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My post of 26th Jan "Just a couple of predictions ..... Within 3 years energy shortages and/or high fuel prices will be a headline issue. Within 3 years Elon Musk will have over-promised and under-delivered and be out of business." From the Sun today. "Power crisis as demand for gas soars
y" closely followed by Page 3 "MANDY, 23. Looking great in her Liberty bodice" 😉😉 . Will probably have to wait a few months for Mr Musk but I notice Bloomberg are on to it, starting a reality check on the output of his megafactory.

Did anyone see Putin�s speech today about his expansion of nuclear wapons? The U.K. gets 38% of it�s gas from European pipelines, some of which originates in Russia. After listening to Putin�s words does anyone think he wouldn�t use his command of Eastern European gas supplies as a weapon to further his �Greater Russia� political ambitions putting the energy security of the U.K. at risk.

Good to see the PM supportive. Evidence for supply security problems... From the National Grid's document Winter Outlook 2017/18.... "We expect there to be sufficient gas available from a wide range of sources to meet winter 2017/18 demand. " Whoops. I don't want to be alarmist but today we are significantly dependent on medium term storage which lasts, I gather, about 10-12 days at full output without refilling. There are no LNG cargoes due in the UK in March. It's possible that the less cold weather due early next week will ease things but if not I would expect a significant run down of supply to industry to protect domestic supplies.

From Bloomberg "Traders in Europe�s were scrambling for gas on Wednesday, sending prices soaring as freezing weather exposed supply issues. UK and Dutch gas for same-day delivery more than doubled to attract extra supply needed for heating. Britain is now more reliant on the rest of Europe for its fuel as it closes its Rough long-term storage facility, unplanned outages added to the supply problems Pricing reached �extremes,� said John Twomey, a power and gas analyst at Bloomberg New Energy Finance in London. �The UK is being outcompeted by other markets on the continent that are also undergoing stress.�" I notice from Gridwatch that the coal powered generators have been going full bore for a few days whilst the gas stations are (unusually for other cold snaps) only at 75% in peak periods. Just a guess but maybe the gas supply is so stretched that the Grid is directing gas into domestic supply. We are reassured by one trader that "the UK will not run out of gas" but all this after just one week of severe weather - thank heavens it's not 1963.

The BBC forecast a long cold spell extending at least into early March with lowish wind speeds especially at the end of the period. It will be interesting to see where gas and electricity prices go in this period and what contribution is made by renewables, also whether the market can attract LNG cargos.

I think the government will limit the density of well pads and in any event new technology and the greater thickness of shale deposits in the UK compared to the USA may help to reduce impact. Of course there are already 150 sites and over 200 wells in the UK. At the same time we are importing liquified natural gas from Qatar by sea and importing gas via pipeline from the European system which relies heavily on Russian gas. That's Russia, run by President "Let's plan for a greater Russia" Putin. Whether you're a Remainer or. Brexiter it's clear that in order to remain prosperous and support Government services, the U.K. will need to take advantage of it's natural assets. The US has benefitted mightily from their shale revolution and IMHO we can't afford to miss out.

Personally I'd have no objection to fracking in my area, as long as it was subject to the same environmental and planning regulations as applies to any other industrial development. Fracking isn't going to be allowed within a reasonable distance of housing just as new factory development isn't allowed. Why should I object to a 6 inch pipe running horizontally a mile under my house. I already have drains, sewers etc much closer to the surface just as everyone does. In East Dorset there is a 5 mile horizontal oil well running close to some of the richest residential land in the country and nobody gives a hoot. By the way I happen to live near Heathfield in Sussex where natural gas was drawn out of the ground from a shallow well and used to power the lights in the railway station (now disused) for many years. That began in 1896! Google it if you want confirmation. It's also noteworthy that in the later part of the Second World War dozens of oil wells were drilled around the Sherwood Forest area and produced thousands of barrels of oil that contributed to the war effort. No significant damage resulted in the area as far as I'm aware.

