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I find it confusing and a bit odd:
1) "Oslo-listed operator DNO acquired the Schooner and Ketch assets as part of its £641.7 million buyout of Faroe Petroleum in January last year" that was 2019. https://www.energyvoice.com/oilandgas/north-sea/274357/aberdeen-based-energy-services-group-awarded-multi-million-pound-north-sea-duty-holder-contract/
With what seemed ti be a controversial deal https://www.energyvoice.com/oilandgas/north-sea/190353/faroe-petroleum-concedes-defeat-in-takeover-battle-with-dno/
2) Quick turnround: In 2020 HNL gets the Shooner https://www.offshore-energy.biz/halo-acquires-schooner-field-for-reactivation-platform-not-part-of-the-deal/
3) Three60, gets its first Duty Holder: “We are delighted to have been selected by DNO to provide this Duty Holder service for its two UK assets. This is a strategic milestone for us as it’s our first Duty Holder appointment in the UKCS" https://www.energyvoice.com/oilandgas/north-sea/274357/aberdeen-based-energy-services-group-awarded-multi-million-pound-north-sea-duty-holder-contract/
"We are excited to be scoping, delivering and maturing a number of additional CCS scopes with our clients, alongside opportunities in decommissioning..." https://three60energy.com/industry-insights-taking-care-of-co2-three60-energy-delivers-integrated-solutions-for-ccs-developments/
Nick Cooper doesn't seem too happy about the Government approach of the 2 leagues projects.
Not a good sign when disappointments start to rise about this kind of projects in my view: strapped for cash before start.
Storegga can't be put at the same level of Northern Endurance.
The league 2 projects (DelpHYnus, Acorn) are basically been put on hold for 5/10 years. ....and then what?
I think all the sites need to work, the ACORN CCS potentially has better sites to put more CO2 away once pipelines start to be freed up. The Tertiary aquifer of the NNS is bigger than all the SNS saline ones, and much better quality.
Not sure about direct air capture, sure it'll get some CO2 out at massive energy cost
But why site it in the Aberdeenshire countryside, our fields need the CO2 to grow Rye and grass for our biodigesters.
I would combine DAC with other benefits.
Remove particulate pollution from the air at the same time. Siting DAC at Port Talbot, Bristol M4/M5 junction/ Heathrow would be better ?
The most polluted place in London ? The Underground. Why not site a DAC at the downstream of the ventilation fans ?
Ghost with all respect, the same for you, hence one of my previous messages about the tone, having said that doesn't change my mind.
Order Are you invested in here?
I am, and I totally understand the administration, the Tullow's assets gone to the drain, etc.....etc....that belongs to the horrible past.
The Shooner is the present and future, nothing else left.
I'm also saying that INMHO, stating that the Shooner is worthless because there's not money to develop it, is highly deceiving because I've found you a link that proves that somebody else is fully developing the asset within the Northern Endurance Partnership.
Also ws, has found a link that proves that we still owe 100% of it.
I'm here to see the full value of that asset, whatever that means: wait another 2/4 years or reject a low ball offer.
This isn't a bone to be given to the dogs!
I remember somebody here mentioning Nick Cooper as highly successful with his Scottish carbon storage project compared to Cochran: I'd rather be in the Northern Endurance than a second class project as already labelled by the Government.
Anto, you say you are actively on this board. But doing what, exactly, to help extract any semblance of residual value in HNL via Schooner? Seems to me it's just more **** and wind from someone who doesn't still get it about the administration metrics here. There ain't any money left. Cochrane has done a runner. Get it?
By all means carry on if it makes you happy.
This kind of messages confirm how dodgy you are IMHO.
We are simply researching the progress of the Shooner, our last and only asset which has made it right to the Northern Endurance, and you want us to keep it quiet, saying that isn't true. WHY DON'T YOU WANT ANY RESEARCH RELATED TO THE SHOONER ,CCS, POSTED HERE?
Surely, if it is going to be true, your investment will benefit!
You said that isn't right because it gives false explanations.
What False explanations if:
1) those are facts backed by documents.
2) the share has been suspended for 5 F.KING years!
Better foolish than dodgy.
Absolute madness. This is a total **** show and the discussions here are pointless. Our wonderful ex interim CEO hasn't ushered a word to explain anything since his kind Xmas Eve parting message and he doesn't intend to because he's done a runner with our money and he doesn't give a damn.
