Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Cairn - according to Sept Presentation are ..
FEL 16/18 and FEL 16/19
? FEL 16/18 Cairn 100% (Operator)
? FEL 16/19 Cairn 70% (Operator), Europa 30%
? Maturing prospectivity on Crean 3D
? Evaluating synergies with other operators
Old Henry eh? Interesting quote. Henry didn't abide with popular opinion. He sought approval from others to escape the word of the Pope and Sir Thomas More, God bless him would not give it, but on the other hand he didn't actually disapprove verbally. He remained silent on the matter and that silence was implied to be in favour of the status quo. Unfortunately it led to his execution but no matter, the maxim that silence supports the status quo is very relevant to the Brexit referendum and the millions who didn't vote. Margaret Thatcher recognised that in the first independence referendum in Scotland insisting that the majority of the total electorate was required not just the majority of those that voted. I would suggest that the majority of those who remained silent in the Brexit referendum may not be so quiet should there be another. There is no going back on it when we leave. The opportunity to make the mistake of the millenium remains. Whether the mistake is to leave or to stay who knows ...
Not sure it will be startling news but at least there should be something positive soon from the work over at West Firsby.
There is bound to be some news from the anticipated Farm In to Inishkea and the two Porcupine Licences soon.
A case of wait and see with regard to Morocco but probably not going to be earth shattering when news does arrive - still it is a project pipeline replacement in a country that has a much more amenable regulatory approach to E&P
There is a actually going to be a decision soon on the first Wressle appeal (extending permission to stay on the site) - no enquiry needed and of course the appeal on production planning permission is still to be submitted.
The one thing though that never appears to be on the agenda is M&A - surely given the state of the UK Onshore E&P industry there isn't room for so many small oil companies like EOG, EDR, UJO etc ... A merger might relight the fire with investors ? Just a thought.
My SP prediction for this time next year? 3p or 20p - nothing in between or lower for that matter - entirely dependent on Inishkea progress. GLA
The Brexit Referendum and Trump's election caused pandemonium in the markets. This year the same may well occur again. Brexit - whatever happens - will cause turmoil while the odds of Trump either jumping ship or being pushed this year are pretty low ie. odds on .
The oil price is likely to be pushed downwards by all concerned but gas demand is growing as I said below and if Russia turns nasty after Trump disappears it could hit new highs. That wouldn't necessarily affect EOG at this time but it would significantly raise awareness of Irelands dependence on gas.
I have been following EOG and other AIM oilers for a year now and have come to the conclusion that investing in Fracking and Onshore Oil in the UK is doomed to failure - the political risk of Labour taking over is too great and we already see local councils spoiling all efforts. But offshore Gas I think is the place to be. It is the only energy source that complements renewable energy and demand for it all over the world is going to grow as renewables flourish. Offshore is out of the way of the environmentalists. You also want a scenario that does not require the building of new onshore facilities which would bring the environmental groups back into play. Add to that a country whose energy supply could at best be described as weak (they still burn peat in Ireland and are looking at cow dung to replace it) then Corrib and Ireland really tick all the boxes. Nephin aka CPPIB are no fools, I can't see them sitting around and just letting Corrib expire in 7 years. They have the dosh and their team looks geared towards further exploration. Europa announced recently that they had a possible farm in partner for Inishkea - great - that might happen it might not - but what I take from that at least is that the people in whatever company it is that is interested liked what they saw and confirmed Europa's interpretation of the seismic. So I see little risk in Insihkea not being farmed out and drilled in 2020 as planned. With success, appraisal wells and tiebacks, Inishkea could be bringing Corrib back to full capacity in 2022 and extending its life for a further 10 years. The risk reward then for Nephin and perhaps Vermillion is negligible and the rewards for such a small company like Europa huge. So Europa is my sole entry into my bucket list for 2019. My expectation is that a farm out will be agreed and by this time next year contracts will be in the process of being awarded. At this entry level I am looking for a free carry of half my holding through the drill so looking to sell 50% at 6p. I am confident I will get this. Good luck to all of you who share my opinion. Happy Christmas and an extremely prosperous New Year.
Think you all might want to have a look at their website. Look at the employees/management and look at what it says on the front page .. "We are focused on growing in Ireland and Europe through the acquisition of material interests in assets across the energy spectrum" These guys have billions at their disposal ..
By the way - conflicts of interest at Board Level happen all the time. Standard procedure is that conflicted persons leave the room when the interest is being discussed...
If Putin cuts the gas to the UK then he cuts it to Ireland. First thing the UK has to do in an gas supply emergency is to stop exporting it to Ireland. I don't think its looking to good for Ireland then unless Europa Oil and Gas come to their rescue ;-)
Best time to buy is at the bottom of the market and I am calling this the bottom for UK Onshore Oil and Gas. Putin threats have to be the last straw and the Government has to start getting tough on anti-frackers. My bet is that they will and that companies like EDR will start to attract the investment they deserve.