Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Mcadder....swift and brilliant.....nice one!
Now that's what i'm talking about!.....If prospective buyers see this, then I'm sure they will wet their knickers!
Only thing I would say is I'm pretty sure I've seen somewhere recently that about 13M has now been spent to date.
Also can't argue with Spuds summary !!
Good one mcadder Slight correction Over £13.5 million invested so far ( from the more recent rns) 4 equity term sheets on JW's desk is testament to the attractiveness of islandmagee energy as a long term, secure investment!
Hi Setanta many thanks for your earlier reply :)
Snowman my earlier post wasn't intended to be an overall summary but if it's bullet points you want for new or would be buyers then here goes:-
(The environment)
• R.O.I & N.I undergoing major gas expansion programme
• Gas to replace Coal, Peat & oil for heating= increased demand
• R.O.I & N.I let down due to isolation/lack of infrastructure
• No gas storage in Ireland means lack of security of supply
• Ireland to miss it's climate change targets by huge margin
• Gas spot price volatility to increase = higher consumer costs
(The project)
• Will benefit 2 member states therefore has PCI status
• PCI status includes storage facility and reverse flow of SNIP
• Strategic asset of national importance
• Qualifies or EU funding (FEED & earlier phases included)
• Ongoing application for another £40M grant (decision Feb 19)
• benefits from UK govt guarantee scheme
• Pioneering fast response facility will be first of it's kind in UK
• Potential reduced Capex costs of £265M from previous 320M
• Economics to be based on daily not yearly price fluctuations
• Advanced talks with 3 blue chip funders(4th now on the table)
• Recent letter of intent from offtaker with 6 interested parties)
• Huge interest with traders will help reduce volatility/prices
• Project has sense of urgency due to closure of Rough
• Application for additional licence for 15 more caverns
• Potential twinning of SNIP (allowing for Rough style facility)
• £11.5M + already invested in the project to date
• Seismic studies show Islandmagee only suitable location
• Potential different uses for caverns (decarbonisation of grid)
• Potential 40+yr life of project with 21.6% forecast IRR
• Fantastic bod comprising JW, GL, AD, JT and AR
• Plus bod who are aligned with shareholders with a decent %
• Full planning consents along with local support (RARE!!)
• Storage licence & environmental impact assessment in place
• FEED fully completed with all recent milestones achieved
• Recent land purchases undertaken
• Numerous LTH'S here unwilling to part with their shares
So as Spud says in summary BUY BUY BUY!!!
Buy INFA, its BRILL ;)))
I'm used to spuds very high calibre posts here but I rated mcadders latest as I described it.I made it plain that I saw it as A SUMMARY of a lot of valuable detail related to INFA. And that is what it was. I've been here a fairly long time and I am certainly well researched but if I were a new investor, or one thinking about making an entry,mcadders work would have put me on track to further my own research. That's all. Go well.
Setanta and everyone,
Please don't take this as a critisism. I am definately a Mcadder fan.
However, 'Perfect summry mcadder. There really isn't anything else one needs to add for the enlightenment of recent or prospective holders in INFA.'
Although the 16:14 post was a great post I would not describe it as it is described as a summary of all prospective holders need to know.
However, Mcadder himself, and Spud and loads of others on this site over the last 9 months or so (not to mention rapid dave) have delivered such comprehensive summaries that I definitely would have described as stand alone comprehensive summaries. Beyond my skill set but perhaps someone would like to take up that challenge to bring an updated comprehensive summary on board.
It would be worth it's weight in gold....the shorter the better....just bullet points....we could post it everywhere!....I'm thinking a sort of updated version of rapid daves summary early in the year....it was superb!!
Easy for me to say.........and a lot of hard work for whoever attemps to put it togaether....my dream team to work in collaboration on that would definitely incluse Mcadder, Spud, O & W and other stalwart posters on this site.
But my God....it would be good for potential investors !
GLA
Perfect summry mcadder. There really is'rt anything else one needs to add for the enlightenment of recent or prospective holders in INFA.
Definitely right to be sceptical when it comes to AIM Jimmy! Most advanced this project has ever been! The fact the NOMAD allowed the release of the last rns without a precautionary statement speaks volumes to me and I am very confident this team will deliver! We have several offers of finance, we are drawing up a shortlist of off takers. This facility is needed and more importantly for us wanted. GLA
Actually Jimmy it's 12yrs since the project first hit the drawing board - in the days when it was part of Egdon resources before being demerged to become Portland Gas and now Infrastrata Plc. Considering JW has only been CEO for 4 months here I'd say he has under promised and over delivered during his short reign. Lot's of failures by previous bod's with wasted time and money but Infa is a totally different beast now with the quality and economics of the project now proven up. Let's not forget they didn't even obtain a storage licence and planning consents until 2012. Some of the valuable seismic data obtained between 2005-2007 and the drill in 2015 to obtain core samples are now worth their weight in gold and probably helped to determine the possibility of a further 15 caverns being developed on top of the 8. Infa is sitting on a top quality asset with a bright future now thanks to a top quality professional bod.
