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If you know much about complex infrastructure developments then it is quite usual for their to be many hoops to jump through. The corporate entities that are currently engaged with HARL on the storage project will have done their due diligence and not be discouraged by this in my opinion. The energy complex is crying out for energy storage (be it hydrocarbon, hydrogen, CO2 etc) and this is with us for decades.
On balance I don't really understand the environmental concerns being material to the bigger picture as this project is very benign so talk of marine creatures and habitat being lost is inconsequential (as shown by other projects), abandoned caverns blowing out is incredibly low risk and highly unlikely with todays plugging technologies. There are hundreds of thousands of plugs and abandoned wells many of which are in the North Sea. The energy security and integration benefits of a green storage project to NI/GB are immense. The project will go ahead but I'm just not sure when.
MMs holding and amassing quite a book for these trades to happen. Over 1% of the company so far today.
I think that any contract news will leak before we get to hear about it but let's just hope it does come in Q2 and we don't have to put up with another round of excuses due to blockages in the pipeline.
One always has to be prepared to disappointment with this lot; when you think all the problems are in the past they are expert at delivering more however it does look a but brighter. If Putin holds back gas it just makes the case for strategic storage even more compelling albeit the government and some market commentators think LNG will save the day
The JR ought to be the last major hurdle before we learn about progress on this. I can understand why they aren’t saying much right now. This opportunity is what the company was started in the first place and it’s now very valuable. Hydrogen has slowed it down but it has to be worth at least 1/2 multiples of the current share price to the developer
As usual it’s a fairly clueless update to the market.
They don’t manage shareholder communications at all well. It’s just amateur. I hope like others the new investors provide much needed “assistance” both organisationally and operationally
there's me getting excited again hoping for a new contract award but no, a revenue deferral announcement coupled with the ubiquitous jam tomorrow in the pipeline mantra. What a ****** bore. Anyone up for swapping out "pinky and perky" for some proper characters. Brexit, covid and the war haven't helped but the Board are officially not my favourite people
Thanks both for this technical information.
It does beg the question which if correct about the lower supply of shares, what happens when and if there is a contract award of some note?
I imagine it means a more significant rise if there is a greater proportion of LTHs.
I have given up attempting to second guess when HARL will actually deliver something meaningful from the pipeline of opportunities but feel considerably happier with the current situation than I have for some months albeit I still question their ability to deliver re the yards.
The market ought to sort the storage project for them without having to be particularly shrewd operators
Hi Lottie
thanks for your thoughts and analysis on the strange trading environment we have been in for several months and more specifically the period since the dramatic fall in the price since the last placing taking us from circa 30p to sub 20p.
I am no expert but I wonder if it is possible the MMs are moving stock between their accounts. That could be why we do not see more TR1 notices. The reason for this I do not know but it could be to shake down loose holders. I would not be surprised if there are certain parties that would like to see HARL take private .... at the lowest price possible. That might explain the lack of upbeat information but that's a stab in the dark which, by their behaviour seems to be exactly where our ineffective and largely unaccountable Board want us to be? One large contract would dwarf the market cap of HARL and provide a new owner with flexibility to construct and sub let to others ; in a rapidly de-globalising world with more on-shoring these assets (with further investment) should be on various companies radar screens now. In terms of the way the company is owned the lack of material II investment speaks volumes about how the business world regards the quality (and other human values) of the Board of Directors; I think most retail investors agree with that to some degree and the scarcity of city money proves it. There is no obvious solution to this malaise that I can see other than HARL announcing new contract wins or changes at the top of the company so we aren't governed by a group of yes men. For me a recognised independent chairman and non-exec are now a pipe dream. The pipeline of contracts in the hundreds of millions is blocked or at least clogged and the shareholders have nothing left to give so the leg breakers (as someone described them) are what is keeping us afloat. Whist I feel like a pillock for investing so heavily its my fault as it is AIM and we all know the risks. However these assets especially the storage project must surely be worth some multiples of the current share price in the hands of experienced and trusted executives that know what they are doing AND have a track record of delivery. So, despite the shenanigans around the share trading its real leadership we need to get us out of the hole.
Yes your right on the money with that comment Stokey
Shame they still haven’t figured out how to deliver value to shareholders. To be perfectly honest it’s not a priority for them and never has been. We’ve been milked dry and now he’s had to go to the debt markets on his knees in the last chance saloon
You really can’t help but wonder if this prize asset is simply in the wrong hands. Arun has previous experience of storage infrastructure development and SNIP is critical but Mutual Energy must surely be behind this development. The fact a deal has still not been announced when literally dozens of other projects have gone from being behind us to getting investment tells me the HARL knitting circle are no doubt working hard but may be holding out for more instead of taking the bird In the hand
Tight lines Bubble! What are you fishing for Seabass?
I bet you net more than HARL. Another week slips by without any information from the Company to its investors and no contracts of significance. How long do they need for goodness sake?
Enjoy the sunshine.
I see we are going to be getting methane with Stars and Stripes on instead of hammer and sickle
Lottie I agree Avyerdowt's comments of your helpful postings
What could be the reason for this. The shares have to be bought and sold by someone and the obligation to issue TR1 forms both up and down means the only thing I can think of is the Market Makers are in some way manipulating the shares as they do not have to declare their holdings (I don't think ).
To anyone in the know about AIM, MMs and this type of activity there can't be many explanations for what has been occurring over the past few months. Maybe the MM is building a large holding for someone to swoop on and making sells to reduce the price when volume is low. I don't know but i would love to understand this from someone who likely has some explanations. If you aren't sure do you have any connections that might assist? It is all rather fishy I agree
I hope we aren’t just waiting for government money to sort out the yards but the speed and lack of success in winning any material business from the current Board and management team is nothing short of disappointing. I’d been given strong and positive assurances over 12 months ago that contracts were ready to be signed and that we were just waiting on various counter parties to sign off. Whilst this may have been true nothing materialised of note. It’s pretty amazing they’ve managed to string it out but now given the energy crisis and deglobalisation it’s hard to see how anyone with the assets we own could fail ….. isn’t it ?