Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Nation states justify buying Russian gas- when at the very least, their citizens have used micro nuclear and chemical weapons in the UK and no action has been taken by the Russian state? And the UK government claims, Russian agents of the state were the perpetrators?
CH had stopped appraising any other ventures for AST, yet the SR might have had an element of that through merger opportunities.
Compared to many oil and gas companies on AIM AST is still in a strong position. A couple of the self-styled social media bloggers were hell bent on de-ramping AST. Yet promote much shaker shares.
Amber Rudd issued a clear-eyed warning ahead of the EU referendum, saying that “countries such as Putin’s Russia use their gas as a tool of foreign policy; threatening to cut off supplies or drastically increase prices”.
https://www.telegraph.co.uk/business/2018/03/24/western-powers-feel-heat-russia-standoff-risks-energy-crisis/
Regional leaders are discussing the Balkans as a European gas hub. Slovenian steel manufacturers are mentioning the fact that all gas is imported and it is expensive in a time of protectionist measures.
Replacing coal for gas in power station is a move that significantly reduces carbon and other emissions.
Plant permissions de-risks the venture and alters Slovenia's energy security balance of power.
misiekm The process is iterative for the well re-entries in that ARSO may ask questions give opinions and seek feed back and clarification. It sounded like Colin was cautious about what he said and there is good reason for that.
It is more or less the same application granted on the same wells previously - so it is likely to be granted in the same way.
We know..
Takeover in discussion
Route to gas sales in place and working
ARSO agreed to fast track plant permit-(the route to supplying good percentage of Slovenia's retail gas)
No placing without share holders approval Chairman indicated SR has it covered (JV or Takeoever expected)
Significant interest in company and on going discussions
New Slovenian PM seeking to reduce red tape for investment
Energy security on agenda
Wells need work over after 2019
Many believe
Interest from major for JV or takeover
Energy security in region more paramount post Russian rogue activities and gas hub explosion.
Likely gas to replace coal in power station since new nuclear plant may not be built
Permit by October for gas plant
THEWHEELO The point made in the conference call was that (in the event of more than one offer) the board will put 'the offer' what they believe to be in shareholders best interests to the vote.
A vote will be on, for example, anything from primary bid, institutional investor, re-negotiation of current deal, farm out, merger / takeover or sale of Ascent Slovenia to private enitity.
Details of the contrct go to Ascent website, but INA have stated:
' Linking the production system in Slovenia with Ina’s production system in Croatia opens up the possibility of expanding upon the cooperation in the future. “This project is significant for INA because it increases the utilisation of existing production capacities of the company, and the processed gas will be placed on the domestic market. '
https://www.ina.hr/ina-starts-off-taking-raw-natural-gas-from-slovenia/13260
PG11 just needs the tubing moved or a cement squeeze to seal the aquifer this s the current opinion. PG10 has performed as expected but don't forget they have been shut in for years. Picking up this challenge is daily business in the oil and gas industry.
Permitting was a challenge yet the PM has been elected with one pledge of on a cutting red tape as a mandate and energy policy has conceded they need to be more self sufficient , cutting carbon, this gas could replace coal and a focus on renewables.
Would Petrol need a data room, or have to register interest? Could they leave it to the last minute? They might be ok with foreign investors, but how would they feel about a local competitor, would they counter offer? Although INA are already in play.
Recent work demonstrates that the two fields are in fact
part of a continuous feature on the flank of the Lovaszi field
anticline
In Hungary the same structure produced 50 MMblsof oil
and 230 Bcf of gas
Opportunity:
• 7 separate sandstone reservoirs
• APA 2P STOIP for 6 reservoirs
82 MMbls
• 5.6 MMbls produced to date
which is a recovery of 4.6% of
STOIP
• If 20% recovery 10 MMbls
remaining
APA Reserve Estimates:
• APA Petroleum Engineering
conducted a reserve audit of
Nemmoco technical.
• Audit limited to Petisovci field
area only.
• Reserves: MMbls
P(10%): 6,7
2P(50%): 10,7
3P(90%): 17,7
"Although enhanced oil recovery technologies and well research techniques should not be discounted, as they help deepen the knowledge of reservoir potential. With advanced technologies like 3D seismic surveying, new coring and well testing as well as software for data processing and simulation, it is possible to access reserves that were previously untapped. This helps build models to find ways to extend the life of a field that was deemed as depleted or economically unviable"
That is relevant here too but more so to neighbours the added point I want to make is that Slovenia's share of the basin is less exploited than some of it neighbors so there is still more untapped potential. Same geology but such low output of hydrocarbons!