Member Info for romaron

The spokesperson for The Melon Party (Green on the outside, Red on the inside) was one of the first to comment on yet another oil giant celebrating poisoning the planet.

"Once again the Global Giant EnQuest makes a mockery of Net Zero and its aims. Another year of obscene profits. It is time to stop *****footing around and put some real targets in. The vagueness of 2050 is not scientifically based and was plucked out of thin air. We need to be more specific and the Melon Party with scientific advice have determined that Net Zero is to be legislated for 3.15 p.m. on Wednesday the 29 March 2045. We will continue to press for Net Zero because it equals Green Jobs. So far these jobs have been in China but this hides the real gains and explains why the Green Economy hasn't grown since 2013. What better way to clean up pollution and shift it to the third world where it is so desperately needed and can be turned into economic success. We shall enjoy the fruits of Marxism as we re-wild vast expanses of the British countryside in the gaps left between solar panels and wind turbines.
Be warned – the clock is ticking. Supporters of fossil fuel will complain that it will be impossibly expensive to achieve Net Zero by (see above) but why should capitalism come into the equation? With global warming expected to be 0.1 degree Celsius per decade the time for action is NOW.

Please donate generously as it is a full-time job for our activists and glue prices have doubled.

Talk about conflicting messages. The aberration that is JOG defies the market and what Zippy is hearing. Do they know something that we don't know?
I think there is a good chance it is plain hysteria. My experience with Xcite puts up a red flag whenever I hear "Heads of Terme" or Memorandum of Understanding". There is an even more worrying element to the rampfest and that is when an "investor" praises Simon Calkwell (Evil Knievel) with prescience and being a fan and holder of JOG. I'm more concerned about his reputation for dubious dealings and friendship/collaboration with Tom Winnifrith and David Lenigas. I'd like JOG to succeed because it would be an enormous boost to EnQuest but if there is a farm-out I don't see it at the prices bandied about on their message board.
I'm just pleased we're not on AIM.

Pelle (21:25) - me too. He throws figures around with little explanation. I find it easier to ignore him. We'll soon know.

*price forecasts out https://mcdan.com/price-forecasts/ I like these because they take a lot of the hyperbole away and put you more in line with the world the companies operate in.

https://theconversation.com/why-shell-pulled-out-of-the-cambo-oilfield-173183
Whilst not directly relevant to us it does provide background to B&B imo. It does show the potential prize if the country would rather produce than import oil. The O/T is because of Wikipedia. My daughter has just received a grant from Wikipedia because she will incur expenses in expanding a field where she is something of an expert. She is an editor but not a gatekeeper in Wikipedia terms. A Gatekeeper on Wikipedia is a trusted expert and she explained she doesn't have the time to become one. It is universal so you or I could post an entry although she assures me it isn't that technically simple so probably rules me out. It makes it almost TROLL FREE however if you could take it back to reference [all entries require a source] you might sneak something through even though it was propaganda masked as scientifically researched. For instance it is highly unlikely that the "renewables 9 X cheaper than fossil fuels could get through". The people who vet the entries are experts in their field. I shall pay more attention to Wikipedia references in future.

Thanks Zippy. Interesting. It should leak into the media and be reported. Seems to fly in the face of what is happening at JOG. If JOG happens that would mean Cambo owners made the wrong decision and B&B are valuable. Let's hope it is Cambo owners putting the pressure on government. Shell involvement (again) makes this a highly significant move.

Thanks for the heads up Adam. Straight to filter. Go back to troll school and stop wasting people's time.

Hi Dumbly - I've been thinking the same. Today's move has increased the volume traded so not just an adjustment and I don't think we have a large shorting of EnQuest stock. I also have started following JOG as it is getting excitable over there although the volume is tiny. ATM I think it is PI driven and is rather incestuous. I don't know how you'd short it as it may be too tiny for spread betting companies. On the other hand there will be a decision within a month and on the surface of it the development investor could be making the deal dependent on an EPL floor, or they just ran out of time. I'm not convinced but it is another indicator.
I'm afraid I'm no expert on legislation but I am trying to find out more. The energy bill hasn't gone through so it may be possible to adjust and put in an EPL floor. For a change things appear to be working in our favour and I'm not too worried by recessionary fears as natural declines in oil will outpace demand imo.
Will/can anything happen/change before 17 April when parliament returns after the Easter recess?
I think we'll be no nearer an answer on Wednesday as our forward guidance and finances are presently in the gift of this government and they have plenty to be getting on with. No doubt negotiations continue but they always have a NDA it seems.

