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If he can deliver brexit via the vote tomorrow, and hence become certainly re-electable as the country is so relieved he beat the remainer anti democrats in parliament (and activist remainer judges), igas should go up as no other prime minister would be as pro frack, especially not labour or lib dem coalition. It's fortunes are linked to his, I think.
IGas has announced a conventional project update, moving to execution phase of a waterflood project at the existing producing field in Welton, East Midlands. In the process they will convert an existing suspended production well to a water injector which increases field recovery by c. 340Mbbls (2C resource) with a peak incremental production of 120 bopd. With estimated mid-case project economics have an IRR of over 100%and NPV 10 of c.£7.0m. This is a neat and tidy way of adding something to the valuation of the company and should make a modest difference to the upside.
An unusually (?) poor article in yesterdays Sunday’s Times with regard to shale and fraccing, it is certainly not Government policy the last time I checked and it was not very well informed.
The Planning Inspectorate tried to stop a new gas fired plant at Drax due to carbon emissions. BEIS (Leadsom) overruled them. I expect that having "called in" the decision on the Ellesmere port igas development from the PI, for BEIS to decide, that will go the same way. And at last the sell price might be more than 52.0000p, plus or minus 1p max.
Ritzo/Ratzo/Auntie et al, with your great wisdom and vast knowledge, anything you would like to add to the very positive RNS while we are waiting for your predicted 39p to materialise?
Apparently there’s a new and potentially deadly strain of Streptococcal doing the rounds in Essex. Its full name is Group A Streptococcal and it generally becomes fatal when it begins to invade parts of the body that previous strains haven’t been able to.
It’s therefore been labelled as an ‘invasive’ version of Group A Strep and has been given the unfortunate acronym of iGAS!
Given that it’s transmitted by touching and kissing - could this news be an omen or more appropriately the ‘kiss of death’ for this struggling business that’s already in need of life support?
I thought this was going to be 39p by now!!
Cuadrilla apologised today. From their statement:
"We would first like to acknowledge again that we are aware of the concern that this has caused, particularly among residents living close to the site in and around Blackpool. This event lasted for between two and three seconds and was felt by many in the locality. We are sorry for any concern this has caused. We are in the process of visiting local people who have raised concerns about minor damage to their property and will repair any damage that is assessed to have been caused by the seismic events."
In what way would you "frack me good and hard"?
A bit rude!
Auntie please send yr details to me i would love register highly on the richter scale when i frack you good and hard raven you are invited to watch the damage you will enjoy that guesstimate the seismic damage go on you clever clever "SCALE I RECKON 39 WHAT DO YOU THINK ????????
Yeh you're right mate, what a genius, those pesky coalfields are such a pain. To be honest just like everyone i'm sick to death of all the constant disruption, day after day widespread damage to land, houses, roads, railways, engineered structures (bridges, tunnels, dams), utilities (sewers, pipelines, cables) all constantly breaking down because of mining. It's beyond me how we ever survive from one day to the next and as for those civil engineers, builders, planners et al who know absolutely nothing about geology, well, what a bunch of complete numpties.
On the other hand and as someone who grew up in the heart of the Derbyshire/Nottinghamshire coalfields I can't actually recall any major incidents apart from the occasional underpinning or wall ties required to counteract some minor subsidence. And then i can't help thinking about all the immeasurable benefits this country gained from coal and the effect of these benefits on millions of peoples lives. The steam engine and everything that gave us, jobs, steel, whole communities, family security, food on the table, travel opprtunities, everything that went with the Industrial Revolution pretty much relied on coal for something or the other. Decisions should be based upon the simple question ' do the benefits outweigh the disadvantages' and in this respect the benefits of coal most certainly outweighed the disadvantages and sooner or later people are going to wake up to the fact that the benefits of fracking are going to outweigh the disadvantages massively. Considering the current state of things the SP is holding up pretty well!
All IMHO, GLA
Luddites? We are told that fracking was originally developed in the 1860s. And solar photovoltaic technology was developed last century.
So us solar-loving fracking-haters are far from luddites.
Interesting read re Faults
Fault reactivation has been observed at several locations in almost every British coalfield. The movement of faults during mining subsidence has been known for at least 150 years, but the affects and consequences are not widely appreciated by other geologists, engineers, insurers, builders, lawyers and planners. This has lead to widespread damage to land, houses, roads, railways, engineered structures (bridges, tunnels, dams), utilities (sewers, pipelines, cables).
And did anyone actually notice? Take a look at this, the west coast is infested, how much of that was due to fracking and how much caused a problem?
The question we should be asking is 'Do the advantages of fracking outweigh the disadvantages'? If the Luddites had been succesful and if you had been around at the time and succesfully promoted your opposition to mining new coal seams then the Industrail Revolution would have never got off the ground. Once out of the EU our economy is going to need every bit of positive financial input it can muster. I don't think I need say anymore!
Just checked with BGS. The only tremor of 2.0ML or greater within a 10km radius of PNR since records began was at Preese Hall in 2011. Cuadrillas' fracking.
So, in that area, NO naturally occurring tremors of 2.0Ml or greater.
