George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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As you seem to be a know it all why don't you sit at the head of a regulatory body as I'm sure your vast experience would only be an asset?
Auntie, It's good of you to admit that you have no particular objection to hydraulic fracturing per se. The shale gas industry is being watched to the Nth degree, far more than any comparable small industrial project. Bye.
So it relies on the "creation of a robust regulatory regime". Same in the UK. But the regulatory system is not robust enough - based on offshore regulation and self regulation. Until it is robust enough fracking should not proceed. Thanks for pointing this out.
The Australian government (Labour) has just released the interim results of an independent report into fraccing, they are positive.... 1. “The major recommendations, consistent with other Australian and International reviews, is that the environment risks associated with hydraulic fracturing can be managed effectively subject to the creation of a robust regulatory regime.” 2. “Having regard to the substantive weight of agreed expert opinion, the Inquiry finds that there is no justification whatsoever for the imposition of a moratorium on hydraulic fracturing in the Northern Territories" In the same week speakers at a US conference estimated that existing shale gas reserves worldwide are so immense that if we we consume at the current rate we have enough gas for 200 years with the likelihood that this young technology will progress to the point where that will be an underestimate.
Despite the silly positive up-talking, Igas just continues to slide even further, continuing their 3.5 year downtrend. Down 14% in a month. How's that "coiled spring? looking?
A somewhat patronising, and indeed incorrect, assumption.
They over priced it when they consolidated, it was never worth 75P and the market is telling them so.
Sor far it seems to be the fringes of society, and a few unread adults. With a splattering of hitch-hikers hoping to get a boost up in society by their publicly support against fracking. If you are old enough to remember the old CND marches of the past and the Swampies etc....Where did they all go ? I can tell you, they grew up, became responsible citizens and had 2.2 kids, they have nearly, if not all, paid off their mortgage and they are looking forward to the next visit of their grandchildren. They cringe at what they used to get up to as adolescents. Once fracking get underway the present demonstrators against it will come to accept it and turn their attention to other non-productive demonstrations, my bet it it will be either Brexit, or HS2
Auntie, I'm sure you're not bothered but this paragraph is from the National Grid's recent document "future energy scenarios" "Gas is critical to security of supply now and as Britain continues the transition to a low carbon future. It will have a long-term role as a flexible, reliable and cost-effective energy source favoured by many consumers." Please also note that shale gas is already in the UK energy system via imported LNG. Actually this is quite serious, all our nuclear power stations will be gone by 2035, North Sea supplies are in decline, and Norwegian supplies are also in (slower) decline. Uncertainties about carbon pricing and the carry-over from the low oil price means investment in gas exploration has been low (but is improving). Currently there is a glut of worldwide LNG (coming from conventional methods as in Qatar, and shale gas as in the USA) but almost all countries are responding either to a climate change or pollution agenda and replacing coal with imported LNG so the price will probably rise and or move into shorter supply. Wind & Solar cannot take up the slack until battery technology is better advanced, even Elon Musk is running short of batteries for his Tesla car manufacture. All in all UK energy is not in a good place so if you care about your children's future then think about where our base load of energy is going to come from over the next 40 years or so.
Very disappointed with this share , didn't think this would be so slow !
“The shale industry is never going to take off because of public opposition”. http://energydesk.greenpeace.org/2017/07/14/uk-fracking-bank-loans-challenge/
I cannot help but feel, that there is something much deeper here. Is, one idea being that OPEC have failed to rig the price of oil, mainly because there are too many countries in the association, so they are picking on the weaker ones, to bring the rest into line for fear that they may be next ? Is perhaps there a military/strategic advantage in Saudi being able to control Qatar ? Is is perhaps something to do with Iran's nuclear facilities and Qatar is being threatened as a bait for Iran to defend it, in turn to produce a reason to go to war with Iran and to bring the West in overtly because America have a mutual defence treaty with Saudi. Covertly to to destroy Iran's nuclear capability. This is the reason I favour most
Courtesy of The Guardian Thursday 5 January 2017 11.06 GMT "The energy company Cuadrilla has started work on a controversial shale gas site in Lancashire that will later this year become the first well to be fracked in the UK since 2011" Chief executive of Cuadrilla, Francis Egan “It’s a resumption of operations,” he said. “It’s been a long break. So for us it’s good to be able to commence work on the ground. We know there’s a lot of gas in the ground and we hope to demonstrate that it can be made to flow out in commercially viable quantities.” Kerogen is invested in AJ Lewis which has a substantial holding in Cuadrilla. Kerogen has recently invested $35m in return for a 28 per cent stake in IGas. IMO a strategic investment DYOR
News that the attacks on suppliers by Cuadrilla protesters (and presumably therefore a higher threat assessment) has led to an increased 24 hour police presence at the Preston Road site. Police have been bussed in from other parts of the country to cover the extra workload. The road outside the site has had to be closed at least once because protesters had locked themselves together in the roadway outside. That won't endear them to local people. But I'll say something for 'em - green bladders must be strong bladders.
As most of teh Australians that owned 83% of Igas before the recent restructure, I haven't been able to attend any AGM of Igas but I read everything the company puts out. Why? How does that matter? I deal in facts rather than overly optimistic and unfounded fantasies.
