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Does anyone know how far this Edinburgh well is from Deltics's acreage as this has just been released:
Oslo, 8 July 2022 – DNO ASA, the Norwegian oil and gas operator, today reported that the Edinburgh exploration well (30/14a- 5) drilled in offshore UK license P255 is being plugged and abandoned having failed to encounter commercial quantities of hydrocarbons in the prospect. The well was drilled to a total depth of 16,500 feet and encountered two sandstones of Jurassic age but wireline logging indicated no movable hydrocarbons within the sandstones. DNO holds a 45 percent interest in the Edinburgh prospect. The well, operated by Shell U.K. Limited, was drilled through a joint well agreement covering four separate, contiguous licenses, of which two are in the UK (P255 and P2401) and two in Norway (PL018ES and PL969).
I think they will announce the favourable decision in October just after the next domestic gas hike to garnish public support
The decision will be debated by the new cabinet after their election and their recess from 25th July to 5th Sept.
So we could now have a decision towards the end of September because it's obviously a contentious issue.
However it's only some 11 weeks away.
UK natural gas futures declined to 280-pence-a-therm from a four-month high after Norway’s oil and gas unions agreed to put a stop to the strike, calming nerves about a significant reduction in the Scandinavian country's gas output.
I think the government will make an announcement quite soon to deflect the current heat off Boris, as there is no other main news to distract the public
Putin won't back down.
The next UK election has to dictate a feel good factor so utility prices must drop.
Government is therefore very tempted to give this the green light
Any guesses as to what the share price will reach if the government agrees fracking this week
Rktech
You mentioned the possibility of another placing; they come probably every six months at possibly a 30% discount.
Does that mean SP could fall to around 15 p before bank loans are agreed or will Tower have enough cash to utilize before then?
Anyone else have a firmer SP value?
If fracking is approved then what could the share price initially go to
PortfolioPower
We would love to hear your thoughts on Kodel Minerals in comparison to Kefi and Caracal?
Also, interesting to have your experienced view on which position each would hold in your imaginary auspicious pecking order I.e. 1st, 2nd and 3rd :)
Any bets on where the share price will open at if they are granted government shale approval this week