The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Like It !! ...as usual ! All Best for 2019.
Dawski - hope you had a great Xmas. I remember you saying you had a small holding with Infa when it featured in the paper as a share tip. Just imagine how much of a holding you would have had if you had put all your money in back then! Probably only 100k shares lol.....this time things are different. By the time we get another big write up we will have secured funding and be starting construction but by then the horse will have well and truly bolted SP wise. So time running out for those to get in here before it happens. The story here will be big because not only is this a huge infrastructure project but it is in the UK and politically sensitive especially due to the recent govt inquiry on storage and Brexit.
https://www.theguardian.com/politics/2018/dec/30/food-prices-to-finance-what-a-no-deal-brexit-could-mean-for-britain
No-deal could increase the problems of electricity trading between the EU and UK.
Energy would almost certainly keep flowing across the undersea links between the UK, France and the Netherlands in the event of a no-deal Brexit. However, industry insiders have said no-deal would introduce more friction in electricity trading. The impact could be much more serious in the case of Northern Ireland as internal government documents suggest it could face blackouts while new cross-border arrangements are drawn up.
At Festal Evensong at Wells Cathedral on Christmas Eve the Cantor exclaimed in song:
Endue thy ministers with righteousness "
The choir dutifully replied :
"And make thy chosen people joyful"!
I don't think we need any Ministers to make us joyful --they seem such a useless lot in all respects ..I suppose we need just to still be nice to Junker and his lot in Brussels just to make sure that the Grant is not prejudiced !
About 10 years ago Infa then under a previous name of Portland Gas was tipped by the Sunday Times in December as one of it's Shares of the Year.
In 2018 no mention is made of Infa being so tipped again.No doubt the editor has missed a trick this time.So much much for our erstwhile expert pundits !!
Ok Snowman sod waiting for the funding I'll head down to the site first thing tomorrow and start drilling some holes lol ;))
McA....It's just that I can imagine you getting high on gas every night!.....LoL!
I'm sure you could manage the first two caverns at least....come on...don't let the side down.
More chance of the Irish government being a potential offtaker than my good old self Snowman lol
Quite right Mr T.
I was a little disappointed at first (impatient sod!) but of course it's got to add loads of leverage to negotiations!
On my list of tasty updates, I forgot news about the EU grant and further purchases of land parcels!
GLA !
Sometimes I amaze myself Spud lol ;))))
snow,
that is exactly how I read it first time around. To have a last minute hold up because a new bidder came late to the table speaks volumes and also confirms there is much interest in the project. As I said if the earlier bidders are still keen to be involved then it may force them to up their offer and we could be into a very good from shareholders viewpoint, bidding completion. When this news first landed the mm's tried to put their negative spin on it by dropping the sp, they failed to attract a sell off though due to the period of trading and the fact that I suspect anyone reading that RNS holding thought the same as I did, it was only positive news.
Since then the sp has gone back up and I expect 1p to be breached tomorrow with no problem.
Exciting times for all holders of INFA stock at the minute as it is for the management team, who lets face it have been superb over this last 12 months or so..
Bring on tomorrow and 2019, I strongly believe it will be a success story for INFA and hopefully very lucrative for all current long term holders.
MrT
Interesting thought Spud!........Possibility I suppose, if that's legal.
I reckon Mcadder might be another one !....LoL.
Whoever they may be they are sure to be big hitters of the highest echelon!!
Can't wait for the next crucial updates.....offtake, equity funding, debt funding, enabling works, build contract, FID
They are all going to send the SP into a long steady rerate !!!
I can't help wondering how soon institution(s) are going to pile in !!!!.....I certainly don't think after tomorrows trading anyone else is going to get in sub 1P !!!!!!!!!!
GLA!
Thinking out loud here
What's the chances of Irish government being one of potential off takers?
How did you find a draft copy of the ROI energy plan ffs :))))
Notice cooperation with UK will be a priority
Another brilliant post McA
The case is totally overwhelming.
On another tack I have been rereading the last RNS (equity funding)...it seems to get better and better each time you read it! We are in an unbelievably strong negotiating position, and are sure to get a cracking deal!
Roll on Jan!
Tomorrows short trading day (ends 12.30) could be interesting. Hopefully we will see more buys and so continue to rise steadily.
GLA !
http://www.merrionstreet.ie/!CJKYI1
Dimension energy security 19th Dec 2018 (Page 90)
Ireland has a small population base and consequent high cost per capita to fund infrastructure. Its
peripheral location at the end of the European electricity and gas grids, with relatively high
dependence on imported gas, low import route diversity for gas, potential increasing role of gas in
the energy mix for heat, transport and power generation, including as a back-up for intermittant
power generation, means that our energy security profile is different to most other Member States.
Following the exit of the UK from the EU, we will no longer be physically connected to the EU
Internal Energy Market.
In addition, existing policy is to cease using coal for electricity generation by 2025. This will remove
the ESB-owned 900MW coal-fired Moneypoint generating plant from the electricity generating
portfolio. While this action will have a positive impact on harmful emissions, it will reduce our
diversified fuel mix, and will impact on security of supply.
Furthermore, Bord na Móna will cease harvesting peat for electricity generation before 2030. There
are three peat-fired generating plants, totalling 350MW of electricity. Depending on several issues,
including fuel supply, compliance with EU and national objectives, and economic viability (carbon
price, fuel costs, sustainability, etc.) these plants may be converted to biomass over time, thus
maintaining fuel diversity and possibly an indigenous fuel source if sufficient biomass can be
produced locally.
