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PIS200306,
I suggest you check DCCAE documentation and you might, with your limited intelligence and inability to do research find out where that information is located.
Now I know if I can find it, it does not follow that you with your limited intellect can also find it.
It is written in black and white or perhaps you know better but I doubt it.
They have to comply with the Minister and so does he.
Other than living in cloud cuckoo land where do you reside? If in Ireland, then shame on you for not knowing the facts about the laws covering oil and gas when you talk out of your a**e about it. And whereas I suspect you live, in some banana republic or Asian state, India, Bangladesh or even Thailand perhaps, you would realise there is as much clout on the PVR side as there is in DCCAE.
Of course, you could also be one of those Nigerian "chancers" we hear so much about who goes around trying to "dupe" people, very much along the lines of what you try, and happily, fails to do or are you in Thailand chasing skirt?
The law states that if Ireland does not want the oil and gas it can be off-shipped wherever Providence wants it and can sell it for a commercial profit. And even if Ireland wants it but Providence can get a better price for it elsewhere it is entitled to off-carry it or pipe it.
And, by the way, I bet you did not know that Ireland "exports" gas to the UK. Now where does it get that gas from and how does it "export" it?
But the "generosity" of the Irish oil and gas exploration licenses came about when Pat Rabbitte was Minister of Communications and Energy.
Pat was minister for the oil and gas and to attract companies to come here to explore, he nearly gave away the baby with the bathwater.
The rules he drew up were so in favour of the oil explorers in a bid to get them to come that he created the biggest "Irish oil and gas gift", which still exists in law today that you can run a coach and horses through it if you were in for the kill and the Minister did not play ball with you.
That is why none of the biggies, Petronas, Woodside, CNOOC, etc.. have left Ireland and I suspect we may find in the near future that Providence possibly merges with my favourite, Woodside. Now wouldn't that stick in your gullet?
That is the hope for Providence too, raise the funds, merge with a bigger player, sell EXOLA to a "bigger"player such as Petronas, Woodside or even CNOOC and concentrate on the other areas of the Celtic Sea they own as separate plays. After all Hook Head was once reputed to hold 140mmbbls, not an insignificant amount per se.
If any of those was to happen what a proper fool you will look. Let us refine that by saying "What an even bigger fool " you will look. But, after all, we already know what a fool you really are.
Have you read the law? I note you posted and item from one of Ireland's laws which proves you have been scrambling around to find out what I am talking about. Otherwise, why would you have been looking up Irish law? So, f**l, you obviously did not find it.
Keep looking and join pis200306, who is also not adverse to a bit of internet "wheeze" as he thinks it is.
So, So, I think that video applies more to you than to me. I hope your straight jacket is not too tight. Does it get itchy between your legs?
Manyana: "Providence and Woodside are the only two companies in Ireland who can check for oil and gas in any area that is not covered by a license. That means Providence can actually search for oil and gas between the boundaries of Barryroe, Helvick, Hook Head and Dunmore if they should so want."
What sort of drugs are you on? Nobody can explore without an exploration license. And no new ones are being issued.
Manyana: "In fact, Providence are pretty well convinced Barryroe stretches into to KEL section beside Barryroe and they had an agreement to survey it in partnership with KEL but now KEL is for the birds they can do it themselves when KEL vanishes off the scene or else they can resurrect the agreement."
More delusions. The three year option on OPL1 ran from December 2015 to end of 2018. To exercise it and gain a 60% equity share, Providence would have had to drill a well at their own expense and then get DCCAE approval for the equity transfer. They announced in the 2018 end of year report that the option had not been exercised. There is nothing to resurrect.
The****,
Have you ever read the legislation covering the law of Ireland regarding gas and oil exploration?
I am not going to educate you but there is one thing you do not know and that is Providence and Woodside are the only two companies in Ireland who can check for oil and gas in any area that is not covered by a license. That means Providence can actually search for oil and gas between the boundaries of Barryroe, Helvick, Hook Head and Dunmore if they should so want.
Multiple wells were drilled in that area years ago by Marathon and while the prognosis was "no find" the technology and the seismic for the 1970 is so poor compared to today that the chances are they missed numerous finds.
