Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It will be very interesting to see how Ireland turns out. A lot to play for and PG is in the right place at the right time
Charter rates for FSRUs have increased by at least 50 per cent to between $150,000 and $180,000 a day since the outbreak of the Ukraine war, according to industry sources. Rystad Energy estimates it costs $40mn to $60mn per year to charter an FSRU. “Companies are in a bidding war [for FRSUs],” said Gordon Milne, managing director of FSRU Solutions.
I'm bored so looking at the probability over a longer term.
If we drilled 10 side tracks am I right in thinking the cost would be around 11milion ? Please correct me if I'm wrong on that .
Lets say half are not commercially viable .
2 are giving same as last side track = 2x 350
3 are giving a lower return = 3x100
That would give 1000 boepd
I'd be interested to see what the total return would be with let's say a 70% split in favour of the oil over gas along with the side track cost and natural decline.
This is a pure speculative stab on a wet Friday afternoon.
The main point being if we can fund side tracks and build up the overall amount of boepd we will see a re-rate .
Of course if the first few we side track are dud then we are all doomed ! But if successful ....... well let's see !
Off out with a beautiful refugee from Keiv tonight. A reminder of the real world.
Good weekend peeps !
24th February RNS
Plans for the drilling of the previously announced side-track at well WR-B1 are well advanced, with long-lead items having been ordered. The well is being funded from existing cash from current production.
It's been over a month since we were informed about the next side track. We have the funds for a few side tracks and until we can get going on them then the future of bloe will be unknown . We need to expand!
Any thoughts guys on how long ?
Sarah Collins report. 24th March
Ireland needs more stable and affordable sources of energy to keep the economy running smoothly and attract new investors, a state advisory body has warned.
Ireland’s dependence on oil and gas leaves the country “acutely exposed” to Russia's war in Ukraine, even if Moscow is not supplying our energy, the National Competitiveness and Productivity Council’s (NCPC) said in its latest energy bulletin.
“Current challenges faced by Ireland’s energy system have potentially significant implications for Ireland’s operating environment, particularly for energy intensive businesses, and Ireland’s international reputation as a location for foreign direct investment,” the NCPC said in its bulletin.
Ireland’s lack of adequate gas infrastructure also “raises concerns for security of gas supply” the NCPC said, while the forecast growth of data centres will be a “challenge” for security of electricity supply and the country’s 2030 emissions targets, the report said.
The Corrib field is Ireland’s only domestic gas source but it is set to run out in less than a decade. Ireland imports two-thirds of its gas from the UK, most of which is produced domestically or sourced from Norway.
Gas was the main source of electricity in Irish homes and buildings in 2021, according to Gas Networks Ireland (GNI), generating 46pc of total electricity needs, while the share of wind-generated power was 29pc, down on 2020 levels.
Ireland will always be reliant on gas to plug gaps in the power system on low wind days, even if renewable generation reaches the Government’s 70-80pc target by 2030.
Coal generated 11pc of Irish electricity last year, with Russia supplying 67pc of Ireland’s total imports of coal, coke and briquettes.
The EU is trying to reduce its dependence on Russian gas, oil and coal, and this week published new rules on joint gas procurement and storage.
Ireland has no gas storage capacity and can’t benefit from a joint EU move to buy more liquefied natural gas (LNG) from the US, Qatar and other international suppliers because there are no LNG terminals here. A bid by US firm New Fortress Energy to build a terminal on the Shannon Estuary has been held up, amid local and international opposition.
I was happy to get my email from Block with the Geogia link .
Regardless of what bloe do, one thing is clear . Morrocan government need resources and I think they will be more than helpful in many ways to Block Energy. Having a government willing to enter into a dialog can only be a massive positive. What they talked about was private but hopefully useful.
I also was pleased to see a poster on here confirm that we are drilling in Georgia the country and not in the USA, phew after 3 years holding it was a useful post !
Thanks Hepseal for your post .
In 2 weeks time we will see where we are in regards to progress .
Starting to get bigger buys but not the volume required
Have a good day and enjoyed a crazy Madrid football weekend !
There is an increasing amount of egotistical posting creeping into this BB . On one side there is the self appointed leaders of the free world types and the opposite side of the coin where you get the equally important types warning us of the dangers of not believing anything they say.
The people who are powerful narrators will give you a very eloquent and often useful insite into research they have done. However this is often tanted by the constant need to repeatedly tell positive stories of their highly successful business life .
Constantly saying how wonderful you are is a propaganda tactic and to be honest the more someone tells me how wonderful they are the less I trust. It is a one sided view of their life conveniently missing out their failure. It's why what you could call, 'the derampers' get upset.
There are of course the everyday investor who do a fantastic job in researching and posting their views of what they have managed to find and do not need to write " and we are doing it for free". They simple write the facts or, their personal take on something they have read, without needing to impress .
The research posted on here is useful. As is the amazing things on Twitter and other mediums. Thank you guys!
The "follow the breadcrumbs", is in my opinion, two things
One:
Look and you can see something. That will hopefully point people in the right direction
Two:
A subtle attempt to ramp. If you have something informative then post, if not then dont. It comes across as someone making out they are clever and seeing things other people cant see. Now you may well be right but unless you back it up with facts it remains a Ramp.
Been holding for over a year and consider this a gem of a share that of course has a risk attached. The director holds big time. That is telling
I spent last night with a friend who has just escaped from Kiev , her stories and video clips filmed by her and local people in her City is chilling. Her Mother is in Russia and watching Russian TV at the same time as talking to her daughter. Who is being bombed while a nice news person spouts lies.
This is just a share .
Thanks Hepseal
Be interesting to see what oil they are producing in Q1 then we can add it to the gas figur.
We would of sold off what we were storing and I guess the current oil will be stored or sold depending on demand.
There will be a healthy profit and I hope that is encouraging new investors.
Positive buying day but low volums .
We will also be able to see drop offs in production .
I hope we get information as to why we have not started the next side track .
Slowly but surely getting a turn around!
Geowiz....good morning and can I just say that maybe you should do some basic research .
Just writing random figurs is something anyone can write but needs to be backed up with facts .
Ok I will say Block Energy are now producing 1000 bopd a day and making 14 mil a year. .... am I right ? Of course not.
I've just chosen a random number and figure just like you do.
Your last reply was useful this post was not !
The Q1 result will give us factual information. That's what people want .
10,762,171 mil turnover
30 .27% and 0.28p rise
2-1 buy over sell
No late massive sell to bring down price
Very stable trading day
Who know what's in the mind of the Scottish duo but today we saw new buyers and maybe a few old taking a punt at this share
It tends to suggest that people are interested in O&G shares and maybe like what Block Energy are doing. They are less bothered by history and they are consider it as a new share to add to their portfolio
The ukraine situation has highlighted a massive need for resources .
The Q1 RNS will certainly be a good one
And my best friend is flying into Spain tonight so as I said .....
A good day !