I don't know what antofelli smokes but it looks like you're secondarily inhaling.
anto dug out a very useful reference .....
Anyway - have fun chatting to yourself. If wellsite is foolish enough to keep entertaining this nonsense (surprised), then it's up to him.
Like the "upstream" and the "beyond upstream": the first one will never get the second one.
Anto, if I could ever work out what you're saying it would be a start.
I wouldn't call it written off. More like stolen.
Ghost WTF, what kind of discussions have you ever initiated?
The legal action? The Red Rio? Do you remember?
You said: "I've dealt with it thanks." How have you dealt with your investment which if I remember rightly is 10 times bigger than mine ?....have you written it off?
I haven't that's why I'm actively in this board and hoping in the 100% Shooner part of the NE.
You, clearly, don't think the Shooner is worth 1/2 penny, as you stated several times. So, have you written off your initial investment? How much was it, if you don't mind?
"I honestly don't know the answer to that question."
What an absurd and pointless discussion all this is then. So what if HALO Offshore UK Limited have 100% of Schooner? The parent company is in administration and it is in the process of being struck off.
HALO cannot fund any part of this initiative and anyone connected knows this and will use it to their full advantage to get hold of Schooner (if it is indeed as potentially lucrative as it might be).
To suggest Schooner becomes something and that we as mere ordinary shareholders will benefit from it, is just farcical.
Also IF the gas is going to be used to make hydrogen and the same wells are functioning as carbon storage...valuation gets more complex.
No doubts that the MKT for ccs is brand new:
No MKT parameters/coefficients to apply on what could be a very well known well capacity.
Northern Endurance has already a fat portfolio of big industrial emitters ready to pay for their emissions "for the sake" of having a green Carbon footprint. Feed in tariff formula. Some big names out there in the Humber region. Also are/will be some emissions from the smoky london directed into the Northern Endurance ccs field?
The unknown is how much to charge?
If the cost structure is the starting point, that will be fully known once all the infostructure from the emitters to the Carbon Storage well, is in place. How long is that going to take? Well the first injection is planned for 2027 and no doubts it's costing billions.
Not much out there in terms evaluations theories, cost/benefits of these new carbon storage sites.
CCS is bloody simple. The amount of CO2 you can get in is equal to (in reservoir conditions)
Aquifer water volume x pressure increase x (compressibility rock+ compressibility of water)
Pressure increase usually limited to fracture gradient. However, the rock will experience thermally induced fractures (CO2 is cold) at lower than formation fracture gradient. Throw in a bit of mineralization and dissolution to make in immobile, job done. Don't know what all the fuss is about myself
"excellent find. The three things that stick out are
1/ No mention of HALO holding production licence
2/Brine disposal into depleted gas fields mentioned
3/ Timing of report - six months before administration
Any redevelopment of Schooner throws a big banner in the works....so your theory that the Schooner production licence has been effectively sold to NE is plausible.
So how much is this worth to the NE £5,10,25/50/75/100 M
Was that sarcasm or bipolar?
ccs fields work opposite way of gas fields: it's not about how much gas you can get out (that's the upstream), but how much Carbon Dioxide can get stored in (beyond the upstream).
it is worth noting that CS007 purposefully includes the Boulton field. Operated by Harbour, like us, not mentioned in Endurance spiel. Boulton was doing double what Schooner was when closed (20 MMSCFD vs 10 MMSCFD).
I honestly don't know the answer to that question.
What I know is that the Shooner is part of the Northern Endurance, and like you pointed out we still have 100% of its ownership.
It's like: our only last assets has moved on and it's now with the big boys of the N.E. while we're stuck with the administration.
Surely, not long now, to find out the outcome of our investment which has now, unfortunately, turned into a mere binary bet (thanks to Cochran, of course).
The only value I'll get from all this now, is an indication that Cochran is suffering in some form. Thieving bastard.
not for the first time, I assure you
humour me - how will you, me, and ghost get the value from Schooner ? Why can't we know the value now ?
In this occasion you are also talking nonsense: haven't you read the notice that the Administrators put on the first page of the website? They are dealing now with hnl, not Cochran. Get it right.
Ghost until you are here, the show is guaranteed.
Cochran has lost us all money. You are inferring he's made us money.
As the Schooner is out with control of the administrators, why can't he update us all now ? I am obviously missing something.
I'm only here for the entertainment now.