Member Info for Manyana

Larry might be the figurehead but it is actually his sons who are the active members of Vevan Management. Those key members are: LAURENCE PETER GOODMAN and LAURENCE JOSEPH GOODMAN who are both sons of Larry.

And Veradkar is talking through his hat when he says " “My understanding is that to get the renewal, part of the process is that you have the financial backing to actually do it,” Perhaps he would like to point out where his contention is covered in the "Licensing Terms for Offshore Oil and Gas Exploration and Development 1992" which is the official and current law.

And again, I would like to point out that they are obviously convinced there is vast oil at location "K". Otherwise why are they putting blockers in the way. If Providence spends millions on developing a damp squib, why stop them.

I note Menton's reference to "legislation". Roll on Rockhopper and hope they are granted millions in lost revenue. You will see this Crazy Gang run for cover if that happens when Providence threatens to sue the government for millions. Menton is not an oil man. He is a heavyweight legal bruiser.

There is no doubt in my mind that Barryroe is commerical.

to think that since 2012, with all the latest technology in seismic that they do not know a lot more now than they did back then when they declared it commercial would be unthinkable.

What I believe is that the number of wells has been the issue. Barryroe was original defined as a "shallow" field (25m) covering a large amount of ground that would have needed 24 wells due to the possibility of non-contingency so the current assessment, in my opinion, is that they have assessed that the K area of the Barryroe field is the "sweet" spot which will mean it will supply huge amounts from a single well, hence the appraisal.

I also believe Ryan et al. are also aware of this and that is why he is delaying the well. Otherwise, why bother, if Providence were just going to come up with a dud. Why not just let them get on with it knowing it was a wild goose chase.

As for Martin's crazy notion the other day that Ireland was sufficient in gas and oil because we don't get it from Russia. Does he think, now that the UK are no longer in the EU, that they are going to play "goodie-goodie" when it comes to supplying us with gas and oil. If Putin can turn off the taps to Germany, Boris is quite capable of doing the same to us.

God bless Martin's innocence. They were always a bit thick down in Cork. Like the old joke "Why do Cork men have red necks?" Answer. "because their father's keep slapping them there saying, "Get up to Dublin, get up to Dublin".

I see the motion brought by the Independent TDs was not voted upon but the government's counter motion was passed by 64 votes to 50 and 1 abstention. Where were the other 45 Dail members who did not vote?

But Ossian Smith, second lackey to Ryan in the Department of the Environment, Climate and Communications i who presented the government's case only mouthed off what is written in the legislation so it had to win. He never identified any specifics only stating the obvious.

What an absolute farce and a total waste of time except that the Barryroe name got some free publicity.

Nothing changes and we still wait for the approval which has to be forthcoming sometime before next year for the actual permission to go ahead and drill the appraisal and from it the wells which will deliver oil and gas in 2026.

https://www.agriland.ie/farming-news/tds-vote-against-new-oil-and-gas-exploration-in-ireland/

It is clear that Ryan and the Greens are holding Fine Fail and Fine Gael hostage with their Green agenda. He has obviously said "back me or we go to the country" and like the cowards they are, that is what they are doing.

This whole debate has put Providence and Barryroe firmly on the map. Before today it was probably just another name to many people but now it is front stage and Ryan's denial of its existence shows he cannot look his "enemy" in the eye. But the cat is definitely out of the bag and his lies are coming home to haunt him.

You can see from today's debate that they are frightened to go against him as they know he has threatened to bring the government down if they do by withdrawing the Greens from government.

But if things get too bad and you can raise the issue of farm sustainability that not only will the Independents vote against the government but so will all the Fine Fail and Fine Gael country farmer TDs because they must now be scared of losing their seats because this fuel issue will bring them down if they do not support it.

So if we get to the winter and there is one outage or the cost of fuel continues to rise this government is for the birds.

What a pain. Just finished listening to that load of rubbish for two hours.

Great pity Ryan was not there or they would probably have had a real field day. He got enough stick as it was and his latest statement that people should contact social welfare if they could not afford both heat and food was met with derision. A bit like Marie Antoinette, "let them eat cake" which cost her her head.

The gist is that the amendment will be voted on this afternoon.

According to the government their representative said they are still actively considering the granting of the Providence Resources PLC (AIM:PVR, OTC:PVDRF) 2023 appraisal well for Barryroe project, offshore Ireland.

It is clear they are trying to find any chink in the Providence proposal that would allow them to cancel it under the current legislation and that is have they been dragging it out as long as possible over the last year but it is still scheduled for 2023.

If nothing else, this motion will put paid to Ryan finding any red herring that could stop it and I note there was no mention of Rockhopper by any speaker.

I suspect the motion will be passed or all hell will break out as no real alternatives were forthcoming for all the antra speakers.

Decision this afternoon so we should at least get some good mentions.

