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That 6k would earn you almost £550 per year in dividends if you held. I'd personally need a lot more than 1 years dividend as profit to sell.

The delisting is not the end of the company, it is just a switch from a publicly traded limited company to a private limited company. If we were to win a payout similar to Rockhopper in Italy the proceeds would just be distributed to shareholders and the company wound down. Delisting is not the end of the road.

I think it's possible but unlikely. If it is offered by the government it should only be accepted with some additional compensation as Eamon Ryan has materially damaged the company and it's shareholders after years of delays and additional dilution etc

Far left government has absolutely been more destructive, think Stalin and Mao. Just those two people are responsible for ~100m deaths in the 20th century. Socialism is ultimately reliant on the use of force which I think Flashgarden was trying to make. May I suggest you read The Road to Serfdom by F A Hayek, or maybe Gulag Archipelago by Aleksandr Solzhenitsyn. Both lay out the harms caused by the good intentions of far left ideology.

Not really but the previous major shareholder of Providence Resources, Tony o'Reilly, passed away over the weekend. He was a big believer in the Irish producing their own oil and had invested a significant amount into the Barryroe project over the years.

No expert at all but if the LU was reinstated in a year's time I think LOGP would still have a case through the ECT. The devastation to the share price, since the LU was first applied for, has caused lasting damage to the company and its shareholders. The additional dilution from issuing shares after such bad news, the years wasted, the additional interest payable to loan holders etc. are all attributable to the bad faith decision of Eamon Ryan and that should be persued through the courts regardless of whether the LU is eventually approved or not.

I'm no legal expert but I doubt the ECT route will be open to Barryroe as they moved jurisdiction after the decision was made.

Longerwait: What?! We had no idea...thanks for letting us know, why didn't you mention it earlier!

Let's wait till we actually hear the deal, it might be terrible for PIs, it might be decent. Either way we can't do anything about it due to the suspension you previously pointed out.

Longerwait, there will be court cases over the failure by Eamon Ryan to renew the licence. Just because the acreage expired in 2021 doesn't mean BEY can't sue over how it was handled by the department/Ryan. The point is, they had rights, and these were taken away after significant work was done over the years to bring the field to development. In a functional democracy the government can't take away rights on a whim without facing repercussions through the courts.

The real reason it was refused was because Ryan doesn't want it developed. The last thing he wants is for a major to come in and quickly proceed with drilling. We are talking about the leader of the Green party in Ireland, a man who has publicly called for an end to fossil fuel use. The man wants villages in rural Ireland to share a single car, he wants to drastically reduce the number of cows farmers can own, he does not want to be the minister in charge of the first oil field in the country.

Eamon Ryan has exposed the Irish taxpayer to a potentially massive lawsuit to prevent drilling at Barryroe. The idea of him then turning around and giving the licence to another company is laughable! His main priority is to keep Irish oil in the ground, even if it means shipping it in from the middle east etc. He is an extremist regarding climate change and as such has zero pragmatism around what is actually in the best interest for the Irish people he is supposed to represent.

Reprehensible behaviour from the Irish Government to not engage with the arbitration! Trying to pull out of the energy charter treaty because it doesn't suit them now. At least this will assist Lansdownes case as it shows the bad faith engagement that Eamon Ryan has continuously applied.

At this stage granting the LU should not prevent legal action as Eamon Ryan's delays and eventual refusal has killed the market cap of Lansdowne and Barryroe and as a result has hampered any potential fund raising.

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.

I was thinking that a way for the government and Ryan to save face would be if they paid Barryroe and Lansdowne to build an offshore windfarm instead of a straight cash settlement. Not sure if there is any mechanism for that to take place within the current legislation but would be a won win for us and Ryan.

They're struggling with the decimal point, same transaction and reversal has gone through at £1,600, £160,000 and £17,000!

I see your point about it appealing to his base but

I think the idea of taxpayers having to foot the bill for his decision amid a cost of living crisis while energy shortages hang over us will turn enough against him.

The Government won't want this going to trial; as a country that relies so heavily on foreign direct investment it's a bad look that a foreign company's ability to operate can be taken away by a single arbitrary decision of a minister. The damage to Irelands reputation as a business friendly country could end up in ruins. I hope all companies approaching the IDA about setting up in Ireland are asking about this!

After taking almost two years to approve the LU the DECC gave only 3 weeks to provide evidence of funding...this didn't leave Barryroe with much option but to take any deal offered. Goodman's offer provides a backstop so that if another company wants to invest they will need to offer better terms. This talk of a death spiral bond is alarmist, make no mistake about it, without this deal Barryroe would be dead with shareholders getting nothing.

Early paragraph in the 2021 results should really put the pressure on Ryan. There should be protests in the street over how he has delayed Barryroe during an energy crisis.

"The key barrier to progressing the project is the delay in Ministerial consent for the Lease Undertaking, to permit us to drill an appraisal well next year. Once we have the results of this appraisal well, we are confident that our development plans can be progressed rapidly and Barryroe can have a significant impact on Ireland's security of energy supply over the next two decades. It's an opportunity we cannot afford to squander as, in any scenario to 2050, there is still some level of demand for oil and gas through the duration of the energy transition to Net Zero."