Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
Tongue in cheek, of course :-) Airports need to prepare for such actions. GLA, DAB
https://www.independent.ie/world-news/flights-cancelled-as-climate-activists-glue-themselves-to-runways-at-german-airports/a1351252440.html
Https://petrowiki.spe.org/Rock_types#Carbonates
This helps me some.
Dai2belts, might this be the gas cut off that you wanted :-)
Vermillion Press Release 6 Jan 2023:
In December 2022, the Irish government gave formal consent to proceed with our Corrib acquisition. This approval is another key milestone towards completing the transaction. We continue to work closely with our partners and expect closing to occur in Q1 2023. We have scheduled a plant turnaround and other non-routine maintenance in 2023, which will result in production being offline for approximately 30 days mid-2023.
https://www.vermilionenergy.com/invest-with-us/press-releases/press-release-detail/?id=122805
New Onshore Moroccan Licence
The Directors anticipate that the Group will be awarded the new onshore Moroccan Licence by ONHYM, which is expected to be signed imminently. This licence would offer a near term and low-cost drilling opportunity, with a direct route to market and the potential to accelerate Chariot's timeframe to first gas. The area covered by the new onshore Moroccan Licence is an overlooked, conventional, shallow gas play in a basin with a high historic success rate of 80-85% and low development costs. Although the Directors anticipate that this licence will be awarded imminently, there can be no guarantee of such award being made until the licence is signed by ONHYM. A further announcement in respect of this will be made at that time.
The new onshore Moroccan Licence has geological and geophysical similarities to Chariot's offshore licences and is located close to existing infrastructure, as well as the planned processing facilities and onshore pipelines for the Anchois Gas Development. It is also close to the industrial offtake market with the potential to rapidly monetize production through the recently announced gas-to-industry partnership with Vivo Energy. Multiple drill ready prospects have already been identified on existing 3D seismic data and gas and reservoir presence has been proven on-block from previous exploration wells; drilling one target well could de-risk and unlock a wider group of geologically-linked prospects.
The Directors plan to pursue the material upside potential within this block and kick start a drilling campaign as quickly as possible. A four well work programme is planned, targeting high-graded prospects ranging from 8-18 Bcf of best estimate prospective resource potential (Chariot preliminary internal estimates). With rigs available in-country, the Directors expect the well programme to be carried out in the near term. Each well is expected to cost approximately US$3 million to drill. The Directors anticipate that first gas production from the new onshore Moroccan Licence could commence ahead of Anchois development cashflows. The drilling of these wells will also have important read-through to the offshore prospect portfolio due to the reservoir fairways that extend across the areas. It is expected that the terms of the new onshore Moroccan Licence will be substantively similar to the terms of the Company's existing Moroccan licences.
Paul, always talks up the unique geology of the Guercif, evidently they are the "boys in the better land "!!!
Enjoy, GLA, DAB.
https://www.bing.com/videos/search?q=boys+in+the+better+land&view=detail&mid=849B7DD3CF42462DAB2A849B7DD3CF42462DAB2A&FORM=VIRE
PROACTIVE PRESENTATION – 8 September 2022
The farm-out negotiation's may be very far advanced, the new CPR may decide the price X BCF. GLA, DAB
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2022/09/Proactive-Presentation-Final-8-September-2022-LATEST.pdf
And for Wizz:
Smaller Budapest-based rival Wizz Air carried 5.3 million passengers in June, up 23% from 4.3 million a year before and 6.0% from 5.0 million in May. Wizz Air's planes were 92.2% full last month, up from 86.1% in June 2022 and 90.2% in May.
On a rolling 12-month basis to June, Wizz Air carried 60.5 million passengers with a 89.4% load factor, up from 44.4 million with a 81.8% load factor the year previous.
