OLADAPO OGUN
15 Apr 2015
Re: Brent $60..... Man, forget ukog and their 155m PER SQMILE STORY! We both know that the proof of that would only come from a lot of drilling via huge dilutions to the current crop of shareholders in that company. What the management of that company has done is quite clever in order to gain interest of the market. This one here has loads of 3d seismics and previously drilled wells in the vicinity to back up what they are saing, they aren't making noises but going about their business in a very disciplined fashion. Carol is a great at what she does and we are indeed blessed to have her on the board of this company.
onedb1
15 Apr 2015
Brent $60..... so things could get a lot better for us soon . I wish we had an update soon and a good one. Massively under the radar but the Celtic Sea asset could well yield similar interest as the Surrey/West Sussex recent oil find . The only difference is that interest seemed more down the line for the Celtic Sea . Fingers crossed
onedb1
15 Apr 2015
Re: Brent back up in the $59s You OG,After the severe and over exaggerated drop , I sense we'll be seeing the high single digits if not more towards to the end of the year or even much sooner should we finally get on the move . The risk here at these levels is fairly low , so am surprised that there isn't a lot more speculative interest here . But it may all be about to change . 3/4p soon
OLADAPO OGUN
15 Apr 2015
Re: Brent back up in the $59s Onedb1 , fast buying LOGP won't be a bad thing in the current environment only problem is cost of developing Barryroe. Fast said at the start they were not interested in producing so there might be a dilema there! However the midleton farmout is a great thing as it would mean a farmout achieved while others are likely to come up soon. Let's not forget that most of Fast's Irish blocks are past discoveries that weren't developed now up for a redrill!
onedb1
15 Apr 2015
Brent back up in the $59s The Celtic Sea asset could well be farmed out soon . As oil has shown a base and now strength again , we could soon hear from the many majors that were circling around the asset last year .I wouldn't be surprised to see some news on this asset soon . At any rate with cash in the back exceeding the market cap and the licence extensions on the Celtic Sea and the rest , should oil continue its rise , we'll see a good deal here soon . Very over sold as I have been saying since the 2 / 2.2 days .
Spuddy
11 Apr 2015
Fastnet-Providence-Landsdowne merger Providence-Fastnet-landsdowne merger I believe these three companies Will merge. Carol Law CEO and TOR Commercial Director. Fastnet Will get 1:9 shares i.e circa 37m shares and Landsdowne Will get 1:5 i.e circa 32m shares to give circa 210m shares in New Providence. This Company could following Petronas middleton drill choose to drill deep Kinsale, Barryroe and Amergin. Positive results following midddleton drill could help finance these drills. If all went Well
cgod
11 Apr 2015
Buy Sale of Lansdowne Oil & Gas on the cards Thursday, April 09, 2015 Geoff Percival The anticipated wave of consolidation set for the international oil and gas sector could be about to hit the Celtic Sea, with Lansdowne Oil & Gas — the minority shareholder in the Barryroe field — likely to be sold.The Dublin-headquartered firm, a 20% junior partner to Providence Resources at Barryroe, yesterday announced the launch of a strategic review of its business. While it said that the review — being undertaken to look at ways of maximising shareholder value in current difficult market conditions — would include all options, including that of continuing with current structure and strategy; management stated that a farm-down or total sale of some assets; a merger with another company or a complete sale of the business will also be considered. The latter option is the most likely outcome according to some industry commentators.“Likely suitors will include all currently involved in the Celtic Sea looking to increase scale. It also could include any one of the various parties — especially the smaller groups — that have looked at Barryroe and would have some interest in becoming involved without having to take on the large stake held by its partner in the project,” said Job Langbroek, at Davy Stockbrokers.“It is early days yet, but the review is logical and makes sense in the context of current markets. We suspect the stock is likely to tick higher, especially if the review leads to a possible stronger outcome,” he added. “Lansdowne raised a small amount of equity capital in early March, as well as a loan note to one of its major shareholders to the value of £1.9m. However, the relatively small amount of cash raised and the early repayment of the loan note in March 2016, limits the scope for business-as-normal operations — especially in a high-cost offshore context. Consequently, the review should not come as a surprise,” according to Mr Langbroek, who said the news “clearly reflects the scale of the downturn in oil and related equity markets and points to the stress felt by smaller players in the market, as they try to advance projects using equity as the primary source of finance.” One player potentially interested in Lansdowne’s news is fellow Irish explorer Fastnet Oil & Gas, which last month significantly extended its existing Celtic Sea asset portfolio and expressed openness to partaking in merger and acquisition activity in the coming years.“As previously stated, we have a clear strategy to deliver significant shareholder value and, in this context, we have been evaluating and continue to evaluate M&A opportunities that best fit with the company’s strategy,” Fastnet’s CEO Carol Law said yesterday. Ms Law declined to make any direct comment regarding Lansdowne, but noted her company currently has around $17m (€16m) in uncommitted, free cash and notes that “the current market environment is awash with M&A opportunities for companies such as Fastnet that have large amounts of uncommitted cash.”As well as the 20% stake at Barryroe, Lansdowne’s asset portfolio includes a 20% holding in the Midleton gas prospect, which includes a fully carried well by local operator Petronas. Lansdowne, whose shares were up by over 22% in London yesterday, is now technically in an “offer period”, despite all options remaining open to it, as defined by takeover rules.
