Trp and Bnk...anybody reckon that we ll have the well deserved pleasure to experience a similar scenario in the run up to our Genel Moroccan well and our Lewino horizontal by Uos? There are no reason why not but past experiences says different. Guess we ll have to just wait and see then!
Estimates of Cuadrilla's shale gas resource in the North West of England may have to be increased significantly upwards.
A geologist with the company said there is 330 trillion cubic feet (tcf) of gas in place in its licence area, 50% more than previous estimates.
Cuadrilla is the only company in the UK to have used hydraulic fracturing (fracking) in its test wells.
But it could take two years to see if the gas is commercially viable.
Last summer the British Geological Survey (BGS) reported that there could be around 1,300 tcf of gas in the Bowland basin in North West England.
Based on data from two wells that it had fracked in 2011, Cuadrilla estimated that there was around 200 tcf in its licence areas.
Now a more detailed analysis of seismic and well data suggests a significant upgrade to the gas potential of the area.
"In terms of the resource in place, we originally came out with 200 tcf," said Huw Clarke, a geologist with the company, told a conference in London.
"That was just off one well, that was ratified by the BGS, and we were very happy about that. Since then we've drilled two extra wells and we've shot 100sq km of 3D seismic information and I believe there's closer to 330 tcf in place just within Cuadrilla's licence area alone."
Cuadrilla Place £136 Billion Value on Shale Resources
The chief executive of UK shale gas proponent Cuadrilla, placed value of the company's Lancashire's shale gas find at £136 billion.
The disclosure by Francis Egan was made in a discussion held on BBC Radio Lancashire.
Egan said that Cuadrilla's valuation of shale gas was not "over optimistic" and that the company felt that it would be able to extract 10% of the 200 trillion cubic feet of shale gas from the Bowland basin discovery
Cuadrilla officials maintained that the process of hydraulic fracturing (fracking) used in the extraction of the unconventional gas was safe.
so 10%=20tcf=136billion............what our JB stated before scincy/lewino rogity..in jan 2012.......
When one looked at the resource estimates, according to him, one saw tremendous numbers. “Just net to my company in Poland, we have the potential for more than 40 TCF of recoverable gas – those numbers are scalable throughout our portfolio. This is not just a well or a small field. This is a game changer, for everyone that’s involved here in Poland.”.....................our 40 recoverable gas..got to be worth £272 billion..links
how much gas has sle have potentualy on our concessions??............ Even Ukraine’s ousted President Yanukovich, despite his dealmaking with Russia, had clearly acquiesced to pressure to explore Ukraine’s other energy options. Last year Ukraine signed natural gas exploration deals with Royal Dutch Shell as well as Chevron, which pledged to invest as much as $10 billion if adequate supplies of shale gas were found. The government said it hoped the two companies’ projects would add more than 50% to Ukraine’s current domestic natgas supply. Ukraine could hold more than 40 trillion cubic feet of recoverable shale gas, enough to satisfy decades of demand. what our JB stated before scincy/lewino rogity..in jan 2012.......
When one looked at the resource estimates, according to him, one saw tremendous numbers. “Just net to my company in Poland, we have the potential for more than 40 TCF of recoverable gas – those numbers are scalable throughout our portfolio. This is not just a well or a small field. This is a game changer, for everyone that’s involved here in Poland.”
takes no workin out that sle are sitting on a fortune..so if shell and chevron are looking to spend $10 billion each...how much is our gas worth....links
are we in Q2 yet??....so as yet no deadline on production/income broken!!..........................here is an example to those who thought the realm t/o ws wrong....look at the gas 100bcf per sq mile or 156mmcf per acre......
Polish Shale Observers Await Outcome of Realm Process
Shareholders of Realm Energy International and observers of development in Poland nascent shale gas industry, continue to wait for news on the outcome of the company’s on-going value creation efforts.
In May, Realm announced that it has retained GMP Securities as part of initiating a process to “identify, examine and consider a range of strategic alternatives available in connection with its interests in Poland.”
Realm said the decision to engage a financial advisor was taken after its Board of Directors has concluded that the company trades at a substantial discount to the inherent value of its underlying assets.
Realm holds interests in three Polish shale concessions. Its wholly owned Gniew concession, located in the heart of Baltic Silurian shale play in Northern Poland, is viewed by industry players to potentially be the company’s most prospective asset.
The Gniew concession covers a gross area of 294,000 acres and lies contiguous to territory to where 3Legs Resources plc. and ConocoPhillips are reportedly preparing to drill a third exploratory well in their campaign seeking shale gas in the Baltic Basin.
Though Poland has seen a series of joint ventures and acquisition activity involves shales, Realm announced that it intends to move forward with drilling programs on acreage positions once seismic surveys have been completed and potential well locations determined.
Industry observers viewed this news as indication of the unsatisfactory terms of joint venture proposals that we being presented to the company.
In announcing that its engagement of GMP, Realm cited an independent report that estimated gas in place estimate of approximately 100 Bcf per square mile (approx. 156 MMcf per acre) for the shale gas prospects in the Baltic Basin.
Westie,links is an excitable soul but talking billions is baloney until SLE make their first £1. Theory is great but so far San Leon's theories have not been converted practically even once. Despite promises,of no more dilution as Turkey would pay for this and that , the fact we have appointed a new specialist broker leads to to think that extra funding is headed our way. Links will have other ideas I am sure but in business you need to meet deadlines. We have failed to meet one milestone which is unsettling for me personally but I wait in hope
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