chart trader your posting of no guarantee of licences and best factor the 4mill in is your own guesswork of a follower with a negative slant on anything sle have or do........which is a bit weird really why you should have that slant being a mere follower...
regarding shale...its there...if it isn't drilled this year and the word is "if"...sle are saving cost and with production revenues in the near future they will be able to carry out works as they see fit....tight gas is a form of shale so maybe news from pnr regarding siekierki might change things..
The rate of shale gas exploration is still falling in Poland. As of 1 April 2015, there were 47 active shale gas exploration and/or appraisal concessions awarded to 14 Polish and international concession holders belonging to 13 capital groups. With 11 concessions, PGNiG SA is the leader in terms of concessions held.
Orlen Upstream Sp. z o.o. holds 8 concessions and Lotos Petrobaltic SA 7 of them. All of the latter are offshore concessions.
One concession – "Bytów" held by Indiana Investments Sp. z o.o. (BNK Petroleum Group) – was abandoned last month. The Gapowo B-1 vertical well and its horizontal leg Gapowo B-1A were drilled in that concession. Subsequently, the latter was hydraulically fracture stimulated in July 2014. Nevertheless, as reservoir tests yielded unsatisfactory results the company decided to discontinue its efforts in that location.
There are no new shale gas exploration and/or appraisal concession awarded.
Since 2010, 70 shale gas exploration wells, including 16 directional/horizontal and 54 vertical ones, have been completed in Poland.
The number of wells drilled in particular years best testifies to a decrease in the rate of exploration. This year, only 2 exploratory wells have been completed and none was spud-in by 11 April 2015. For comparison, in the past years the number of wells drilled by 11 April was as follows:
Competitive tender so no guarantee that u will be awarded the licence if there is another tenderer. Usual award will be for ten years, so looks as the major cost will be an one off, so maybe best to factor 4mill euros into your figures for this year, of course could be more or less. Will not know when the annual accounts are published as it's a cost for this year.
The type of licence. The current regime of two separate licences will be replaced by a unitary prospecting and production licence. Companies with existing exploration licences will have to enter into a competitive tender to transfer these into the unitary prospecting and production licence.
Merrill Lynch, however, adhere to the BoA experts that fundamental factors do not justify such a significant increase in the price of oil. The Bank predicts that another decline in oil prices may have a place in the third quarter of the current year, when the season starts in September, survey of refinery installation repair.
Merrill Lynch: the price of oil has found the bottom of the
29-04-2015 14: 15
It seems that there should be no longer expect further falls oil quotations-assesses the latest analytical report, Bank of America Merrill Lynch. As a consequence, the bank raised its forecast for the average price of Brent crude in 2015 from 58 to 62 dollars per barrel.
Merrill Lynch analysts are of the opinion that the increase in oil prices observed more or less since the middle of March (at the time quotes Brent crude increased from about $ 50 a barrel to near $ 65 a barrel) is slowing the growth stocks of the raw material in the United States, resulting from the increased demand for oil from the refinery, using a period high refinery margins. Then there are the predictions of the escape of the production in North America and increasing demand. The result is a new wave of optimism in the energy sector, manifesting itself a big increase in activity on the financial market and capital markets.
Merrill Lynch, however, adhere to the BoA experts that fundamental factors do not justify such a significant increase in the price of oil.
The Bank predicts that another decline in oil prices may have a place in the third quarter of the current year, when the season starts in September, survey of refinery installation repair.
However, Merrill Lynch raised its forecast for the average price of Brent crude in 2016 from 58 to 62 dollars per barrel, leaving at the same time, the forecast for the American variety WTI unchanged at 57 dollars per barrel.
"The global oil balance in the first quarter of this year turned out to be worse than expected, the latest projections say about oversupply of 1.9 million barrels per day in the second quarter of 2015 and 0.7 million barrels per day in the second half of the year. For this reason, the global oil stock levels will be upward pressure, limiting the possibility of an increase in quotations "-we read in the analysis of the Bank.
Linkies u mentioned that SLE saved 4mill by returning half of their licences, does that mean they have to pay 4mill usufruct fees for the remaining licences and do u know if it's an one off charge or yearly ?
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