Member Info for MarktheSpark

Will the SP reach 2000 this week? Just another figure I guess but it would be nice to get that warm feeling!

Yes and API stats this evening reported a crude stock draw against an expectation of a 3mb rise. So not much to stop another rise in oil company shares tomorrow and if the draw is confirmed by the more official EIA stats tomorrow that should help to solidify the trend. I sure it will take a shale gas success story to really set Igas alight ho, ho but at least the promise of decent conventional revenue come the next hedge will help to maintain positive sentiment.

Seriously there's a whole lot of geopolitical news, taken together with increasing Far East demand and OPEC cuts, that suggests it's "risk on" in the oil market. North Korea - oh shit! Potential collapse of Venezuela's economic structures after US sanctions and probably debt default. Turkey threatening Kurdish exports. Nigerian negotiations with Delta separatists breaking down, may lead to more pipeline sabotage. Potential return of US sanctions against Iran. Continuing stalemate in Qatar vs GCC dispute.

Brilliant Dick, a sentiment I share - the best I can say is that my investment has given me a new interest and hobby, the whole oil and gas market thing is just fascinating, find myself Googling "oil price news" at least 3x a day. However I cling to the believe that there's a decent chance of getting at some money back - assuming the Cuadrilla frack doesn't rock Blackpool Tower during the finale of Strictly. GLA

Well it's probably a IGAS specific factor because Edr (a similar but smaller company) is not rising anything like as much. I guess the analysts have run over the figures from the interim report and reported favourably. Yes probably more to come dependent on fracking outcomes, court decisions and the price of oil.

And on the conventional side, crude oil prices look set to continue their rise with OPEC agreeing an extension of their supply cuts. Demand also increasing markedly this year. Once the effect of the US hurricanes have been cleared from the market we should see another run down in US stocks. Perhaps most importantly IGAS are now on a sound financial footing (see "going concern" section of results) with the opportunity to make new investment decisions both in the conventional and unconventional sector. I know they cancelled new drilling at Bletchingly (north of Horse Hill) during their troubles so maybe that will be considered again.

I guess the competition authority's approval of the Wood merger puts Weir in the frame as a takeover target. It's said to be the perennial takeover prospect. With rising profits expected, low but rising pound, and prospect of orders from the hurricane and European refinery clear ups then somebody must be checking the numbers. What better time?

Report in the Sunday Times that Third Energy have appointed Lazard to explore their future finance options including a stock market listing. They have also appointed Lord Gadhia of Blackstone & Keith Cochrane, ex-CEO of Weir to their board. Looks like a pretty confident outfit. If there is a float it will help to value the assets of Igas and Egdon.

Can you tell us which project this is, or is it just idiotic fake news? However one true story is BP have just announced two large new highly productive gas projects in Australia and Trinidad. Next big test for the SP is the API & EIA US crude oil stocks stats on Tuesday and Wednesday. The Saudi's continue to reduce their exports to the US targeting the influential US crude stock levels. If there continues to be large draws as the end of the driving season approaches this will begin to swing sentiment and we can look towards Brent $55, all things being equal, which they never are.

It's proved...fracking causes babies....US research shows increased childbirth rates in In rural pockets of Texas, Oklahoma, California and Pennsylvania, where families connected to fracking are reproducing at a rate that far exceeds the national average. The report's authors, Melissa Kearney and Riley Wilson, say this most likely reflects a feeling of financial security, giving families - particularly those of lower-income background and low education - the confidence and freedom to support a child if they wish.

Just to note that oil today is up 2-3% on various bits of bullish news....reduced rig count, crisis in Venezuela, lower dollar etc. Amrita Sen from Energy Aspects suggests that oil is about $10 lower than it should be (not sure if should is the right word) on fundamentals and that the market is overly focused on US production increases, which are not really remarkable compared to OPEC cuts, and not on demand issues. Also OPEC, and the Saudi's in particular, have only just begun to target exports to the US specifically and this targeting may help to continue the US crude reserves draw after the end of their driving season. I would expect there to be a change in market sentiment about O&G shares next week assuming all remains equal, which it never does.

Not sure about the tunnel vision, if there was a breakthrough in battery technology or in cheap safe modular nuclear plants then I would expect shale to become uneconomic, but since I don't see any sign of that in the near future I think shale could make some real contribution to the energy trilemma, that is how we create energy in a way which is sustainable, cheap(ish) and secure. This winter we will be reliant on spot purchases of LNG imports to cover periods of cold weather over a week since the closure of the Rough storage facility. Currently there is a glut of LNG but with the Far East in particular moving more into the gas market to address the political fallout from pollution (re-run of London 1950's) it may not be long before the market tightens with an inevitable increase in price. I note also that there are again concerns about French nuclear safety with the (outside) chance that our imports of French electricity may be impacted. Sorry to go on but just wanted to comment on Underhill's statement, headline news of course although one doubts if a similar positive statement about shale would have got any mention at all. I used to have a lot of respect for the BBC's impartiality but this sort of editorial choice strains that trust. Anyway as I understand it the shale deposits in the UK are much thicker than in the US although more broken as Underhill says. I'm no expert but I think the idea is that rather than use long laterals like in the USA we will more likely have stacks of shorter horizontal runs from a single pad, which will help with the U.K. smaller land area issue as well. Regarding gas bearing potential the greater depth of shale will enable the driller to focus on areas with the best characteristics. Of course we won't know how economic it'll be until we try but Cuadrilla got quite decent yield from their first efforts.

Wonder why Egdon is on the way up while Igas is down. They seem to be very similar companies to me, decent management, no or very little debt, a base in conventional oil and gas and both with very good unconventional prospects. ??

Digas you only post on the Igas board yet you are clearly not invested here. My guess you are just a green activist in disguise. How about a bit of honesty for a change.

Not sure if that comment's for me. What I meant was the message might be aimed at informing or advertising to larger companies what Egdon had on offer for those interested in investing or a take over, in particular that Wressle is not their only asset. "Decorating the shop front" as in getting ready for a Sale.

Maybe it's decorating the shop front.

Well maybe some of the demand will come from readers of Malcy's blog.... "Igas are now in a strong position to take advantage of the potential for conventional and unconventional gas resources in the UK."...and remember his predictions rose nearly 50% on average last year.

There's no need to shout.

Pet ownership in the United States creates about 64 million tons of carbon dioxide a year, UCLA researchers found. That’s the equivalent of driving 13.6 million cars for a year. The problem lies with the meat-filled diets of kitties and pooches, according to the study by UCLA geography professor Gregory Okin. Dogs and cats are responsible for 25 to 30 percent of the impacts of meat production in the United States, said Orkin. Compared to a plant-based diet, meat production “requires more energy, land and water and has greater environmental consequences in terms of erosion, pesticides and waste,” the study found.

Juvenile rubbish.