Providence Resources Share Discussion Threads

[greatfull dead] 01/11/2018 19:29

Yep...

Good to see for now.....

ATB,
GD

[hermana3] 01/11/2018 19:12

Good day for The Barryroe partners!

[funtimejonny] 01/11/2018 16:04

Steel....Great timing by Tony.

[papillon] 01/11/2018 15:47

Based on the PVR chart and Elliot Wave Theory I'd say 25p is a reasonable share price target in the short term. Not saying that the share price will hit 25p within the next few months, but it looks possible based on the chart. The PVR chart has been particularly bullish for over 6 months. A chart just records market sentiment towards a particular company and market sentiment for both PVR & LOGP is currently very bullish.

[trulyscrumptious] 01/11/2018 15:09

Nice to see another little rise but I am really expecting a 5 - 10 bagger from here and it won't be until next year when some real excitement should begin. That said, every little helps.

[steelwatch] 01/11/2018 15:01

Providence Resources reaffirms overseas ambitions

[funtimejonny] 01/11/2018 14:44

First class presentation over on LOGP site.

[gunsofmarscapone] 01/11/2018 13:39

Barry, Kaspersky? Do you read the news?

[ngms27] 01/11/2018 13:23

Where's the Rns that points to the deeper discovery below the Barryroe field?

[abudhabi123] 01/11/2018 12:27

From Jimmy23 0n iii


Jimmy23 31 Oct 2018

Corporate update Pvr issued a corporate update to day and I recommend investors to read it. Most importantly there is more clarity on the four wells to be drilled at Barry roe including a deep well to test the lower oil below Barry roe which has 788 million bbl of proven 2c resources oil in place. Flowing testing of this deep target which has already been drilled will allow providence to determine how much is recoverable oil by flow testing this zone which was not done previously . Using a 30% recovery factor this could add another 200 million bbl of to the main barryroe oil of 346 million bbl equiv.the purpose of the drill program at Barry roe is to provide the detail for the field development plan. Incredible value to be had here based on Barry roe alone, all of which has been validated by a farm out which will fully fund the drilling of up to six wells. Low risk investment opportunity in a high risk industry. Jimmy

[bump3r] 01/11/2018 12:25

Always have a read of Jimmy's posts on III
This was a good read about Barryroe drilling he posted a few weeks back

It appears that deep Barry roe is mature for light oil from lower Jurassic source rocks. The seismic for Barry roe shows that there appears to be a large structure at the Jurassic level. The question is what reservoirs are present at that depth. The Helvick oil field on the northern side of the basin encountered 42 foot of Jurassic reservoir and combined with a limestone reservoir at that level flowed at 9901 bbl per day. So if those reservoirs are present in deep Barry roe then you are looking at very big reserves, potentially high flow rates, and such reservoirs could act as the basis for field development project finance .
This is exploration.
The wells to be drilled by pVr starting about six months are mostly appraisal wells in Barry roe, and investors should ask themselves what is the purpose and risks of those wells.
There are already six wells drilled on the Barry roe oil field which proven the presence of the oil and its flow rate characteristics and established the oil water contacts in the field. All of which have been independently verified in a competent persons report. So why drill more and why was Barry roe not developed before this.?
In my view, which I hold for a very long time, the problem relates to the fact that the Barry roe reservoirs are very thin and until recently were below seismic resolution, so the mapping of the reservoirs was previously performed by mapping the next deepest rock that could be identified on the seismic and this gave a good approximation of the location of the reservoir . Unfortunately such mapping was not detailed enough to identify very small faults, which if present could compartmentalise the field and make the placing of development wells difficult or near impossible . This problem was caused by a seismic signal called a multiple which was caused by the presence of a thick chalk section below the seabed. Fortunately new technology used by a company called seismic image processing has been able to remove the seismic multiple and the barryroe reservoirs have been mapped directly and the intra reservoir faults have been mapped for the first time. The calibration of the new seismic has used six wells drilled to date in Barry roe and the drilling of another five wells will provide a huge data base to calibrate the seismic for field development purposes. So these forthcoming wells are really pre development wells and not exploration as the field is already defined, and hence the risks are very low.
In addition, direct mapping of reservoirs is essential for the purpose of drilling and directing horizontal production wells in a thin reservoir as you need to know precisely where to place the horizontal portion of the well. This new seismic will allow that to happen and the drilling of the horizontal well will demonstrate this. Furthermore, the flow testing of a horizontal will indicate the production capability of such a well for development planning purposes.
With so much low risk data to be collected, it’s hard to see the development of Barry roe not proceeding, which creates an incredible investment opportunity, which has been validated by the farm out. Pvr has 40% and no cash expenditure to get Barry roe to a development decision . Hence Pvr and lansdowne are now incredible investment opportunities. Valuations are extraordinarily low.
Jimmy

[steelwatch] 01/11/2018 12:14

Nowt new to us here:

[funtimejonny] 01/11/2018 12:01

Must be...not about the LOGP RNS to be sure!

[steelwatch] 01/11/2018 11:58

Ftj - can only assume he's talking about the Oil Capital presentation above?

[funtimejonny] 01/11/2018 11:10

Jimmy posted on iii site 11 hours ago. Refers to an update. Not sure what he's on about. Good read anyhow.

[papillon] 01/11/2018 11:04

sp rising nicely now lads!

[funtimejonny] 01/11/2018 09:35

Hmm...will check it out later today.

[billy_buffin] 01/11/2018 08:59

FTJ LOGP couldn't find it! Presume not posted.

Edit: Currently blocked by Kaspersky 'Threat of Data Loss'

[funtimejonny] 01/11/2018 08:50

Did he offer you a hit on it?

[hermana3] 01/11/2018 08:22

Jonny, Cairn had a stand at Atlantic Ireland but dude on the stand could not explain why sfa has been happening with Spanish Point for years. Poor lad must have had a spliff as he was very sleepy indeed....

[funtimejonny] 01/11/2018 08:11

I notice that ne'er a mention of Spanish Point by Tony. Anybody read the new presentation announced today over at LOGP?

[hermana3] 01/11/2018 08:09

1cag, Prepare for some Dunquin Delight!!!

[1cagney] 31/10/2018 19:00

Herm I disagree. If Newgrange is pushed out the only catalyst is rig mobilization in Q1 2019 at the earliest. I hope I'm wrong tho.

[hermana3] 31/10/2018 18:51

GD, Some are busy placing their bets here. Bet it will be 25p by year end myself....

[greatfull dead] 31/10/2018 16:58

Place your bets



GLA,
GD