Member Info for VerbierDave

Fracking ban lifted as of today

The fracking report is due in June from the Gov so it's not exactly a very long way off, two months away before we should get some form of direction.

GP - It would be certainly nice to have a steady news flow of some of those before the half yearly report rather than one big spike of news, it would be much better for the share price.

Could do with some news and I don't think we'll have to wait too long ??

Biscathorpe-2z news.
Wressle-1 flow update.
West Newton CPR (UJO).
Wressle & Broughton North CPR.
North Kelsey update.
Ceres revenue update (EDR).
Half Year Results (26th April)??

The 1922 Backbench Business, Energy and Industrial Strategy (BEIS) Committee said new shale gas proposals should not be forced on communities. But it said incentives could lead to what it called “a more realistic approach” to development.
https://drillordrop.com/2022/04/07/backbench-tories-call-for-relaxed-planning-laws-for-fracking/

MM looking for shares

Great tick up today, I wonder how much will come out tomorrow in the UK Energy Security Plan that could help the likes of our Biscathorpe and and offshore Resolution/Endeavour projects. Will they all end up being fast tracked with our partners??
And then obviously there's the fracking - I'm really interested in what they will address in the announcement about that.

22.3p valuation today!!

This is based on our shale gas assets as well.

https://twitter.com/leedbartz/status/1511645452663414784

I think there will be some strong buying today because I'm sure there will be talk of the survey on fracking in the governments energy security bill announcement tomorrow and that will really get people looking into the potential opportunities as FOMO kicks in. I think over the next two months on the potential of a fracking re-start this will re-rate.
If you then also add the potential gas to wire at Wressle and opening up the taps on that, then the CPR for Wressle along with the Biscathorpe appeal (note they have waited to put in the appeal until after the gov energy sec bill, which is probably a master stroke) then there is multiple fronts of positive news here that can catapult the share price. Don't be surprised if we are at least 100% up in the next two months.

If you think that energy prices with have gone down by June and people will have forgotten about how much they are having to pay out extra each month then you have lost your mind.

By June people will have had to pay the first two months of higher energy prices, millions more people will be at food banks and the talk of further rises in energy costs at the end of the summer will be all over the news. Added to that, the chances of embargo's on Russian oil and oil products (diesel) by Europe, or the Russians turning off the taps to call everyones bluff and we will be looking at $150 a barrel. By June we could be in a lot lot worse situation than we are now. Yes, fracking won't change the prices to energy prices overnight but nothing else will either, even if the government gave full backing to any onshore or offshore O&G you're still looking at a min of two years with full funding before production and the same goes for onshore wind (longer for offshore).
Biden has made a massive gamble by using reserves for the next six months to pump an extra million barrels a day into the market and if the extra capacity isn't their in six months then oil prices will sky rocket to probably $180-200 a barrel by the time the next price hike in the home energy bills goes up again in the autumn.

If the Government doesn't take every potential option they will get crucified by the general public and it's a general election year next year don't forget. The green vote won't mean a thing when you have old age pensioners and low income families freezing in the winter.

I'm sure there will be some sort of announcement on it within the bill. But then as you mentioned the anticipation and build up to the report by the end of June will bring in FOMO because if it is given the go ahead EDR with their acreage for fracking will skyrocket.

Well let's see what they say on Thursday and what indication that gives.

My guess on this is that they will allow fracking to go ahead but with regulations in place such as the wells having to be a certain distance from a dwelling and then use those initial wells to form opinion on safe drilling regulations. If they had no intention of going forward with fracking they wouldn't even have bothered with this survey.

https://news.sky.com/story/fracking-ministers-order-geological-survey-two-days-before-unveiling-new-energy-strategy-12582826

https://news.sky.com/story/fracking-ministers-order-geological-survey-two-days-before-unveiling-new-energy-strategy-12582826

You’re receiving this email because you signed this petition: “End the ban on fracking”.

Dear xxxxx,

The Government has responded to the petition you signed – “End the ban on fracking”.

Government responded:

Shale gas could be part of our future energy mix, but we need to be led by the science. Any development of shale must be safe and cause minimal disruption and damage to those living and working nearby

The current pause on hydraulic fracturing for shale gas was implemented in November 2019 on the basis of the difficulty in predicting and managing seismic activity caused by fracking.

This followed hydraulic fracturing activities conducted in Lancashire that caused tremors that were widely felt by residents in surrounding areas, in some cases causing minor property damage.

Following this event, analysis conducted by the expert regulator, the North Sea Transition Authority (formerly called the Oil and Gas Authority), concluded that further analysis would be needed to confirm whether hydraulic fracturing could be done safely.

In response to Putin’s barbaric acts in Ukraine and against the Ukrainian people, it is important that we keep all energy options open. While shale gas could play a part in the UK’s future energy mix, the government has always been clear that its development must be safe.

For shale gas to become a significant contributor to the UK's energy supply, a significant number of wells would need to be drilled. This is because shale gas is very different to the UK’s typical offshore gas production, where a small number of wells can be sufficient to drain the gas from an entire field. Shale extraction instead relies on a continued series of new wells, each of which produces gas for a relatively short time.

It remains government policy to minimise disruption and damage to those living and working nearby to shale gas exploration sites. Shale gas could be part of our future energy mix, but we need to be led by the science.

Department for Business, Energy and Industrial Strategy

It looks like things could get very very interesting this week with regard fracking and the Energy Security plan announcement on Thursday. Big U turn on recent Gov thoughts of fracking, looks like it's definitely going to be debated.
https://www.standard.co.uk/news/uk/kwasi-kwarteng-government-boris-johnson-whitehall-b992158.html

If fracking is allowed again following the news out about the reprieve of the abandonment of the two Cuadrilla wells then EDR will go ballistic. On positive news we should smash 10p and maybe more with Wressle update and half year results on the way.

Fingers crossed that it’s positive news

Wow that was some tree shake, good news on the Cuadrilla wells, I wonder if there might be something coming up in the energy security plan???

If you want to recoup some losses come over to EDR for short and long term gains. CPR due for the producing Wressle well (Producing $750k a month) CPR due for Wressle, Biscathorpe Z2 sidetrack (largest untapped onshore in UK) appraisal the list goes on and huge upside 4 or 5 bag if there is a lift on fracking.