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Surrey. The ‘shale revolution’ was always bogus, built from ultra-low interest rates and QE. It was never a ‘revolution’ but simply Wall St in search of a yield with the flood of money from the Fed. The Saudi Energy minister Al- Naimi had, in 2014, described US Shale as economically unconventional. It is proving to be economically illiterate and may now even threaten banking stability within the US.
GKPhero On ADVFN
'Street talk is that GKP is sold. It will be anounced "when the time is right".'
In 2015 Sinopec told Bloomberg that they were watching an 'overseas asset' and would move 'when the time is right'.
So at SOC last month Mr Ferrier said that 25% of the OIP is in the fractures. Yesterday he said that most of the reserves are in the fractures. Do the Math.
A senior geoscientist, who attended the SOC event, told me that the sets of figures released on fracture porosity and the sets of figures released volumes don’t quite gel.
I find it disgraceful that whenever an awkward question is tabled to Ferrier, as in the SOC presentation, that he either says he wasn't there or that it wasn't to do with him. It really is rather poor school type behaviour. He should go. Pathetic.
So our bunch of wonderful middle managers have forfilled their obligation of keeping a lid on the shareprice. Just as Jon says he likes it. Let's not forget our original BOD knew what they had from the first drill.
BTW, where's Jaap? Doesn't he work for GKP?
Zahawi has a close and long-term relationship with Ashti Hawrami, the minister of natural resources in Kurdistan, once describing him as a “real visionary for the country”. Zahawi and Hawrami have appeared together at the annual Conservative party conference on at least two occasions.