Thirteen new licences have been granted for gas and oil exploration.

[bob3367]

Providence Resources Plc; Chrysaor; Serica Energy; Sosina Exploration; San Leon Energy; Antrim Energy; Bluestack Energy; Europa Oil Gas; First Oil Expro; Petrel Resources; Repsol Exploration; and Two Seas Oil Gas Ltd

I am not here to give advice on buying exploration company stock, but please do your research, get a copy of the accounts, understand the business, and more importantly understand the risks.

By way of research I would recommend Bula, Atlantic Resources, and Tullow that should satisfy the interest.

[Lassie]

The combination of the pub and the betting shop will never die in Ireland. Whether Galway races tent and side bet on property speculation between the races over a round of drinks or a saturday gamble on the dogs. basically we'll drink and bet on anything that can move.
No wonder the banksters love us!

Cultural significance

The despised image of the gombeen as an usurious predator on the poor was immortalized in the poem The Gombeen Man by Irish poet Joseph Campbell:
“ Behind a web of bottles, bales,
Tobacco, sugar, coffin nails
The gombeen like a spider sits,
Surfeited; and, for all his wits,
As meagre as the tally-board
On which his usuries are scored."

[DiarmuidM]

[regnal gib 1]

Diarmud you badly need a b*** job

[NorthWest]

And if they hit oil and the oil quality is good - they get to sell the licence on to the Shell/Exxons of this world presumably?

And if not, they absorb the cost and move on to the prospect site?

What a precarious industry!

Precarious indeed, but is this not where the likes of Irelands Tullow Oil came from.

[Lassie]

Notice was published today of an application to do a site survey and exploratory well drilling in the Kish Bank, just beyond Dalkey Island. The public consultation period is open until 2 February. I urge everyone to read the documentation of this application of this project which obviously has potential environmental impact.
Please pass this on to your friends, use your contacts in your community, Dalkey Killiney, Bray, Greystones, etc to spread awareness of this project. The period of time to object closes on Feb 2.
I personally have not finished reading, but the first few paragraphs of the Environmental Assessment indicates the richness of marine mammal, fish and bird life in the area. Spills and leaks are always a risk, and to a certain extent anticipated...not to mention that we need to move toward solar and wind and away from hydrocarbons.


Providence Resources P.L.C - Department of the Environment, Community & Local Government

The application details can also be seen at Dalkey and Dun Laoghaire Garda stations.

Breathe deeply, move freely, share kindness.

A facebook page has been created to spread awarness about the oil drilling plans.

https://www.facebook.com/#!/pages/Pr...25301337491798

[Nemesiscorporation]

Here's the full press release for today's announcement:

Atlantic Ireland 2011 Dublin 17 October 2011 - Department of Communications, Energy and Natural Resources

More on the Rockall dispute here:
"The four competing applications are likely to be reviewed by the UN's Commission on the Limits of the Continental Shelf (CLCS) in March." It's still being considered

Oil billions at stake as UN examines British claims to Rockall | UK news | The Guardian

If Scotland becomes independant, then the dispute will get very interesting, very fast.

[Astral Peaks]

Now comes news that groups opposing Providence Resources application for a foreshore licience to search for oil and gas in the Kish Bank off Dalkey Island are to meet tomorrow to consider the issue.

Public meeting to be held over oil drilling off Dalkey Island - The Irish Times - Mon, Jan 23, 2012

The firm, run by Tony O’Reilly jnr and Star Energy Oil and Gas Ltd, which holds an option over eight blocks in the Kish Bank Basin, is seeking the licence to establish whether oil or gas is present in commercial quantities.
The foreshore application is currently available for inspection at Dalkey Garda station, with February 2nd as the closing date for submissions. The opposition group is urging people to petition Minister for the Environment Phil Hogan to refuse the licence.

Providence personnel ; Providence Resources - Key Personnel

[ivnryn]

Why would Pat Rabbitte (and by definition Enda Kenny, Eamon Gilmore and others with collective cabinet responsibility) enter into a deal that rips off the Irish people? What would the motive to do that be?

Given how pissed off people are about Corrib and other giveaways, the government should have been very public about the terms and conditions. Ideally, they should have auctioned the licenses, so it is clear that the government are getting us a good deal.

The lottery example is a good one, just because the winning ticket is worth a million Euros, doesn't mean that selling them for 1 Euros is a bad plan.

However, if the tickets were given away for free, then people have a right to complain.