RE: PRD1 Mar 2023 14:19
Sheephatch, more importantly to PRD's Irish gas, from Vermilion's Jan 6 news release:
"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".
This will give Vermilion & Nephin 100% control of the declining Corrib Field, along with all the plant investment & are in need for new & proximate gas prospects, ie, Predator & Europa. The UK could also condition their continued gas supply to Ireland (ROI), on Ireland playing its own exploration, diversification & energy security part & potentially exporting gas to the UK, if needed in the future. A Quid Pro Quo !
"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."
Maybe they should keep it down, until there is proper licence movement & they might also be better off, due to the huge Irish Windfall Taxes.
"Included in these estimates is the assumption that Ireland moves ahead with its proposed 75% windfall tax (approximately 56% net of income tax) in each of 2022 and 2023. We remain firmly opposed to the windfall tax and the manner in which it is being implemented, and we continue to explore options to mitigate the impact. Vermilion has been a responsible operator in Europe for over 25 years, providing essential energy to the region as other oil and gas companies exited. It is our desire to continue working with governments in the region to enhance Europe's energy security; however, Vermilion and its partners require a stable, predictable and equitable regulatory regime in order to commit capital to long-term investments."
GLA, DYOR, DONALB
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