*in weekend papers. I've thrown them now so cannot quote but it was pointed out that the last auction for licenses had some catching up to do but they did comment that they are only cheap options anyway and do not secure our production going forward. Again, that is in the gift of government.

"Together with our friends in Russia and the Middle East we have assured the security of Britain's energy needs without recourse to increasing pollution and emissions. It means we can now move to the next stage of our energy plan and fine the oil & gas giants as reparation for the damage they've done to this country. The funds will be used to increase unemployment benefit"

Bigger jump than I expected. Looks like some short covering imo. go here and press on brent graph 1Dhttps://tradingeconomics.com/commodity/brent-crude-oil it cheered me up. Gas steady - perhaps at long last they'll stop conflating the two. For security we really do need our own oil.

Makes you wonder if Hunt or any Labour politician can say the phrase "energy security" without embarrassment. I don't want our security managed by the Middle East or come to that; by the US or Russia.

Hi oxygen - you left out the sentences immediately preceding your quote, here it is:
"Oil and gas prices have fallen back to levels last seen before Russia's full-scale invasion of Ukraine. A rejig of the tax might involve setting separate price floors for both commodities, below which it would cease to apply - with only gains above the floor being taxed extra. This would be similar to the levy place on electricity generators, which kicks in only above a price of £75 per MWh (the spot price is about £117). The oil tax was wrongheaded etc...."

I'll take you back to last July https://www.carbonbrief.org/analysis-record-low-price-for-uk-offshore-wind-is-four-times-cheaper-than-gas/

Assuming those bidding at the auction know their stuff we'll be looking at closer to £48 per MWh (at July's prices so allow for recent inflation) within a few years. Gas is only a reserve and to combat intermittency so has a built in price deflator as it competes with renewables in electricity production. These numbers are NOT being reflected in consumers electricity bills YET. The public can expect cheaper electricity although not at the levels Labour have proclaimed. Where is it?

The front page headline is "Business in crisis as energy prices surge." 370,000 small businesses being pushed towards a fivefold increase in energy bills this weekend. Pubs and hotels bosses have warned of a quasi-lockdown. the numbers look more like double + to me but even so this is a disgrace and you cannot blame the 'O&G giants' this time. The public interact with small businesses and actually talk to the pub landlord and dry-cleaner explaining why the price of a pint has risen or a jacket dry-cleaned. The lies and exaggerations of certain parties is coming home to roost. Don't let them get away with it.

Obit: Stanley was a prolific cutter & paster who loved virtual company and joined in debates on boards he wasn't invested in to satisfy a deep yearning to be involved. It didn't matter that he knew little of the subject or was out of his depth. He gaily butted into exchanges without ever adding anything of value. He was consistent though to the end. In his final post today he continued to demonstrate his ignorance of the industry. The fact that he didn't know the difference between LPG and LNG probably explains the crackpot bitumen idea he came up with in his last post. It made about as much sense as burning £10 notes to keep warm. As for CCS perhaps he was unaware of the Sleipner Vest field in Norway which has has been burying a million tonnes of CO2 a year, without drama for more than 20 years: https://sequestration.mit.edu/tools/projects/sleipner.html
Industry needs to scale up and not all fields are alike but he professed to understand complicated physics and geology researched from his remote caravan (LPG heated). He was wasted on this board where intelligence and some practical experience is valued.

I do hope he meant it when he said it was his last post though his trolling and obsession with this board makes that unlikely. It is also All Fool's Day and he certainly qualifies.

R.I.P. Stan -

Ooops an omission - five million people a year are dying from extreme temperatures.

Also over a million people a year worldwide are killed crossing the road. A roll-out by the Mayor of London is expected to tackle the horrendous impact it has on Londoners. Walking will soon be banned unless in designated walking lanes and fines imposed if not using the walkways being built on every road at a cost of £10 billion pounds to be funded from the redirected savings to the NHS of the ULEZ success and cleaner air reducing the need for more hospitals.

From a reputable source, Monash University 2021, five million people a year from extreme temperature. What gets missed is that 90 per cent of those deaths were from extreme low temperature, even in Africa. Moreover, deaths from high temperature show a slight increase, deaths from low temperature are falling at a faster rate.
Flooding - maximum flow risk, and therefore flood risk in 3,500+ rivers by IPCC, is up in 7.1 per cent of them and DOWN in 11.9 per cent of them. Yet even if sea levels rise by the half a metre as expected by the IPCC this century it is hardly an existential threat to humanity, more an engineering challenge.
Just another way of looking at things without the hysteria.

