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Europa oil and gas (EOG), another small oil&gas E&P company with interests in offshore Ireland, is up 13% on news of the Climate Change bill being rejected by government.
It`s a very small increase in price in comparison to that of LOGP. There should be some kind of news leaked here, regarding the payment from APEC
Just my oppinion
Fernan
This is a big rise on just the government quashing the bill alone. I wonder if there's a leak on the other pieces of news we're waiting for...
$5/BOE for LOGP's share of Barryroe 2C values LOGP at 20p without any of the significant upside from the anticipated 5-7 well drilling campaign. When this finally gets the all clear it should explode very rapidly indeed. GLALTH
Wouldnt be suprised if we got to 2p today lol
Yheap expect 4 to 5p atleast on approval and funds as its all systems go
Wow, it's going mental now. 1.68 paid. On the other hand, never though we'd drop below 2p. It could double when DCCAE give the green light, and double again when APEC cough up.
Today is just a reminder that when LOGP moves, it moves fast. Really hope the approval is forthcoming.
Dam, was going to get in massively at 1p
If, say, the green party developed a bacteria that ate fossil fuels, and released it so that from tomorrow morning there were no fossil fuels left, then, sure, there wouldn't be any more CO2 as released by humans (as opposed to naturally) being released into the atmosphere. But civilization as we know it would immediately collapse, and billions would die. Realistically, we need to use our remaining reserves as efficiently as possible to manage the transition to renewables. It has to come anyway, we don't have an infinite supply of fossil fuels. But let's do it sensibly, instead of in a hysterical frenzy.
Anyway, solid buying this morning. Maybe the lads and lassies at DCCAE filling their boots?
I'm all for climate change but the outcome is the only one any sensible government could really conclude upon. the Green end are angry but where do they think all their energy is going to come from? it's not as if Ireland can survive on Green energy tomorrow. It seems very principled but entirely impractical. I noticed Cher endorsed the ban. I wonder where her private jet's going to get all its energy from - solar panels?
No chance that Brid will shut up, but the Government's statement on why they blocked the Bill was pretty solid. Wonder why they didn't grasp this nettle earlier. Anyway, this is very good news. I hope we now get the Appropriate Assessment Determination today. And that it is positive.
Great news.
https://greennews.ie/cabinet-block-cem-bill/
https://www.irishtimes.com/news/politics/fine-gael-accused-of-greenwashing-as-climate-emergency-bill-killed-off-1.3947046?mode=amp
"There’s only one group of people celebrating the Government’s decision... that’s the fossil fuel industry"
"The Irish Offshore Operators’ Association (IOOA) said the Government had taken an important step to ensure Ireland’s energy security, protect the environment and create jobs, by allowing gas and oil exploration to continue."
https://twitter.com/bridsmithTD/status/1146851585617776640
Maybe she'll shut up now...
IMHO tomorrow could be a defining day in the life, or otherwise, of this whole mess.
Brid states that she thinks the bill will be quashed (Last night) and Apec are supposed to pay tomorrow.
I just wonder if there isn't something going on behind the scenes whereby the site survey is granted today, and announced tomorrow, and all hell lets loose on Monday. It could affect the SP dramatically, up or down, depending on Apec and a couple of $. After all $9m is a drop in the ocean.
Has it been dropped? I thought it had been blocked by the money measure back in May? Childish posturing anyway. The comments to Brid's twitter posts are interesting.
Bodes well!
Will be good to see Brid silenced, she should take it on the chin and accept she’s lost.
Confirmation should kick things on nicely here at LOGP and PVR.
Load of rubbish,
Dont they need the payment first before they can approve the permit or have I got this wrong?
What's holding up a decision now by the DCCAE on the site survey?
Sorry - I forgot I was posting on LOGP and was referring to the PVR share price.
Yes, you're right about it being a bad year, but I think HUR, JOG and PMO will come good.
The only problem with PMO is that it needs a high oil price to pay off its debt pile.
If it could pay it all off, the shares should fly.
The short answer, is no, LONGWAIT,....I have high risk Funds, invested in AIM share portfolio,...my income (safe) investments, are in a portfolio of houses & land (50% claw back covenant, on 6 acres),...here at LOGP, I have left my Core shareholding untouched in two ISA's,...my LOGP Gross average s/p, is Sub last placing level (s/p@1.3p),...I am not buying or selling, just sitting on hands waiting for Barryroe drill,...our major shareholders, recent actions, give me hope.
BW
I think you could be right, but presumably that would mean APEC being in breach of contract, unless a further extension is agreed.
Either way, it probably means the share price drifting further.
I honestly didn't imagine it would go this low again.
At this rate, it might be wisest to wait for Barryroe to be given the go-ahead before buying any more, because the share price could still be very low.