In fact, Providence are pretty well convinced Barryroe stretches into to KEL section beside Barryroe and they had an agreement to survey it in partnership with KEL but now KEL is for the birds they can do it themselves when KEL vanishes off the scene or else they can resurrect the agreement.
That is actually written into law, so what is all this "sh*t" about there being no license? They have asked for extensions to Dunmore, Hook Head as well as Barryroe and those are still being "reviewed" because Ryan cannot refuse them except long-finger them, in the meantime, nobody can take away the license for Barryroe.
So, shi*head, check your facts and stop blowing your little brain with things you know f/a about.
And as for you and that other mother-f. who thinks he knows all, I proposed a totally legal solution to Barryroe oil and gas if the Irish economy does not want it which is "Sell it to somebody else" and off-carry it either using LNG, Tankers or pipelines.
Simple proposal. If an MOU was legal in 2011 it is just as legal today. All Providence has to do is to "sell" it to somebody resident in Ireland who can then send it anywhere in the world. The "sell it to somebody in Ireland is to guarantee that the profits are paid as Irish tax but since there is so much debt in Barryroe that will never become an issue for years, if ever, like Corrib where not a penny tax has been paid since it started pumping gas in 2015 and have charged the Irish Government billions in the interim on the gas they have "sold" them.
So. you two nutheads, get your brains out of your rear ends and check the law and perhaps you might just learn a thing or two as to why Barryroe is a goldmine that somebody will exploit, either Ireland, China (CNNOC have a presence in Ireland and could easily do it, et al.) and send it back to China. Alternatively, Woodside are on the lookout and could also be the beneficiary.
In fact, Petronas, owner of KEL, would be an ideal partner and I am sure Linn is negotiating with them anyway regarding the use of the Kinsale infrastructure that they will either have to decommission or will have to get somebody, at a huge price, to take on as they are forced to pay for the decommissioning.
So who is going to have the last laugh - we or
Good Morning Shen,
I hope you are well today.
Unlike you, "I am not young enough to know everything " Oscar Wilde.
Your fascination with anything to do with excrement indicates what a sick person you are TheShen.
Manyana: "Your distance from Cork to Milford Haven is wrong"
I didn't provide any distance from Cork to Milford Haven.
Manyana: "as is your length from "K" to Milford Haven is wrong"
Given that you think Barryroe is the same distance from Milford Haven as it is from Cork, you don't have much of a leg to stand on.
Manyana: "and what is even worse your costings of the pipeline are off the trees."
Again, completely moot since you think Milford Haven is four times closer than it actually is.
PS200306,
I didn't have to dig too deep in your sh*te to show you are wrong .
Your distance from Cork to Milford Haven is wrong as is your length from "K" to Milford Haven is wrong and what is even worse your costings of the pipeline are off the trees.
For comparison, let us look at the Moffatt to Loughshinny pipeline which was completed in 1993 when £100 then equated to £200 today and oil costs were far higher than they are today when steel piping cost a fortune whereas plastic piping now is a fraction of the cost and needs far less handling.
"The pipeline consisted of three parts: a 30 inch onshore pipeline 80km long from a compressor station at Moffat to another compressor station at Brighouse Bay on the Scottish coast; a 24 inch undersea pipeline 208 km long from Brighouse Bay to Loughshinny on the Irish coast, not far north of Dublin; and a 30 inch onshore pipeline, 8km in length, from Loughshinny to Ballough". A total of 296km far longer even than your estimate of Cork to Milford Haven and certainly longer even than your "K" to Milford Haven.
And how much did two compressor stations and 296km of pipeline cost? £91.292m which at today's money equates to say €200m.
And the materials were far more expensive if you used steel rather than the current plastic piping. The latest standard is: "ISO 14692 – Petroleum and Natural gas industries – Glass Reinforced plastic" which is a fraction of the cost of steel pipe that has to be specially threated inside and outside to be non-corrosive for 50 years. Plastic is far lighter and far cheaper and far more durable.
Now Barryroe is said tobe able to produce 70,000 bbls a day at say $75 giving a profit of $50 ($25 cost of production) equates to $3.5m profit a day. With the gas being processed as LNG with off-carry that is bunce of say $500k a day giving a total profit of $4m a day how long do you think it would take them to pay off the pipeline, especially now using polymers which make it far cheaper than steel?
And this, of course, would only start in say year three after off carry has built up a good cash equity base in the first two years.
