sobeit
16 Jan 2017
Stupid buys and sells On LSE they have changed the "Bid"/"Ask" from 1.30/1.40 to 1.30/1.45 so a number of trades at 1.3698 were down as buys but a number at 1.37, a higher price, were all put down as "sells".This is surely market manipulation at its worst and is an attempt to keep the price under the control of the MMs.However, about 7m traded at 1.43pm so will be interesting to see the total at the end of the day.
sobeit
15 Jan 2017
Re: Barryroe farmout -sp value Remember Davy based their original price on a Phase 1 development of 70m barrels, a far cry from the 349m barrels in Barryroe.The estimate is that Providence share price could be as high as £1.75 which would mean Lansdowne could be priced at about 40p.After all, the oil has not gone away and in the heady days after the discovery Lansdowne shares were trading ahead of that.All we need is a farm-in to Barryroe with a mix of money and development. If that happens both Providence and Lansdowne will be multiples of what they are today. The only reason they are not at decent levels at the moment is that we have heard so much bluster from O'Reilly over the years that "seeing is believing". Short of that both shares will continue to flounder.
DanDaDan
15 Jan 2017
Re: Barryroe farmout -sp value In Dec 2016 Davy conservatively estimated that 11p was the initial share value for the 80% license equity in Barryroe for PVR. As LOGP hold the other 20%, Barryroe should give this an sp of 2.2p ignoring any other assets and cash. So around 2p for starters now looks fair initial value.I reckon that any Dublin news leak will filter through here first as this is still penny status and will show quickly. Then get ready for the PVR sp moves. Pick Up a bargain , IMO and get ready early for the 2017 'new Dublin', arising.GLA.
DanDaDan
13 Jan 2017
Barryroe farmout It sounds like the Barryroe farmout news is due any day.(This is my signal indicator for some nice movements at PVR).With 20% of Barryroe I reckon we are about to see some 'Irish eyes smiling' again.Get the Guinness ready.......It has been a long wait.GLA.
kevyd33
10 Jan 2017
Re: very quiet on here With the recovery in the POO this begins to look like it may have a chance of survival. I am invested with an average 10p share price so will take a miracle to recover my investment. Wonder what happened to the SEA ENERGY stake? Was it sold off or still held by the administrators?Perhaps some previous FO interest has resurfaced too!KD££
sobeit
10 Jan 2017
very quiet on here Anybody there?Seeing that there were over 18m shares traded today in Lansdowne, I would have thought some participants, if there are still any, on here would be interested.Either there is a takeover of Lansdowne or the Barryroe farm-in is close as there is nearly nothing else in Lansdowne.Hopefully, we will get good news in the not too distant future. With this activity, could be tomorrow.
sobeit
21 Oct 2016
Good News this Morning The last bit of dirty dealing with Transocean has now been cleared.It is a disgrace that they have to pay Transocean's costs even if they are highly discounted. After all, Mr Justice Popplewell, was overruled by the Supreme Court in his original judgement on a mere verbal technicality which resulted in these costs being paid to Transocean even though Popplewell had said originally that Transocean were actually a bag of thieves.Now, perhaps Providence can get on and farm-out Barryroe which has obviously been held up pending this decision.
sobeit
20 Oct 2016
Brandon Hill Investment Press mention today about Lansdowne and the 17.72% investment by Brandon Hlll Investment and comment on its 20% interest in Barryroe.Read down past the item on Circle at:[link]
sobeit
27 Sep 2016
Re: info Cantor are being totally conservative in their valuations. At 7.5p that would value Lansdowne at £35m for their interest in Barryroe where they would be holding 10% of the field.Since I believe they would have a zero carry cost for the development of the asset, that being taken up by the farmin(ee) that would not bear any relevance to the costs put on the asset by San Leon.San Leon have a 4.5%nett profit carry on Barryroe in exchange for their 30% which they ceded back in 2011 to Providence on the back of a zero carry.Oisin Fanning of San Leon put a value of $700m on that 4.5%nett over the lifetime of the field which is estimated at 25 years. He did that in the recent past when the price of oil was in the $30 range. If the oil price recovers back to say $75, that estimate will be very conservative.So, how could Lansdowne only be worth 7.5p when you look at it in that context?I don't question Cantor's reasoning for putting such a low valuation on the shares but I can see a far healthier price for Lansdowne shares if ever a deal is struck on Barryroe.
