Predator Oil & Gas Share Discussion Threads

[pro_s2009] 08/11/2022 07:04

Excellent update........all systems are go......



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[pro_s2009] 04/11/2022 05:19

Gas prices are going to be heading much higher........



Europe could face 30 Bcm gas hole by next summer, says IEA

Combination of no supply from Russia and reviving LNG demand in China could affect gas storage filling activity ahead of winter 2023

3 November 2022 22:36 GMT Updated 3 November 2022 22:36 GMT
By Davide Ghilotti in London

European gas supplies could face a deficit of 30 billion cubic metres the next northern hemisphere summer if Russia halts pipeline exports and China resumes its historical liquefied natural gas demand, the International Energy Agency (IEA) estimates.

The supply-demand gap could come at a crucial time to replenish inventories, due to seasonally low gas demand in those summer months, prior to the northern hemisphere heating season of 2023-2024.

While gas inventories across Europe are now running close to 95% full, above the five-year historic average, the agency calculated that a combination of factors further reducing supply from Russia, coupled with a resurgence of demand in China, could wipe out the supply cushion in Europe as early as its next summer.

This could dramatically hinder Europe’s ability to store sufficient gas ahead of its following winter.

“IEA analysis shows that Europe could face a challenging supply-demand gap of 30 Bcm during the key period for refilling gas storage in the summer of 2023,” the agency wrote.

This volume is close to half the gas required to fill storage s..................

[pro_s2009] 04/11/2022 02:39

Defer Kinsale pipeline decommissioning, says energy company



Mag Mell proposes using old gas field infrastructure to import shipments of the fuel

Barry O'Halloran

Wed Nov 2 2022 - 05:00

Moves to close a pipeline from the old Kinsale gasfield should be stalled so it can be used to import shipments of the fuel, one energy business says.

Government energy security proposals include plans to import liquefied natural gas (LNG) from specialised ships that cut out the need for onshore terminals.

Mag Mell, a business that hopes to reuse part of the now empty Kinsale field to import LNG using this system, wants the Government to defer decommissioning the reservoir’s pipeline to allow consideration of its plan.

The company plans to import the fuel in specialised vessels, called floating storage regasification units (FSRUs), that turn LNG back to gas so it can be pumped into a supply network.

It will connect these to the Kinsale pipeline, 50km from the south coast, from where they will provide gas to the Irish network.

However, Paul Griffiths, Mag Mell chief executive, said the Government did not want to back the plan, as it feared LNG shipments would include gas produced from fracking, a controversial form of drilling opposed by environmentalists.

Mr Griffiths said this was despite his company’s pledge to only use gas that has not been fracked.

The Department of the Environment, Climate and Communications is due to take ownership of the pipeline from Kinsale Energy as gas production from the field has ceased.

Mag Mell said it was encouraged by the Government’s suggestion in its energy security document that FRSUs could provide an extra source of natural gas imports.

However, the company declared it was “frustrating” that neither Eamon Ryan, Minister for the Environment, nor his officials had engaged with it since it made its original proposal 2½ years ago.

“I would say, based on how we have been treated over the last 2½ years, it means that we will never get a positive engagement from the department or the Minister,” Mr Griffiths argued.

However, he stressed that Mag Mell was prepared to work with the department “on a collaborative basis” for an outcome that he argued would secure energy supplies while the Republic transitioned to a “green grid”.

The company believes the Kinsale pipeline, which comes ashore and connects with the national network in Cork Harbour, could be quickly converted to facilitate FRSUs.

These vessels would operate over the horizon and move from there once they were no longer needed.

Government’s energy security proposals suggest using this system, but does not give any location. The document does not consider plans for an onshore LNG terminal.

A proposal from US group New Fortress to include an LNG terminal in its plans to develop a site in north Co Kerry for energy production has already sparked protests.

Industry and political sources maintain that Mr Ryan, who is also Green Party leader, and his colleagues, fear a backlash from their own voters should the Coalition support the development of an LNG terminal.

[jungmana] 03/11/2022 08:29

My thoughts too

[ride daice] 03/11/2022 08:09

Should this not be ticking up on the back of the EOG news ?