onedb1
10 Apr 2015
Another Friday rally ? Speculation obviously but with all the M&A rumours one never knows which micro cap could get taken out . This one in particular though has around $16m in cash too and lots of acreage , with a Celtic Sea asset that has proved to have a lot of interest by the majors which is unusual So it can ride the storm , pick up assets and equally has assets to sell . A good hat trick ! But it has also lowered its G&A expenses to be even more efficient . I look forward to any of the above 3 triggers as value creation should be inevitable The market will wake up to the basic facts of FAST ( at some point )
Spuddy
09 Apr 2015
LOGP Merger or Sale Believe that Barryroe Farmout will go ahead and that the possible sale or merger of Landsdowne is part of the process. The likely buyers of Landsdowne Oil and Gas are 1: Fastnet (This would be a merger) 2: Cairn Energy (Also a Scottish outfit). 3: Sequa (As part of Barryroe Deal) 4: Petronas Believe Fastnet under Carol Law can see the synergies between them and LOGP. After a merger the two would have a very commanding position in Celtic Sea. A merger followed by a farm out on Barryroe would give the company some cash to thereafter drill deep Kinsale and possibly Amergin. If middleton gas field is successful with PETRONAS you might see Petronas or and American Major expressing interest in the combined LOGP / Fastnet Operation. This would be enhanced if a drill at Amergin or Deep Kinsale comes up a success. Cairn Energy also a very likely suitor. Cairn could buy LOGP for lets say 80 Euros by issuing approx. 30m shares. Thereafter could give some up front cash payment to Providence for a Farm in to more of Barryroe. This cash could then be used by Providence to drill Spanish Point with Cairn. Providence could pass additional % holding of SP to Cairn before drilling there. Cairn need to add to its reserves. An easy way and a very high chance of success for them would be to take the path mentioned. Watch this space. Finally Sequa and Petronas must be in the picture as well
OLADAPO OGUN
26 Mar 2015
Re: Missed the good RNS ? The good news would have been one farm in attained, as that is not the case and they have acquired further acreage while nothing has been farmed out, makes the pessimists see them as not delivering!
onedb1
26 Mar 2015
Missed the good RNS ? Far too quiet . The RNS was good news . Licence extensions and new licensing option awarded too . All we now need is for Kinsale to follow what happened at SEL 4/07 and for Celtic Sea to finally deliver that significant shareholder value they have been promising for ages . Speculative here , but sub 3p seems unjustified . my view and no advised intended
onedb1
24 Mar 2015
Very quiet here Just when we have the 26/50 cross over Would be nice to see support on the chart now . Today's low was rejected . Today's candle followed by the downtrend of late indicates indecision now from the bears , i.e. no more selling ( volume in embarrassingly low ) Having said that its not like the market has put on a bullish mode either. So we stall right at the crossover . My only hope is that we get some interest back in and find support at 2.2. Cash is still in the bank here to the tune of 3.2/3p a share so the uplift is significant and the assets are priced at zero I have said this before that the discount is too severe given that a deal on the Celtic Sea is possible and same for Morocco . Company needs to communicate a bit more too . Not a winner from me so far , sorry . My average is at 3p . I haven't lowered it further for now.
OLADAPO OGUN
17 Mar 2015
Re: Still quite some interesting Fingers crossed. Two positive events come readily to mind if they materialise (1) Pura vida's drill turning positive (2) The farminees into Barryroe agree Deep Kinsale is an uncompartmentalised block hence cheaper to develop than Barry if a discovery is made on it's drilling!
onedb1
17 Mar 2015
Re: Still quite some interesting All quiet here again . I just wonder what is going on behind the scenes . Especially as the £70k plus buying spree happened on a quiet Friday pm . I'd expect news in the next 2 weeks now . But its just a gut feel based on those trades we saw . They could be a precursor to some good news
OLADAPO OGUN
11 Mar 2015
Re: Still quite some interesting Pura vida drilling very soon offshore morocco, the results there could have a bearing on this share, hence the recent rise here!
