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I thought this was a very good summary. Not sure if it's been posted before.
https://www.irishtimes.com/business/2022/08/05/caveat-hydrocarbons-may-eventually-kill-us-but-the-economy-could-die-first/
I read the report T but it sounds like they are still as confused as ever. Clearly there is a heavy 'green ' agenda here but without anything to back it up. They mention energy security, so hopefully someone there has got at least one brain cell in his or her head. They are taking a massive risk pushing this COP agenda as it could backfire when the electorate are struggling to pay their bills. Let's wait and see.
I think, same approache was adopted by Sound Energy, for Tendrara project. They had partnership with Schlumberger, which was later on extended to Italian prospect
@Selfish Partnering with I3E is a most excellent idea as both companies have now worked together very closely so much so that SO said I3E changed the location of the drill based on Europa's inputs; this indicates a good working environment and trust.
Hopefully both companies will be flush will higher SP prices if Serenity comes in.
One step, ( company maker ) at a time though :-)
IMHO
I'd be interested to hear Crushcut's thoughts and interpretation of Fridays news.
Free carry to production on Serenity for a small portion of Ireland perhaps once drill results are in?
I3E?
The main concern for the protesters was the location of the landfall site and pipelines, hence the name of the protest group being “Shell to Sea” - their proposal was for offshore processing.
The green lobby has a difficult argument against the much lower CO2 footprint of producing gas locally than shipping it half way round the world from Qatar or wherever.
Add to that the energy security benefits, and many Irish citizens will want this.
As for who might farm-in, probably a mid size firm from North America, hopefully US or maybe Canada. Failing that, large French if they’re interested. Just speculation.
You must have been asleep since last Christmas, JH. The world is a very different place since then.
Stupid remark. The policy statement is not a change in the status quo. It merely states that existing permits remain in place as they have done for donkeys years before. And no investor/ farminee has stepped up to the plate to bring this project forward to date because they are **** scared of the environmental obby after the veritable ****storm of protest Shell incurred during the original development, which led to them selling out at a substantial loss.
@JH77 I disagree; two things happened today; we had loads of sellers jumping ship and loads of buyers boarding ship and our SP increased today. This means we hopefully will have settled at a much higher price which is great for the next uptick, I never expect a big-bang break out but a slow uptick maybe getting faster nearer the drill date; that said if Serenity hits then there might in all probability be a BIG-BANG break out.
Whatever anyone thinks I believe Europa is in the best position it has been in for the last ten years of so.
IMHO
Bladderman some people are unbelievable aren't they!!,well they'll find out soon enough imho
Bladderman, a small correction …1.5 tcf (1 tcf is 50% less) :):)
.... yep JH77 and of course Serenity is worthless so what's the point?? Production too is over rated. Haha joker.
Ireland need gas and wholesale is through the roof. Be silly not to capitalise on 1TCF especially with the ongoing Russian conflict that could drag on for years.
Fairly predictable outcome on the day. Early hysteria petered out. No change in Irish government's position at all in years. Not seen any success either on Inishkea farm out, so not getting too excited here.
If we get news of Inishkea extension being granted then we are quid's in; Inishkea will be our second company maker.
We are quid's in in-any-case because of Wressle and Serenity.
I wasn't overly confident in Inishkea but the article gives me some much needed hope:
http://www.gov.ie/en/publication/3bcaf-policy-statement-on-petroleum-exploration-and-production-in-ireland/
IMHO
jusmasel is a top man. Shame he was driven off this bb by the likes of dunderhead, imo.
from advfn jusmasel
This is new from the Irish Gov and could be the green light for Inishkea Existing authorisations are not affected by these changes and may apply to progress their existing authorisations through the licensing stages towards a natural conclusion such as expiry, relinquishment or production. Https://www.gov.ie/en/publication/3bcaf-policy-statement-on-petroleum-exploration-and-production-in-ireland/
i think this a positive development for eog and agree that irish gov has no other options but to give the green light.
News could land any day.
The way I read it, if you hold an existing licence, that has authorized the right to explore to the point of production,.....if this was not the case, why would you buy the licence?
BW
The bottom line is, surely, that they are giving a green light while operators stick to the conditions at each stage, for them to progress through the stages through to production. If the government renague on this arrangement, I don't know if there is any comeback for the operators. However, it seems to me that if they do renague on it, they will have a big problem keeping their most vulnerable citizens alive over the next couple of winters, particularly if it's cold, so they may have to put the chance of re-election before ideological principles.
options that could be taken to address or mitigate potential risks will not include further additional indigenous natural gas production THAT DOES NOT HAVE EXISTIG AUTHORISATIONS.
thats the way i read it, quite vague. Any thoughts.
"The review will take into account the expected levels of indigenous natural gas production
under existing authorisations. However, in line with the Programme for Government and the
Climate Action and Low Carbon Development (Amendment) Act 2021, the options that could
be taken to address or mitigate potential risks will not include further additional indigenous
natural gas production"
Will the end statement "will not include further additional indigenous natural gas production" impact Europa?
Brilliant. Thanks Bobby.
Here you go...
https://www.gov.ie/en/publication/3bcaf-policy-statement-on-petroleum-exploration-and-production-in-ireland/
Porkpies, any chance of a link please?