RE: Cambay29 Oct 2021 07:53
Hi QS. Just a couple of comments.
I remember you being very keen on the EIS. Indeed, at one point you said Cambay didn't float your boat anymore.
GOI approval expected in the coming months. Great to be reassured? Hardly, when it is now 7 months since we were told they were expecting it "In a favorable time frame". It is a ridiculous delay for something we are told is a rubber stamp. If someone had said on April 1st that it would be even 3 months there would have been widespread scorn. It is obviously not a priority for the GOI. You'd still think it might have worked it's way to the top of the pile by now.
77h. Those initial flow rates were promising but over time they declined to about a tenth of that due to the fracks closing up. All our hopes are pinned on the new techniques solving that and giving those multiple flow rates. The trial on 77h will really be the crunch time.
Not sure what you mean about the report answering questions about funding, other than strongly indicating that we need more pretty soon
I'm afraid you are way off the mark with your comments about the cash calls. It seems I was right to be sceptical, although admittedly not in the way, I originally meant. We are certainly not, slowly getting them banked. That 543k is all we are getting, and the final settlement, out of the 4.5 million or so in the original dispute. That was 4 or 5 wasted years under Joe, with each of those years losing an amount equivalent to the total amount. Wonder where we would be now if they had been simply written off in 2017 or 2018.
Not sure we get too many earthquakes in the UK that are big enough to be a concern.
Overall, although yesterday's report was very disappointing in terms of time scale and funding implications it doesn't mean it can't all still come good. Just going to be a bit harder than we thought. Still not impossible that GOI approval could drop at any moment and we move forwards quicker than expected. Atb. Gla.
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