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Thanks, Swizz. Would be much sppreciated by us all.
I wouldn’t be surprised to some consideration for Vevan to reverse their BOE interests into LOGP, with the restructuring ensuring the existing Lansdowne holders are not disadvantaged by the equity distribution, I will look to add some more details on this early next week, ..GL S
Smaller projects more likely to get a higher percentage of their claims than the big billions of EUR one's, so a good chance of Lansdowne getting a decent (20 percent or more) of it's claim.
Check out the payout stats for the charter treaty. Look at the fossil fuels bottom left. I did and took a small gamble of 2 grand based on the risk/reward.
https://www.energychartertreaty.org/fileadmin/_processed_/6/5/csm_Distribution_of_Cases_by_Energy_Sources_-_1_December_2023_a833c672a3.jpg
That is from:
https://www.energychartertreaty.org/cases/statistics/
Given that Dr Boldy has indicated that the litigation could equate to sp multiples a heavy placing may seem somewhat dubious.
Bit of an AIM nerd rulebook jobby!
That is the truest word Makeabundle
That is what I mean by having his feet on the ground instead of his head in the clouds. He is one of us. A CEO you can trust and one who should have been in charge of Barryroe from the beginning.
You just appear on every riser then vanish
Top of the riser now
"huge risk you may not see your money again" - yet your name 'EarlofAim' - lol gotta laugh at that.
GL SR
21 March Suspension
huge risk you may not see your money again
Cash shell with £40k cash
Mcap £1m
do they have any assets?
suspension this month
How will they pay for the listing
plus suspension is outlined in March
GL
There's life in the old dog yet ;-)
GLA SR
Good to see shareholders been protected while the shares are suspended for six months. No guarantee that the company will be successful in getting a deal done in the next six months but hopefully they will
It is the intention of the Board of Directors that, in the event of a successful ECT claim outcome against Ireland by the Company and/or its subsidiary Lansdowne Celtic Sea Limited (together the "Claimants"), arrangements will be put in place in advance to ensure that qualifying shareholders will receive an economic benefit relating to their shareholding at the date of Suspension, ensuring that should there be any future changes in the capital structure of the Company, the impact on such shareholders vis a vis as beneficiaries of a successful ECT Claim, will be ring fenced.
Boldy with his feet on the ground must have had nothing but contempt for the sun-tanned one putting the cart before the horse with euphoric dreams of a mythic Atlantic oil empire.
Steve boldy is 68......not sure if he will be interested in seeing all this through if it continues for an extended time.
Was Rockhopper initial tribunal decision about 3 years from start of arbitration? Rockhopper had other interests. This is all Lansdowne have. If I was Boldy I would be looking for closure. The way he has stuck with this and tried to do the best for shareholders is testament to his good character. Unfortunately he has had to deal with the decision making of fools.
The ECT do not suffer fools gladly, in which category Ryan fits admirably. That is why this will be over relatively quickly with no complications as in the Rockhopper case. Double your punt, Mamms. If LG really wants that LU, would you bet against him? On second thoughts, treble your punt. There are two good ways to win.
I guess delisting happens on the 15th March? (or suspension and delisting on 15 September). Anyway, the point is that for most punters, that don't have access to secondary markets, they will need to decide to stay in or quit in the next days. I'd expect to see even more volatility but trending down. Personally, I am taking a punt on a successful ECT case and outcome and so will just squirrel away the shares and see what turns up (but am under no illusions, this is at least a 10 year punt). I guess many will just throw in the towel in the coming days....
As you say Swizz, Lansdowne probably should have moved sooner but on the other side of things they have given the Irish government ever chance to engage in talks, which the government have refused to do so. I imagine this actually has strengthen their case, which is a solid one. As I mentioned before, Eamon Ryan using a rarely used clause that requires companies to raise three times the capital needed, is really only a practice that would be used by a Soviet style government that wanted to shut down a company that did not agree with it. The case is now been taken against Eamon Ryan and the government in Europe.
Just a few thoughts and observations, which in part are based on conversations with others closer to the granular details,
I would suggest today is an important step forward and we are entering a very different phase of the litigation process, plus I don’t believe there is any suggestion that Ashurst’s have been dismissed, they were providing important counsel at the outset in relation to the ECT arbitration and potential discussions with the Irish government, this is very understandable as they have very strong in country representation in Ireland and also a well connected network, it is very evident that the discussions with the Irish authorities are at an impasse and It is understandable that Lansdowne are moving forward with their ECT litigation plans,
Mantle Law bring a very different and needed set of skills to the table, that Lansdowne clearly require, one could argue and justifiably so, that this should have happened months ago and time has been wasted in the hope that Ryan would enter into meaningful discussions,
I would also suggest, that it is imperative that Lansdowne press on and do so independently of what Vevan are planning, the Vevan plans will be forthcoming at some point in the future and don’t be surprised if there plans are linked to the election process in Ireland, where I suspect national interest and indigenous resources will be very topical,
Plus, Lansdowne’s compensation claim will hopefully provide a very useful counter balance to the operators and partners plans to reverse the LU decision, I hope that all makes sense,….GL S
Maybe Ashurst were being ruthless too. Maybe LG’s law firm has contacts there to put a spanner in the works. If ever S.Boldy needed the support of all shareholders, great and small, it is right now. I wonder if LG has tried to buy the big one(s) over or is that out of the question in the RoI? It occurred to me in a post some time ago that LG may have decided to get the licence by putting up his share of 140m. Of course he then asks LOGP to put up their share knowing very well it wouldn’t be possible for LOGP to raise 20% of that.Something like that, perhaps.
Boldy must be demented with this d@mn licence.
Dealing with the tanned providence buffoon that frittered away all of the capital raised on other ventures other than barryroe.
Then having to deal with the green goblin who looks for any excuse possible to legitimise blocking of essential and logical developments of indigenous reserves. ' Its not the airport expansion we object to its just that the roads are not adequate. Its not the development of barryroe we object to its that we do not think you are financially capable of seeing the job through' How have we let this happen? All of this eco agenda is coming to a head very soon in a cataclysmic collapse. Europe is finished.
Its easy to judge things in retro but the game was up in 2020 when this green spanner was given so much power.
He is driving us towards the edge of an abyss just like has happened in Germany.
I also think boldy is having to deal with vevan ruthlessness now. He is a good guy who is genuinely concerned about logp shareholders.
If I am worn out with it then he surely must be.
I absolutely agree, Flombo. There is something not right here. No mention of Vevan, possible joint action on a JR or anything else. They have not informed us of Ashurst’s departure. I immediately thought about that 7th December RNS as well. Has Swizz any comment to make or does this come as a surprise to him as well?