I've got 1.6m shares so I believe the project will go ahead. But so does every investor in every aim share. All I'm saying is he has to deliver. So far this company has been on the go over 10 years doing this.
Jimmy00, don't forget that CEO has several 100s of thousands of his own £s in here. Should help to dispel some of that scepticism imo. And he's very good at keeping us informed. All round good track record, fingers crossed.
It's on the AIM market. That bring scepticism from me until proven otherwise!
'Ha ha steady. If the CEO can actually get it built and the valuation above £50m for INFA then we can put praise to him. He's got over some hurdles but the main project needs delivered.'
Jimmy....the guy has a track record of delivering bigger projects than this one!
Sincerely hope we are not going to see JW smoking a spliff in his next interview !!
Ha ha steady. If the CEO can actually get it built and the valuation above £50m for INFA then we can put praise to him. He's got over some hurdles but the main project needs delivered.
Agree, shouldn’t take too long considering how far in the process we are. I believe this equity deal should be only for the first 8 caverns meaning that the potential additional 15 should come in top so as far as company valuation goes, I am not so sure we will know. Value is based on perception for the future not one equity deal based on the present. A good BoD, strong vision, project pipeline add more value for us shareholders. Would Tesla be worth more or less without Elon Musk? Amazon wothout Bezos?
Do we finally have a SP lift off as people start to realise the actual underlying message of the recent RNS final time to Buy under 1p?
Surely it won't take long to assess the new deal? Hopefully news in the next 4 weeks. This piece of news is key for me, as it will outline how much the project is worth and essentially what the companies asset is worth. Which should help rerate the stock.
http://www.ukerc.ac.uk/publications/a-new-approach-to-assessing-uk-gas-security.html
Another interesting report by Mike Bradshaw
https://smartestenergy.com/info-hub/the-informer/roadmap-for-gas-security-after-brexit-urged/
Think this is the actual link to the article you referenced
Good link mcadder!
Key recommendation 3 was particularly interesting, considering slide 9 in the presentation!
"Urgent large-scale trials of heat decarbonisation using hydrogen are required to understand whether it could be technically, economically and socially viable."
http://www.ukerc.ac.uk/asset/E8CBC653-4BD2-4BA1-99DB926D129BFF38
A roadmap for UK gas security Dec 2018
Michael Bradshaw and Grant Wilson
3 Bradshaw, M J (2018) Future UK Gas Security: A Position Paper.
A Review of Gas Security of Supply within Great Britain’s gas market – from the present to 2035.
(Dec 2018). Heat decarbonisation challenges: local gas vs electricity supply.
6 BEIS Select Committee (2018) Gas Storage Inquiry.
(Dec 2018) A New Approach to Assessing UK Gas Security.
The UK still lacks a clear roadmap for the future role of natural gas in the energy transition. Events in March 2018
demonstrate this remains essential to providing the capacity, flexibility and resilience necessary to ensure future
UK gas security. However, debate continues around the future role of gas infrastructure, fuelled by uncertainty
regarding the role of low carbon gas in the decarbonisation of heat (see p6).
Globalising UK gas security
Government asserts that the UK benefits from diverse gas
supplies, but voices concerns about growing import
dependence. Presently, the UK imports about half its gas
– the bulk coming by pipeline from Norway and the
majority of the balance as Liquefied Natural Gas (LNG)
from Qatar. Depending on demand, by the 2030s import
dependency could be 70% or more. For this reason,
the government supports the development of shale gas; but,
this is unlikely to achieve the scale and pace to contribute
to energy security in the early 2020s. Brexit further
complicates matters as the UK will likely find itself outside
the EU’s internal energy market, left to fend for itself in
increasingly competitive global and European gas markets.
The cold weather in late February-early March 2018, the
so-called ‘Beast from the East’, tested the resilience of the
UK’s market structures to provide additional gas when
required. The graph below shows the
amount of gas in storage and LNG terminals since 2013,
making clear the impact of the closure of the Rough
seasonal storage facility. At the time of the cold snap,
gas stores were roughly 57% full, by the end of the week
they were 27% full, with major increases in demand
coming from the local gas networks.
.
Government’s view is that the market should determine if
more storage is necessary and that state intervention could
distort the market with unforeseen consequences.
.
This may be true, but it underestimates the risk that a
serious supply shock would soon become a significant
political issue. During the week of the Beast from the East
natural gas provided approximately 80% of the energy
required to power and heathe UK. With the closure of the
Rough storage site in 2018, the UK has effectively offshored
its seasonal storage further up its supply chains using
pipeline imports or LNG deliveries.
In assessing future UK gas security, the current reliance on
the N-1 assessment is far from adequate.
The gardener's finished his dinner and he's coming down the garden path.....quick...put all your toys back in the pram and get back into your flowerpots!
Or alternatively................does it really matter in the grand scheme of things?.......kiss and make up!
Just in case you didn't know where to look for INFA NEX trades Setanta
https://www.nexexchange.com/company-all-latest-trades?isin=GB00B28YMP66&listingtypeid=PLSU