Dear Aunty, if you only ever complained once a decade that would be fine but complaining every time someone sneezes and blaming it on fracking is unacceptable. Furthermore you are never in a million years of fracking going to dwarf the number of naturally occurring tremors, just check out the data. I'm glad you mentioned mining since i live in an area infested with mines and i can tell youi that apart from the occasional subsidence we have survived the entire history of coal mining without any significant problems. It is also worth noting that without mining coal we would never have led the world and gained all the benefits we did from the Industrial Revolution.
None were induced by fracking until this week's. The point is that they are quite rare.
I am not saying it was caused by fracking (although I and most people suspect it was). The Oil & Gas Authority shut down the operations at Preston New Road - not me - so THEY see a link.
You ask: "And while your at it you might like to explain to us why you never complained about the hundreds of naturally occurring tremors and their effects prior to the advent of fracking?" I did - local to me - if they were induced by human activity. e.g one about a decade ago caused by mining a new coal seam.
Re your second question: "why would you get upset at the possibility of one or two being induced by fracking?".
My concern is if we get tremors of this size from fracking one well, we can multiply that by 4000 if, as has been predicted, we have 4000 wells. It dwarfs the 39 naturally occurring ones. Is that not rational thinking?
Auntie Frack, you state 'the BGS database lists 39 tremors at level 6 or more since 1900', that's a 119 year period, pray do tell how many of those were induced by fracking?
Also, how do you know the tremor on Monday was not 'just another natural occurrence' similar to the 39 you have quoted? I suggest you actually check out the Wikipedia link where you will see that tremors well above level 0.5 have been going on ever since records started to be recorded over 300 years ago and with hundreds significantly above level 4. That is not BS it is actual scientifically recorded data so please explain to us all just exactly how you distinguish a tremor induced by fracking from the hundreds that take place each year through natural fault lines. And while your at it you might like to explain to us why you never complained about the hundreds of naturally occurring tremors and their effects prior to the advent of fracking? If you could live all those years with the mass of naturally occurring tremors which took place without complaining why would you get upset at the possibility of one or two being induced by fracking? The answer is you like so many haven't really thought about it rationally have you?
The 2.9ML tremor on Monday has now been classed as Intensity level 6. The BGS database lists 39 tremors at level 6 or more since 1900. The BGS said a level 6 tremor occurred in the UK approximately once every 10 years. The most recent level 6, in 2008, was at Market Rasen, in Lincolnshire. Four church spires were damaged and the bill for damage was £30m.
What a brilliant list on the Wikipedia article. On 19 July 1984 I was staying with a schoolfriend's aunt and uncle in Liverpool and I remember it happening just as I came down for breakfast. The wiki says it was M5. I remember it as slow shaking, not a quick judder, and I thought all earthquakes were like that until late February 2008 when I was staying at Long Sutton, Lincs, and in the small hours was the M5 centred, apparently, on Market Rasen. That one was faster and more juddery, as if the washing machine had started up. Both lasted only seconds and neither was scarry, just interesting. Thus by total coincidence I experienced 2 of the biggest quakes in Britain across my lifetime. Neither of these M5's did any harm that I am aware of, apart from pushing other stories out of the news, though I know that the February 2008 one tripped Immingham CCGT/CHP (vibration sensor). Sutton Bridge CCGT was proud to have not tripped.
On average, several hundred earthquakes are detected by the British Geological Survey each year, but almost all are far too faint to be felt by humans. Having said that a significant amount are greater than the 0.5 magnitude that stops fracking and many are much greater. The records in the link below are not generally understood by your average Joe public who is more likely to be swayed by media headlines and irrational activists than by scientific data and there lies the problem.
As for climate change anyone who has studied Geology and the effect of climate on the formation of rocks from the Pre-Cambrian to the present day will be aware that climate is in a state of constant flux and always has been. Again, don't expect your average Joe public to understand that since his attention span is generally limited to the contents of page 3 so he is more likely to support the BS put out by organisations and individuals with suspect motives.
One wonders why the decimation of the rain forests and forests in general, just look at the deforestation in the UK over the past 500 years, isn't given as much attention as is directed at the reduction in carbon emissions?
Let's hope common sense finds a way through the BS but if it doesn't then hey ho just suck it up and move on.
Be aware that drilling holes and then fracking them for geothermal energy is entirely outwith the rules and regs for fracking with a view to oil and gas extraction, and even if microseismicity is triggered they needn't stop. I am not suggesting that any fracking for geothermal energy is in place in Cornwall at present, it is just a very interesting discrepancy in the regulations. Geothermal energy is favoured by environmentalists so it gets a "let" from activists for any any small earthquakes during the frack phase, and they are not used to beat it up and make them stop.
Can we all be positive, please?
I've never met anyone that denies the climate changes.
I have met plenty of global warming loons who constantly have to move the goalposts on whats happening globally to continue their diatribe though but haven't we all.
Think its a shame myself. if we weren't wasting all our time worrying about the plant growth enhancer CO2 we'd have had more time to deal with real issues such as the plastics in the ocean.
Just hope its not too late before we do.
But the facts remain. A bit like climate change deniers.
Kkr wants the control of the conventional assets. The company has a horrendous track record of delivery. Shale bonanza didnt happen.
My theory is a break up here. Thats what I say