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Hi Mick, agree the 2 approachas could be complimentary. Might work well for Trinidad, Barbados and even Venezuela/Cuba, but us sanctions would likely stop those 2.
Hi Nic,
I’d be very afraid if someone filled my microwave with natural gas and switched it on :) I was thinking more for use in T&T, with their fiddly little wells and tricky geology.
Do you like Marmite? If you have some to hand, take the lid off and put the jar in a microwave for 30 secs on full power. That’s the desired effect. (The jar will be hot!)
Considering the state of the o&g industry in T&T, I think the govt would give PG the keys to the islands if he could deliver anything like the 65% RF claimed by the inventor of Turboshale.
Mick
Nic, did the clean underpants comment not give you a clue.
Thanks Mick, as you know the business could please you confirm either way whether CO2 EOR could be used for gas? I'm pretty sure it can't but have read posters on here in the past saying it can. Probably just wishful thinking on their behalf.
I'm finding this possibility of another string to our EOR bow with RF EOR very exciting. Gas aside, oil is still going to be needed for years. I'm enamoured by the idea of EOR, not just for safe disposal of CO2 but to prevent the need for fresh drilling. I'm a Green at heart, which may seem a little hypocritical but I'm a pragmatic capitalist as well.
Watching the combined forces of eco warriors, fisherman, tour operators,lawyers, journalists etc lining up to fight BPC recently, and UKOG problems in Surrey and IoW tells me EOR is about to explode. Fresh drilling has no long term future in the West.
Mick - I agree, there is sizable potential in CO2 EOR business but feel it's more on contract scaling side, as we might have to value it as a service model business segment. Reading older PRD RNS' I recall there was mention of potential revenues that could be coming in from the EOR segment but recently couldn't find any reference to potential revenues from the segment neither in recent interviews nor in RNSs unless I missed something? Did references to revenues from trin segment always meant service fees/profit sharing?
Not sure how, even landing a big EOR contract might help us unless it's a financially significant contract along with scalable follow on opportunities ? News about Masseys tie up with PRD for the pilot didn't seem to have much effect on PRDs market value back when it was announced I think? I guess having a unique IP based EOR technology might be more valuable than a licensed generic EOR model? Of course, proof will be in the contract details whether it's significant or not.
All IMO and could be wrong so always dyor
Hi Tim,
As you can see, I have done my research and when put into context there might be something in it.
Only a few weeks back, PG told us about the possibility of investing in technologies which could help us out.
TomCo have EOR technologies which are at a similar stage of development as our EOR CCS but they need finance; their market cap is £7m. Lo and behold, our non-exec with expertise in finance rocks up there today.
As you say, there might be nothing in it. Time will tell.
Mick
I know that some on here at the moment disapprove of conjecture, but imagine using TomCo to get a foot in the door in Alberta and then grabbing a slice of thepotential CCS market there:
calgaryherald.com/opinion/columnists/varcoe-alberta-shoots-for-moon-with-no-brainier-30b-pitch-to-Ottawa-for-carbon-capture
Mick
Hi Nic,
I think you’d need clean underpants on if you were going to use it for gas extraction :)
It’s another form of EOR which uses the heating effect of radio waves to decrease the viscosity of heavy oil, much like putting the heavy oil in a microwave oven.
The heating process causes localised fracking which Tomco say is controlled. They also state that the process is ‘environmentally benign.’ The process does not use external water or solvents.
I’ve just checked the Turboshale patents on Google Patents and there are quite a few applications. Interestingly for us, it can be used inside a heavy oil well :) A 65% recovery factor is quoted but that’s got to be theoretical.
Mick
Mick - don't think so as he is also involved in mining.
"Mr Castro is currently Executive Chairman of Orosur Mining Inc., and Non-Executive Director of The Stanley Gibbons Group plc, Tekcapital plc and Predator Oil & Gas Holdings plc."
All IMO and could be wrong so always dyor
Nice one Mick, that would indeed be a very eco friendly way of exploiting a resource without fracking, any idea if it can be used for gas as well as oil?
My thinking is that the EU need gas as the transition fuel but reckon there will be a thick red line drawn in regards to fracked gas, maybe (hopefully) the whole bloc. What has become apparent is that the rest of the world are more into paying environmental lip service, e.g the Japan, India, China, S.Korea don't really give a toss otherwise they wouldn't be buying so.much US LNG.
Possible technology investment mentioned by PG when the placing was announced?
Luis Castro has been appointed non-exec director:
lse.co.uk/rns/TOM/appointment-of-non-executive-director-3ez4r6ptr817a4u
TomCo’s Turboshale technology enables users to extract oil from shale beds by conventional means using RF technology:
tomcoenergy.com/our-technology/turboshale/
Being an RF engineer by trade, I find this an interesting/ exciting development