Providence Resources Share Discussion Threads

[steelwatch] 14/9/2017 15:58

Billy - interesting paper. Fortunately Barryroe does not have the deepwater challenges. More akin to what might have been, or may be, in the more distant future west of Ireland. Don't think I, for one, will be around when that comes to pass!

[billy_buffin] 14/9/2017 15:39

FTJ
It seems that all the best passed through JB at some time or other - never worked there! Jurong over the water was my patch for a year or so.

[billy_buffin] 14/9/2017 15:36

Hi Steel Yep:
that's right, but GD was asking possibility of shipping via maybe a tie-in to a future redundant p/line or a new one to Whitegate if feasible. Be expensive and a new p/line should really be insulated 'pipe-in-pipe'.

Can have 'wet trees' subsea also if circumstances permit! sounds dodgy if things go wrong

[steelwatch] 14/9/2017 14:58

Billy - wasn't the plan for the Phase 1 early production system based on using an FPSO offloading to shuttle tankers? FPSO could generate hot water for injection and also heat onboard storage.
Platform(s) and pipeline export Phase 2 and, maybe, 3, subject to eventual farminee's determination.

[funtimejonny] 14/9/2017 14:49

Indeed. I worked for JB me self years ago. And a few other O and G outfits. Happy days!

[billy_buffin] 14/9/2017 14:31

Yes but always danger of p/line waxing up in unforseen circumstances. Have to be careful eg double up on shipping pumps. Pig line before scheduled shutdowns etc

[funtimejonny] 14/9/2017 14:04

Surely they can cease production offshore for a bit in event of refinery outage?

[srvsrv] 14/9/2017 10:43

nice buying now - have we seen the lows - and the shorts closing their positions.

[langster] 14/9/2017 10:40

Ideal time for TO'R to give shareholders a real tonic by announcing his stepping down?

Wondering if Pageant are doing some arm twisting to that end?

srvsrv14 Sep '17 - 10:34 - 52874 of 52874 0 0
... the halfyear report is due in a week

[srvsrv] 14/9/2017 10:34

... the halfyear report is due in a week

[srvsrv] 14/9/2017 10:27

with the current marked cap of just the cash level the share price looks very discounted.

In a fire sale of the assets Barryroe should at least be valued of 100m(only 0,3 pr barrel!) - then plus the cash equals a share price of nearly 20p Then Spanish Point and the other assets which should be handled as Druid/Drombeg with farmouts so no cash effect - only upside with any findings.

Think the halfyear report next week will tell us the drilling plans regarding Barryroe - and at with drilling price it will be as the deadline for interested drilling companies was 30/8.

I have topped my holdings at these share price levels as I think the share price will go up from to the drill - and this drill is much more "secure" than the Druid/Drombeg.

And with the oil price now around 55$ the Barryroe case could/should attract farmiees.

[jotoha2] 14/9/2017 10:21

This is now in limbo land for many months , far better to put your monies elsewhere , Char is starting to move nicely ready for the big drill with ENI early 2018 , get in and enjoy the ride !1

[zhockey] 14/9/2017 10:10

Also what lies in the Jurassic at BR? A billion barrels of non-waxy sweet light crude?

[greatfull dead] 14/9/2017 09:04

Not really looked in here for sometime.

Question re BR. Would it not be possible to lay a subsea pipeline to Whitegate even if the oil is waxy from the discovery well or modiyy the existig platform to heat the oil and then transport it from plarform to Whitegate, and at later time drill more appraisal wells on BR

ATB,
GD

[funtimejonny] 14/9/2017 08:14

Herm. I notice he also had a dose of the sulks at the 2017 AGM. The poor auld divil has to struggle by on about 400,000 tax free now.

[billy_buffin] 14/9/2017 08:10

The world’s largest oilfield services firm has decided that it should take an ownership stake in upstream oil and gas production, rather than simply provide the services for doing so. The new strategy is being closely watched as a potential model for the major oilfield services companies that have drilling prowess but struggle with lackluster activity in a world of $50 oil.
Schlumberger..

[hermana3] 14/9/2017 07:28

Zh, He already feels hard done by with his 20% haircut until BR farmed out. Was nearly in tears at 2015 AGM when he announced it. Felt like slipping him a pony....

[zhockey] 13/9/2017 21:25

I think TOR should stay, but take no salary until BR is farmed out.

[katoema] 13/9/2017 19:45

Holed up in the Kiel Canal while the F10 passes through. Have Internet access now and seen what has happened with PVR! The thread is quite long to follow but the RNS zilch. Barryroe! K

[ride daice] 13/9/2017 19:11

TOR is TOAST imho.

[seangwhite] 13/9/2017 19:03

Offerman the problem at PCI was Big Brian and the problem here is TOR. Both men led their shareholders to massive loss of equity while taking large salaries for themselves.