Fintech PR
A Major Gas Find Could Upend European Energy Markets
FN Media Group Presents Oilprice.com Market Commentary
LONDON, March 14, 2024 /PRNewswire/ — As Europe realizes the full risk of relying on foreign oil and gas, it could soon find relief coming from an unexpected source. That’s because, after years of leaning on cheap Russian gas, geopolitical shifts have changed the equation. Both the war in Ukraine and simple economics have forced the EU to pivot from strict green energy policies. Companies mentioned in this release include: Chevron Corporation (NYSE: CVX), ExxonMobil Corporation (NYSE: XOM), ConocoPhillips (NYSE: COP), Talos Energy Inc. (NYSE: TALO), Cheniere Energy, Inc. (NYSE: LNG).
The Wall Street Journal reports, ‘Europe cuts addiction to Russian oil.’ And The Washington Post announced recently, ‘Amid energy crisis, EU says gas can sometimes be ‘green.”
The message is clear: Europe is scrambling to diversify its energy sources and achieve true energy independence.
For decades, prime targets for natural gas have gone completely overlooked.
That’s why one Canadian energy company, MCF Energy (MCF.V; MCFNF.QX), is on a mission to help secure Europe’s energy independence and explore these long-ignored assets. And with the acquisition of a proven target in Germany, the landscape could shift dramatically in the coming months.
MCF Energy Targets Overlooked Natural Gas Reserves in Germany
MCF Energy announced several major new acquisitions in Germany. The company has secured rights to four key assets to date.
The company is specifically targeting their concession at Lech , which spans about 10 square kilometers in Bavaria. That’s because the property holds 3 wells already drilled decades ago, with two confirming discoveries of natural gas.
In the early 1980s, Mobil Oil began drilling in search of oil at the property and discovered a primary gas reservoir. At the time, testing showed a maximum flow rate of 24 million cubic feet per day (MMCFD) of natural gas with associated condensate.
Now, with 3D imaging and proprietary AI and machine learning technology, MCF Energy (MCF.V; MCFNF.QX), plans to pinpoint even more promising locations at the property.
Specifically, they’ll use this data to target more high-value prospects on their Lech East site, which adds another 100 square kilometers. Based on the imaging, the team has already keyed in on multiple locations, with potentially more to come once drilling commences in Q1.
By leveraging the millions of dollars that Mobil Oil spent on this 3D seismic imaging, MCF Energy could soon play a key role in helping wean Europe off its addiction to Russian gas.
Industry Trailblazers Primed to Capitalize on Europe’s Overlooked Potential
MCF Energy is led by CEO James Hill, a seasoned geologist with over 40 years of experience exploring and developing assets across North America and Europe. Among Mr. Hill’s long list of projects is one of the largest onshore oil fields ever found in Europe, at the Patos Marinza Oil Field in Albania where production was increased over 2000%. After a successful career, Hill had retired. But because of the size of the opportunity at hand, his retirement was short-lived.
With Russia’s invasion and the EU’s pivot to classify natural gas as ‘green energy’, Hill and his team are uniquely positioned to tap into Europe’s vast, overlooked oil and gas reserves.
In 2022, they began six months of due diligence, conducted on 20 assets. Since then, MCF Energy has acquired rights to Europe’s most high-priority and high-conviction locations.
That includes the four assets in Germany through the strategic acquisition of a private German company, Genexco. The move gives MCF Energy not just the proven assets drilled by Mobil decades ago. It also provides a team of experts with inside knowledge of both the terrain and how to navigate complex zoning and licensing processes in Europe.
With drilling set to commence this quarter at their Lech concession, pipelines are located less than 2 km away to bring energy throughout Europe. That makes transportation significantly easier and more economical for MCF (MCF.V; MCFNF.QX) if they discover the volumes of natural gas that they expect, given the past results and 3D data.
A Trillion Cubic Feet of Natural Gas in Austria?
MCF Energy’s leadership has been vocal about their confidence in a major discovery in Germany due to Mobil’s past work there. But the company’s most exciting prospect could come from MCF Energy’s other recent acquisition in Austria.
The company recently acquired rights to the Welchau prospect near the Austrian Alps.It covers 100 square kilometers and includes a large anticline structure, a large bump similar to what’s found in the Kurdistan Region of Iraq or the Italian Apennines.
In the 1980s, an Austrian oil and gas company, OMV, drilled the Molln #1 on the side of this structure, 5 kilometers away from MCF Energy’s well location at Welchau and discovered the presence of gas and condensate.
LIVE DRILLING UPDATE: 03/11/2024 – MCF Energy has just confirmed an active petroleum system at the Welchau-1 well site. The well successfully reached a depth of 1155 metres on March 10 and drilling to the main target is underway with completion anticipated by month end. CEO of MCF Energy, James Hill, said, “The drilling results so far are very promising, and the indications of gas and heavier hydrocarbons are particularly encouraging for us.” Read the full release here
Gaffney and Cline’s analysis suggests that the property could produce up to 584 billion cubic feet of gas on a best-case level, with 10 million barrels of oil. But Hill believes that, if the seal is as good as it appears, that number could nearly double to the reported 1 TCF of gas and 18 million barrels of oil.
If MCF Energy (MCF.V; MCFNF.QX) discovers anywhere near that volume of gas, especially just 18 kilometers from a national pipeline, it could be transformative for Europe’s energy crisis.
Other companies to keep an eye on:
Chevron Corporation (NYSE: CVX), a titan in the global energy market, demonstrates an unwavering commitment to leading the natural gas sector through significant investments in exploration, production, and distribution. Chevron’s strategic involvement in major LNG projects across Australia and Africa is a testament to its ambition to dominate this crucial energy sector.
