Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I don't think that s going to amuse Goodman and others much. If that is not taking the p... Ryan is trying every approach possible to have the licence cancelled. Let the company wait for 18 months and then
set an unrealistic and out of the norm request with a 3 weeks deadline. At least things are moving but shows that government can not be trusted. Ryan is playing games. I can't see the main shareholders putting up with it.
Stuart has a point. If you have to use fossil fuels you might as well use your own. And even the greens can't say it makes more sense to import it.
https://www.bbc.co.uk/news/uk-england-63184412
France is doing it.
He might not but his successor will and in the meantime if he just refuses it the government will get sued. He s trying to buy time and hoping to be miraculously proved right somehow eventually unfortunately for him the situation keeps on going the other way with the Irish energy situation getting worse and worse as winter approaches.
Very true Donald, still if EOG is then given the go ahead by Ryan it makes it harder for him to keep on ignoring and blocking PVR from advancing Barryroe.
https://www.londonstockexchange.com/news-article/RKH/successful-arbitration-outcome/15599399
At the end of the day it either will have to be signed off eventually or the state will be sued if not and pay compensation to Providence. No doubt the state will drag their feet in courts but can't see any downside, money will come either way, just have to wait. Goodman didn't just join now to loose money.
Thanks Harka, much appreciated. Very good summary of the whole deal. Looking good and looking forward to the share price to double now followed by juicy dividends . Can't believe one can still buy at a lower price than pre suspension.
Eamon Ryan will eventually sign it off because he knows what s coming if he doesn't and there is not much he can do about it apart delaying the inevitable ; the law is not on his side. https://amp.theguardian.com/business/2021/jul/25/outrage-as-italy-faces-multimillion-pound-damages-to-uk-oil-firm (old article but very relevant and informative)
https://www.energyvoice.com/oilandgas/africa/ep-africa/427312/nigeria-san-leon-fanning/
"We cannot afford to ask the Netherlands for more gas and continue to refuse to extract our own gas," Minister Bernd Althusmann of Economic Affairs of the state of Lower Saxony announced on Tuesday."
That is pure simple common sense. What is not is issuing licences and then doing your best to prevent moving forward. Doesn't do much in terms of image and trust.
Hence Ryan will have to concede eventually whether he likes it or not.Strange that PR company we are supposed to have is not more vocal about it. What is the point of them then?
Thanks for that link brend. John Mullins is into renewable and even him acknowledges that the government is currently sitting on the Barryroe licence and doing absolutely nothing with it (2m45s). Ryan, wake up and start doing your job which you are paid for by the taxpayer.
After reading McGrath and Lombard comments, if Barryroe is not been given the go ahead for development this year then it never will. Someone will have to tell Ryan eventually what common sense and compromise means : develop your renewable projects but in the meantime use your own safe local ressources so that you can afford to pay for your big green plans. https://www.thecork.ie/2022/03/20/goverment-senator-says-ireland-must-have-honest-debate-on-energy-security-including-exploring-the-potential-of-our-own-natural-resources/
If the situation in Ukraine deteriorate dramatically Europe might have no choice but stopping all hydrocarbons imports from Russia whether they like it or not. Still a better option than a full blown up war in Europe and beyond. Ryan will have then to rethink his immediate green plans and stop thinking only of himself.
Thanks Calla. Still Oisin, especially as one of the Eroton Board of Directors, must know if and how much money has been generated? Also SLE can't be going for a larger stake completely blind? Would make no sense. Martin Hughes seems to be a patient man and goes along with Oisin plan and as been for many years so must be worth it. The share price will eventually give us the answer.
If that great deal goes through I am looking at 80p minimum, anything less I won't be happy. Otherwise what s the point of striking that deal (going from 10 to 40% of OML18) and being suspended for almost a year? And if it doesn't goes through, we re due $100 million plus to start with so large dividend at the least.
One thing I don't get and never heard anyone mentioning (by Oisin and others) is where is the money and how much we are due by Eroton (so total accumulated since 2016) for our 10% stake in OML 18 production. Must be £100 million + so not négligeable but complete silence about it. What I am getting at is what is the point of having a stake and now even bigger one if we are never paid for any oil produced anyway? 6 years is a long time and having never heard the company mentioning it is baffling.
https://twitter.com/ProvidenceReso/status/1490392621193302018?t=wERm3P8KeaxxmT1blWF4gA&s=19