Member Info for MarktheSpark

Yes, the Straits of Hormuz is Iran’s big weapon and it will be very difficult to counter. Trump miscalculate, he thought the Iranian leadership would be rational deal makers and accept they were completely outgunned and capitulate, but when you have a rigid religious regime they may be happy too fight into martyrdom. By the way I recommend Jeff Currie’s piece on Blooomberg. He notes that the IEA may release 400 million barrels of stored oil, sounds good, but he says it can only flow out into the market at 2million barrels a day whilst the loss from the gulf is 18 million barrels a day.

Yes, as Milliband was talking wind and solar were producing just 7% of the UK’s electricity and gas was 67%. In this weather solar farms and wind turbines are just ugly reminders of Milliband’s stupidity.

A Labour spokesman has said the ban on offshore new O&G licences will be extended to onshore as well. In other words all these small AIM outfits like UKOG would appear to be buggered.

I took the opportunity to ask Google what was the average output from a horizontal oil well? The answer was about 25bopd. You will find confirming data in the EIA document “The Distribution of U.S. Oil and Natural Gas Wells by

Production Rate with data through 2022”. The enormous production by the US fracking industry seems to be due to the fact that there are 180,000 well! But do your own research.

It amazes me that the seismic risks of geothermal drilling are never mentioned in the media but fracking is banned because of similar risks. The Green blob strikes again.

i’ve lost shedloads on egdon and igas before that but i don’t blame mark abbott and his team for selling out. they must be utterly ****ed off with government attitudes towards u.k. onshore o & g exploration even after the warnings about energy security coming from the invasion of ukraine. after a while you get a headache from banging your head against a brick wall. i’d like to thank him for his efforts over the years.

obviously heyco are getting a bargain even at a huge premium to the sp and it says something about british entrepreneurs that they couldn’t recognise the potential. i suspect the big investors can’t see through the deadening green fog. but it won’t be until energy poverty, energy reliability and energy security fills the headlines as much as climate change that we’ll see the necessity of supporting projects like wressle and, more importantly, shale gas exploration.

Sounds like might be a good buy with oil price on the way up and commissioning of micro turbines now 8 weeks in. However I’m not sure what other work ( eg permissions) Egdon need to do before they increase production. It’s the announcement of that hoped for extra production that will give the SP a lift.

The new Department of Energy is, according to the Telegraph, charged with
“securing more home grown energy that is clean and affordable. Sunak said this was “mission-critical” for his government, charging Shapps with “securing more home grown energy that is clean and affordable, as fast as possible”.

Can’t be bad for Igas.

Labour have said they will ban all new O&G investment in the North Sea, so very probably also onshore. So a change of government will make things worse, God help us, rather than better.

Today Sunak has said he will create a new Department of Energy out of the BEIS with the new DoE changed with addressing U.K. energy security. I still think it will be a while before the government will embrace fracking but it looks like conventional assets might find the planning problems eased. Positive for Egdon?

The info is on epexspot.com. Tap on the three lines, work your way down through market data, market results til you get to a map of Europe, tap on the U.K. Prices are lower for tomorrow by the way.
There is also lots of data on bmreports.com, most of which I don’t understand.

Just for your interest, electricity baseload wholesale price for tomorrow (Monday) is £674 per mwh and between 6& 7pm it’s been auctioned at £2500 per mwh. Four main reasons, it’s a bit parky, wind is asthmatic, sun is feeble, and imported gas to power stations is pricy. It’s winter, hooda fort it!

Just for your interest, electricity base load wholesale price for tomorrow (Monday) is £674 per mwh and between 6& 7pm it’s been auctioned at £2500 per mwh. Four main reasons, it’s a bit parky, wind is asthmatic, sun is feeble, and imported gas to power stations is pricy. It’s winter, hooda fort it!

The 5 or 6 days from Wednesday onwards marks a test of U.K. policy. High demand period usually but also added very cold weather, low wind speeds and competition from France for interconnector flow. No word from the Grid or the government. My guess they will ask industry to cut demand to shelter domestic users.

The 5 or 6 days from Wednesday onwards marks a test of U.K. policy. High demand period usually but also added very cold weather, low wind speeds and competition from France for interconnector flow. No word from the Grid or the government. My guess they will ask industry to cut demand to shelter domestic users.

Keep taking the lithium Pass.

Sorry, Biden will not want to maintain high oil prices, exactly the opposite, he wants to combat inflation, oil price contributes to that. He wants to win the next election and that means feeding the US consumer’s demand for cheap petrol.

The next couple of weeks will be important for the oil price as OPEC+ meets at the weekend to decide if they want to cut supply again. Also the EU ban on Russian crude oil comes into force on December 6th with a ban also on the provision of maritime services such as insurance.

Not sure if this will effect IGAS but mid December is one of the two peak gas & electricity demand periods and the forecast wind speed looks quite low which may put even more strain on the Grid.

The Grid only issued another Capacity Margin Notice this morning. That’s two in the last fortnight and it isn’t even winter. In the whole of last winter we only had two in total. The middle of December and the middle of January are peak demand times so it will be interesting to see how they cope. This morning they were buying coal generated electricity which is usually a sign of stress in the system.

Yes the Grid only issued two Capacity Margin Notices in the whole of last winter and we’ve already had two in the last fortnight and it isn’t even Winter. The middle of December and the middle of January are peak demand times so it will be interesting to see how they cope. This morning they were buying coal generated electricity which is usually a sign of stress in the system.

The. Telegraph reports that “Britain must cut energy usage by 15pc to defeat Vladimir Putin, Jeremy Hunt has said as the country scrambles to head off potential disruption this winter.”. So now the Energy Crisis arrives front and centre, and we still leave millions of cubic metres of gas under the ground. I said on a another forum that the moratorium on fracking won’t be lifted until the Energy Crisis cuts through to the public as much as the Climate. It’s just about to.

Not much gas to light! The Telegraph reports that “Britain must cut energy usage by 15pc to defeat Vladimir Putin, Jeremy Hunt has said as the country scrambles to head off potential disruption this winter.”. So now the Energy Crisis arrives front and centre, and we still leave millions of cubic metres of gas under the ground.