clickable links:

• Operations Summary PAD ZOOMABLE IRISH CONCESSIONS MAP Upstreamonline ARDMORE ► BARRYROE ► BURREN ► CAMA ► CUCHULAIN ► DRAGON ► DROMBEG ► DUNMORE ► DUNQUIN ► HELVICK ► HOOK HEAD ► KISH BANK ► NEMO ► NEWGRANGE ► ORPHEUS ► PEGASUS ► POLARIS ► SILVERBACK ► SPANISH POINT ► SPANISH POINT SOUTH ►

winner,if you force me to choose I go for de former.

slight arm twist hermana,thankyou.

oversold now surely?

winner,most definitely.

Signs of recovery late Friday. Looking forward to Tuesday morning.....

Tuesday morning rns?need something after the pullback in the share price this last week.
Are we looking at a late july HH drilll or early august,do you think?

winner,hopefully the former.

How long is the rig contracted for this time round?

Late July to November for 2 maybe 3 wells.

Apollo licence news overdue here. Spanish Point another slow farmout process. Everything else looking very good for 2008/2009.

spanish point is a very slow farmout process,whats your take on the slow progress?am i right in thinking it is a discovery and had very good flow rates?

winner,until Autumn PVR were flogging it with 1981 data but have new seismics now. It is a big project and was discovered by Conoco Phillips and flowed 1000BOPD and circa 5 MMSCFGPD.

More great news on UK landward Licence here.

hermana,was this the news expected?

winner,not by me anyway!

could exxon be a farm in partner for spanish point?maybe hear about interested parties, if any at the agm.

winner,doubt it. Conphil,Chevron or BP possibles.

Timely post from Oilbrat on III thread.

LTT I could make you a good arguement that currently the big PVR gambles are valued at zip in the share price and it should be a free ride when drilled. Sadly the market doesn't work like that.

So 50bbls/d from a vertical, drop in a couple of 1000ft horizontal, dare one suggest a little acid frac and you shouldn't have any trouble with 150bbls a day. The well should pay for itself in 5-6 months and then drop 100k ish a month is PVRs coffers. Two or three wells and it commences to be a couple of quid. All back of a beer mat maths but you get the idea.

Its not a new Forties or Brent but its a nice little revenue stream. Funds other operations which in turn... you get my point. As an asset that should have been worth 0.2p on the price possibly a bit more as that should be converted to revenue quite quickly.

There is good arguement now for getting a rig in to drill a couple on Singleton, couple on Burton copse and a exploration well in Burton down. Drill the development first and they will have paid for the exploration well before its finished drilling....

Yet again the market missed it.... It'll catch up next week.

Providence licence




Friday May 30 2008

Providence Resources and its exploration partner Northern Petroleum have been awarded an exploration block adjacent to the Singleton oil field in south England.

The award was made under the UK's 13th Landward Licencing Round and the block will be shared on a 50/50 basis between the two partners.

Announcing the award yesterday, Providence chief Tony O'Reilly said the company had already identified a number of exploration and development opportunities within the block.

The Baxter's Copse oil field was found by Cairn Energy back in 1984 and its award under the latest licensing round fits the UK's strategy of boosting oil and gas output by developing old discoveries.

Annual Report available on www.providenceresources.com