Spanish Point Gas find "bigger than Corrib" says O'Reilly

[Shell to Sea]

It's always interesting to see what sort of news is released in the second week in August, when even the dogs and cats seem to be on holiday. Yesterday the Irish Examiner carried a brief story on the Spanish Point gas find, and how the profits will be divvied up when the gas comes ashore. It's all very interesting of course, but sad too, since none of this Irish resource belongs to any of the people of Ireland anymore.


Providence Resources holds 80% of Spanish Point, acquired four years ago and its partner Sosina Exploration has 20%. The people of Ireland don't own even one per cent of their own gas.

From the article: " [Providence] Chief executive Tony O’Reilly Jnr said the discovery was bigger than Kinsale Head or the Corrib Gas Field."

The Corrib gas field has been estimated at 1TCF (Trillion Cubic Feet) valued at about 16 Billion dollars.


Full Examiner Story here:
http://tinyurl.com/6n85yr


(Or with a preview http://preview.tinyurl.com/6n85yr)

Maybe this would be a good opportunity for someone from Fianna Fail to explain what expertise Tony O'Reilly has that the Irish State doesn't, and why we couldn't have at least as much a stake in our resources as he does, or even as much the people of a country like, say, Chad...

[Sidewinder]

And the sheeple will sit quietly and take it. Blatant FF thievery and corruption on a colossal scale, and nobody wants to "rock the boat".

In most other countries this kind of corruption would trigger a revolution. Why are the southern population so servile and passive?

[Leftfemme22]

And the sheeple will sit quietly and take it. Blatant FF thievery and corruption on a colossal scale, and nobody wants to "rock the boat".

In most other countries this kind of corruption would trigger a revolution. Why are the southern population so servile and passive?

Because they are preoccupied with the imminent Muslim threat?

[Wolverine2]

************************. I like surfing there. I don't like the idea of it being focked up by some pipeline.

[Nagy]

Good news for Shell and the oil companies. Irrevelvant for everyone else.

[Sidewinder]

Good news for Shell and the oil companies. Irrevelvant for everyone else.

It's not irrelevant. This oil & gas belonged to the Nation i.e. you, and was sold off to O'Reilly for a pittance in a corrupt deal by none other than Bertie Ahern and Ray Burke, and now O'Reilly will make billions from your birthright, while you and every other citizen will get absolutely f*** all.

You, every member of your family, every person you know, were blatantly robbed by FF gangsters. Shooting is too good for them.

[mountainyman]

The Irish people will do nothing because theya er servile scum.
The Khmer Rouge had the right idea!!!

[Nagy]

Good news for Shell and the oil companies. Irrevelvant for everyone else.

It's not irrelevant. This oil & gas belonged to the Nation i.e. you, and was sold off to O'Reilly for a pittance in a corrupt deal by none other than Bertie Ahern and Ray Burke, and now O'Reilly will make billions from your birthright, while you and every other citizen will get absolutely f*** all.

You, every member of your family, every person you know, were blatantly robbed by FF gangsters. Shooting is too good for them.

That's why it's irrelevant, because the government will hand it straight over to their capitalist mates and if anyone objects they will be labelled a tree hugging hippie by the governments stooges in the Irish Times and Indo.

[CookieMonster]

The Irish people will do nothing because theya er servile scum.
The Khmer Rouge had the right idea!!!

Stop trolling.

[Gimpanzee]

Good news for Shell and the oil companies. Irrevelvant for everyone else.

Not entirely true. Small sharelholders in Providence might make a few bob too. Like me. But unfortunately this 'news' is best put back up on the dusty shelf it came from. O'Reilly has sunk a fortune in to oil exploration here in the past 3 decades and hasn't yet produced a single drop of oil.

You'd wonder why if providence own 80 percent of more than €16bn worth of oil, why is the market capitalisation for Providence = €226,173,356 as of half one today? On second thoughts, lets ignore that. It doesn't fit with the rest of the thread.