focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Getting closer to Norway turning off the taps.
"The UK only imports 6% of its gas from Russia" starting to sound a bit hollow.
https://www.express.co.uk/news/science/1651780/norway-first-uk-energy-crisis-panic-battery-europe-cut-off-gas-supplies-russia-invasion
UK could get shortage of gas if it does not rain soon in Norway.
And if the UK is short of gas will that mean we will get less from Moffat? You can be sure it does.
https://www.express.co.uk/news/politics/1651532/uk-energy-crisis-Norway-power-supply-Britain-EU-update
Self-sufficiency is a wonderful thing.
Where do you reckon the children of the farmers live? Perhaps in the leafy suburbs of Dublin or the leafy suburbs of Cork, or how about Limerick or Galway? I might not live in the country but do you think I would ever vote for the Greens (not that I ever have!).
And how many of the Greens got elected on the first, second or third count in 2020 as compared to Sinn Fein where 25 were elected on the first count. If SF had run two candidates in those constituencies they would have won at least another 20 seats elected on the surplus of the winners and they would now be in power, albeit with one or other of Mutt and Jeff who currently run FF and FG and the Greens could take a hike.
The Greens will probably win as many seats as they did in 2011 when they won exactly none and Ryan got the boot - happy days.
Rockhopper are suing Italy under the ICISD rules for damages relating to its oil well off the coast of Italy.
Per haps no-all, ps200306 is unaware that a new set of ICISD rules were published in June of this year and became active as of 1st July 2022.
These new rules, in my opinion, make it far easier for PVR to sue the Irish government for the non-development of Barryroe and I am sure Menton, who is far clever than our "know all" is aware of these rules and will be invoking them sooner hopefully than later to put PVR's case and get Ryan back in his box.
In fact, Ryan is up in arms with the Irish farmers about the level of emission cuts and it is rumoured if he does not get his way that he might just pull The Green Party out of the coalition and the farmers have warned that they will be gunning for The Greens at the next election.
https://theliberal.ie/ryan-theres-no-point-having-a-big-row-with-farmers-over-the-emissions-targets/
What a poor deluded fool with his nice warm house in Dundrum. A good load of slurry in his front garden might help him to smell the roses better.
To ps200306,
Oh mighty narcissist, isn't it nice to know that you are here to guide us and that you are always right. And isn't it nice to know, O wise one, that Larry Goodman was totally deluded when he bought about 160m of these useless shares. He should have consulted you first.
Long may you enlighten us poor deluded fools who bought these for about 1p and now laugh all the way to the bank, at your expense, as they sit at 4p.
Menton's 90 days was a guesstimate on how long it would take for Rockhopper to be told how much compensation it was going to receive from Italy for the prohibition of not being allowed to develop the Ombrina Mare oil field.
Rockhopper have been informed they have won and that Italy has to pay compensation but the amount has not yet been decided and the arbitration board has 120 days to respond with the amount which gives them to the end of August unless they request a further extension of 60 days which is the limit.
So Menton, I am sure will make his move once the actual figure of compensation is disclosed and then we will see poor Ryan going wheelies on his bike.
Furthermore, Menton would not make a move, I am sure, until this pack of gobs****s return from their summer break and a potential High Court case in the autumn might brighten up our days.
I also note Ryan has now backed down on turf and he has backed down on the "national herd". How long before he backs down on Barryroe? And, by the way, there is so much dissention among the backbenchers that Varadkar might move him in December to perhaps "Agriculture". Now wouldn't that be interesting. You might find him in a slurry pit one day if that happened.
Menton will not sue before Wednesday, 23rd August 2022 unless the Rockhopper decision is made before that. The Rockhopper decision can be extended by a further 60 days but 23rd August is 120 days from the judgement was made and if 60 days extension is invoked, I am sure Rockhopper will be informed well before 23rd of August.
Rockhopper are suing the Italian government for $340m based on lost profits and revenue having spent $34m. On that basis, Providence could sue the Irish government for $2billion having spent $200m which they can legally reclaim out of profits if and when Barryroe is allowed to be developed.