I see the members motion is down for debate at 10.am tomorrow and is scheduled for two hours.

https://www.oireachtas.ie/en/dail-schedule/

You can watch it live at https://www.oireachtas.ie/en/debates/ and click on Watch Dail Eireann live.

Given Menton's statement on getting the license within 90 days and his statement being so close to the Rockhopper decision it is, in my opinion, only waiting to see what exactly Rockhopper will be given in settlement that delays Providence suing for loss of earnings.

Because Italy is a EU country the same as ireland, the same principles should ensue. So whatever Rockhopper gets should equate pro rata to what Providence can claim.

The tribunal should give its judgement on or before the end of August so it will be interesting to see how much, if not all, of the $350m Rockhopper are suing for they are actually allocated. After all, they only spent about $40m so that is a 9x uplift. The balance they are claiming is for loss profits. On that basis, Providence with a spend of $200m could expect about $1.8billion.

So it will be interesting to see what happens

Based on their

Or is it up Ryan's rear end.

Russian oil and gas banned but Ryan et al say we don't use Russian oil or gas but Mícheál says we can use renewables and doesn't mention our own potential resources.

https://www.independent.ie/irish-news/taoiseach-warns-consumers-of-rocky-times-ahead-after-eu-decision-on-russian-fuel-ban-41705341.html

Have we entered "One Flew Over the Cuckoo's Nest" syndrome or is it just a bad dream?

Varadkar and Martin are in hock to Ryan. He has them over

They know if they go against him on any of his "fool ideas" that he will pull the Greens out of government and we will have to have an election that they will lose to Sinn Fein.

Even now, the coalition has only a majority of one with two Greens in limbo on a technicality, but who will vote with the Greens if needed.

So what we need is a controversial bill that the Greens cannot support and that will bring the whole house of cards crashing down.

Varadkar and Martin are swanning it in Davos this week.

Martin gave a presentation where he said Ireland would be the wind capital of Europe by mid 2030s. He did not say what Ireland would do in the interim.

How does he know the wind will still be blowing in the mid 2030s and since he, Varadkar and Ryan will be gone by 2026
why are they pontificating about things they cannot control?

https://www.thejournal.ie/taoiseach-davos-world-economic-forum-2-5774012-May2022/

Critique of Ryan's speech by ex Tánaiste and minister, Michael McDowell

https://www.irishtimes.com/opinion/no-time-for-wand-waving-or-wishful-thinking-on-our-energy-supply-1.4887125

Correct, ThenShen.

The Arbitration date in favour of Rockhopper was 25 April 2022 and Menton made his announcement on APRIL 24, 2022 which meant he knew it before it became public knowledge.

It can take up to 120 days with a possible extension for the award of the compensation to be announced so his 90 days is not unreasonable as I don't see them needing the full period to make their decision.

In fact, either the Irish Government have their heads in the sand (most likely) and are living in hope but I would hope Rockhopper get a big sum which will scare the socks of our lot and they will be jumping all over Providence to do a deal least of all will be permission for the license but with bigger payments potentially on the cards if Rockhopper also gets compensated for loss of profits.

After all, the Brid Smith bill scared them with its "money message" hanging over them but the right to Arbitration on lost revenue and profits will scare them even more as it can run into millions of euros (or dollars, if you wish).

The issue with Rockhopper and Italy is that Rockhopper have won and are entitled to compensation but the question now is how much compensation will they get. That is what we will know by July.

The current situation is that Rockhopper are claiming $350m even though they only spend about $45m so they are looking for about an 8x uplift from the costs based in the main, on lost profits.

Based on those percentages, Providence has spent about $200m costs which can be recouped from taxes due for payment on Barryroe so if Rockhopper are successful and get the full whack, Providence can make a claim for about $1.6billion for all the profits it has lost .

So we will know in July how the land lies and because the Rockhopper case was held by the ISDS and "Based on the ISDS data, it is clear that investors in the European Union are by far the most active users of ISDS".

Where are ISDS tribunals located?

"ISDS tribunals are mostly established within the World Bank International Centre for Settlement of Investment Disputes? (ICSID), the Permanent Court of Arbitration? (PCA), the International Chamber of Commerce? (ICC) and the Stockholm Chamber of Commerce? (SCC)."

And, on the basis of precedent, Providence will have a good chance of winning. I note:

"In Rockhopper v. Italy the claim for damages could run to between US$200–300 million. The company is aiming to recoup both existing expenditure on the project and anticipated profits, an approach for which there are several favourable precedents to be found in previous awards under ISDS provisions."

All we need to know is how much Rockhopper wins given that most of its claims is lost profits over its investment whereas Providence has already sustained large costs. And if Providence wins this, how many other license holders, who have been paying the government for years for their licenses can claim in compensation.

