Hello there Godot. Think things are starting to move. Deals are on the Cards. Will it be Fastnet or Cairn ???????
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
Believe that Barryroe Farmout will go ahead and that the possible sale or merger of Landsdowne is likely 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
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
Both sides are already starting to release different versions of what they say was achieved. Dont think this is Going to Work. Oil Will be week until June ( unless we Get some major surprise before hand). Israel, Republicans, Saudi, Texas oil barones, US arms industry all working against Deal
Believe the failure of Nuclear talks with Iran Would cause a sampede of interest in Ireland. Successful Will csuse the interest to be more subdued and long term in nature
Various major issues geopolitical now could sent Oil Price Spiking very soon.
1: Iran Nuclear Negotiations. Cannot see the West lifting sanctions on Iran immediately as Iran has demanded. Congress would not accept this. France has many interests with Gulf States as well that would be affected. Many lobbying in USA against it not least US arms and Oil industry.
2: Yemen Conflict. Yemon effectively divided between Shiite Houthi militants and Sunni Puppet regime/Al Qaeda/Sunni Tribes. Saudi Arabia has mobilized its army on the border with Yemen and Iran sending weapons to their Houthi Brothers. All scenarios look bad for Saudi Arabia and Gulf Oil Emirates and their stability.
3: Congress in US votes 348 to 48 to provide offensive weapons to Western backed Rules in Kiev. Russia has warned that this will blow Minsk deal out of water and spread a lethal war throughout central Europe. Germany and France are opposed to these ARMS shipments.
I believe we are going to see some severe turbulence and Oil Prices may very well spike soon thereafter.
Hello there Boby101. Providence have to pay 4 millon to Tranocean in June. So I believe they have only spent a couple of million of the loan facility. They raised approx. 26m Euros. Need to pay 4m to Melody, approx. 6m to Transocean, 3m for Seismics for Spanish Point. This should leave them with at least 10m left over to run the company. So if they conserve and not spend foolishly they should be able to get to next June without having to use the loan facility from Melody and roll it over to the next year if needed. All this in the event of no Barryroe deal in advance