Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Hi MEM,
I agree very much with that idea of a spin-off. The US fields are a massive opportunity (one with which I am not unfamiliar).
Given the hostility towards greenfields exploration in the US, the extraction of more oil (could be 50-70%) from existing operating/dorman/abandoned fields could be nothing short of SPECTACULAR.
I would go further and point out that the madcap Lefties and their yelling and shouting about CO2 sequestration seems to overlook the fact that there are, in many cases, few or no proximate sources of CO2 to the fields. Hence the need for pipelines.
Reality is that there is no need for pipelines (that is Democrat/Communist insanity and can never be commerically viable).
There exists in some cases proximate sources of CO2 (as in T&tT, hence PRD's brilliant positioning).
In the US, there is ample extraction technology to "pull" atmospheric CO2 out of the air (there are at least 10 technologies in that space), so that can provide the supply. What is missing is the "magic sauce" to actually deploy said CO2 to decent effect on EOR - a "sauce", I would suggest PRD would seem to have gotten right.
Without deployment to EOR, pulling CO2 out of the air is close to a pointless exercise - outside of EOR and CCS, there is actually very little demand for the stuff (a little bit goes to carbonated beverages and a bit into the food sector - but about 88% goes to EOR).
So, with adroit use of carbon tax credits and operational expertise in EOR (what, in my view, is PRD's "magic sauce"), the whole commercial landscape of the US oil landscape changes (despite the Democrats/Communists being in charge, the US still needs energy). Somewhere around 50-70% of un-recovered oil suddenly comes back into play in commercial viability terms.
With the applciable carbon tax credits, having on-site CO2 generation immediately adjacent to the fields (especially abandoned or dormant fields - which abound in Oklahoma, for example) changes the game completely.
Provided you have an operator/licensor who knows what they are doing.
Step forward PRD.....
I know that not everybody is of my opinion, and some people want PG to concentrate on just a few area’s of the current business, but I wonder if PG can set up a subsidiary Co, maybe off the back of success at MOU - 1 and let a very small team start to build our CCS/EOR business in the USA, once some momentum builds, it could really accelerate, if we can put a deal together, which we replicate over and over again, with old legacy fields, CCS/EOR, IRS and a client bank.
I shall now climb back in my box :)
Hopefully with a successful Moroccon drill and Trinidad kicking in that is exactly what we can do. At the moment, I imagine PG has his hands full. He did say that in interviews. But when we realise these opportunities we can exploit others.
I am a billion percent behind you with that view. At this stage it may be a couple of bites too big. But we could grow fast here and take some of these opportunities.
Another far sighted Co asking Woods to look at the feasibility of CCS. Remember the IRS payments of $35 per ton for CCS.
SH are starting to demand change, in the US these payments will help accelerate change.
Imagine a really heavy CO2 polluter ex chain of Cement factories, pushing out 1m tons pa, not too far from some old legacy oil fields, a board decision to tackle the problem or face fines, perhaps a new more enlightened CEO wishes to drive change.
CCS/EOR deal, with the icing on the cake of guaranteed US Gov cash, take that to the bank, get a loan at historically low prices and set the wheels in motion.
That is how change will occur.
PRD are set to capture some of this Global market, I for one wishes we set up a North American subsidiary to exploit the massive untapped US market, bringing dirty industry, oil Co and banks together.
Billions upon Billions of USD
Morning all,
I would recommend a read of the Wood group rns this morning,
to include :
"Pre-FEED analysis on a CO2 pipeline network for a carbon capture, transportation and sequestration project connecting a number of locations across North America"
https://www.lse.co.uk/rns/WG./trading-update-for-the-six-months-ended-30-june-21-xr5j2vphqx40l4f.html
GLA
Wacky