Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
Thanks andmillsy, can you tell ne how I get the link for tele gram?
Iceberg, based on this hole #19, have you an approximation of the total tonnage of contained copper? won't hold you to it, but what's your thinking? Thanks.
EX-023....a very nice 'Ole indeed.....well done Colin and Team!!
Wind farms
Flexible gas-fired generators can switch on or off quickly to meet fluctuations in electricity demand. These tend to be smaller than the so-called “baseload” gas plants that are designed to supply power more consistently.
Irish and European energy companies plan to spend billions of euro building wind farms off the coast that will ultimately supply thousands of megawatts of electricity to the national grid.
However, those projects are not likely to begin operating until the second half of the decade and later. In the meantime, demand for power is continuing to grow.
A report published by Eirgrid last year shows that data centres and other large energy users will consume 27 per cent of all electricity generated in the Republic by 2030.
Irish times
National grid operator Eirgrid will seek bids from electricity suppliers to build new power plants in the Republic to combat a potential shortage of energy.
Growing demand and the prospect that some existing plants may close mean the electricity network will need new power stations in late 2024 and early 2025 to guarantee supplies in the longer term.
Eirgrid plans to hold a “capacity auction” in January through which it will recruit power suppliers to build what are most likely to be gas-fired electricity generators.
It is not known at this point how many power plants the State-owned grid company will sign up, or how much electricity they are likely to supply.
Successful bidders will be known in February or March, from when they will have until the last quarter of 2024 or early 2025 to build their plants and connect them to the electricity grid.
Industry sources warn that this is a tight deadline, particularly if any proposals meet planning or other objections.
A similar auction held in January of this year, also meant to secure supplies into early 2025, attracted bids from power plants with the capacity to generate 6,138 megawatts of electricity.
However, only about 25 per cent of this was new; the rest was from existing operators confirming they would continue to supply electricity, prompting Eirgrid to launch a second auction.
Power cuts
Karen Trant, director of energy networks with the Commission for the Regulation of Utilities (CRU), wrote to Eirgrid recently instructing it to prioritise grid connections for any successful bidders in next January’s auction that will be supplying power to the greater Dublin area.
Government, regulators and industry fear that growing electricity demand in the Dublin area will leave it vulnerable to power cuts if new suppliers do not begin providing power there.
Currently peak electricity demand in the State in winter hits 5,500 megawatts. Eirgrid has agreed to connect data centres likely to require 1,800 megawatts to the system, mainly close to Dublin.
It also has applications from facilities that are likely to need a further 2,000 megawatts of electricity. Legislation obliges the State company to connect data centres.
The CRU confirmed that it was working with the Department of the Environment, Climate and Communications, Eirgrid and Gas Networks Ireland (GNI) to “support security of supply during the transition to a lower carbon future”.
The regulator recently agreed to a request from GNI, responsible for Ireland’s natural gas supply pipelines, to spend more than €26 million on its networks to aid it in connecting new power plants.
According to the commission, this is to support efforts to attract investment in gas-fired flexible generation, which the regulator says has a key role to play in securing supplies during the switch to lower-carbon electricity.
Wind farms
Flexible gas-fired generators can switch on or off quickly to meet fluctuations in el
Hello everyone, been reading with interest over the last 2 months and have been quietly getting on board the XTR train, when do we expect the Hole 2 Assays to land?
ATB FACTORof10
For those who haven't heard this yet...link below to AL earlier this week.....still think the future is bright, just not as close as we had hoped...
https://www.share-talk.com/alan-linn-ceo-providence-resources-pvr-l-interview/#gs.n21doy
Come on Al & co...give us some good news!
slipping back again I see......mother of Jes*s let me off this train, its been years!.....6p more to go...GLAW
Worth a read, even though we now know Iolar to be dry.......Barryroe would seem to be the only show in town
https://www.offshore-mag.com/drilling-completion/article/14039001/northwest-europes-high-impact-exploration-wells-delivering-mixed-results
someone just made a £100K bet....that's a lot of wedge with such uncertainty.
what about option 4 Mamms? RNS stating new backstop of the 26th....not at the end of August yet.. confident the money will land, we don't get to see the full picture, PVR are obviously in daily contact with HSBC and APEC, who knows what factors are delaying the money, I'm sure they have documented proof, either side would have no interest in prolonging this saga, if the money wasn't in transit..
LOGP up 7%......incoming Chinese Yuan? I hope so!!!
I'm with Manyana on this, The DCCAE made the recommendation on the 23rd of July, that's only 2 working weeks ago from today, hardly an eternity in the public service....Tone has backed himself into a corner with all these backstop dates and looks the amateur now... The ministerial approval will come, it may take another week or even more, its obvious the Chinese are holding until they see it and I don't blame them to be honest. I have being trying to top up here and at LOGP for the last 2 days with very limited success..
This is PVR and the Barryroe roller-coaster....all aboard!
