Member Info for MarktheSpark

It’s worth watching the weird video of the core effervescing with gas like a giant Alka-Seltzer. I’m no expert but If it fizzes like that at normal pressure, imagine what it could produce at the pressures produced 2000 metres down.

Just a rant - up until recently I’ve had enormous respect for the impartiality of the BBC but on energy issues they’ve come unstuck. This morning they ran an article on the plan for 30% of our electricity to come from offshore wind by 2030. BUT NOT A WORD about the intermittency problem and where back-up or storage facilities might come from or who might pay for it. Feels like we are sleep walking into an energy crisis.

Yes wishful thinking but production up over 100% since last summer and Springs Road and Wressle coming up this year the outlook is not so shabby.

Usually spread is inversely related to the number of trades in a stock. Low volume of trades equals high spread. EDR is in the doldrums at the moment awaiting I think the IGAS / INEOS drill results so high spread. If we get market action after news you will see the spread drop. I guess it takes some optimism to invest at spreads of 10% +.

BTW my memory of previous drills was that technical data takes about 4 weeks from cores being extracted to results so we should expect an RNS message pretty soon. Let’s hope the INEOS announcement in the Sun was based on some preliminary eye-balling.

On the supply side - USA crude stocks declined significantly this week and are likely to continue as Saudi exports began to be restricted from the beginning of the year - this and the OPEC squeeze generally will begin to impact on Brent and WTI prices.
On the demand side - less predictable - Trump may be looking for an end to the China tariff dispute with some cosmetic PR gains which would create optimism. However more important for POO and the world economy generally is the possibility of the end of the debt bubble in the USA and China which would throw us back into a 2008 situation. See the often excellent Evans-Pritchard in the Telegraph.

Oh Bugger ,

Looking at the Sun report it looks like the Springs Road preliminary findings indicate high levels of organic content which tends to correlate with productivity. The rock also has to be hard enough to fracture when pressured which hasn’t been disclosed yet, maybe not known until lab tests.
It was well known there were hydrocarbons in the Gainsborough Trough, after all they have been extracting oil there by conventional means since the Second World War, but we didn’t know if this extended to shale resources although the BGS predicted very high resource levels. It’s not clear which area in Texas they were comparing with but it all sounds very promising especially with Jim Radcliffe’s influence to push things through.

Looking at the Sun report it looks like the Springs Road preliminary findings indicate high levels of organic content which tends to correlate with productivity. The rock also has to be hard enough to fracture when pressured which hasn’t been disclosed yet, maybe not known until lab tests.
It was well known there were hydrocarbons in the Gainsborough Trough, after all they have been extracting oil there by conventional means since the Second World War, but we didn’t know if this extended to shale resources although the BGS predicted very high resource levels. It’s not clear which area in Texas they were comparing with but it all sounds very promising especially with Jim Radcliffe’s influence to push things through.

Great news for Igas and brilliant that John Blaymires, long time Chief Operating Office, should have this success to mark his retirement.

Encouraging RNS message.

There is an RNS message on the IGAS site giving quite positive info on the Springs Road site in which a Egdon has a 14.5% interest. More importantly it bodes well for the Gainsborough Trough generally where Egdon has most of its licences.

Yes, and if anyone knows where you can get free real time or nearly real time (I’m not a trader) NBP gas prices - I’d be grateful, thanks. I take a nerdy interest in these things, thanks.

Yes, and if anyone knows where you can get free real time or nearly real time (I’m not a trader) NBP gas prices - I’d be grateful, thanks. I take a nerdy interest in these things, thanks.

Just a point of information, you can get maps of the UK’s gas supply in nearly real time if you Google National Grid Prevailing View. I agree with the points you are making and also recommend Dr Mackay brilliant book which I think is available free on the internet. I’m not sure that your figures completely add up, most of our imports come from Norway, not the EU but perhaps importantly at times of short supply, “beast from the east” etc the supplies from Norway run up against pipeline constraints and we DO rely on EU and also LNG imports. It’s also worth noting that the National Grid in their Winter Review say that as Gas becomes more expensive it it is priced out of the electricity market by coal. In other words if you restrict gas supply you get coal so green opposition to gas really is shooting themselves (and the environment) in the foot. Cheers.

F....ed cable. Order a new one from Screwfix, delivery next day. Job done. ??

Personally I wouldn’t get over excited about the SP, yes we’ll get a rise on the hook-up, a bigger one on first oil but remember RT has said the output will need to be nursed more than from a conventional well so it might be a slower burn than some would hope for. Talk of 20k bd just sets up an expectation which first oil will not meet. Just IMHO.

I’m no expert but I presume we will know sometime on Sunday if the ship is hooked-up and staying on station at Lancaster. It’s forecast to blow 40mph on Monday so if not secure she will return to her previous safe mooring late Sunday. Any of you guys who actually know what they are talking about agree?

I’m ignorant on these things but could they be going for a weather window Thursday into Friday (bbc weather data for Lerwick - wind speed in single figures). They need to negotiate some heavy stuff to get there on time. good luck.

I used to work in risk assessment and one of the oldest, almost hackneyed, rules was that “nothing predicts future behaviour better than past behaviour”. With that thought in mind, would you invest in the people around this outfit?

On the operational side I see a lot of of nitrogen has arrived on site, maybe either for well stimulation or cleaning, but I only see accounts from the “eyes” of one tanker out. Good luck to them anyway, the U.K.plc needs all the help it can get.

I’d expect the SP to run in lock-step with the price of oil, as it did for most of last year, until near the hook up, or other significant news like a buy-in.