The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
Yes chef, there's a certain amount of greenwashing going on with the gas idea. The overwhelming majority of Barryroe's value will always be in oil. I don't mind what the company does from a PR point of view. I think the Greens will be vehemently opposed anyway, even if it WAS all gas. Those hoping that the Greens will be kindly disposed toward better security of gas supply are in for a rude awakening. Greens are ideologically opposed to all hydrocarbons regardless of negative impact on the economy and human wellbeing. While I have a keen interest in green (small 'g') issues, I have reluctantly come to the conclusion that Green politics are evil.
Got you on that PS,here a while,emphasis seems to have shifted more to gas production.Looking forward to see what comes out of the AGM,this new chap seems very open to questions.
Not sure what you mean by viable, chef. If it's associated gas an FPSO would be needed, pipeline or not. The gas would have to be separated and I doubt it would be allowed to be flared even if you wanted to. At the peak anticipated production rate for B'roe of 100 kbb/day you would produce 60 million standard cubic foot/day of gas. That's a little over a sixth of Corrib's peak gas processing capacity, for comparison.
So with pipeline in place ,at what point does the gas become viable?
"the Base Wealden reservoir potentially contains between 0.5TCF and 1.2TCF"
Those are P50 and P10 numbers. Providence's own assessment was that the Basal Wealden was unlikely to have any primary gas cap. That means it's mostly associated gas, i.e. it comes up along with the oil. The P50 and P10 numbers for Basal Wealden oil were between 760 and 900+ MMBO. 0.5 Tcf of gas would be about 80 MMBOE. So that would make the Basal Wealden about 90% oil, whichever way you look at it. That's 90% by energy content, but about 97% by value. Same as the Middle Wealden which will be the main target of any upcoming appraisal.
You’re welcome. It most likely was as I’ve mentioned it a couple of times. Barryroe looks like the best bet for sustainable energy in the country. Carbon capture tech to be utilised and could use nearby infrastructure also. Greens have very little to complain about. Unless they want to be solely reliant on imports in the future they will need to back a new project and there’s no better than Barryroe IMO.
Many thanks for that Aimbagger,probably your good self on twitter a while back.
I feel the proposed Shannon fracked gas project has to make our prospect look more inviting to the Greens.
Europas Inishkea being controversial in its association with Corrib pipeline.
The amount of gas is referred to in the annual report chef.
Barryroe is one of the largest remaining undeveloped fields in Europe and the Base Wealden reservoir potentially contains between 0.5TCF and 1.2TCF of recoverable associated and non-associated gas, to be confirmed during the appraisal programme.
Am still trying to find the paperwork for the 1 Tcf of gas tha the Phoenix Magazine refers to,although one punter on twitter refered to it before them.
Interesting that it was Eamon Ryan ,the then Green minister in charge of exploration in 2008 that gave Providence their original licence to drill Barryroe.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://data.oireachtas.ie/ie/oireachtas/committee/dail/32/joint_committee_on_communications_climate_action_and_environment/submissions/2018/2018-07-03_correspondence-providence-resources-plc-in-response-to-committee-debate-of-3-july-2018_en.pdf&ved=2ahUKEwjyh92jzbTqAhXbQUEAHSBzARkQFjAKegQIBxAB&usg=AOvVaw0XvCyTBt7i6JVX7-PAQtIf&cshid=1593901046520
OlderAndWiser, Providence have exploration licenses that must be honoured. As long as they keep up their own commitments (which includes certain appraisals within certain timeframes) the government would have no grounds for refusing them. That's not to say that an uncooperative government department couldn't put up roadblocks and red tape. That is my fear. It is going to be a PR battle in which Providence will likely emphasise the potential for natural gas (greener fuel, a bridge to a low-carbon future etc. etc.) and carbon sequestration in depleted wells. The fact is that the majority of the value in Barryroe is in the form of a particularly viscous oil. How this will play out is anybody's guess. There is also the uncertain economy with consequences for the near to medium term price of oil. And there is the uncertain future of Providence itself, being dependent on finding a funder with deep pockets, which is certainly not yet a done deal in the current arrangement with Spot On.
If everything comes together, it will be very lucrative. But there are many serious hurdles to overcome. The voices on this BB saying that this is going to the moon and we will all get to retire are either willfully delusional or willfully lying to push their own agenda.
Apologies, but I haven't been following this company or Irish politics recently. Does anyone have a well thought out view as to how this project can survive and prosper under the new coalition regime?