So my premise that linking Barryroe, Hook Head and Dunmore to Milford Haven or anywhere or to anybody who would buy the gas and oil is a totally feasible proposition and was actually a good idea by O'Reilly except he failed to do the first part which was to get some gas and oil out of the ground.
So get your knick*rs out of a twist and think straight. Why would Shell have even considered this MOU if it was not feasible?
Manyana: "Thanks for scrambling around in the dung to try and prove my statements wrong but you failed. "
Also Manyana: "a pipeline from Barryroe and Hook Head to Milford Haven is about the same length as Barryroe to Cork".
LOL.
ps200306,
Thanks for scrambling around in the dung to try and prove my statements wrong but you failed. And if you have more definitive information please tell us where you got it. I am sure you scrambled around in the internet but failed to come up with anything conclusive.
So, Minni-Me Shen you are fudging as usual. What authority do you have to claim your facts are right? As usual your foggy brain cannot distinguish "the wood from the trees", as they say. You totally avoid the point that the oli and gas from Barryroe does not have to end up being used in Ireland. It can just as easily be sold anywhere where gas and oil are traded.
So, considering your fudge which shows your lack of intelligence, my contention was that the oil and gas from Barryroe does not have to be a resource for Ireland. If Ireland does not want it there are plenty of players who will take the gas and turn it into LNG in situ and also off-ship the oil to anywhere around the world for best price as per O'Reilly's MOU which is just as valid today as it was in 2011.
So, instead of letting the moths in your brain fly around in circles deluding you just stick to the fact; Is a floating LNG and a tanker offload also a potentially viable solution for Barryroe oil?
The answer is a resounding "YES" as the same process is done in hundreds of places around the world. Would you like me to supply you with a list?
So if the oil and gas from Barryroe cannot be viable which means Shell were totally wrong in 2011 so are they still wrong or is an off-carry viable now just as then?
I bet you do not answer like your big "sister" - the pair of you would make great actors in a rendition of Cinderella. In fact, I came across a small video of you pair, but I am not sure which is which. Can you tell us?
https://www.youtube.com/watch?v=2mFTCUWthZM
Manyana: "And you are wrong, p*s200306, Milford Haven is 146 miles directly from Cork. That is about 230km. Where did you get your facts from?"
??? I said the distance was a little over 230 km (and I measured it to Barryroe itself, not Cork). Manyana seems to be having a problem comparing 230 km to 230 km. What's more he seems to have forgotten he claimed Milford Haven was as close to Barryroe as Cork (the latter distance actually being 49 km).
"Furthermore, who said the pipeline would have to run from "K"? When you link Barryroe to Hook Head and Dunmore. How long is a pipeline from Dunmore to Milford Haven? Far less than the 150KM used by Kinsale."
What're you connecting B'roe to Dunmore with ... rubber bands?
Manyana: "The average inflation-adjusted industry publication pipeline cost average $3.1 million/mi ($1.9 million/km)."
That's in the US, in a mature province, and averaged over 1995 to 2014. Check out cost for things like Nord Stream and related.
Manyana: "Today’s supertankers, on the average, can hold 2 million barrels of oil. so if a supertanker was used to off-take in Barryroe at 10,000 barrels a day how long would it take to fill it? 200 days. I've done the maths for you because I know both of you are thick."
Eh, WRONG. 2 mbbl is not an "average", it's the maximum. There's one bigger class of ship, the ULCC, but there's only two of them in the world. The BREAK EVEN lease cost for a 2 mbbl VLCC is $35,000/day. And you're going to have one lying around for 200 days doing nothing? That's $3.50 for every barrel of oil at COST price, so actually probably double that. Are you trying to squander your profit margin?
Tip for you: if you want to sound clever you'll need more than a bit of random Googling.
First of all, MOA was not my idea. Shell and O'Reilly agreed an MOA in 2011. Were they right to consider it? Of course, but O'Reilly was too greedy to put it into practice and Shell were pi**sed off with Corrib..
"Kinsale Energy operates a network of approximately 150 kms of subsea pipeline to Cork." fact.
And you are wrong, p*s200306, Milford Haven is 146 miles directly from Cork. That is about 230km. Where did you get your facts from?