Looks like Greg Clark is taking his policy guidance from the pollsters and hoping to grab a few "Green" votes rather than consider the actual future energy security of this country. Spineless idiot. With the Labour Party being taken over by Momentum and the Tories preoccupied either with Brexit in-fighting one wonders where any sensible policy making will come from. Only Teresa May seems to represent old-fashioned honest, patriotic Conservatism but I suspect she is a weighed down by lack of cabinet support and her ill health. Off to put my head in the gas oven, no Thank Heavens, it's natural gas!! GLA.

Another sick joke, delay the best energy innovation the country has seen since the North Sea because of concerns about financial viability, close on ignoring such concerns about Carillion which put 20K jobs at risk. I know let's delay the businesses for so long they get into financial trouble then refuse them permission to continue because of financial instability. I could spit.

It's ironic that this morning's weather clearly shows the need for back-up fuel supplies in the UK. Solar of course providing almost nothing and wind, because it's calm, barely 2% - the gap is being filled by gas at 60% (near full capacity) and coal (soon to be closed down) at 10%. On top of this, this morning's warning from the Defence Secretary about dangers from Russia - which is increasing gas exports of gas into Europe. Just a couple of predictions ..... Within 3 years energy shortages and/or high fuel prices will be a headline issue. Within 3 years Elon Musk will have over-promised and under-delivered and be out of business.

Correction..... "further WEST as well such as Ince Marshes" not esst.

If you look at Figure 44 of the BGS paper linked to the Cuadrilla press release you will see areas deemed prospective for shale gas across the North of England. The Gainsborough Trough is underlain by a thick layer of Bowland Shale at a depth which would generate sufficient pressure to release the gas. Only drilling will see if it's truly productive but the signs are good...otherwise they wouldn't be exploring there!! Igas of course do have licences further east as well such as Ince Marshes. I did actually hear an interview with a BGS geologist a few years back (sorry haven't got a link) who said he thought the eastern areas might actually be a better bet than the Blackpool area. Just out of interest I think what's required for productive shale is sufficient depth, decent organic content of the right type in the shale, sufficient "crackability" for fracking to take effect and enough porousity to allow the gas to flow smoothly through the rock. You can measure all these things from rock samples so I expect when Cuadrilla say they are excited about their drill cores they mean that their measurements are in an OK range on these measures.

Credit Suisse say now is the time to move into oil field services which should show a steady three years of growth from now on. All looking good for the market for many of Weir''s products and services. Brent Crude Oil at $69 tonight.

Very large drop in US crude inventories reported by the API this evening presumably a result of their very cold weather in the north-east. Brent now over $69 and if the drop is confirmed by the EIA on Thursday this price should firm up. It's looking like IGAS's next hedge could be quite profitable.

Well done Pipk Weir has more than met your prediction. By the way In an interview with the Financial Times, the CEO of Shell said the companiy's growth of both oil and gas revenues will depend on shale development over the next 10years. Must be good for the frack pump side of Weir's production.

In an interview with the Financial Times, the CEO of Shell said the companiy's growth of both oil and gas revenues will depend on shale development over the next 10years. He did not mention the UK but surely this sort of attitude must be positive for shale in the UK. See Oil Price News for the content. In spite of the recent reverse the majors must be looking at minnows like Egdon & Igas as takeover targets if only for their portfolio of PEDL's.

I think the next move will come, either from news of Third's drilling permission, or the results (or maybe even the date) of the Wressle planning appeal. It's interesting that Igas has moved up quite a lot, not sure why Egdon should be lagging behind. No doubt it will catch up.

I don't know whether you've noticed but this share is up nearly 20% in the last 2 days so I suspect some largeish investors are seeing 2018 as the year when shale exploration produces some results. I do hope you're in or you may miss out on the US shale revolution reaching the UK shores. It's a risk, any O&G exploration is a risk but the original Cuadrilla exploration and the analysis of the geology by the BGS is very encouraging.

Just to wish all Igas investors, and all Igas staff & management, a very Happy Christmas. Feels like 2018 will be a very important year for the UK shale gas industry so let's hope it's a prosperous one. GLA.

Reports this morning that the North-west Ambulance Service is getting really fed up with protesters at Blackpool calling out their service with faked or exaggerated injuries, also blocking the road so their vehicles can't get to emergencies at nearby villages. Maybe the media attitude is beginning to turn more positive - about time!