Member Info for Cephalo

They can stand up in parliament and say whatever claptrap lies they like, but it won’t change the facts (flow rates and resources discovered in shallow close to land waters) which are all that matter in the litigation arguments.

They make most of us sick with disgust highlander1970. Apart from Boldy and co, I would imagine the lawyers would be hungry for as much as they can get. They must be due to recoup 14 years of costs on top of the 100m, plus interest, and plus lost opportunity cost. The very last thing O'Reilly did with the remaining budget was to shoot more seismic. Hopefully they take a good look. As i keep saying, the government has been perfectly willing to allow license extensions, surveys and research right up until the point where the company is in a position to go into production and development. How many other companies will be strung along for them to take their license fees before being cancelled on a trumped up technicality? The UK and Ireland politicians are corrupt. There's nothing else to it in my opinion.

KiddySmyth, you are the Rachel Reeves of the legal profession. In other words hopelessly unqualified as an actual, lawyer. Perhaps you are the photocopier assistant at a city firm, where you rubbed shoulders with the tea lady and now the Walter Mitty lead council and senior partner at Clifford Chance, right?

Clearly , as lawyers do, you have a way with words, hence the spouting of jibberish such as this intellectual gem “stop posting legal links as if that’s proof it that if can even understand them”

From wide spread to narrow, letting the market do its thing it seems. Soon whole penny movements not fractions, I suspect

To add to the below, the argument they peddle is that we can't get cheap gas or oil if we produce our own, because we still only access it on these exchanges - Brent WTI etc. So we may as well not even discuss it, and double down on green energy investment instead. That is not true when you set up domestic markets as they do in the US where their gas price is completely unaffected by current events. How politicians think they can ignore the logic of the 90+% majority of the population I do not know.

It is to most people's dismay in Ireland and the UK that the [obviously] same set of criminals are doing all they can to erase the economy culture, and identity of these islands. The creation of a police state via wokery and intolerance of views that don't conform, has galloped apace since lockdown. Starmer with his unapologetic 2-tier justice system, demarcating foreign crime and local objection to it, setting everyone against eachother on all levels of humanity to divide us, mocking us into silence with their diversity is our strength drum beating loudly and constantly in our ears. Milliband with his counterpart in Ireland dictating the dishonest and ludicrous ideology of zealot minorities. This long river of nonsense has its source in the EU and they are starting to realise the error of their investment ways, spending money on fanciful agenda that have corrupted and gaslit everyone.. Suddenly realising it maybe a good thing to have Britain back in the fold due to our top-notch secret service (the only institution worthy of note), after Trump has rightfully kicked us in the backside for failing to pay our fair dues.

The sooner these corrupt politicians are removed the better. One thing is for sure, if they don't go soon we are all in irreversible decline. Particularly if insane Zack Polanski and his Islamist trojan horse supporters take too many seats in the next couple of election cycles.

Britain and Ireland are ruled by clueless tinpot dictators. Thick as planks. No chance of a u-turn, they would rather see their own population die first.

Thing to remember is that the government makes money extending licences, permitting technical studies and seismic surveys etc. Will stop short of allowing product ion, I can almost guarantee it with the current politic. However, they may be strung along for as long as it takes to replace the government with a more right thinking party, by which time they may land lucky and be granted a production license. The granting of a licence upon discovery and successful appraisal would certainly tip the ECT in favour of Barryroe LU, however, that’s probably a couple of years from now if they are successful, and in the meantime they will be stumping up 100million plus for LOGP. If there’s a payout for LOGP, then yes, win-win for Europa

Apologies - jumbled sentence - should say "PVR/O'Reilly kept it on the back burner, as they were busy raising money to explore..."

In that debate they appear to rely on the same blarney as Ed Milliband in the UK. The argument seems to be that increasing development of local resources would lead to more fossil fuel dependance in the future. Therefore the right thing to do in the current climate is to double down on renewables. Apparently 41% of electricity demand was met by renewables last year.

