RE: Undervalued20 Dec 2022 19:12
Monet123: It's been here before and climbed to £1.10 in no time just based on fracking-hype.
Even w/o fracking it's worth at least 43p just based on oil alone, and brent is STILL around 80 USD.
An ex-CEO declared it to be worth 60p on oil alone, but when you account for geothermal and hydrogen enterprise value, this is certainly achievable (again). I worked out that you can quite easily get the same boe of energy from a geothermal well in the UK, at standard well-depth, and there is about a hundred abandoned wells, owned by nobody, around the country waiting to be tapped for geothermal heat, as well as the ones igas already holds.
On the UK continental shelf there are up to 1782 wells due to be decommissioned.
https://www.statista.com/statistics/749371/forecast-ukcs-oil-well-decommission/
What if they were allowed to be converted to geothermal wells too?
Why waste the wells that have already been drilled?