[pro_s2009] 02/11/2022 14:44

Nothing, its a holding statement meaning the rig is ready to go.......so as soon as all the ducks are lined up in a row......the rig moves to location and spuds asap.

At this time they can do whatever maintenance and safety checks are possible whilst waiting for the ducks.........

[chopsy] 02/11/2022 14:00

"Rig 101 has been mobilised to a rack site (holding location) en route to Guercif for rig preparations whilst the access tracks and roads to the MOU-2 location have been upgraded and the well pad construction has been completed following a recent site visit by the management team to the drilling location."

What does this exactly mean for a spud date???

[helpfull] 02/11/2022 12:41

Both the GSA MOU and the CNG MOU were targeted for October according to the timelines in the 8 Sep 2022 presentation. What does their non-appearance mean?

November is a busy month because the drilling of Mou-2 and the testing of Mou-1 and Mou-2 are all pencilled in. Or not.

Be careful.

[pro_s2009] 31/10/2022 02:25

Wish I had your confidence GH.....I would plug a lot more money than I currently have into this one.

[pro_s2009] 30/10/2022 01:37

Point worth making again......

MOU-2 is just 200 meters from this main highway.......so the proposed CNG and trucking of CNG from the MOU-2 in the success case is very very valid.

[pro_s2009] 27/10/2022 07:53

Yes he is..........

[bad gateway] 27/10/2022 07:39

"However, failure to engage by the Department proactively and constructively will be seen by us and many others as a direct invitation to go down a legal route."

Strong statement?Is he threatening the Minister with legal action over their apparent deliberate delays.
WEF boys won't like that.

[swizz] 27/10/2022 07:36

The IAE report in full,..GL S

[pro_s2009] 27/10/2022 03:09

Ireland needs to ‘grow up’ and accept LNG will be needed during transition to green energy, TDs told

There has been reluctance in Government, predominantly Green Party-led, to embrace LNG due to concerns some of the gas is extracted through fracking

Mag Mell Energy has proposed a project involving floating storage and regasification units (FSRUs) using the old Kinsale gasfield pipeline. FSRUs are large ships that can store LNG and convert it from liquid to gas and can link up with gas pipelines at ports.

Cormac McQuinn Wed Oct 26 2022 - 18:25

Ireland needs to “grow up” and accept that liquefied natural gas (LNG) will be needed during the transition to green energy, according to a company that wants to develop a floating terminal for the controversial fuel off the south coast.

Mag Mell Energy has proposed a project involving floating storage and regasification units (FSRUs) using the old Kinsale gasfield pipeline. FSRUs are large ships that can store LNG and convert it from liquid to gas and can link up with gas pipelines at ports.

There has been a reluctance in Government, predominantly Green Party-led, to embrace LNG due to concerns that some of the gas is extracted through the environmentally-damaging practice of fracking. The Government’s policy on fracked gas sets out how, pending the outcome of a review of Ireland’s energy security “it would not be appropriate for the development of any LNG terminals in Ireland”.

Last month the consultants conducting the review set out options for improving Ireland’s energy security and its findings are currently out for public consultation. They concluded that the strategic leasing by the State of a floating LNG terminal should be an option for consideration by Government. However, they advised against a FSRU that is commercially operated as it may result in the importation of fracked gas into Ireland and could impact on Ireland’s targets for cutting carbon emissions.

In a briefing organised by Cork-South West TD Michael Collins, a member of the Rural Independents Group, Mag Mell Energy’s chief executive Mr Griffiths outlined his company’s project to a number of Oireachtas members and staff.

Mr Griffiths said other European countries were “clamouring” for FSRU’s amid the energy crisis caused by Russia’s invasion of Ukraine. He said there was no short-term fix to the energy supply issues, but his project – which he said would use non-fracked LNG – could be delivered in 2025.

Mr Griffiths argued that EU guidance is for LNG and gas storage to be part of the solution to maintaining security of supply. He noted Ireland’s gas connections to Britain, and said there was a risk to security of supply. “Ireland needs to, in my view, grow up and accept that some LNG and gas storage is going to be required for the energy transition until green energy can replace it,” he said.

