Member Info for ocelot

From Bloomberg's market open round-up. Note the last sentence:

Flush with cash. Saudi Aramco posted the highest profit of any listed company globally. Quarterly net income jumped 90% to $48.4 billion, driven by high crude prices and production. Aramco will use the windfall to reduce debt and invest in a huge expansion of production capacity, but kept its quarterly dividend unchanged at $18.8 billion. It expects oil demand to grow for the rest of the decade.

... the Company now understands that, disappointingly, but perhaps not unsurprisingly, the claimant has been given a final legal avenue to appeal to the Supreme Court. Should the claimant adopt this final permitted course of action, it is expected to be heard some time from Q2 2023 onwards. No further action by the claimant will be permissible after any such hearing. Planning consent currently remains in full force and lawful oil production at Horse Hill will continue until further notice.

At the last count, five judges and the Court of Appeal have dismissed this case. Consequently, the Company and its legal counsel remain convinced that planning consent was granted entirely lawfully, and will, therefore, strongly contest any further action against its interests.

Following the Environment Agency's full Horse Hill production consent in May this year, a new Unico pump has recently been installed in the H H-1 oil producer. The prior pump is being refurbished as an additional spare. Preparatory work towards converting HH-2z into a produced saline water reinjector continues.

... Preparatory work towards converting HH-2z into a produced saline water reinjector continues.

... the Company now understands that, disappointingly, but perhaps not unsurprisingly, the claimant has been given a final legal avenue to appeal to the Supreme Court. Should the claimant adopt this final permitted course of action, it is expected to be heard some time from Q2 2023 onwards. No further action by the claimant will be permissible after any such hearing. Planning consent currently remains in full force and lawful oil production at Horse Hill will continue until further notice.

At the last count, five judges and the Court of Appeal have dismissed this case. Consequently, the Company and its legal counsel remain convinced that planning consent was granted entirely lawfully, and will, therefore, strongly contest any further action against its interests.

Following the Environment Agency's full Horse Hill production consent in May this year, a new Unico pump has recently been installed in the H H-1 oil producer. The prior pump is being refurbished as an additional spare. Preparatory work towards converting HH-2z into a produced saline water reinjector continues.

But the sad state of this message board, the ridiculing and trashing of nay sayers is a huge red flag to me.
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The naysayers have been active on the board for more than 3 years, there is absolutely nothing new about their presence on the board which says nothing at all about the progress being made at Saltfleetby.

A little green box has appeared above my last post.

Little green boxes on the hillside, little green boxes on the hillside, and they all look just the same.

Ibug,

What you call "spin" I call a statement of the obvious.

Oh well, ...

Think he was talking about the need for government to cut through the current regulatory regime in order to meet the future needs of the country.

The Sunday Telegraph: Sir John Armitt, chairman of the National Infrastructure Commission, suggested that ministers must overrule opposition from local residents, councillors and MPs to give new reservoirs a green light by 2025.

It's not hard to think of other sectors which would benefit from governmental initiative of this sort.

Sorry, was thinking of Alba's interims given we were talking about George Frangeskides's view of HH.

Can't read anything into interim results which have not yet been published.

Igas is up another 16.2%.

It's time the market gave more consideration to UKOG's pre-planned farm-out programme.

I quoted Alba because theirs is the biggest interest in HH after UKOG and because their Chairman expressed his thoughts on HH in the final results RNS.

We look forward to hearing of the Operator's plans for enhancing productivity and delivering on the inherent, and to date largely untapped, value of the Horse Hill Oil Field. (Alba's Chairman, George Frangeskides, in their Final Results RNS of 19/05)

vernonya,

If you don't see the term "farmout" in an RNS, take a look at that of 20/07 cited in my post of 17:45 of yesterday.

With respect to the June 7(th) 2022 grant of planning consent for the Company's 100% owned Loxley gas appraisal project the Company will now implement a pre-planned farmout programme, whereby the Company's costs would be either fully or part carried by any farminee ... (RNS of 20/07)
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Note what this statement doesn't say. It doesn't say that they are in exclusive discussions with one party in particular.

Presumably, therefore, there is more than one potential party involved which is what one would expect, given the performance of gas prices during the last year.

All I know is that South West Surrey is amongst the constituencies on the Lib Dems' target list.

Consequently, it is to be expected that the Lib Dems and the local Conservatives will seek to show the local population they are working to "defend" their interests and this, whether they believe in an appeal or not.

Their RNS of 20/07 was issued after the possibility of an appeal against the SoS's decision emerged.

With respect to the June 7(th) 2022 grant of planning consent for the Company's 100% owned Loxley gas appraisal project the Company will now implement a pre-planned farmout programme, whereby the Company's costs would be either fully or part carried by any farminee ... (RNS of 20/07)

and the front month gas futures contract is now up above 400p at 415p + 6.5%.

December is up to 550p:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253323