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Graham Stewart, Chief Executive of Faroe Petroleum, commented: “We are pleased to announce the sale of our Glenlivet interest to Total, which is in line with our stated strategy to monetise our exploration successes to the Company's greatest economic benefit. Total's West of Shetland gas development project to export gas from Laggan, Tormore, Edradour and Glenlivet is a highly capital intensive investment in infrastructure, and one of the most significant UK upstream investments in recent years. Faroe's timely transaction will release significant capital for investment in Faroe's high impact exploration and appraisal portfolio.”
..... http://www.newswire.ca/en/story/1411160/bnk-announces-operations-update
I am absolutely certain that this Company will have all the data regarding pressure and flow rates that you would like, trouble is you are not going to get it until they decide to give it to you. All such info is highly sensitive and commercially confidential. Any employee leaking this info would be sacked on the spot in my view. ALL the indications , other than SP, from people in the know suggest everything went as well as it could have done. 25 sucessful fracks in the sweet spot of deep shale with high porosity is very good news. Have they got the frack fluid right, time will tell. Is there commercial gas in Poland, yes of course there is and Poland and Ukraine are prepared to pay over the odds for it. Ten years of tax free profits to look forward to.
http://www.energy-pedia.com/news/poland/new-160745?editionid=101469
kenstaff, I would not touch it. It is loss making and China will soon be flooded with cheap Russian gas that Europe wont be taking after sanctions. It is also nothing to do with shale or Poland , so it is not appropriate to discuss further on here.
I fear this share may have pulled back from the 24 p level, where it has hovered for ages, because a number of "investors" have the attention span of a goldfish. This is going to go north but not today or tomorrow, wait and see what the 3 month test will bring. Are you that desperate to keep churning your investments relentlessly looking for the next deal? That way is a really good way to lose money IMHO. Be patient and get rewarded.
http://www.ft.com/intl/cms/s/0/e178031e-2cf4-11e4-8105-00144feabdc0.html
As I understand it , the fracking fluid will flow to the surface dependant upon a number of factors. More importantly is the quantity of proppant which remains within the frack, ie the volume of sand grains held in suspension in the fracture which probably will have been bonded together with gum or resin in the fluid. Getting the fluids out is one thing, but to have successfully fracked and successfully inserted vast quantities of proppant which remain in situ is more important. The liquid will either flow to the surface or may have leaked elsewhere such as into a watersystem, unlikely at these depths. It may however be that the pressure at that depth causes the frack to completely close, no gas comes to the surface. The vertical wells will have told the design engineers all that they needed to know. Type and depth of the shale and surrounding rocks and gas flowed to the surface from the vertical from a narrow well. For every foot of horizontal successfully fracked, that is equivalent to a foot width of vertical well bore. We have successfully fracked 1500 feet length. Imagine the gas from a 1500 foot wide vertical well bore hole. That is what this will produce, and there is no maybe about that.IMHO. Expect the flowback to take several weeks at least. The flowback must be measured to report to environmental agencies regarding volumes of water needing treatment (if not reused in another frack) and to know the amount of chemical required to treat the flowed back water. Proppant in suspension, and corrosive chemicals etc, must be removed before the water can be safely dumped. The recovered proppant from the well is an indication too of how much sand remained within the well, holding open the frack. The fact we used sand tells me that ceramic proppant was not needed, no very high pressure or temperatures encountered. Everything seems to be good news, relax and wait for a few weeks. I suggest you ignore this site for a while and read a long book.
Regarding the fracc G1lo, my understanding is that this was completed last month, the 20 stage fracc then went on to flow test after extended clean up. The results of the flow test are what we are all waiting for and in my opinion that news should be imminent. I do not know how long it takes for that length and depth of well to be emptied of fracc fluids. Once clean and gas flowing then news will be released only when flow rates have stabilised. As far as anyone is aware all has gone according to plan. The flow rates will indicate to us whether or not this is commercially viable. I agree with testpack3 that the timing of the announcement will be very soon but have no information to confirm my feelings on that.
This is an exciting time for this company. At the end of the 3 rd quarter the company will have approx 20p per share in cash in the bank, see AGM. Plus all the assets thrown in virtually for free. Gas has been found and flowed to the surface in all levels of all targeted areas. Multi stage fracc results soon and hoping for good news. None of the good news has yet been priced into the SP which just reflects the cash value in the bank and has hardly moved for ages. A solid investment and easy multibagger in my view. It is effectively a gamble to nothing.
What take over. This is all rumour. Shareprophets are hyping this share and say it may be a take over target without any evidence and give a share price target of 60p again without any evidence. Whilst I hope this share does well I have seen nothing to suggest this will fly as yet. When resources are proved , and planning constraints and Public Opinion have been overcome and exploitation plans are agreed and a Final Development Plan has been approved , then it will fly. We are not there yet IMHO. Could be years. Agreed everything appears supportive. Do not get carried away with the hype. DYOR
Change of government in India to a possibly more UK and business friendly political regime. Not too genned up on that subject but those in the know seem to think its good for us. Possible release of £1 billion in Cairn India would be a nice windfall and is certain to rerate SP