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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https://www.londonstockexchange.com/news-article/PRD/mag-mell-project-ireland/15031816
Paul Griffiths, CEO of Predator Oil & Gas Holdings Plc commented:
"The Mag Mell project has been designed to meet Ireland's immediate requirement for security and market flexibility of energy supply during a period of high demand, particularly fuelled by new investment in data centres. The design concepts have focussed on minimising the environmental footprint relative to other energy infrastructure projects and reducing C02 emissions. LNG will be sourced from a transparent origin where reliance on fracked gas feedstock will not be permitted. Mag Mell represents a unique near-term solution to contribute to Ireland's security of energy supply and can be commissioned and operational before other alternative solutions that have been put forward ."
Very good stuff!
Yes quite impressed esp with the emphasis on this being the best option for the countries transition.
Quite the selling point and very good RNS to underpin the sp for the drill in Morocco.
So now we knoe who are partners are in LNG Ireland (and so presumably also potentially for our LNG Morocco project):
https://hoeghlng.com/
http://www.jumbomaritime.nl/
It's Paul's last sentance that sums things up perfectly, IMO:
"Mag Mell represents a UNIQUE NEAR-TERM solution to contribute to Ireland's security of energy supply and can be commissioned and operational BEFORE OTHER alternative solutions that have been put forward." (my emphasis)
Absolutely perfect after the fracked gas at Shannon proposal by the US players yesterday. Gives the greens a far better face saving option (given they need the energy from somewhere)
Do love a mid day rns…I’ve added
I can now see a flurry of activity, it is all coming together, next news T&T, then MOU - 1 drill news, we are in to day 5 of a 14-20 drill program, targeting multiple zones.
MEM
and a well deserved reward for the short term traders MeM. lol
Excellent update with a bit more meat on the bone, PRD progressing to be, if not already, 'Hobson's Choice' for Ireland :)
Looks like there has been enagement etc. with GNI. The missing bit of the puzzle at this stage is the end customer we have an NDA with. I think it will be one of the main gas suppliers in Ireland. The top 8 are Bord Gáis Energy.
Electric Ireland.
Energia.
Flogas.
Iberdrola.
Panda Power.
PrePayPower.
SSE Airtricity.
Our partners here are likely to be also used to import LNG into Morocco if we win that project (and it is a project to IMPORT LNG).
Even if we do find lots of gas in Morocco, we won't be exporting it as LNG by sea. There is too much local demand for it or an easier solution of sticking it in the Marghreb pipline to sell to Europe.
Hi 2D
NDAs could also be signed with Centrica who operate Bord_Gais
https://en.m.wikipedia.org/wiki/Bord_Gáis_Energy
And
Simply Blue/Shell who are partners on the proposed offshore wind farm/Hyrogen project as quietly mentioned in the SLR report.
https://www.shell.com/energy-and-innovation/new-energies/new-energies-media-releases/shell-partners-with-simply-blue-energy-to-develop-floating-wind-project.html
AIMHO of course.
GLA
Wacky
Timeline for the Cork development plan https://www.corkcoco.ie/sites/default/files/2021-04/have-your-say.pdf
However, I think other factors on a National level could very well mean Mag Mell leapfrogs this timeline??
Another day another dollar
I didn't mean to time my post so well last night but it does prove my point.
I suggest everyone read 100 baggers it's an excellent read and you will see the links between PRD and such baggers.
The last tick in the box to get this party started is revenue!
What's that you say fall back to 4p on a duster! Hahaha
It does make me laugh sometimes when people try to make a large picture seem oh so small without realising the picture we see is actually small compared to the picture it intends to be!
Remember everyone each one of these 3 projects is now on it's own a huge company! Think about it!
How big can morroco be?
How big can ireland be?
How big can trinidad be?
Each sector, area and asset needed and carefully selected! Each one with little LNG branches coming off and governments willing to lower c02!
Remember this isn't just a drill in morroco this is multiple plays with the intention of reaching Paul's final goal! Imo a 100 bagger!
That was a blockbuster RNS.
Ireland genuinely has no better option.
Hoegh and jumbo want to work with us. Massey has extended our exclusivity contract on a number of occasions. Credit to Paul and Ronald.
More press https://www.spglobal.com/platts/en/market-insights/podcasts/focus/062421-drought-wildfires-challenges-us-power-market
Interesting to see Irelands annual gas demand requirements of around 5 Bcm/year being quoted. Someone could use that to work backwards and sense check the £26Bn over ten years figure??