Given this profile, our objectives are:
In the most cost effective way,
? to maintain and, where necessary, facilitate the enhancement of resilience of the
gas and electricity networks,
? to improve diversity of our gas and electricity supply and import routes, including
exploring the potential for LNG and gas storage, and
? to increase indigenous production of clean energy sources;
? to facilitate, as a preference, commercial investment through policy and regulatory
certainty;
? to ensure close cooperation on security of supply at EU and regional level, in
particular continued cooperation with the UK.
Continue to examine how emissions from the energy mix can be reduced, including
the potential role that Carbon Capture and Storage technology could have in
facilitating the high level of natural gas in the energy mix.
http://www.europaoil.com/documents/EuropaProspects2Go-Inishkea.pdf
Corrib & Inishkea
• The Corrib gas field provided 66% of Irish demand in
2017 but is now in decline, with a predicted 15 year
field life.
• Irish Gas demand is predicted to increase 14-44% by
2025 (Gas Networks Ireland) - plus post-Brexit energy
security is an issue.
http://www.icrag-centre.org/t4media/Ireland%27s%2520natural%2520gas.pdf
Ireland is committed to increasing renewable energy’s contribution to electricity generation as a key component in the transition to a lower carbon energy future. However, in order to maintain stability in the national electric grid and until such time as reliable, large-scale battery storage is developed, intermittent renewable sources such as wind or solar need to be paired with a predictable and reliable energy
source such as natural gas.
Ireland therefore needs to secure reliable and affordable sources of natural gas as a critical element in the country’s electricity generation for the coming decades.
The Importance of Natural Gas in Future Electricity Generation
Figure 1 shows the historical sources of natural gas in Ireland. In the early 1990s, the Kinsale Gas Field supplied
all our demand but, with the natural decline in production from the field, imports increased to meet 95% of demand in 2010.
The Corrib Gas Field was discovered in 1996 but did not come on stream until December 2015. As soon as the
field was in production, Irish gas imports dropped significantly. Today, the Corrib Gas Field could supply enough
natural gas to power all our natural gas electricity generating stations.
In 2017, Corrib gas supplies provided 67% of national gas demand but this is expected to fall to 50% in 2018.
The natural decline in production will continue over the next decade and by 2025 Corrib will only supply about
20% of Ireland’s demand. Imports would again provide about 75% of Irish gas demand, with the remaining 5%
coming from biogas.
Jimmy, this from the funding update rns on 27th December: " Initially, financing arrangements will be provided for enabling works...". Whoever they choose for funding, it seems there will be cash available to start work on site early in 2019. Placing, if appropriate, has been said to be at project level only, so shareholders are OK, imo. If it looks too good to be true, that 's because imo it is good and it's true.
https://www.laserenergy.org.uk/resource-centre/brexit
We have been considering the impact of Brexit’s “deal or no deal” come 29th March 2019 and have been working in partnership with our major suppliers to draw up details surrounding some of the main issues affecting the energy procurement in particular.
What impact will Brexit have on the commodity price of Gas and Electricity?
Since the Brexit decision went through, the value of the pound has fallen signigicantly and so we have seen an increase in the cost of imports for all commodities, not just gas and electricity.
Dependent on the outcome of discussions around the Internal Energy Market (IEM), there may be the imposition of additional tariffs for the cross border trades which will mean UK energy costs could rise.
Is there a risk of security of supply?
There are strong commercial incentives for the UK and EU member states to continue trading and whatever the outcome, there will be a desire to find a workable solution.
Europe and the UK are heavily connected by our energy infrastructure and this is key to our ability to fill demand. There should be no physical change to our energy network although future plans may be delayed until full details of Brexit are in place.
Security of supply may come more into question if tariffs on trades were seen as an unreasonable and alternative approaches to supply and demand are needed.
How much of the UK energy supply comes from EU (and Norway)?
Approximately 50% of our gas supply comes from the EU and Norway.
Approximately 5% of our electricty supply comes from the EU.
What is the Internal Energy Market (IEM)?
The Internal Energy Market has been build up since 1996 to help build a transparent, fair, competitive and regulated market across the EU.
By exiting the IEM, the UK would lose voting rights for the various organisations that set the rules on how trades occur.
If the UK leave the IEM - a new free trade agreement will be needed to maintain the current tariff-free trading on gas and electricity - this would include covering items such as carbon pricing.
So sorry. Just reported your post by accident. Big fingers. Admin this is not a report. Thank you
"The combined FEED studies have delivered P90 cost estimates of £114m for Phase 1 and £265m for Phase 2". A total cost of £379m. This will be mini Sirius minerals on FID confirmation. If INFA kept half, would they be worth £185m? Plus upside of the additional caverns?
Sorry Spud...I see you pipped me to it while I was looking for source!
I just found it.
RNS 21st Dec 2018
'The Front End Engineering and Design (FEED) element of the Project was completed in November 2018 and the FEED report was submitted to the European Union in December 2018 in accordance with the Company's grant conditions. To date approximately £13.5m has been invested in the project.'
GLA !
Some superb posters on this forum, again reminds me so much of the rely SXX days.
Keep it up folks and a Happy and prosperous New Year to you all.
Mr T