No sign of the Saudis and their allies responding to Tillerson's agreement with Qatar to stop terrorist funding. They seem to be playing hardball. Hard to know what the Saudi objective is? Have they gone too far to lose face now or is there a hidden agenda, even something as bald as a land grab for gas resources? But would they risk a confrontation with the Turks and Iran? Whatever, it seems to me there is insufficient risk premium built into the oil price right now.
This week we’re almost all cooking with a bit of fracked gas. According to the Financial Times the first shipment of LNG From Sabine Pass in the USA arrived at the Isle of Grain Terminal around July 8th on LNG tanker Maran Gas Mystras. Almost certainly the gas would have been pipelined from one of the major gas producing areas in the USA, which means it’s as likely as not to be shale gas. So this week the gas will be moving into the system, either directly into our gas pipes, or providing the 40% of electricity that is generated from a CCGT station
Reminder of recent news.... Financial Times IGas plans UK shale exploration after restructuring clears path UK group earmarks east Midlands sites for drilling as it examines case for fracking July 3, 2017 4:00 am by Andrew Ward, Energy Editor IGas, one of the UK’s largest onshore oil and gas producers, is aiming to start drilling for shale gas later this year after a financial restructuring that wiped out more than $100m of debt. The London-listed company has approval for exploratory wells at two sites in the East Midlands, in partnership with Total, the French oil and gas major, and Ineos, the privately owned UK petrochemicals group. Stephen Bowler, IGas chief executive, said a refinancing in March, in which the company raised $55m of fresh capital and cut borrowings from $122m to just $7m through a debt-for-equity swap, had cleared the way for drilling to start. IGas was aiming to commence work at Springs Road and Tinker Lane in Nottinghamshire in the fourth quarter while also seeking approval to drill at several sites in the north-west of England, Mr Bowler added, in an interview. The plans add to growing momentum behind efforts to bring US-style fracking to the UK as privately owned Cuadrilla and Third Energy press ahead with wells in Lancashire and Yorkshire, respectively. Unlike Cuadrilla and Third Energy, IGas does not yet have approval to start hydraulic fracturing — pumping water, sand and chemicals under the ground at high pressure to release gas from “tight” rock formations — but its planned wells are designed to take core samples, which it hopes will demonstrate the case for fracking. Mr Bowler said the coming months would be an important test for the nascent UK shale gas industry, as IGas and its rivals try to disprove sceptics who question whether the US shale boom can be replicated in a more densely populated country such as Britain. “A lot more technical work has been done in the UK before drilling than was done in the US. But we will still need tens of wells to be drilled before we will know [if UK shale gas is commercially viable],” Mr Bowler said. “Almost as important as whether the well flows [with gas] is doing it safely. We will have to do things more sympathetically than in the US.” As well as questions about the viability of fracking in the UK, IGas has faced doubts over its financial sustainability but Mr Bowler said these were now settled. “We’ve fundamentally changed the balance sheet and can rebuild from here,” he added. “It showed that we were here to stay.” The refinancing was led by Kerogen, an energy-focused private equity company which also has stakes in Cuadrilla and a promising North Sea explorer called Hurricane Energy. “Kerogen coming in changed the dynamics for us because their credibility and technical expertise gave confidence to others to back us,” said Mr Bowler. Hong Kong-based Keroge
Meta4 When was the last time you attended an AGM? I don't invest in something without research. Unless you have something to contribute other than an axe to grind - Bye! (Short, no point in metaphors)
"Unsupported Negative comments only designed to aid the Tree Shake" How about unsupported positive comments are simply ramping. After being an unwilling shareholder in this flea-bitten dog for the last three years and lost a lot of money (like anyone that's held this company over that time frame), I've seen how negligent the directors have been and how there is still no change that is going to do anything positive. A coiled spring that's going to gap up soon? I suppose it's only pining for the fijords.
IGas - Largest public UK shale company and operator of largest number of fields onshore UK. IMO a Buy after recent restructuring, equity raise and debt reduction to £8m (debt reduced by over £100m as part of the debt for equity swap). Recent News - IGas Aims To Start Drilling For Gas This Year - Financial Times https://www.google.co.uk/amp/s/amp.ft.com/content/86afb348-5d5f-11e7-9bc8-8055f264aa8b IMO last few days shares walked down so they can be bought back later in the day by well informed major investors. See buys and sells at 72 yesterday afternoon (millions also sold and bought 30/06/17) SP is a coiled spring that should Gap up soon. Unsupported Negative comments only designed to aid the Tree Shake I used yesterdays dip to top up so thanks. Good luck all.
4.5 to 3.6 terrible
Wow 4.5p to 72p. When did this happen?
"New investors and New Directors but same potential " Unless the company actually does something, that is the same (lack of) potential. And they are headed back to 4.5p again except that will be 1/20th of 4.5p. They've done absolutely nothing (positive) for the last three years. The directors don't even appear to know the company has shareholders.
Hi Mike, shares have been consolidated as part of recent restructuring (debt for equity) 1/20 or 4p = 80p IMO Now cash positive on existing producing assets at sub $50 oil. New investors and New Directors but same potential Has recent planning consent plus $230m free carry. Drilling about to start later in the year. IMO a good point to top up but as always Mike....DYOR