Member Info for Jarv55

As at close of business on August 12, 2019, no funds had been received in the Company’s account but the Company has received further assurances that the US$ 9 million loan advances due under the Updated FOA are in the process of being paid. Accordingly, the Barryroe Partners have agreed to a backstop extension of on or before August 19, 2019

Interesting that it looks like Apec may have taken their $1million costs out.

Someone took advantage of the shake https://invst.ly/bq8qb

Oiler just remember it can land at any time of the day, worst case scenario Chinese don't pay, logp raises and then sells the asset as drill ready. I think the Chinese have put in a lot of work here weeks and weeks of planning lets see what happens. In the meantime go and troll another bb pretty obvious why you are here.

Extension of Backstop Date

As at close of business on August 12, 2019, no funds had been received in EXOLA's account but EXOLA has received further assurances that the US$10 million loan advances due under the Updated FOA are in the process of being paid. Accordingly, the Barryroe Partners have agreed to a backstop extension of on or before August 19, 2019.



Update on Site Survey

On August 9, 2019, the Barryroe Partners confirmed that they have received permission from the Minister of State at the Department of Communications, Climate Action and Environment to undertake a seabed debris clearance, environmental baseline and habitat assessment site survey (the "site survey") over the area of the Barryroe field within SEL 1/11. The nominated vessel is currently finishing up current activities in the North Sea prior to the planned mobilization to Barryroe. Pursuant to the terms of the Updated Farm-out Agreement with APEC (as amended), and subject to the receipt of funding from APEC or alternative financing arrangements being put in place, the site survey is expected to commence later this month.

nice shake mms

this is interesting the subs they are creating
Finally, as part of the review of its business, the Board is streamlining its corporate structure to three wholly owned subsidiaries:

EXOLA Designated Activity Company (�DAC�) is the subsidiary which holds a 40% interest in SEL 1/11 (Barryroe);
Providence Porcupine DAC is a new subsidiary that will hold our exploration interests in the Porcupine Basin, namely 28% of FEL 2/14 (Diablo), 40% of FEL 2/19 (Avalon), 80% of FEL 6/14 (Newgrange) and 26.846% of FEL 3/04 (Dunquin South);
Other Irish licence interests will continue to be held directly by the parent company, Providence Resources P.l.c.
Providence Renewables DAC is a new subsidiary that will be used by the Company for any future potential activities in the renewable energy arena, which may include offshore geothermal and Carbon Capture and Storage activities.

worth a listen https://www.youtube.com/watch?v=oxiNuEo1aUk

https://www.youtube.com/watch?v=oxiNuEo1aUk worth a listen

Couple of nice buys

As at August 2, 2019, the Company had unaudited cash in bank of approximately US$ 1.45 million. As outlined above, the Company has received further assurances that the US$10 million loan advances due under the Updated FOA are in the process of being paid. However, the Board advises that, should these funds not be received by the revised backstop date and taking into account creditors on the balance sheet and existing forward commitments, including the necessary planned site survey at Barryroe and the proposed business re-engineering, the Company would need to put in place alternative financing arrangements in order to provide it with sufficient working capital beyond the end of August 2019.

they are saying it is in the banking system

As at close of business on August 2, 2019, no funds had been received in the Company�s account as the payment date is still pending due to final processing by HSBC. Accordingly, to facilitate this, the Barryroe Partners have agreed to a further backstop extension of on or before August 12, 2019.

If the funders keep delaying can pvr pull out of the jv?

Extension of Backstop Date

As at close of business on August 2, 2019, no funds had been received in the Company's account as the payment date is still pending due to final processing by HSBC. Accordingly, to facilitate this, the Barryroe Partners have agreed to a further backstop extension of on or before August 12, 2019.

Extension of Backstop Date

As at close of business on August 2, 2019, no funds had been received in the Company's account as the payment date is still pending due to final processing by HSBC. Accordingly, to facilitate this, the Barryroe Partners have agreed to a further backstop extension of on or before August 12, 2019.

well the bod must be in touch with the Chinese they must know if its on its way or not.

highlander what are you on about there has been no insider trading at all Logp are not a leaky ship

get the traders out of the way first

Phoebus great post thanks

Well tomorrow is going to be interesting