Oil finds, banks, accountancy firms, politicians whose interests seem conflicted and a call for propaganda

Inspired by ‘Providence’, Petrel resources are the latest company to have struck another Billion barrell oil find off the South West Coast of Ireland. They have also been moving, since the early noughties for serious interest in Iraqi oil fields.Petrel resources was set up by former UCD academic John Teeling, who has also made millions from whiskey and mining companies. Petrel shares have quadrupled on the news.

According to the Irish Independent Providence resources is seen as the star performer on the ISEQ (Irish stock exchage). Their shares increased by more than 200pc in the past year. It goes on to state that numerous well-known names in business, politics and sport, including the Minister for Justice have also invested in Providence. Although the amount in his case is small I am troubled by the possibility of a conflict of interest given the ongoing fracas between Irish communities and the exploration/oil/gas companies operating here.
Look at who the main shareholders are in Providence.

Shareholders: at 12th November 2012
Sir Anthony O’Reilly 15.45%
JP Morgan Chase & Co 6.66%
Henderson Global Investment Limited 3.88%
BlackRock Investment Management (UK) Limited 9.93%
F & C Asset Management plc 3.35%

Blackrock did one of the stress tests on the banks.

Add to this a former Fianna Gael Education Minister saying boldly on Vinnie B’s show that all referenda to change the constitution of the Irish state should not be debated in a balanced way by the Irish media and that the Govt of the day should be allowed to use tax revenue to pay to promote the government’s agenda. A blatant call for unabashed propaganda.
Check from 40 mins into the clip.

THE value of exploration company Petrel Resources quadrupled



Shatter’s shares 

Petrel profile

Vinnie B




8 comments on “Oil finds, banks, accountancy firms, politicians whose interests seem conflicted and a call for propaganda
  1. daddy warbucks says:

    Just when you think things couldn’t possibly get any worse, you realize this has been going on under your nose (and above; drones watching you).
    A liberal democrat and the Tea Party coming together on Agenda 21:
    U.N. Agenda 21 w/ author Rosa Koire BEHIND THE GREEN

    Synopsis if agenda 21:

    A must watch (and share):
    “more education increases the threat to sustainability” – you can’t make this up.

    Youtube: Agenda 21 For Dummies

    Youtube: Agenda 21 for Public Officials

    UNESCO is part of it; “You must destroy the family so people will then look to the state for direction”.

    youtube: UNESCO – It’s Evil Purpose and Philosophy

    they will regulate, fee, tax and fine you, until you give it to them or they create a reason to confiscate it from you, one way or another.

  2. JosephConrad says:

    First , Discus Censors its ‘Comments’ & ‘Commentators’. Second, I wish Ireland luck in its future fight to maintain its sovreignty once the Oil hits the makets…

  3. Mary Genoud says:

    Even better; Ireland has great wave (tidal) energy. Think again Ireland, which resource is more secure and prosperous.

  4. Al Kyder says:

    I dont think Ireland has any oil. These peopke are what we call in Oz, professional stock market miners. This looks like another ENRON Nigerian Barge Scam.

    Ireland does have gas however lots of it.

    I covered this recently here

    In response to a question by a reader ; BTW … Oil off Ireland?.


  5. eileen dublin says:

    dalkey Exploratory rig set to be in place by Dub 14th. @ Al kyder what youre saying resonates a bit .

    Petrel OZ based. Have you any OZ based story links so i can check for how they are using the same template. Many thanks.

  6. eileen dublin says:

    licensing regime as “completely out of line” with international best practice. “There is no requirement to bring oil on shore or generate jobs.” He noted that in two surveys of more than 100 licensing regimes, Ireland was “second worst” to Cameroon in one and Peru in the other.

    Earlier he said that for legal reasons, it would be difficult to “unpick” the Providence deal “but what we can do is make sure future licences are properly set up”.

    Pádraig Campbell, a former oil rig worker, said the authorities adopted an attitude of “the oil company knows best. We rely on what the oil companies tell us; full stop.”

    Mary Anderson from Shankill said the issue was not just about Dalkey but 69 exploration sites and “we have got to think of the bigger picture”.

    Providence has argued the project would be of “significant economic benefit to Ireland Inc”. It said: “Up to 40 per cent of profits from production of such a commercial discovery would accrue to the State over and above the employment that would be created in support of these activities.”

    Dublin Bay Concern said it was campaigning on three platforms: the environmental concerns, licensing and taxation issues, and what it sees as inadequate public consultation.

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