Going back to pick more passengers just looking back a bit at the moment. looking at some of the recent years work, may help newer inverstors (ie moi) understand more about the potential DOE GREEN:-
IGas Energy, a domestic gas producer and leading developer of resources in the UK, has announced that construction of its third well at Doe Green (DG-3) has begun, starting the Company's accelerated programme to convert its resources into reserves and bring commercial production onstream.
IGas Energy has also announced that it has signed a second drilling contract. The BDF Rig 28 has been secured for a four well programme, beginning at DG3 as mentioned above. This well is expected to spud in mid-July. BDF, and its Boldon Drilling and BB Drilling divisions, is the UK's largest onshore drilling contractor and has carried out Coal Bed Methane (CBM) drilling not only in the UK but also in Belgium and Spain.
The Doe Green site located between Warrington and Widnes has been steadily producing gas and generating electricity for over two years from a pilot well DG-2.
DG-3 will be the first well drilled under the accelerated drilling programme announced with IGas's final results in May this year and will involve drilling one lateral well and subsequent branches off that lateral well into a different seam to the existing producing well at DG-2. Site construction works have begun and two cellars have been constructed and the conductors are in the process of being set. Production facilities to deal with the anticipated increased production from the site are in the process of being upgraded
Andrew Austin CEO said 'This is the first of a multi well programme over the next nine months and marks the start of a step change in activity for IGas Energy. We have had excellent results from our pilot site at Doe Green and look forward to drilling beginning soon at DG-3. We are working with BDF again, a rig and crew that we have worked successfully within the past and know well.'
IGas looking ahead to the 'exciting' opportunities in unconventional oil & gas
By Jeremy Naylor November 14 2013, 3:44pm
Andrew Austin, CEO of IGas (LON:IGAS), tells Proactiveinvestors that the company is a big part of the UK's move into unconventional oil and gas, helping to release the big untapped resources that could cut Britain's import dependency by 50%. Andrew talks about the 'significant' opportunities to grow the company's existing conventional oil and gas business alongside the exciting potential of the unconventional business.
Just a note that Malcolm Graham Wood, the VSA energy consultant, interviewed in the video linked yesterday, suggested thatI Igas was a. 250p a share company. I presume that's from someone who is at least paid to predict these things.
What I take from the interview is firstly the new greater emphasis on the prospects for shale OIL as well as shale gas in the future. He went out of his way to include oil in his future predictions in a way I haven't heard before. Taken together with the Bgs/Decc evidence to the House of Lords and the tantalising admission by Cuadrilla that they have found "hydrocarbons" in the Balcombe core, this adds again to my belief ( or more accurately wild speculation) that significant onshore shale oil discoveries are on the cards. Secondly he went out of his way to note that surrounding areas to his licences have had significant inward investment, I think there was a less than veiled hint that big companies are looking for a piece of his action. He has said in the past that he wants the results of the two new exploration wells to be known before considering a buy-in but who knows? On a less positive note he said spudding the new wells will take place before Xmas which is later than I'd thought - maybe be wants the protesters to be distracted by the festive season!
Datafeed and UK data supplied by NETbuilder and Interactive Data.
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.