Member Info for Vernony

Oh I thought that Broadcaster alone was over 2000 barrels per day . Certainly the initial flow was. At least one of the others was turning in 1200. That is exclusive of gas , of which there is quite a lot. I would have thought that they are producing about 3000 barrels per day at this time , perhaps more

That ebola was much of a treat up on Gramma Ridge, but the stock market, at times, gets awfully jittery : ))

It seems fairly clear that the Saudi's are keen to exploit the low price by increasing production. Not because they want us to have cheaper oil, but to attempt to run the, especially deep sea based, operations out of business. Eventually the policy would lead to Saudi's having a larger market, so the price will not be such a big problem to them. IMHO Caza should be fine because they do not have to ship oil in tankers half way around the world to sell it, but it will hurt a little

The others are, of course, with-holding information until after the 28th. Have a feeling that the 29th will be a busy day for Shale

I can't understand why there is no apparent scramble for these shares. I haven't totted it up, all of their wells, but they must be now around 5000 bpd of oil and similar of gas. The oil is being sold from the well heads, the gas I am not sure, if they are managing to seel that too ? The price of oil is currently about $90 pbl . They have an awful lot of money coming out of the ground, even if some of the proceeds are shared......It seems to me to be a neglected share on the market ?

Very true in what you say. Also, I add ,China is sitting on some of the largest unexploited Shale deposits in the world, and they are exploring it right now. As far as the home market is concerned, I run my car on LPG and that has fallen 10p per litre over the year. Just waiting for BOGOFs on LPG now . (I have seen suggestions that Brent crude could drop down into the $60s per barrel in time) Just wonder what the Scot's SNP were hoping to use for money, if they had become independent, oil for bike chains dosen't bring in a lot !

Nice to see the sp shifting one way, or another, at least the share holders are not all dead !

Nice one , I have copied that over to Igas, where the same type of argument is raging

I've read that , but I am not convinced. There are a lot of very small companies into shale in the USA, and many are operating on a minimum. Some are bound to go to the wall . What the reporter , who has dwelled upon misfortune, has not said is how many shale companies are still operating and what their financial position is. I am sure that this vastly outnumbers those that have gone bust or pulled out. With so many companies in on the act, competition is fierce and they are certainly not going to produce the sort of margines that oillies have become accustomed to and the oil lies, especially 'shale sceptic shell' (SSS) don't like it !

Could it be a malicious bug in the LSE computer causing the sp to recycle between 42.00 and 42.50 : ))

I am not so sure it is as simple at that i.e. the prices will stay the same. Historically gas has been tied to the price of oil and there seems little doubt that there will be a national outcry against this. Japan, I understand, has severed that particular link. However, if it stays tied, then that will not be a bad option either. One Report, I have read, predicts that the effect of Shale oil and gas, will cause the WW price of crude to drop by 25 to 40% over the next 10 years.It will not happen overnight, of course, but they will not be able to sell it to the UK consumer above the price on the World Market....The big problem we have in the UK, however, is that we do not do things in a big way anymore. After 3 years of Shale gas exploration. We have Cuadrilla saying that they hope to sink a couple of wells at the back end of this year. iGas are much the same. If this were the Victorian era, or in the USA, the stuff would be flowing by now and they would have a 100 holes in the ground, and another 200 planned, for next year ! Not all plain sailing though for the UK, provided Scotland remains in the UK. They have some deep sea, hard to get at and expensive, oil to recover. A drop in the oil price, of that magnitude, will probably lead to closure of many of their wells and a shut down on any further exploration. The Falklands may well fall victim to this too .OPEC will, for a time, strive to keep the price of crude artificially high by reducing exports. This may work for a time but, in the long run, only encourage further exploration for Shale gas in the historic importing countries. America has been converting some of their civic vehicle fleets to run on gas. I run my car on gas (LPG) . I can't understand why people want to pay £1.27, per litre, for petrol , when I only pay £0.64 pence per litre for LPG. Still its a free country, you can always pay more if you like !

Yes, I think one can almost feel the intrique. There must be feelers going out in all directions affecting ALK, Igas, and Cuadrilla....I'm just being a little impatient, that's all

In other words neither aggressive, or dynamic . They seem to be reacting to events, rather than shaping events. Planning decison delays are to be expected, they are the norm, and, I assume, are factored in ? No doubt they will 'eventually' make money from their EDG deal but (Quote. iI EDG can exploit it. Unquote). So those words place EDG as an unknown asset in the equation. You can see from how the sp languishes that the Market is not very enthuisasitc , and they are the experts who are analysing ALK second by second every day. It is, therefore, not my personal opinion, it is the combination of thousands of investment analylists

Don't wake the Board up, they are having a long lay in

I think the possible reason is no dynamics about ALK. They are content to poodle along and in the end they will be at a much higher SP. But, the market does not invest millions upon fancy. They need to see a good solid plan that will, in turn, translate into a higher SP. Fund Managers are responsible to Investments Managers. The latter want to see a profit within each fy from their Fund Managers, or else !. So slowly, slowly, by ALK, will turn in a proft for the patient PI, but. No investment house is going to potentially lose 3-4% notional interest, when they could get 3-4% in the market today . The difference being they could lose 6 to 8% overall, if they were so invested. If ALK comes out with a plan, with achievement dates, then, I think, the Market may regard them differently

It doesn't appear that the Stock Market has been over impressed with the deal, it certainly does not excite me either

Agree. Let the MMs take money off of each other.

Not much in them really, its all intentions so far. Nothing solid. It is possible that they own the Ball Mill Scats, which could have a resale value, or an exploitation value. But, with only $2.7 m in the bank ( unaudited) . They really don't seem to have much with which to do anything much, IMO, it im imperative now that they try to find a cash input partner. Myself, I regard these as fun shares, if they payout then I can tell every body 'I knew that all the time, why do you think I brought them' :))

Hi Basil, I have not studied it in detail. But, a glance suggests, that ALK have derisked their gas side of the operation, whilst still making a profit on it , if it comes about . Could be wrong, but seems ALK have consolidated their future

Brilliant article, pity you are not in Government, and in particular the Minister for Energy. Governments these days are hollowed out affairs, they don't make waves because that may affect their election chances. In fact the least they can appear in the headlines, with exception of promoting dreams, the more they like it. And, industry, it hardly exists any more and invite foreigner companies to make the things we want. They seem to revel in the fact that here where the world's first commercial nuclear power plants operated, we now have to get the French to build our latest n-power station. This is presented to us as a government coup !. You get my vote anyway !