Oil and Gas fields off the Irish Coast


#301

Probably.
Mostly the shares the referred to were things like that.
More substantive stuff around bank shared, harping on about the provisions for bad debt and losses being way too low and that this would come back with a vengeance to bite (which it did). And also some decent analysis on wrong-steps taken by Ryanair (not fatal, obviously, but made a couple of quite bad moves during previous oil-price spikes).

The exploration stuff (mining, oil and gas, etc.,) however was very much in the penny stock vein. As you say, makes for better copy when people feel they’re being let in on something.


#302

Ach, Tuskar Resources. Jeeburs. :slight_smile:

I still maintain this article is suspect and dodgy in some way with a one liner ‘pretend balance’ containing that 1 in 32 number at the end. Problem is I don’t know the precise instigator. Providence share price dodged a bullet (falling below 400) for today at any rate, The same share price was 550 or so in mid July.

My best guess is that the O Reillys are trying to stabilise this roughly in the high 300s and ensuring the times prints some BS or other is a help. Jolly decent of the Times anyway. :slight_smile:

I said last week the next ‘ramp’ would start at around 300 but the O Reillys seem to averse to 300 levels. and hence this thing in the Times today. :slight_smile:

Nobody is sitting on an Ekofisk they are keeping quiet about, that’s for sure. :slight_smile:


#303

The Rig that Cairn will use to drill Spanish Point has already been confirmed.

offshore.no/sak/59227_dolphin_confirms_drilling_duo

I’m also not going to be one to stick up for O’Reilly but lets look at what Providence have achieved.

They were the Operating company that found Barryroe which is the first commercial discovery since Corrib and is Irelands only commercial Oil discovery to date.

They managed to convince a company the size of Exxon to take a punt on Ireland and drill a deepwater exploration well off the west coast. Exxon were hardly doing it for fun.

They’ve managed to convince Cairn to become Operator for the Spanish Point prospect who have now confirmed that they will drill a well Q2 next year and secured the rig 1 year in advance.

To be honest I don’t think there would be much Oil and Gas activity (With the exception of Shell on Corrib) in Irish waters if it wasn’t for the involvement of Providence.

My 2 cents worth anyway.


#304

No one wants to get involved in Irelands Oil n Gas because of our shamish approach… not because of the resources.
Most companies either want to deal with professionals or complete crooks… both are consistent. The prob in Ireland is we have a hybrid… n you’d have to feather nests while still jumping through a few loops.


#305

exactly!


#306

The geology of Ireland and Britain are actually very similar. Certainly far more in common than the points of difference.

https://www.discoveringfossils.co.uk/europe_geology_map.jpg

bgr.de/karten/IGME5000/igme5 … 2005_g.jpg

The geological conditions necessary for the formation of Oil/Gas reserves is quite complex, and has very little to do with the presence of coal or otherwise. Here’s a good (short) read.


#307

That’s a ridiculous generalisation. They aren’t very similar. Your map shows the age of rocks, not the type of rocks. And it is completely inaccurate - significant coal measures in Munster and precambrian all over the in the NE. And in relation to hydrocarbons, the rift basins aside, Ireland is devoid of virtually any mesozoic or later, if it ever existed it was long stripped away.


#308

I provided a map to give an overview of the similarities. The details are in the link provided. The type of rock at the surface of the landmass of Ireland tells us very little about the layers of rock at various depths throughout the Exclusive Economic Zone.

No shortage of Mesozoic whatsoever.


#309

I have built a peaceline divide. All the inane posting can continue here

viewtopic.php?f=15&t=60419

The geopolitical forces, via a visit from a man in a convertible aston martin with a total honey called Pussy in the passenger seat, directed this move.

Or did I dream that?

I hate being a dim southerner at times.


#310

Don’t know what thread to continue this conversation in, but you’re bluffing on this one Coles. You provided a 2d map of the surface geology of dry land to show the geology of Britain and Ireland is similar. Even at that level it is incorrect because the map is inaccurate.

Accepting that this map is at best irrelevant, you’ve provided nothing to back up your claim that the deep geology of Ireland EEZ is similar to Britains EEZ. It is a daft claim to make in response to someone pointing out that UK geology in gas bearing areas is very different to the Geology of the Irish coast. In reality the only relevance for hydrocarbons lies in the general similarities in the basins off the west coast of Ireland and Scotland, and they’ve managed to get bugger all out of them either.


#311

This oil and gas stuff sure sounds complicated.
JR made is all seem so simple.
The Beverley Hillbillies too.


#312

What you’ve just done to all my posts is completely outrageous. All that effort, analysis and engagement you have simply dumped. You have unpublished me. Completely unacceptable.


#313

Buffalo soldier is right. In relation to the coal, the deposits are located in the westphalian age rocks which aee limited to a few areas in Ireland. Additional the coal seams are cms thick, the uk deposits are metres thick. Ive been in both and there is a world of difference. Some namurian rocks have mm thickness.

Additional coal is the major source rock for gas in the north sea and irish sea.
Organic shales are more important for oil.

Hopefully there is loads of gas fields near the corrib field and in the rockall basin but it gets very theoretical when you drill down into the numbers. :wink:


#314

here are some slightly more detailed maps. Knock yourselves out

scribd.com/doc/157644835/201 … OMBEG-1-wq
scribd.com/doc/157644721/201 … THLIN-1-wq
scribd.com/doc/157644383/201 … RYROE-3-wq
scribd.com/doc/157644470/201 … -1of2-2-Wq
scribd.com/doc/157644603/201 … -2of2-1-Wq


#315

It is a pretty bad map. On a point of pedantry though, the Dalradian rocks of the northwest are regarded as Precambrian (their age was fairly hard to pin down because of metamorphism) and Mesozoic rocks still exist under (and can be seen at the margins of) the Antrim basalt.

It would be nice to have access to an offshore geology GIS where you could remove some of the irrelevant stratigraphy.


#316

You’re the chap who claimed that Ireland has no Mesozoic! And when I provided a link to show that the exploration of the EEZ was finding similar geology to the British EEZ you completely ignored it. I proved a summary map of European Geology to show the similarities between Ireland and Britain relative to the rest of Europe and you rubbished it while failing to notice the link to the detailed map of European geology. This isn’t a mickey swinging contest. It’s a discussion, an exchange of opinion, and I think the thread would benefit it you would engage with it on that level.


#317

independent.ie/business/iris … 70772.html


#318

A swallow a summer makes does not…or something like that. This is the first ‘forward looking’ piece of news since the dry Dunquin well last month.

irishtimes.com/business/sect … -1.1498638

I thought they were OPTIONS and they MUST DRILL by March 2015, their 5 blocks are over 100 miles south of Mizen , did they ever get that 3D farm in deal for seismic acquisition this summer like they hoped to when the going was goodly??? I am aware of some ‘good’ news (before the dry Dunquin) as was gushed by the Indo …here > independent.ie/business/iris … 89622.html but I personally don’t believe it. Surely they didn’t get the 3D seismic that early?? :slight_smile:


#319

qz.com/118825


#320

Yet another setback for Shell on Corrib.

rte.ie/news/2013/1015/480557-corrib-gas-epa/