.

DAVY VIEW: The news will be roundly welcomed by shareholders. After a prolonged wait, the intersection of the secondary objective above the primary zone meets a number of important early criteria. The drilling outcome so far is in line with the geological prognosis, data quality is excellent and the reservoir sands intersected are hydrocarbon-bearing. Given the proximity to the 48/24-3 well, it is a reasonable assumption that the deeper section in the current well will also meet pre-drill expectations. While the ultimate commerciality of this project depends on the rate at which the well can flow oil, the news so far provides comfort that the well is on track. Independent analysis suggests that the Barryroe prospect contains a P50 59m barrel resource of light but waxy crude. Assuming that it can be commercially produced, we value Barryroe at 113p per share risked and 287p un-risked. So far, so good and the next few weeks will tell all.

http://www.davy.ie/LR?id=2993

Dec 2011 Presentation : PDF Click here

Please note:

I see RAMPING
 &nbspevery time that
  &nbspthere is a new thread
     opened by you know who ......

       " PAPAL brown suace pants "

             &nbspI have seing it all before on the
                 RKH, CHAR, BOR, FOGL, AEX, .......

Could be on for a strong finish today, which would be good, got a few weak holders out this morning and then finish strongly.

Macho

Don't forget EOG as well.

You'll be sent to the naughty room .,.

http://www.iii.co.uk/articles/25128/barryroe-update-boosts-providence-and-lansdowne

Barryroe update boosts Providence and Lansdowne

By Sarah Modlock | Thu, 09/02/2012 - 11:36

AIM-listed partners Providence Resources (PVR) and Lansdowne Oil and Gas (LOGP) enjoyed a boost following a positive update on their Barryroe project.

The appraisal well, offshore southern Ireland, revealed hydrocarbon shows were encountered during the drilling of the section, which contains a number of potential secondary reservoir units.

Preliminary real-time logging-while-drilling (LWD) data demonstrated excellent sandstone package correlation with the nearby 48/24-3 well.

Commenting on the announcement, Providence chief executive Tony O'Reilly said: "The 48/24-10z preliminary well results indicate the presence of hydrocarbons within the secondary objective overlying our main basal sandstone target. We will evaluate and integrate these well data with our newly-processed 3D seismic in order to fully assess its incremental resource potential.

"Most importantly, operations to evaluate the underlying primary Barryroe reservoir objective have now commenced and we look forward to further updating shareholders once the drilling phase of the programme has been completed."

Providence has an 80% stake in the licence, with the remainder being held by partner Lansdowne.

The companies said that the original drilling timeline was initially set back by weather and later by rig performance issues which significantly delayed the drilling of the 12.25-inch section.

Drilling of this section recommenced on 2 February when the necessary rig repairs and maintenance programmes were completed by the rig owner.

Strong today, no surprise.

Anyone buying in yesterday is into profit - but so much more to come potentially :)

Very strong end to the day.

Decent gain already for those buying in on the recent drop, news should be very soon on the drilling to TD and by the way the share price moved and closed, the news looks to be good.

On the move again today, RNS about TD must be soon.

In and waiting.... Prosels.....

Waiting............ strong finish to the day today it looks like.

Strong burst..... looking nice.

Could SHOWTIME be with us early doors?

Yes, looks like news is soon.

We have been saying that for a few days.

One day it will be right :)

Good update out for LOGP

MIDLETON TOTAL P50 recoverable potential from 56 bcf to now 268 bcf

AMERGIN TOTAL P50 recoverable potential from 62 mmbo to now 231 mmbo



http://www.investegate.co.uk/Article.aspx?id=201202230700099310X


.

And nicely moving up to the excellent news.

PVR moving up strongly, I am hoping that bodes well for the ongoing drill that PVR and LOGP are partners in.

There should (hopefully) be some news next week on reaching TD.