Tony needs to take a leaf out of Jerry Maguire’s book....
https://youtu.be/mBS0OWGUidc
Hup!! On we go....
A remittance was given, assurances have been given, I think the funds will clear, I have seen in my own business that international funds take 3/5 working days, post remittance, to clear to the account. I’m going to take the opportunity to top up today.....
The Minister Yesterday speaking about Brid's proposed Bill.....
Speaking before the Joint Committee on Communications, Climate Action and Environment, Minister of State for Rural Affairs and Natural Resources Seán Canney outlined some “policy implications” of the Bill.
Canney noted that as part of its role in meeting the goals of the Paris Agreement, Ireland has a target of a 30% reduction in greenhouse gas emissions by 2030. He said that there “still will be a need for some oil and particularly gas out to 2050?.
“If we know and accept that we need some oil and gas during the transition to a low-carbon economy, then there are several clear benefits of using indigenous sources over imported sources,” Canney said.
Canney said it has “a less harmful impact on the environment, as energy does not have to be moved over long distances, the State will get a tax return, which is up to 55% in the case of the most recent licencing terms, and there can be obvious energy security benefits as seen by the Kinsale and Corrib gas fields”.
He also noted that the All-of-Government Climate Plan will be shortly finalised and will outline how it “intends to make Ireland climate resilient across our entire society”.
“This will involve setting climate goals in all key sectors, including electricity, agriculture, transport, industry, buildings, waste and the public sector,” Canney said.
I agree Manyana, having voted on Friday for the incumbent, I am concerned that the Green wave/narrative is becoming increasingly entrenched in peoples minds and is now beginning to affect political outcomes. It is miss-informed and I am glad that the minister responsible for exploration sign-offs, sees this also.
Ireland must move, and I think it should move, to a low carbon economy, the impending fines will be massive, but this can be achieved on the back of its own indigenous supply and not Russian Gas or Saudi oil. If Bride Smith or the Greens had full sway we would not be able to keep the lights on..
PVR continue to baffle and frustrate, they always seem to be one step behind, it seems that if something should fall from the sky, it would land on PVR and not in a good way. I'm in this since 2010, I'm hoping that the SP swings upwards on the upcoming (hopeful) drill, after that, I'll cut and run as the Green wave will make the commercial oil flow from Barryroe a very difficult and dragged out process. It is critical for PVR that FG stay in power to progress this, anyone else including FF will not progress the exploration agenda....
OPERATIONAL UPDATE STANDARD EXPLORATION LICENCE 1/11 BARRYROE, NORTH CELTIC SEA BASIN NOMINATION OF THE “COSLINNOVATOR” SEMI-SUBMERSIBLE DRILLING UNIT Dublin and London – February 1, 2019 - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Oil & Gas Exploration Company (“Providence” or the “Company”), today provides an operational update on Standard Exploration Licence (“SEL”) 1/11 that contains the Barryroe oil accumulation. The area lies in c. 100 metre water depth in the North Celtic Sea Basin and is located c. 50 km off the south coast of Ireland. SEL 1/11 is operated by EXOLA DAC (“EXOLA”, 40%), a wholly-owned Providence subsidiary, on behalf of its partners, APEC Energy Enterprises Limited (“APEC”, 50%) and Lansdowne Celtic Sea Limited (“Lansdowne”, 10%), collectively referred to as the “Barryroe Partners”. In September 2018, EXOLA and Lansdowne signed an Updated Farm-out Agreement (“FOA”) with APEC which provides for a fully cost-carried firm programme comprising of the drilling and testing of four vertical wells and one horizontal side-track (collectively the “Drilling Programme”), plus the optional drilling of two additional horizontal wells (the “Option Wells”). Under the terms of the FOA, China Oilfield Services Limited (“COSL”) will provide all services and equipment required to conduct the Drilling Programme. RIG NOMINATION To effect this Drilling Programme, the Barryroe Partners can now confirm that COSL have nominated their 6th generation “COSLinnovator” semi-submersible drilling unit, which is currently based in the Norwegian North Sea. The first well in the program, subject to regulatory consent, is planned to be c. 4.3 km west and c. 25 m structurally high at Base Wealden level to the previous 48/24-10z well which tested c. 4,000 BOEPD from a vertical 7-metre reservoir section at this level. This well is then planned to be sidetracked to drill and test a prognosed c. 200 metre Base Wealden section. Well-site survey operations are planned to commence during Q2 2019, subject to regulatory consents. Commenting on the announcement, Tony O’Reilly, Chief Executive of Providence said: “The rig nomination allows us to progress the rig-related consents for the upcoming Barryroe appraisal drilling programme. Subject to the receipt of all necessary regulatory approvals, we currently envisage rig mobilisation and drilling commencing during Q3 2019. The Barryroe partners look forward to working closely with COSL on the execution of this major drilling programme and further proj