Member Info for CitizenTS

Pauldrayton - the real point is that wherever it comes from, but a bit more so when you're electrolysing water, you have to PUT IN at least as much energy as you get out to split off the hydrogen from the oxygen.
That power will come from a power station fed by gas and/or oil, and maybe partly by renewables.
You can then take that hydrogen away and use it to power a truck.
Unclear whether the whole process, including the inefficiencies and friction from the extra steps, actually uses more or less oil.

Likely timescale for PMOs N Sea deal anyone?
Just reckoned a relevant question would be refreshing!
Said earlier as well but the deal hugely benefits PMO's cash flow (Godawful please note!) so enhances UKEF application when numbers updated.
Politics have never been better re UKEF.

When the price was 6p Godawful said he's spending 60k a year buying these.
So he's looking to buy 1,000,000 shares a year
And says he already owns circa 0.4% or around 1,900,000 shares!
His balloon is full of hot air and floating high

The Godawful and ranting ralphski balloons have finally slipped their moorings
Floating merrily up to the stratosphere.

Likely timescale for PMOs N Sea deal anyone?
Just reckoned a relevant question would be refreshing!
And Marunam's earlier post was a thoughtful piece imho.

The screamers on here - getpoo, godawful and so have actually turned the volume up!
Just waiting for ranting ralphski, old F*rtstone and Surplus to requirements to join in.
Gawd it was only up 0.5p today but seems to have wound this lot up!

Most likely path imho is that
- poo settles 45-50+ (in principle over 50 would begin to encourage new shale well drilling but wouldn't happen for years given the bath lenders are taking on shale)
- Some deal with FIG which removes the ridiculous charade of notionally charging tax/royalties on selling prices before cost break-even.
-SL phase 1 breakeven goes well below $40
- PMOs N Sea deal goes through in Q3, in cash terms circa £100 Mln out (rest funded by equity issue) and circa £1bln comes - almost all over the development period of SL phase 1.
- Financing completed by end '20?
Godawful will say no - is that why he has 2m shares and is buying more?
... still in (a quite exceptional) game!

Godders out himself on pause a decade ago
with a default negative view
Still in the game

Ideally ... poo would be high enough for part drilled shale wells to be completed and exhausted (doesn't take that long) but not high enough for any new wells to be started.
errr, that's exactly where we are!
and after that ...

I think Cyan2 has included the important facts of the case on UKEF.
Very constructive engagement, figures updated for M&A (matter of course for lending decisions) ENHANCE the case when the right time comes to update documentation.

Good to see Uphimself is on board with FIG setting the royalty/tax take so SL flies.
Have talked about this from various angles for quite a while now.
When the time comes I believe this will be part of the picture. It certainly should be.
The so-called breakeven price of oil for SL phase 1 could be brought down to well below $40.
The benefit to the Falklands from the capital spend, all they ever get in the early years anyway, would remain 100% unchanged.
See my recent post re what Norway is doing on the Hod field.

Kinda like Rooky'earlier post.
Thing is, in absence of news, we get Surplus using his empty retirement afternoons looking for people who might just listen to him on here.
Or mixed up madness from Godawful who tells us he's spent everything he's got on these but wants it to go bust!
I only hope these guys feel better for using the site as a therapy session.

Thought I'd reaquaint us gently with the world as it is.
No defender of board members but you'll find Rkh told us on 8 April, before PMO, that activity on SL was reduced to regulatory, fiscal and financial matters.

Excellent post Rooky

*Hold field!

Norway changes government take/tax so that God field is developed and provides oil services jobs for Norway.
Should be no surprise if FIG, UKEF, Seal Lion go the same way. Ridiculous if they don't.
SL, even phase 1, at $8 per barrel capital and $13 say lifting costs, is considerably cheaper than most N Sea fields, especially expensive ones like Hod.
See
https://www.offshore-mag.com/field-development/article/14177488/aker-bp-sanctions-hod-project-offshore-norway

Godawful, you're telling us you're down to your last six hundred quid (10k shares at 6p) but you want 0.5% of the company?

Godawful only buys shares AFTER they've gone up, then sells on the way down
and then tells fibs that he still holds the shares

See Guardian article from today. For those prepared to see it politics never been better for us
https://www.theguardian.com/business/2020/jun/23/europe-could-face-oil-shortage-in-a-decade-study-warns

How does Surplus get to thinking all his hopelessly obvious observations add anything?Sounds like such a pompous g*t.
His excess of self-esteem probably makes him think that's an insult, whereas really it's just
... a fact!