I’ll keep this short(ish)…Others may have more detail to go into and just to point out this is just one of many positive announcements that many come in the short to medium term…
Art needs to flare gas to reduce the pressure in the wells for the oil that COPL are extracting out of the Shannon unit…
Wells can’t run at full capacity due to the pressure issue at present due to the miscible flooding they been doing over performing(Helping displace oil but creating a lot of excess pressure they don’t have facilities to cope with)…
Right now COPL are allowed to flare on 5 wells but if(should be imo) approval is gained they’ll be allowed to flare on 32 wells…
But I wouldn’t say it’s a pie in the sky post lol…
Given we have the flaring news due on Tues/Weds it’s MY opinion as to where I think we could go as long as approval is given…
Reason being because flaring on wells would increase from 5 to 32 wells from what I’ve seen which I think is substantial but like I said…my opinion and there was thought behind that figure given :)
Prag - I’m not bothered about what the trolls have to say haha…I just like questioning them on previous statements they make which they don’t usually answer btw…
Oil is only going down due to the threat of a demand slowdown…which imo is the wrong thinking but who knows
Also Europe's gas problem hasn’t gone away they’re just applying caps to control the outrageous steep price trajectory it’s gone on…they’ll probably need to supplement the shortage with something else… Oil maybe…anyones guess