The planning application for Wressle production forecasts 40 truck movements a week. A tanker holds 210 barrels of oil and I assume that 40 refers to 20 in and 20 out so 4200 barrels a week or 600 a day. 200 a day to EOG then which equates to roughly £2.7m a year gross at todays Oil price.
@crushcutfluor: I'm referring to the "very near term deal" that Hugh talks about regarding the Irish farm out in his latest interview. That combined with a previous comment that we have a 80% chance of hitting 20p, or was it a graph! IMHO
I don't think this is true. It will take a few years to bring the Irish oil into production; looking at the current price is of little use as the price will be very different by 2020 the earliest Irish oil can be productionised. By 2020 the oil price is predicted to be much higher for two reasons i) increase in world consumption, (year on year), ii) the decrease in capital spending on new fields, leading to a shortage of supply, (existing fields will also become less productive over time). IMHO
Just reminded of something I was looking at the weekend. The actual current price of oil is of course a concern to all Oil companies and may well limit exploration but most importantly it has a limiting effect on the development of discoveries into production because that is where the big bucks are needed.
On the other hand though the oil price is of a lesser concern to the big boys who must find a way to replace their underground assets. Statoil for instance produce 2 million barrels of… Read More
I have no doubt that the surveys carried out in the past were so nieve compared with today's technology and computing analysis. My concerns is that offshore oil is dead at this time. The price of oil doesn't support this type of exploration. It clearly needs a partner and ones with cash on account are very rare at this time. If the oil price goes up $20 it might be the right time. I feel that Holmwood should be the curent focus. But again they might just find the cash flow for the other… Read More
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.