Providence Resources Share Discussion Threads

[1cagney] 04/4/2017 17:04

nyboy I hope you haven't started spending your expected riches quite yet.

[ny boy] 04/4/2017 16:55

700p by end of June

[funtimejonny] 04/4/2017 16:54

But for who old friend...I ask myself...there's not been a lot of either in this poor auld household for a few years now.

[hermana3] 04/4/2017 16:24

If he brings in Druid he will have no shortage of offers for Providence. Bet he has a "Golden Parachute" in place as he is likely to be first in the line of fire when a takeover is completed. Will be Chateaubriand and Chateau Lynch Bages all round late July....

[funtimejonny] 04/4/2017 14:37

The poor fellow is a saint. Looking at the shots of his home in Malta he has little to console him when he comes home from a hard days work at the office and surveys the fruits of his achievements.

[1cagney] 04/4/2017 14:32

Yeah ZH he looks totally beat-up.

[zhockey] 04/4/2017 14:18

ToR probably has one eye on retirement. It's been a tough few years for him.

[greatfull dead] 04/4/2017 14:00

Herm,

I personally would prefer to see PVR go it alone. More money long term IMHO.

ATB,
GD

[hermana3] 04/4/2017 12:30

GD,I think it will get taken out after Druid/Drombeg for a big number. The next partner in this drill could turn out to be a Supermajor and a prime candidate to take over Providence post drill.
In today's piece in The Examiner Toye is quoted as saying " we are happy with the interaction with farmin partners". Is it only a case of which one is announced first?

[greatfull dead] 04/4/2017 12:17

Herm,

Re your post on Marginal Field Development in The Celtic Sea. I truly believe we will get news on Helvick sooner than later.

Re your post on our new Chairman. Since Pat has joined PVR there has been a very positive affect on how PVR does its business.

I would not be surprised in say 4 to 5 years PVR will be an full operating oil and gas company, not just an exploration company.

ATB,
GD

[hermana3] 04/4/2017 11:46

GD, For years PVR have had potential and soon that potential will be tested with the drillbit. Coincidental or not things started to change when respected industry figure became Chairman. First time Providence have had a Chairman who knew anything about how the sector works. Old Hillery was a pleasant sort but was badly lacking in experience and understanding of any kind in the sector and was seen by the markets as a grovelling figure to Sir Anthony and his voice on the Board.

[hermana3] 04/4/2017 11:39

GD,Hopefully we will get an update on Marginal Field Development in The Celtic Sea from the Operator before too long.

[greatfull dead] 04/4/2017 11:35

Herm,

Your probably correct there. But the way PVR are performing as a company (PROACTIVE) I think we just may see Newgrange drilled in 2018. PVR have really change IMHO to an excellent small oil company.

ATB,
GD

[greatfull dead] 04/4/2017 11:31

Stockriser,

Thanks for that. It does show something near Hevlick. Thinks can only get better IMHO.

ATB,
GD

[hermana3] 04/4/2017 10:57

Well Newgrange for 2019 then?

[isef0001] 04/4/2017 10:25

Steel: Yes! I've been looking deeper into it and the Schlumberger results announcement and the 2016 interims only mentioned the 2014 2D long offset survey for Newgrange.

GD: Looks like you were right.

[stockriser] 04/4/2017 10:15

Aye Fugro Searcher was up to something near Helvick

[steelwatch] 04/4/2017 10:05

The 3D survey isef recalled above which PVR intended purchasing data for Newgrange didn't happen.

[1cagney] 04/4/2017 10:00

GD The ship was contracted by PVR do do a survey of the Sea floor for Druid Drombeg. That seems to be completed now sjnce last week. However it also took a little survey near the helvick field, and unless they were just training someone contracted them to do this ...

[greatfull dead] 04/4/2017 09:44

Has anyone got any idea what the Fugro Searcher has been doing on behalf if PVR, if indeed it is doing work for PVR. There has been no announcements to say its on hire to PVR. If there is I have missed it big time!

GLA,
GD

[1cagney] 04/4/2017 09:37

Ceph the article repeats the word used in the RNS 'imminently'.

[cephalosaurus] 04/4/2017 09:13

They started already FTJ?

[funtimejonny] 04/4/2017 08:35

There is an article in today's Examiner about the latest seismic shoot now commencing off the western coast...

[stockriser] 04/4/2017 08:26

GD - Thanks for the link. Even though I had previously read that information, it certainly reminded me why I am so confident that Druid/Drombeg is going to attract a lot of attention closer to spud, which may be as close as 8 weeks time!
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Speaking today, John O'Sullivan, Technical Director of Providence, said:

"These results from the Collaborative Project have confirmed the interpretation of two large stacked deep-water fan systems with associated seismic responses which are consistent with the presence of highly porous light oil bearing sandstone reservoir systems. Whilst our respective in-house technical teams initially generated and matured these prospects, our collaboration with Schlumberger has fundamentally 'changed the game' by leveraging proprietary technology and work-flows to de-risk significant hydrocarbon potential."

"The Druid prospect looks particularly attractive, given its size, resource density, shallow depth, modelled high porosities, normal pressures and beautifully imaged Class II AVO anomaly. The underlying Drombeg prospect adds further significant resource potential that is also AVO supported and which could be accessed with the deepening of a Druid exploration well."

"These targets are clearly highly attractive for drilling given the magnitude of the resource base together with the significant de-risking that has resulted from the Collaborative Project. In addition, the current rig and offshore services market adds the important further dimension of a highly attractive cost dynamic."

Karin Hoeing, UKG GeoMarket Manager, Schlumberger, adds:

"We have studied both the Druid and Drombeg prospects using our latest state-of-the-art analytical subsurface tools and confirmed that both prospects demonstrate the attributes that are consistent with the presence of large, light oil accumulations in porous sandstone reservoirs. We look forward to continuing our collaborative effort with Providence to ultimately progress these high potential prospects to the drilling stage."