Barryroe Offshore Energy Share Discussion Threads

[swizz] 30/6/2023 06:26

Not necessarily Herm, today will be in part procedural due to market rules, but clearly it’s not good and perhaps you could also read into it that there is some disconnect in the background with the plan to go forward, some are clearly playing the game hard,..GL S

[hermana3] 30/6/2023 06:08

So that's it!

[northatlanticholdings] 29/6/2023 22:18

I'm hopeful Goodbody's are taking their time - to frame an airtight case which they know they'll win before filing - I also hope it will be headline grabbing ie 1.5B. I'm pragmatic that it's one of a few options. However there is nothing to loose as the JR, takeover, merger are still on the table thereafter.

I figure, the losses are in play, but If strategy 1 had been to go after the losses, they wouldn't have bothered with the agreements, wiring 40m to escrow and the remainder.

So I conclude that the big guns are here to make a point.

The sound of silence means the legals will be bulletproof.

It is getting very close to showtime.

The great paradox here, and it is nearly to script in the Irish political system, is that Eamon Ryan could finally be the person to unlock the value of Barryroe for shareholders

Good luck to all - The Optimistic Pragmatist

[hermana3] 29/6/2023 21:58

And the continuing silence is deafening. Landsdowne called out Ryan early and has initiated legal action against him and his Department. We are operating behind events and have heavyweight investors who one would hope can organise things better. Comparisons to shambolic RTE executive heads come to mind...

[northatlanticholdings] 29/6/2023 16:12

I hadn't been factoring in the end of the month as a D-day at all.
- 3 weeks of working capital (was a guide)
- Shares to be suspended by 3rd July if they couldn't publish accounts
- Shares suspended early anyway - voluntarily (early)
- EGM in July if required to: appoint a liquidator for CVL
- Will pursue funding options up until date of EGM with Majors

So, while it would be good to sort the finance - and not go to CVL

If they need to appoint a liquidator
The purpose of a CVL
- Is to establish the reasons for failure
- a creditor list (if any major - BEY has no debt)
- if / how redress can be achieved on behalf of creditors / shareholders
- if the company can be re-financed or rescued
- if the company and its assets can be sold / transferred / merged with another entity

Its only after all of the above, that the shares are cancelled.

I'm missing the hard deadline here of today/tomorrow - a CVL extends that anyway until such time as the process is done and we are still in the game

It would be great to get that RNS saying that we will see Ryan in court - and that the line of CVL hasn't been crossed - but as the shares were suspended, the hard timelines in my view went out the window

The Majors need to be careful however, because they are walking a tightrope if they actually let the liquidation follow through. They have already proven that Ryan has threatened the survival/viability of the company as a going concern. However, if they let the company go into liquidation, they will be strengthening Ryan's hand that 'the company and project' was a financial risk. If they are seeking redress then their strongest case is this side of a CVL and not while in CVL.

If they let the company go to CVL then they are here for the carried losses - which will be merged into a Goodman entity. The challenge with that strategy is cutting a deal with the other Majors including Nick Furlong who has kept the lights on for years. He wont through in the towel here easy. Unless a deal has been cut with Goodman to share the losses.

A lot to play for - even in CVL

[peaeff] 29/6/2023 14:56

Steel I am in full agreement with you on that but in the very unlikely event that we are both to be proved wrong. This journey has been a total eye opener for me, not to trust wealthy CEO's and AIM listed shares. In fact I am of the opinion now that the stock market in general, at the present time, is no place for the private investor.

Should this be a last farewell I will say good luck and health to you for the future.

regards

[steelwatch] 29/6/2023 09:55

Peaeff - sadly, I suspect it's last rites time tomorrow. Maybe the major holders will pursue Ryan after the funeral, but I'm resigned to us little guys being flushed down the toilet of history.

[peaeff] 29/6/2023 09:43

When you read about the Norwegian plans for the future it's a very good job that RYAN is able to save the planet, irrespective of what it is costing the Irish nation both in revenue and the forecast threats of energy shortages, and the ever increasing cost of living to the average everyday electorate.

I am still finding it hard to believe that our BOD are still CONSIDERING their reply to RYAN's decision when we are teetering on the brink of bankruptcy as soon as tomorrow. If their decision is of a negative nature then it's 'game over' and the lights finally go out. Do Lansdowne continue their initiative irrespective?.

I don't know what the legal position is with regard to the Lansdowne statement or what chance there is of success for them, but you would have thought that BEY would have at least shown some support, together with any other companies, with protected licences, who are being strangled by GREEN POLICIES.

