.

Nobody has found gas in commercial quantities so far. DES found nothing. RKH have Johnson which is not above the 5TCF recoverable threshold.

Loligo could be the first ever find of commercial quantities of gas.

The threshold is 5 TCF recoverable, the upper 2 targets at Loligo could contain 12 TCF recoverable. Way past the threshold.

Brokers and major shareholders and farm in partners are fully aware - its only some posters on bulletin boards trying to make out gas is bad - its not - not at Loligo - because its so big.

cynic 17 Aug 2012 13:51 1275

"GB-not calling me a liar i hope"

If the cap fits?, what are you going to do sue me..

i've just had a quick whizz through the posts of may/june ..... at that juncture, MrP was generally extolling the likelihood of fogl finding oil in loligo, with relatively little mention of gas ...... the "kindest" extract i can find is as below, but clearly MrP's wind has now quartered so that gas (LNG), in his opinion, is now virtually the only likely outcome


Proselenes - 10 May 2012 05:16 - 523 of 1285
RF - Loligo is likely oil and gas.
5 zones -
2 are more likely gas than oil, 3 are more likely oil than gas. I would not be surprised if the outcome were 10 Tcf of gas and 3 billion barrels of API 20 oil.


The above looks very much like an analysis that it is predominantly oil that will be found, and in huge quantities too!

no, but it just shows you to be a stupid old woman who should know better!

Exactly........ T1 and T1 deep are likely gas, circa 12 TCF recoverable.

The remaining 3 targets could be oil, somewhere between 2 billion to 3 billion barrels recoverable.

Nobody is changing the story - just some muppets trying to deramp saying gas is bad......... people who appear to have no clue about DES or RKH or BOR or what they did, or did not find...................




cynic - 17 Aug 2012 15:32 - 1286 of 1287
i've just had a quick whizz through the posts of may/june ..... at that juncture, MrP was generally extolling the likelihood of fogl finding oil in loligo, with relatively little mention of gas ...... the "kindest" extract i can find is as below, but clearly MrP's wind has now quartered so that gas (LNG), in his opinion, is now virtually the only likely outcome


Proselenes - 10 May 2012 05:16 - 523 of 1285
RF - Loligo is likely oil and gas.
5 zones -
2 are more likely gas than oil, 3 are more likely oil than gas. I would not be surprised if the outcome were 10 Tcf of gas and 3 billion barrels of API 20 oil.


The above looks very much like an analysis that it is predominantly oil that will be found, and in huge quantities too!

deramp or realistic? ...... i think finding gas will equate near enough to the well being a dud; you disagree, so does that make you a raving ramper as so many others say of you?

cynic if neither oil or gas aren't found then at least we may see the last of pp the arch ramper for some time.

Another point worth thinking about is that, by the time FOGL starts producing oil (if there is anything to produce) and if there is any stability in IRAQ, then the latter may be producing in large quantities thereby depressing the oil price. Given that the extraction costs/barrel in the FI will be relatively high, this could mean that the margins will be very low. This is a significant risk, which could affect any of the FI oilies.

Likewise, the US will be self sufficient in gas before too long, and so the value of this commodity will be under pressure as well.

though we are already working with the LNG market, we cannot see quite how it will develop - that is to say, it most assuredly will develop and become a significant power source, but quite what track it will follow is very unclear ...... however, it is correct to say that gas prices in usa are currently very depressed though i do not know why

cynic post 1287, no need for bitchyness because as you are well aware i'm a full blooded heterosexual male!!..:D)

As for blackdown, what a stupid desparate looking statement..

GB - ahem! pot? kettle? .... did i allude you to being a liar? ..... if the cap fits etc! .... and for all we know you could be an ageing ladyboy; after all, you might be lying when denying

In reply to blackdown's limp attempt at negativity.

Crude oil prices denominated in euros surged above the levels of 2008.
The surge in oil prices comes as demand suprises,holding up remarkably well in spite of weak global economic growth and a plethora of supply disruptions, in particularly in the North sea and Iran indicating some tightening, as Iran oil production has fallen below 3mil bblpd.
From the FT Sat 18 Aug.

granny

Only referring to published research. FOGL, if it finds anything, won't become a producer for several years. Iraq could be a major producer by then.

Well thats upto date research from International Energy Agency that i post from the FT, and the fact that FOGL won't be producing for several years is neither here nor there, who knows the state of the world in two/three years time, in fact if the Iran situation escalates then what will the price of oil be then?..

I see Israel are issuing gas masks to their population in readiness for a strike on Iran soon. Looks like a matter of 'when' not 'if'.

pump prices to go to £140+p per ltr by end of month.,.

Israel attack should be Q1 2013 imo. Will devastate Kurdistan and other middle east located oil and gas companies imo.

Good news for oil price going up and for oil and gas companies not located in the middle east.

have you been on the magic mushrooms again or has the sun fried your brain?

as so often, you start with a (just) tenable premise and then jump to the most preposterous of conclusions

Israel have gone on record several times stating that their window of opportunity will close before the end of this year, with the latest time line given OCT of before end of NOV.
Of course they could stretch this out to 2013, but my bet is they will attack within the next couple of months.
When they do, the USA will have no option but to back them in any military strike.

Although I, like most reasonable, sensible people do not want war, as I feel there is no alternative, the sooner the better for the worlds sake.

Don't kid yourself. If Israel attackes Iran, then the whole of the Middle East will go up, with profound consequences for the rest of the world.