Member Info for Ibug

ocelot
You really do need to move in an oil rich environment. It is one of our biggest exports and delivers a really nice living environment for the residents.
We even make our own water to grow grass. How green is that?

Yes. But other than that Loxley is supposed to be analogous with Horse Hill and Broadford Bridge. Neither of which have produced any gas of note. All the gas layers on all 3 sites are well above the the permissible fracking layer so not sure how anything said in Parliament has any bearing on UKOG.

ocelot
"We will end the moratorium on extracting our huge reserves of shale, which could get gas flowing as soon as six months from now where there is local support for it. "
"The first is a review of energy regulation to fix the underlying problems."
Nothing to do with UKOG then. I can see that. You can't. Not my problem.
Reabold has nothing to do with UKOG.

ocelot
You tell me. You seem to be the expert reporting items from the newspapers instead of doing your due diligence. I'm sure we all look forward to your next story.
There is a big difference between fact and fiction on this bb.

ocelot
That offer was made ages ago so nothing new. Wasn't it back in April?

ocelot
So what. It is nothing to do with UKOG.

Have lost count of what they have done with a similar structure at Brockham. How many wells have they drilled? 6+? How much water have they pumped back in? Tonnes of it. How much are they producing now? 6 bopd.

So I don't think anything they do at HH apart from drill more wells is going to make a lot of difference.

This one works though.

https://www.express.co.uk/news/science/1667237/energy-crisis-liz-truss-fracking-ban-lift-permit-shale-gas

can be found here rather than what is being made up.

https://hansard.parliament.uk/commons/2022-09-08/debates/6911DA71-90B4-466D-8B51-DF427AB29B53/UKEnergyCosts

What Mogg had to say in the house:

"Mr Rees-Mogg

I would love to give way, but time is very short.

We are fully committed to green growth and the green industrial revolution, and to net zero by 2050, but we have to get there, and to get there we are going to need oil and gas. We are therefore going to have a new oil and gas licensing round, which we hope to launch in October. I reassure the right hon. Member for East Antrim (Sammy Wilson) that we will work with communities and individuals to use shale gas as well, with the support of those who may be affected. The pause on extraction is being lifted through a written ministerial statement and will come into effect immediately. This will allow us to gather further data on seismic safety. It is fundamentally important, as any economist knows, that pricing is set at the margin. If you have more, it helps bring prices down. That is fundamental. It is not in any way contradictory to what we have said before. We will also have legislation to support people in Northern Ireland, which is fundamentally important. We must be one United Kingdom in how we do this."

And welcome to the fantasy world of Mogg.

Nothing has changed since they banned fracking so nothing is going to affect UKOG now the ban is about to be lifted.

Nothing in any new legislation will affect UKOG imo despite what what the twitchy ass brigade say.
Just get the usual signs of panic in the build up to xmas with money locked in here and no sign of getting it out at a profit. We have seen it for the last 3 years now.

Only 2 new accounts on here today and both still active. I wonder when it will kick off?

Should get some news on Basur/Resan this month as we head into Winter in Turkey.

ocelot
I don't need to calculate it. It's exactly the same as that at Loxley; 0.

Makes you wonder why UKOG aren't saying it. Perhaps they know more than ocelot does. In fact I'm pretty sure they do.

ocelot
The "expectations" in 2018 were what and how did that affect the promise to pay the 6%?
No mention of billions of barrels of oil at Arreton. Just plain %.

" We will commit to paying a 6% gross royalty in business rates and cash contributions to the local community and near neighbours."

Yes.

ocelot
Did you also check to see that they had promised it at Arreton, BB and Loxley as well.

HHDL has never paid the local community the 6% it promised at HH.

"HHDL is committed to paying 6% of gross revenues to the local community (including business rates to SCC). We are in discussions with the industry advisory body, UK Onshore Oil & Gas (UKOOG) and HMRC to finalise the details of this scheme."

Are they still in discussion?

But no time limit on this bit of the speech or who would undertake it. It is only a review of the regulations to start with.

"As well as the action that I am announcing today, we will use these two years ahead of us to make sure that the United Kingdom is never in this situation again. I will be launching two reviews. The first is a review of energy regulation to fix the underlying problems. We want a new approach that will address supply and affordability for the long term. Secondly, we will conduct a review to ensure we deliver net zero by 2050 in a way that is pro-business and pro-growth. That review will be led by my right hon. Friend the Member for Kingswood (Chris Skidmore)."