Then I suggest you check the DECC website. And no I am not Ian, whoever Ian is! My point is quite simple which is simply that you shouldn't get carried away with the equity NPV of this thing! You clearly don't know how to value a security if you think this is worth some of the more outlandish valuations. The uncertainty is huge and the discount rate you need to accordingly apply is similarly huge as is the timescale. So by the time you discount back £500m of value at 25% over 10 years it is certainly worth something but not as much as some people think. Now I think it is worth something and others might apply a much lower rate and value the terminal value at £gazillions and that is the point at which anyone sensible sells! That is why, as a holder, I'm realistic about the value of this. If IGas elects to do the E&P itself then it will need to raise huge amounts of capital. In partnership it will give away a lot of value as others will apply the discount rates and terminal values as described above. There is plenty of land available, IGas doesn't have a monopoly on that or "drilling brilliance" so there will be intense competition if it gets going at all. So overall, and excuse the waffle, there may be value but it is a complete punt!!
You are getting idiotic now. Substrata assets have always belonged to the Crown and by extension to what every government are in power, be they Tory or Labour. Your rights go down to a few feet beneath your lowest foundations . You do now own right down to the core of the planet. It follows that any one drilling with official permission of the crown cannot commit trespass, because you do not own it. Their only obligations are to not interfere with the quiet enjoyment of your property, or create dangers . A drill going along 5000 ft below your property is unlikely to disturb your quiet enjoyment, or cause any surface danger to you, or your property. I don't know where this silly idea of trespass comes from, I suspect it is a Red Herring thrown out by Greenpeace. Finally I know of no national survey which has concluded that only 20% are in favour of fracking, sounds like another Greenpeace Red Herring. There has never been any such survey. I am beginning to suspect that you are none other, than Ian, who was lambasting all and sundry with warnings about poisoning everybody and contaminating the drinking water. He suddenly went off line about three weeks ago and the forum bit back. Since then you have appeared, I suggest that you are one and the same person ?
Bizarre comment. Fracking has a 20% acceptance rate in the UK so clearly people don't like it and when the Tories change the "rules" under the guise of geothermal, to facilitate trespass, people will like it even less. What I am saying is the same rules that apply to fracking apply to wind or housing so unless there is a drastic (and I mean drastic) change in planning law then these things will take years and years to consent. I say again Europa Oil and Gas have been trying for 7 years to get an exploration well at Coldharbour which only now is getting to the Court of Appeal. Do you think it'll be any different for IGas at al, absent as I say a huge change in planning? Answer - no! So I'm a realist. I think there will be a few wells and they will find the stuff but as for 20% of UK gas etc - rubbish.
I can't see the connection between wind farms and Igas. The latter do not seem to be building wind farms, so they are unlikely to put one, in anybody's garden. Probably the majority of people living in the UK have some kind of industry, at least within a mile, but many within your 400 yards limit. Anyway, it boils down purely to your personal preference and seems nothing to do with the exploits of iGas . What you do not want is them taking shale gas out of the ground anywhere near you....Such an attitude is not going to find much favour with others I am afraid !
20% of igas is owned by Nexen, a Canadian company who in turn are, I think, owned by the Chinese govt oil company. I think they will be clever enough to see it as a long term play, they certainly won't need the money! Another 20% or so is owned by three members of the board of Igas, so it wouldn't be easy to achieve a takeover without the board's support. Andrew Austin said a while back that he wouldn't consider a buy-in until the results of exploration are known. Austin is a city finance man by background and won't sell until the true value of the Igas assets has been established. But I do wonder how he is going to finance the companies expansion plans.
I am concerned as to why the Big Boys have not seen the future potential in Shale Gas exploration, only Total have so far shown their cards, Are they all waiting to pounce & takeover either Igas or Egdon , then cash in on the obvious. Something is happening, can anyone tell me what?
Xenophobes. You can see a wind turbine, and anyone with the least bit of technical knowledge understands that it's turning a generator (assuming it's working, of course). What is not generally realised is how energy-and- economically-inefficient they are, and the 'carbon footprint' entailed by their manufacture, transportation, erection, and maintenence.
Oil and gas well drilling is a mystery largely misunderstood (if understood at all) by 95 percent of the population, and fraccing technology by 99.9 percent, who wouldn't recognise a frac truck if it drove into their front garden. Remember the ninnies at Balcombe who held up a vacuum truck which was going to empty the septic tank of someone living in the village?
Having a drilling rig in my back field would liven the place up and provide a boost to the local economy: shops, restaurants, hotels, and so on. Unfortunately if it's only an exploratory well, the rig will then move on, and just like when the circus leaves town, people miss its presence. When the frac fleet comes in they're happy again, though that's going to move on, as well. I speak from experience of these things.
N.Sea oil? Oh yeah, that's great. Over the horizon and out of sight. Bring it closer to home and people complain. With 36 years career in the drilling industry under my belt I find modern rigs built to be used in populous areas disturbingly and unnaturally quiet!
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