RE: re RNS22 Dec 2021 20:42
ps200306,
You state "the existing gas production infrastructure has been dismantled".
I don't think you are correct. The schedule for decommissioning is as follows:
"Kinsale Energy has developed a comprehensive plan to decommission all of the Kinsale Area gas fields. The offshore decommissioning activities are expected to be completed by 2023, having commenced in July 2020. The onshore works at Inch Terminal works will occur over a much shorter period (less than 6 months) during 2022."
As for OPL/1, if Providence gets the approval from the GSRO it is waiting on it can apply to have OPL/1 added to the Barryroe field as nobody has ownership of it since, as an extension of Barryroe it has to be below 4,000 feet so why can't Providence drill inside the edge of Barryroe adjoining OPL/1 as once Kinsale has released its Seven Heads field there is nobody who is going to take it over unless KEL sells itself, en masse, but who is going to buy a defunct gas field other than to store gas in it?
In fact, Kinsale did not own the full rights to OPL/1 because they were limited to the the sea bed down to 4,000 feet below so they could not drill the well themselves below 4,000 feet. It was only Providence who could go down beyond the 4,000 ft level. That is KEL did the deal with Providence because KEL could access the top but not lower down.
And, by the way, you do not have to talk about Sadaam as Ireland had its own sneak action years ago when Tara Mines scr*ewed Bula when they "stole" ore from across the river in adjacent land in County Meath. In fact, Tara continues to exploit that situation to this day.
https://www.irishtimes.com/business/end-of-a-mining-saga-spanning-four-decades-1.1088686
Sign In
Follow the stocks
