Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Hugging trees and talking to plants... LOL........ The couple of clowns we have on here all pent up with anger and bitter at evolution (which they are a huge beneficiary of) really should go and do something constructive with their lives, Seriously guys just FOURKOFF your whole argument is one HUGE OXYMORON, if only you could spare your brain cell a second to work it out,You would laugh at yourselves...... C'mon, get a wash, Brush your hair and join in, It's truly amazing what you can do with your life.....
Clearly you don't understand the various drilling and cementing phases. Best you focus on industries you do understand. If any...
Just to note that oil today is up 2-3% on various bits of bullish news....reduced rig count, crisis in Venezuela, lower dollar etc. Amrita Sen from Energy Aspects suggests that oil is about $10 lower than it should be (not sure if should is the right word) on fundamentals and that the market is overly focused on US production increases, which are not really remarkable compared to OPEC cuts, and not on demand issues. Also OPEC, and the Saudi's in particular, have only just begun to target exports to the US specifically and this targeting may help to continue the US crude reserves draw after the end of their driving season. I would expect there to be a change in market sentiment about O&G shares next week assuming all remains equal, which it never does.
Potential is an often over used word. Cuadrilla began drilling 48 hours ago, to huge fanfare and an announcement of their £100k "bribe" to local residents for which BBC North West were happy to report. The fact is they have now had to remove every single section of that drill today, that's over 30 sections that they inserted yesterday. No explanation whatsoever. As a result, nearby residents are now without water and United Utilities are on site attempting to remedy the situation. I genuinely feel sorry for those still invested, I was one of those who jumped ship 6 months ago, and at a considerable loss! This share is going nowhere.
Not sure about the tunnel vision, if there was a breakthrough in battery technology or in cheap safe modular nuclear plants then I would expect shale to become uneconomic, but since I don't see any sign of that in the near future I think shale could make some real contribution to the energy trilemma, that is how we create energy in a way which is sustainable, cheap(ish) and secure. This winter we will be reliant on spot purchases of LNG imports to cover periods of cold weather over a week since the closure of the Rough storage facility. Currently there is a glut of LNG but with the Far East in particular moving more into the gas market to address the political fallout from pollution (re-run of London 1950's) it may not be long before the market tightens with an inevitable increase in price. I note also that there are again concerns about French nuclear safety with the (outside) chance that our imports of French electricity may be impacted. Sorry to go on but just wanted to comment on Underhill's statement, headline news of course although one doubts if a similar positive statement about shale would have got any mention at all. I used to have a lot of respect for the BBC's impartiality but this sort of editorial choice strains that trust. Anyway as I understand it the shale deposits in the UK are much thicker than in the US although more broken as Underhill says. I'm no expert but I think the idea is that rather than use long laterals like in the USA we will more likely have stacks of shorter horizontal runs from a single pad, which will help with the U.K. smaller land area issue as well. Regarding gas bearing potential the greater depth of shale will enable the driller to focus on areas with the best characteristics. Of course we won't know how economic it'll be until we try but Cuadrilla got quite decent yield from their first efforts.
Ok, I have done some research. It seems the 'learned' professor who thinks the UK cannot be fracked is taking a line from the 2014 DECC report that states; "This study concludes that there is no significant Jurassic shale gas potential in the Weald Basin." ...... but in the paragraph above it states; "This study has identified the potential for a significant volume of oil-mature shale to be present at several horizons in the Jurassic in the centre of the basin." So to put it simply there are some areas of the UK that would not frack and some that'd be just fine, like anywhere else in the World! https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/313702/BGS_DECC_JurassicWealdShale_study_2014_MAIN_REPORT_LOW_RES.pdf As a side note, this OGA 2016 report is interesting and concludes, "No significant shale gas resource is recognised with the study area."; https://www.ogauthority.co.uk/media/2786/bgs_oga_2016_wessex_low_report.pdf Igas don't have any licence areas in the Wessex area as far as I am aware.
http://www.telegraph.co.uk/business/2017/08/16/uk-shale-industry-overhyped-unlikely-deliver-geologists-warn/ This article in the Telegraph is why the SP is tanking at the minute, although I suspect the SP is now so low that even if you ignore fracking the oil side of Igas now makes the share a bargain. After all, Igas are now in the position of making a decent profit on their conventional resources alone. I also see this 'Professor' as just an opinionated guestimator (who just wanted 15 mins of fame, imo) as he has no actual idea of the true flow rates of gas in the rocks of the UK. In fact, Igas have got the best understanding as they have the research. So like all things we shall wait and see. The first flow tests later this year will prove one way or another.
Afraid it's a trader's share, for the brave or foolish only. Not for me, better odds with the likes of edr.
Sad to see so many tiny trades selling at this price. 300 share sales for £150. No doubt they were bought at the equivalent of circa £20 per share, how to turn £6000 into £150. Probably time to buy when the nubs are selling.
Agree, I think most rational ppl realised the looming catastrophe on their holdings towards the back end of last year. A few, earlier. Cashflow is king and all that. Sensible to cut your losses and sell up as soon as it's apparent that the cashflow won't fill that black hole.
Most of us will agree on that, apart from the very few stalwarts, such as "mark the spark", who seems to have tunnel vision, amongst other things and I think that Igas will probably cease to be during the latter part of this year. It all sounded so good, too good.
Agreed Jcw and all the positive RNS in the world aint gonna make it good again. sp dropping like a stone.
This is a dead dog. Avoid,it's that simple.
Cuadrilla Drilling - Times 18/08/17 "If successful, Britain’s first shale gas production could be supplying homes by the middle of next year"...... IGas - Times 03/07/17"The London-listed company has approval for exploratory wells at two sites in the East Midlands, in partnership with Total, the French oil and gas major, and Ineos, the privately owned UK petrochemicals group".......... IGas - 30/06/16 Using a deterministic method adopted by the British Geological Survey and including recently awarded 14th Round licences, D&M have estimated an IGas gross mean gas initially in place (GIIP) of 221 trillion cubic feet
dog of a share lost many thousands and becoming an anti - fracking protestor.
Could be the start of the fracking boom !
According to those in the know at the PNR site they have already run into problems in the first hour of operation. Complete and utter cowboys.
Caudrilla even
Good news! Coudrilla starts drilling fracking site!
I thought, at the time, that their consolidated SP at 75 PPS was somewhat optimistic. They may touch 75 once they are producing Shale gas , but they are not producing it at the moment. In old money the present SP means that anybody who converted will have lost 2600 of their old shares
I thought, at the time, that their consolidated SP at 75 PPS was somewhat optimistic. They may touch 75 once they are producing Shale gas , but they are not producing it at the moment. In old money the present SP means that anybody who converted will have lost 2600 of their old shares
'Very large potential' Cuadrilla's technical director Mark Lappin told the BBC: "We have noted the BGS estimates for gas-in-place and consider that volume to be indicative of a very large potential reserve. "It's the purpose of our current drilling operations to better understand the reserve, reduce speculation from all sides and decide if and how to develop it. "I expect Professor Underhill would be supportive of the effort to understand the resource including geological variation."