GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
Lots of doom & gloom merchants here - I recommend reading UJO's RNSs from Q3 2021. same problems, similar solution (ceramic beads rather than sand). Result? highly successful clean-up which resulted in circa 800bpd compared to the expected 500bpd (op took 3 months). 2.5 years later the well is producing circa 665bpd.
poo currently circa $79 so every 100bpd is equivalent to almost $2.9m gross pa
Although the article casts huge doubts over the project (plenty of those already!), it's well known that the Abruzzo region is very vulnerable to strong earthquakes, so is the dam at greater risk from the known or the unknown?
Wressle had a similar issue in Q3 2021 (see UJO rns's), the operations and clean-up took a full 3 months but the result was excellent - well above expectations.
- as I previously posted, same issue at Wressle took 3 months to resolve - highly successful
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.