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To act in the way Ryan has and then on top of that prove to the world that you will do anything to stop legitimate compensation being paid will do, with the occasional power outage and constant adverse publicity over 5-6 years, great harm to foreign investment in Ireland. NAH thinks the government hasn't a leg to stand on. I agree. His congratulations to LOGP are not premature. No absolute guarantee of winning - just 95%+ certain.
If it was known for sure that LOGP and the government would agree a figure within the 90 days things would certainly be different and you would not be able to buy in quantity at all. Few want to commit when the time frame might be 4-5 years. Time is money. That is how I see it. The BoD must know by now just how much they are going to claim but they are not telling us. Maybe we will not know until the 90 days are up.
I increased my holding this week by 70% but there have also been some hefty sells. At the current SP the compensation would have to be a tiny fraction of what's being claimed for a new investor not to make a profit but where are they?
Ireland is to have an estimated total budget surplus of £56000000000+ over the next four years ( 25% of it corporation tax from Amazon etc). An award of a mere £56m to LOGP would be one thousandth part of that!
It is a Buy and there will be a few more this week,..GL S
Ultimate pessimists getting cold feet this morning?? None of my 'attempts' to sell accepted!
We might get an update on Wednesday but the three month arbitration between Lansdowne and the Irish government only began towards the end of June. I suspect it will take the full three months, whether it succeeds or fails, so that takes us to the end of September. I'm hopeful the government won't want a court case dragging out so might opt to settle now. A solution that would keep both sides happy would be if the settlement were to be used for some renewable energy project. Larry Goodman pivoting Barryroe to green energy lends at least a modicum of plausibility to that idea.
Will we all know by Wednesday if we are securely saddled 'ar mhuin na muice', ER being the beast of burden in this case? Apply both spurs and whip in defiance of all Jockey Club rules!
Also, the 4m approx sell looks strongly like a buy to me.
Study it, some companies are relatively safe, others look weak (prd theseus) but it would be absolutely barking of the serial dweeb Ryan to cancel some of these licences. Even the Theseus construct( sound of vomiting) could survive.
Is this going to be an unusual AGM next Wednesday, in that there will be no formal resolutions for shareholders to vote on?
Will on-line attendance be possible - for those unable to travel to London? I haven't heard of any arrangements at all.
From RNS 30th June:
Importantly, no CPR has assessed the volumes and value of the gas contained in the Basal Wealden C Sand that was tested with strong flow rates in the 48/24-10z well. Previous work by Providence indicated this reservoir could contain c. 400 billion cubic feet of gas.
This seems to suggest that LOGP's claim will not be restricted to oil. Does it mean they are going to obtain a CPR and include that in a claim but is there time for that?
I would suggest it’s a positive development that Barryroe continues it’s journey and O&G activities are not being ruled out, plus the observations of Vevan’s legal counsel and the likely successful outcome of a Judicial Review is very welcome, especially considering the stature of Vevan’s legal advisers, I am sure Lansdowne’s team will be watching very closely, .. GL S
So what are the implications for LOGP's course of action, if any?
Cash-strapped oil and gas explorer Barryroe Energy Services has a green energy future under Larry Goodman vehicle Vevan Unlimited, the High Court has been told. The ailing exploration company, which owns 80 per cent of the Barryroe field, off the coast of Kinsale, Co Cork, hit the skids last May when Minister for the Environment Eamon Ryan refused to grant a license to the oil and gas prospect. Vevan is its largest shareholder. Mr Justice Michael Quinn today agreed to Vevan’s petition to appoint Kieran Wallace of Interpath as examiner to stop Barryroe from going into liquidation. The Goodman entity was described…
Plus, as part of the court submission Vevan and their legal team are of the opinion that a Judicial Review would be successful.
https://thecurrency.news/articles/124649/goodmans-deep-pockets-and-barryroes-green-energy-future/
Beggars can't be choosers but Ryan beggars belief in going down this road by choice!
Child Ryan will have noted this, and he will be thinking like a simpleton as follows, that the UK will supply all Ireland's needs. What a complete bigot
If Sunak would prefer at least 12-13 times less carbon footprint, he should consider buying Barryroe which is bigger, more convenient and at the very bottom of the cost curve, compared with all current oil and gas fields in the middle of the North Sea!
I was wondering whether Sunak's announecment this morning might bear fruit with LOGP !
While environmentalists and many scientists have warned that new fossil fuel projects are incompatible with net zero targets, Sunak told BBC Radio Scotland’s Good Morning Scotland programme that the 100 new North Sea oil & gas licences were integral to the plan.
“When we reach net zero in 2050, a quarter of our energy needs will still come from oil and gas, and domestic gas production has about a quarter or a third of the carbon footprint of imported gas,” Sunak said.
“So not only is it better for our energy security, not to rely on foreign dictators for that energy, not only is it good for jobs, particularly Scottish jobs, it’s actually better for the environment because there’s no point in importing stuff from halfway around the world, with two to three times the carbon footprint of the stuff we’ve got at home.”
I'm curious how people view this stuff with LG and BEY. I am happy that LOGP pursue compensation. However, if LG wins through, then in about 2 or 3 years we'd get a new Minister being asked to take a new decision. In which case, he might come to the same decision but with the right basis and process. It will cause a big delay. I don't ever see the BROE field being developed for a variety of reasons. Hence, I'd be as happy if his examership application fails (which is eminently possible) and the firm just liquidates...
LOGP need to buy BEY for £1 to gain the tax receivables as BEY can't do anything with it now.
No-one seems to be offloading shares, and mostly some steady buys each day.
Good thinking, SM. Will be interesting to see how high LOGP pitch their claim. They will hardly reveal that before the AGM. I'm sure LOGP will be keen to know what transpires over at BEY as well. I wonder why LG waited until 5 mins to midnight before making a move. Brinkmanship with other BEY shareholders?
I bought 600000 more shares today. Have been buying at these low levels. All or none bet. Cannot understand why Barryroe Shareholders have not been buying these LOGP shares given the possibility of a pay out. I think the Irish Government will want to come to a quick agreement with LOGP so as to limit media attention and ER will be happy to say he has closed the O&G exploration industry in Ireland. In fact it suits Landsdowne and the Irish Government not to have Barryroe Energy reversing into LOGP as the potential ECT claim will be smaller and thus easier to hide from the Irish public. My opinon of course