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What’s your thoughts on sp value when and if funds arrive chaps?
Company presumes that all of the options, licences and leases already in place will be allowed to progress for their full duration.
"last night by a spokeswoman for the Taoiseach. Existing licences and options for oil and gas will remain valid but Minister for Climate Action Richard Bruton will bring a memo to Government within a month to set out how the change will be implemented".
“This will relate to future applications,” she said.
Key word is “ presumes”
Why presume they should know imo!
looks like it to me Mannam.sort out Apec next week or so,then we hopefuly go forward.
is this good rns ?
After that RNS, gives me a bit more optimism.
The Company believes that the phasing out only relates to the issuance of future oil licences and the Company presumes that all of the options, licences and leases already in place will be allowed to progress for their full duration.
Good to see,......been here for quite awhile myself, patiently waiting for Funds, to arrive.
Tune: https://youtu.be/_YC3sTbAPcU
BW
They'll see out the current licences, so nothing to worry about.
Nice to see PVR director earlier too.
https://www.thejournal.ie/oil-exploration-irish-waters-varadkar-4821621-Sep2019/
"People Before Profit TD Bríd Smith has said the Taoiseach’s announcement today that he intends to phase out oil exploration in Ireland is “too little, too late” given that his government has already issued licences that will allow exploration up to 2035 and possibly beyond."
see the news today
Would be good to see someone here follow suit
Director Buys !!
Jarv55
agree
Worst case scenario no funds by the end of September from Apec jv is cancelled and Logp then have 20% of the asset which they can sell to another interested party.
1.1667 .....look like buy
'He added that APEC is strongly representing to the Irish oil exploration firm that the funds will be received by the new backstop date of September 30.'
How could APEC know that when even HSBC apparently haven't said so?
liquid1
good post
Ajed
Read Here:
https://www.rte.ie/news/business/2019/0912/1075416-providence-resources-results/
You don’t say !!!
Never heard that before.
The chief executive of Providence Resources has said he fundamentally believes that a $9m loan from its Chinese backers will be delivered.
Tony O'Reilly jr told shareholders at the company's AGM in Dublin that he has staked his reputation on the issue.
Mr O'Reilly said he understood it seemed incredulous that the money had been delayed in the international banking system for so long.
But he added that when the company entered the deal with Chinese company APEC, it did not appreciate the difficulties involved in moving money from Chinese entities through banking systems to here.
Speaking at the AGM today, Mr O'Reilly said that while such a scenario was slightly incredulous for us in the west, these type of delays are common in the east.
He added that APEC is strongly representing to the Irish oil exploration firm that the funds will be received by the new backstop date of September 30.
The Providence Resources boss said his company has seen evidence of the funds from APEC's own financiers flowing towards its bank account and it is in a bank en route to here.
Mr O’Reilly added that even if APEC had provided the cash last autumn it would not have been used before now because of the delay the company had experienced in securing state consent for a site survey of the Barryroe site off the Cork coast.
He said the company has already explored a number of legal remedies that might be open to it if the funds do not arrive as promised by the end of the month
who sold 30 shares
could be the panic seller ....LOL
Last deadline:
Ceo knows more than the rest of us
Ceo has put his job on the line
Ceo speaks to Apec everyday
Ceo told journalist that funds are coming and to ask him again next week
Ceo has seen the evidence of transfer!
What's another week when we've been waiting 12 weeks!
Six days left.....payment near four months ‘on way’
And now six days left.....I’d say we were being lead a merry dance, but when CEO believes it with all info to hand, hat hope have we got......hope it does, but realism starting to kick back in....PVr board seem to have lost any faith
On €80 worth!
Sure I couldn't have put it better meself!