Shale gas driller asks France for 1 billion euro compensation

Reuters: 

U.S.-based energy firm Schuepbach Energy is asking the French government for 1 billion euros ($1.36 billion) in compensation for blocking its shale gas exploration permits in France, an industry newsletter said on Friday, citing unnamed sources.

Olisi kiintoisaa tietää mihin vaaditttu summa perustuu: hatusta heitetty luku vaiko ihanko arvioon potentiaalisista reserveistä. Korvausvaateella pyritään kai vain painostamaan Ranskan hallitusta/valtiota muutoksiin lainsäädännön suhteen. Tuskin onnistuu.

Puuttuva sentti, uusi tirehtööri ja nyse-listaus

Vermilion Energy Inc. Announces Dividend Increase, France Acquisition, Production and Capital Guidance, Initiation of NYSE Secondary Listing and Appointment to Board of Directors

"Vermilion has entered into a definitive agreement with ZaZa Energy Corporation ("ZaZa") whereby Vermilion, through certain of its wholly owned subsidiaries, will acquire 100% of the shares of ZaZa Energy France S.A.S ("ZEF") (the "Acquisition") for approximately US$86 million, subject to customary closing adjustments, including working capital. ZEF's operating interests cover approximately 24,300 acres and 100% working interests in the Saint Firmin, Chateaurenard, Courtenay, Chuelles, and Charmottes fields in the Paris Basin. Current production is approximately 850 bbl/d of light Brent-based crude oil (approximately 27˚API). Proved plus probable developed producing reserves(3) at December 31, 2012, as evaluated by GLJ Petroleum Consultants Ltd. ("GLJ"), were estimated to be approximately 6.3 million boe with a reserve life index of over 20 years, reflecting the low decline rates of the acquired assets. The Acquisition is subject to customary conditions and receipt of all necessary regulatory approvals. Acquisition metrics of approximately US$101,000 per boe/d and US$13.65 per boe of proved plus probable developed producing reserves continue to reflect the high netback, long-life nature of the acquired assets. The Acquisition will be financed with existing bank debt capacity. Following closing of the Acquisition, Vermilion will continue to maintain considerable financial flexibility, with approximately $500 million of remaining borrowing capacity and a net debt-to-fund flows from operations ratio of approximately 1.2 times, which remains well below our peer group average."

ja

"Vermilion further wishes to announce that it has initiated the process with the NYSE Euronext for a secondary listing of the Company's common shares on the NYSE Euronext's New York Stock Exchange ("NYSE"). Listing will be subject to fulfilling all of the listing requirements of the NYSE. Pending receipt of all applicable exchange and regulatory approvals, the Company expects its common shares will be listed on the NYSE during the first quarter of 2013 under the ticker symbol "VET""

ja

Including the Acquisition, Vermilion's capital program for 2013 is anticipated to deliver production growth of approximately 6%, resulting in average daily 2013 production between 39,000 to 40,500 boe/d. We project that our product mix will be approximately two-thirds weighted to oil and natural gas liquids, with the remainder split roughly equally between Canadian natural gas and high-netback European natural gas (which has received an average price greater than US$9.50 per mcf thus far in 2012).

Zazan toimintojen osto ei ollut yllätys, kun myyntihalut oli tiedossa, realistisia ostajakandeja oli vain pari ja VET näistä ylivoimaisesti todennäköisin. Myyntihinta ei näytä pahalta, kun on kyse Brent-hinnoitellusta tavarasta. Koskaan ei tietenkään tiedä mitä kivaa Ranskassa keksitään maan harvoille öljyntuottajille kiusaksi.

VET löysi tuoreille anti-rahoille käyttöä

VERMILION ENERGY INC. ANNOUNCES ACQUISITION OF OIL PRODUCING PROPERTIES IN FRANCE

Vermilion Energy Inc. (“Vermilion” or the “Company”) (TSX – VET) is pleased to announce that it has entered into definitive
purchase and sale agreements with Total E&P France (“Total”) whereby Vermilion, through its wholly owned subsidiaries, will acquire certain working interests in six producing fields located in the Paris and Aquitaine basins in France (the “Acquisition”). The Assets (as defined below) are expected to average approximately 2,200 boe per day of production in 2012, weighted 86% to high quality Brent based crude, and add an estimated 6.7(1) million boe of proved plus probable reserves (96% crude oil) . Taking into consideration an effective date of January 1, 2011, customary closing adjustments, and an anticipated closing in late January 2012, the cash to close the Acquisition is currently estimated at approximately C$115 million. The Acquisition remains subject to customary conditions and receipt of all necessary regulatory approvals.

