The bill only passed because the Govt agreed to include all the oppositions amendments .
These include :-
- no drilling in areas of outstanding beauty or national parks
- no drilling in water catchment areas .
- the requirement to monitor ground water methane and other baselines for a full 12 months before drilling
- distance between laterals and surface ?/aquifers? to be increased from 300m to 1,000m .
These changes makes an absolute mockery of the 14th onshore licensing round which they are evaluating applications for at the moment ! Some applicants are bound to cancel now .
The irony is that whilst only 15% of the country is a water catchment area , the basins where the shale is located are typically is overlain by shallower sediments from which water is extracted .
Sorry about the source of the map here but it shows the license areas overlain with water catchment areas and areas of outstanding natural beauty :-
The Bill goes through more readings before finally becoming law and details will be ironed out and their are rumours that amendments may be relaxed some but as it stands :-
- 90% of Europa's very , very promising shale in the Humber basin will be lost if drilling cannot take place in the outer water catchment area , about 30% if only the inner catchment area
- Dart-Igas lose about 30% of the Gainsborough trough and around 20% of their North West acreage
- Magellan and Celtique lose about 50% of their core Wealden basin acreage
- Cuadrilla get off lightly and only stand to lose about 25% of their Bowland acreage
Don't forget all the scientific evidence to the effect that risk to aquifers is minimal .
Cuadrilla still have plenty of UK shale opportunity .
AJL Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
