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Fair bit of profit taking today which can't be a surprise considering where this stock was few weeks ago. Level off and then start moving north again due to the reasons it climbed in first place.
I actually can see us hitting the 19/20 mark this summer with the news cycle. They need to get the Biscathorpe site moving, Wressle application being announced imminently, oil price nice and high, govt going to sort out the planning fiasco for shale. Cuadrilla ready to go subject to last box ticked by govt. Tinker Lane progressing. Plenty of stuff happening. Hallelujah.
A few sparks trying to reignite the flames. If Wressle comes off this time and we see Cuadrilla get go ahead as well as more backbone from government this share will be going places again. Government should remove conventional oil from local council level.
The BBC lost all credibility years ago in my book, nothing worse than an organisation pretending to be impartial. They might as well just say left leaning and liberal with a pretentious undertone.
Reading your messages. Egdon fu***d up at Wressle but it was also during a political change of scenery in that councils now don't want any conventional sites on their patch. Combined with a weak Tory government and loonball Corbyn lurking around every corner. Ultimately the increase in oil price (which I've called right thus far) will see sites actually being worked on going fwd. Next piece of news is new Wressle application due this month. Stick your feet up for next few weeks.
Extension approved... 1 box ticked.
I'd suggest a combination. EDRs conventional assets were rated higher due to increase in oil price, new Wressle application, Mark Abbott being on cityfm and Cuadrilla getting closer to first track to prove viability. With oil at the price it is little company's like this look a tastier proposition to investors.
Yeah we've heard it before. Need facts now not more chit chat. The smart people amongst us know that it's worthwhile proving that shale can be conducted safely as well as being commercially viable but we are being held up by a vocal minority of locals and lefties. Unfortunately leadership via May is pathetic. Once the consumer credit bubble bursts business will have more clout and the lefties will be put in their rightful place, I'll let you choose which derogatory word to use. We did f up Wressle but let's hope get another bite at the cherry.
Planning application to be submitted in May. I'm guessing all points that caused us to f up last time will have been addressed. The cold spell has done us a good turn in bringing local energy sources to people's attention and I'd suggest conventional oil resources are a slightly safer bet for approval.
Agree.
Hi Mick. I actually have no fear of Corbyn getting in. Yes social media is awash with his loyal keyboard warriors and the Labour membership is booming but half a million is a drop in the ocean compared to population with a vote. I think you'll find next election the Conservatives retake their majority. Corbyn represents a part of society that can be summarised as a vocal minority. Mind you May is still intent on doing everything possible to mess up yet again. A lot of people on our side are keeping quiet as they feel Corbyn could get in. He has had his chance and he still fell way short. The Conservative party is more akin to a Liberal party at present which is no use when we are going through Brexit.
May has proven to be what I suspected, a dud of a PM. She doesn't have the backbone nor personal interest to push fracking or even conventional onshore oil. Her private secretary back in the day made the odd comment that if the industry could emphatically prove there would be no water contamination then they would probably be ok with it. Zero conviction unlike Cameron. That being said under Cameron we got the cap on legal fees for HC cases! She is also wasting everyone's time and money pretending she wants Brexit, she knows fine well any deal bar staying in customs union will be voted down in Parliament, meanwhile she can put her hands up and say she tried. This country is sinking fast, take London out of the equation and a very bad picture would be on full show. You want fracking to get going then start shouting for a replacement in Conservative party. Had Leadsom won we'd be way down the gas road by now.
Our weak a** government is slowly turning the death screw on this country. They are fixated solely with the financial services industry in London and are doing absolutely zilch to support other areas of business. I voted for Brexit not because of immigration or because I don't like my fellow Europeans but I voted for it to get rid of pathetic MPs that hide behind the EUs cloak to the detriment of the UK population. I had hoped that the reality whereby we need to create mass employment would lessen the burden on businesses and create an environment where anyone, no matter their background could strive to reach their goals. Instead we are in a cycle of low paid jobs, lacklustre growth and still a bloated London that does not serve as the trickle down economic hub that it was meant to be. And we have an opposition that wants to go on a spending spree with an expensive credit card thinking that extra tax is easily had to pay it off! Our energy situation is absolutely dire, the continued pussy footing will lead us further being at the mercy of countries we shouldn't really be trading with. I always had my doubts about May and she is sure living up to them. Businesses up and down the land should start a heavy fightback to spur the government into taking action. They've forgotten that this world is a competitive environment and the UK won't command it's privileged position by name alone for much longer. They could at least take control over conventional oil planning permission and see applications through within weeks instead of years. They are being bullied by NIMBYs and greens that will never vote for them anyway. Get some balls.
Spot Rate is x 7 higher.
Excellent stuff, think you sent me a PM on here but I can't read it as not subscribed. I am sick to death with the lefties bringing this country down to its knees, Corbyn is the reason this SP isn't over 20 at the moment on speculation alone. The moment I heard that May had lost her majority I knew we were in for the long haul, however oil + gas prices are only going to go north as China and other countries reduce their use of coal. Renewables are a myth where a lot of money is being made by greenie gangsters. I don't think May will be here for the next election, and we also need rid of Greg Clarke whom has been described within inner circles as a "ditherer"! Not exactly who you want as the face of business. The longer the cold spell continues the more clout Jim Ratcliffe will have, he has had to reduce his use of gas by 20% at one of their plants! Couldn't make this stuff up even if we tried. The shale industry has won every single legal case thus far so we have the support of the courts, we just need to get true Conservatives into the right positions and kick Corbyn into the long grass where he belongs. Egdon is the best company to buy in if you believe shale will ever get going, we don't even need to be producing to make money, speculation alone will drive up SP, it went over 30 previously. Still a few million in the bank and we have details of Wressle coming up in next couple of months to keep us moving.
Unite under LM is everything that is wrong with the UK at present. He is even more dangerous than Corbyn.
Accounts have been submitted. The very last hurdle is financial viability to return site to original condition when no longer required. Plenty of money in the kitty and won't be any issues in getting passed. TE have now set a precedent for future shale applications and once the first one gets underway without the world exploding the other applications will sail through. Patience will reward us all.
As we can see from the lack of posts in relation to RNS released this morning people have become fed up with lack of action. The fact it took two weeks to get this statement out is also worrying, should have been released within 24hrs. Maybe it was to let Upland have time to consider what they would do. Anyway, let's see how we get on at this final hurrah. First thing will be overcoming the issue with being short of time to return site to original condition.