The Question with regards SLE is will they suddenly become oil giants changing from 4.5p to £5. I seriously doubt that this will happen in the next 5-10 years. The dilemma is will the current SP double making losses more bearable or will they fall as is more likely to 20-30p over the next few months.
"The gas field is not going away largest discovery in Poland for 20 years fact"
Haifwit, that is not difficult if it one of only a handful discovered in the last 20 years. Look up the statistics, I think you will find the list of discoveries quite short.
I guess It's not a great place for natural gas. thats why Poland relies so heavily on imports from Russia, has built one of the biggest LNG import terminals in the world this year and burns its own coal. Not a lot of infrastructure in place to handle gas. I think I recall Osin saying SLE would use lorries. Thats OK if you don't have much to ship but gets expensive and slow and dangerous and is expensive to set up.
Do you think that Palomar have not informed us of any progress because there is no progress to report or do you think they just like keeping secrets?
Perhaps, even with the biggest discovery in Poland in 20 years its still not financially viable. Perhaps they have no more than the discovery to report? It was a long time ago now and the promised production I recall hasn't been mentioned again for ages. Why?
Love to hear your informed opinion on my comments. I do look forward to them.
Hi Sid, Shale gas in Poland does indeed seem to be dead in the water. Being able to commercially produce it was always a gamble and shareholders in many companies did indeed gamble 'millions upon millions'. It's not San Leon's fault that they were unsuccessful... because nobody was successful. They tried their best and when everything went pear shaped they were resourceful and flexible enough to bounce back as an oil producer in Nigeria. No point looking backwards and thinking...I wish...if only... Remember the disclaimer: "Past Performance is Not Necessarily Indicative of Future Results ..." San Leon, rising like a phoenix from the ashes of Polish shale!
Welcome back Haifwit, hope you had a nice time off.
Thank you for responding to my research. I am not surprised that you found it negative, so did I after years of hype and hope regarding our Polish shale resources, it turns out there's nothing and SLE have spent millions upon millions there.
A few questions for you as I know you like to comment in depth on SLE.
How do you think the lack of shale gas in Poland will effect the conventional gas production? Do you think the pipework infrastructure that was planned will now be cancelled? Do you think this may make it harder and more expensive to exploit conventional gas?
Do you think that the storage infrastructure will also not be developed in the same way which may effect SLE's ability to exploit conventional gas?
Will the massive LNG terminal, opened this year, now take over the whole of supply needs for gas in Poland?
Many thanks in advance, much looking forward to your in depth learned opinion.
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