Simples !!! :-)
https://search.savills.com/list/property-for-sale/channel-islands/jersey
PG - may be thinking, what have I done !!! :-)
Sure Lancygeo, here we go !!!
https://www.gov.ie/en/publication/fe55a-financial-capability-assessments-of-offshore-oil-gas-exploration-and-appraisal-applications/
6.2 Investment Cover
The Investment Cover calculation assesses if an Applicant has a high tangible net worth compared to
the total costs of the Work Programme(s). The Department will calculate the Applicants Investment
Cover as follows:
• Investment cover = Tangible Net Worth*/Total Outstanding Financial
Commitment
• *Tangible Net Worth = Net Assets – Intangible Assets
The calculation provides an indication of the real value of the balance sheet excluding Intangible
assets, were the Applicant to cease trading. Intangible assets are excluded from the calculation as
their valuation can be subjective and the assets difficult to monetise. The Tangible Net Worth value
also, demonstrates the quality of the Applicants credit worthiness and its ability to access cash to
meet its future commitments.
Expectation: Investment Cover greater than 3.5X
file:///C:/Users/Admin/Downloads/77796_965e4661-8bde-4f9b-8bce-464c80611981%20(2).pdf
Irish Times: However, the Department of the Environment told Barryroe in a letter on Friday that the Minister’s decision was based on the applicant not meeting its “investment cover criterion” in guidelines for offshore oil and gas exploration applications. The guidelines, issued in 2019, say licence applicants should have net tangible assets of 3½ times the cost of planned work.
https://www.irishtimes.com/business/2023/05/22/barryroe-slumps-almost-50-as-ryan-refuses-permit-on-key-oil-project/
PVR/BEY 80% RNS: The correspondence confirms that Eamon Ryan, Minister for the Environment, Climate and Communications ("the Minister"), not being satisfied with the financial capability of the Applicants, having been assessed in accordance with the provisions of the Act of 1960, the 2007 Licensing Terms and the Financial Capability Assessment Guidance, cannot grant the Lease Undertaking as sought.
https://www.lse.co.uk/rns/BEY/lease-undertaking-application-decision-llwddiel5klrzog.html
LOGP 20% RNS: In 2019, eight years since Lansdowne acquired the Standard Exploration Licence 1/11 (the licence upon which the Barryroe field was discovered), the Department of the Environment, Climate and Communications ("DECC") introduced new Financial Capability Guidelines. These Financial Capabilities Guidelines are much more onerous than those in place when Lansdowne acquired the licence and discovered the Barryroe field and are considerably different from those in extractive industries elsewhere.
https://www.lse.co.uk/rns/LOGP/annual-results-and-notice-of-agm-v3vg6ycom4kzj35.html
Continuing on our theme, "Not a lot of people know that !!!" but you can be very sure PG does since its use.
GLA, DAB.
From a screaming atheist :-)
Kidron, or Kedron:
(turbid)
The brook, a torrent or valley, not a "brook," or, as in the margin of Revised Version, "ravine;" Gr. winter torrent. It was close to Jerusalem, between the city and the Mount of Olives. it is now commonly known as the "valley of Jehoshaphat." The channel of the valley of Jehoshaphat is nothing more than the dry bed of a wintry torrent, bearing marks of being occasionally swept over by a large volume of water. It was crossed by David in his flight (2 Samuel 15:23 compare 2 Samuel 15:30) and by our Lord on his way to Gethsemane (John 18:1 compare Mark 14:26; Luke 22:39). The distinguishing peculiarity of the Kidron valley-mentioned in the Old Testament- is the impurity which appears to have been ascribed to it. In the time of Josiah it was the common cemetery of the city (2 Kings 23:6 compare Jeremiah 26:23).
Thanks MEM for the metaphor, however I think that we are crossing the Kendron, to the promise land :-)
Second thought, might a new CPR (no longer SLR) be at the behest of a pre-approved buyer/agreement ??? DAB
Rosso123, we can add Providence/Barryroe, to the list. RNS today - Listing Cancellation & EGM to vote for voluntary liquidation !!! PG will need to earn & keep a large war chest if Corrib South is to advance, Ryan's new guidelines demand 3.5 times drill costs in net assets !!! GLA, DAB
Next ! GLA