July could be a very interesting month for us and a real poke in the eye for Ryan and associates as you can be sure this government will run for cover like the scared rabbits they are but with EU law up their noses they will have nowhere to run.

What this shows is just how frightened they are of Ryan.

They know if Ryan pulls the plug they will be for the bin. It is a bit like European countries helping Ukraine. Materials is ok but don't ask them to assist because Putin has scared them with the "nuclear option".

I think Ryan has become the Dáil Éireann, jobs for the boys gang, nuclear option Pull my wire and I will pull the Greens and you can all go to hell in a basket.

But it shows what side the "Independent's" aka Collins et al. are on and it is only a matter time before this house of cards comes tumbling down.

There are currently 21 Independents in the Dail and I expect they will have more by the next General Election.

SF should win the next election as I expect them to have about 60 seats by running two candidates in each of the 39 constituencies. Last they ran only one in each constituency but would have won far more seats by running at least two and would have been able to form a government with the 21 Independents especially if the Independents form a large formal group - even a separate party - and they would have had a healthy majority.

Next time, if they exceed that number, which they will easily do, given the current government's total ignoring of country issues the Independents, as a formal group along with SF will get an overall majority.

The Independent group actually sought to join the government at the last election but were only few and not organised so unfortunately FF and FG opted for the Greens. They are far more organised now and will be far more organised before the next election at the latest so it will be goodbye to the Greens.

Unfortunately we have to wait until 2026 for the next official election but perhaps FF and FG will realise they are being led by the nose and the b***s by the Greens and realise, if they want a future, they will have to dump them long before the election or they will be for the birds. A good time to dump the Greens could be the switch of governments in December of this year when FG take over the lead from FF and could co-opt the Independents instead.

Wishful thinking, but we live in hope.

https://www.thejournal.ie/rural-independent-tds-government-formation-5005658-Feb2020/

https://www.irishtimes.com/news/politics/coalition-happy-we-have-majority-after-green-tds-lose-whip-minister-says-1.4882893

Two Green members disagreed with Ryan and are suspended giving 80 to 79 after voting against the government on the Maternity Hospital Issue.

All we need now is a decent debate to push this over the edge and get rid of Ryan. A few more upset "peat burners" could push this over the edge.

Been in these since they were Atlantic when daddy O'Reilly was the "golden boy" of Irish rugby, marketing and business.
Went through the consolidation 6billion to 60m shares.
Remember Singleton sold for $66 million, sold Mexican gas for $22m and O'Reilly deal "Providence Resources has raised $100m with a placing of 13.1 million shares". From that you can work out the price of shares in 2012 which was about $7.67a share. So anybody in before 2012 made a killing.

Then good old O'Reilly squandered the lot on wild ventures but it can all be reclaimed if Barryroe becomes a gusher or if it takes the government to court for loss of profits and revenue.

So made a killing between 2012 and 2015. Bought two houses.
Post 2015 started buying small amounts on price after famous Sequa farago and the shares tanked.
When they went sub 2p started buying much larger numbers.

These shares owe me nothing as I rode the Barryroe tiger from "boy" to "man" and am still here waiting for the next phase - whenever!!

And while I have been on here and on iii as Sobeit for even longer where I won the famous Blinkx competition by picking Providence, Lansdowne, Taylor Wimpey and Barratt Developments. First two, performed ok until they became "dogs", bt the last two property companies flew which made me a lot of money and I still have them along with many other shares.

So I still say, Larry Goodman (and son), Pageant and Furlong are not fools. Why are they still here with big holdings if this is a "dead dog"?

These shares owe me nothing and I still believe they will have their day. Even if you exported all the oil and gas, it is still worth a fortune. Not even Ireland can look a gift horse in the mouth forever and there is nothing legally stopping Providence developing Barryroe other than a gobs***te is impeding it.

But as Milton said, "They also serve who only stand and wait". Patience is a virtue.

Did I say 1p? Please note I said "around 1p".

What price were they on 15th March 2020 and at other times since 2015 what were their lowest price?

Check your facts before you open your mouth.

I am still sitting pretty because most of mine were bought when these were around 1p.

I will sell mine when Larry Goodman - Vevan, Pageant and Furlong sell theirs.

Current Holdings:

Pageant Holdings Limited 10.42%
M&G Investment Management Limited 9.94%
Kite Lake Capital Management (UK) LLP 9.75%
Merseyside Pension Fund 8.46%
Vevan Unlimited Company 4.66%
R. O'Riordan and S O'Driscoll 4.12%
Nick Furlong 3.22%

That lot account for over 50% of the equity.

For once we are sorry he is gone - just like the crypto currency.

As they say, "flash and burn"

https://www.dailymail.co.uk/news/article-10808609/Ethereum-joins-crypto-plunge-Second-largest-digital-currency-loses-20-value-24-hours.html