Corrib proves this as they have not yet paid a cent to the Irish Government in tax as they are still recouping development costs spent in bringing the field into production.
So Menton can kill two birds with one stone by threatening the government on , no permission to develop Barryroe and lost profits from potential revenue.
I am sure Larry Goodman is well aware of this and is hanging in here for big profits.
The fact that you read and comment means they mean something to you. Otherwise you would not bother.
Makes me happy that you spend the time doing that. But if you had a real life, rather than sitting on your butt at a reasonable age, doing nothing, you might just find life has some real value.
But then, what would you know, thicko.
ps200306,
I love the way you read my posts so assiduously and then comment.
You remind me of the man who parachuted into a field and was approached by a passer by so he asked them "Where am I?", "In a field", came the reply. "you wouldn't be an accountant by any chance?", the parachutist asked. "How did you know that?" came back the answer. "Because you are answering the questions correctly but your answers have no basis in reality".
Great at identifying the issues but absolutely f/a use at any reasonable solutions. No wonder you retired early. Probably now living on our backs on social welfare. You would be f/a use in any business; a permanent pain in the rear end - more trouble than you're worth.
The license to drill was going to apply to a drill in 2023 so we still have time before then to get the approval.
Not only that, but the agreement of the EU to add gas and nuclear to the "EU" taxonomy rule book only becomes active on 1st of January 2023, so Providence could wait until then and then seek funding from the EU for the drill and development.
Note:
"The new rules will add gas and nuclear power plants to the EU "taxonomy" rulebook from 2023, enabling investors to label and market investments in them as green."
Deputy Carol Nolan, Laois Offaly TD, not happy with Fine Fail, Fine Gael and Ryan.
“It is now way past the point for Fianna Fail TD’s and Fine Gael TD’s to get off the fence; to stop their equivocating and their half-hearted ‘defences’ of turf cutting and turf use and actually demand that this Green minister, who commands no meaningful support for his nanny state agenda is stopped in his tracks."
https://www.leinsterexpress.ie/news/local-news/855922/laois-offaly-demand-on-fianna-fail-and-fine-gael-to-block-green-ban-on-online-turf-sales.html
Sinn Fein rumoured to call for a "no confidence" vote next week.
https://www.independent.ie/news/sinn-feins-mary-lou-mcdonald-tells-independent-tds-to-end-coalition-support-as-no-confidence-vote-looms-41821254.html
Ryan got roasted at a meeting in Kerry two days ago. Somebody presented him with a sod of turf and by implication told him to "s*d off".
https://www.irishtimes.com/politics/oireachtas/2022/07/06/dail-loses-majority-as-mchugh-votes-against-mica-legislation/
All it needs now is a vote of no confidence by the opposition and this government is for the birds along with brain dead Ryan.
Yes, Ryan certainly backed the wrong horse in this race.
https://www.irishtimes.com/business/energy-and-resources/inclusion-of-gas-and-nuclear-in-eu-taxonomy-not-necessary-eamon-ryan-1.4794040
it was a close call. The vote:
"278 MEPs voted in favour of the resolution, 328 against and 33 abstained. An absolute majority of 353 MEPs was needed for Parliament to veto the Commission’s proposal. If neither Parliament, nor Council object to the proposal by 11 July 2022, the Taxonomy Delegated Act will enter into force and apply as of 1 January 2023."
Since the passing of this allows for gas producers to apply for EU grants for development it will be interesting to see if Providence and its new name "Barryroe Offshore Energy" will apply for such grants.
If Ryan does not approve soon I expect Providence will issue legal procedures to get him off his high horse. And still we wait on the Rockhopper decision which, if they get anything over the £34m they have spent to date will probably result in Providence suing the Irish government for hundreds of millions of euro under the "Money message" in the constitution.
Good to see the mention of "legal action".
With the Rockhopper settlement amount mooted to be published in this month, July, and the embargo from Ryan there could be a big threat to the government of big sums to pay if they do not get their fingers out.
And the fact that the Independents were banging the Barryroe drum not long ago adds more fuel to the fire that hopefully is going to roast Ryan's rear end in the not too distant future.