But - I don't know how developing your own resources would cause more dependance than importing it. It's all down to the technology and the needs at the time isn't it? Perhaps there is the occasional day where 41%+ energy demand is met by renewable sources, but there's no way they can substantiate the claim they are more advanced than anywhere else with the techology, in as far as storing wind energy or solar on the grid for sustained use.

Finally, the Barryroe lie ~ "it never bore fruit" ~"we only have Kinsale and Corrib". Why is Barryroe brushed aside as worthless? PVR/O'Reilly kept it as an were busy raising money to explore and prove up every other license in his portfolio. His objective was to sell a portfolio of huge discoveries and never to become a producer. Trouble is he got greedy and left it too late. One main discovery of oil and gas (Barryroe) and a string of failures. By the time LOGP wanted to develop it the government made the excuse there were not credit worthy enough to develop it, and the rest is history.

Looks to me like the outcome for us will rest upon legal action in the ECT case. Good.

IJWT, you could do a detailed reading yourself rather than relying on others. A smart person would instantly twig the answer to your question just by looking at the title of the RNS.

Also, I don’t get the logic of losing money by cutting fuel duty. A smaller percentage of a higher oil/petrol price delivers greater revenue. That’s assuming they weren’t anticipating cutting duty entirely.

Agree with that Battle. Words cannot really explain the stupidity and lack of pragmatism by the UK and Irish energy ministers on this matter. At this stage I feel it will cost us dearly to revoke legal action, they have spent 2 years and funds assessing the legal merits of the case, in order to obtain funding for the ECT action.The carrot and stick of the license progression lost us 14 years so far, and as much as I would like to see Barryroe developed, it would be more economically mindful of the government to pay Logp compensation and license it to a new organisation on terms where they can easily recoup their loss. I don’t think for a minute Logp investors will trust the government on reinstatement of the LU.

100 bagger would be not bad for starters. Wish I had a spare £16k

It's amazing the fact that one or two individual fanatics such as mad Milliband make these decisions on behalf of the entire electorate, moreover they do not listen to the loud majority.. The system is broken and corrupted.

In any event, legal action will require the government to compensate shareholders for the extended time and cost outlay thus far with the ECT action. The outcome of which will be one of - out of court settlement, aborted claim If the LU ever gets reinstated, or full court hearing and judgment. Personally at this stage, I would love a swift and reasonable oocs but either way, I think we stand to gain.

The delay in the reverse takeover must be based on deciding one or other of the multitude of outcomes. Afterall, it's necessary to know in order to put a proper valuation on the new LOGP shares in the target company. For instance, if the government re-instated the LU, it would have to come with a penalty clause so the government can no longer play silly b*****s, and the valuation would be a great deal higher - even to the extent that the take over is forward, not reverse.

If these shares are as valuable as believed, then those lucky enough to buy in at 3-4p will effectively be in the same position as someone with 3-4p options exercisable when the price is £1.50. Whereas, if the share price is currently where it should be, i.e around 40p, the people buying at at 40p will not be getting the same uplift that is currently available to them now - when this hit £1.50.

Plus - Analyst may value the company higher than that after the ITR's

I can't get my head around the fact we send 15 billion gbp in foreign aid to countries like India who don't need it, and yet we keep borrowing 20 billion per month and have interest payments of 500 million per day to pay back. With no hope of paying it back. Looking forward to hearing Rachel Reeves' lies about the spring shoots of recovery later today

Jasper, I think you must be right, DMA trades either for marginal profit, but more likely to be internal/external institutional shuffling of blocks of shares among traders for clients requesting a holding in their portfolios. I suppose they can't put a premium on the price while agreeing positions, added to which it could be illegal in that it would distort the market.

I don't see this as institutional offloading of shares to the open market, otherwise they would drip the sales at a margin just higher than 3.5. A great example of this was with GKP when they raised a large chunk of money at 10p from an institution based on a debt for equity swap, months before the big discovery was confirmed. They dripped the shares back into the market at around 11/12p because they were in it just for the margin, not the prospect of discovery. That went on for what seemed liked ages, but when it popped it popped regardless.

Wish I'd invested a bit in that sofa.