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mcco...What do YOU not WE assume is the cause of the delay?
A further delay. Do we assume that PVR is not a cause for the delay and that we have provided all necessary documentation expeditiously?
The last date for a JR is three months from the date the approval is given. So the time has not yet started because we are still waiting for the approval.
You can only appeal an approval when the department gives it.
When really is the last date for anyone to lodge a request for a JR on this survey application?
I don't presume that the APEC money is contingent on the license/approval but I would suspect it has been delayed because of the judicial review of the approval and the Brid Smith bill which came to the Dail in July last year, was passed by a majority but fortunately foundered on the rocks of a money message.
Remember, this money is repayable to APEC out of profits from oil if found so I am sure Providence did not want the money back then because it would have started to incur interest at the rate of LIBOR + 5% from delivery which would be a waste as they have enough money themselves without the loan.
Hopefully, all will be revealed this morning and the money will be transferred into Providence's account and hopefully will be followed by the approval which should be a formality but who knows how An Taisce's mind works. At least Brid Smith's bill has now been put to bed and will not get in the way.
You seem to imply that the APEC money is contingent on our getting the licence/approval.
The RNS refers to compliance issues by the transmitting bank ( HSBC) which presumably concentrates on money laundering checks. If there is a condition that the Approval is in place before the funds are transferred, the Bod are seriously misleading in the RNS, and I don’t believe that to be the case. I expect an RNS this morning to confirm that the funds are in our account, or a full explanation if they are not
I am not in your league as an investor; my investment limited to twenty grand with a current value of about 2.5 k euro
Mamms..My numbers are almost identical to yours. But as Manyana says it is achievable..Inshallah!!! Not a word that Manyana likes to use!!!
You are not as badly off as I thought and your 50p, in my opinion, is well achievable.
If we can get the approval then I expect APEC will come up with the money. I suspect APEC put the money on hold last year when An Taisce put in their request for a judicial review and it looked like the whole process would come to a halt and the Chinese have been waiting to see if An Taisce are going to appeal against.
There was also a statement the last time from An Taisce that they were not given enough time to formulate their appeal until late so I presume the department are giving them reasonable time this time and that is what is causing the delay.
I have checked all the things the nose parkers have been doing since the last data was posted on the DCCAE site and there has been many items but nothing about EXOLA. So things are looking and you can check out what they have been up to and if you go back far enough you will find their objection last year to EXOLA and the flimsy reason they wanted a judicial review. Check it out at http://www.antaisce.org/news
So, no news is good news because it is a basic requirement that you formulate your case as quickly as possible even though the actual three months for the request dates from the time that the decision is made.
I am sure if An Taisce had a case they would be publishing it on their site even if they had not formulated the case.
Decision hopefully this week and given the amount of effort EXOLA has put in to furnishing the items that An Taisce used to call the first judicial review I fail to see what case they can bring this time.
Like pretty much everyone, including all ii's i have never made a secret that I have lost a lot of money in PVR. I have over two million shares with an average of around 50p - i dropped 1m at 10.25p recently and bought back at 8p but it made f all difference.
I am sore at ToR - about a few things in particular, there was a raise in 2015 or 2016 to cover the loan (the taking of which was idiotic in the first place) and it was described perfectly in the papers on the Sunday, denied by PVR on the Monday and then announced to the market on the Wednesday. The other thing that really sickens me is that we only find out that APEC have not paid when the auditors force it. I have the general feeling that he is a great salesman - too good in fact, poor on detail and not generous with the facts. Anyway, I'm waiting for a bounce here and I'll be off.... If APEC don't deliver - we will be in serious doo doo - if they do, the whole upside will be much more limited as a result of all this amateurish ****.
Poor Mamms. The more he moans the greater is my belief he has had his rear end truly burnt by Providence and Lansdowne over the last years?
Perhaps, Mamms, you can you tell us how many Providence and Lansdowne shares you have and what is your average price so that we can sympathise with you if you are in the "dog house"?
For myself, I don't care if the money is on its way or not. What I want is for the permission to be given. After all, O'Reilly said if the money was not forthcoming they would do an equity raise which I presume is to do the survey and go back to the original plan which was to drill one well and a sidetrack and pay for it with equity.
In the meantime, if the approval is given I will happily continue to buy with the price, hopefully, in the lowest of low price. After all, the oil in Barryroe is not going to go away and as long as the government does not shoot itself in the foot it will be extracted at some point in the future.
I agree that the date of the article is from last September but it was in today's Irish Times which I read at about 4.00am this morning but I see it has now been withdrawn. I suspect somebody, thought they would fill some space and reissued it but forgot to change the date.
As for my fifteen years to save the planet and somebody disagreed, I watched a BBC program this morning where the Greens claim that we have six months as we are that close to the tipping point so I have a few suggestions for the Greens and people like Brid Smith as to how to save the planet.
As a start, they should lobby the government to increase the price of petrol and diesel so that petrol costs €5 a litre and diesel costs €6 a litre and in the UK charge £5 a litre for petrol and £6 a litre for diesel. What are the chances of that taking place and what would be the result?
First of all, the use of cars would drop like a stone. There are currently 2.5 million cars in Ireland and about 40 million in the UK. And which political party is going to commit hara-kiri by implementing that sort of strategy? But if we really want to reduce carbon emissions that is the way to do it so if people are really committed to reducing global warming that is the way to go.
Then they should treble the price of foods and limit each shop to sell no more that about 30 items of which milk should cost at least €2 a litre, bread at least €3 a loaf and butter about €10 a kilo. That way farmers could get a reasonable deal and in the process the government should tax the middle men at about 80% tax to stop the rip off of the farmers in the first place.
Now I know that the poor are going to suffer the most from this sort of thing but the difference between the rich and the poor is a hidden agenda in Ireland and elsewhere anyway, because where you have super rich to abject poor and nobody really cares about levelling it out. For example, in Dublin, the Tesco of Tallaght sell poor quality meats, fish and poor wine similar to toilet cleaner whereas Tesco in Stillorgan sell things like lobsters, high class steaks and top class wines so there is already a class divide in Dublin between two areas not much more than about 15km apart.
Next they should treble the cost of gas, oil and electricity used to heat homes. That way the need for those commodities will reduce dramatically (many poor people will die of hypothermia in the winter, but who cares) and Brid will get her way because the need to drill for oil will become unnecessary.
Finally they should increase the price of mobile phones, TVs etc by about 3x and take all the extra revenue in taxes for all increased items.
Now, that is the sort of radical activity that is necessary to reduce carbon emissions but which politician is going to propose it and which government party is going to run an election either in the UK or Ireland on that agenda?
So all we hear is "Gobbing" with no intention of taking the matter seriously.
Mamms.. I should have known that you know everything. My fault!! I apologise.
Anovas, that's a complete non sequitur. We know what the shareholdings are. Manyana is saying Pageant believe the money is imminent. I am simply asking if there is any basis for the statement (in the alternative, it's just BS).
This is no BS!!!
MAMMS I agree ....
That article is from September 2017. Do you have any basis for that statement or it just BS?
Pageant thinks things are good at Providence. Furlong is close to the ground to hear whispers so probably a good RNS on Monday and then all we need is the approval.