Environmental campaigner Angela Deegan – representing the Not Here, Not Anywhere group seeking a fossil fuel-free future – highlighted how the energy security review rejected commercially-operated floating LNG terminals as an option.

She said she did not know how Mr Griffiths could guarantee the LNG used by his project was not fracked. She also said that LNG caused 20 per cent more greenhouse gas emissions than other forms of gas due to the liquification process and means of transport.

Mr Griffiths disputed the findings of the energy security review and argued that it was “out of date”, while also saying the industry had made progress in lowering emissions.

A Department of the Environment spokesman said it is seeking feedback on all of the options set out in the energy security review.

The deadline for people to take part in the consultation is Friday, October 28th.

“The Department has met with Mag Mell Energy and understands the proposed concept,” he said. “All responses and submission received, as part of the consultation, will be given careful consideration.”

Minister for the Environment Eamon Ryan is to bring his security of energy supply recommendations to Government once the review process has been completed.

[grharrison] 26/10/2022 12:57

I do hope that everyone truly studied

the Tour de Force provided by Methodology

Regards
GRH

[pro_s2009] 26/10/2022 12:25

Looking perky today.

Be greedyful.........

[helpfull] 26/10/2022 08:41

How significant was the loss of a director?

Barely six months in the job. One of two brought in. To help with:

"areas of potential asset-based project funding and building relationships with financial institutions and equity markets"

No CNG MOU. No GSA MOU. What's happening?

Be careful.

[pro_s2009] 26/10/2022 06:12

...........Predator is one step closer to drilling in Morocco with the signing of a rig contract for drilling of the upcoming MOU-2 well in the Guercif Licence onshore northern Morocco. MOU-2 is a high impact/high reward well where high estimates are an impressive 708 BCF so any success would be highly transformational. .........

[mariopeter] 25/10/2022 13:00

Think just waiting on the license to drill and Lord knows if they have all the equipment/materials to drill but the rig is not far away.

Fishy is not dissimilar to a wider view that "at the top of every small miner or small oil/gas Company is a lying bas*ard" and always worth knowing the generic expression as small companies promote themselves. BP would not exist today without early day promotion. Saying that, I like the PRD CEO as he does seem to try to be transparent.... white papers/updates and many years of experience in Morocco. A small team with little initial cost is perfect for a target drill but unusually it's a very big target with untested gas presence. Our promoter is having to be malleable to keep costs in check which adds to his credibility for me.

[theonewhoknows2] 25/10/2022 08:49

like i said.something v fishy about this company.

[bigsi2] 25/10/2022 08:21

As expected ... market unimpressed by delays

[pro_s2009] 25/10/2022 03:43

I thought the most interesting part of yesterdays RNS was about the oil. A CPR being commissioned.

They think potentially 500 MMBO to 1 Billion barrels of OIP, and it would be a cheap and quick well to drill to prove viable or not. So potentially farm out news (for the Jurassic Oil prospects) after the CPR is released - not for the gas. That potential farm out would be only for the Jurassic oil play. I think their preferred route on oil is to let someone else pay for the well, and in the success case they can sell it off to fund a lot more gas play drilling - PRD want to concentrate on the gas only.

......... A location for the MOU-NE well (now designated MOU-3) was finalised during the recent site visit.

MOU-3 will be the next well in the drilling sequence and will test a 35km(2) area within a larger Jurassic oil prospect.

A Competent Persons Report is being commissioned to define the range of potential prospective oil resources for the MOU-3 trap. ..............

[pro_s2009] 25/10/2022 02:43

If you look at the plan, they wanted to drill MOU-2 commencing late October, but have allowed all the way until end November.

MOU on gas sales they also planned to sign before end of October.

But business is business as things get delayed, as we all know far too well.

It would be nice to get an MOU signing news this week, but I would not bank on it - we may have to wait for November as well.

[78steve] 24/10/2022 13:29

Might take a small punt near spud time.thanks