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What does anyone know about this please?
Who will be moaning if the next rns propels us into 2p ?
You should be derisking on the way ,greed kills
These guys deserve their success,
They have made us money and will probably make us more ,good on em
Ians1: looks as though its on the cards, to me. Not very boring!
Total boll**ks...greed greed and more greed ....on this board we are all in it together to make money dosh and readies ..a lot of us know each other ...lots have valuable insight and technical info ...so on your way to some charitable set up !!!
or is a sale being lined up?
Sorry you’re bored Mitch .. perhaps you can enlighten us with something new and more interesting ? Or there’s always the filter option for the most boring ... or maybe not be on the board
Bit early to be on the sauce ;)
Yeah bang on radders - looks like he's here for the long haul :}
Tweeted by JW https://www.theguardian.com/business/2019/jan/13/salt-caverns-double-uk-gas-stores-cold-snaps-beast-from-the-east
Lining the ducks up before big news
Any potential equity partner may have insisted on guarantees around JW. Regardless .. great news he’s tied in
From the Storenergy website interesting to note that Stublach will have 20 caverns (currently 15 complete) able to store up to 400Mcm of gas at a cost of £500m, while post FEED Infa phases 1&2 at a cost of £265M will store 450Mcm (5th Dec presentation slide 13) in 8 caverns. If these figures are correct creating Islandmagee storage is broadly half the cost of that at Stublach.
Well that's a potential scenario I suppose Snowman
Spud,
If the price is right (and engie's pockets are bottomless) could it be that Infa will sell the project lock stock and barrel to Engie. Didn't Adrian Pocock in an interview early this year (26 April?) hint that there may well be a buyer for the whole project? He said something like...'by the end of the year we may have effectively pre-let it and who knows...we may have even pre-sold it'
Or either Infa (or Islandmagee Energy) will effectively become a subsidery of Engie, and the one that is left (INFA or Islandmagee Energy) can branch out into other projects?
Not my field of expertise....might be a load of nonsense....but just floating it out there for someone more knowledgeable to comment.
Hopefully we will keep it but whatever happens....we're all going to do very well I'm sure.
GLA
I don't think it's Engie
Reason being Storengy (subsidiary ) owns and operates stublach etc
Infa plans to operate Islandmagee itself
Just thinking out loud by the way
mcadder....'Well JW did say recently in the final results RNS -
"Interest has not been limited to the UK alone and we have term sheets from overseas institutional investors"
so it's perfectly possible here! '
also, he went on to say.....' Clearly, we need to choose an equity partner who shares a common vision of the Company becoming a leader in energy infrastructure over the next few years.'
Engie, above all others, share a common vision with us.........i.e. they are already, through storengy, in the process of becoming the No.1 salt cavern gas storage company in the UK (and it doesn't stop there, they are a massive global player!) and, like us....they have just upped their number of salt caverns. We too, have the vision of becoming a global player.
Engie fits like a glove !
Well JW did say recently in the final results RNS -
"Interest has not been limited to the UK alone and we have term sheets from overseas institutional investors"
so it's perfectly possible here!
Hope so aunty.....because Engie is a French giant, IMO if they get involved it isn't going to do any harm at all to
the EU Grant application !
This week/month is extremely exciting...SSSSSOOOOOO much news to come!!
Spud et al,
Intrinsic value is historically a determinant for seasonal storage value as it looks to the delta between Summer and Winter prices along the forward curve. However in the timeframe for a new development like Islandmagee which has a 2 year lead time the curve is increasingly illiquid (easily moved by a few trades). So it not really a reliable measure and also as most on this BB are well aware the energy market is changing rapidly; not least the decoupling of gas and oil price and increasing footprint of renewables in the generation mix.
However IMSL is a MRS/SRS (not LRS) project hence a greater component of value lies in the extrinsic component which as you say is primarily intra day / day ahead/ balance of week etc. This is highly unpredictable even if you’re a Black Scholes genious! But this will be a state of the art fast reacting, well located asset that will be streets ahead of other existing assets which are being hit with high business taxes and lower rents etc.
I am convinced this asset and the BOD have and are aligned to make the very most of current market conditions. The stars seem well aligned to me. Good luck to all
I quote “the U.K. Governement risked being complacent”. No surprise there!
A company like Engie or another major player with cavern storage experience getting involved here would be superb.
https://www.theguardian.com/business/2019/jan/13/salt-caverns-double-uk-gas-stores-cold-snaps-beast-from-the-east?CMP=share_btn_link
Could ENGIE get involved?
If you want to vote you require a letter of introduction from your broker with proof of holding.
You can attend as a visitor I believe, maybe email company to check?
Spent a fruitful hour carefully reading the Annual Report today. Does one have to register to attend the AGM?
Thank you everyone who has responded to my question. Difficult to value exactly with so many unknowns but nevertheless exciting and increasingly relevant piece of strategic energy storage. Especially without Rough, the Interconnector Pipeline and nuclear power stations!!!! GLAH.