Providence Resources Share Discussion Threads

[funtimejonny] 13/7/2017 13:39

Demand satisfied for the day? Has gone a wee bit quiet or is this just a pause for breath?

[steelwatch] 13/7/2017 13:26

harrissen - nothing wrong in trading this or any other share is there? Some may be trying to get their average lower in the process. Also, I see nothing wrong in anyone posting technical "claptrap" to while away the hours, so please take a deep breath and chill.

[bump3r] 13/7/2017 13:23

You're right

[stockriser] 13/7/2017 13:18

Bump - when I looked yesterday it was available from 3Q 2017 - that was on their fleet avilability page.

[harrissen] 13/7/2017 13:15

steelwatch
13 Jul '17 - 12:26 - 49116 of 49121 1 0

harrissen - why so abrasive?

.................

Some of the posters on here complain about the share price while at the same time trading it for buttons every time it moves up a fraction - that annoys me.
Plus an endless supply of technical claptrap from our resident Google Warrior which I also find pointless.
That said I believe you run a very tight ship here - one of the best BBs on ADVFN in fact!

[ianio5691] 13/7/2017 13:05

Ha Ha...!! You pinched me punch line FTJ...:-)

He has the chip on his shoulder of a little un

[funtimejonny] 13/7/2017 13:02

No...I met him once. He's 6 foot 3 inches

[ianio5691] 13/7/2017 12:59

Harrissen- are you short...?

[peaeff] 13/7/2017 12:48

hear hear !!!!!!!! well said steel.

[bump3r] 13/7/2017 12:40

Icemax is booked out till second quarter next year. (According to their website)I'm not sure whose contracted it after the Druid drill.

[isef0001] 13/7/2017 12:38

stock: ha!Ha! You obviously looked through the specifications and could't find anything either. Never mind,when I get a bit more time I might troll through some more articles (mainly because the topic has taken my interest) If I find anything really useful I'll post, if not I won't, but likely to lose interest before long. Cheers.

[steelwatch] 13/7/2017 12:26

harrissen - why so abrasive?

[stockriser] 13/7/2017 12:26

Thanks again Isef - it's quite a daunting task trying to find out the minimum depth Icemax can operate at. I know there are some vessels which have dynamic positioning with an alternative mooring system for shallow-water operations but I dont think the Icemax has such a specification. Although I believe 'shallow water' for such vessels refers to depths of 40-60mtrs.

Barryroe is at a depth of 100mtrs so perhaps she is well capable of that using the DPS.

[harrissen] 13/7/2017 12:18

isef0001
13 Jul '17 - 12:00 - 49113 of 49113 0 0

stock: Yes! just read the wikipedia one. My take on it is that the statement of advantage for DP of "Not dependent on water depth" appears to be in relationship to the disadvantages of the barge jackup and anchoring methods which both state they are depth limited. Depends how one reads the context I suppose. Anyway, if it is feasible to use the ICEMAX FOR BARRYROE and they decide to do so, no doubt we'll hear about it in good time. Cheers.

...........................

Penny finally dropped?

Good!
Now I suppose it is on to the next bit of worthless information to be discussed in depth by our resident Google WARRIOR

[isef0001] 13/7/2017 12:00

stock: Yes! just read the wikipedia one. My take on it is that the statement of advantage for DP of "Not dependent on water depth" appears to be in relationship to the disadvantages of the barge jackup and anchoring methods which both state they are depth limited. Depends how one reads the context I suppose. Anyway, if it is feasible to use the ICEMAX FOR BARRYROE and they decide to do so, no doubt we'll hear about it in good time. Cheers.

[funtimejonny] 13/7/2017 11:46

So is the conclusion that the icemax could be used...possibly with anchors? It's such a powerful beast it could drill an appraisal well in a matter of days I think,all other things being equal.

[stockriser] 13/7/2017 11:44

Thanks isef ;-)

[zhockey] 13/7/2017 11:35

Freelunch,

Your view on Barryroe sums up the current valuation and the opportunity.

[harrissen] 13/7/2017 11:33

From Wikipedia, the free encyclopedia


Dynamic Positioning

Advantages:

Manoeuvrability is excellent; it is easy to change position.

No anchor handling tugs are required.

NOT DEPENDANT ON WATER DEPTH !!!!

Quick set-up.
Not limited by obstructed seabed.

[ragewarrior] 13/7/2017 11:32

45-60 would be for both Druid & Dromberg would it not ?

[isef0001] 13/7/2017 11:31

stock: I found this which may help. hxxp://offshore-fleet.com/data/drillship.htm
From above link:
A proper mooring system on a drillship is integral to drilling successful wells. In shallower waters, drillships are moored to the seafloor with anywhere from six to twelve anchors. Once the water depth becomes too deep, drillships depend on dynamic positioning systems (DPS) to keep the vessel in place while drilling. DPS relies on several thrusters located on the fore, aft and mid sections of the ship, which are activated by an onboard computer that constantly monitors winds and waves to adjust the thrusters to compensate for these changes. Sometimes, both positioning systems are used.

So perhaps it possibly could be used if anchored over B/R. The information I was initially given re DP also appears to be supported. No doubt there are other articles available. Cheers.

[freelunch] 13/7/2017 11:29

Which decade?

[zhockey] 13/7/2017 11:23

I suspect Barryroe will end up being 1Bn recoverable. If PVR retain 40% and production gets to 200k bopd then that's $700M to PVR per year, based on $50 oil.

[panadin] 13/7/2017 11:19

A story on pvr in today's Irish Independent notes that drilling operations are expected to take between 45 and 60 days.

[funtimejonny] 13/7/2017 11:07

Anybody recall what the estimated volumes for the Jurassic & Triassic layers were at Barry? This may change of course with further analysis of the reprocessed 3d seismic. I think the company put out some initial estimates quite a few years back...