Member Info for Nobby31

LNG goes to the highest bidder. U.K. gov tried to seek long term supplies but cannot stomach the risk of saddling the taxpayer if prices fall. Needs domestic incentives to enable supply side but also not forgetting demand side management by all. We should import less as it has a larger co2 footprint. We do have supplies in UKCS but government should set sensible strike price for taxpayer and developer to give confidence. Gas is inevitably a transition fuel to get to net zero. Storing it makes perfect se sense. Gov has been myopic and they know it. This will happen I just don’t know exactly when but protesters haven’t a hope in hell of stopping it but they have done a good job holding it up to be fair

If it’s like the buffoons that purport to call themselves politicians over there this won’t be resolved for ages. They’d rather have a ruddy good argument then actually do anything that might be beneficial for the people. I’d ship them all off to Rwanda to see whether they can agree to split their differences before their allowed back. Way too many folk luxuriating in the benefits of political office and getting paid for not being where they should be in our softy liberal democracy. Righto that’s better

Given what is at stake across the numerous targeted sectors we must be a buyout target for someone. Deep pockets not required as shareholders would jump at 20p + which still values us around £30 million

With no changes to TR1s I agree that it’s very confusing. My only thought is that an MM is holding a large chunk on behalf of a buyer but surely even that would need to be declared although I think certain MMs activity is below the radar. It must be of concern to HARLs management yet nothing has been said.
Until we have the RNSs that we have been informed will come it’s hard to see how we can recover.

There ought to be sanctions for that sort of behaviour

It must be a concern for employees and contractors alike watching the share price only going in one direction. With the Board effectively demonstrating they have no control whatsoever of the value of the company in the market place I’m not really sure how we are expected to retain any faith in those in charge.

They read all of these posts

The market cap is now under £15 million. This is a text book case of shareholder value destruction. AIM is very good at letting this happen …. and so were we. The PR and the attempts to court the City have been futile. We now rest most if not all of our hopes on a value realisation event linked to a JR but even then will any proceeds find their way back to beleaguered shareholders or be sunk into the shipyards and the poorly structured financing facility. It’s difficult to remain quiet about all this when you’ve invested so much and trusted the Board and there has been little to no reciprocation on how an investor, any investor can expect to see a return.

I don’t feel that the Board has painted a fair picture of how the finances are for the Company. But then why would they as they don’t really want any panic to ensue. I may be wrong but I think they are hanging their hats on the post JR RNS which will either be we got it or our Plan B is now enacted where the salt is extracted and sold probably for little revenue. I would hope against hope that an investor is announced as the amount of time it’s taken and the fact we are in an energy crisis is just plain mad or just plain useless. The original asset has value, as for the rest of it I have my doubts especially with the Riverstone facility effectively sucking all the margin from the work. Fingers crossed for Q4

Be good to get your take on this Lottie123. More jam tomorrow or concrete chance of improvements coming soon!

Good luck

The share price is not funny.
This ought to be the number one item on the AGM. They will certainly want to raise again in the future but this looks increasingly difficult unless some whopping good news comes in re storage sale and FSS contracts.
This cannot continue to be glossed over by the Board so I hope it is treated with the urgency and importance it deserves from the Board. Otherwise my fear is this company could end up in private hands.

Don’t worry eventually “they’ll” run out of shares to sell

I think that as long as this has been carried out in a transparent way ie a tender process with an independent review board then it is OK. I think it is entirely predictable that shareholders would pick up on this matter and so the Company ought reasonably to have foreseen this and provided information to the shareholders to demonstrate the process that was followed. If it was then there can be no issue if not then questions should be asked of quite what did happen.

It doesn’t look good at all. Do we think or know if there was any kind of tender process to award this contract ? If not given the level of expenditure I wonder if the auditors picked this up. Misuse of company funds? It looks like a sackable offence if there is no clear audit trail.

I think you are much better at playing join the dots than me Chitta123! The Board will realise that the storage project is better placed in the hands of experienced operators. As for the vessel I am not sure but regasification? To build an LNG tanker from the hull up would cost a few hundred million at a guess and that would be a guess. Can't see it myself. Would be nice if they won the Scheihallion decommissioning work though

Please could I have a little of what you’re smokin’ Chitta123.

It’s not really waste Consuela. During leaching the other strata fall to the base of the caverns. The salt could be extracted which is why a marine licence isn’t necessarily a must have but that is energy intensive and arguably less environmentally beneficial than a small zone in the sea where the discharge occurs. As I’ve said earlier this does less harm than a single trawler so I think you’re all making a big fuss about nothing much.

employ!

Im not saying that it wouldn't Stokey12. It's just my preference. Also HARL are not gas traders; we would need to empty an experienced energy trading team to manage the retained capacity. This could be farmed-out but something as sensitive as this you would want to retain in house. It's not what HARL is about anymore so they are better out of it