Member Info for ps200306

If the potato farmer in the anecdote is a crook, how is that the fault of the EU? The CAP and its predecessors were designed to support European food production. Manyana should know better as it sounds like he's old enough to remember that parts of Europe after WWII were on the brink of starvation, and even between the wars there were huge problems of malnutrition. Paying for food production may sound like folly until you remember what it's like to not have enough. The CAP represents about one third of one percent of EU GDP. Not a bad investment if it guarantees food security for 500 million people.

As for various other bullcarp in Manyana's rant, CAP payments are for actively farmed land which must meet various criteria of sustainability, crop diversity, animal welfare etc. NOT for land left idle. And what's the problem with large payments to large (and therefore rich) landowners? It's not charity. Also, given the extremely uneven distribution of land holding sizes, cherry picking the top 100 is of course going to present a skewed picture. All the details are published under EU transparency rules, so you can go and look at the data yourself. Taking Kerry as an example, if you lop off just the top few dozen payments (out of more than 8,000 total) the remainder will each be paid less than half what the top payees get. In fact the median payment is only a tenth of what those top payees get. Like the distribution of incomes in general, they follow a power-law, which should not really be surprising to anyone with a basic grasp of such things.

Apart from the ridiculous cherry picking in support of an anti-EU tirade, it should be pointed out that CAP reforms (which I agree are needed) after 2020 will involve co-payments by national governments. So again I say that there is no point blaming the EU for things that would be national policy in any case. Take it up with your politicians.

Sobeit, you may not have noticed but there is quite a love-in between the Irish establishment and Brussels. Our continued membership is nothing to do with being shackled by debt (although it's true that joins us at hip). I wouldn't call myself a huge fan of the EU, and would love to see sweeping reforms, but the current crop of swivel-eyed XXexiteer loons make me prefer membership to many of the alternatives.

The 3-month average volume is 3.5 million.

15 million traded. SOMEBODY'S excited. (Somebody who doesn't listen to the howls of despair on here ;-)

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"Weather warning: Solar minimum is here and ‘it is a bigger threat than CLIMATE CHANGE’"
https://www.express.co.uk/news/science/1135628/weather-forecast-long-range-climate-change-space-weather-solar-minimum-space-news .
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Why does this carp keep getting trotted out. The solar cycle has been known about for nearly two centuries. How come the only person they can quote on the "threat" of the solar minimum is "an environmental scientist for The Cornwall Alliance for the Stewardship of Creation – a Christian group which rejects man-made global warming claims". Spare us!

The original TE-11 was what? ... 15% chance of success? You would drill five of those in a row before your chance off success was better than 50-50. No thanks. Gimme 50p, I'll bite both your arms off for it. Heck, I'll take 30p. It's cost me a lot to average down to where I can exit at that level with a loss I can afford. Complete failure -- that I can no longer afford.

hh, I bow to your greater knowledge. Nevertheless, if you google Esvagt Don, the very first match calls it an offshore supply ship.

Doubt if there is any significance. The Icemax was more or less permanently accompanied by two support boats during the Dunquin North drill last year including the Esvagt Don. Admittedly it's a bigger supply boat compared to the Esvagt DC1, but it seems to be just the norm to have these extra vessels. IANAE by any means, however.

The green extremists would just prefer to shut everything down. Or, at least, they lack the vision for anything else. Polly Toynbee of The Guardian was on a BBC panel discussion this morning opining that we would have to put up with much lower living standards in order to avoid climate armageddon. These people are actually deranged. Scientists do not know the climate CO2 sensitivity to better than a factor of two. Preemptively sinking the economy by curtailing energy is stark raving nuts. We need a multi-decade transition to better efficiency and massive investment in nuclear and alternative energy, with fossil fuel use gradually reduced. Which is pretty much what we are doing.

Prediction is difficult ... especially about the future. -- Niels Bohr.

Joe, I think a bunch of people deluded themselves there was no risk here. It's a trivial calculation -- if you have a 1/3 chance of success on each well then there's an almost 1/3 chance of getting three failures in a row. I presume people understand that. But for some reason they're acting as if JP had godlike omniscience and led them up the garden path intentionally. Regardless of anything he said, anyone convinced they were on a one way trip to fabulous wealth needs to consider their own lack of discernment. Of course there was a chance of a 4-figure SP, there still is, though no longer for SOU. We rolled the dice and we lost. How difficult is that to understand? But even now there is a decent chance of getting something for the assets that are proved up. And yet there are people crying like babies who have not even made a loss (unlike some of us).

WHAT??!! Next you'll tell me they've dropped the tuiseal ginideach and the modh coinníollach from Irish ;-)

Sage advice Maldini1. I think I will take a break from the clanging chimes of doom also.

It's depressing watching former rampers like Partridge wringing his hands about management misdeeds after posting his own voodoo chart tripe for the first quarter of the year.

medi111, I can scrape together the money to average down -- whether I can afford it is another matter. If the doomsters on here are right I have only added to my very considerable paper losses. Calculated risk, like the risk I took first time round (possibly very badly calculated). As for crying about it, JP is not god. He can't force the Tagi to flow. Neither did he set out to make the last three drills fail. Even for a snake oil merchant that's not plausible. In any case, as Led Zeppelin sang, "cryin' won't help ya".

jacklevi, I take your point, but this board may not be the best therapy circle judging by some of the snarling beasts on here.

Before I ever laid eye on this board it had already been described to me elsewhere as "a bitchy knitting circle". I tend to think of it more kindly as a kind of collective Homer Simpson character, swinging daily between manic exuberance and deep depression. We are where we are. The options are what they have always been. Buy, hold, get out. There are people cursing Sound to high heaven on here who were ramping it just a few weeks ago. Seriously, what is the point? Do what you have to do. I have added a million shares in the last 24 hours. I will now either end up nursing very deep wounds or possibly escaping with my shirt. Either way there is no mileage in either gloating or being a misery guts on an anonymous message board. Here till the end, and forced to read the board for my penance.

Filtered

As I expected, share price is off to a flyer, down 10% to 9.5 within minutes of opening.

Time for another Fireside Chat to explain what's gone (even more) horribly wrong in the few days since the last one?

A pox on all their houses. I presume this means the SP will open below 10p this morning. Good thing I topped up 300k at 10.7 yesterday :-{

No worries, I have a lot more averaging down still to do. Have decided to throw some good money after bad, come what may.

There are two kinds of people on this board ... the ones that ought to filter SG47 for their own sanity and the ones that did it months ago.