Last point - as ALk sold EDr shale - Ineos has re-affirmed the approach and bought Shale assets leaving the above resources - IN THE MIDDLE OF A TAKEOVER!!! Could Egdon get taken over in the near future especially if it substantially increases it's unconventional resources - only IMHO who knows - looking more +ve I believe despite the protests - Coal is the killer just look at Drax 4GW 24/7 say no more see the acid rain?
Ineos sets the tone for the Uk
Actions always speak louder - Ineos has a different agenda to the market - thank God, it's where Britain used to be leading - I might be wrong but Ratcliffe is a game changer - to quote his Everest sponsorship as a measure “I had sent literally hundreds of letters to potential sponsors but had very little luck,” he said. “But then INEOS stepped in which effectively guaranteed I could do the climb.” INEOS chairman Jim Ratcliffe agreed to meet Rhys to discuss the planned expedition. “I had no idea what to expect when I met him,” said Rhys. “I remember turning up in my beaten up hatchback and wearing a suit. He was wearing jeans and a T-shirt.” The two chatted for an hour. “I got the impression nothing is lost on him and he seemed very engaged the whole time we were talking, which was impressive considering how much was probably going on,” said Rhys. “It was also a sign that he had good people working for him in that he could spend a big chunk of the day talking to me.” The face-to-face meeting resulted in a £30,000 sponsorship deal with INEOS. “It was a game changer,” said Rhys. With the money in his pocket – and an INEOS flag to plant at the summit – Rhys could now concentrate on the journey that lay ahead. The measure of the man - the end. GL
Ineos Exploration Shale Scotland
Did call this - see Quote announcement Ineos takes its first step into UK shale exploration, By Anthony Clark Posted 18 August 2014. Ineos has moved into UK shale exploration with the purchase of BG Group’s 51% share of the shale section of a joint Petroleum Exploration and Development Licence (PEDL). The remaining 49% is owned by exploration company Dart Energy. No figures were disclosed. The PEDL 133 licence covers 329 square kilometres of the Midland Valley of Scotland, which includes Ineos’ Grangemouth refining and petrochemical complex and the area around it. Gary Haywood, chief executive of Ineos Upstream, said; “We are very pleased to have agreed the purchase of 51% of the shale section of the PEDL 133 licence. Over the last year Ineos Upstream has been drawing together a team of experts in the sector, including a number of leading shale exploration and development specialists from the US. This expertise gives us the perfect platform to move into onshore exploration. “This is a logical next step for Ineos and we are very excited about it. We are one of very few businesses that can use shale gas as both a fuel and a petrochemical feedstock,” he added. “With our large UK asset base, our existing capabilities in operating oil and gas facilities and our exemplary safety and environmental record, Ineos is well placed to become a major player in the UK onshore gas production sector.” As I said on the ALK bb these guys are the business and once it hits wages it hits votes and the costs advs are so great the competition will be very, very threatened and migrate. HTH GL
Just trying to get a grasp of the confidence on this board that Edgon will strike oil at Wressle, followed by Burton? Edr have a pretty good success rate and I hold shares in UJO do in a similar boat for the immediate drills, I'm feeling confident of a strike
Edr Valuation On Striking Oil
Being doing a bit more research but can work out the price if EDR was to hit oil within a couple of weeks and SP if well was good as dry. Thanks
Ineos/US Shale/Euro Dev & UK In..
FYI - Quote Ineos Dev Plans Entrepreneurial thinking... Transforming European business by shipping shale gas from the US - INEOS O&P UK receives infrastructure loan guarantee from UK Government to the value €285m / £230m 17 July 2014 The guarantee allows INEOS to raise the money necessary to build a new terminal to import and store ethane for Grangemouth as North Sea availability declines. The loan guarantee shows support for both the UK petrochemicals sector and for one of the most important infrastructure projects in Scotland. “Without doubt, this is one of the most important infrastructure projects of recent times in Scotland, with implications to be felt right across the UK, not only for employment but also for manufacturing in general,” says Jim Ratcliffe, INEOS Chairman. A contract is now signed with TGE Gas Engineering for the construction at Grangemouth of Europe’s largest ethane storage tank to start. The first order for construction materials is now placed. INEOS Olefins & Polumers UK has today confirmed that it has received notification from Chief Secretary to the Treasury, Rt Hon. Danny Alexander MP that its application for an infrastructure loan guarantee has been successful. This confirmation now allows INEOS to raise the funds necessary to invest in a new terminal import, to store and process ethane from shale gas at its site in Grangemouth, Scotland, as North Sea supplies dwindle. The project protects thousands of jobs in Scotland and across the UK. “Our ability to import US shale gas underpins the future of manufacturing at Grangemouth and across many businesses in Scotland. It is a vital step towards preserving the long term future of the Grangemouth site and those businesses that depend upon its continued presence in Scotland.” INEOS AG has invested more than £300m at its Grangemouth site as part of a long term survival plan necessary for the site to manufacture petrochemicals beyond 2017. The loan guarantee from the UK Government now enables it to raise financing on £230m specifically to cover the import facility and storage tank to be built at the site. Chief Secretary to the Treasury, Rt Hon. Danny Alexander MP said: This is major step forward that ensures the long-term future of petrochemical manufacture at Grangemouth. The ethane tank will be the largest in Europe and is central to the site’s plans to import shale gas from the USA. By 2016 Grangemouth will be a shale gas-based facility, essential if it is to compete in world markets beyond 2017. Ineos have commissioned between 12-15 ships in S Korea to transport Shale!! US to start - UK Next? - . GL - This is happening not conjecture & its unconventional gas..
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