From Ross Clark's book "How an irrational Target Will impoverish You, Help China (and Won't Even Save the Planet)

*one for Stanley - he's a believer https://www.cheshire-live.co.uk/news/chester-cheshire-news/residents-not-hydrogen-village-trial-26583457
I don't think they'll pump it to your caravan but you may be able to move to Cheshire if it is a tourer.

Dumbly 08:31 - I've just followed the links. They're new to me but I arrived at the same conclusions. I was particularly drawn to the piece about George "Nutter" Monboit saying that farming should be abolished to save the planet and meat be replaced with lab-grown protein pancakes and that John Kerry flies around in the family owned private jet. If you're rich you can do and say what you like. Talk about the boredom of the bourgeoisie because "they don't care who has to pay to alleviate it". Good finds.

Has got a tailwind today and I wish holders well. It doesn't have a lot of shares so there is an exaggerated movement. The difference between today and yesterday on their message board can be easily seen. You just wish you knew what was behind it and presently it appears to be a bet on the government making NS investment a tad easier within the next month.
If the JOG shareholders got all they wished for it would rebound on us with B&B. We're still pretty much in the dark about the revised date for the preliminary financial results.
One thing that does give me confidence is AB's ability under pressure. We've been here before and he seems a pretty canny negotiator. Let's hope too that Gareth Penny is an improvement on our last Chairman.

The exclusivity period might be window dressing if there was only ONE interested company to a farm-in.

Hi M - correct. I wish them well. The RNS this morning has given them hope but I would still not touch the stock. "Heads of Terms" can be almost anything and I have been in this situation with Xcite. They throw in some legal terms which obfuscate the situation. It reads like this to me.
They were committed to a deal being closed Q1 because that is what the JOG CEO said. They were hoping for something regarding EPL as many of us were. That hasn't happened so they've basically moved it one month forward and a deal is conditional on getting a satisfactory signal from the government. It has become binary. I hope they get something concrete. I just wish that people would use the energy they put into posting in lobbying their MPs and various institutions.
The bulk of British people still want their foreign holidays and cheap heating. The government know this. How you package it is the problem. EV's aren't coming down in price quick enough and they have various problems. I'm actually off shortly to pick up a new petrol car as the Mayor of London has forced me to sell my diesel. The public have been pushed about as far as they dare. Once you start impinging on the man in the street you risk losing votes. That is where Labour are going. They don't know when to stop.

Left one comparison out. China has lifted roughly 12 X the population of this country out of POVERTY in 40 years. That's a lot of people.

Watched BBC QT last night. Very predictable and one of the questions was "will we reach net zero?". All predictable, said before, and adding to the mass hysteria. And then Fraser Nelson Editor of the Spectator spoke.
He pointed out that carbon output in the UK is the lowest per capita since Victorian times (1857 was mentioned). Now we want to tax the poor off the roads and out of the skies or ramp up heating bills. There has been such giant progress in emission reduction and we are "treading more lightly on the planet." We have made the best progress in G7 and G20 in reducing emissions.
He then surprised me. He pointed out that China's emissions had quadrupled in the last 40 years. They had at the same time lifted 800,000,000 people out of POVERTY. We are all living longer and is that not a carbon price worth paying whilst capitalism and technological progress reduces emissions even further. [I imagine you'll get an equally big number if you include India]. He didn't say it but the US is even more hypocritical than the UK imo.
The audience at the end were silent. No boos. The first bit of common sense in the whole programme. I'd say they were stunned because they didn't get the usual fix of greatest hits and the tunes they can all sing along to. Other rubbish was loudly applauded with young activists smiling saintly and awaiting a pat on the head.

The real world isn't welcome on Question Time which if it leans any further Left will fall over! After Fraser Nelson spoke Emily Thornberry (Labour) promised that bills will go down FOREVER once Labour are in when we LEAD the world in Green Energy. All it requires is £28bn of investment every year. She was loudly cheered.

Looks like JOG failed to find a development partner. 2C is currently worthless. No chance of renewable energy taking over our energy needs any time soon but we’re he’ll bent on destroying an essential industry. Remember wind really only covers electricity. People cannot afford to change cars, cookers and boilers to accommodate extremist ideology. Carry on Labour and be unelectable for another 10 years. Crackpot economics. They’ve declared war on industry.