The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Spot on Eye. More cash available.
Looks like you were correct Eyeguy
Should be getting an rns tomorrow or Friday with warrant conversions if my calcs are correct
Here’s a link to a really interesting article on how serious Putin is taking Russia’s gas security of supply through flexibility using regassification at sea. It is dated 8th Jan 2019.
http://www.gazprom.com/press/news/2019/january/article472626/
‘In order to further enhance energy security in the Kaliningrad Region taking into account the geographical setting, Gazprom carried out an alternative gas supply project focused on LNG deliveries by sea. A gas receiving terminal based in the Baltic Sea and onshore was built in the Kaliningrad Region.’
https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/010919-dutch-court-to-hear-requests-to-cease-groningen-natural-gas-output-on-jan-17
NATURAL GAS 09 Jan 2019 | 16:57 UTC London
Dutch court to hear requests to cease Groningen natural gas output on Jan 17
London — The Dutch Council of State, the country's top administrative court, said Wednesday that on January 17 it will consider requests for production at the giant Dutch onshore gas field Groningen to be halted with immediate effect.
A production cap has been put in place to limit the impact of earthquakes linked to gas production at the field, with the quota for the current gas year (October 2018-September 2019) set at 19.4 Bcm.
The Dutch government has vowed to gradually cut Groningen production and to halt all production by 2030.
But a number of plaintiffs have called on the court to accelerate the end of Groningen production.
I don't think the late bidder would be NIE simply because its been two years since the N.I. Assembly last functioned. It will be interesting to know who it was. I'm just hoping I can carry on holding these shares as a house sale has just fallen through.
Shell, one of the big 6, Vitol or possibly INEOS.
Any inkling who it might be spud?
No
Islandmagee - Project Funding Update
Thu, 27th Dec 2018 07:00
RNS Number : 4899L
Infrastrata PLC
27 December 2018
'With respect to the eventual Project equity funding, the Company has been working through several term sheets, having due diligence completed upon its Islandmagee project Phase 1 (2 caverns) and Phase 2 (6 additional caverns) and discussing potential long-term working relationships with such potential Project equity partners. The Company has been diligently undertaking this work in order to ensure it selects the right Project financing partner and enters into an agreement that will provide long-term value for shareholders on the initial Project and beyond. The Company remains on track to undertake the FID by the end Q2 of 2019.
A further Project equity funding offer was presented to the Company during the week commencing 17 December 2018. In order to fully assess and evaluate this offer the Board has decided to delay entering into any formal arrangements in Q4 2018, with a view to concluding its review and negotiations early in 2019.'
J Morrison
BEIS MINISTERIAL CORRESPONDENCE UNIT
'Whilst the Islandmagee gas storage project is clearly of interest to this Department, given the potential security of supply benefits that it could bring to the UK as a whole, energy is a devolved matter in Northern Ireland. The Department is aware of discussions between Infrastrata and the Northern Ireland Executive, although I am not in a position to provide any update on the progress of these discussions.'
Does anyone think it's possible that the NIE themselves were the mysterious late bidder that seems to have put a better offer to INFA? Morrison (BEIS) says they are devolved..... so they would be free to make their own independent decisions?
Surely, has to be !
JW opting to take remuneration as shares.
Lurker - no one is saying the EU is having to step in! That paragraph was an assumption of what the EU is probably thinking out loud towards our own govt but presumably you read my post and already know that! I'm sure you are also aware of the ongoing application for the £40M EU grant which as well as stakeholder funding could be the icing on the cake if we receive all or even part of it.
Lurker5,
Are you so naive to think that a potential equity funder of IM would not look an EU gift horse in the mouth?
No, I didn't think so.
Living up to your name again, I see. Interesting times ahead for the retired financial journo vs the switched-on and worldly-wise JW.
https://theenergyst.com/economy-energy-latest-supplier-fail/
Economy Energy latest supplier to fail
JANUARY 8, 2019 BY BRENDAN COYNE
Economy Energy has ceased trading.
The supplier, which had around 240,000 domestic accounts, is the latest casualty of the independent energy supply market and its closure was widely anticipated.
Ofgem will now appoint another supplier to take on its customers and ask other energy companies to pick up the tab for its levy liabilities.
Energy market experts have predicted that more companies will collapse do to risk mismanagement and inadequate finance.
Some have suggested the domestic market “could implode” due to spiralling levels of debt, with even a large, ‘big six’ supplier at risk of going bust.
Not aware that the EU is 'having' to step in ! If all the equity providers are lined up, (and there seem t be plenty of applicants) there won't be a need for a grant.
If the AGM and a presentation on the project is due on the 31st, funding news should be due in the next 17 trading days. I'm sure there are plenty of people on the fence about INFA. Securing funding is the piece of news that will rerate this stock. AIM has loads of companies that never achieved funding, or it remains "right round the corner". INFA need to avoid getting put in this category.
Nice to see this evening - yet more confidence by JW to accept a proportion of his remuneration in shares. Smart move especially when we all know in the very near future where the SP is heading!