Article in Irish Times might put the frighteners on Ryan.
https://www.irishtimes.com/business/economy/2022/07/01/threat-to-irish-gas-supplies-from-britain-a-cause-for-alarm/
Where did you get your information from?
Here is the current list of licenses submitted by DCAEE to the Dail in March 2022.
It clearly states that the only license Providence has is SEL.1/1 which is still clearly owned and active contrary to your statement .
https://www.gov.ie/pdf/?file=https://assets.gov.ie/221148/240e86c0-6c72-45d4-8e5c-d18521ab1e20.pdf#page=null
If Providence was not the "owner" of SEL.1/11 after June 2021 why did they allow them to do a site survey as per the following:
https://www.lse.co.uk/rns/PVR/government-consent-for-barryroe-site-survey-hih8740j1cbsaqs.html
Did Providence carry out the survey? Yes, completed in November 2021.
https://www.lse.co.uk/rns/PVR/operational-update-completion-of-site-survey-ndnehl4sfa32215.html
So it has complied with all requirements aka SEL. 1/11 even though you say it did not exist after July 2021.
So where does all your bulls**t come from?
ps200306.
When did Providence apply for a petroleum license? It's current request is under the standard exploration license until they have drilled the exploratory well at "K". If that is successful they will then apply for a petroleum license. Until then they are subject to standard exploration license SEL. 1/11.
20th December 2021:
"The receipt of a Barryroe Lease Undertaking would provide PVR and its partner Lansdowne Celtic Sea Ltd. ('Lansdowne', our 20% partner) with an exclusive right to apply for a Petroleum Lease (a) for a defined period and (b) in return for an agreed work programme. The Lease Undertaking is a natural follow-on from the Barryroe SEL 1/11 exploration licence. The grant of the Lease Undertaking would allow PVR, together with Lansdowne, to proceed with the execution of the Barryroe technical strategy. The work proposed during the period of the Lease Undertaking is designed to reduce uncertainties, to confirm the extent of hydrocarbons across the field segment targeted for initial development and thus, potentially, to lead to a declaration of commerciality and the award of a Petroleum Lease, subject to both
Ministerial consent and our anticipated phased development scheme."
"Perhaps you know something the rest of us do not know and Providence have secretly applied for a petroleum license but the last information I am aware of is the statement as of 20th December 2021 above which clearly states they are still subject to SEL.1/11 until they have drilled the appraisal well at "K" and then they might apply for a petroleum license.
Perhaps you have insider information which you might like to share with us.
"The receipt of a Barryroe Lease Undertaking would provide PVR and its
As usual ps200306 has nothing better to do than nit-pick. No wonder you retired in your forties. You had obviously taken on the role of an "old man" by then and are now probably heading for senility.
I mentioned the 1992 document which was further clarification to the original law which was set years prior to that. I will not point out what that document was but its rules stood and were just expanded by the 1992 document.
But one element in that original document, which was a law, stated "such lease shall be made subject to the payment to the Minister of such moneys, whether by way of fine or preliminary payment or by way of rent (including a royalty rent) or by any or all of such ways as the Minister, with the concurrence of the Minister for Finance, shall think proper and shall agree upon with the lessee;"
In other words, if the minister was being paid a fee for the license, it was a legal entity that the minister was not the custodian of the lease unless the lessee did something illegal. Providence has paid millions of euros over the years for the Barryroe license. Will Ryan pay all that back?
So, has Providence been paying a fee for the Barryroe license, is it still paying a fee for the license? If so, Ryan will end up with a big bill for all the payments Providence has paid over the years if he tries to crush the lease and he will not be able to get that through the Dail because of the "money message" which killed the Brid Smith Bill in 2019 when she tried to kill all oil and gas leases. The outcome was that all current licenses stand but no new ones would be issued.
It should also be noted what Varadkar said in 2019 and what he is saying now which is based on his "fear" of Ryan. Ryan is like the lion tamer in the circus ring, cracking his whip while all the lions ( or are they monkeys) keep hopping around from pillar to post.
https://www.thejournal.ie/oil-and-gas-licences-ireland-4821670-Sep2019/