Member Info for Joyride

30% of $15m is $4.5m net to Europa

@KCRCR I was hoping we are in a closed period pending announcement of a farmout deal. Ever the optimist.

SO suggested he should be the presenter - perhaps he should offer him the CEO role?

@Tovoc gas turbines which power our grid are 32-38% efficient from memory, so not a big difference

Fortunately, these are only 29% efficient - this is all about increasing the flow rate by reducing the volume of gas flared per barrel of oil produced. Electricity generation is a marginal benefit.

Looks cheap relative to chips

mates rates. Looking forward to PPI for MMs when the regulator eventually decides to call this in.

Maybe there is a corporate action keeping him busy?

@serif either that or it’s the markets usual reaction to a promotion event by our board

Anyone know how long after the spud date we are likely to know the results of the appraisal?

@Tovoc the raise for Serenity is for an appraisal not production there will be more raises (or farm downs) on the way to 25% share of production to Europa

Agreed, Phoebus, but I haven't seen anything from i3e confirming a Q3 target - just 'later this year'

@brezhnef EOG don't have a good track record keeping to timescales, especially when regulatory signoff is required. Anyone know what hurdles face us between now and drilling?

@tovoc I think you are confusing income and profit

Interesting article : "Simply neglecting the gas security position, and in particular its price dimension, leaves the UK with what I have elsewhere called its “first net zero energy crisis”.http://www.dieterhelm.co.uk/energy/energy/the-implications-of-the-russiaukraine-conflict/

@tovoc Thanks, that's what I thought. The next stage after a FEL is to award a Petroleum Lease. Is this a further opportunity for the Government to withhold approval, or does a FEL convert to a lease automatically if a commercial discovery is made? LV stated "if any commercial discoveries re made, the gas can be brought ashore" suggesting any required approvals will be forthcoming. See: https://data.gov.ie/dataset/petroleum-exploration-production-current-authorisations-onshore-and-offshore-ireland

@tovoc I didn't hear that, just the piece where he says existing licences can proceed but no new licences will be granted. Where did you hear that new projects are a no go?

A 5 year high would be >8.785p . Unfortunately, our directors will be happy with a liquidity event less than half that due to their options at circa 2.5p (from memory).

With our track record, there is no chance of getting any return on proceeds released from Wressle within ten years

Thats on the wrong side of the country for us. I assume it is cheaper to lay an electricity supply from the plant than a gas pipe to the plant?