Providence Resources Share Discussion Threads

[amran01] 15/2/2021 09:05

Surely it must be coming soon? Brent crude going up and we are stalemate until bond news lands.

[ngms27] 15/2/2021 08:51

Never say never again. The names bond, no bond.

[amran01] 14/2/2021 19:39

Drilling within H1 2022 would be ideal. But again, it depends on many factors. If Leo V does look in to it and Sleepy Ryan is on board, who is to say they will not fast track the rest of the approvals.. Alan mentioned delay due to new Irish gov and regulatory approvals. Once bonds are in place, I am sure the consortium will be ready and keen to make a move on it. The sooner the first oil comes in, the quicker they will pay those bonds back (assuming they have the bonds in place).

[steelwatch] 14/2/2021 16:36

Tell me about it, LOL!

[fatnacker] 14/2/2021 16:07

My experience with oilers is that everything takes three times as long as anticipated, bank on that and you won't be disappointed.

[contrarymary] 14/2/2021 13:04

Some great information being shared and circulated recently. Thanks to all. I am very hopeful that SpotOn will come up with the goodies to make this all possible but the time to prove it is now. Sh1t or get off the pot as they say. Personally, if there is nothing locked solid by the end of February I will be a little more worried and will be hoping that Alan Linn was shrewd enough to have a backup plan ready to go.

[raisethestake1] 14/2/2021 11:05

Oilman Jim today:
Providence Resources (PVR) issued a response to media speculation that it could be merging with SpotOn Energy (a £1 UK company whose only asset appears to be it’s agreement with Providence, which in turn is conditional upon SpotOn somehow raising $166 million). PVR denies that it is currently involved in any merger discussions with any party, but that it will continue to work closely with SpotOn Energy to deliver the necessary funding to develop the Barryroe asset. Funding of course has always been the issue with Barryroe and to date there have been plenty of deals to pump the share price, but no actual hard news of any money arriving. PVR, along with Lansdowne Oil & Gas (LOGP) also announced Government consent for the Barryroe site survey. This must be completed to enable Providence to apply for any potential further works on the K site location of the Barryroe field and further regulatory approvals are required before any commencement of drilling can take place.

[raisethestake1] 14/2/2021 10:52

With funding in place we can start the planning for the timeframes,rig slot booking , regulatory procedures equipment ordering etc. Things will fall into place and delays will be minimised.Projects cannot be run efficiently when our lefty and green friends are trying to throw stumbling blocks in the way at every opportunity. They could well be told to stump up for legal fees if they continue with their 'say no to everything' stance.A power outage or fuel shortage of two might bring those in power to their senses. They would do well to read the European papers on energy security which requires countries to have a supply in reserve. We ignored that when we sold Whitegate and Whiddy. Perhaps we can use the Kinsale depleted fields as a reservoir for storage.
On a different note I can find nothing of the connection with Spot on energy with the Bentley oil field off the Shetlands as reported last weekend by the SBP.

[p5tvr] 14/2/2021 10:20

I say by Q2 2023 if we are (very very) lucky.

[contrarymary] 14/2/2021 09:54

Very unlikely and not very realistic Amran. The regulatory process is slow and needs as Alan Linn says to be done properly. It is subject to challenge and in the current green climate will likely be contested vigorously. With finance and with all the necessary steps being completed properly we have a very good chance of progressing, but if history is anything to go by it will be a slower process than any one of us wants. Be patient and hopefully.....

[amran01] 14/2/2021 07:15

Early 2022 drilling is realistic now if the gov expedite the approvals. We need that funding in place in the next two weeks to pile on the pressure. Looks like sleepy Ryan can't just leave it on the desk anymore and has to acknowledge the real assets Ireland has.

[contrarymary] 13/2/2021 22:32

He appears to be well informed and has done his homework. It will be good to have a man of the local people pulling for us.

[raisethestake1] 13/2/2021 22:00

Good to have Deputy Michael Collins on our side and talking sense.He is an independent hailing from Goleen,west Cork and is classed as a man of the people.

[roadster750] 13/2/2021 21:47

At last a politician talking our language.

Dáil Éireann debate -
Thursday, 11 Feb 2021




Deputy Michael Collins
I thank the Tánaiste for his reply. Is he aware that there is a potential carbon-neutral development proposed off Barryroe in west Cork? There is the potential to develop a gas field which is not only capable of continuing the supply we currently have from the Corrib field but is also capable of delivering a unique carbon capture and storage facility in County Cork, which could make us leaders in carbon reduction. The Barryroe site and its development could create jobs similar to the Corrib site, which created more than 1,200 for people in the area. These jobs were in harbours, villages, hotels and shops in the local area. How can the Government simply discount that potential for County Cork and for the south west of Ireland? Several weeks ago we spoke about investment in the area and there is a viable offering with a capital investment of €3 billion, which has been marginalised because of political posturing.

With the withdrawal of the UK from the EU, Ireland is now more reliant on imported energy than ever before. Energy independence is further from our reach and the recent policy changes have severely curtailed our ability to develop indigenous natural energy resources that offer lower greenhouse gas emissions and greater energy security than the imposed sources on which we are increasingly reliant. The reliance is only one issue. Pricing will become a bigger one for families and businesses across Ireland as we become more marginalised in relation to our energy. There is the potential to have this Barryroe field up and running in a very short space of time if co-operation by the Government is forthcoming and everybody works together. This will be a game changer nationally and in south-west Cork. Will the Tánaiste ensure this happens? We cannot continue to import when we have it at our own doorstep.

[contrarymary] 13/2/2021 21:02

The daft bint was calling it Barrymore. Clueless leading the clueless.

[raisethestake1] 13/2/2021 20:30

That's right Brid,we are going to suck up all that lovely oil and gas. Go look for browny points somewhere else. If Ms Smith think this this does not help the country's energy security then she is delusional.The project will add to local job security in areas that she wouldn't ever understand.She would do well supporting any investment in Ireland at these troubled times. Her moaning days are numbered.

[contrarymary] 13/2/2021 20:22

Link from another board of the Dail debate. They specifically mention PVR. Some good weekend reading.

[roadster750] 13/2/2021 20:03

CM, great news that there is tacit govt approval for the proposed use of Kinsale pipes and umbilical's for future cfc use. I like the image of smith being slapped in the face.

[raisethestake1] 13/2/2021 16:57

I wonder will we get any snippet from the Sunday Business Post online early doors tomorrow.This is dragging on now. I will give it till the end of the month and then get impatient myself.We hav we no real news yet concerning the structure of this deal. Oil prices up so no excuses for delay.

[hermana3] 13/2/2021 10:50

Wow Steel did not know he was in his 83rd year. Was always polite and courteous if a wee bit at sea in a complex business. Glad we now have a Chairman who understands this sector and is nobody's puppet.

[steelwatch] 13/2/2021 02:15

Brian Hillery obituary: One of the great gentlemen of Irish politics