Member Info for Cephalo

Why wouldn't Spoton exercise them? They can make an instant profit above 3p

That doesn't really follow, the consortium is made of heavy weights, and I am sure they would have negotiated a fair rate. The posts in the previous thread are mere speculation anyway because we don't know what they were offered, but it was sure to be attractive to the members.

It's a good point, I always assumed the deferred payments would come out of this and profit share for the consortium of companies. However, what never came to light is the agency kick back SpotOn might have had their eye on. It could have been anything from 0-100% share of Barryroe itself, and for the companies, just a rate of contractual payment, plus and ownership % ranging from 0%+.
It strikes me they could easily have blown the deal by not getting this right, and being greedy, as a separate issue from the export credit one. I suspect no service companies ever actually take a share in an oil field, which means it's highly likely you are right, and they would end up milking it. We are definitely best shot of them, and aside from lost time, they made nothing now due to their failure to raise the finances. As they established a business plan and introductions, PVR get a jump start at no cost except for slight dilution and lost time (only in perception because no actual delays to the operational process as yet)

Haha! True ftj, but he doesn't strike me as a guy short of a stash. Plus, that will also become apparent.

Interesting politics but I would assume that linn has already been informed one way or another whether permission will be granted. It will be yes in principle until PVR have put the shape of the deal to the government. Otherwise by now, he would be a fool not to throw in the towel. Because in Q3, it will all become clear one way or another whether this will proceed. It would be pointless to drag it out until then for the sake of 2-5 months on the payroll.

Good news? Bad news? Just what is going on with Providence Resources and Barryroe?
Despite losing another partner, the CEO of Providence Resources remains adamant that the company is heading in the right direction – and that the decision to terminate the Norwegian deal will benefit shareholders. So, what is behind his optimism?
23rd Apr, 2021 - 4 min read
Tom Lyons
Chief Executive
Tom Lyons
After a year of engagement with a Norwegian consortium, Irish listed exploration company Providence Resources has backed out of the deal. Yet again, long-suffering investors in the stock could be more than forgiven for being disappointed in the company. Its share price fell today before recovering most of the lost ground as investors absorbed the news. So just what has happened? And how bad, or good, is this news? The end of SpotOn’s involvement with Providence Resources had been coming since at least February when it began to become clear that its team, while enthusiastic about its prospects, just weren’t…

Well there's not going to be enough electricity from green sources at the pump for some considerable number of years to come. Millennials may think it's clean because it comes from a plug, but the reality is we need oil and gas for the next 30 years at least. Best wishes

"jackals" without the auto correct

There's something sinister about TheShen. Hannibal Lector springs to mind. The endless presence over Easter on this bulletin board, is OCD and very creepy. I think it has been lobotomized. I wonder if Jackels cook roast lamb

I refer you to my previous post PS. See quote from RNS. It's pointless speculating about the other parties demanding a greater proportion. It was clear enough the 50% is still in place.The structure of the deal remaining the same. It's shares for services. GIEK were only lending, not taking a stake. One would imagine others will step in with lending, the take will be in interest.

"The overall structure of the farm-out as set out below remains"
- It would appear from this statement, that not.
I would hazard a guess other parties or bond holders will stump up the loan and benefit from the coupon or interest. Given GIEK were not taking a stake as such, and the rest are in it for services rendered.

Spoton were set up for the purpose of managing a consortium of top companies, it doesn't matter what Spoton has in the way of history or finances, it's brand new! Oilman Jim is an oilman, according to his claim. Maybe he doesn't understand the company was set up as a vehicle for the consortium. Here is a good example of how people don't stop to think about what's going on, and would prefer to listen to people they think are experts because they call themselves oilmen.

Plus, the UK government can't afford more overseas aid at a time when they have had to support the internal economy during covid, and eye watering welfare and house building costs to avert a homelessness crisis due to mass overpopulation which is only getting worse in the last 10 years.

The UK isn't connected to the consortium here.

Majorkid, you sound like an angry young pussy who could do with a good slap

PVR's O'Reilly stated in a presentation a while back they were not here to become producers. That does not mean PVR and LOGP won't stick around as passive shareholders in the upside created by the consortium who is here to do just that! A buyout would be at a massive premium.

I don't think people really realize how valuable this is. They will not get bought out cheap if there's a free carry. Why would you sell out before you explore the high pressure Jurassic

That must have taken out a fair few at this price level, I wonder what's on the book that holding this at this low level?

I refer to my previous post. My guess is some very tight trade today

The snapshot of the article tells me that Alan has been busy as promised, a deal has been finalized. When will there be an RNS? Probably, as stated, in the next few days. Not necessarily tomorrow morning.
Does that mean that those folk who sold out and boldly mentioned the fact on here yesterday and the days before will be able to buy back in Bedford the details are ready in the RNS? Sure they will - but only at a massive mark up! And in the days before the RNS, a steady huge increase will be followed by the RNS itself, and further joy!
This will be huge for Ireland, and it's going to attract a lot of investors.