Providence Resources Forum

Sobeit, my understanding is most of Sequa's $300m for Barryroe, would have been spent on development Barryroe. PVR would get a free carry on the development costs and a smaller cash payment. The share price might go to €2 but not on the basis of PVR getting €300m in cash. The valuation would be based on their estimated share of profits from future events that a development would enable. .

A purchase of the whole company for 500M would be exceptable.

oops....reinstatement costs. Where real Govt negotiation will take place.

Whitegate process units will close and probably be mothballed but jetty, pipelines, storage and roadloading very valuable. Storage needed to fulfill IEA obligations. Elephant in the room is acquirer taking on humungus costs of environmental reinstatementesstate

As much as one would like to see Barryroe supply into Whitegate. The reality is Whitegate will close for refining & the oil in Barryroe will stay in the ground.

Jimmy 24 how is he your leader, if you don't hold any shares? Have you made some recent purchases

In the Examiner article the magic words from Dept are "operation......on a commercial basis". There will be no state aid in any form given the scale of loss exposure. Crude freight savings ex Barryroe, if achievable, will not offset the inbuilt uncompetitive refining margins. Never seen a refinery statement on the suitability of the crude, which is first question in such an economic analysis.

I presume they were bought and sold by the same person to realise a loss

Perhaps son helps to his father....

l am fed up listening to the idiots decrying o Reilly snr. as a pariah in the same vein as Quinn and all the other business people and developers who lost money for investors erc. oReilly lost most of his money trying to prop up waterford / wedgewood business and pension fund at least he bought property and spent money in this country.you idiots tackle junior not senior