15 million shares traded in LOGP Today ( including 12.5 m in back dated trades). It seems That There is an interest in ensuring a majority stake in LOGP to get some sort of deal over the Line. Think that T5 Will reverse into LOGP and thereafter buy into Exola ( providence ) retaining a Share. Think we Will see T 5 concentrate on Celtic sea. Lot of seismics already done Here.
Morning Sharemate
Gut feeling that T 5 Will do something Like suggested. T5 has An asset in Senegal and is looking to raise funding in IPO on back further asset purchase. This reminds me of deal with Amryt where Amryt reversed into Fastnet and bought Two small prÃvate pharma companies. Similar thing could be done with Landsdowne and purchase or Farm in on Providences Assets. Remember seeing Steve Badie of Landsdowne at PVR AGM last Year and he looked Very happy. Last year funds were provided to Landsdowne which staved Off Bankruptcy. Who Would provide money to a Company with debt unless They believed something Good was on the way. T 5 is looking to build a billion dollar company. I doubt there Would be a Big appetite to starting exploration From scratch whether it be in Ãfrica or Ireland. T5 Are Going to but Assets and low risk high potential opportunities I believe. Good News for us I believe !!!!!
Morning Linkoping
Putting all The evidence together it Is what is likely happening. T5 oil and gas needs an AiM listing. Landsdowne has a listing, An asset and no cash. Someone had Been buying a massive amount of shares in Landsdowne. Pat Plunkett also involved in T5 is Chairman of Providence. Fastnet licences sitting There in trust. Providence with Great Assets just need a little more funding to allow For drilling at Barryroe, drombeg, Druid, newgrange, Spanish Point etc. Drilling costs have never been lower. T5 wants to launch a billion dollar company. One relatively easy way is to help providence drill Its assets !!!!
Believe We Will See fast progress on Barryroe thereafter. Think All Jimmy's negative asertions Will be proved incorrect. Remember predicting a reverse take over of Landsdowne and a Farm into Barryroe sometime back and my ongoing comments with regards To Barryroe and Providence were described as mindless By One pundit on This board. We shall Soon See !!!!
Believe T5 Will reverse into Landsdowne, Take Fastnet Licences and likely a stake in Barryroe (directly or via Exola). Might also See T5 Farm in to Drombeg, Druid and Newgrange
Has Jimmy bought some shares in Providence. From the words he uses it appears That way. Very Strange If he has now bought some shares !!!!!
The trades Are Obviously between agreed buyer and seller as Market price not changing. They can probably do the trade in a number of ways but it needs to be Registered. We Will find out shortly. Obviously somebody sees potential here
If This is correct expect an announcement on Final Barryroe Deal Soon enough as the New owner of these LOGP shares Will have to make a declaration. We shall soon see !!!
Spoke With another investor ( My Dad) Who reckons Sea Energy receiver Is offloading all sea energy shares circa 30m. Obviously An agreed buyer. Thus If LOGP is to be taken over prior to Barryrore Farm or as part of Deal it Would be preferible To Have The issue of the Sea Energy shares cleaned up in order to make Any Future Deal On Barryroe easier to conclude.