Vermilion keräsi muutama viikko sitten neljännes miljardin verran annilla(jossa osakkeen hinta oli kymmenyksen tuoreinta noteerausta korkeampi) ja kun yhtiön tase ei tuon kokoista rahankeruuta vaatinut odotettavissa oli että jotain aikovat hankkia. Hankinta on luonteva ja hinta kohtuullinen, mutta ei reserveihin nähdä halpa. Kumpi lienee ollut aloitteellinen? Totalin tiedote viittaisi siihen että myyjä. Toivon mukaan tässä on VETin kannalta kyse opportunismista, eikä tässä kompensoida Corrib-projektin uusia viivästyksiä.

"France May Revoke Shale Oil Permits in October, Minister Says"

Bloomberg:

France may quash permits to explore for oil and natural gas in shale under the country’s hydraulic fracturing ban as soon as next month, according to Environment Minister Nathalie Kosciusko-Morizet.

Oil and gas companies that were planning to explore for shale hydrocarbons under previously granted licenses have until Sept. 13 to inform the government whether they plan to use the technique known as fracking, the minister said in an interview at a conference outside Paris.

“After that we have one month to decide the fate of the permits,” she said. “If a company says it’s planning to use hydraulic fracturing, their permit will be canceled. It’s the law.”

Perusteet, joilla lupia meinataan viedä vaikuttavat aika epämääräisiltä. Tuskin tämä on pysyvää. Pohjois-Amerikassa on frakattu tuhansia kaivoja ja vahinkojen määrä on olematon. Pelkoa ja hysteriaa on Amerikassakin, mutta noiden tunnetilojen saavuttaminen ei edellytä todellista uhkaa.

Suuri uutinen Ranskasta

France told to save the great hamster

PARIS: France has been punished for not taking proper care of its hamsters.

The Court of Justice in Luxembourg, the European Union's highest court, has ruled France failed to protect the great hamster of Alsace, sometimes known as the European hamster, the last wild hamster species in western Europe. If France does not adjust its agricultural and urbanisation policies to protect it, the court said, the government will be subject to fines of millions of euros.

Kauhiata. Karvaturreista eivät pidä huolta, mutta frakkaus kiellettiin pikavauhdilla. Sen pituinen se tarina tai ainakin ensimmäinen luku.

"France shale permits to be 'scrapped'"

Upstream:

French Prime Minister Francois Fillon said today that permits granted to explore potential shale fields in France must be cancelled and that the whole issue must be reviewed from the start.

TRGL näyttää ottaneen hieman nenukkiinsa. Itselläni salkuissa Lundinia ja Vermilionia, mutta näissä yhtiöissä on runsaasti substanssia ilman Liasin tiukkaa öljyä, joten niiden kurssit eivät tähän ole reagoineet mitenkään.

Ruottalainen Tethys Oil ilmoitti tänään hankkineensa reilun kolmanneksen osuuden Paris Basinin itäpuolella olevasta blokista. Tiedotteessa mainitaan jostain syystä kahdesti "conventional oil". Yrittävätkö vakuutella paikallisia vai vihjailla sijoittajille jotain?
Olen muuten ollut jo neljä vuotta Tethyksen postilistalla, mutta en ole missään vaiheessa omistanut yhtiötä. Ainuttakaan toimariakaan en ole osakkeista tehnyt.

Tällainen pätkä tuli vastaan viime viikolla:

A joint French Ministry press release issued on February 11,
2011, indicates that Vermilion is currently producing
approximately 63 boe/d from two previously stimulated vertical
wells in the Liassic shale in France. VET has approximately
176,000 net acres of land in the Paris basin and is in the process
of acquiring rights to up to 636,000 additional net acres.

Lias

Ranskan Bakkeniksi kutsuttu muodostelma:




Listtatuja pieniä ja keskikokoisia, jotka ovat mukana tällä hetkellä:

Lundin(SSE: LUPE)
Realm(Venture:)
Toreador(Nasdaq: TRGL )
Vermilion(TSX: VET)

Noiden lisäksi muutamilta juniori-sarjan yhtiöiltä löytyy oikeuksia potentiaalisimpana pidetyn alueen ulopuolelta(mm. Sterling Resources ja Elixir Petroleum). Melkein kaikki yrittävät lisätä oikeuksiensa määrää tällä hetkellä, mutta kaikki tuskin saavat haluamansa lisäoikeudet.

Liasiin liittymätön BNK Petroleum sai emissiolla 60 miljoonaa dollaria Sorosin Quantumilta muutama viikko sitten ja Realm tiedotti torstaina saaneensa 6 miljoonaa samalta taholta.

Linkkejä(uutisia & geologiaa):

Paris Basin Shale Oil Could have more recoverable oil than the Bakken oil field(syyskuu 2010)

Paris Oil Drillers Target 100 Billion Barrels Near Brie, Wine(lokakuu 2010)