Lansdowne Oil & Gas Share Discussion Threads

[bones698] 19/9/2023 09:33

Sounds like game over and tbh any judge will look at the total lack of progress by logo to get a partner or develop the site along with its lack of funds as a good enough reason for the government to remove the license imo . This might well be the end finally for logp and paying it's bod for delivering nothing

[largeronald] 18/9/2023 10:07

The 3 months run out tomorrow. Looks like litigation...

[carlos350323581] 11/9/2023 02:00

"Promising potential for growth in LOGP stock."

[scottmitchellnctuzs] 11/9/2023 01:38

"Promising potential for growth in LOGP stock."

[mikemadison] 11/9/2023 01:28

"Promising potential for growth in LOGP stock."

[kunjanmcmillen] 11/9/2023 00:43

"Promising potential for growth in LOGP stock."

[gorden2345] 09/9/2023 23:18

"Promising potential for growth in LOGP stock."

[mattlandry] 09/9/2023 20:51

"Promising potential for growth in LOGP stock."

[ianio5691] 06/9/2023 11:30

A few decent sized buys over the past few days...
Someone loading up or shorts closing?

[bsg] 04/9/2023 09:06

Shame we've been diluted to oblivion.

[cephalosaurus] 01/9/2023 08:59

It's cynical politics to discourage major oilco's, then to rescind an existing licence on the pretext that you don't have the investment funds - which would otherwise be in place via farm ins in a more encouraging environment.

There is no climate emergency, it is a myth, as concluded by more than 1600 scientists something. The media and politicians are banging the drum to ingrain in people for commercial gain, and to create hysteria about impending doom.

See Global Climate Intelligence Group - "Climate science should be less political, while climate policies should be more scientific"

"Misguided climate science has metastasized into massive shock-journalistic pseudoscience. In turn, the pseudoscience has become a scapegoat for a variety of other unrelated ills.."

[cephalosaurus] 01/9/2023 08:43

Thanks to poster on EOG

"Yet since 2018 major energy companies, such as ENI, Total, Equinor and Woodside, have all exited Ireland. This is because Ireland is perceived to be an inhospitable jurisdiction by the upstream sector, a situation that was highlighted at the recent Energy Summit hosted by the Taoiseach. The fact is Ireland has the necessary legislation to explore and develop existing licences, such as FEL 4/19, but this is not recognised by the upstream industry as a whole. Perception is reality and in order to change the current perception of Ireland, the Government needs to vocally emphasise its commitment to the status quo, i.e., that the existing licences remain valid, any major upstream energy company that invested in Ireland would be welcomed, and that these exploration licences could be progressed through their natural phases of development and production. By doing so, the Government could secure a reliable and plentiful supply of domestic gas out to 2035 and beyond. Not only would this provide Ireland with security of gas supply but importantly the produced gas would be the lowest emissions gas that Ireland can obtain, which would reduce emissions and help Ireland achieve its net zero 2050 goals.

William Holland CEO of Europa Oil & Gas (Holdings) plc"

[bsg] 20/7/2023 07:05

Kicking the can down the road.

[bones698] 20/7/2023 06:53

0.1p this is hanging on for from death and has been for nearly a decade. At least ghebdorecotes keep managing to get paid

[swizz] 19/7/2023 16:41

BHC moved their holding,..GL S

[cephalosaurus] 18/7/2023 14:58

Large trade off books at nominal price - transfer, warrants?

[jotoha2] 12/7/2023 10:37

Looks like it's ready to rock n roll .

[swizz] 05/7/2023 05:21

The Irish Times..

Letters

The Barryroe oil and gas field

A vital national energy source

Sir, – The distinct likelihood that Barryroe Offshore Energy, the owners of the Barryroe oil and gas field, will be forced into liquidation in a few weeks is a national catastrophe.

The reason for closing is because the Minister for the Environment, Eamon Ryan, has refused to grant a licence for further evaluation test drilling.

The Barryroe field, just off the coast of Cork, has been independently proven to have more than 300 million barrels of oil as well as copious quantities of high-grade natural gas which, if developed, would afford us backup energy security in conjunction with renewables well into the future.

The company has, over the years, failed to attract investors due mainly to the incoherent and irresponsible attitude of Irish governments, particularly in 2019 when they foolishly stopped issuing oil and gas exploration licences off our coast, and, still today, opposing an LNG facility at Shannon.

These decisions were driven by incomprehensible Green Party ideology, despite the fact that 100 per cent of our oil and over 80 per cent of gas is imported.

Our only native source at Corrib off the Mayo coast is fast dwindling, leaving our future energy security on a knife edge and at the mercy of volatile international markets.

Prolonged and becalmed weather last year and currently has exposed the Coalition’s naive policy of relying on offshore and onshore intermittent wind energy.

It is now generally accepted that over the next two decades, we will have to rely on oil, natural gas and coal as permanent backup to unreliable renewables.

It beggars belief therefore that Coalition strategy favours long-term imports of low-quality fuels from the UK over a proven “sweet” native source at Barryroe.

As we are now again awash with money, we could, and should, even at this late stage, follow Norway’s successful strategy and take equity in the Barryroe field, and in the national interest, support rather than hinder its development to full production in 2026.

This pragmatic strategy, while anathema to the Greens, would provide us with vital national energy security and avoid our exposure to international markets.

It would boost the economy, allow us to cease high-cost imports and, importantly, give us full control over supply and price for decades to come. – Yours, etc

JOHN LEAHY, Cork.

