Member Info for Flombo10

The energy levy of 35% is suspended if oil prices fall to or below $74 but it has to be for two consecutive quarters.

With current oil prices ,cost cutting is now an absolute imperative unless we get a costs back farm-out within weeks .

My local supermarket market here in Tipperary has a high turnover and (profit ) than eog and the manager is on €60,000.

It’s not acceptable that roughly our net profit without Will’s salary is roughly equal to Will Salary .

I am not completely familiar with U.K. taxes , but don’t oil companies pay 30% +10% + energy level or has that been changed .

Gehaka, I got a totally different answer from ChatGPT where EOG is top choice because it has a license, it has done that 3-D work while here we are still waiting for our license and Barryroe license has expired. Shows the importance of good prompt engineering techniques and caution is always required when using AI. For example , “ less political resistance “- what does that mean ??

Come on,even the P& D merchants cant be bothered with us !!!!

Thanks Donalb, I stand corrected

And it has a re-gasification unit which means ( and correct me if I am wrong ) take natural gas in and create LNG. So much better to use Irish natural gas than fracked gas for this .Agree Donalb , no excuses left for not developing inishkea and corrib south.

Hopefully some of the loyal shareholders here can use this pump and dump operation to get some profits out before the scammers disappear .

Not another P&D

Yes ,RBL would be a good route to take but it’s becoming more difficult to get in the U.K for oil& gas sector . For example, I think either Nat west or Barclays are phasing this type of loan out by end of 2025-26.

I certainly would not be in favour of selling any of our stake in Wressle because of its potential as Bobbybee mentioned . I would happily invest in an open offer with pre-emption right-for that development. Otherwise the money raised would more than likely go down the drain vis inflated salaries . Also stating to think, as Vernetles has argued that PRD getting their successor licence could kick start things in Ireland . Not as optimistic with Cloughton as others here seem to be with Miliband in charge-he is another Ryan type character.

Yes, Serif, that why I mentioned June/july

Also PRD are quiet open ( actually very open) about having an outline farmin agreement with vermilion . If we have also, let’s start, at the minimum dropping hints .

-by use of appropriate language , by purchasing or hiring decisions which can lead to that conclusion.

Vermilion have us by the liathróidí here . Nobody is going to venture into their territory. It suits them to wait as the licence expiry date approaches and to see if PRD get their successor licence .

But overall , as mentioned , we have a licence ,Vermilion just need private reassurance. Gov will use the same arguments they used with LNG -we are following the legal process, eog has a licence etc etc .

What events could changes things . EQ farmed out , PRD striking rich in Morocco in the next few weeks and buying our licence , Polus and partners are deliberating knocking the share price down for a peanuts bid.

Imho, Will has until June 30th or small shareholders should get together and demand this need to be sold in order to safeguard some of our own capital .

Tánaiste Simon Harris will today chair a meeting of the Government’s Taskforce on Emergency Planning, which will discuss Ireland’s ability to deal with a potential attack on our energy supply.

It is understood the taskforce will consider the learnings from so-called ‘Exercise Cathal’, which ‘war-gamed’ a scenario in which Ireland’s gas pipelines were damaged.

The meeting will be told that there are a number of large gas users in the State that would be particularly at risk from an attack on our gas supply.

The meeting comes a week after Environment Minister Darragh O’Brien secured Cabinet approval to proceed with plans to establish a liquefied natural gas (LNG) terminal despite warnings from enironmentalists and climate scientists.

We have a responsibility that if anything were to happen to interrupt our current gas supplies, we would need a back-up. It would be irresponsible not to do that,” the Taoiseach said.

‘Exercise Cathal’ took place late last year and found that if Ireland’s gas supply was targeted, some 250 industries would be immediately affected, including the pharmaceutical industry

Congrats to all the shareholders ( not the tampers) who stayed loyal. Never invested myself due to its debt and lack of income stream but this sale, although not as high as some might have hoped ,clears that debt and gives time for realization of IR . Below is more details of the desk from the business post . Congrats again and enjoy the ride .

https://www.businesspost.ie/tech-news/irish-ai-cybersecurity-firm-getvisibility-acquired-in-multimillion-euro-deal/

“

Ronan Murphy, who previously founded Irish cybersecurity firm Smarttech247, which went public just over two years ago, has struck gold again with Getvisibility, a second company he established, being acquired in a multimillion euro deal.

No financial details relating to the transaction have been publicly disclosed but industry sources estimate that US multinational Forecepoint has paid between €70 million to €80 million to acquired the Cork-based AI firm, which specialises in data security.

-Details of the deal for Getvisibility were first revealed in regulatory notices published in London on behalf of Smarttech and Sure Ventures PLC on Monday.

