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From the Sunday Business Post: POWER SHORTAGES AS PREDICTED DEMAND SURGES.
The growing number of data centres and the closure of Moneypoint power station means Ireland is at risk of not having enough electricity to meet demand by 2026, according to a stark new report to be published by Eirgrid this week.
Telling people to p**s off now Manyana! That's nice of you!
Me too. He'll change the record to "discussions on going with a number of highly interested majors to farm into Barryroe "
In a way, I'll be relieved when September's gone.
No more backstops and no more updates on Chinese Crackers.
That translates into 6 working days including Monday 30th. Talk about going to the wire.
If the transfer is not completed within the next ten days, then either TOR or someone with a reputation will have to negotiate a replacement farm-out with one of the parties he said have shown interest in doing a deal with PVR.
Obviously, if the transfer is completed, then TOR;s reputation will remain as it is.
I'm looking for people to tell me why i am wrong.
What has got stuck in your craw glaw? I see from your posts you are a "newbie" here so what rabbit hole did you pop up from.
There are numerous people here who have lost their shirts on this share over the years and if O'Reilly could be trusted and the money will be paid by 30th September they would average down but they know his track record is so poor that they have to grin and bear it.
Do you think the share price would be a miserable 5.7p if he could be trusted when Barryroe is potential sitting on about $15billion value?
So a little bit of advice for you; p***s off back where you came from as it is clear from your posts you are nothing more than a mouth.
When I want your advice I will ask for it.
The issue Glaw is that for a lot of people (not Maynana it is true) can t afford to sell as they bought in somewhere from £7 to 7p .... it just isn t always that simple in real life
O'Reilly's normal form over the years has been always "hedged" but his latest statement seems to be more positive about the $10 being on its way.
However, this is a snippet of an Irish Independent article from the 5th of July which says "Providence Resources has been notified by HSBC bank that the $10m (€8.9m) due from Chinese backer APEC Energy Enterprises has been transferred. The Dublin-listed oil and exploration company received a letter from the bank on July 5, the date the funds were due, advising of a payment date of July 9."
So HSBC sent Providence a letter on the 5th of July saying the payment date was July 9th. So what happened to the payment?
Even Sherlock Holmes could not solve this one.
It seems to me that the chances of the money landing before end Sept, end Feb are the same as last Feb (i.e. zilch). People have short memories if they can't remember what happened when Lars walked away. I expect ToR has his tramp pants on and is working on a proper raise to be completed before February (wherein we all get atomised) but the 2 drill wells goes ahead. Seriously, unless you see ToR selling his house and ploughing it into PVR, be very afraid of what's coming....
I think you're right, but if the money were certain to arrive by the end of this month, then we wouldn't need money for five months and we wouldn't have held exploratory talks with other potential partners.
To get placing away I'm sure he would have needed to present evidence of transactions and conversations. The board clearly must have some credibility among the institutional investors. So let's hope the professionals have individually carried out due diligence.
I reckon TOR is only relaying what he knows. He's been given assurances by APEC, HSBC, which are compelling enough for us to be in this situation at all. There also is a risk he's clutching at straws or being naive but we'll only know for sure by 1 Oct.
TOR's tone seems confident and it looks like he's hanging his hat on the fact the funds will arrive. That said he did make a swipe at APEC with threat of legal recourse, which suggests there is some blame to be placed at their door, and not just HSBC's.
I don't buy it, either, but do you buy TOR's assurance that the transfer will be completed by the end of this month?
How could he know that, unless HSBC had told him so?
To blame PVR's delays on TOR's desire to prolong the gravy train doesn't add up if you really think about it. What about the price of oil collapse in 2014? What about PVR's share price in the 600s and the stack of options TOR would have made a fortune on? That he was happy to say goodbye to all that simply to extend his annual salary for a couple more years? I don't buy it.
very dark Ranger ... I hope you are incorrect
Spot on PS, Its the Bronze & boards Incompetence by putting Barryroe on the long finger that is the problem, This field should now be in production years ago when they had the cash to do the job but the Bronze in his wisdom thought the gravy train would never end by using His Best asset as an Insurance policy to prolong the co. And Gravy train at shareholders expense and now his and boards goose is cooked and the gravy train days are coming to an end as barryroe willl Never see production.