Member Info for Copper3

At least we got a statement. The most positive thing is that Wressle will continue to clean up, and improve flow. (and with new gas handling equipment in place we should get news on that in January.)
The rest of the statement is unfortunatley just a rehash of the position we knew. No real news.

Usual AGM for approval annual report, reappointments of directors, and approval to allot equity securities- which always sounds dubious, hope not so. I did ask thro' the contact EOG for an operational , and prospect update on 8th , but have receieved no reply as to whether they intend to give one. Is anyone attending the AGM. ?

Bit of movement in PVR Share price.,so had a look again at their situation for barryoe.Although they did find significant oil gas from a well a few years back...they are still uncertain if this is an oil field with gas or perhaps a gas field with some oil.hence wanting to drill another appraisal well.hence recent sea bed survey.in conclusion PVR not that far ahead of EOG.,and if Barryoe turns out to be mostly oil then guess Mr Ryan will say no way for production licence.I still think it will be next spring before we hear anything positive from Mr ryan for possible Corrib extension and our sea bed survey. Will we get any update from Si at the Agm ?

I understand we won't know tests results of vaccines on this new variant for 2 weeks, so maybe this sell off is a bit overdone. My average of 1200 is not looking good and it may well be next winter or 23 when things recover. Long term J2 will be going back up, just how long is long term now. Dont panic.

Supporting UGC on this proposed stop of the sale of IRC is good for rest of the shareholders.$55 m better. ? Dont understand why directors can't pull out of the deal, unless there are big penalties involved, or backhanders maybe( can't be Pavel again?) . Also news today , POG trying to ofload another $60m debt , albeit at a premium cost, must be good long term sense.
Previous indicated the POX hub would be fully utilised by end of this year, so results must be better next year, although operational costs may be going up with gas prices and inflation.

Serif, thats another negative action by Ryan. Inniskea seems very far away again. I was aware Ireland had put a stop to new exploration“Through the Climate Act 2021, Ireland has closed the door on new exploration activities for oil and gas. There is no longer a legal basis for granting new licences. In line with Irish Government policy of keeping fossil fuels in the ground."
However I understand as EOG has existing exploration licence, done most of pre drill work except sea bed site survey, are drill ready, just waiting go ahead for site survey- whether this will ever materialise while Mr. Ryan is in the hot seat is debatable. Soemthing positive may come from Energy review, I guess its a maybe.
I am also trying to understand the PVR Barryoe field prospects- reading comments on PVR chat room etc.-, all a bit confusing. PVR completed a sea bed site survey in October 21, Im not sure if that was for same field as had previously discovered substantial oil and some gas, but had funding pulled earlier this year as Spot On Energy as fundng oprganiser dropped out. I seem to recall they planned carbon capture . As PVR down 5% again today may indicate not all is well there either.
Oh well, we can wait a cheerfull update from S.O. at the AGM, just maybe.

Serif, thats the first positive comment from Ryan. I believe we should have news on irish energy review spring 2022. Inniskea may indeed happen.

UJO Wressle- looks like upgrade works and production plan end of year at earliest for OGA approval. Knowing how these things have dragged on before lets say OGA approval by end of Jan 22. I guess the final production will be around 660 bopd., which will be great for all partners. I understand the Pennistone formation has a lot more more gas so I trust they are taking that into account in the design , but there are no details given on future plans. So don't expect a magic RNS anytime soon, although I have asked EOG for an update prior to Dec AGM.

The debate has reached a state of confusion today.need to see the final declaration tomorrow. I don't as yet see any ban on new oil exploration but it must be making potential morocco explorers nervous.

Spring 2022 review. sorry

Tac.its a dispiriting day with EOG. Unfortunately without Ryan signing off sea bed site survey Inniskea is on a hold.I think we will have to wait to spring 2023 to see formal energy policy review..and what part gas will play.at least 30% energy from 2030 when existing Corrib will be exhausted.Hopefully the review will give the impetus for more gas to power stations ...also needed when wind doesn't blow. Partly will depend on gas price and supply from Russia I sense the high gas prices will remain in 2022 and beyond if more gas supplied to China next year...15 yrs..I'm holding for more Wressle news after gas equipment is operational and possibly Morocco and also revised CPR In December? but Inniskea still very uncertain.I think Edge would be a better bet as its closer to existing Corrib pipelines. Keep calm all.Lets press S.O for an update on Wressle.

The NORD 2 pipeline to North Germany is completed but regulatory and EU concerns likley to put of use till May 2022. Concerns continue that Russia would then be able to cut or at least reduce supplies through Ukraine, Ukraine losing revenue, and increased political Moscow pressure. Russia has promised both Europe and China increased supplies from 2022, so there will continue to be uncertainty in the market as to whether Gazprom will be able to deliver both. UK/ Eire are you looking at this situation again.

A flow rate over a time period that meters can handle...we have been given 884 in bopd and "in september"..so it is unclear whether this was just one or two days or the whole of september.I remain optimistic that it was most of September.Await positive CPR...funny day today with Cop 26..does make you consider if oil shares are investible at the moment..but oil gas still very much needed next decade or more..So lets see what russian pipeline issues have on gas price next few days.My heating is on today at least.

Much lower IRC debt. Does this mean if the sale of IRC can be delayed , then maybe next year there will be no IRC debt to Gazprom bank, so POG guarantee no longer required, and maybe sale of IRC can be cancelled. Actually hoping UGC shareholder pressure can force that, but no indication of that so far.

Finn Capp target up to 7.7p based on brent price 2022 @$60 which is conservative..part of NAV based on 2.3 p share for turtle field in inezange .forecast net cash£ 3.2 m next year.Very positive.

I take the view that Si missed any investment opportunity now with high oil prices and in any case best hang on to cash for inniskea site survey and pennistone wressle...could be a busy 2022.

Wressle 950 bopd September excellent.we could do with an update from EDR and ideally a revised CPR on wressle.Otherwise same old.cost of sales and overheads still high..but should have good profits soon and maybe Morocco will come good.

Has anyone else tried to interrogate the OGA website for onshore well production data - its a difficult proicess, and I cant see anything yet for Wressle. EOGs existing wells at crosby warren and West firsby were slightly down in production in last published monthly figure for June 2021, but Whisby which is operated by Blackland is up , (I dont know why), -that leaves total net daily production to EOG of 88.9 bopd which is only slightly below previous reported figures, so with BOPD brent today at$84 that must be significant revenue now to more than cover overhead costs plus very good income from Wressle. Do we know when next EOG report is expected to be? or do we need to push SO.

I seem to recall Provident planned carbon capture in old Kinsale gas field ,so they seem to be getting ahead of EOG - Corrib. Doesn't rule out Corrib ..but we need EOG to be more positive to try to offset green concerns.

I seem to recall Provident planned carbon capture in old kinsale gas field ,so they seem to be getting ahead of EOG - corrib. Doesn't rule out Corrib ..but we need EOG to be more positive to try to offset green concerns.