Sure Venture is a listed investment firm that invests in funds run by Sure Valley Ventures, a VC that specialises in AI and cybersecurity startups. It said it expects to generate a gross cash inflow of £1.52 million after selling its stake to Forcepoint , with the sale representing a 4.5 x multiple on its total investment in the firm.

Gareth Burchell, a director at Sure Ventures, said at the end of December, the carrying value of its investment in Getvisibility was €7 million.

“This is an excellent result for Sure Ventures PLC and its shareholders,” Burchell said.

Interesting comment from Niall Collins ,a junior minister from Limerick , which shows how different this government attitude is compared to Ryan.

“We are a small island on the edge of Europe that is reliant on imports to meet our energy requirements, as seen by the effects of the energy crisis following the Russian invasion of Ukraine.”

We need to stand on our own two feet as a nation in terms of our energy supply, said the Minister of State at the Department of Justice.

“This terminal will provide a temporary gas reserve that will be critical to our energy security, particularly helping us to guard against any interruption to gas supplied by subsea interconnections.”

The Policy Statement on the Importation of Fracked Gas will no longer remain in place.”

If they have lifted the ban of fracked gas , hard to see them objecting to exploring for the more climate friendly natural gas.

With Trump halting ( ending) support to Ukraine and Europe rearming , the world has changed utterly .

In Ireland , we are at the end of the gas pipe . An FSRU unit would have about 2-3 weeks supply when it becomes operational in two to three years. The government should now not only be actively encouraging natural gas exploration but giving financial incentives for it .

The Barryroe management,whom I thought were utterly incompetent did one intelligent thing . They employed an Irish PR agency . We should do the same .

Interesting post from keithoz in PRD chat:

Where is the Irish government going to get one from? Do they know there is a long queue, stretching to beyond 2030? PRD are already in the queue with a major industrial partner.

"FSRU availability is tight due to an acceleration in European projects and this trend will continue as plans for LNG import projects emerge. Increasing FSRU supply will be challenging due to the unavailability of shipbuilding slots, which will spur demand for LNG carrier conversions."

https://www.rivieramm.com/news-content-hub/news-content-hub/the-themes-grabbing-attention-in-the-lng-sector-in-2024-83136#:~:text=FSRU%20availability%20is%20tight%20due,demand%20for%20LNG%20carrier%20conversions.

Yes, trackman but they can’t base their gas reserve policy on that as there is no guarantee extra gas will be found.

Yet if they bring their change of mind on gas security to the logical next step - it is to replace as must as possible imported gas with domestic gas .

Also the new LNG facility will still take 1-to 2 years to get up and running , not including time for planning and regulatory issues . So now,the government should cement gas supply security ( not to mention 40% tax rate revenue -which would pay for the terminal )by giving , even covert support to eog . We should know within the next few weeks.

Part 2:

Cabinet ministers will be told that the facility is essential to Ireland’s energy security, as nearly 80 per cent of Ireland’s gas needs are imported through a twinned pipeline connection with Britain, and the remaining 20 per cent of supply from the Corrib gas field is projected to decline in the years ahead.

Ministers will also be told that the vulnerability Ireland’s gas pipelines has also been highlighted in recent years by the presence of Russian submarines in Ireland’s waters.

The decision comes despite statements by former environment minister Eamon Ryan at the end of last year that an LNG facility was no longer necessary nor advisable.

An analysis from Gas Networks Ireland found that the project would take much longer to deliver than originally expected and that the rate of gas “boil-off” in such facilities would require a significant volume to be sold commercially into the market every year anyway, negating its purpose as a “reserve”.

A certain volume of gas will have to be sold into the Irish market on an ongoing basis to ensure it doesn’t just boil off, while the tankers will also have to be regularly replenished by commercial partners.

From today Business Post

Part 1

The government is set to approve Ireland’s first liquefied natural gas (LNG) terminal at a cost of €300 million, with environment minister Darragh O’Brien bringing a memo on the project to cabinet this week.

The terminal is to be a state-led emergency gas reserve despite a push within parts of government to go with a commercial model.

Gas Networks Ireland will be tasked with leading on the project, where the state will purchase a floating LNG facility outright at a cost of €300 million, while the running costs are expected to be in the region of €60 million a year.

It has been decided that purchasing a facility will be far more cost effective than leasing a facility, especially as it is expected to be needed for at least the next decade. The cost will ultimately be borne by the consumer through their bills, while a final decision on the cost of the investment will be brought back to government at a later date.

Commercial partners may still be involved in the operation and replenishment of the LNG facility, even as the overall project is to be “state-led”. The facility will also require regular refilling due to the rate of gas “boil off” that happens with liquefied gas, meaning some gas will have to be sold into the market on a commercial basis to avoid it leaking into the atmosphere.

Gas Networks Ireland will be asked to establish the most appropriate location for the floating facility and to ensure as a priority that the cost of the new infrastructure is minimised for the consumer.