Interesting....on one hand they claim we have more than adequate sources of supply and that we have a high level of supply security yet....they acknowledge their interest in this project with the potential security of supply it would bring to the UK!! At least they confirm they are aware of discussions between Infrastrata and the Northern Ireland executive! The response that "I am not in a position to provide any update on the progress of the discussions" is one way of saying "we know exactly what is going on here but we ain't telling you" lol.
I think Westminster are more interested in this project than they are letting on especially given how political the issue of gas storage has become after last winter and Brexit. I would also imagine the EU would be pretty supportive of the EU grant application because it would send a message to our govt from the EU that, "well you've made a hash of the whole Brexit situation and now we've had to step in to help with an infrastructure project that will greatly benefit the energy needs of not just Northern Ireland and the UK but our remaining member state the Republic of Ireland which needs our support!" Therefore here is the grant! That would certainly be rather embarrassing for our govt!
The UK Govt will be acutely aware as well that Islandmagee is the only gas storage project that is construction ready aided by their very own UK govt guarantee scheme which they qualified Infa for.
Yet more skin in the game for John ! Great stuff !
RNS Number : 5553M
Infrastrata PLC
08 January 2019
8 January 2019
InfraStrata plc
("InfraStrata" or the "Company")
Issuance of contractual fee shares and change to total voting rights
InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, announces the issuance of 4,202,420 ordinary shares in the Company of 0.01p ("New Ordinary Shares") to John Wood at an average price of 0.67 pence per New Ordinary Share.
These New Ordinary Shares are issued in accordance with John's service contract with the Company whereby he agreed to accept a proportion of his remuneration as ordinary shares as part of his commitment to supporting the growth of InfraStrata. Under the terms of his contract, the shares become due at the end of every month and will be allotted by the Board on an ad-hoc basis and this share issuance is in respect of the last seven months. The issue price is calculated using the volume weighted average closing mid-market price per share over the last five days of each calendar month in which the shares become due.
Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 14 January 2019.
Upon Admission, John will have a beneficial interest in 46,246,541 ordinary shares in the Company, equivalent to 4.17% of the Company's then issued share capital.
Total Voting Rights
Upon Admission, the Company's issued share capital will consist of 1,108,113,455 Ordinary Shares with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 1,108,113,455. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Response to a letter I sent to my MP some weeks ago complaining about the Govt stance on Gas Storage. In my view their overall view is wrong and the tone is suggesting it is beneath the mainstream Govt here but at least they sort of begrudgingly acknowledge an 'interest' in Islandmagee and its potential for security of supply(but seemingly dont want to get their own hands dirty...or have to part with any money out of their own coffers is more to the point!) and say it is a devolved issue with the NI Executive (at least that part is good I guess.....we're certainly well on the map with the Northern Ireland Executive!). It's almost as if BEIS recognise Islandmagee as a special case (which we know already because it is a very special case indeed!), but are trying to distance themselves from NI. I thought they would all want to be working more together.
'Thank you for your email of 9 December 2018, addressed to Chris Skidmore MP, about gas storage. The Minister receives a large amount of correspondence every day and is unable to respond to each one personally. I have been asked to reply.
Thank you for your sharing your views on gas storage. The UK consistently has one of the largest and most liquid gas markets in Europe with extensive import infrastructure and a diverse range of gas supply sources. This includes domestic production, gas storage, pipelines from Norway, Belgium and the Netherlands, and liquefied natural gas terminals which can bring in gas from anywhere in the world.
Over the past 10 years, analysis undertaken by the Department and others has delivered a consistent message: the UK is well placed to manage gas supply risks. Government backing for infrastructure projects is therefore not necessary in the UK to maintain our high level of supply security and the cost of any such intervention would fall to consumers, pushing up prices and eroding the commercial competitive advantage resulting from the UK’s relatively low retail gas prices.
Whilst the Islandmagee gas storage project is clearly of interest to this Department, given the potential security of supply benefits that it could bring to the UK as a whole, energy is a devolved matter in Northern Ireland. The Department is aware of discussions between Infrastrata and the Northern Ireland Executive, although I am not in a position to provide any update on the progress of these discussions.
I thank you again for your interest in this area and assure you we recognise the importance of gas security of supply to the UK’s economy.
Yours sincerely,
J Morrison
BEIS MINISTERIAL CORRESPONDENCE UNIT'
that should read 'SAFE hands'....lol
currently being hammered out.....would love to be a fly on the wall at INFA and observe the negotiations first hand !
One thing we can all be sure of.....the whole ballgame is in hands....can't wait for news stream to start flowing....will be awesome !!!
Seems to me we have a 90% chance of securing either all or a good chunk of the EU grant especially given that a very damning CBA for the project was submitted with the application part of which said this .........
"the results demonstrated the clear need for the Project. The report highlighted the fact that just a single day's power outage will cost the UK economy in excess of £1.1 billion at its peak, with an average daily cost of £700 million.
The CBA demonstrates a strong investment to benefit ratio and clearly underpins the Directors' belief that this Project could be a key piece of strategic infrastructure for the UK."
Good times ahead :)))
Yeah 2 year come April for the .48p I believe The .6 ones are finished very soon