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Matt Ridley: Fracking in the UK could unlock £4 trillion of gas
https://mol.im/a/11240819 via https://dailym.ai/android
We are seriously contemplating leaving. Nothing gets done over here for the exact reasons you have stated. I remember just before the pandemic when FOE were being their annoying selves there was the equivalent mob in France trying to replicate their actions. The French police literally grabbed them before they could glue themselves to whatever object it was, that was the last time I saw them trying to do anything over there. It's a very sad day that the French are more ballsy than us. I genuinely believe the vast majority of us just want the government to get on with it but the media speak for the minority as do many in positions of power.
A Guardia Civil and introduce no opposition government for a period.
Get things DONE.
I share your sentiments. If Truss does not succeed in getting energy sorted inc fracking ,then UK is a lost cause. I left in 2016 when Blair opened up our borders and things have only got worse. Seriously, with the housing market in UK at ridiculously high prices you would do well to sell up and move out. I chose Spain , who incidentally already starting to frack and drill. The good thing is any resistance to the Gov is crushed and they do it anyway. UK could do with a task force of Guardia Civil . They could deal with Greens , stop oil , insulators and grooming gangs and still have time for a siesta.
Rule of thumb, look at the MCap not SP. If we see more favourable terms in comparison to last time fracking was being discussed expect this to climb fast. Egdon reached over 30p before based on speculation alone, plus Wressle wasn't online then. Their assets dwarf current valuation but they are only worth something if we remove local councilors from the equation. Looks like Truss and Moggy will give it a good go, if they fail I suggest you leave the UK as it's on a path of rapid decline for the foreseeable. GL.
The out come of bishopthorpe which should be soon, hoping it's behind closed doors....or the new revised cut of point for the fracking I think may be 1.5 hopefully set at... Can't see it being much more then that to start off again with...may push us over the psychological 10p barrier...
But who knows...
GL all
gg
You have removed my anxiety Pretty Wild. Thankyou
From my look at the earlier BGS report, the Bowland Shales that occur on Egdon's East Midlands licences are exactly the same age as those in other areas of NW England where fracking has occurred, Our shales may even be slightly less faulted than those in NW England, so they might be a bit easier to develop. I don't therefore see much to worry about from a technical POV. I'm also wondering if some of this "News"may be sour grapes on Mr Cornelius part since he's been out of the Cuadrilla job for a long time now.
Quote from the BGS report'' The hydraulic fracturing technique is not new; it has been used for over 50 years to improve recovery of conventional oil and gas''
Slowroll,
Cornelius’ one area of expertise is undermined by Francis Egan, current CEO of Cuadrilla, who wrote to the Guardian rebutting his geological assertions:
“Mr Cornelius left Cuadrilla more than a decade ago and has not been involved in the coring, fracking or flow testing of recent wells by Cuadrilla and other industry players, and does not have the most recently available data. His knowledge base is more than a little dated and we completely disagree with the conclusions he consequently draws.”
The Guardian declined to publish the letter…
This doesn't answer the question concerning the age of our shales. I read a report from the boss of Cuadrilla that our shale is the wrong age. I hope that's just a rumour!!!
"Fracking in the UK will be impossible at any meaningful scale and will not help with the energy price crisis, the founder of the UK’s first fracking company has warned.
Chris Cornelius, the geologist who founded Cuadrilla Resources, which drilled the UK’s first modern hydraulic fracturing wells in Lancashire, told the Guardian that he believed the government’s support for it is merely a “political gesture”.
https://www.bgs.ac.uk/news/update-on-scientific-shale-gas-report/
It's without doubt a 'grandstand' statement from the government.
But still good news for EDR if it makes things even a little bit easier....
This is good news for EDR shareholders and those with money in any other of the fracking companies.
The only thing I can think of that could cause delays is if anti fracking pressure groups take the Government to court to try to get a decision to either delay production or at worst case scenario, force another ban. Both on the grounds of awaiting further evidence that the process is not detrimental regardless of energy security issues. For the sake of the industry and us shareholders I just hope the Government have got their side legally sewn up and absolutely watertight. They are excellent at making grandstand statements and gestures that take the headlines but look at what has happened to the plans for flights to Rwanda? I have checked a few news sites and it still doesn't look like any have taken off.
Hopefully another blue day tomorrow.
I am impressed. Total missed this one. And at a double money situation. Who would not take it. I like this one as shares in issue are not silly. Will look up the free float tomorrow. Gla. A bit more reading up to do but think there is more to come.
WH Ireland broker notes:
August 8p - Enormous UK Shale Gas Potential: We highlight that we have ascribed no value to the company’s 164,000 net acres
Not to mention Resolution gas field.
8p is minimum fair value for now, then what ever else they do next could push on above 10p IMO.
I had these in January at 1.5p Johnny (but sold in May at 3p FFS).
There was a publicity note on here around Christmas time with 12 UK gas company tips, including IGAS, UJO, EDR. If you had bought them all you would be on many 10x gains by now.
Posted 30th December on this board. If only!!!!!
12 Oil and Gas Companies to follow from @TMSreach
https://total-market-solutions.com/2021/12/12-oil-and-gas-companies-to-follow-in-2022/
if you were in both 3 months ago you'd be almost level on gains tbh
How big is this news for egdon? Are we looking at another igas?
this is WONDERFUL NEWS. What needs done, is to be done. No waffling for 4 years like the Brexit buffoonery. Imagine a ruling system with limited opposition. We'd progress so fast.
Hi Mark. You've been around nearly as long as me with Egdon. I guess we both invested as we possess something called 'common sense'. We've ultimately been proven to be correct in our way of thinking , however even in the position we find ourselves in today we still have plenty of people thinking we don't need to secure our energy supply! The pound is falling against the dollar as there has been no strategy and certainly no strong leadership for decades. I truly hope for the sake of the nation that Truss sticks with her aim and steers the ship in the correct direction. Good luck to all lth's.
The Guardian reports that The government “is considering designating shale gas sites as nationally important infrastructure, potentially cutting out local communities. ……This means they would bypass normal local planning requirements……..The designations usually apply to infrastructure such as roads, airports and energy sites.”
The government say they will compensate local communities but won’t allow hysterical Ludditism.
Seems to me this will be the only way to achieve any significant production in the next 12 to 18 months and even so it will require considerable bottle to push it through. Let’s hope for the company’s future and the country’s that they succeed.
INEOS are waiting on the government to provide the lead on more favourable planning legislation. Once inept local councilors are removed from the picture it's open season for fracking. We are seriously up against it though in terms of opposition from people that have led us into the situation we find ourselves. The GBP/USD rate is what should be worrying everyone at the helm, not a few people advocating for more renewable nonsense to line their own pockets with.