Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I agree Spuddymadrid. There is simply too much money that can be claimed in a legal action against the government on the table, and Larry Goodman will need Lansdowne to take that legal action, as they are the ones that have been based in the UK from the beginning .
Either way, Larry Goodman is going to develop Barryroe, but having the option of insurance by way of the Energy Charter Agreement would be sensible
We should hear some news in January now that they have tidied up the share capital and raised £200,000. Lansdowne will remain a cash shell until the end of March, by which time unless they raise six million pounds or do a reserve takeover, the shares will be delisted. So hopefully they will take legal action against the government soon, or maybe a reserve takeover by Larry Goodman
If the same deal was on the table next month I would be confident that the main shareholders would take it, considering that they will receive two hundred million new shares at the current price of one tenth of a penny with associated warrants at the end of this month. They must feel that something is going to happen as "The Company has entered into an agreement with LC Capital Master Fund to extend the repayment date of its outstanding loan (the "Loan") currently due for repayment on 31 December 2023 to 30 June 2024 (the "Loan Extension"). The amount of the Loan on 31 December 2023 is expected to be £1,132,797. " All this in spite of the fact that the shares are due to be relisted at the end of March as the company is currently a cash shell.
There is also the fact that only Lansdowne can take the action in Europe against the Government.
We should find out pretty soon what is going to happen.
Https://twitter.com/paulmurphy_TD/status/1734681104345649626?t=llWycNlBekZdreEZfABS8g&s=19
It is a great development really. Looks like Barryroe oil and gas field is very much back on the table. I was surprised that The Farmers Alliance were tweeting about Barryroe earlier this month especially since they would have heard that it did not receive the licence
https://twitter.com/FarmAlliance1/status/1733132316015260125?t=JYplTQPDNbHUNWL2qwGRwQ&s=19
I also noticed that the independent member of Parliament for Cork, Michael Collins ( vocal supporter of Barryroe) was seen leaving the American Embassy with another independent last week. Maybe reading too much into that. Paul Murphy of People before Profit posted the photo
https://twitter.com/FarmAlliance1/status/1733132316015260125?t=JYplTQPDNbHUNWL2qwGRwQ&s=19
Thank you very much for the clarification Swizz. That is amazing news really. They are going to run the new energy project based around Barryroe exactly as before. It will be an oil and gas company. They will either have to satisfy Eamon Ryan's conditions around the lease agreement ( Three times the proposed funding needed), or they will have to take legal action against the government. Either way this looks like great news for Lansdowne who still have a 20% share of Barryroe, albeit that they need to either raise six million, or do a reserve take over in order to fully reinstate the company from its current position as a cash shell. Given they hold 20% of Barryroe, they should be able to do a deal with Larry Goodman, and they are putting themselves in a stronger position by raising funds by issuing new shares.
Not only are they telling interested parties that they are open to do business with oil and gas companies but anyone remotely associated with the industry.
Quiet the reply to Eamon Ryan's refusal to grant the lease agreement. In simple language -
Go f**k yourself.
The company is valued at just over 1.3 million pounds at the moment so if Larry Goodman paid 13 million pounds for Lansdowne that would value the shares at one pence each. A relatively small investment from Larry Goodman would really increase the share price by multiples from its current price.
Https://twitter.com/FarmAlliance1/status/1733132316015260125?t=kmgyS0r1YIZN1w-pMOZB3g&s=19
No problem Flashgarden. This is a high pressure share to be in. I haven't worked out the increase in the number of shares myself but I would say you are right. I suppose the good news that is been overlooked a bit is that the company reaffirmed yesterday that they are going to sue the Irish government and they are putting together the legal action that will be announced in due course and that is the reason for the fundraiser and expansion in the number of shares, so the 12% increase in share capital should be easily offset for shareholders once the details of the legal action are announced.
Dividing each share into two is just a way of raising new capital if needed as they are technically unable to raise anymore capital using the existing share capital
The Directors of the Company independent from the LC Loan Agreement Extension and Warrant Amendments, being the full Board, consider, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the proposed terms of the LC Loan Agreement Extension and Warrant Amendments are fair and reasonable insofar as the Company's Shareholders are concerned.
I think the greens will lose seats in the European elections in June and I think the local elections that will be held at the same time will see even bigger losses for the greens as people are going through a cost of living crisis and will hold the greens accountable for all greens taxes they have imposed on people.
Fully understandable. Eamon Ryan is fully aware of the financial destruction that he has inflicted on thousands of small shareholders in Barryroe and he doesn't care. Ireland could increase its emissions ten fold and it wouldn't make any difference to climate emissions. He is placing himself as one the global leaders when it comes to climate change and the citizens of Ireland have to pay for it. The only good news is that the Greens will lose a lot of seats all across Europe in the European elections that are due in June. The Greta Thunburg affect that brought them to power five years ago isn't there anyone. If anything there is a resentment towards the Greens this time round. Bill Gates mentioned the same when he recently said that the only way to reach net zero is back technologies that pull CO2 directly from the atmosphere, as he believes that renewables aren't going to have a big enough affect and people have turned against the Green movement because they are being forced to pay for climate change.
They should of course Clued if their legal team think they have a case. That is what the ECT is there for. I would like to see Lansdowne get their case underway as Eamon Ryan will do everything to run down the clock on the six month period during which the case can be taken. The fact that he replied to Lansdowne on the very last day to acknowledge their letter is proof of that. The Green movement will do everything possible to prevent either Larry Goodman or Lansdowne taking a case under the ECT so as polite as Eamon Ryan is pretending to be, make no mistake, he wants to destroy Lansdowne. He has already destroyed the shareholders in Barryroe Offshore Energy
Looks like the ECT is getting another run out in court
https://www.theguardian.com/world/2023/nov/20/eu-germany-and-denmark-sued-by-oil-firm-over-windfall-tax
Eamon Ryan's plan is to buy a storage ship costing three hundred million euros paid for by a
new charge on everyone's monthly electricity bill. He mentions that he might lease a ship but admits that is just an idea as there isn't a ship to lease. He is proud that he isn't building an LNG plant onshore like Ireland's neighbours. Better to use a ship and refill it with LNG gas on a regular basis. The company hoping to build the LNG at Shannon have said that they would give the Irish government one of their ships for free. No reply from Eamon Ryan so far on that offer. If this ship is purchased it will be in use for at least the next couple of decades and the cost and maintenance will be paid for by the taxpayer
https://m.independent.ie/irish-news/new-gas-storage-supership-would-cost-more-than-300m-so-ireland-is-likely-to-lease-instead/a1585890724.html
There is a list of the winners and losers on the Irish stock market this year. Barryroe gets a mention as a loser. They mention that the stock was down 75% before been delisted. They go on to say that the future depends on either Larry Goodman getting the government to reserve it's decision not to grant the licence or suing the government