forwardloop
26 Sep 2016
info [link] broker Cantor repeats a 'buy' and targets 7.5p for the shares.Analyst Sam Wahab noted: "Renewed sector interest could accelerate farm out of Barryroe - The 2015/16 Atlantic Margin licensing round saw considerable interest from the industry as majors and independents looking to secure acreage counter-cyclically."In the first tranche, announced in February, ExxonMobil, BP, Statoil, and Eni were among the majors awarded license options, marking a significant shift for the basin. Woodside and Nexen also picked up license options in the first tranche, which focused on the southern Porcupine Basin. We believe this underlines offshore Ireland’s significance in terms of industry interest, and further highlights the long term potential in this underexplored hydrocarbon province."Cantor values the group on a post-farmed down basis, assuming it retains a 10% working interest, generating 15p per share. It also includes a a valuation of the company’s assets and liabilities.
forwardloop
26 Sep 2016
from petrel results FutureSince 2014 the hydrocarbons industry has had to weather severe storms. Costs have been slashed - as has exploration. But so far, our key Atlantic Joint Venture has not been adversely affected. On the contrary, the recent Irish Bid Round attracted a record 46 applications from 17 companies, including Exxon-Mobil, Statoil, Woodside and Nexen/CNOOC. This surge in international interest has already boosted 3D seismic programmes and will in time, we hope, lead to wells and discoveries. It is an exciting time to be in the Porcupine Basin. Petrel is funded for current activities.
Georgienorm1
10 Sep 2016
Baron oil
sobeit
14 Jul 2016
Providence Fund Raise The approval of the Providence Fund Raise this morning must be good news for Lansdowne.Given the statement that "A number of parties are now in talks on a Barryroe deal, having waited during the company’s financial woes in recent months “to see how it would play out for Providence, or do a deal with an examiner or an administrator, said Mr O’Reilly."With that out of the way, the hope is we can expect a deal in the not too distant future on Barryroe which will make Lansdowne an interesting proposition given its current lowly share price.
forwardloop
12 Jul 2016
Arnstein 10.3pps valuation [link] gives some 10.3p per share for his net valuation Lansdowne’s stake in Barryroe, including 6p per share for an initial development which would target 70mln barrels of oil.Lansdowne Oil & Gas Plc’s (LON:LOGP) stake in the undeveloped Barryroe oil field, in Ireland’s Celtic Sea, is worth considerably more than the market value of the group’s AIM quoted shares, according to broker Brandon Hill Capital.The 20% stake in Barryroe is the company’s main asset.Analyst William Arnstein, in a note, acknowledged that whilst the absence of a farm-in partner for Barryroe may continue to weigh upon Lansdowne shares, the company is now better placed to either hold out for the ‘right’ deal or take proactive approach to add shareholder value.Arnstein’s assessment comes after Lansdowne raised £2.1mln of new capital in June, and as Barryroe operator Providence Resources PLC (LON
VR) also strengthened its balance sheet with a US$76.6mln funding.Barryroe is estimated to host some 310mln barrels of oil and 169bn cubic feet of gas and, whilst testing of previous wells has shown the field’s economic potential, Arnstein says further r appraisal is considered necessary prior to development sanction.Significant exploration and appraisal upside has also been identified by Providence and Lansdowne, he added.Arnstein gives some 10.3p per share for his net valuation Lansdowne’s stake in Barryroe, including 6p per share for an initial development which would target 70mln barrels of the field’s contingent resources. He notes that the exploration and appraisal upside is excluded from his valuation.“When and on what terms a farm-out might be agreed remains the big unknown and the key value driver for the company,” the analyst said.“The recent US$68m capital raise by the operator, Providence Resources, did not include funding for an appraisal well at Barryroe and may indicate confidence that ongoing discussions with counterparties will result in a satisfactory outcome. “With Lansdowne trading at just 0.12x total NAV, it is clear that the market is taking a far more pessimistic view, providing a very significant upside potential if an agreement is reached.”Lansdowne shares currently change hands on AIM for around 1.12p each
sobeit
27 Jun 2016
SeaEnergy did not participate I note from the RNS that SeaEnergy did not participate in the fund raising by Lansdowne so its shareholding fell from 18% to 6.9%. At least they held on to their shares which is something after all.This was also the same situation back in March 2015 when Lansdowne did its previous fund raising. You will note from the following that they still have the same number of shares now as they did prior to the share issue.[link]
