Providence Resources Share Discussion Threads

[raisethestake1] 02/2/2021 18:10

If he doesn't sign off for Barryroe , his department will be liable to 'the money message' coming into play and the tax payer will be liable for a 200 million bill for PVR's losses on money already spent on exploration. It would be more in his line to reply to people's e-mails requesting information on their queries regarding Barryroe. I believe it to be a requirement of a government department to reply to a citizens letter or e-mail. He chooses not to and brings his green credentials to the table , leaving himself in a position not to take an impartial view whilst making his decisions. Not everybody holds his views and while alot of the greenery is okay in principal it is not always for the common good of the people. I don't believe that he enters any correspondence with the IOOA or Providence Resources. We have seen no proof of it since he has came into office. Does it take the Martin or Varadkar to come forward and give their views on the Government approach to transition fuels for the energy security of the country to enable us to keep the lights on. Wind and Solar ain't going to cut the mustard. They will always only assist until some genius invents a way of storing electric energy. Batteries will only work small scale and they have a huge carbon footprint. It is time for old sleepy to put his cards on the table or will he continue to rely on imported fuel and gas. To think he wants to add gas to the ban also beggars belief.

[contrarymary] 02/2/2021 18:04

I wonder does Ryan try to time things to do maximum damage. We are at a very delicate moment waiting for the bond to issue and news in relation to same. Fair play to Alan Linn. He was quick out of the traps this morning with an official response calming the nervous. It is as if he immediately recognised the potential impact of the press release and moved immediately to clarify that all is good.

[2dinvestor] 02/2/2021 18:01

https://www.gov.ie/en/press-release/ee960-government-to-introduce-legislation-to-ban-new-oil-and-natural-gas-exploration-and-extraction/Worth reading that all important final paragraph in full. I can see the government weaponising this. If a project linked to an existing licence fails a technical or environmental impact assessment, is compensation still payable to the licence holder?Asking for a friend who sleeps a lot...

[billcn] 02/2/2021 17:09

Yes just heard the news, existing licences unaffected. Great to have clarity. Don't think Eamon will sign off though until he has to , so will wait until we have bond in place and ready to go

[bocase] 02/2/2021 15:44

..and so it should recover with the statement put out today. I have been in this since 2013 and having added considerably at these levels am more confident that overall it will be a multi bagger before too long. Sometimes you need patience, information, faith and balls.

One thing is for sure. You have to be in it to win it.

[aimbagger] 02/2/2021 15:23

Could we possibly close flat on the day? Superb recovery so far.

[roadster750] 02/2/2021 14:28

Brent hits $58.

[roadster750] 02/2/2021 13:12

Done this on my laptop and i can now click it. Ta any ways.

[aimbagger] 02/2/2021 12:46

The link works fine on iPhone Road, here you go: Https://twitter.com/providencereso/status/1356575623674740738?s=21

[roadster750] 02/2/2021 12:43

AIM, could you please make your links clickable by altering the http with say an upper case T like this hTtp or hTTp, I cant cut and paste on my old samsung.

[aimbagger] 02/2/2021 12:13

Providence have tweeted: https://twitter.com/providencereso/status/1356575623674740738?s=21

[roadster750] 02/2/2021 11:21

pi' s rushing back in now!

[peaeff] 02/2/2021 11:00

It's like being in a time lapse with the same situation surfacing again and again. The plain fact is, if believed, we have been assured that existing licences to explore for oil in Irish waters, will be exempt from any future decisions which may be adopted.

That was the case when TOR was at the helm and we have been assured of that by present management. Therefore since that decision was made public PVR, and associates, have further spent millions on enhancing the project at Barryroe.

Would they have done so if they believed there was the slightest chance that Barryroe would be endangered by that ruling being overturned?. I doubt it totally.

However that is not to say that things are still not 100% in place and, if and when they are, I am confident that the necessary licences will be forthcoming.

AIMO regards.

[roadster750] 02/2/2021 10:51

The MM's jump on the opportunity for cheap shares.

[bocase] 02/2/2021 10:45

Well spotted Roadster. It seems pretty certain that Barryroe will not be affected then. Strange the share price has not reacted. Maybe it will take an RNS to clarify the situation.

[contrarymary] 02/2/2021 10:36

Good man Alan. No messing around there.

[roadster750] 02/2/2021 10:02

"The ban would not, however, apply to existing licences so there is still a possibility of production commencing from offshore oil and gas fields currently under exploration.

Fossil fuel companies have been talking up the potential of the Barryroe oil and gas field off Cork in particular.


Pumping from the field would require a further set of permissions which Mr Ryan would be under pressure to grant in order to avoid the possibility of a compensation claim, but that would leave him in a difficult position politically."

[bocase] 02/2/2021 09:43

If anything that Bill would be beneficial to Barryroe if it prevents further exploration licences making Barryroe more of a scarce asset.

[aimbagger] 02/2/2021 09:40

Yes, couldn't believe my luck, been patiently waiting for 5.75p to be hit.

[contrarymary] 02/2/2021 09:35

Still causing a few bedwetters to well wet the bed. Haha their loss your gain.

[aimbagger] 02/2/2021 09:27

Not applicable to Barryroe, from the horses mouth.