Member Info for Serif

This has all been discussed before. If EOG don’t get a farmin or another extension to phase 1 of the licence then the licence ends on surrender. Even if for some bizarre reason the Irish Gov were willing to allow someone else then to pick it up a surrendered licence they would inevitably be starting at phase 2 on this licence which would require them to make a technical application to drill - and EOG own the relevant information to support this.

I think that once the licence lapses its surrendered and it’s gone - and would have to be reissued in this case to a new party - so would breach Gov policy.

Don’t doubt that Ryan would block Inishkea if he could and prob would have succeeded before Ukraine war. But he has lost power and influence and Greens much less popular now. Think threat of creating Energy Dept last reshuffle was a message to him from his partners who are fed up with his intransigence. Corrib is now the last hope for energy security (not to mention tax revenues) and Varadkar and Meehan both seem well briefed re Inishkea. Unlike LNG - continuing with existing licences IS government policy, so if we get farmin from likes of Vermilion Ryan will struggle to object.

Also suspect that he has delayed Energy Security Report for so long because it either doesn’t support his position or he knows it will be shredded in the Dail. Now finally he has promised this in weeks - let’s see what it says and who says what publicly about indigenous gas and continuing licences (ie Corrib). Nothing is certain but we have plenty going for us.

Re farmin partners - can’t see Shell as they spent years getting out of Corrib. Could be any other company with big pockets, but Vermillion (and the Canadian pension board) have most to lose if Corrib is simply allowed to decline.

While like you I suspect we are unlikely to get a Field Development Planning update before the October meeting, where are you seeing the RNS saying there won’t be other news before then?

Don’t think it’s pretending to be anything other than a positive update (and good comms). If you check back you will see that the updates have sometimes come out as RNSs and sometimes only as updates on website. So guilty of inconsistency perhaps.

It’s the monthly update, clear progress, good communication as promised and timeline given for next development stage. Sounds pretty good update and that’s not changed by some traders doing their thing on a Friday.

Good to see local councillors looking beyond the shouty green slogans and putting their heads above the parapet to lobby for a sensible solution.

Although worth noting that they had already got all the corporate shareholders and the management team on side before the bid was made - so presumably a lot of people knew what was going to happen.

That’s what happened with Egdon.

Thanks GP. Have also gone back to your earlier email and reread. All helpful in understanding where we may be at. The pump looks like an all round good thing to have in place. It will be very interesting to see what flow we get and whether the GOR trend continues to drop as this should help with oil production rates.

He refers to jet pump being able to produce 1200 barrels of fluid a day. Even including a small percentage for water that’s a lot - anyone know whether using a jet pump is likely to have an impact on the amount of associated gas - ie can it increase the amount of fluid produce without increasing the amount of gas, so getting round one of the main constraints?

A lot of talk about Wressle in this DB interview. All very positive.

https://www.youtube.com/watch?app=desktop&v=TjgqAhUxz14&feature=youtu.be

GP - the original flow clearly made it uncommercial but am presuming they wouldn’t be wasting their time on Cloughton unless they thought there were ways (other than fracking) to get it flowing commercially? They didn’t have to bother with taking over as operator, so based on the technical advice they must see potential here and a possible way through.

Rabbit away GP - always an interesting read.

Good to see the SP rising off the bottom.

Agreed - although never under estimate Egdons ability to stretch the simplest timescale! Key thing now is to get predictable flow (hopefully 700plus rather than 600) and move on to publish the cpr and break current log jam. Of course it may all be thrown up in the air again by a bid for us or UJO. The timing is all just so convenient for Heyco.

Gold leaf - nothing but the best.

Site looks more spacious than I remember, so maybe there will be room for an extra well. Also wondering if they might dispose of or greatly reduce the flare stack if they get gas pipe solution in place?

@GP - would that mean the end of production from Crosby Warren?

Double the time LoS? Compared to Egdon that’s lightening fast! IMO WH either shifts this SP with significant Wressle and hopefully Irish progress or it’s probably run out of time. At least he seems more energetic and committed than some around, and they seem to be hammering away at Irish “heads in the sand” position.

There will be more lively days in Sept especially once the pump is installed and we get new production rates and the cpr finally published as per the last rns.