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It's a refreshing change from the nimbys posting rubbish and hats off to him / her. I think an incorrect train of thought with many is to not counter them. Almost as if they will get bored. Fact is infafacts is needed to quell the lies and fear mongering being spread by the nimbys
There has been a considerable amount of misinformation put out on Twitter about infa over the proceeding couple of months. Much of it has been grossly ill-informed, a large proportion blatantly untrue. The motivation for it varied. InfaFacts has started counter-attacking each post at source, and is already having considerable success. It is a joy to watch! Good luck all, I believe the next few months will be company making.
and increasing pipeline delivery
https://www.agendani.com/natural-gas-and-the-environment/
any knowledge of future infa projects in the pipeline?
Where r u all ?!!
Like it ....can't wait !
Dawski, I could do one, some might wish I would, but I can't do both.
My problem with going all in, eggs/basket, it narrows your focus.
If I didn't think we will get there i'ld be offski, Dawski. :)
Now it's time for a brewski. :)
Looking forward to catching up with everyone at these events, great opportunity to answer questions regarding the commercialisation of our Islandmagee gas storage project, recent announcements and our vision for the business as we move forward. #INFA
I don't want a break from Infa --I want posts every hour --as long as they are positive and informative !!
Hi dawski37 - My thinking is that the stock market will be closed Friday through to Monday so it gives us a break from INFA as there will be no further updates.Regards.
Can anyone enlighten on the latest tweet from John Wood please, as I don't have access to it?
Thanks
Chris ..how could we possibly have "an Infa free weekend " ?!!
Oops wrong board. I wanted to say fellow investors not to worry about the Marine Licence as long as INFA employs means to work within the law and drive down environmental impact. The recent RNS shows that they do and they will also be guided by the government’s ‘env’ civil service. I’ve worked with Government ‘env’ departments and they tend not to be punitive but helpful guiding you what you need to do to get a licence. I used to go into one Gov environment department and discuss modelling results and means to reduce impact. They would provide helpful feedback. So you have to work against their advice to not get a licence which few companies do since the licence is a licence to operate. Activists are unhelpful and extremist at times though some have genuine concerns which are best addressed early in community town halls.
Oil price up, politically quiet summer and big news coming for I3e
Hi All - The Stock Exchange is closed for Good Friday & Easter Monday so the earliest we can have a further update is next week on Tuesday & so we now just wait.I am optimistic that we will know in the next week or two prior to the May meeting.I hope you all have an INFA free weekend over the Easter Period. Regards to all.
Today’s RNS only refers to EU funding pertaining to FEED, my posting was in regard to the additional EU funding which was referred to in the 7th March update. This application was originally turned down by the EU but it was suggested that s modified application, if resubmitted, would stand a better chance of success. I would have considered this a significant enough item to feature in the half yearly update.
In today’s RNS
The Company is currently in the process of submitting its final set of documentation to the EU Commission towards recovery of the balance grant monies, per the Grant Agreement financed under the Connected Europe Facility (CEF). As part of this process, the Company has now appointed two separate entities to conduct an independent financial and technical audit respectively, a condition that has been stipulated by the Department of Economy, Northern Ireland. Following completion of these audits, the Company will submit its final documentation pack. The completion of the two audits and final documents is expected to take place by the end of May / first week of June with the balance grant monies paid to the Company 6-8 weeks immediately thereafter.
JFK update provided in the RNS dated 7th March.
I thought that in March they were also to resubmit for EU grant funding towards implementation, there was no mention of that in today’s RNS. Is that now off the agenda?
It was nice to see our Ex-chairman shoot a congratulatory tweet first thing.
No sour grapes there then.
Nice one Graham.
Snow I personally believe you are putting two and two together to make five. In regards your points on the number of caverns, this will have a beneficial effect since it will reduce the amount of brine discharged at sea. The changes will be in relation to the distancing of the pipeline from shore, it’s metrics, depths and dispersion rate not anything to do with what is happening onshore. As for the additional 15 caverns (23 total) this is a later phase and will have no effect on the initial proposal for which funding is being secured. A separate study may be required for that anyway but let’s not run before we can walk. As for the points on the enablement works following the placing at 1.2p. The stages documented in the RNS of 24th January are already underway. The recent contract award to Costain to enable the £65m Saving as recognised in FEED was announced on 19th March. The RNS in relation to the pipeline easements was also announced on 25th March. So work is well underway.
Hope you're right Mr T.....go well.
Snow,
I accept your points and concerns all of which are valid.
However I cannot for one second believe that a Chairman was solely resposible for the Marine License!! If he was he should not have been!! and in any case most of the directors in place were and sghould have been aware of the situation. Why didn't they all resign?
I'm with Tidd here, this is a side issue, the draft license was issued in a orderly fashion to assist with the FEED procedures and therefore there is no reason to believe the full license will not be granted following consultations etc, which is normal in these projects.
If there were any hold up's or earlier indications given by the company to the market were not actually on track then they would have to incorporate those into updates,ie today's, however, everything appears to be on track for the end of June 2019 for the FID.
