Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Bit of an oxymoron,making sense and holding this share!
Great post Manyana. You are the only one who makes sense here!!
Nice Post Manyana!
It's pretty clear, we just need to wait and I'm sure it will all play out perfectly!
I have been watching and waiting for the deal without putting in my two-penny worth but the panic yesterday is a laughing matter. People either do not read, do not understand or just don't trust what they are told.
A few facts which seem to have been missed.
1. The deal could not be considered until the equity from APEC had been legally returned. APEC had 50% of the EXOLA shares. Check the RNS and you will see that the legal return was only confirmed on 20th October, ten days ago. This was one of O'Reil let the legal eagles wrap this up properly. Anybody who has worked with the law in deals and contracts knows that they take whatever it takes and the fact that they extended the exclusivity is a sure sign that Linn and his team know the basis of the old business adage which says: "don't spoil the ship for a ha’p’orth of tar". "a ha’p’orth" being an old half penny.
Aly's biggest mistakes to give that equity before a deal was written in stone. A major mistake by whatever legal team he used to allow that to happen.
2. The Spoton deal has changed from its original plan for the better. It now "..includes an Early Development Scheme (EDS) work programme." The original exclusivity did not include this but this has surely doubled the work needed for the agreement if not more as we are now given a two-year development rather than a two year planning for a development.
3. Questioning Spoton's credibility by asking us to look at its website is childish. Check out Linn's presentation early in the year where he points out their credibility. in their consortium is Schlumberger. If Spoton was a "fly-by-night" Schlumberger would not give them the "heat of their ....". Schlumberger could have done this deal on its own. Its revenues in 2018 was €32.8billion so the whole Barryroe project is "small potatoes" for them and it has a huge reputation to protect so it would not be here if it thought the Barryroe potential was pie in the sky or that the deal was not a runner.
Back to watching and waiting. I have been waiting on Barryroe since 2012, wondering what gremlins in O'Reilly's mind made him change it so often, so I think I can wait a little longer.
Finally, go back and watch Alan Linn's presentation at Proactive just about two weeks ago and you will see he anticipated a possible delay. Here is the link. Watch it and don't presume everyone is telling lies.
https://www.proactiveinvestors.co.uk/companies/news/932354/providence-resources-ceo-alan-scott-linn-presents-at-the-proactive-one2one-virtual-forum-932354.html
So, get real and as John Milton said "They also serve who only stand and wait".
PVR is a warrant machine! They have to keep the dream alive! Who is going to buy the 3p warrants.
JARV
"Lots of people publish lots of tripe on these boards and have no clue how such a deal works. Perhaps you could explain all of this to us know nothings."
Why don't you lead in this one? Since you seem to be an expert.
JARV
Don’t believe you spoke to Linn. Your story is all horse.
Of course there would be lawyers involved - how else does anyone complete a farm-in or out ? Ridiculous statement.
What do you mean ‘rest is all done’. What exactly is ‘the rest’ and what is ‘done’?
Final stage of completion process. What is the completion process and completion of what ? Lunch ???
Lots of people publish lots of tripe on these boards and have no clue how such a deal works. Perhaps you could explain all of this to us know nothings.
Yawn. It's absolutely outstanding the amount of people who try to make up news in the absence of news.
When I last spoke to Alan, Alan was impressive, but it was the couple of well heeled blonde 6.2 dudes that were at the meeting, that really grabbed my attention. In Dublin 2. Next to Davy's.
Great to have a smart a.. on here ...
Rocklawn....Alan confirmed all that and also that having tried some tester pots, he is going with eggshell grey for the box room!
JARV55 .... did LINN say anything about closing earlier than the new date of 30/11 .... could we see a RNS mid next month or will it go down to the wire again....
"I spoke to Alan..." : )
Sadaat Umar
@sadaatumar
#PVR #LOGP I spoke to Alan Linn this morning & Acc to him, delay is due to extensive paperwork, many parties, lawyers are involved to make sure all done properly. They are at final stage of completion process. Rest all is done, just paper work is finalising.
Delays happen over the most minor contract details, finalising terms with multiple contractors is replete with difficulties to ensure all interests and bases are covered. With the dreaded second wave I'm sure there is concern around penalty clauses on delivery timelines for instance. Not serious would just need thrashed out to satisfaction of all.
Many of these businesses are faced with the choice of laying off experienced staff, warm stacking a rig or equipment lying idle if it is not used in Barryroe. For a small outlay it can be put to work on a deal that doesnt tie in all time low prices but rather gives them a share in the upside of the development. It is surely an attractive prospect for most in the current challenging environment as many will note (and be at the forefront of) the lack of investment which inevitably leads to tightening of supply and higher prices. All benefit.
Delays happen over the most minor contract details, finalising terms with multiple contractors is replete with difficulties to ensure all interests and bases are covered. With the dreaded second wave I'm sure there is concern around penalty clauses on delivery timelines for instance. Not serious would just need thrashed out to satisfaction of all.
Many of these businesses are faced with the choice of laying off experienced staff, warm stacking a rig or equipment lying idle if it is not used in Barryroe. For a small outlay it can be put to work on a deal that doesnt tie in all time low prices but rather gives them a share in the upside of the development. It is surely an attractive prospect for most in the current challenging environment as many will note (and be at the forefront of) the lack of investment which inevitably leads to tightening of supply and higher prices.
Delays happen whether the CEO is tanned or not!!
Don't worry too much about it.
I cannot even buy 1000£ worth. No liquidity here. Imagine if this spikes and you want out. You can’t.
Management has the audacity to do this to shareholders again..If they knew they weren't able to cut a deal you announce it long before the cutoff date..and if they were close to a deal why does it take another month!
Beggars Belief!
Shameful
The warrants issued last week are due for admission for trading today. Might be a bit of a sell off. Not clear meself who owns these. Is it Spot On?
I think we are on track to close out this deal ... even if we have to wait another 30 days..... stay calm, stay focussed .....
PVR seem to have a bit of a problem accidentally doing deals with spivvy companies that don't really exist... Check out SpotOn's website... lol
https://spotonenergy.no/
"Looking to sell or farmout your offshore oil and gas field development? Contact us for a discussion"
I'll take that game on
Pretty much as expected. Rather cryptic.