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offsite link New Books Worth Reading Mon Sep 19, 2016 23:25 | Seán Sheehan

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offsite link Fake News: The Epistemology of Media Wed Jun 07, 2017 11:52 | Gavin Mendel-Gleason

offsite link Officials and Provisionals Sat Apr 01, 2017 22:54 | James O'Brien

offsite link Interview with Cathal Goulding Mon Dec 26, 2016 17:11 | Cathal Goulding

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The Saker
A bird's eye view of the vineyard

offsite link Syrian War Report ? July 24, 2017: Syrian Army Made Large Gains In Raqqah Province Mon Jul 24, 2017 20:43 | Scott
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Dear friends, An old military saying goes “no plan survives the first contact with the enemy”.  I think I will modify it and say that no plan survives the first

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by Scott Humor Made In Russia SITREP IV What does Russia produce? 3 What does Russia produce? 1 What does Russia produce? 2    Time – Forward! #253  Russian transcript

offsite link Moveable Feast Cafe 2017/07/23 ? Open Thread Sun Jul 23, 2017 02:00 | Herb Swanson
2017/07/23 01:00:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link Syrian War Report ? July 21, 2017: Fierce Clashes Between Army And ISIS Fri Jul 21, 2017 23:56 | Scott
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The Saker >>

Corrib benefits from high price of gas

category national | worker & community struggles and protests | press release author Friday March 03, 2017 23:32author by shell2sea Report this post to the editors

[Shell to Sea]The Oil & Gas giveaway in action: The Corrib Gas partners made $589m (estimated €532m) last year and yet paid no royalties or tax.

The Corrib Partners are benefiting from a relatively high gas-priced product and recorded estimated sales of over €420m in the first full year of production at the Corrib gas field.

Production started on the field at the end of 2015. For the 12 months of last year, the Corrib Partners, including Shell Ireland, recorded estimated revenues of (Canadian) $589m from the production of gas from the field.

Taken from Pg 50 of Vermilions Annual Financial Report 2016: available
Taken from Pg 50 of Vermilions Annual Financial Report 2016: available

This follows a new report by one of the Corrib partners, Canada-based Vermilion showing that it has generated sales of $109m for the 12 months.

Vermilion owns 18.5pc of the field and based on Vermilion's Corrib sales between January and December of last year, the total sales from the field for the three partners would be $589m (€423.47m).

Vermilion state that its investment in the field will be a significant source of fund flows for Vermilion "stemming from its relatively high priced gas product".

Vermillion also point to the field being a significant source of fund flows to the firm from the "lack of cash income tax for the foreseeable future" along with the absence of royalties, low operating expense and low-maintenance capital requirements.

The new results for Vermilion show that the amount it recorded in sales from Corrib increased sharply in the final quarter of last year.

According to the Vermilion report "production results continued to benefit from better than expected well deliverability and minimal downtime".

Vermilion 'fund flows from operations' last year totalled $79.24m after taking costs into account.

The Vermilions Annual Financial Report 2016 is available here:
http://www.vermilionenergy.com/files/ir/2016/Annual_Rep...6.pdf

Related Link: http://shelltosea.com/content/corrib-benefits-high-pric...e-gas
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