Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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It is interesting that Larry Goodman was going to end up with nearly 95% of the share capital before Eamon Ryans cancellation of the licence anyway. So everyone is left with the small percentage they would had to accept anyway. Now a newly named company, still based around Barryroe is getting a big investment ( No need for three times that sum). The question is what is the money going to be invested in. Either a renewable energy project which you would imagine would revolve around storage or extraction of natural gas and the other possibilitily is taking a case for compensation. Possibly both
An interesting twist in the Barryroe update that LG/Vevan are making a compensatory gesture to existing shareholders of a 5% profit share of future production or asset sale proceeds for up to a 10 years period from July 27th 2023, I would suggest some significant litigation and representation to the Irish government is not very far away and I am sure the Lansdowne team will be lining up their communication plan with LG in the very near future,…GL S
In relation to Eog, they do have the get out that it’s a natural gas play and not an oil play ( as silly as they really is) but with extremists like Ryan, you can never tell
...while LOGP mourns the loss of Barryroe EOG investors are very hopeful about Inishkea! Why would anyone expect a Government to be consistent? Except, allowing Inishkea to progress would surely open the Irish Government to claims about loss of profits from Barryroe which would add £millions to LOGP's claim. Perfect storm. And no less than could be expected from an incompetent Government as almost all of them are. Scum rises to the top etc.
Longerwait: again, what is your point? We all know LOGP is a cash shell and a very attractive one! Talk of BEY reversing into it and pursuing legal action is nonsense but there are plenty of other opportunities. Just look at ORCA's recent performance to see how a washed-up oil company can recover.
All the more room to stuff cash in after Ryan takes a beating courtesy of ECT!
If you wait any longer the good ship LOGP and Captain Boldy will sail without you.
The shareholders have to vote on it before its goes back to courts for final approval. Shareholders are not going to give it away for next to nothing to LG . Many will feel, let it go into liquidation and see what they get for its tax loses and exola from bidders
Just to set expectations - the future business plans will make no reference to the Barryroe oil and gas field or any future business plans that involve LOGP or O&G sector generally. The receiver (the bankruptcy administrator) must show a credible business plan. We already know that business plan will be based on renewables. They cannot act simply to try to take a legal action. Once the court accepts the restructured business (with all existing shareholders wiped out despite what manyana seems to think) then it can also pursue (a) legal action and (b) any other course of action it chooses - since it will be a privately held company, that will be the last you hear about that unless LOGP are involved (but in future, LOGP will find out stuff after the event)
Thanks Swizz. It will be interesting to see what happens.
Mb, not at this stage, but what it does underline, is that there is still a lot of this story to unfold, despite some of the absolute bile that is being spouted by certain individuals on this board,
You can certainly understand LG and Vevan trying to capitalise on the opportunity presented by the BEY board and if anyone thinks that LG is going to let Barryroe and SEL 1/11 disappear without a trace they are clearly deluded and Lansdowne and their supporters continue to be in a very strong position on the sidelines, it will be interesting to note what is disclosed later this week when the restructuring and ongoing business plans are shared,..GL S
Hello Manyana. Is there the possibility that the 1.05 million and the additional 5 million coukd be used to reverse into Logp and this allow for removal of cash shell status. Believe Logp need 6m to get the ball rolling again. Seems a bit of a coincidence that logp need 6m and the Boe rns mentions 6.05m ( initially)
The RNS is a starter for 10. They have stated they will be more specific later on in the week.
I presume all Barryroe shares will be quoted on Jersey rather than Dublin which will make Barryroe non-Irish and therefore can sue Ryan for the development costs and lost revenues.
The important statement in the RNS is the statement ""The Proposals will be put to meetings of creditors and members and are subject to confirmation by the High Court."
If there is only peanuts in it for the 80% of shareholders who are not Vevan would they approve any schemes that gave all the goodies to Larry Goodman for about €6m? Never.
Looking forward the next announcement proposed for later this week.
The Proposals will be put to meetings of creditors and members and are subject to confirmation by the High Court.
Well, does the BEY RNS of an hour ago clarify anything for S. Boldy and LOGP? He said they were keeping an eye on developments over at BEY. Can we expect to hear pretty soon from him, I wonder? What exactly can LG do with Barryroe, without involving LOGP? Can he just ignore LOGP and say go ahead with your litigation and we will attend to our own business, whatever that is?
What is your point, Longerwait? We all know that LOGP is currently a cash shell with a compensation claim in progress.
Which ought to make an RTO more attractive apart from previous tax losses. I'm not an accountant but I think LOGP is worth multiples of the current SP. The elephant in the room is it delisting before a deal is done. Which will be a new experience for me as I am determined to hold onto my shares.
If you had a dog that sick that would make two of you. Draw your own conclusion as to the best course of action in that case.
Check out HE1, drilling to TD next week, drilling same spot as they found multiple helium shows last time but drill broke, this time they could have a easy Discovery on their hands
Why do you keep posting Longerwait, do you think
that whatever you say is going to make a blind bit
of difference to the outcome?
A contemptuous silence would have been in order up till now but I think this person is suffering from deep mental turmoil, unresolved issues and even nightmares, arising perhaps from financial loss, given his recent history of posts that border on the hysterical.
Well said Manyana, I agree with you entirely Barryroe is the better deal for all.
Did you actually read the report on the Rosebank proposal?
First of all, the field is less in size than Barryroe.
The company developing the oil field is Norwegeian.
Thirdly, it states that it will produce crude oil which will be exported to Europe (no specific location) for refining and then reimported into the UK and elsewhere. So it will either be piped to probably Norway or shipped to somwhere else at great cost. So where are the UK guarantees in that?
Barryroe is abigger field and any oil produced will be refined in Whitegate, so it remains in Ireland from start to finish.
So which is the better deal? Barryroe of course.
Read before opening your big fat mouth in future.
Seriously you need help dude,finding it very hard to debate with a broken record.Chill man, it's only a punt for most of us here . Take it easy,gently, you can shake the world.
Fair point manyana.
noted.
Why do people continue to respond to Longert*t. That is exactly what he wants.
Obviously, he either lives in some "strange" land or he suffers from insomnia (probably cursing his investment in crypto), or he is in jail as he posts at some ungodly hour in the morning, note "4.50" today and something similar on other days. And, in the past his "alter ego" used to post at similar times.
So, either ask him about his abortive crypto deals or just ignore him.
In the meantime, the following article is in today's Irish Independent.
https://www.independent.ie/business/irish/lansdowne-oil-says-door-still-open-for-legal-action-against-state/a735619027.html
Im afraid 'saving ryans privates' Is going to be a horror movie. The legal wolves are queueing up for a bite.
chomp chomp.