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Given the punt I've taken here, if it doesn't come good the only king I'll be seeing for a while will be burger king

Interesting that the market at this stage does not seem to have any knowledge good or bad. The trade volumes and price movements are fairly stable. I'm sure some people definitely know where things are at but they're doing a good job keeping a lid on it.

The various comments on the video are also well worth a read

A total farce, from start to finish

8p is a great entry point given the level of de-risking already. Many small O&G companies have traded at multiples of the PRD valuation with nothing proven.

It's unbelievable that a local authority pension fund holds 8% of this company. No pension fund with even a modicum of oversight would be allowed to go anywhere near a wildly speculative penny stock like BEY.

Hard to believe that this outfit have survived in one form or another for almost 40 years, yet have never delivered a teaspoon of oil in all that time. The current situation is really just the final nail in the coffin of a spectacularly unsuccessful company.

They tried for over a decade to get interest from any of the majors like BP but ended up with nothing. As for SF, they have clearly indicated that fossil fuel is not part of their plans for future energy needs. The RNS would also seem to indicate that BEY no longer even have rights over the acreage.

The last line in the RNS seem to indicate that BEY is now effectively a shell company - so how can its shares be valued?

"the SEL1/11 licensees have no rights over the acreage held under SEL1/11 as SEL1/11 expired on 13 July 2021"

It's game over here as expected, probably some money for the legal eagles but total wipe out for the retail shareholders.

As a sadder but wiser fool who has long since written off my "investment" in this farce I have to take my hat off to any punters who keep on believing. I can't see any possible outcome for retail punters here other than massive dilution or total wipeout.

"an investment for the foolhardy only" according to Oilman Jim.

The only thing this company has ever pumped (and will ever pump) are the fool shareholders!

No doubt Goodman (and Furlong and Kite Lake if they get in on the deal) are banking on the fact that small shareholders won't be organized enough to thwart it. Most small holders have their shares in nominee accounts so they probably won't even get to vote.

Interesting article that certainly gives a sober view of the outcome if the Goodman deal gets approved - "increase Goodman's stake by over 50% at a cost of 107K...whole company would be valued at 1M, 30 times less than the current market value" - They wonder how the house broker (Davy) can justify allowing this.

I can understand why some retail investors want to keep believing, especially if they have invested a lot of money and time in the providence dream. However, I think you're right that the retail shareholders will get wiped soon (one way or the other). I hold some shares from the early days but they are effectively worthless now. In hindsight I should have dumped them once it became obvious that no major oiler was buying the story but it's easier just to hold on for the next plan to emerge. Then again it's a well known fact that retail investors tend to hold onto losers and sell winners rather than the other way around.

It's got nothing to do with the wind blowing on some days and not others - it's the overall net contribution of wind energy to the grid. In October and November wind energy provided just under 50% of Irelands electricity supply. Over the entire year it provided 33% i.e. wind energy provides one third of Irelands electricity supply. These are simply FACTS.

While wind power may be unpredictable on a daily basis it still provided an impressive 47% of Irelands electricity in November so it's a major contributor in reducing overall fossil fuel consumption.

Oilman Jim's blog:
https://oilman.substack.com/p/sunday-blog-4-december-2022

"The terms of the investment potentially create a massive, virtually endless, death spiral in which the existing shareholders end up with essentially nothing"

Totally agree - Goodman's involvement with Barryroe will benefit only one person, himself. The company has been spectacularly unsuccessful at attracting investment and Goodman has them over a barrel . The lack of any investor interest after the news of his funding scheme speaks volumes.