In parallel, Chevron’s prowess in the oil sector remains foundational to its operations. The company boasts extensive reserves and a robust downstream presence, underpinned by a commitment to efficiency and sustainability.
Exxon Mobil Corporation (NYSE: XOM)‘s influence on the global energy stage is profound, with strategic investments in the natural gas sector positioning it as a leader in this rapidly evolving market. The company’s engagement in LNG projects and shale gas exploration highlights its commitment to meeting the world’s shifting energy consumption patterns.
Simultaneously, Exxon Mobil’s legacy in the oil sector continues to be a significant driver of its revenue, with global operations marked by an unyielding pursuit of operational excellence.
ConocoPhillips (NYSE: COP) has adeptly balanced its energy portfolio between natural gas and oil, reflecting a nuanced understanding of the world’s changing energy consumption trends. The company’s strategic investments in natural gas, particularly in North America and Asia, highlight its commitment to securing a leadership position in this increasingly important sector.
At the same time, ConocoPhillips’ commitment to oil exploration and production remains unwavering. The company’s operations, which span multiple continents, are a testament to its industry leadership and commitment to sustainable production methods.
Talos Energy Inc. (NYSE: TALO) marks its presence in the exploration and production sector with a focused approach on the United States Gulf of Mexico and offshore Mexico, showcasing its prowess in tapping into the significant oil and natural gas resources of these regions.
Talos Energy’s commitment to sustainability and reducing its environmental impact is central to its operations. The company’s involvement in carbon capture initiatives and its continuous exploration of technological advancements to minimize its ecological footprint reflect a forward-thinking approach to energy production.
Cheniere Energy, Inc. (NYSE: LNG) is a pioneering force in the liquefied natural gas (LNG) sector in the United States, boasting one of the country’s inaugural LNG export facilities. With a business model that covers the entire LNG value chain, Cheniere is strategically positioned to leverage the increasing global demand for natural gas, recognized as a pivotal cleaner energy source.
Cheniere’s efforts to enhance the environmental performance of its operations reflect a broader commitment to facilitating the transition to a lower-carbon future, aligning with global energy trends and consumer expectations for more sustainable energy solutions.
By Charles Kennedy
**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**
Forward-Looking Statements
This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this publication include that large oil and gas companies will continue to focus on offshore natural gas resources; that domestic onshore natural gas assets in Europe will provide a more affordable energy source than offshore resources; that demand for natural gas will continue to increase in Europe and Germany; that Russia will not supply the majority of natural gas in Germany and Europe; that natural gas will continue to be utilized as a main energy source in Germany and other European countries and demand for natural gas, and in particular domestic natural gas, will continue and increase in the future; that MCF Energy Ltd. (the “Company”) can replicate the previous success of its key investors and management in developing and selling valuable energy assets; that the natural gas projects of the Company will be successfully tested and developed; that the Company can develop and supply a safe, domestic source of energy to European countries; that natural gas will be reclassified as sustainable energy which will support the development of the Company’s assets; that imports of liquified natural gas will not be sustainable for Europe and that European countries will need to rely on domestic sources of natural gas; that the Company expects to obtain significant attention due to its upcoming drilling plans combined with Europe desperate for domestic natural gas supply; that the upcoming drilling on the Company’s projects will be successful; that the Company’s projects will contain commercial amounts of natural gas; that the Company can finance ongoing operations and development; that the Company can achieve its business plans and objectives as anticipated. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that large oil and gas companies will start focusing on the development of domestic natural gas resources; that the natural gas resources of competitors will be more successful or obtain a greater share of market supply; that offshore liquified natural gas assets will be favored over domestic resources for various reasons; that alternative technologies will replace natural gas as a mainstream energy source in Europe and elsewhere; that demand for natural gas will not continue to increase as expected for various reasons, including climate change and emerging technologies; that political changes will result in Russia or other countries providing natural gas supplies in future; that the Company may fail to replicate the previous success of its key investors and management in developing and selling valuable energy assets; that the natural gas projects of the Company may fail to be successfully tested and developed; that the Company’s projects may not contain commercial amounts of natural gas; that the Company may be unable to develop and supply a safe, domestic source of energy to European countries; that natural gas may not be reclassified as sustainable energy or may be replaced by other energy sources; that the upcoming drilling on the Company’s projects may be unsuccessful or may be less positive than expected; that the Company’s projects may not contain commercial amounts of natural gas; that the Company may be unable to finance its ongoing operations and development; that the Company can achieve its business plans and objectives as anticipated; that the Company may be unable to finance its ongoing operations and development; that the business of the Company may be unsuccessful for various reasons. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
DISCLAIMERS
This communication is for entertainment purposes only. Never invest purely based on our communication. We have not been compensated by MCF Energy Ltd. for this article but may in the future be compensated to conduct investor awareness advertising and marketing for MCF Energy Ltd. While the opinions expressed in this article are based on information believed to be accurate and reliable, such information in our communications and on our website has not been independently verified and is not guaranteed to be correct. The content of this article is based solely on our opinions which are based on very limited analysis and we are not professional analysts or advisors.
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View original content:https://www.prnewswire.co.uk/news-releases/a-major-gas-find-could-upend-european-energy-markets-302089007.html
Fintech PR
President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
Fintech PR
According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)
ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.
This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.
The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.
Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.
Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.
Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.
In response to these challenges, Britons are making significant adjustments:
- 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
- 52% have reduced household energy consumption;
- 48% have decreased their grocery spending;
- 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
- 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.
The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.
The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.
A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.
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Fintech PR2 days agoAccording to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004