focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I see the motion brought by the Independent TDs was not voted upon but the government's counter motion was passed by 64 votes to 50 and 1 abstention. Where were the other 45 Dail members who did not vote?
But Ossian Smith, second lackey to Ryan in the Department of the Environment, Climate and Communications i who presented the government's case only mouthed off what is written in the legislation so it had to win. He never identified any specifics only stating the obvious.
What an absolute farce and a total waste of time except that the Barryroe name got some free publicity.
Nothing changes and we still wait for the approval which has to be forthcoming sometime before next year for the actual permission to go ahead and drill the appraisal and from it the wells which will deliver oil and gas in 2026.
https://www.agriland.ie/farming-news/tds-vote-against-new-oil-and-gas-exploration-in-ireland/
LOL - more dilution as expected - what a farce. Just got to keep the gravy train rolling!
Millions upon millions blown over the years and absolutely nothing achieved.
Think it will be any different this time?
What have they been achieved in the last decades. Oil price is skyrocketed. Share price not
The Issue Price represents a discount of 35 per cent. to the closing price
That Oireachtas debate was painful, and a good indicator of how screwed the country is. Everyone agrees the renewables transition is not working, or at least going too slowly, but there is no Plan B.
It is clear that Ryan and the Greens are holding Fine Fail and Fine Gael hostage with their Green agenda. He has obviously said "back me or we go to the country" and like the cowards they are, that is what they are doing.
This whole debate has put Providence and Barryroe firmly on the map. Before today it was probably just another name to many people but now it is front stage and Ryan's denial of its existence shows he cannot look his "enemy" in the eye. But the cat is definitely out of the bag and his lies are coming home to haunt him.
You can see from today's debate that they are frightened to go against him as they know he has threatened to bring the government down if they do by withdrawing the Greens from government.
But if things get too bad and you can raise the issue of farm sustainability that not only will the Independents vote against the government but so will all the Fine Fail and Fine Gael country farmer TDs because they must now be scared of losing their seats because this fuel issue will bring them down if they do not support it.
So if we get to the winter and there is one outage or the cost of fuel continues to rise this government is for the birds.
We cannot say no-one is making the case for developing Barryroe. The rural independents have spelled it out in detail. The invasion of Ukraine and the energy price emergency make the ultimate case for developing Barryroe.
Thanks for link to scrip Brendanor. Usually stuff from all the left wing parties. What I found interesting is that no FF or FG deputies spoke in the debate apart from Fg spokesman, which actually I think is an encouraging sign. On the negative side , will the licence decision now be delayed for more months while waiting for new legislative position on exploration.
https://gript.ie/were-in-the-beginnings-of-a-recession-stark-warning-from-rural-tds/
Govs counter vote against rural tds vote will spell the end for barryroe development
Only chance of a little bounce now for shareholders will be compensation option which could be years in the making,
Ff,fg,greens etc a truly shower of ba$tards and sf will prove to be equally as bad.
The counter motion proposed by the government against the rural independents will pass
What a pain. Just finished listening to that load of rubbish for two hours.
Great pity Ryan was not there or they would probably have had a real field day. He got enough stick as it was and his latest statement that people should contact social welfare if they could not afford both heat and food was met with derision. A bit like Marie Antoinette, "let them eat cake" which cost her her head.
The gist is that the amendment will be voted on this afternoon.
According to the government their representative said they are still actively considering the granting of the Providence Resources PLC (AIM:PVR, OTC:PVDRF) 2023 appraisal well for Barryroe project, offshore Ireland.
It is clear they are trying to find any chink in the Providence proposal that would allow them to cancel it under the current legislation and that is have they been dragging it out as long as possible over the last year but it is still scheduled for 2023.
If nothing else, this motion will put paid to Ryan finding any red herring that could stop it and I note there was no mention of Rockhopper by any speaker.
I suspect the motion will be passed or all hell will break out as no real alternatives were forthcoming for all the antra speakers.
Decision this afternoon so we should at least get some good mentions.
One positive outcome to todays debate in the Dail is that is is now clear that Providence should commence legal proceedings shortly. It will also be easier to demonstrate that Providence has been very badly damaged financially by ideological positions held and supported by members of the Dail and that these dogmatic views are inhibiting progression of legal contractual obligations that the state has.
it is clear that the Lunatics are now in control in the Irish Parliament. Providence will have to sue the Irish State under the Energy Charter Treaty. Eamonn Ryan is clearly in breach of the code of conduct with his stonewalling and mistruths. The Irish have benefitted from easy money and a series of very fortunate events in the last 30 years. Ireland is not the center of the World !!. The World is changing. Money and power is shifting east. We have nothing but group think in Ireland. Independent rational thought is not promoted. There EU is very unstable as is the Euro. A major depression is very likely and Ireland is very vulnerable with the huge national debt. Shame on the Politicians of Ireland and shame on the voters for electing such an incompetent bunch of clowns to represent them. Sinn Fein are not responsible for the present mess in Ireland but having seen some of the garbage expressed by their members today in the Dail, I do not think they will improve things at all. The Rural TDs appear to be the only sane individuals left in the Dail.
Just unfortunate that Eamon Ryan won’t be there himself to take the two hours of questioning due to covid.
The government gave to face the facts and the delusional Zurich media should be providing balance
A hugely interesting article Brendannor possibly a game changer starting to look good here now thanks again for posting massive outcome awaits
I see the members motion is down for debate at 10.am tomorrow and is scheduled for two hours.
https://www.oireachtas.ie/en/dail-schedule/
You can watch it live at https://www.oireachtas.ie/en/debates/ and click on Watch Dail Eireann live.
It's like Ryan has his countrrargument ready to go , to hell with the taxpayers.The tax and spend Greens.
By Paul Cunningham
Political Correspondent
A proposal to significantly increase Ireland's electricity supply next year, at a cost of possibly hundreds of millions of euro, will be brought to Cabinet tomorrow by the Minister for Climate Eamon Ryan.
Under the plan, Eirgrid would purchase an additional 450 megawatts of electricity - equivalent to the annual output of a large generation station.
It is understood the plan envisages Eirgrid buying temporary electricity generators, with the cost being recouped from customers over a three-year period.
"The Iron Law of Climate Policy: When policies focused on economic growth confront policies focused on emissions reductions, it is economic growth that will win out every time."
https://rogerpielkejr.substack.com/p/the-iron-law-of-climate-policy
Interesting that the rural independent alliance have a private members before the Dáil this week on Wednesday about the Barryroe licence & energy security
https://dailbusiness.oir.ie/motions/619?lang=en
It's a red day across the markets. To be honest, I feel gratified that anybody took enough notice of PVR that it went down in tandem.
It may well be the opposite that Larry is loading up with a new CEO appointment in the pipeline.
Watch Barryroe becoming a more public issue is the coming week
Too true. Maybe get an RNS soon. Watch the stampede for the door if that's the case.