The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Company's comms say mixture of contractor deferrals, debt, equity and offtake pre-pay. Nobody knows the ratio.
AGM today? Anyone going? Seven Pelican anchored off Great Yarmouth. Didn't keep track over the weekend re. how long she spent in the field so not sure if long enough to install the subsea pig receiver. Fugro Galaxy back in the vicinity and plotting some interesting routes. May well be unrelated to IOG though.
Seven Pelican now transiting to "GB BLY" which I'm sure is Blythe. Good to see this work getting underway.
East coast - it will undoubtedly be a big deal re. the company's developments. However what that translates to re. share price is anyone's guess. I don't personally expect it will cause new highs to be seen.
Not only did the bold Oilbell pretend to go to Ireland and find some of the drilling crew but he also posted around 27483838937583948 times that the longer than expected PVR drill was a sure fire 1000000% guarantee that the motherload had been hit. He was even planning to host his own £1 party. Funny how history repeats eh?
Don't see anything to say they lapse. Were granted as part of the AIM admission, expiry was Sept '18. As far as I can make out, the �32k 16p trade was a "sell" going by the time of trades. "Sell" of course as there was someone on the other side of the trade buying, just like any buy is matched with a seller. No doubt Baker Hughes (on the selling side!).. Seven Pelican now just off the coast of Middlesborough...
Been keeping an eye on the Subsea7 DSV's that might be involved in the pigging scope. The Seven Pelican just left Peterhead for Great Yarmouth so think that could be it.
Daftasabrush - I think the company's timelines are quite open. Up next pigging and pressure testing of the pipeline. Won't be don't before the AGM. Might've started though... Keep an eye out for vessels. Volticore - AGR did notify via TR-1 when they went below 3%. I think maybe Transocean should've but didn't, can't think of any others? Although how these companies might distribute shares / pass on to brokers and what that means for notification requirements is anyone's guess. I'd be amazed if the consistent block sells we've been seeing recently aren't BH selling down their shares.
Trustatrade - I'm not sure I follow. It's up to the holders / sellers of the shares to send the company the details of notifications, the company then just release that via an RNS. Unless you think that the company is withholding RNS notifications that they've been given? Not that I'd see the benefit in it for them of course. Let us know what the company says?
If you sign up to research-tree and then their free trial you can get it.
I had a read of the note. 50p is their fully risked, fully diluted NAV. Excluding any value for Thames line and potential tariff revenues. Harvey value is risked based on the published 50% geological success + 85% Commercial risk on top. Unrisked NAV is 82p (exc. Thames too). Based upon 45p per therm. 10% increase in this translates to 30% increase in NAV. (12mth NBP curve average is just below 51p per therm). Free cash-flow peak of, �280mill, forecasted in 2021. Potential pay-back of project debt in c.3 years from start-up. Worth signing up for a trial and reading.
And I should've said "... Won't be as a result of a lack of expertise..." !
And I think the licensing round announcements should be imminent, will be good to see what IOG have got...
Good to see the board strengthened.... the Clipper South involvement/experience expands again. If anything goes wrong it would be as a result of a lack of expertise or experience. Research-tree has a week free trial (you still need to provide card details) and mine has unfortunately run out... maybe someone else fancies signing up? The gas curve continues to strengthen, should make for interesting discussions with the lenders and off-take parties.