We were asked to comment today by the Nottingham Post on an article that appeared today in the Sun newspaper. The Sun article referenced what appears to be a press release issued by INEOS who have a 45% interest in PEDL 200, the licence area that includes the Tinker Lane borehole site. It is not so obvious from the Sun article (reports a find of 30 years worth of gas) what test results are being referred to by Tom Pickering of INEOS who is featured in the article. The reporter from the Post confirmed that it was actually the Tinker Lane borehole results but was unable to share the press release with us.
Now that information, that there was gas in vast and commercial quantity came as something of a surprise to me as its runs counter to what the Tinker Lane CLG had been lead to believe. We were told that there was some “quite light crude” in evidence but not in a commercial quantity, certainly not from a 7 inch borehole. IGas did not encounter the Bowland Shale, (an earlier IGas Trading Statement confirmed/lamented that) but they informed us at CLG that they had evidenced a “quite light crude” coming from the Millstone Grit. It seems that the press release seeks to extrapolate from the findings at Tinker Lane “Tests found an average level of 60.7 standard cubic feet per tonne of gas (sic) – compared with an average 39 (scf) at a vast shale field in Texas.” to what might yet be available in the Bowland Shale reserves.
We have commented to the Nottingham Post that had gas been found in such quantity that IGas might have made great play of the fact and not have released such a downbeat Trading Statement and if gas had been found in such quantity at Tinker Lane that the borehole might not have been abandoned and plugged top to bottom with concrete.
This update came via TINKER LANE
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