NAH (1801) Do you honestly believe that the information you seek, or the action you assume will be taken, will be forthcoming when so little information, to now, has been he order of the day. I'd like to be a believer but why leave us on the brink, as is the case.

regards all.

[jotoha2] 29/6/2023 09:19

And there is always the Norwegian experts to entice into this play , should be little resistance there.

[hermana3] 29/6/2023 06:22

Not one at 6pm one hopes...

[theshenagainagain] 29/6/2023 06:14

They might throw out an afternoon ray of sunshine just to catch you off guard. lol

[hermana3] 29/6/2023 06:02

Going right down to the wire here!!!!

[hermana3] 28/6/2023 19:54

North, Barryroe V Ryan and DECC will be a sell out for sure....

[mcbull] 28/6/2023 19:45

hxxps://oilprice.com/Latest-Energy-News/World-News/Norway-Approves-185-Billion-Investment-In-Oil-And-Gas-Projects.html

Norway approved on Wednesday the development of 19 offshore oil and gas projects worth more than $18.5 billion (200 billion Norwegian crowns) in investments, as Western Europe’s top oil and gas producer looks to sustain the high production from its continental shelf.

The 19 projects approved today include new developments, additional development of producing oil and gas fields, and investments to increase resource recovery in producing fields, the Norwegian Ministry of Petroleum and Energy said. The projects are being led by Aker BP, Equinor, Wintershall Dea, and OMV.
The new investments in oil and gas will create jobs and value for Norway and contribute to Europe’s energy security, Petroleum and Energy Minister Terje Aasland said.

The projects are also expected to build competence and provide a basis for further technological advances, which will be decisive for the ramping up of development of low-carbon industries such as carbon capture and storage (CCS), hydrogen, and offshore wind, Aasland added.

Norway has become the single biggest supplier of natural gas to Europe after Russia cut off most pipeline deliveries following the invasion of Ukraine.

Last month, Equinor reopened the Njord gas field in the Norwegian Sea, aiming to more than double the field’s production and raise Norwegian gas exports to Europe.

“With the war in Ukraine, the export of Norwegian oil and gas to Europe has never been more important than now.

[northatlanticholdings] 28/6/2023 18:39

Environ Mentalism
Fair play to Landsdowne

BEY now need to significantly up the stakes. 1.5B.

They certainly got their PR right, loudly, about going bankrupt.'it was very obviously 'look over here, we are about to go bankrupt any day now, with the shares suspended to block the shorts.'

Lets hope they were raising awareness in the press for the real case when it lands.

Three things I need now from BEY.

1. value of damages sought - so I can run my numbers
2. cost of action - financing /dilution
3. A court date - so I can travel to Dublin to see Ryan in the docks.

[hermana3] 28/6/2023 17:48

That snake Catherine Martin is washing her hands of RTE just like her boss is doing with our Lease Undertaking. Them greens dont give a flying fig for the national interest and are only interested in forcing their "pie in the sky" green agenda down the throats of the unfortunate people....

[hermana3] 28/6/2023 17:23

Friday is D-Day here and expecting "white smoke" early doors.

[wpc9] 28/6/2023 16:49

when is deadline date for ACTION

[swizz] 28/6/2023 12:10

TSA, BEY at this stage are probably on a different legal pathway and as operators and being an Irish company, they are possibly looking at grounds to progress a JR and whilst the JR would be a substantial win, if it was to succeed, it would be very unlikely that it would sway Ryan!I believe the direct litigation is the more substantive approach and enables a much wider landscape of legal arguments, the JR pathway is very narrow in it's scope, the Lansdowne approach is far more effective in my opinion and Barryroe, subject to their counsel, they may at some point decide that direct litigation is their preferred route,..GL S

[theshenagainagain] 28/6/2023 09:01

I had hoped that LOGP and BEY could have done something that looked like somewhat coordinated but unfortunately they seem to be steered by different quality.

[bill216] 28/6/2023 06:57

Juggler! Lol

[wpc9] 28/6/2023 06:49

would be really surprised if LG does not go for the juggler here . Landsdowne and BYE will notgo alone on this. As a side note interesting that RTE is under the remit of Catherine Martin . Another fine mess by Greens.

[hermana3] 28/6/2023 06:24

Curly wee will be spluttering over his gluten free porridge in his ecomansion....

[hermana3] 28/6/2023 06:22

Well done to them. Beefy wont be caught wanting either...

[steelwatch] 28/6/2023 06:19

Wee Lansdowne taking them on at least.