Providence Resources Share Discussion Threads

[hermana3] 12/12/2018 21:43

1cag, Unless news on Newgrange not expecting much...

[1cagney] 12/12/2018 21:24

Thanks Herm, I have a calender on my phone too :)

[hermana3] 12/12/2018 20:58

1cag, if there is to be a end of year statement it will in next in next 9 days.

[funtimejonny] 12/12/2018 16:10

Fair point. But I think regulation lies with the government and responsibility with the company as well.

[1cagney] 12/12/2018 15:31

Anyone have any idea when the end of year statement is due ? Not that there's likely to be anything new.

[1cagney] 12/12/2018 15:29

FTJ, I'm not a tree-hugger and have a lot invested here but there has to be somebody looking out for the environment (remember the BP debacle in the gulf), be it a government body or whomever. It's in PVR's (and the countries) interest to adhere to those requirements to the letter while in the process of delivering Ireland's first significant oil production.

[lbo] 12/12/2018 15:07

https://www.independent.ie/news/environment/ireland-needs-to-step-up-its-efforts-to-tackle-global-warming-government-tells-un-climate-talks-37619644.html

[funtimejonny] 12/12/2018 14:31

Kicked into the long grass for another month. Great! I think the government needs to curb An Taisce's remit to involve only stuff on the island and buildings and heritage only. NOT trying to scupper an exploration project in (virtually) international waters. You would never see the UK equivalent body (the national trust) getting involved in this sort of rubbish.

[itsriskythat] 12/12/2018 12:44

DCCAE now has the benefit of reading an affidavit from An Taisce.

Yesterday simply moved the judicial process onwards, and there's now an adjournment for DCCAE to read and provide a response by 15th January.

Until the affidavit from An Taisce, it wasn't possible for DCCAE to comment.

Furthermore DCCAE has the benefit from reading this affidavit to validate its permitting process in January when EXOLA re-applies for the site survey at Barryroe.

[jam2day] 12/12/2018 11:58

one would have thought it would have been notified in court proceedings.

[blustry123] 12/12/2018 11:23

Met A legal eagle by accident this morn...He tell me .... Postponed Jan 15 2019, thats all I have

[funtimejonny] 12/12/2018 11:20

Surely it should read "accounted"?

[1cagney] 12/12/2018 10:37

Published by Davy Stockbrokers this am.... The story of Barryroe, and Providence’s efforts to progress its development, has moved forward significantly. Following several years searching for a partner, the deal announced earlier this year and recently updated and expanded has real potential to unlock value for shareholders. So far, this achievement has only partly been discounted in the share price. However, this is very unlikely to last, especially in the context of the five-well drilling programme that is due to start in Q3 next year.

[greyingsurfer] 12/12/2018 09:46

Not quite standing room only in the chamber!

[roadster750] 11/12/2018 21:05

Thanks to Mr Meehan

[funtimejonny] 11/12/2018 17:46

The Answer is....When the rig has started drilling, or a bit before!

[papillon] 11/12/2018 14:36

LOGP share price dropped over 9% to 1.45p on tiny volume so had a small punt (bought 25k @ 1.5p). LOGP share price now back up to 1.575p. Wish now I'd had a bigger punt!

That's LOGP for you. Small Mkt Cap and small free float so it can be very volatile on tiny volumes.

I'm confident that PVR will be back over 20p and LOGP back over 3p. When is the question.

[funtimejonny] 11/12/2018 11:58

Anybody know what time the court is meeting...and when will we know the outcome?

[steelwatch] 11/12/2018 10:33

"Background - Legal Proceedings

On November 15, 2018, the Company was notified that An Taisce issued
legal proceedings on November 12, 2018 against the Minister and the
Attorney General (with EXOLA as a notice party) regarding the issuance
of the permission for EXOLA to conduct well site survey operations at
Barryroe. Specifically, in its application, An Taisce sought to
challenge by way of Judicial Review the process by which permission for
the well site survey operations had been granted by the Minister, as
well as raising other issues relative to environmental assessment and
compliance with EU law. The matter initially came before the court on
November 20, 2018 but was adjourned by Mr. Justice Noonan until December
11, 2018.

Postponement of Site Survey

As a result of this voluntary decision not to act on the site survey
permission, EXOLA has postponed the planned well site survey for Q4 2018
and will now apply to the Minister for a new permission to carry out
well site survey activities as early as practicable in 2019, in advance
of its drilling programme at Barryroe which is being scheduled for later
in 2019. Without prejudice to the site survey application process,
EXOLA is planning to be in a position to conduct its well site survey
operations in spring 2019 in advance of the commencement of the planned
drilling operations in Q3 2019, such drilling operations being subject
to the requisite approvals and consents from the Minister.

Commenting on the announcement, Tony O'Reilly, Chief Executive of
Providence said:

"We are frustrated by this turn of events, especially as we complied
fully with all environmental and planning regulations in applying for
and subsequently receiving the site survey permission. However, with
the site survey permission now being the subject of legal challenge,
combined with delays with the site survey vessel arriving in Irish
waters, would have resulted in undue delays to the Company carrying out
its proposed activities. Whilst it is disappointing that this situation
has arisen, we felt that it was in the best interest for the overall
programme not to act on the site survey permission and re-apply, thereby
avoiding any unnecessary costs and possible further delays associated
with the judicial review proceedings.

Whilst this rescheduling will impact the planned start of the
multi-well drilling programme at Barryroe, moving it from Q2 2019 into
Q3 2019, we believe that it does not materially impact the timing of the
overall delivery of the programme." "

[steelwatch] 11/12/2018 10:29

The case is going ahead because of An Taisce's agenda. PVR has withdrawn and intends a "quick" reapplication to address An Taisce's objections in advance as a precaution against the government having to strengthen environmental regulations to comply, thus saving time with the approval process.

[zhockey] 11/12/2018 09:13

If it's just a technicality and PVR have withdrawn the application, then I wonder why is the case is still going ahead at all?

[hermana3] 11/12/2018 07:54

zh, those barstewards at an Taisce will be challenging the Govt and Providence on some techicality. Would be nice to see their funding wings clipped but not holding me breath. Expecting them to be dismissed from Court today but market is nervous as the Courts are a lottery.

[funtimejonny] 10/12/2018 17:38

A few sellers about today!