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BK and WA now hold over 12% between them. These size of holdings are not easy to cash in - so not only do they clearly see more value here than in current SP, are they also thinking that a buy out is likely following any success in EQ or Ireland? It’s a lot of money to keep putting in to something that is otherwise a pretty illiquid investment for them.

Good question - not sure but wondered if it was either that Heyco owned 60% of project or because they employ a dedicated planning officer - I think EOG and Egdon have an informal deal to share resources as I think Alastair Stuart helps Egdon with Wressle.

Thanks, GP. This is the link to the application made on Friday

https://onlineplanningregister.northyorks.gov.uk/Register/Planning/Display/NY/2024/0113/SCR#undefined

As all that’s showing is a 1million sell there must presumably be an even larger buy on delayed report yet to appear.

Thanks, Itsawrap. I thought I had read somewhere that there were going to be quarterly updates somewhere - but don’t remember where.

Hadn’t realised they stopped production for Xmas - if this applied to Easter as well then from a quick calculation the BOPD for April would still have been over 500.

Itsawrap - do you know when we expect the next Egdon update on Wressle production - trying to make sense of the zigzag monthly figures!

Why do you think that VL?

Btw - all buys this morning so far and finally a rise - even though some of the pricing looks confusing.

Probably the eog motto that - “Shall we get the EG figures out quickly so that we can farm out while people are still interested in the region? - No rush!”

Certainly looks like a deliberate pattern of selling today to find the SP drop point.

Seller seems to be not worried at throwing more at the SP whenever there is a hint of a rise. Is it shorting or share price suppression as no TR1 and no obvious desire to sell out quick. Is a similar thing happening over at UJO? If so it would look Wressle related and someone with deep pockets playing the long game to try to pick up asset on the cheap. Not sure I believe it, but can’t see any better explanation at present. I hope EOG are alert.

See this in ukog rns

In the case of a retrospective planning solution, the field's historic and future expected production volumes would fall below the 500 tonnes/day (c. 3,700 barrels/day) production threshold for which an EIA is mandatory for petroleum extraction developments.

Does that mean the ruling wouldn’t impact on Wressle because of scale?

Probably the same argument could be used for any oil and gas extraction - just don’t know how on earth a council is meant to assess it - what does “take it into account mean in practice - hopefully not a lot, but it threatens to slow down all planning even more in meaningless activity.

Yes what a bizarre decision! So does that mean for instance all new car factories need to consider the environmental impact if the vehicles will burn fuel? Or have to take into account the fossil fuels that will be needed to generate the electricity? Bewildering.

Worth looking at plan on website for more detail on dates for rig transportation and start of drilling ops. Plus other activities of interest.

And another 2 million buy just showing up - looks like someone may be testing our seller’s willingness to keep the SP at this level.

In terms of timings/patterns am expecting WH to buy some more this month - but had presumed he might need to wait until they have provided the formal update on EQ potential. So maybe some one else?

OK, thanks VL. So we should get a decision any time from now (if delegated) or at one of the two planning meetings scheduled for July. 🤞

Hi VL - could you clarify what they have confirmed - that the planning decision is delegated or that they have granted permission?

No real local opposition for sure - but is it really possible anymore to call any o&g development “not contentious”? I’m sure drill and drop and the Greens would run a few headlines quoting widespread opposition from local bird scantuary!

Thanks GP, value your observations. Looks like success or failure this year is going to be determined by EQ. I saw your comments elsewhere re Wressle being on delegated authority - which is good news. I suspect however they won’t be allowed to issue a decision until after the election - there is a convention not to make planning decisions during a campaign that might provide ammunition to one part or another. Still a July decision should mean drilling Q1 and I was very pleased to see that enlarging the site means they won’t have to suspend current production.