Harry Lamb Posted August 29 Share Posted August 29 3 hours ago, Moghrey Mie said: https://www.iomtoday.co.im/news/crogga-founder-takes-company-to-tribunal-over-pay-dispute-711606?fbclid=IwY2xjawE9RgxleHRuA2FlbQIxMQABHSWzMPFP09EffOq3KYAhoDViRGNd8hfwzIbRfivoP7SM2u1ICGTZnvTOgA_aem_3I8LS1_20C_j0clDzcj3tA Operationally insolvent - still we're going to get all that money from them and cheap energy, and we won't need windmills, and your cheque's in the post, and I won't come in your 2 Quote Link to comment Share on other sites More sharing options...
Two-lane Posted August 29 Share Posted August 29 Three directors, two of whom are architects. "Mr Hubbard, on the other hand, is certainly well-known for previous roles in the oil and gas industry, having been chief geologist at BP and then director of international operations for Norwegian oil company Statoil until he resigned in 2003." There is resigning, and on the other hand, resigning: https://en.wikipedia.org/wiki/Statoil_corruption_case Does he have any other oil/gas industry experience in the intervening 20 years? Quote Link to comment Share on other sites More sharing options...
b4mbi Posted Tuesday at 11:31 AM Share Posted Tuesday at 11:31 AM £2.8 Billion income.... And literally on the same front cover "Health overspend is destabilising finance" How can it be spelled out more clearly the benefit of the development of the gas field? IOMG can't any longer afford to ignore the potential. How anyone can believe £2.8Bn is not in the best interests of everyone on the Island, I do not know. The way the DoI have dragged their feet on the licence work programme variation request is unforgivable, it shouldn't take over 2 years to make a decision - nor to get appropriate regulations in place. I hope this is bought up in the IOMG Conference. What revenue are Orsted promising to IOM Treasury? 1 2 1 Quote Link to comment Share on other sites More sharing options...
Kopek Posted Tuesday at 01:46 PM Share Posted Tuesday at 01:46 PM The only way to determine the value of this project to the Isle of Man will be after 5 years of operation? The contract will have many get out clauses, actual volume recovered etc??? Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted Tuesday at 01:50 PM Share Posted Tuesday at 01:50 PM (edited) Absolutely nothing Crogga have said at any point gives rise to any confidence in them. I don't even know why I feel this way, there's something shifty about them and always has been. And I say that as someone who thinks we should sell the gas! Edited Tuesday at 02:17 PM by TheTeapot 1 Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted Tuesday at 02:10 PM Share Posted Tuesday at 02:10 PM On 8/29/2024 at 5:39 PM, Two-lane said: ...any other oil/gas industry experience in the intervening 20 years? I changed the oil in the car last month...so I've sent my cv in. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted Tuesday at 03:09 PM Share Posted Tuesday at 03:09 PM 1 hour ago, TheTeapot said: Absolutely nothing Crogga have said at any point gives rise to any confidence in them. I don't even know why I feel this way, there's something shifty about them and always has been. And I say that as someone who thinks we should sell the gas! As I posted above, I don't understand how they can be making assertions of this magnitude based on 30 year old data, particularly when it's inconclusive as to the volumes or even presence there. If they conduct a survey using up to date techniques and technology it might confirm that there is indeed an exploitable gas field, in which case, fine. But it might also confirm that there is little or nothing there, in which case investors will have saved themselves and everybody else a great deal of time and money. It's difficult to smell gas at the moment because it's overcome by the bitter-sweet smell of snake oil and we've all got experience of that. Quote Link to comment Share on other sites More sharing options...
b4mbi Posted Tuesday at 03:16 PM Share Posted Tuesday at 03:16 PM 1 minute ago, Non-Believer said: As I posted above, I don't understand how they can be making assertions of this magnitude based on 30 year old data, particularly when it's inconclusive as to the volumes or even presence there. If they conduct a survey using up to date techniques and technology it might confirm that there is indeed an exploitable gas field, in which case, fine. But it might also confirm that there is little or nothing there, in which case investors will have saved themselves and everybody else a great deal of time and money. It's difficult to smell gas at the moment because it's overcome by the bitter-sweet smell of snake oil and we've all got experience of that. For the millionth time, gas is already proven as being in place by previous drilling. More survey work cannot determine whether the gas flows or not. Only drilling will definitely confirm if the gas is under enough pressure to flow to surface. If investors are willing to take that risk with existing data and their own money, why has anyone a problem with that? Nothing ventured, nothing gained. Isle of Man, where we say you can, but you just can't. 1 2 Quote Link to comment Share on other sites More sharing options...
b4mbi Posted Tuesday at 03:21 PM Share Posted Tuesday at 03:21 PM 1 hour ago, Kopek said: The only way to determine the value of this project to the Isle of Man will be after 5 years of operation? The contract will have many get out clauses, actual volume recovered etc??? The first step of which is drilling to see if the value can be realised. IOMG must unequivocally enable this by adopting appropriate regulations before investors will risk the £32.5million capital needed to drill. 1 Quote Link to comment Share on other sites More sharing options...
Two-lane Posted Tuesday at 03:50 PM Share Posted Tuesday at 03:50 PM https://www.crogga.im/ "Scheduled Maintenance This site is currently offline for scheduled maintenance. Please check back soon." Hmmm. Quote Link to comment Share on other sites More sharing options...
Kopek Posted Tuesday at 04:37 PM Share Posted Tuesday at 04:37 PM 1 hour ago, b4mbi said: he first step of which is drilling to see if the value can be realised. I was referring to after extraction has begun. We will not know the return to 'us' until some time after the actual start of extraction. Obviously we will not be told the terms of the contract, nor when any payments will begin, or any conditions which could reduce the 'promised' payments. We will just have to wait? Quote Link to comment Share on other sites More sharing options...
Gladys Posted Tuesday at 04:42 PM Share Posted Tuesday at 04:42 PM 2 minutes ago, Kopek said: I was referring to after extraction has begun. We will not know the return to 'us' until some time after the actual start of extraction. Obviously we will not be told the terms of the contract, nor when any payments will begin, or any conditions which could reduce the 'promised' payments. We will just have to wait? I hope there is no contract other than a licence. A contract implies some kind of obligation on IOMG; there should be none other than the licence. 1 1 Quote Link to comment Share on other sites More sharing options...
The Phantom Posted Tuesday at 04:47 PM Share Posted Tuesday at 04:47 PM 2 minutes ago, Gladys said: I hope there is no contract other than a licence. A contract implies some kind of obligation on IOMG; there should be none other than the licence. I don't believe they've asked for any Govt funds, surely that would have been made public. They're only asking for permission to drill and yet still we're delaying and pretty much just flat out ignoring them. Would it hinder Orsted I wonder. Someone has been doing some really solid gridwork surveying recently. Quote Link to comment Share on other sites More sharing options...
Two-lane Posted Tuesday at 04:49 PM Share Posted Tuesday at 04:49 PM You business-type people are usually for the "Have you done due diligence?" stuff. Is there any publicly available information about the Grogga group and its directors? 1 Quote Link to comment Share on other sites More sharing options...
WTF Posted Tuesday at 04:50 PM Share Posted Tuesday at 04:50 PM 1 minute ago, The Phantom said: I don't believe they've asked for any Govt funds, surely that would have been made public. They're only asking for permission to drill and yet still we're delaying and pretty much just flat out ignoring them. Would it hinder Orsted I wonder. Someone has been doing some really solid gridwork surveying recently. they are working out where to put the next wind farm to disrupt the boats route. 1 Quote Link to comment Share on other sites More sharing options...
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