Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Wressle is a great well, but Egdon constantly disappoint with their endless slippage in terms of moving things on. I had hoped that was why they got bought out - we’ll have to see if that makes a difference, but it seems to have come too late to help get the CPR out promptly. This of course knocks on to planning permissions, drilling etc - so you’d have thought it was a top priority.
Serif,disappointed they not put any news out yet tbh expected this to come this week
Now they have all visited West Firsby perhaps they can tell us the plan for improvement and how much extra production they are targeting? I think they have notionally raised money for these improvements twice over the past few years. Time to do something or stop talking about it - let’s move ahead this year at least on the projects that are within our control.
Hopefully the CPR will arrive this week and stop the drifting down of price on low volume.
Https://twitter.com/europaoilandgas/status/1680927202949341186?s=46&t=yb4bY8lQ32WiMrlMFx8_yQ
Anyone know when we are likley to see CPR publised . I thought max 6 weeks from June 7 investors brief.. so that should be soon.
I don't believe Mr Ryan is blocking this anymore. The mood music has certainly changed within the government. Will holland invited to the Irish energy summit by Leo varadkar certainly looks positive.
Licence technically runs until 31 Jan 2024 and I can’t imagine we would give it up before then -
“ the Minister has given his consent to extend the first phase of FEL 4/19 to 31 January 2024.”
However EOG clearly would like to get any farm out signed before then so that it’s not a last minute job and all the relevant paperwork can be submitted, so that Ryan can’t exploit some technicality to block progress.
Very good link and an interesting insight into Mayo community council. It’s the kind of pressure that is required though. So did it read it right that if not approved by the Irish government by November EOG will pull out of this?
Just thinking this… And if EOG pulls out the Irish government could hand this over to someone else with more of an Irish connection? It’s now clear why we brought Brian O Cathain on board, as looks like that the only chance we have bringing this through. October going to be a nervous month for us LTH.
Ireland will be without its only indigenous Natural-Gas Supply.
Natural Gas supply verses demand down 20%.
Downtime for Corrib is nigh.
Ireland will be without the Corrib Natural-Gas while the maintenance proceeds.
An extended maintenance could be required if additional engineering works are necessary.
hxxps://www.con-telegraph.ie/2023/07/14/way-being-paved-for-essential-works-to-proceed-at-mayo-natural-gas-terminal/
From Tommy241 on the other board.
Missed this article from beginning of last month, where it gives a lot of information, including retaining a 30% interest and EOG are “out there with big oil companies working on this”
Https://www.advertiser.ie/mayo/article/135915/uk-company-lobbies-council-on-new-gas-field
In addition to what Serif said.
Corrib is producing less and less each year, (with the reductions being met by foreign energy imports) with Corrib expected to cease production in early 2030's.
This will make Ireland fully dependent on "expensive" imported energy.
When Corrib shuts down the pressure of it being offline should hit home and predict the future; this will be an excellent reminder for Mr Ryan and the Irish.
Also the Corrib infrastructure which cost 100's of millions of pounds to build will be wasted come early 2030.
Indeed am surprised too it's not heading north pending news imho
Tony I agree this temporary shutdown has no direct effect on Inniskea plans . Only threat of north sea piplelines being attacked or Ryan being honest about costs of importing gas ( LNG from Oman or USA Shale gas ) from the UK, or more political pressure from Corrib owners will bring this to a conclusion and as yet we've heard nothing about a deal with EOG , so lets just hope talks are ongoing.
Shows Ireland what it’s like to manage without any indigenous gas - which is how it will be if they don’t allow gas exploration to extend life of Corrib.
How does the shutdown at Corrib help Inishkea ? I'm assuming that the shutdown is at the onshore processing plant which case Inishkea would also be shut in if it were developed.
Wressle cpr imminent release. Inishkea prospects positive. Serenity 1 well development news possible.
Surprised this is not closing in on 2p already.
Good news indeed should give Ryan reasons to sign the drill permit off get drilling
Great news for Europa; the shut down at Corrib could be the final PUSH forcing Mr. Ryan to yield and yield fast if the shut down causes problems.
IMHO
The 30 day shut of Corrib for maintenance is a guideline I presume.
One never knows what further engineering work requirments could possibly be uncovered once the maintenance proceeds.
Indeed the lead time for delivery of unanticipated components or parts may be protracted.
The consequences could be dramatic.
The Moffat pipeline must be at capacity volumes at present.
The major Natural-Gas pipeline from Norway to the UK is at capacity volumes.
There are no further updates regarding the jet engines acquired by Minister Eamonn Ryan to generate additional Electricity .
I would like to know if there is even enough available Natural-Gas to run these jet engines even for a few hours let alone for days on end.
They could easily be white elephants.
Ireland could be prone to Electricity blackouts during this necessary shutdown.
In such instance the citizens and Industry and the economy and reputation for foreign multinationals to locate and invest will be materially damaged on an International level.
The executives in these relevant boardsrooms will be giving the thumbs down to Ireland.
Hopefully this Irish Government will finally see the light on encourage the exploration license holders to procced with their endeavours to discover further Natural-Gas and Petroleum resources. This Government prior to election and publicily on many occasions since have said that all existing Exploration Licenses issued by previous Irish Governments will be honoured and the Exploration Companies permitted to proceed with their work programs.
This aforementioned situation would not be occurring if Ireland had additional indigenous Natural-Gas production at present.
Deltic, has had a nice rise on their resource upgrade, a similar rise would take this abouts 2p..
Their prospect is in the North Sea, EOGs so much easier on land
Could be why William loaded up , lol
Great news for shareholders; hopefully should go higher.
Saudi continues reduced production,(1 million reduction per day) and Russia planning to cut 500K barrels in August.
All good for Europa's coffers!
IMHO
Sounds great lol..
I wonder what sort of planning goes into 30 days of no production, that would a lot to buffer
Dai2belts, might this be the gas cut off that you wanted :-)
Vermillion Press Release 6 Jan 2023:
In December 2022, the Irish government gave formal consent to proceed with our Corrib acquisition. This approval is another key milestone towards completing the transaction. We continue to work closely with our partners and expect closing to occur in Q1 2023. We have scheduled a plant turnaround and other non-routine maintenance in 2023, which will result in production being offline for approximately 30 days mid-2023.
https://www.vermilionenergy.com/invest-with-us/press-releases/press-release-detail/?id=122805
We need to cut off the gas to Ryan and protestors houses, so they realize how important it is to them lol