Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Regarding Wressle development - this is the "provisional" Planning Timeline issued by Egdon, so we may see the planning application very soon.
31.01.24 - submit planning application to NLC
Feb 2024 - Formal public consultation by NLC
30.04.24 - Target date for NLC to determine planning application
unknown - applications to NSTA, HSE & EA
Kawasaki, next thursday we'll have the nsta data for November.
- rns of 08/11 said production had resumed
- rns of 19/12 said "Prior to EA approval (14.12.23), production was constrained to delivering an average of 550bpd"
so November production should be 550x23 =12'650
Good company but relatively unloved by investors (at the moment). I first invested 3 years ago but have seen my investment slowly but surely diminish - a good time to invest imo, far more upside than downside plus an outside bet for a takeover
Uggy, like you I want Colle Santo to be a success but the Euro11m-12m pa projection is currently a fantasy with gas significantly below Euro45 mwh for most of the last 9 months. Of course the market price may be significantly higher by the time they come into production but how can LNe expect to raise Euro 16m based on Euro45 mwh when the current price is firmly below Euro30 mwh?
"but why do you think there will be a year delay between granting planning and drilling?"
sorry I didnt answer your question. the nsta/hse/ea permits will take months & months and that's once Egdon submit them - perhaps with Heyco is control Egdon will move a little faster but I doubt it. Just look at Keddington, how many years have they been about to drill???
Hi serif the document is not clear as to the timing - see page 14 - I dont know if Egdon will wait for an NLC decision before applying to HSE/NSTA/EA, presumably not a cheap endeavor.
https://assets-global.website-files.com/6385bf5acfc9c48d7f0b73c1/6564a4ee1398e4e77cdae48b_Egdon-consultation-pull-up-boards-compressed-.pdf
Regarding Wressle development - this is the provisional "Planning Timeline" set out by Egdon. I doubt we will see any site operations before H2 2025 and that's assuming the planning application is passed by NLC in H1 2024
31.01.24 - submit planning application to NLC
Feb 2024 - Formal public consultation by NLC
30.04.24 - Target date for NLC to determine planning application
thereafter - applications to NSTA, HSE & EA
Https://va.mite.gov.it/it-IT/Oggetti/Info/10561
Date of submission of the application: 09/01/2024
RNS 20.12.23
LNEnergy reported that on 20 December 2023 it filed the Environmental Impact Study ("EIS") for the new small-scale liquefied natural gas (LNG) development plan at the Colle Santo gas field with the Ministry of Environment and Energy Security. This is a further step towards achieving the granting of a production concession at Colle Santo.
"for no reason except the delay and market/shareholder sentiment." I disagree, 40bpd is hardly company making, that plus 30bpd is about $1.5m net pa, seems about right for an mcap of £12m imo. Having said that, I expect the sp to rise strongly in expectation of a successful well-stimulation, where it ends up depends on the post stimulation bpd.
Persi my 5 years investing in small oilers has taught me that RNS's are corporate b/s, the way to make money is to trade the spikes and not wait for the delivery. Just look at UJO, unusually Wressle delivered more than the promised 500bpd yet the sp is in the doldrums, UJO is worth less now than when it had no oil except 10bpd from Keddington. RBD will spike when we have news of funding for Rathlin, will I wait to see if WN delivers? hell no
Rathlin says they need £9m for their 4/6, that means £13.5m in total for the drilling. Why would anyone buy WN when it has yet to be proved commercial and will cost the new owner £13.5m to find out?
Just a reminder
" Reabold intends to use the net proceeds received to advance development of its existing assets, including the drilling of the key horizontal well at West Newton, and assess potential further acquisition opportunities. Furthermore, pursuant to the announcement of 31 October 2022, Reabold intends to make a distribution of £4 million of excess cash to Reabold shareholders upon receipt of the £9.5 million, the mechanism of which will be determined upon consultation with Reabold shareholders."
I don't believe they will fully honour this commitment, they may re-start the buy-backs for a little while and make a small special dividend, but splashing the cash on LNenergy does not leave them enough to spend £2.25m on WN for their 1/6, bankroll Rathlin for £6m and return circa £3.5m to shareholders. These numbers will only stack up if there is a farm-out by Rathlin or perhaps a loan facility guaranteed by RBD - all imo
Https://www.oedigital.com/news/510860-shell-makes-fid-for-victory-gas-field-in-north-sea