If Kinsale platform so old how does Jimmy Believe Petronas were Going to Get any gas from midelton if discovered Back to Ireland. Give it a break Jimmy. Go and Speak about Marks and Spencers or any one of the million other companies in which You Have no shares.
Jimmy forgot to talk about the very very good News of the extensión of debt repayment. This Is very important and Will Take the pressure off the Company and put it in a better negotiating position. Jimmy also forgot to talk about gas at Barryroe and the high possibility of using Kinsale to bring it onshore. Forgot to talk about lower production and drilling costs. Forgot to talk about natural decline Rates in conventional and non conventional Oil. Forgot to talk about geopolitical risk. Forgot to talk about the return of risk to credit markets with start of interest rate rises. Forgot to talk about need to replace coal with natural gas as a result of climate agreement in Paris. Forgot to talk about Providence's low tax Licence portfolio. Forgot to talk about increase World demand puro 2040. Forgot to talk about futures market which allows one to make Barryroe Work from a financial aspect. Jimmy is very onesided. The only good thing he had to say was about dalkey which he rated as a One in ten chance and which we all Know Will likely not happen. So this was not a positive comment either
Just think that Jimmy's Last comment sounds Like rubbish. Scrapping the barrel To look for something bad to say about Providence. He discusses everything positive With theoretical negative. Why does Jimmy no shares in Providence spend his time and effort to paint a Bad picture of Providence. Does he spend the Same amount of time writing about all the other companies in the World. Would Jimmy Like to enlighten
Per SHare. Sequa Would not Have to initially invest such large sums in Barryroe. Given that oil rig rates are down It Would make sense to do these appraisal drills and wait for upswing in Market. Believe everybody Would be happy. If not They Will Have to put up the required Finance
Do not believe any investor Will object if we Get 80m to drill Barryroe and Spanish Point for 25.6 % of company. That Would be 1.40
Landsdowne are up for sale as we all know. Think their owners Would prefer to stay involved with Barryroe etc rather Than sell Out for peanuts. Providence taking over Landsdowne Would make sense and make it easier for Barryroe deal. It Would leave Providence controling Celtic sea. Sequa could then invest the modest sum and not only take advantage of Barryroe but also Spanish point. I Believe that Sequa might be more Interested in preparing Providence for upswing 2017/18/19 rather Than developing Barryroe initially. An appraisal drill on Barryroe and Spanish point, plus advances on Atlantic licences plus Landsdowne Amergin Licence Would make Providence attractive for a takeover when supply becomes a problem in 2018/19. Also found it strange that Landsdowne did not participate in the Deal between Petronas and a Providence recently for East Barryroe. Believe Providence Will takeover Landsdowne.