Does anybody really Believe that Davys attributing 10 % Success rate to Druid drill means anything. So Schlumberger with all their expertise carry less weight Than Davys. Jimmy is very rigorous it seems. By the way Jimmy explain to all your interest in investing Many many hours in commenting on PVR ( a company in which You Have no shares). You are a paÃd basher it appears or else Have a personal dislike of PVR for some reason.
A Fund Raise after a Succesful Druid drill Would be very smart, at a much higher share price and involve liittle dilution. On. Succesful campaign share could easily go a Euro. Issue 50 - 100m shares and drill, Barryroe, SP buy LOGP - Fastnet licences thereafter becoming King in Celtic sea where Super Majors are sniffing !!!
There Will be no placing before Druid Drill. There Will possibly be Another FO. Who is This Jimmy Chap. He has no shares in Providence but is now talking about we When referring to Providence. He has no Shares, has never Been to a Providence meeting and presents himself as An expert although the other day he admittted that he has no information on Barryroe other Than that in Public. His comments on Barryroe Have been refuted By all the Board at Providence. He then concludes his damming of Providence with a mealey mouthed praise of Druid. Jimmy reveal yourself. A basher if ever there was one. Cannot See any other explanation for your fetish with Providence as You Have admittted to owning no shares in company. Institutions 100% behind the company. Dr McCoss comming on Board. Would say he knows more Than you !!!
Apparently they opted for a larger project or a larger collection of Assets. However now the Majors are examining Celtic Sea and Pvr may look to extend licence área given interest and increase in Barryroe Size estimate. Would not be surprised to See Providence take over Landsdowne and old Fastnet (deep Kinsale, mizen etc) if Druid or Drombeg come up trumps
So here we Have Jimmy with no shares using his valuable time to Run down Providence again. Did not take him long to start Bad mouthhing again. Jimmy should Have attended PVR's AGM and presented his views which are based on absolutely nothing but suposition which he himself has just stated in his predictably negative comment. Pat Plunkett says Barryroe is bigger than initially thought and also concurs with Board view that Super Majors are looking at Celtic Sea and Barryroe again. The PVR Board say there is no Issue with compartmentalization. I Believe the Board as do all the Top institutional investors. Jimmy has never explained his interest in PVR. He has Told Us he has no shares. So why does he Have this Providence fetish. Maybe he Will enlighten us as to What is the reason for his ongoing obsessive bad mouthing of PVR
Board Also confirmed all major institutions 100 % supportive and none selling stock. Board do look at Bloggers remarks and are unable to respond to erroneous comments as They are barred from doing so by LSE. This lack of a rebutal leads Many to believe negative blogs e.g. Those related to Barryroe compartmentalization. Institutions happy with Pat Plunkett and recent incorporation of McCoss
Was not at meeting but other family members were.
After speaking to most of Board the news appears as follows:
1: Barryroe FO still hoped for with drilling next Year. Super Majors Looking at North Celtic Sea and Providence reexamining Its approach to the basin. Barryroe considerably bigger than initially believed.
2: Another FO of Druid / Drombeg very possible before Spud date. This to give us a free carry on drill for approx: 30% of The prospect.
3: Icemax very efficient. Calculated all in Cost to Providence 18m dollars before Another FO. Board very happy Cairn onboard.
4: Spud date late June. No flaring to be carrried out. Drill and once Oil discovered or not announcement to be made i.e. for Druid and thereafter for Drombeg. Total drill 45 to 60 days. Thus May Have news late July early August on Druid first.
5: Dunquin North. Contains more oil Than originally thought.
6: Dunquin South 3 d seismic to be carried out shortly.
7: Ãvalon larger Than Drombeg. Another Company doing seismic survey on Ãvalon. Providence do not Know why.
8: Very Big interest in Atlantic margin. Expect Majors to start drilling 2018.
9: Newgrange to be drilled possibly 2018:
10: Barryroe still considered very important and very large.
11: Company cannot comment on bloggers remarks but Comments relating to structural issues with Barryroe untrue. No compartmentalization.
Believe T5 Going to be involved. They May do a reverse takeover of LOGP and thereafter partner PVR On Barryroe amongst other things.