Member Info for MarktheSpark

I see on Google Finance EDR has dropped 100% and is now valueless whilst on LSE the price remains the same. Isn't the Google company now called Alphabet. Well U is for Useless. What's happened Goongle - it once was a good service but now needs a K-U-T-A.

I see on Google Finance EDR has dropped 100% and is now valueless whilst on LSE the price remains the same. Isn't the Google company now called Alphabet. Well U is for Useless. What's happened Goongle - it once was a good service but now needs a K-U-T-A.

No sign of the Saudis and their allies responding to Tillerson's agreement with Qatar to stop terrorist funding. They seem to be playing hardball. Hard to know what the Saudi objective is? Have they gone too far to lose face now or is there a hidden agenda, even something as bald as a land grab for gas resources? But would they risk a confrontation with the Turks and Iran? Whatever, it seems to me there is insufficient risk premium built into the oil price right now.

This week we’re almost all cooking with a bit of fracked gas. According to the Financial Times the first shipment of LNG From Sabine Pass in the USA arrived at the Isle of Grain Terminal around July 8th on LNG tanker Maran Gas Mystras. Almost certainly the gas would have been pipelined from one of the major gas producing areas in the USA, which means it’s as likely as not to be shale gas. So this week the gas will be moving into the system, either directly into our gas pipes, or providing the 40% of electricity that is generated from a CCGT station

Looks like you got your wish Rogue.... RNS today UK Onshore Producing Oil Field Acquisition - Fiskerton Airfield OIP 2.2 million barrels of good quality crude, assume a recovery of 10% of that at say a conservative $40 a barrel that’s $8.8 million revenue minus costs and taxes over the life of the well which would be about 25 years at 35 bpd and 250 days a year of production. Put another way if they manage to achieve the mid point of expectations, that’s 35 barrels a day, say 250 days a year of production at $40 that $350K per year over 25 years minus costs and taxes Probably got the maths wrong but seems an OK deal to me for $750K. If we make the hopeful assumption that the appeal in November is successful and results in a doubling of Wressle output then EDR is becoming a nice little investment.

Yes...Wednesday this week...meeting between the Gulf countries regarding possibly intensifying sanctions against Qatar. An article from the often green leaning Guardian newspaper on June 8th was headlined "Qatar crisis highlights rising UK energy reliance on imports". Qatar provides nearly one third of the UK's gas supplies in the form of LNG. Experts consulted by the reporter seemed to think exports of LNG will not be curtailed but the dispute has only worsened since the Guardian article. If the dispute were to escalate, one wonders if this would remain the case. So this being the case, should we really be missing the opportunity to begin the process of increasing our energy independence?

I presume the panel were so cowed by green lobbyists that they have passed the responsibility on to the appeals process at the risk of losing costs rather than taking the decision themselves. I wonder if this decision, if appealed, will be taken back into central government for consideration.

Unbelievable - bad news for Egdon, the shareholders and UK plc.....were there representatives of Putin and the Middle East sheiks on the panel?

Indeed, keep 'em crossed ...looks positive but it wouldn't surprise me to see the committee generate another delay such as a site visit or request for further information. Still Egdon have done all they can and the rest is just politics.

Sorry to state the obvious but why haven't you sold if if you don't fancy the stock - in fact you've still got nearly an hour to sell today and buy some Egdon, which have a good evens chance of going up on Monday or Tuesday after the planning committee meeting.

"Fracking won't happen for a while" ......in case you haven't heard Cuadrilla are already drilling the first stage of their well so they'll be ready to "hydraulically fracture" with the next month or so.

