/2017 09:07

a price monitoring ext at 0900hrs - don't see that very often, its usually after the 1630hrs bell!!

[hermana3] 08/3/2017 08:52

thev,Seems focus on Druid/Drombeg for now. Success there opens up all kinds of possibilities for Barryroe. O'Sullivan will be keen to prove it up and prove the naysayers wrong.

[thevoid] 08/3/2017 08:36

herm - some good people on this thread ... wish you all that I wish for myself ... or something like that.
Special request for kick-ass Pat - don't forget Barry

[funtimejonny] 08/3/2017 08:33

Agree Stock. The news hasn't even made it into the papers yet. Only people who know so far are diehards like ourselves.

[stockriser] 08/3/2017 08:27

come on cgod, it's only 0827hrs ;-)

[hermana3] 08/3/2017 08:19

thev,Been a long wait for something positive here. That Schlumberger report receiving further validation and TOR hinting that they may farmdown more if the deal is right. Cairn have nailed down Operatorship so no biggie will want in.

[cgod] 08/3/2017 08:19

Expected a bigger rize this morning!!!

[rogerlin] 08/3/2017 08:17

Surely Icemax could fit in a little drill on Spanish Point after Druid. A bit overspecified for 400m of water depth but it could probably do that in a fortnight?

[hermana3] 08/3/2017 08:16

Cep,Looks like Cairn want to turn Ireland into another multibasin empire after India and Senegal.

[thevoid] 08/3/2017 08:13

Last to sign the register this morning, but no less pleased than you all. Brilliant.

[hermana3] 08/3/2017 08:12

Who's laughing at 20p by St Patrick's Day now?

[cephalosaurus] 08/3/2017 08:10

Ftj. I think you may be into something there...only 8.08 am and plenty of time for interest to build. When i opened advfn chat just now and saw 20posts, i thought ...oh no! Nice surprise.

[stockriser] 08/3/2017 08:08

Lets get that little gap filled and move on!

[funtimejonny] 08/3/2017 08:06

Wouldn't want to be out of this one over the weekend! Last chance to load up here before this shoots past 20 I'm thinking.

[ny boy] 08/3/2017 08:05

Just tuck these away, 700p by end of June

[rogerlin] 08/3/2017 08:04

The 53/6-A well is planned to spud in June 2017, subject to the necessary regulatory consents, using the Stena IceMAX drill ship targeting both large stratigraphic traps, Druid and the deeper independent Drombeg target. This will result in the planned well, in 2,200m water depth, being deepened from 3,900m to 5,200m.

This is from the Cairn release. They seem to be optimistic of getting their held back dividends from Cairn India, maybe why they are feeling more confident now.

[zhockey] 08/3/2017 08:02

Fantastic news!!!!

I said Druid would farmout before Barryroe

[funtimejonny] 08/3/2017 07:55

I've had another read of the RNS. I'm no expert but it looks like the company have achieved a good result here and have not been shafted....which I'm "delighted" about. This takes away a lot of pressure on the company's cash resources while still holding on to a very decent slice of this enormous asset. I'm hoping that this will have a kind of domino effect and that the powers that be at PVR will move forward rapidly with Barryroe as this is now an affordable undertaking, albeit a challenge for Lansdowne absent a farm out.

[timberwolf3] 08/3/2017 07:54

This
licence has attracted considerable interest and we continue to discuss
possible further equity divestment with other material industry players.

Does he mean barryroe ?

[hermana3] 08/3/2017 07:40

Opening spread of 16-16.25?

[stockriser] 08/3/2017 07:40

I think wee dave has recently been a secret hoarder, but will be having a clearout in the not too distant future!