I think the license issue is a red herring, the draft license was issued, the Company met all conditions of the license, in fact better results were forthcoming than previously anticipated!.
I can't see any reasons that certain agreement cannot be signed in principal regardl;ess of the license issue, the company have more than addressed this issue during FEED, therefore there will be no apparent reasons for full license being granted.
All in my opinion.
Mr T
I think the importance of the Marine licence is paramount.
Although Mr T you are correct it does state in latest RNS....'Further, DAERA has provided the Company with clear guidance that any changes to its initial submission would result in a delay to the proposed construction timeframe, but the Company is pleased to report that it has reconfirmed to DAERA that nothing material has changed from its initial application and that it is progressing as planned.'
However, there WERE changes between the submission of the licence and the 'Hiccup' with the licence (I mean since it came to light for SH in January that the licence was not in fact a done deal). The cavern numbers were stated as 8 (now dropped back to 7 as in the original application in 2011....which is still open). This 'coincides' with chairman going with immediate effect. IMO nobody of that level leaves with 'immediate effect' without good reason....and 'concentrating on other projects' is not reason enough to leave without courteous notice without another chairman to immediately take over and even then there would be a decent handover period.
There was also talk of 23 caverns which we have not heard a murmer of since the 'hiccup' with the licence. This will cause another furore regarding discharge when/if it finally goes ahead.......may at that stage need much longer discharge pipe far out to sea?
Also, another point that disquiets me is not a word of work on site, yet wasn't it indicated that much site preparation work was going to go ahead from January?....why no update on that?
Even I wouldn't sign an agreement committing a large amount of funding before a guarantee that a licence was actually there and in force. I can't imagine in my wildest dreams that a company (let alone a blue chip) would commit unless licence was actually in force. I can't see these agreements being signed, nor by extension, a final investment decision being made by end of June IF the licence is not actually in place by then .......all my opinion only.
I for one, will give a huge sigh of relief on the licence being issued...many a slip twixt cup and lip!...there is a right of objection and that must be taken into consideration....although I believe the licence will eventually be granted there may be an extended period of argument by objectors that may have to be batted to and fro and legal processes are sometimes lengthy.
I'm not trying to put a damper on things....I am heavily invested...and hopefully in for the long term...it's just these are my genuine concerns.
However, having said all that, I think we will eventually prevail but it might just not be as simple and straightforward as we are led to believe.....I sincerely hope I'm way off the mark.
Afternoon MrT. Valid points made and just to emphasise one piece of the extract; “The Company was notified of certain actions that would be required to be undertaken prior to conversion of the draft license to a full licence. Therefore, as a result of the work undertaken during FEED, the Company has now submitted to DAERA, an updated Brine Dispersion Model, Shadow Habitats Regulation Assessment and a detailed Diffuser Arrangement.” The Marine license was unlikely to be an oversight. FEED was a pre-req to advance findings for submission to DAERA, the draft license enabled those findings to be undertaken. All this noise about the Marine license is merely from the eco groups. Given the findings are better than expected and well within the regulatory guidelines it should be a none issue. Today’s update was excellent.
Snow,
Your post tends to indicate that the full Marine licese issue was perhaps overlooked? and that is why the Chairman left?
On reading today's detailed update it states:
The Company is focussed on converting its draft marine license into a full marine licence. This draft license was issued after numerous communications, consultations and detailed discussions at a marine stakeholder group meeting hosted by Northern Ireland's Department of Agriculture, Environment and Rural Affairs' (DAERA) equivalent at that time. The Company was notified of certain actions that would be required to be undertaken prior to conversion of the draft license to a full licence. Therefore, as a result of the work undertaken during FEED, the Company has now submitted to DAERA, an updated Brine Dispersion Model, Shadow Habitats Regulation Assessment and a detailed Diffuser Arrangement. This work is being carried out with independent verification of the brine dispersal model by a third party and will be submitted shortly. The Company has also provided a draft marine monitoring plan, which includes live monitoring of brine discharge and will facilitate its shut-down should license discharge rates be exceeded.
The environmental experts commissioned by the company to undertake this work believe all the studies show better results than previously indicated and are within the current regulatory guidelines. Hence the Company believes that the draft marine licence will be converted into a full marine licence at the appropriate time. We are not aware of any reason, at this point in time, that will preclude a marine license being granted, in a timely fashion, for these works.
Further, DAERA has provided the Company with clear guidance that any changes to its initial submission would result in a delay to the proposed construction timeframe, but the Company is pleased to report that it has reconfirmed to DAERA that nothing material has changed from its initial application and that it is progressing as planned.
The important line reads, Hence the Company believes that the draft marine licence will be converted into a full marine licence at the appropriate time. Therefore it reads as all is it should be and on track! which suggests there has been no oversights! Im not saying that you are wrong here just putting my point of view forward.
As Iv'e said previously, these projects take time and numerous consultations will take place, it's part of the project.
Having said that I'm slightly disappointed that the sp is where it is, I would expect it to be rising shortly on anticipation of some positive updates.
Mr T