[swizz] 02/7/2023 15:02

Brian Carey - The Sunday TimesLitigation funds line up to take on state over BarryroeLansdowne Oil & Gas approached by litigation funding firms over denial of right to work the Cork prospectLansdowne Oil & Gas says it will tap specialist litigation funders to finance its case against the Irish government over the decision to withdraw a licence to explore the Barryroe prospect off the Cork coast.The exploration minnow owns 20 per cent of the prospect alongside Barryroe Offshore Energy (BOE), which controls the remaining 80 per cent stake.A UK-domiciled company, Lansdowne is pursuing a claim through international arbitration pursuant to the investment protection regime of the Energy Charter treaty (ECT), to which both Ireland and the United Kingdom are signatories.In its annual report, released last week, Lansdowne said that it had been approached by litigation funding firms and initial discussions were already under way, "with positive feedback thus far".Lansdowne's legal advisers, Ashurst, initiated arbitration proceedings under the ECT by submitting a letter to the government, which requires it to participate in discussions with a view to settling the dispute. The government has three months to respond to a settlement offer.The company said that it intended "to wait to see" the government's response before looking to formalise litigation funding.Eamon Ryan, the climate change minister, last month withdrew the licence citing concerns over the "financial capability" of the partners.As an Irish-registered company, BOE does not have a right to pursue international arbitration under the ECT.It is believed to be in talks with its largest shareholder, Vevan, an entity controlled by the businessman Larry Goodman, about mounting a possible judicial review. Vevan underwrote a loan note issuance of $40 million (€36.6 million) to prove the financial strength of the exploration partners.BOE, as operating partner in the joint venture, had already commenced planning for drilling in 2024, in the expectation that it would be granted a lease undertaking to continue work on the prospect. The company had gone out to the market inquiring about rig availability in early May 2023.Lansdowne has said it values its interest in Barryroe at up to $104 million. It said there was "clear evidence" of the Department of Environment, Climate and Communications and the minister "failing to act in a fair and equitable manner with the Barryroe Partners consistent with its obligations under Irish law and also international law".

[swizz] 02/7/2023 14:48

Daniel Murray: It was only a matter of time before Ireland was sued over energy treatyLansdowne Oil and Gas plc is to launch €100m proceedings against the state after Eamon Ryan refused to grant a further exploration licence for the Barryroe field.The Irish government can't say it wasn't warned.Notice of the first case by a fossil fuel company seeking damages under the Energy Charter Treaty last week was considered inevitable by some.The treaty allows corporations to sue governments for policy decisions around energy – including climate-related decarbonisation plans – that might impact on their profits and their future profits. The treaty has become increasingly controversial in recent years, with multiple EU countries saying they are going to withdraw from it."It was only a matter of time before Ireland was sued," said Lynn Boylan, the Sinn Féin senator.Now Lansdowne Oil and Gas plc, a minority partner in the Barryroe oil and gas field off the coast of Cork, are using the treaty to seek up to €100 million in damages from the Irish state on the basis that Eamon Ryan, Minister for the Environment, refused to grant Barryroe a further exploration licence, resulting in a loss of potential future earnings by the company.It would be fair to surmise that the parties to the Barryroe field might have their suspicions about Ryan's real motives for rejecting the licence, given that he is the leader of the Green Party.But the Department of the Environment explicitly told the Business Post that refusal of the licence had nothing to do with climate action and that the "phasing out of fossil fuels or our security of energy supply did not form part of the assessment process".Instead, the department said the Barryroe project did not meet the criteria to grant a licence, including the "technical competence of the applicant and the financial resources available to it".It is these issues that the case will likely hang on, if it goes ahead.There is no doubt that Barryroe Offshore Energy (formerly Providence Resources) has struggled to raise sufficient funding and successfully commercialise the field over its more than 40-year history.But the government could be faced with a chicken or egg argument, whereby the refusal of the licence may be used by the plaintiff as the reason why funding couldn't be fully secured in the end.Either way, the case will be significant legally and politically.Ireland signed up to the Energy Charter Treaty in 1994, which was originally designed to protect investors in energy in post-Soviet states.But growing litigation of decarbonisation plans under the treaty in recent years has fuelled concerns that it is now stifling climate action in Europe. So much so that the European Commission wrote to member states earlier this year saying that the "most adequate" option would be for the EU and its 27 member states to leave the treaty together.Shock judgmentThe Lansdowne case has another layer to it as it will involve the use of investor courts, which the Irish Supreme Court recently ruled were unconstitutional when it delivered a shock judgment against the Comprehensive Economic Trade Agreement (CETA) between Canada and the EU, taken by Patrick Costello, the Green Party TD.However, the court also said that the government could avoid the need for a referendum on investor courts by amending the Arbitration Act 2010 to give the High Court additional powers to reject the decisions of investor courts. The government appears to have taken no action on this since the Supreme Court judgment late last year.Boylan is taking a separate case against the Irish government challenging the very constitutionality of the Energy Charter Treaty itself, partly on the grounds established in the CETA case.Then there is the politics, as the treaty comes under increasing scrutiny and the number of EU countries announcing their intended exit from it continues to mount.Ireland has kept its powder dry so far on its intentions to either stay in or leave the Energy Charter Treaty, waiting instead to see how proposed treaty reforms may play out.But with the first case notified to the Irish government last week, it may be too late for the state to avoid slugging it out with a fossil fuel company in the controversial investor courts it was warned about for so long.

[srvsrv] 02/7/2023 13:00

Anyone able of sharing the articles in the irish times and sunday business post?

[wpc9] 01/7/2023 11:42

really think 100m is too small an amount to sue Ryan and Co.

[daar] 28/6/2023 19:55

Why no chance, Care to explain?