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So sorry to hear that a member of your family has passed away Swizz. Wishing you and your extended family well.
Hey Spud, I have Ben off grid for a few weeks due to family illness, which sadly resulted in bereavement, I am only just getting back to BAU and I will be looking to catch up with a few people in the days ahead,
I did participate in the recent placing and I am very optimistic for the future and of positive developments, ..GL S
Hopefully we will hear something soon. They started official proceedings against the Government on the 28th of June 2023 and they have until the 19th of March before the shares are delisted due to the company been a cash shell. A six million pound investment or a takeover will prevent this happening so hopefully there will be an update soon.
Yep,a number of people who were promoting this share have suddenly disappeared.
I wonder who lifted the phone first - Boldy or LG? That is, if they are in discussions at all.
Hello there Swizz. Hope you are ok have not seen you comment for a while. Any thoughts on what is going on here. Take care
My shares in LOGP are held within an ISA and I am determined to still hold onto them - I haven't waited years to sell for peanuts! So, I'm hoping there'll be developments before delisting but what happens should LOGP be delisted?
Presumably the shares are ejected from my ISA and I am then the shareholder in a very thinly traded share - almost all remaining shareholders will also be awaiting a jackpot. So that has CGT implications - SP ejected at lowest possible value compared to future value. All losses within the ISA are my bad luck!
HL has just belatedly informed me (by secure message) that my handful of BOE shares are officially worthless. I wonder how LG is going to distribute a few pennies of future profits to me? I also wonder, and this is more to the point, whether Boldy has any plans to announce before the end of this month indicating where LOGP’s future prospects lie and what they are.
If there is no news about preparations for ETC litigation by the end of this month, you would suspect that maybe Vevan and LOGP are locked in confidential talks after all. Ashurst have been involved since June last year. No word from Vevan about a JR either.
No expert at all but if the LU was reinstated in a year's time I think LOGP would still have a case through the ECT. The devastation to the share price, since the LU was first applied for, has caused lasting damage to the company and its shareholders. The additional dilution from issuing shares after such bad news, the years wasted, the additional interest payable to loan holders etc. are all attributable to the bad faith decision of Eamon Ryan and that should be persued through the courts regardless of whether the LU is eventually approved or not.
If LOGP are going ahead with a claim under the ECT that leaves LG no option but to go ahead with a JR, if Vevan is to remain an oil and gas exploration company as per published Articles. On the other hand LG might be willing to wait a year or so and see if Ryan is removed from office, when the LU would likely be reinstated? Perhaps he sees this as a way to gain some leverage over and create uncertainty at LOGP? That is, if he has designs on taking over that company. What would the situation be, legally and financially for LOGP, if they have to terminate their ECT application if and when the LU is reinstated? Any well-informed opinion on that? I am guessing that there are at present no talks between the two companies but maybe it is all very secret.
I can't see SF changing tack on Barryroe either. It'll take a court to overturn it (vanishingly unlikely) or a major supply disruption this winter to cause a change.
I reckon there is a chance that the ECT thing might deliver a result (but not for a long time) - the time value of money means it's a tough bet to make. I'd expect SP weakness ahead of the delisting.
Latest poll says Sinn Fein is forging ahead with 30% and Fine Gael and Fine Fail are falling back with the Greens on 3%. That means Ryan's days are numbered.
While Varadkar has said "no early election" they still must have one before April 2025 and when that comes Sinn Fein will be the dominant party in Government probably on its own and Ryan will be dumped.
I am sure both Fine Gael and Fine Fail know what an id*ot Ryan is but if he pulled the Greens out of the government because of a disagreement on say "energy policy" there would have to be an election within weeks but they are too scared to do that because they know their time is also numbered and they want to hold on as long as possible.
What's new when it comes to politics. All politicians want is to be elected and hang the rest. No honour among thieves sums it up.
Hard to know what to make of that - my summary would be: we're progressing the ECT claim. You're energy policy is illogical. If you'd cop-on we'd be prepared to discuss a way out that is good for everyone but especially Ireland - but no one will discuss or engage with us in any way. Sounds a bit like a cry in the wilderness - no one to hear it.
Ryan is a moron but politically, he's dead if he even entertains the idea of issuing a license. Short of Russia/China cutting the interconnectors I don't see a change on the license.
Ryan has been using delay tactics for years now.
He will no doubt spout COP 28 decisions to try and counter any LOGP comments. He has already said publicly that in his opinion 'transition away' means 'phase out'. Unfortunately his interpretation of 'phase out' seems to be 'stop'.
It is clear the guy sees his future in some european or international environmental cheerleader role.
LOGP need to take it to the next level.
The message may be for both ER and LG (both playing hardball?). Possibly on the advice of Ashhurst. Now let us have details of the claim before the end of the week, which must have been worked out by now after six months.
Both companies would be in a much better position working together. Lansdowne hold an ace in so far as they are in the position to take a case against the Irish government in Europe using the Energy Charter Treaty. Larry Goodman has the money to finance that case, as well as developing Barryroe if the Government gives permission. Hopefully both companies will merge or maybe Larry Goodman might buy out Lansdowne.
Has LG any reasonable alternative to a deal with LOGP? I hope LOGP are not tempted to overplay their hand if negotiations are ongoing at present. A modest extra 5% of the cake in consideration of LOGP’s special position should be sufficient and acceptable to both sides?
Who would sell 6% of LOGP at this exciting juncture - or is there more to this than meets the eye? Any ideas out there?
It is not just that LG can afford to be generous in the circumstances, he will have to be to get LOGP on board. It is my understanding that being delisted in no way precludes LOGP from initiating or concluding legal action on behalf of shareholders. It is just as much a legal entity whether delisted or not. I stand to be corrected if I have got this wrong.
I agree. Lansdowne have a nice percentage of Barryroe (20%). They are also based in the UK which gives them the option of the legal action in Europe. Larry Goodman cannot take the European legal case without Lansdowne. Surely it is a good insurance policy for Larry to have the option of taking legal action under the European Energy Charter in case the Government block the development of Barryroe. The case taken against the government under the ECT would be in the hundreds of millions and Lansdowne makes up 20% of that
Would you all agree that LG would only make an offer for LOGP now if he knew for sure that the LU will be forthcoming at some stage? Of course if the LU suddenly arrived he would have to pay a lot more for it than at present in order to gain full control. There are many options for LOGP: they could be bought out, LG may now be (if he wasn’t earlier) willing to accept a RTO or go the ECT route alone if unable to reach terms with LG, always bearing in mind that an ECT claim would put pressure on the government to award the LU after all.
I agree. There will definitely be no settlement with the Irish government. I think they have to go through the motions with the Irish government, as it will be part of their case when they take the case to Europe under the Energy Charter Treaty. They have ticked the box as regards informing the Irish government of their intentions and giving the allotted time for the government to engage. Lansdowne have to get some result by the end of March of this year or the shares will be delisted, as it is a cash shell at the moment.
I don't want to burst any bubbles but there will be no settlement with the Irish Government expect one forced on it after every possible legal avenue is pursued. I am betting on that outcome but I am shelving this thing for 10 years and hoping against hope that by the time there is a result, that shareholders have not been diluted to nothing... I suspect everything else are fantasies.