Godot, Sequa are examing 2 deals at the moment. My reading is that they will complete both and need the extra debt funding in order to do so, not that they will buy a greater share of Barryroe. Would be nice if you were right. Think deal will be done for $300m for 50.1% of Barryroe, PVR will be entitled to 80% of that and share price on back of that would go to €5.90.
Good morning, happy New Year tp all. Think a lot of what Jimmy says on the technical front is correct, it's the commercial inferences he draws from this that is misleading. Yes, Providence have an asset in Barryroe that still needs developing and that is why 50% of Barryroe will sell for €300m instead of the billions it will be worth once fully technically appraised and developed.
Phonner, the good thing here is our board had the foresight to go with private equity. If we were going with an oilie there would be a riak of them cutting capex as they would no longer have the cashflow to sustain (see link posted earlier). With Sapinda they have the equity and have to make investments in order to make a return. It may yet prove to be genius by our BOD.
Phonner thanks for the Phoenix article, good to see an upbeat opinion. I originally thought we might also get good news on Dunquin, but TOR's comment on RNS yesterday did not include any mention of it.
Shadow, I think the plan is as previously stated, that there will be a coordinated drilling campaign on multiple sites. HOWEVER, it's all contingent on Barryroe deal, which will bring a rig into Irish waters and also help finance PVR and LOGP elsewhere. Statements from PVR, LOGP who are part of Barryroe deal and I think even Fastnet and possibly Cairn who are not party to Barryroe have all supported this. Some on more than one occasion. With the surplus supply in oil rigs at the moment, there is probably one on standby. For the level of cooperation above there are a lot of reputations involved, so something concrete on Barryroe must be happening.Think Barryroe now "imminent", keep the faith, JR
Godot, meant to say it the other day, nice succinct summation of the financial impact on PVR of the Transocean judgment
Shadow, you know my penchant for conspiracy, so thanks for running this one by me, but gonna pass on it 