Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Persimmon
I agree with your statement re spot prices, when running initial screening economics to determine size of facilities, and number of wells the operating company would be using 50% or less of the current spot price.
cloves is back to the only subject he remotely understands; for he knows very little about Oil and Gas Exploration companies that's for certain.
No Selfish, I had a dream last night that Rathlin said they only had enough money to last until the end of the year.
Then I woke up, looked at their accounts and saw I may not have been dreaming after all!
What makes you say that? Are you onsite persimmon. Are you getting your hands oily? The nearest your hands get to any sort of lubrication is a tube of KY Jelly.
Looks like a gas play if anything.....the oil extraction looks 'goosed'.
Absolutely Uggy.
Down a fair bit.
Spot on selfish. In the event of success at WN economies of scale would push the cost a fair bit
I'm not sure if you are aware, persimmon (it sounds like you're not), but the cost per barrel for oil produced at Wressle is $17. That includes ALL the costs you quote - planning, objections, transport etc. etc. So the profit is currently about $58 per barrel. Hardly a 'very small fraction', is it.
John2525.....the answer to that will have to be initially built into the degree of Commerciality following what realistic volume's are expected to be.
One of the greatest errors is that those posting and quoting what price a barrel of oil or a cubic metre of gas is on commodity markets, and only expecting that is what any prospective buyer will need to know is way off the mark. The final profit margin would be a very small fraction of any gas/oil prices quoted. That's why in my opinion quantities will have to be really huge to begin with, and that excludes all the planning, objections , high court hearings ,way leaves, transportation etc costs which would then have to be considered. Many years away even if viability proven.
OMO
Persimmon
Please share your view on how to move gas & liquids from WN.
SelfishMcNimby
There are always "unknowns" until you start operations. so the volume of liquids could be higher. The nearest oil refinery is Lindsay Oil Refinery, problem is it's the other side of the Humber 38 miles away although the distance is not great when you look at the route you can see there will be a whole set of new issues.
To answer your question, I feel a pipeline is the only option.
Pipe dream more like than Pipe line
@fyoz becomes 'of national impotance', far from being that at the min. we have not got even news yet if the well damaged 2 years ago is healed or not, let alone anything else, more like "local disaster" than national importance!
So John2525, which would you prefer - an oil pipeline or road tankers?
Wow, 40m wide pipeline, that's big!
SelfishMcNimby
My main assumption is that processing facilities cannot be built at WN so the logical location would be Hull, and therefore would require a 3 phase (Oil, Water, Gas) pipeline.
If you could build at WH a pipeline would still be required to the national pipeline tie-in point.
"with regards to the planning, i think we all know its going down the very long costly road ."
Not if the resource becomes 'of national impotance', in which case planning is taken over by central government and becomes very straightforward
' bulldozing a 40m wide pipeline right of way across the countryside'
This AND 25 tankers a day! There must be a huge oil and gas field present.
Flatearther
Planning application - This is the easy phase for any development, therefore you can imagine the challenges when bulldozing a 40m wide pipeline right of way across the countryside is required.
If WN is economic it will probably take 5 years to develop.
ill say this before the decision later, i also am expecting it to be accepted today. i am also expecting it to be appealed i think today is a bit of a nothing day with regards to the planning, i think we all know its going down the very long costly road .
it would only be news worthy if it was rejected today.
Amen
But environmental campaign group Fossil Free East Yorkshire commissioned an independent study into the plans which claimed they were “fundamentally flawed”
But the plans have seen Conservative East Riding Mid-Holderness ward’s Councillor Jacob Birch writing to Environment Secretary George Eustice to order an Environmental Impact Assessment which the minister ruled out.
Councillor Andy Walker, ward member for Bridlington South and Yorkshire Party environment spokesperson, branded the plans “insane” in light of the council’s climate emergency declaration.
I wonder if the above parties use gas to heat the central heating systems?
Ditto DD.
Have averaged down for four years now from .85.
Hoping end of this and early next year my patience will pay off.
Agreed SN defo a closed period interims anyday now, A2 results and Victory CPR due this month.
They did state monetization around Dec/Jan.