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Sent this to my MP just now. Chris Skidmore who just happens to be Minister of State for BEIS.
Dear Chris,
After the hard lessons learnt from the Beast From The East last winter, and forecasts of another harsh winter this year, I was shocked and dismayed and feel quite let down by the attitude of the BEIS towards UK gas storage.
The BEIS failed to listen to the views forwarded by leading industry professionals which mirrors the views of the common people and is also pure common sense.
There is a perfectly poised project at a very advanced stage at Islandmag, for 8 (which may expand to 23) salt caverns below Lough Larne, County Antrim that can offer extremely flexible rapid gas injection/withdrawal speeds that can ensure continued uninterrupted gas supply in times of uncertainty.
There are other gas storage projects also feasible but none nearly at so advanced a stage as Islandmagee which has enormous capacity. This is a project that the UK Government should be extremely proud of. It involves world class companies and a world class BoD who have delivered all 16 milestones of the Front End Engineering Design (FEED) of the project, within time and below budget.....extremely impressive. The company, Infrastrata, deserves full Government support and backing as it can virtually singlehandedly solve the UK continuity of gas supply issue in all scenarios.
The powerful GMB have now exercised their view on the matter http://www.gmb.org.uk/newsroom/winter-heating-crisis as have many serious organisations and indeed prominant UK politicians such as for example Lord Lawson.
I urge you and the BEIS to reconsider your views in the face of mounting evidence and critisism from a fast increasing number of sources.
Kind regards.
(Lord) Nigel Lawson has just given BEIS a well-publicized bolloc-king. We live in hope!
Nice one Tony. It is inevitable that eventually common sense will prevail and the extremely short sighted and incompetent BEIS will be forced to accept the vital need for gas storage in UK.
https://www.thegwpf.com/renewables-and-climate-policy-are-on-a-collision-course/
GMB also joining ranks vs BEIS.
http://www.gmb.org.uk/newsroom/winter-heating-crisis
https://blogs.spectator.co.uk/2018/12/if-britain-cant-keep-the-lights-on-this-winter-will-the-eu-be-to-blame/amp
Some key points -
Britain’s ability to keep the lights on has just been thrown into doubt by the European Court of Justice. It has ruled that the backbone of the UK’s capacity market energy scheme, which pays power stations to generate electricity, is illegal state aid and must be suspended. To call this a body blow for energy security is a gross understatement; as you read these words Whitehall is desperately trying to reassure generators and very nervous investors.
A short term fix to try and secure enough power for this winter is planned but this is likely to mean much more imported power through undersea interconnector cables from the continent.
Remaining tied to EU policy, as set out in the Prime Minister’s deal entails a series of important concessions and cross-Channel energy supply commitments which will primarily benefit the European market and its generators. These include proposals from the Commission for the mandatory sharing of gas supplies which could lead to gas rationing in the UK following a severe weather front in Europe alongside a gas supply crisis there. This drive for more interconnection on gas and electricity is a leading pillar in the EU’s new ‘Energy Union’ proposals. UK plans to double imports of EU electricity come at a time when spare supplies on the continent are falling.
...still not available on the company's website!!!!
An interesting independent cross-party group
https://www.policyconnect.org.uk/cc/
p. 18, 19, 20 indicates their support for salt cavern storage
https://www.policyconnect.org.uk/cc/sites/site_cc/files/report/676/fieldreportdownload/nextstepsforthegasgridweb.pdf
Hi loosegoose,
Good to meet you on Wednesday and great to have someone of your background/experience seeing the potential here, validation of a plumbers research!!
I was thinking you could buy some more without telling your wife ;))))........
I would imagine a million shares split into 3 phases ?
Codes are *******s However a lot of warrant conversions have ended in 333 or 666
apart from todays RNS :))
But yes... fully agree. The idea that there are codes in itself means there can be no codes.
codes dont exist m8,only in peeps imaginations and rampers,with their one codes
there were about five 1 codes yesterday.....but not one rns today?
Is the figure of 333,333 relevant as some sort of code or just coincidental?
Paid last nights bar bill :)
Pity there wasn't more time for tick ups to continue! Roll on next week!
GLA
Nice action later this afternoon. Am waiting for the normal pattern of a few low balled sells to come through. On the other hand a change in pattern would make the first glass of wine taste oh so much better. BTW, nice to meet many of you earlier this week and greetings from Switzerland!
Probably just to pay for the Xmas party .. circa £25k
£2k ?
RNS Number : 8770J
Infrastrata PLC
07 December 2018
7 December 2018
InfraStrata plc
("InfraStrata" or the "Company")
Exercise of warrants and change to total voting rights
InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, announces that it has received notice of the exercise of warrants to subscribe for a total of 333,333 new ordinary shares in the Company (the "New Ordinary Shares"). The New Ordinary Shares are being issued at a price of 0.60 pence per share and relate to warrants issued as part of the Company's fundraising announced on 25 January 2018.
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 13 December 2018.
Upon Admission, the Company's issued share capital will consist of 1,079,395,275 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 1,079,395,275. 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.
Agreed, O&W, SXX was exciting on Aim, very slow and boring (and worrying imo) on the main market now. Infa is in a much better position for shareholders' success. Also imo!
Thanks to all for updates from last night.
New in here but glad to see a bit of movement.
Penny dropping
Be careful what you wish for, Snowman.
I was in Sxx on AIM as an infrastructure play in the UK, and the lure of a main board listing. The sp rally proved short-lived, reaching 50p and now struggling under 20p, despite now carrying a MC of £1bn. Reason: massive equity placing to satisfy the debt providers and fund construction of a £2bn polyhalite mine.
Hint: the real money in Sxx, as with most of these larger plays, was on Aim, from 2p to 30p, BEFORE the main board listing. Very tasty, I must say. And I was there to remember it!
For Infa, that would be like going from 0.4p to 6p. Now that is very doable, IMHO, with equity funding.
Head clearing now (courtesy of British Rail or whatever it is now....long trip home would have seemed churlish not to indulge!)
I remember John saying to me that he was planning to take INFA into a regulated market as soon as he could (maybe more difficult for whoever controlling the market to continue their shenannigins?) I think that would make it a lot more attractive to institutions/pensions funds wouldn't it?......although how would it affect share ISA's tax wise?
Actually I think it would be a mega move...............might even become Blue Chip ourselves one day!!
GLA
Radders99. Exeat: Procedure adopted by wife to try to restrain exuberant INFA husband as in - "if you want picking up at the station, be on the 10 o'clock".
Very good video by JW to round off an impressive meeting