Member Info for ocelot

... today, the GMB general secretary, Gary Smith, who has often supported fracking, said the oil and gas industry needed “plans not bans”.

He told his union’s annual congress today:

“We have to fix and secure our energy supply if we are to face down threats from authoritarian regimes in the world and find a workable way to achieve net zero.”

He said:

“our future requires a mix of energy sources – new nuclear, renewables, hydrogen, and oil and gas. It would be a huge mistake to put all the nation’s eggs in one energy basket.” ...

https://drillordrop.com/2023/06/05/leading-organisations-warn-against-new-oil-and-gas-fields/

It's all gone very quiet re Lidsey.

There was a time, before the near-doubling of the position in Saltfleetby, when Lidsey was thought of as a potential counter-balance to Saltfleetby within the asset portfolio.

?

Depends upon your time horizon, doesn't it?

Could David Lenigas be referring to a new mud?

Angus used such a mud to resolve the problems they encountered with the sidetrack at Saltfleetby.

ZYX098,

I mentioned the number of RNSs in this line:

"UKOG's projects are still there and, indeed, the opening months of this year have been rich in RNSs",

that is, as evidence they are not sitting on their hands but are actively seeking to advance their projects.

(July) gas up even more, + 25.7% at 69.05p

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419492

Substantial rise in the gas price now: + 19.7% on July at 65.76p:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419492

Last placing at 0.875p; closing price prior to that operation: 0.10975p.

UKOG's projects are still there and, indeed, the opening months of this year have been rich in RNSs.

Still don't understand the under-performance of the share price during the intervening period.

Quite a nice rise now: + 13.7% at 62.50p.

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419492

Front page of the Times

"Last week (Sharon) Graham, general secretary of Unite, warned that 'Labour must now be very clear that they will not let workers pay the price for the transition to renewable energy".

Front month gas has recovered some this morning, currently up 9% at 59.92p:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419492

Almost all trades this morning are blue, ie in the top half of the 0.12-0.13p spread.

Saudi Arabia's 1m bopd cut for July has helped the price of Brent.

Gas, for its part, currently up 8% at 59.35p.

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419492

Saudi Arabia will make an additional voluntary cut of 1 million barrels of oil a day as part of a deal struck by OPEC+ after hours of tense haggling.

Saudi Energy Minister Prince Abdulaziz bin Salman unveiled the reduction in a statement, once again managing to pull off a surprise. The Saudi move is the most meaningful part of the deal, which also includes an agreement to extend voluntary cuts through 2024 ...

https://www.bloomberg.com/news/articles/2023-06-04/opec-latest-fight-over-african-members-hangs-over-talks?srnd=premium-europe&sref=Em01M8Hr

PS: under Angus's stewardship, Saltfleetby has become the Wytch Farm of onshore gas production!

Https://drillordrop.com/2023/06/02/uk-onshore-oil-and-gas-production-in-charts-march-2023/

Can sympathise with shareholders in AAOG but nothing whatsoever to do with Angus:

When will the company buy AAOG with £42m tax loss allowance and will you expect problems from the chancellor with any new revised fiscal policy. Asked on 1 November 2022

We have never suggested that we have any plans to buy AAOG – nor do we. As to the Chancellor, we know as much as you.

Many thanks, ZYX098, appreciated.

Yes, as in so many of these more environmentally friendly solutions to provide energy, if the government wants to encourage them, it looks as if it may have to take some measures in their favour.

Stupid question, I expect, but what is ROP, ZYX098?

Re the Eden project, yes, so I believe.