Member Info for Nobby31

Well I'm afraid you will be proved wrong Xenor. But keep the faith as it will come.

Thorbbing? errrr

I think with the current state of government and the not so helpful article in the TImes newspaper recently, they will probably be having a little internal enquiry. A few questions asked and answered so that Bab**** (who sponsored this attempt to derail future competition) and the short sighted MP who is in their pocket are officially dealt with.

I'd expect at least 6-8 weeks but am looking for a clear conclusion and an RNS end April. Belfast is "thorbbing" with work and the other yards are looking brighter by the week.

Thanks Lottie123 for sharing that view.

Are you still invested if you don’t mind my asking ?

I think it’s called restructuring the balance sheet

Much bigger deal s in much larger corporations are kept quiet Stokey. AIM ought not to be any different

It's a fact of AIM that there are leaks before any RNS hits the screens. This is not to disparage HARL but I expect this is likely to be true for the UKEF confirmation. I have asked a couple of institutional investors who do not cover HARL about the possible impact of the deal and received some incredibly positive feedback given where we are with our current debt and its owners. They seemed intrigued that we might receive 100% (vs normally lower coverage of 80%) which they suggested could be "transformational" and if margins can be protected they can be much much more competitive when bidding for new work. Aside from all the other news this seems to be the most significant value driver. As many of you know I am still very wedded to the gas storage project which I think will definitely progress; just can't say when!

Please stop making stuff up. You haven't a clue. Unless you are leading the HSBC consortium negotiating this of course; in which case do be careful not to breach any confidentiality.

Go and blow your out of tune tiresome trumpet somewhere else and give us losers the space to revel in hope, however forlorn.

Hebridean9 - this has been a long stated concern and partly why there has been little in the way of corporate investors. They are too scared at the moment to invest thier clients funds. However, the cash position which existed at year end should be more than sufficient to enable the UKEF structure to be finalised by end Q1 or early Q2. That provides a bridge which in turn leads to materially lower financing costs. I don't see that as being the issue . For me it is about what type of work they are able to secure. Ensuring the targeted margins are achieved for some of the larger capital projects is going to be instrumental to the success of the company. I don't doubt that these will come along and therefore I do not attach much risk on achieving forward turnover targets if that is important to some

Hi Consuela, are you concerned about the caverns not proceeding or the share price falling i.e. the company not succeeding? I guess it might be a personal thing but, as you are well aware, there are a lot of livelihoods and careers resting on the success of the company; this applies whether the caverns proceed or don't.

H&W had very significant funds in the bank ie. liquidity at year end. I'm not saying how much but it makes the market cap look even dafter. The share register will improve as we move further into 2024.

Perhaps we could swap Chairmen?

Chrisatrdg,

Gosh I just looked and it’s up to 35! Wish that was the current SP; we’ll get there before the year is out. There will be some iis sniffing around before long once it is accepted we aren’t a here today gone tomorrow outfit. JW said to me it would take 5 years and this is year 5. Go figure

Having been stuck in this one for well over a decade I dread to think the hours, days, weeks I have spent looking at the share price wondering when it will do what we all hope it will. For me, despite the many setbacks and false dawns I am more optimistic than I have been since Centrica very nearly paid a small fortune for the Portland Gas Storage project in 2009. I think we all know what is coming in 2024, probably later than we would wish but it is coming. The UKEF will give us a securer financial platform from which to take on some larger contracts which are imho almost certain to drop in the next 6 months. My prediction is we will smash the £200 million turnover target for this year into smithereens. What that means for dividends and the share price who knows but looking at how we are positioned, even in what has been an awful period for AIM, the global geopolitical mix is a heady one that plays into our hands. H&W is now much much more credible despite all the naysayers than it ever has been. I don't really see why people want to spend their time trying to nail the company on this board but it does take all sorts and some have personal grievances so I am not deriding it but the quality of the postings is improved recently with less unwarranted drivel. I would say, if you have some, hold them, if you don't you might want to grab a few because there is not much downside from here imho. GLA

Hi

I am more optimistic than that and think there are some key "moments" for us in H1 24 which will somewhat de-risk the proposition of being a HARL shareholder.

Debt

Just wanted to be the 100th post today

I've not much idea about when the new financial arrangements will be put in place but if they are consistent with JW's previous comments i.e. in single figures that will be a game changer. From my work I am seeing loans to small companies at pretty awful rates at the moment eg SONIA plus 8/9% as well as the usual caveats.

If we get a circa 9% facility that has a pretty significant impact on debt servicing provisions; I could see the SP responding very well as it provides certainty. I do still think. we could do with a "better" BOD and some changes I believe may come

There are several reasons why cavern storage may be preferential to the use of depleted natural gas reservoirs.

We can go into them in more detail on this thread later if that is helpful.

One of the most significant factors is the ability to fill and empty caverns more quickly and take advantage of diurnal price fluctuations. In the highly volatile energy markets that is a precious asset to have on your books as it enables traders to take advantage of what is called the extrinsic value on their books (not intrinsic - this is seasonal spread) .

I won't go on in case everyone starts yawning.

Of course consenting, capex per sbu, opex are all really important too but flexible storage assets are very valuable. I know that applies with natural gas but I am unsure if that will also apply in a similar way as the hydrogen market develops. Hydrogen (this is from memory ) only has about one sixth the calorific value of methane so in this respect it will likely be priced very differently but then there will be no CO2 related taxes once it is in the grid; quite the opposite it may attract some sorts of clean energy subsidies. All for now. Good evening everyone