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Good to see. Took them long enough. No reason now to deny the permit, which should issue shortly. Great news. I hope we have at least a day for the market to react before news that the APEC funding has arrived. For maximum impact.
How long before the permit now gets approved? I should think within 2 weeks but has anyone followed others who had permits approved after appropriate assessments and how long it took?
Update 22 July, 2019 - Publication of Appropriate Assessment (AA) Determination
Appropriate Assessment Determination
On 22nd July, 2019, an Appropriate Assessment determination was made, under the European Communities (Birds and Natural Habitats) Regulations 2011 (S.I. 477 of 2011), as amended, that the application by Exola DAC to conduct a site survey within the Barryroe licence area ( SEL 1/11) would not adversely affect the integrity of a European site (whether individually or in combination with other plans or projects), subject to the mitigation measures included in the AA Screening Determination being included as conditions in any permission that may be granted by the Minister in respect of the application.
It was further concluded that there would be no significant adverse effects on Annex IV species that may be present in the area, should approval be granted in respect of the application.
https://www.dccae.gov.ie/en-ie/natural-resources/consultations/Pages/Application-for-consent-for-a-site-survey-at-Barryroe,-North-Celtic-Sea,-South-West-Coast,-Ireland-proposed-by-Exola-DAC-wh.aspx
Finally some action
Same as JOG today will do!!
Nice one!
Hopefully see a nice rise tomorrow
Expect that APEC payment to suddenly clear.
https://www.dccae.gov.ie/en-ie/natural-resources/consultations/Pages/Application-for-consent-for-a-site-survey-at-Barryroe,-North-Celtic-Sea,-South-West-Coast,-Ireland-proposed-by-Exola-DAC-wh.aspx
Excellent.
Not surprising, but why bother even setting a backstop date any more? Just say it will be done when it's done, and the process is under way.
...... Or before hopefully.....feet up and wait.
Let's hope so!
Or that they know there is one on Monday?
...at no after hours RNS yesterday..... Looks like they haven't got a clue what's going on either.
Ffs
One would hope so.
Got to be a RNS of some description before the close
Guys chill out, my friend from east Asia had a 20k transfer to here in the UK from there and she told me it took more then a week to get here,
We all know thrre is a HSBC remittance notice that was provided by the funders legal team so it's only a matter of time, nearly there guys,
Don't believe a word of it, trust the RNSs. Finance in process, stay patient
I hope they do as the doubts here are growing.... I cant see the Chinese authorities stopping a tiny £10m payment for 3weeks (so far) when they do hundreds of billion in trade it just doesn't makes sense... expect an after hours RNS with more excuses.... or hopefully payment received!!
This is getting ridiculous now. There is a suggestion by one poster elsewhere that the Chinese authorities at the highest level are blocking international remittances by private Chinese cos, for whatever reason you might want to surmise.
That being so, and surely PVR must have an inkling of this possibility of state interference rather than naively accepting APEC's lawyer's word for it, does PVR have a Plan B?
By that I mean a Western multinational oilco willing and able to step in at short notice on similar or slightly enhanced terms (for them), even dependent on all the relevant government survey and drilling licenses being approved? We have no idea if feelers have been put out, and if behind the scenes discussions are taking place. This is just common business planning, not trying to shaft APEC.
From earlier post..Remittance Notice …..dated 5th JULY.... Two weeks to send just 10m.... its getting ridiculous now and we will probably get an after hours RNS saying backstop date extended once again to mid next week. LOGP should be asking questions now.
Receipt of Remittance Notification
Providence has received a HSBC remittance notification dated July 5, 2019 from APEC's funder for the transfer of US$ 10 million in favour of Providence's bank account in Dublin with a payment date of July 9, 2019. Of the US$ 10 million, US$ 9 million is to cover EXOLA front-end and pre-drill costs with US$ 1 million to cover APEC costs. Therefore, a backstop extension to July 10, 2019 has been agreed with APEC to allow for the receipt of funds. A further update will be provided in due course.
You correct Rocklawn, but check the data source. PVR closed up 11.6% at 13.95c on the ISE which is 12.5p a full 16% above the London close. A good sign.
https://markets.ft.com/data/equities/tearsheet/summary?s=PZQ:ISE
Phoebus... the Irish market is in cents not pence....
.... I wonder if we will get another RNS today pushing the date back for the 3rd time....they keep saying they don't envisage extending the backstop date.... Then they extend the backstop date!!!
That's coming up to 3 years old