Member Info for SecretBlueprint

Siemens is a self admitted equipment supplier, not a strategic partner.............

"Siemens will provide information and support to MFDevCo to secure identified gas to wire projects in return for an exclusive first option ("right of first refusal") to provide certain equipment and services to those MFDevCo projects on terms acceptable to both parties"

All equipment suppliers provide information and support to sell their wares.

There can be no GTW without the G. We need to hear about the G, not the T or W

Well if DNO or Chrysoaor or Ineos were in the office, I would say that was significant. But an equipment supplier? I expect equipment suppliers knock on the door routinely to talk shop.

Sharelock

You are missing the point.

TIGRE have committed funds (subject to FID) from GE and Oxford Capital and the planning applications are underway. The field is Sole Pit.

You are suggesting that someone will come and fund MFD without even a plan?

How do you know that this group of private investors are not responsible for the selling after buying a pup up to 18p by the twitter promotion campaign?

Paying for services with shares is a sign of financial stress. They paid off their PR person with shares as well.

These service providers are not investors, they will just sell off to realise the cash and send the SP down as a consequence.

It is a matter of public record that MFD have so far achieved:

No farm in or asset transfer of a gas field, which will require OGA consent
No field development plan submitted to OGA
No environmental impact study issued to the public for consultation
No planning application with IPA for a grid connection

I do not see how any investor will put money into the SPV to buy an "investment ready" project without all of those being in place.

Market leader IndigoTigre has all of that in place, plus funding, and they admit they are years away from earning revenue.

"News could drop any day" ...eh?

@mcadder...".So predictable you lot and easy to wind up"

Ergo, you are a wind up merchant IMO...nuff said

@mcadder....Got better things to do with my time....

Go do it IMO..........

pathetic loser
boy
usual muppets
(yawn)
crap on here

And you expect us take you seriously?

The other thing to watch is the career of Mr Einar Antonsen. His only UK board position is at MFDevCo, but he has been nominated to the board of the proposed SPV.

If the SPV is to be UK based, then it has not yet been incorporated, whatever it might be called, because Einar would appear with another director post.

So either it is not a company as we know it, or it might be overseas in BVI or Cayman.

Can you imagine the bulletin board uproar if the SPV was in an opaque tax haven?

The hotel venue in question is the Malvina House, which despite the protestation of the owners (FIG) that the name has nothing to do Las Malvinas, try telling that to the Argies. I am sure they booked the conference room legitimately and then held their chess games, nothing illegal there, but a piece of political chess really.

As the SP descends towards 0.2p it raises a real threat to the Company's ability to raise any more money through placings. A company cannot sell its shares at less than nominal value , which in this case is 0.1p.

The last placing was at a 50% discount to market and if history repeats itself, there might have to be yet another 1 for 10 share consolidation before any further equity can be sold . Cash generation from the business is now critical for survival I imagine.

Shareholder approval for a share consolidation will be required at an EGM. I doubt that the company will savour that prospect, but it will allow the directors to be held to account if it came to pass.

Wasn't Einar the chap who was supposed to find the money to buy the OSX3 ?

If someone can help. it would be appreciated, but I can find no evidence that Marnavi Offshore has a cable laying vessel or that Next Geosolutions has ever laid one, even though they have done surveys.

I am not so sure about that McAdder.

For a project of this nature to be investable into an SPV, it would require OGA approval and planning consent from the UK Infrastructure Authority in the same way as TIGRE has done, and those are public domain decisions which are absent so far with MFD.

Would you invest in a building project which did not have planning consent?

Like I say, mcadder, plenty of other opportunities, but this one has gone down the pan, so it's about cash again.

Royal Eagle in USA is a lawyers office in Houston. It is a front badge for Latin Capital Partners in Panama City. I have no doubt who its investors are.

It’s a bank holiday weekend and McAdder has taken over from Seadog to deliver repeats of RNS material and industry reports. Each to there own to defend their investment into this new world of gas as the transition to a low carbon world. No problem with that. Can I add my own view?

There is a remarkable silence from Castlefield House which many have commented on, and there is a plausible explanation for this silence on the GTW initiative.

Back in August 2018, Conoco Philips shut down the Theddlethorpe gas terminal, so ending gas production from a cluster of gas fields in the southern North Sea and requiring their decommissioning. Faroe Petroleum got caught up in this with their Schooner and Ketch fields, which were productive but depended on Theddlethorpe as an export route. We all know this from the public domain.

Faroe was prematurely pushed into decommissioning S&K, and they embarked on a decom plan. It was something that Faroe really could not afford and that was public knowledge too. Along came MFDevCo with a proposal to defer decom costs by a GTW project to tie into the Hornsea wind farm. Brilliant idea! Faroe bought into it and maybe even offered MFD some cash to come up with a plan.

This stroke of genius was the rumoured curved ball. It was explained to Last Throw and other insiders at the November lunch in the Liberal Club in London hosted my AM. Somehow the insiders had to blurt it out and they did. Very quickly we had LOIs with Siemens and Marnavi to deliver it.

The next curve ball was the hostile takeover of Faroe by DNO in January 2019, who made a big deal out of saying Faroe could not afford to decom S&K. Once DNO was in charge, they eventually committed to decom S&K because they can afford it and they have bigger fish to fry than GTW.

Then in May 2019, we hear from the trade press ”Faroe has hired the high-spec Ensco 100 for a nine-well P&A programme in the UK” . S&K is the only decom programme they have, so that is the end of the story from the Liberal Club. It seems MFDevCo is in denial if reports from Faroe are true, that feasibility studies are arriving after the decom drilling rig contract has been awarded.

Yes, there we are, and there will be other opportunities, but I believe this one has gone down the pan IMO

And don't mention Owen Oyston, Minty's idol