Member Info for ocelot

Paul Forrest holds 21.08%.

What "lack of insider investment" is wall sh** referring to?

Instead of thinking of another investment as averaging down, why not think of it as a separate investment to be treated on its own merits?

re Lidsey:

Is there a forecast date for oil production at Lidsey oil field ?? Asked on 2 May 2022

We have been test producing at Lidsey and continue to encounter issues with the well-bore – including wax buildup and issues with pipe. We hope to update further on this field, including the possibility of side-track, when the team resources can be taken off Saltfleetby which is currently and rightly occupying our overwhelming attention.

Question of probabilities, isn't?

Energy rationing in Europe this winter is starting to look all but inevitable ...

“The EU is now in the red zone as further demand destruction needs to take place,” said Thierry Bros a professor in international energy at Sciences Po in Paris. He estimates an extra 3% of demand needs to be cut.

The European Union has already created a voluntary 15% demand reduction target for gas, with the option of making it obligatory if needed. As energy ministers prepare to meet for an emergency meeting on Sept. 9, steps that seemed unthinkable before are now likely to be considered, according to EU diplomats ...

“It will be a challenging for Germany to get through the winter,” said Penny Leake, a research analyst at consultancy Wood Mackenzie Ltd. “It will undoubtedly result in demand curtailments.”

https://www.bloomberg.com/news/articles/2022-09-04/europe-looks-set-for-energy-rationing-after-russian-cut?sref=Em01M8Hr

We always hear about the impact of gas prices on households. Here's an example of the impact on business taken from Citywire's round-up of the morning press:

Mail on Sunday: Frozen-foods chain Iceland has been forced to shelve new store openings after its latest energy bill rose by £20m, more than doubling the total.

"The last-minute decision by Kremlin-controlled Gazprom to stop the crucial Nord Stream 1 pipeline reopening means prices could shoot up to new highs this week. Trevor Sikorski, head of natural gas at consultancy Energy Aspects, predicted prices would surge by as much as 50 per cent tomorrow". (From an article on the front page of the Sunday Times business section entitled: "Factories mull shutdowns as gas prices surge again").

It is true that they may be anticipating the new government will create new opportunities.

It is also true that, having achieved first gas, more opportunities are likely to be shown to them.

It was only the Russian invasion of Ukraine and rising gas prices that prompted intense lobbying for a lifting of the moratorium, ...

Agreed.

‘The industry wants planning reforms and I think they will pushing against an open door,’ the source said (from the Daily Mail article).

I think it is clear, if the government wants to encourage fracking it is going to have to take a second look at "present regulations".

Let me re-post my post of 09:53 re Liz Truss and fracking:

... A source close to the Truss campaign last night said lifting the ban (on fracking) would be an immediate priority if, as expected, she emerges as Britain’s prime minister next week.

‘It will be one of the first things that gets done – it could be within the first few days,’ the source said, adding that Miss Truss and her likely appointee as business secretary, Jacob Rees-Mogg, were also ‘open’ to industry demands to relax planning restrictions blamed for hampering the development of what could become a multi-billion-pound sector. ‘The industry wants planning reforms and I think they will pushing against an open door,’ the source said.

A friend of Mr Rees-Mogg added: ‘His view is that the energy crisis we are facing is worse than the early 1970s – the scale for individuals and businesses is very worrying ...

https://www.dailymail.co.uk/news/article-11175039/Liz-Truss-lift-ban-fracking-days-drive-boost-UKs-energy-supplies.html

thanks to Jugs0 on the Angus board

Your daily research involves reading a Turkish information site in order to find out about what the market is anticipating from this coming Monday's OPEC+ meeting!

Good luck with that.

Ibug,

If you remember, you brought Turkey into this exchange by posting an extract from a Turkish web site translated into English (your posts of 06:23 and 11:36), when the information you posted could have been found on any English language information site.

Ibug,

Turkey is not immune to energy cost inflation:

"Household natural gas prices have been hiked 174% this year, small- to medium-scale industrial gas prices were raised 277% and large industrial prices by 379%".

If you personally are immune to Turkish energy costs, then good luck to you.

If you are, then you, too, will have experience of energy cost inflation:

https://www.reuters.com/business/energy/turkey-hikes-electricity-gas-prices-by-50-industry-20-homes-2022-09-01/

Ibug,

Are you based in Turkey?

Are you based in Turkey, Ibug? Is that why you posted the translation into English of an extract from a Turkish information site?

I take it you live on a pig farm with the number of porkies you tell. UKOG don't have 100% of 4 of those licences.
--------------------
Where did I write that UKOG have 100% of all the licences in which they have an interest?

It's easy to criticise a poster for words he didn't speak.

Make it 488.5 square kms.

https://www.ukogplc.com/images/assets/Latest%20UKOG%20Assets.pdf