Member Info for Odins

What the hell are they playing at?

“As previously stated, we will not issue new licences to explore new fields. We will also not revoke existing oil and gas licences and will manage existing fields for the entirety of their lifespan."

That is in response to the city AM article.

If you read further on the matter, the green meanies are lobbying Ed milliband to retract all current licences too.

Again Simon, I admire your relentless optimism. But the truth of the matter is that we have a pathetically weak government who are in the pockets of the unions and green lobbyists.

Thing are not going to get better for at least another five years.

Afternoon Simon,

Oddly enough I had just read that article just before my previous response.

If you read it fully, you will see that the failed bacon sandwich chomper wanted to stop the progress of the development of those two fields. His boss stopped him.

For what reason Stassi Starmer allowed it to go ahead is currently unknown. Could be that the current government could well be sued for loss of earnings, or it could be that he is going to get a payday out of it somewhere.

Most likely the latter, considering the punitive windfall taxes in place.

Good Morning Simon,

While I admire your relentless optimism regarding RBD and the now outdated SP forecast. The sad reality of the situation is that we now have a socialist government who are hell bent on destroying the UK O&G industry.

Ed Milliband would rather import LNG from the USA than use our own considerable reserves, which as your links rightly point out are far less damaging to the environment by virtue of being right under our feet.

Like all politicians of any rosette colour, they are all out for themselves and will line their pockets and the pockets of their friends with our cash. All the while telling us that we are being taxed out of existence for our own good.

The reality of the situation is that Ed Milliband has contacts in the US LNG supply chain and is looking at a nice lucrative directorship or honorary vice presidency in return for destroying our O&G industry.

Always follow the money. That is where the truth will be.

Morning Itsawrap,

There is also option e. Raithlin are bought out by parties unknown for the WN licence and they walk away with full pockets. The licence is then sat on for the foreseeable or until the punitive taxation on O&G is lifted.

This is however rather remote as the current government have decided in their infinite wisdom that we no longer require gas to heat our homes and to completely decimate the UK O&G industry. Putting 200,000 people out of work in the process.

This may well balance itself out, as come a harsh winter we will have considerably fewer OAPs using gas. Because, thanks to the current government they will be dropping like flies from hypothermia.

An RNS really doesn't get much better than that.

Let's see how the market reacts today.

Not quite true about UPL.

Their SP collapsed over the last couple of days due to the local petroleum authority letting slip that UPL didn't have the licence in the bag, but was to tender along with other companies for it.

Therefore UPL do not actually have the licence, where SNDA do.

Oh how I wish the offer from SOU was still on the table at 1.5pps.

Maybe it is, maybe it isn't. Maybe there has been some advance on that from another party.

Compulsory purchase requires compensation, otherwise it is just theft.

Afternoon Paul,

I do hope the Liebour party nationalise WN. They seem to be spending our money like it's going out of fashion on everything else, so why not.

If they do so, they will need to compensate the owners at the current market rate.

Remind me. What is 200 Bcf worth?

Afternoon Ocelot,

Because that may take too long for whatever the potential buyers purpose may be.

Still, this is purely hypothetical.

I would love to know what that inorganic growth is all about though.

Morning Ocelot,

Not if it was a cash offer for the company outright.

Morning all,

There is definitely something going on in the background here. The SP usually wouldn't budge on £5k worth of trades, let alone elevate by 12%.

It may be interesting to see if this the 'inorganic' growth that has been mentioned finally coming in. It would also be interesting to see if Lady of aim is right in terms of a large acquisition.

What she doesn't mention is which way that acquisition is going. Are we buying something or is someone buying us?

Evening BP.

Just wanted to stop by and thank you for your answers to my questions the other day.

Much appreciated.

Afternoon BP, as an aside and considering your knowledge of wells and drilling. What would you say the depletion of the well would need to be in order to repurpose it as gas storage?

Would this be defined as a set pressure or as a percentage level of depletion?

Afternoon Wasred,

You and me both. I am more or less fully loaded here and like everyone else, awaiting that red dot of joy before this goes skywards.

Why would there be an RNS?

Wouldn't be expecting one until the financing is sorted.

Morning Kawasaki,

I would say come Christmas time we will all be enjoying the warm glow of hypothermia during the rolling blackouts and trying to cook the Christmas turkey over the last of our state rationed earwax candles.

Any advances on that?

Morning Paul, Morning EB.

I see you both right on this one.

1. The company isn't finished, but the country is. Welcome to new Venezuela!

2. Under our new communist overlords, there is going to be a big push for clean energy under their green raw deal. When that inevitably fails and we start to endure rolling blackouts, the onshore and north sea gas sectors may well be nationalised in a panic before the energy riots start.

However, in order to nationalise a private asset, the owner of that asset has to be compensated and the cost of that has to be negotiated. Possibly a plus for us, assuming S&S don't sell out WN for 50p and a pound of grapes like they did Victory.

3. S&S may actually have played a blinder by having a gas asset outside of the UK and therefore outside of the punitive tax grab heading full steam towards the UK O&G industry. This is purely coincidental and in no part owing to anything other than blind luck. ie being in the right place at the right time while holding a golden ticket.

Time will tell. But I see the possible positives here as well as the equal shares of misery that we are all going to have to endure over the next five to ten years.

GLA

Strap on or strap in?

Your call. :)