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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.
Hopefully we will hear something soon. The sequence of events so far.
On 19 June 2023, Lansdowne's legal advisors, Ashurst LLP, initiated arbitration proceedings under the Energy Charter Treaty ("ECT") by submitting a letter giving notice pursuant to Article 26 (2) (c) of the ECT requiring Ireland to participate in discussions with a view to settling the dispute. Submission of this letter triggered a three month "cooling-off" period during which time the parties are expected to seek to settle the matter amicably
Lansdowne received a letter on the last day from the government saying they would be in contact soon.No news so far.
Lansdowne are in discussions with potential litigation funders with a view to their appointment ahead of pursuing damages from the Irish Government. The rasing of the two hundred thousand pounds with fund these discussions.
Updates will be provided as appropriate
Hopefully there will be an update this month if only to say discussions are moving forward
Is there no update on the ECT claim because no agreement has been reached with Vevan?
Why can we not be told if discussions are taking place?
Problem with LOGP at H/L now resolved.
H/L say that Key Investor Information has not been made available to them and therefore you can only sell and not buy LOGP shares through them. Can anyone confirm that you can still buy these shares in Dublin without the same problem?
Nothing yet. Hoping for news soon !!
Anyone heard anything?
Hello there MB. With luck things will move along at a quicker pace shortly. Like you we are all fed up waiting.
Even if Ryan’s demise is certain at the next election, can we afford to wait that long?
Maybe LG is prepared to wait that long, leaving LOGP no choice but to start their action right now with or without LG on board.
Hello Makeabundle. I think ER is going to end up in deep doo doo !!
If they are waiting for Ryan to arrange talks they may wait a long time.
I agree Spuddymadrid. There is simply too much money that can be claimed in a legal action against the government on the table, and Larry Goodman will need Lansdowne to take that legal action, as they are the ones that have been based in the UK from the beginning .
Either way, Larry Goodman is going to develop Barryroe, but having the option of insurance by way of the Energy Charter Agreement would be sensible
Morning Battle. I imagine we should be hearing sonething very soon. My guess is BOE reversing into Logp. Wonder where Swizz is. Would like to hear his opinion.
We should hear some news in January now that they have tidied up the share capital and raised £200,000. Lansdowne will remain a cash shell until the end of March, by which time unless they raise six million pounds or do a reserve takeover, the shares will be delisted. So hopefully they will take legal action against the government soon, or maybe a reserve takeover by Larry Goodman