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I wonder if the bulk of those votes came from BGF. They've been a substantial holder here for awhile having taken part in the 3p & 6p placings. Can't be too impressed with their investment so far.
Copied from the PRD forum, posted by the wackmeister.
Straight out of the blocks after the announcement in the past few days by the Irish government the need for more gas fired power stations and lo and behold planning submitted already.
https://www.rte.ie/news/business/2021/1202/1264524-permission-sought-for-new-gas-power-station-in-dublin/
PRD also moved up quite a bit in last couple of days with regard to Irish news.
Simon 0.112
Oddie CEO GBP5,000 500,000 % 384,615 884,615
---------------- --------------- ----------- -------------- ------------ ----------------
Brian 0.056
O'Cathain Chairman GBP5,000 250,000 % 384,615 634,615
---------------- --------------- ----------- -------------- ------------ ----------------
William Non- Executive
Ahlefeldt-Laurvig Director GBP15,000 33,752,442 7.59 % 1,153,846 34,906,288
---------------- --------------- ----------- -------------- ------------ --------------
Feb 21..Around 25k between the 3
Director Dealing
In connection with the Placing, Simon Oddie, William Ahlefeldt-Laurvig and Brian O'Cathain, being Directors of the Company, will subscribe for new Ordinary Shares as follows:
General conception on here is that they've probably missed the boat with the rising oil price as its gone very quiet lately on that subject.
Not a follower of twitter but this was posted yesterday so perhaps news not too far away.
https://twitter.com/davethedrill1/status/1466052565020327939
Also Morocco presentation now available.
Https://www.europaoil.com/wp-content/uploads/2021/12/Inezgane-Morocco-Prospex-2021-Nov-25th-EOG-Website.pdf
This was an article from last in the Telegraph last week with the same narrative.
https://www.telegraph.co.uk/business/2021/11/25/joe-biden-scapegoating-oil-companies-inflation-caused-american/
Posted by Swizz on the PVR board this morning.
FURTHER NORTH SEA EXPLORATION VITAL: OGA
Exploration and production of oil and gas in the UK North Sea must continue if the country continues to meet its energy needs and ensure a successful transition to net zero, the chairman of upstream regulator Oil and Gas Authority (OGA), Tim Eggar, said on November 24.
Oil and gas today accounts for UK energy consumption, and the independent Climate Change Committee forecasts that they will continue to be needed for the country's heat, power and transport needs for the foreseeable future.
"If we need to be reminded of their importance to daily life, we only have to look back a matter of weeks, when we saw long queues at petrol stations and a gas crisis which brought the prospect of higher gas bills for millions of consumers," Eggar said at a conference in London.
Good find porkpies..
https://www.breakingnews.ie/ireland/ireland-set-to-build-new-gas-fired-power-plants-to-bridge-gap-towards-renewables-1221187.html
PVR strategic review I believe should be done by year end from memory.
Also had a few Irish big hitters invest so someone obviously sees a future for Irish assets.
Again from the PVR board.
https://www.spectator.co.uk/article/are-low-wind-speeds-to-blame-for-britain-s-energy-crisis-
Tacuma, this also posted by Swizz on the PVR board. Gas demand alone to increase 23% between now and 2029.
Sentiment must surely change sooner or later.
Future demand
During 2020, gas supply was constant and delivered without interruption to service. This is testament to the resilience of the network and its proven capability to deliver on gas demand in all conditions. According to Gas Networks Ireland projections, reflected in Figure 5, gas demand in Ireland is expected to grow by 23% between now and 2029,
The main drivers for growth are within the power generation sector, and include:
• significant projected growth in electricity demand and the need for additional gas-fired power generation to meet this demand
• expected growth in electricity demand of 33 per cent by 2029
• projected growth in industrial and commercial sector gas demand, in line with growth in new connections
• the phasing out of coal and peat.
Gas demand came close to record levels over a number of days at the beginning of January 2021. Notably, on the ‘peak day’ for Republic of Ireland (ROI) gas demand (January 8th) electricity interconnectors operated as net exporters of electricity to Great Britain (GB). This, combined with high electricity demand and moderate wind generation in ROI, drove high demand for gas-fired power generation. Closing at 6.1 TWh, gas demand for January (2021) was the highest monthly gas demand level in over a decade and the third highest ever. The only time gas demand was higher in Ireland was in 2010, when the country experienced some of the coldest weather on record.
As electricity demand continues to grow, and as Ireland moves to achieve the target of 80% renewable electricity by 2030, the role of the gas network has never been more critical.
https://www.gasnetworks.ie/corporate/company/our-network/irish-gas-market-overview/Irelands-Gas-Network_Delivering-for-Ireland_FINAL-file-as-published-11-11-2021.pdf
https://youtu.be/m9zdzYygrzY
Wressle info from around 11.40mins.
Taken from the PVR board..
https://www.independent.ie/opinion/we-must-focus-energy-on-here-and-now-before-drawing-up-dream-climate-plans-41049064.html
I'm not so sure, but it certainly won't be imminent. Market cap now looks silly with just Wressle alone.
Found this on one of the other forums.
"Out of an Electorate of 3.5 million, at the last election the greens polled 155000 votes, an opinion poll recently asked if Ireland should develop its oil and gas resources, over 70% said yes it should. I feel the greens are an example of the tail wagging the dog, perhaps a few power outages might be just what's needed for the good people of Ireland to have that tail docked."
Interesting post from Manyana on the PVR board....
Not Yet.
Remember Providence has spent over $200m on exploration already which can be reclaimed from Barryroe profits, so if it is prevented from being developed they can sue for it.
And remember back on the bad old days of "harridan" Smith who has been overtaken by gobsh*te Ryan this issue came up and the government stopped her bill in 2019 because of the "money message" where the government agreed that if the bill was stopped there would be a "cost implication" to the state to recompense oil and gas companies.
What is a "money message"? definition:
"A money message is essentially a State recommendation signed by the Taoiseach approving of legislation that will cost the State money as per Article 17.2 of the Constitution. The Article states no law that requires the spending of public money shall be passed without Government approval first."
The "money message" has not gone away irrespective of what Ryan says, so if they prevent Providence from developing Barryroe, Providence will sue and win huge sums in compensation.
So the Barryroe Review to be published by the end of the year will include costings. They can claim all of those, as well as the $200m already spent, if the Government prevents the development of Barryroe.
Interesting fact: "Russian Gas imported to Ireland creates 34% to 38% more greenhouse gas emissions than using Irish gas, while Liquified Natural Gas (LNG) imported from Qatar creates 22% to 30% more."
So Ireland is currently living off Russian and Qatar "dirt" and when Corrib ends in a few years time it all gas used in Ireland will be polluted as it will be all imported. 2029 is not that far away and Corrib is already starting to diminish according to the latest report.
And Ryan thinks that's a good deal - No wonder he is for the birds.
Europa certainly knows how to test shareholders resolve that's for sure.
The Government approval on Edge will probably be signed off in candlelight at this rate.
Never underestimate the stupid ness of politicians.
https://extra.ie/2021/09/30/news/irish-news/ireland-power-blackouts