Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Https://oilprice.com/Alternative-Energy/Geothermal-Energy/Geothermal-Energy-The-Hot-New-Trend-In-Renewable-Power.html
Countries worldwide, including the U.K., Japan, Kenya, and Indonesia, are looking to develop their geothermal energy capacities to diversify their renewable energy mix.
Instead of just focusing on this issue and the overall relatively short time frames, we should consider how the company are thinking...
htTps://docs.nopsema.gov.au/A837905
dated with a start date of feb 2023...
Jadestone Energy (Eagle) Pty Ltd (Jadestone Energy) plans to undertake monitoring of two temporarily abandoned wells, Sea Eagle-1 and Tahbilk-1 which are intended to be used for future hydrocarbon exploitation, in the Montara field via vessel-based activities
and...
Swallow-1 was initially anticipated to have a relatively short production life and once depleted, Sea Eagle-1 would be completed and assume the production flow path through the subsea infrastructure presently being used by Swallow-1
and...
1) The Swallow-1 well continues to flow at an economic rate and it is expected to continue until the 2027-2028 time period.
2) There is currently no capacity in the subsea system for the Sea Eagle-1 well to be tied in and doing so would back out existing production from Swallow-1 and impact production from other subsea wells.
3) Sea Eagle-1 is ideally located for hydrocarbon exploitation.
4) Hydrocarbons targeted by the Sea Eagle-1 can be economically developed provided the existing and originally intended strategy of using the existing wellbore and Swallow-1 infrastructure is used. If this strategy is not followed, future development of the field will be compromised and uneconomic.
5) Jadestone intend to complete the Sea Eagle-1 well once the Swallow-1 well becomes unable to produce or is uneconomic
The incident back in 2022 which led to the initial shutdown, was leakage of hydrocarbons from tank 5c to 4s. The issue was rectified and both tanks inspected. I would be very surprised to see any boundary issues between these tanks again and so soon.
Further to the example of gas leaking into a ballast tank in 2019..part kit and part human error.
The investigation revealed a crack in the inert gas (IG) deck seal drain line passing though ballast tank 4S. Additionally, the non-return valve was not operating correctly. At the time of loading and during topping up, the main IG isolation valve was left open after the IG system was stopped. The gases from the tank leaked back though the inoperative non-return valve, allowing cargo vapours to reach the deck seal. The ‘wet’ type deck seal performed its function by not allowing cargo vapours to pass, and the vapours were subsequently flushed out through the drain line that passed through ballast tank 4S. However, the hole in the drain line released water and cargo vapours into the ballast tank.
htTps://www.rivieramm.com/news-content-hub/news-content-hub/gas-detection-resources-63274
An example of a similar issue from 2019 on another vessel...
htTps://swzmaritime.nl/news/2019/09/24/gas-vapour-detected-in-a-ballast-tank/
A crack in the drain line of the inert gas (IG) deck seal drain line recently caused gas vapours to enter the ballast tank of a tanker. Inspections of IG lines should go further than just visual inspections to prevent such accidents from occurring.
The latest Mars Reports cover the incident which occurred as the tanker in question was alongside and crew were preparing to discharge the cargo of gasoline. The fixed gas detection system alarm sounded after hydrocarbon vapours had been detected in water ballast tank 4S.
Dated 13th july...
htTps://drillordrop.com/2023/07/13/south-downs-oil-field-to-restart-production/
Oil extraction is to resume at the Avington field in the South Downs National Park after a break of more than five years.
And
It said the operator, recently renamed Star Energy, would carry out a workover of the Avington-3z well. This was the field’s best performer, accounting for 81% of the produced oil, UKOG said. It added:
“Given the 5-year shut-in period, which potentially has permitted reservoir pressure around the well to build up, some element of “flush” production (i.e., higher than the flow rate prior to shut-in) is expected upon production restart.”
The average extraction rate when the field was producing was 336 barrels a day.
Https://www.alphaspread.com/security/lse/igas/dcf-valuation/base-case
The intrinsic value of one IGAS stock under the base case scenario is 75.3 GBX. Compared to the current market price of 12.15 GBX, IGas Energy PLC is undervalued by 84%.
Yep - that is the smart money, sneaking in under the radar - standard procedure - buy in small clips, to avoid moving the price and remain undetected. Institutional money won't show up until later on and then once the full on rise is well underway, retail piles in - which is the point that the smart money, starts unloading!
Thanks G- martin
one other point to note - whilst they did take losses on hedging in 2022, they will make on it this year....from the same accounts..
To protect against the volatile oil price and in accordance with the requirements of our RBL facility, the Group placed commodity hedges for a period of up to 12 months. As at 31 December 2022, the Group had hedged a total of 60,000 bbls for 2023, using fixed price swaps at an average fixed price of $94.93/bbl.
From the annual accounts...end december 2022
We are now firmly focussed on maximising the value of our oil and gas assets to facilitate a "just transition" to a renewable energy future through the growth of our geothermal heat business
...
that says to me and it is just my opinion, that they are going to offload the entire
O and G business, and "transition" to a solely geothermal business, with no liabilities and cash on hand to develop it.
at the current cap, an announcement of a sale of the entire O and G porfolio should put a rocket under the share price.
Well, I have been adding sub 45p this morning to take advantage of the disgruntled selling phase.
I will be after an over allocation if i can get it in the open offer - unless the current sp, stays below 45p, then i will just buy in the market.
Trying to throw the pi's a bone...
an incremental up to EUR8 million (c. US$8.6 million) open offer, primarily to allow non-institutional shareholders to participate in the Equity Fundraise at the Offer Price;