Absolutely agree Goldmap, Igas were stuck over-indebted when the oil price fell, they were not alone in that. Far from being "flea bitten" they showed brilliant financial acumen in getting themselves out of a very difficult situation. The future looks good both on the conventional side and for shale gas of course. BTW the situation in Qatar shows no sign of being resolved and indeed the UAE are threatening further sanctions. Any more disruption of LNG exports could effect gas prices in the UK and if the situation lasts into winter (when the UK is counting on imported LNG for nearly 20% of "cold day" supplies) then the situation would be serious. There are lots of countries who have taken strong positions in this dispute and dictators often have fragile egos. EDR planning permission meeting next week, if successful should be helpful to the Igas SP, then first shale gas production by Cuadrilla and/or Third by the end of Summer. This is AIM, don't bet your pension, but... bring on the fleas!

Agreed about the geopolitical risks. The SP rise today was encouraging especially as it was against the market and not a response to any RNS message. My guess is that investors are anticipating a positive outcome for 3rd July which would be a great step forward for Egdon. Regarding Qatar there is news tonight of possible attacks on Saudi offshore oil fields with the possibility that groups sympathetic to Qatar might be involved. It doesn't look like well meaning attempts at mediation are succeeding in calming the situation, I'm sure the Donald with his well-known diplomatic skills will come to the rescue 😉. I can't see that Qatar have any cards to play apart from disturbing LNG flows or garnering the support of Iran and/or Turkey.

Good news from first observations of UKOG's core sample at Broadford Bridge. Igas has sites in the same area, hopefully with improved financing they might be encouraged to explore further in the south-east.

That's really good news. British Steel have withdrawn their objections and the Environment Agency equally have made no objection. Looks like Egdon have played a canny game and given the Council a Get out of Jail Card regarding having to pay Egdon's expenses at the appeal. But no doubt the objectors will string things out as long as possible so I don't think we can count our chickens quite yet. Still might be some SP response next week, and certainly after the meeting.

According to the North Lincs planning committee website the next planning meeting is 26th July and the agenda hasn't yet been published. Could be the date you mention is the appeal - where did you get your info?

Auntie Frack, according to Wikipaedia "ethane is isolated on an industrial scale from natural gas and as a petrochemical byproduct of petroleum refining. Its chief use is as feedstock for ethylene production.". In other words ethane could be refined from UK shale gas. It's a refined product, just like petrol and diesel are refined products of crude oil.

Wood Mackenzie the respected O&G analysts suggest that as a result of Rough closure, reduced imports from Holland, the Qatar situation and uncertainties resulting from Brexit, there is an increasing likelihood of higher gas prices this winter and "it’s a perfect storm in terms of security of supply for the U.K.”. No joke this could be a big issue next winter. If anyone thinks that HMG will, firstly, ditch shale development, and secondly, be able to keep a cap on gas prices, they've got another think coming.

Be careful what you wish for. The only possible alternative to a Tory government would be some sort of "progressive alliance" dominated by the Labour Party which is anti shale.

The National Grid have just published their Winter Review for 2016/17 which assesses how things went last winter and begins to make forecasts for next winter. Basically the system coped OK, there was a variety oF supply routes and the weather was only averagely bad. Some points of relevance to shale gas (which doesn't get a mention). ... Gas demand for electricity generation rose 30% (massive increase) with a corresponding decrease in coal use. It will be interesting to see how CO2 output decreases as a result. With greater global availability of liquefied natural gas (LNG), they expected levels arriving in GB to be higher last winter but experienced the opposite, mainly due to an increase in prices on the East Asian market. Deliveries to GB had averaged 37 mcm/day in September but fell to just over 5 mcm/day on 1 October and then remained low until the beginning of March. In spite of this the Grid are relying on 50mcm/day (10 times last winter's supply) as part of their cover for "cold day" scenarios this coming winter. They suggest that "market intelligence" indicates that these supplies will be available this coming winter. . One hopes they aren't relying on the same "intelligence" they used last year. Note for example the powerful political pressure in China to reduce pollution leading to increased gas for coal substitution. They confirm that Rough long term storage will be out of action. They focus on "cold day" scenarios to model emergency supplies but Rough was intended more to supply cover during lengthier cold periods, probably over a week when medium term gas storage begins to run out. It seems the major fall back would be imported LNG supply which of course is market driven as above.