Providence Resources Share Discussion Threads

[hermana3] 30/10/2019 19:52

Steel, Is Tony in hiding in plain sight?

[steelwatch] 30/10/2019 15:53

Herm had the hiccups posting the link above and accidentally pasted it twice:

[ddz6006] 30/10/2019 14:10

But I though PVR/LOGP were the leaders in offshore Ireland....

[funtimejonny] 30/10/2019 11:49

So I gather. Hope the outcome goes as predicted.

[fiachra] 30/10/2019 11:41

Hughie gave the best talk.

[fiachra] 30/10/2019 11:39

They did not. No sign of Hermana either

[funtimejonny] 30/10/2019 11:26

Anybody know if PVR or LOGP are makimg a presentation at the conference? It appears that EOG have done something along those lines?

[roadster750] 30/10/2019 07:51

The majority of Irish-focused oil and gas companies are still planning to invest in their operations here despite the Government’s intention to phase out oil exploration, more details of which are expected to be released in the near future.

Addressing the annual Atlantic Ireland exploration conference in Dublin, minister of state Seán Canney said more detail on the Government’s exploration policy will be forthcoming shortly. He said the Government will act swiftly to provide certainty for all interested parties.

Last month, Taoiseach Leo Varadkar told the UN climate change summit in New York that the Government will act on advice from the independent Climate Change Advisory Council to end oil exploration off the coast.

However, detail has been in short supply and timeframe, what it means for existing exploration licences and how companies might still be able to drill for natural gas while avoiding discovering oil, remain unclear.

The Taoiseach’s message to the UN has also seriously eroded confidence among explorers active in Irish waters.

PwC’s latest annual survey of the sector found that just under 80% now rate the outlook for the Irish oil and gas industry, for the next two years, as unfavourable compared to 22% this time last year.

“The Government’s recent announcement on plans to phase out oil exploration in Irish waters has caused major concern and uncertainty in the industry, though it was noted that exploration for natural gas would continue ... but it is clear that Government needs to take steps to reassure the industry,” said PwC Ireland’s lead partner on oil and gas Ronan MacNioclais.

“It is acknowledged that, as a nation, we need to transition to low carbon fuels as well as renewables, but this will take time,” he said.

Mr Canney said at the Atlantic Ireland conference that gas is an important transition fuel and that a secure gas supply is a priority.

British exploration company Europa Oil and Gas, , which has six licences off the west coast of Ireland, used the conference to announce that it hopes to conduct a site survey of its flagship Inishkea gas prospect, near the Corrib field, next summer, with a view to drilling during 2021.

Farmout talks, with numerous interested parties, are ongoing, the company said. Last month, Europa’s chief executive Hugh Mackay said that he was confident of finalising a development partner for the company’s Irish assets before the end of the year.

PwC’s survey found that 46% of exploration firms are finding it difficult to source development partners for their Irish prospects and that their discontent with the Government and industry regulators — mainly concerning delays over project approvals — has become more pronounced over the past 12 months.

All respondents, up from 16% a year ago, said that they are planning to invest in exploration in Ireland over the next two years and nearly 60% said they were optimistic about reserve levels yet to be discovered in Irish waters.

“To ban drilling for oil seems like a risky approach as it makes Ireland dependent upon continued supplies from other countries, particularly at a time of geopolitical uncertainty, and it would do little to reduce our carbon footprint,” said Mr MacNioclais.

[divmad] 30/10/2019 07:24

Can't open it.

[hermana3] 29/10/2019 21:17

Jonny, Wee Baldy will be at the Oil and Gas Conference today and tomorrow.

[funtimejonny] 29/10/2019 14:52

Hmm...good few buyers over at LOGP today!

[hermana3] 29/10/2019 07:04

Jonny seems tanned Tone is still dreaming of a Chinese miracle!

[funtimejonny] 29/10/2019 05:20

Well..whatever you say about Manyana or whoever he is, fact remains thst it looks like 50% of Barry has (for the moment) been assigned to APEC! I am speculating that unofficially they have been given an extension on the last deadline. Maybe to end October?

[hermana3] 28/10/2019 22:30

Wow always a contrarian. Oil and Gas Conference starting early doors and can Europa or Providence provide some good news on the farmout front this week?

[abudhabi123] 28/10/2019 21:03

Herm Recent Sobeit/Manyana's posts are very much in favour of TOR, contrary to what they used to be in the past.

[hermana3] 28/10/2019 20:28

Sobeit/Manyana is full of hot air and more than a wee bit embittered with O'Reilly too. He has plenty of support on ousting sitting CEO now of course....

[contrarymary] 28/10/2019 20:02

His posts get mentioned here a lot. Is he in the know?

[gunsofmarscapone] 28/10/2019 19:04

Think I remember! Bit of a turkey? Self important?

[abudhabi123] 28/10/2019 18:49

FTJ Manyana is our old friend of some years ago on iii...... whom we knew as SOBEIT!

[steelwatch] 28/10/2019 12:39

From the announcement 1 October 2019:

Without prejudice to any other legal remedies that the Company may have, the Company has now advised APEC that it will commence with the licence reversion process of APEC’s 50% working interest in SEL 1/11 to EXOLA and Lansdowne on a 40% and 10% basis, respectively. Additionally, APEC have been advised that APEC no longer retains exclusivity and that the Company is now free to open up commercial discussions with third parties on the Barryroe asset. Further announcements will be made in due course.

The next dccae quarterly acreage report will be up to 31 October, (actual publication date probably later than that), which might be too soon to reflect APEC's withdrawal.

[funtimejonny] 28/10/2019 10:08

A guy called Manyana posted this link to the DCCAE website over on the LSE board.

Proof that APEC has the 40% Exola shares and was approved by the Minister can be found at page 4 of the following license list and participants.

hxxps://www.dccae.gov.ie/documents/Acreage%20Report%20at%2030%20June%202019.pdf

A bit bloody strange that the holding has apparently been transferred to APEC, without the funds being handed over. Presumably this can be reversed, but I'm surprised it hasn't been remedied by now

[hermana3] 27/10/2019 10:20

Jeez they both are deluded dreamers who are bought and sold on a daily basis

[seangwhite] 26/10/2019 23:07

The sun tanned one should ring Boris for a few words of wisdom. Both are so good at growing value for their respective cohort of shareholders.