Member Info for DreamOn

http://www.mobic.com/oldnews/2000/04/aether_systems_to_acquire_ifx.htm

Buying - 1% more of the company

I have lots of time today to look at the great opportunities of extracting loads of hydrocarbons from Ireland offshore

Could be 20p a share when that happens

What do the rest of you think?

Yes I think it is really looking good

Could happen anytime now .. massive upside

It would be interesting if speculators posting on this page did a wee bit of their own research instead of asking for information that is readily available by reading a couple of RNS's.

If they did they would find that EOG are fully funded through to the end of 2020 as a result of a placing in late 2018 that attracted interest from several institutional investors. By the end of 2020 I would imagine that Wressle will be on line and generating £3m a year additional revenue to our existing revenue stream and that at the very least Inishkea will have been farmed out and substantial back costs recovered.

I wouldn't necessarily assume that. They had enough time to drill and side track - just. I watched Icemax movements everyday just as I did when it drilled Druid Drombeg. Iolar was 1000m deeper but Icemax went off station three times I think for weather during Druid/Drombeg and they still completed in 60 days. (according to the drill plan for Druid they also drilled a 5km pilot hole first apparently to test conditions)

The Icemax has eventually moved away and is not on its way to Spain ...

It is not down to the results of Iolar because we are not going to be told the result of the Iolar well. But when the Icemax eventually moves away I expect that to be a catalyst for a farm in to Inishkea either including the two porcupine wells or not. Certainly there will be action one way or another by the end of September.

No - just had an email from Frank saying they were in regular contact so surprised at what he said. I track Stena Icemax on a daily basis. Also Edda Frende one of the support vessels which has been making round trips to Peterhead presumably for supplies and mud processing. I'll let you know if there is any significant movement.

What is there to be suspicious of? The farm in deal is for a commitment to drill three very expensive wells , two of which are in to prospects similar to Iolar. If Iolar doesn't prove up the play and the major concerned is either CNOOC or Exxon Mobil then it would have been prudent for them to wait until the Iolar results are known. In addition there has been the on going saga of the Climate Action Bill going through the Dail since Hugh first announced the potential farm in. The Porcupine assets are now merely bonuses if they come in. Inishkea is the company maker and this morning's RNS confirms yet again that the prospect is clearly of interest to several companies. As an aside - in case any have forgotten - Cairn farmed into one of our Porcupine licences a while ago and are now targeting an Irish well in 2021 (from their annual results). If I can sell my house while the SP is this low the money is all going on EOG!

Actually that is not quite correct. There is a new EU directive out that DCCAE are following to the letter or more specifically the Environment Advisory Unit. They have sub contracted the work to a UK company who could well be causing the problem. This appears to be a one off delay for all consultations out there because none of them will have submitted the correct paperwork before the EUA approved the Barryroe survey. It is a bizarre situation because they have knocked back Vermilion's site survey application on the same grounds yet it is a legal requirement for Vermilion as operator of Corrib to survey the seabed infrastructure on an annual basis.

The inspector was not in a position to change the way he is going to handle this appeal until after today's news was made public. There certainly will be no need for a 6 day hearing now and with planning conditions already approved between North Lincs and EDR I would imagine that the appeal process will now be speeded up considerably.

Rumours become fact. At last .. I would imagine that the Inspector will now make plans of his own to speed up the process by dropping the need for a full enquiry

#Wressle 500bpd Share #EDR 30% #EOG 30% #UJO 27.5% Mcaps #EDR £19m #EOG £14m #UJO £36m Guess that
@Europaoilandgas
looks the real value bet for news on Wressle

Mr Daniel Levi (Sinner)
@BrokermanDaniel
·
22m
#Wressle update on the way #Egdon Hearing confirmation of deal so it’s 1 down 4 #UJO another 2 to go

Independent OG farmed out some Southern North Sea assets this morning. Of interest is the royalty payment agreed 0.95p per MCF which equates to £61m for 129BCF Multiply that by 8 for Inishkea and you get an idea of the size of the prize. Wressle news must now be imminent with confirmation of Brammalls comments that we will hear soon from North Lincs.

Love this debate ... to answer some questions .. maybe create a few for the environmentalists here as well .. google the following "ireland wind farm objections" ..