Furthermore, who said the pipeline would have to run from "K"? When you link Barryroe to Hook Head and Dunmore. How long is a pipeline from Dunmore to Milford Haven? Far less than the 150KM used by Kinsale.
https://www.lansdowneoilandgas.com/operations/barryroe-licence-111/
And where did you get your cost per km? Quote: "The average inflation-adjusted industry publication pipeline cost average $3.1 million/mi ($1.9 million/km).". And with new technology such as thermoplastics that price drops like a stone because thermoplastics are lightweight and it do not corrode.
https://www.nsenergybusiness.com/features/thermoplastic-pipes-oil-gas/
And O'Reilly, when he signed the MOA with Shell never envisaged a pipeline to start with. He and Shell were going to off-take the oil and gas and its first destination was Milford Haven. And that was ten years ago. What has the technology done in the meantime? With LNG production technology now, it is a new dimension and with oil off-take, how many tankers do you think cruise the world constantly waiting for the best price.? For sometimes months.
With England is also running out of oil and gas as the North Sea dwindles and it is not going to rely on the EU much longer if Boris cancels the Northern Ireland Protocol. The EU with its hatred of Brexit will seek revenge any way it can. Ireland is the tail which wags the dog and it will suffer if England does and oil and gas are a prime target.
https://www.providenceresources.com/sites/default/files/providenceandshellsignmemorandumofagreement7thfebruary2011.pdf
Friends of ours in England has a son who is a captain of an oil tanker for one of the largest oil companies and he tells me he can be at sea floating around with a full load for up to three months until the company sells it to somebody or other. Now, how much oil do those tankers hold? I know, but do you expert, know?
Today’s supertankers, on the average, can hold 2 million barrels of oil. so if a supertanker was used to off-take in Barryroe at 10,000 barrels a day how long would it take to fill it? 200 days.
I've done the maths for you because I know both of you are thick.
So in a phased development, which Linn said is the way, you would fill a tanker every six months until you built the pipeline.
If it was feasible in 2011, it is far more feasible now.
Keep spooking each other as you do a ring-a-ring-a rosy.
Q.E.D.
Correct PS. The man obviously needs a geography lesson!
Manyana: "a pipeline from Barryroe and Hook Head to Milford Haven is about the same length as Barryroe to Cork".
Laughable. The Barryroe 'K' site is 49 kilometres from the nearest point on the Cork coast. Milford Haven is more than 230 kilometres from the 'K' site. That is not "about the same length" and, with underwater pipelines costing $4m to $6m per kilometre, certainly not the same cost.
TheSh*t, as a newbie on here, there are a few things about Irish oil and gas you do not know and probably do not comprehend.
First, all the b/s from the government does not talk about all the LNG Ireland imports every year. And where does it come from? Anywhere they can get it free and includes "fracked" gas from the US even after all their B/s about stopping the LNG terminal on the Shannon.
Next, Ireland does not have to use the gas and oil from Barryroe. In 2011, Providence signed an MOA with Shell to offtake all the oil and gas from Barryroe and transport it "wherever". One of the places being proposed was Milford Haven which is nearly as close to Barryroe as Barryroe is to Cork.
In fact, that MOA has never been rescinded and since Shell are experts at LNG and Milford Haven has numerous LNG depots including Dragon LNG who would gladly buy Barryroe oil and gas.
So, North Sea oil and gas nearly depleted, Corrib on its taper out, so a pipeline from Barryroe and Hook Head to Milford Haven is about the same length as Barryroe to Cork.
So, the Irish Greens might think they are on a winner by Ireland cutting off its nose to spoil its face but there are other fish Providence can fry.
And just yesterday another energy supplier in Ireland announced it is raising its rates for electricity equivalent to a " €3.61 per week increase, including VAT," and they are not the only ones. Other companies are raising their gas and electricity prices. Great if you are rich, but what happens when you are living on the bread line?
The claim is that the wholesale of electricity is rising dramatically and Ireland is up to its eyes with datacentres that it is running short of electricity and since you can generate electricity from gas and oil it shows how all those Greens should be sent to live in say Mosney's "Holiday Camp for Asylum Seekers" for the winter months - say November to March. I bet when they get out of those chalets they would die for a nice warm fire or heater.
https://www.irishtimes.com/business/energy-and-resources/pinergy-becomes-latest-energy-provider-to-increase-rates-1.4628791