Member Info for aunty

1 to 8 caverns was still on one of the slides which he said needed changing and later on something else, can't remember what though

Arun worked through the cumulative cashflows as if the business had been operational and generating cash over the previous ten years. Although I didn't fully understand it, the figures looked impressive to me. Also, they mentioned a cash injection from both offtaker and equity partner so don't be surprised if there's a steady stream of positive newsflow over the next 6 weeks, that's my feeling anyway. One of the audience asked John a blunt question which he wouldn't allow himself to answer else divulging "state" secrets. If only I could remember what the question was. It's good that they do these shareholder meetings else we'd all be moaning that they don't keep us informed! How many boards on Aim do you know keep their investors in the picture? Not many. Maybe the info divulged yesterday should have been rns'd but I think things are moving at a pace and being tweaked here and there, finance being signed off, draft agreements drawn up, stuff like that. Hold on tight

Does no-one realise that this is massive. There's a sense of urgency by the board to get this first phase completed in its entirety and construction started, then move onto other projects incl 15 more caverns, SNIP etc. To have one company wanting the 7 not just 2 caverns is a biggie for me

Yes. Because the offtakers want the 7 caverns in total not just the initial two. So in essence things are being speeded up for the whole project, plans for the other 5 caverns may have extended it to end of 2020. The initial terms are likely to be 12 years so you can understand the due diligence required for the third party to hand over x millions for 7 caverns in total. Someone is keen

I may have mixed up a few of the details, these negotiations are complex, way above me. John is a very clever and astute negotiator and won't take the first offer tabled if it's not in the best interests of the company. The structure of the company looks sound, in fact Arun said the cash burn is only between 20/30 grand a month. I believe millions will be pumped into the company within the next few months. Solid company with a big future, you can't say that too often on Aim!

There was alot to take in. Basically there's only one offtake partner now, if my memory serves me right, but they want the 7 caverns in the equation and also a 50/50 split on equity. No issues on brine outflow as they comply completely with regs (a fraction of the requirements in fact). Mentioned the protesters but very respectful to them and said us investors shouldn't goad them on social media. A full marine licence can't be issued until certain criteria are met. Any government guarantee scheme is not needed as funds will be met from commercial endeavours. Indeed, if you need the government guarantee your project is not viable. No need for an EU grant as this could delay the plans they have already but are applying for EU funds to progress the SNIP which would enhance the project. FID likely 4th quarter but anything could happen in the meantime. Very impressed with Arun. Spoke at length with him about the income not from just the spread on the injection of gas/hydrogen/others into the caverns during year but also trading gas (multiple income possibilities). So, we have the physical AND intangible aspects :-). Spoke with John, Judith and met some other shareholders on this board. I came away with a very positive feeling. I suggested some scenarios of what may happen in the future with both Arun and Judith; they weren't denied. ktf

Hold tight mate. Everything is under control. Marine licence not a problem and it's all 7 caverns in one go, very brief summary

I'm on the train too. Chance to ask questions and look at the whites of their eyes ;-)

Anyone going tonight?

WOT?

Wake me up before you geo geo

Yup. Nice hols guys? LOL

4) Check in to see if the pump and dump has started, overdue now.
Perhaps it will start when everyone is back off their easter hols!

Anyone going to the London event? I'll be there

What's up with you guys. There hasn't been a pump and dump for months lol

Lol

Looking forward to catching up with everyone at these events, great opportunity to answer questions regarding the commercialisation of our Islandmagee gas storage project, recent announcements and our vision for the business as we move forward. #INFA

... but I'm not

It's a bulletin board Setanta not the bible :-) BBs are not the place to base any investment decisions on I'm afraid. I'd have to seriously consider my position if the sp ever rose above the 3p mark, which I think is achievable in the short term. I think many private investors too have rather sizeable shareholdings in this company so much interest there. Just a matter of time

Anyone notice, John is looking slimmer in the tweet photo at the conference?