Re Marine licence17 Apr 2019 14:58
I think the importance of the Marine licence is paramount.
Although Mr T you are correct it does state in latest RNS....'Further, DAERA has provided the Company with clear guidance that any changes to its initial submission would result in a delay to the proposed construction timeframe, but the Company is pleased to report that it has reconfirmed to DAERA that nothing material has changed from its initial application and that it is progressing as planned.'
However, there WERE changes between the submission of the licence and the 'Hiccup' with the licence (I mean since it came to light for SH in January that the licence was not in fact a done deal). The cavern numbers were stated as 8 (now dropped back to 7 as in the original application in 2011....which is still open). This 'coincides' with chairman going with immediate effect. IMO nobody of that level leaves with 'immediate effect' without good reason....and 'concentrating on other projects' is not reason enough to leave without courteous notice without another chairman to immediately take over and even then there would be a decent handover period.
There was also talk of 23 caverns which we have not heard a murmer of since the 'hiccup' with the licence. This will cause another furore regarding discharge when/if it finally goes ahead.......may at that stage need much longer discharge pipe far out to sea?
Also, another point that disquiets me is not a word of work on site, yet wasn't it indicated that much site preparation work was going to go ahead from January?....why no update on that?
Even I wouldn't sign an agreement committing a large amount of funding before a guarantee that a licence was actually there and in force. I can't imagine in my wildest dreams that a company (let alone a blue chip) would commit unless licence was actually in force. I can't see these agreements being signed, nor by extension, a final investment decision being made by end of June IF the licence is not actually in place by then .......all my opinion only.
I for one, will give a huge sigh of relief on the licence being issued...many a slip twixt cup and lip!...there is a right of objection and that must be taken into consideration....although I believe the licence will eventually be granted there may be an extended period of argument by objectors that may have to be batted to and fro and legal processes are sometimes lengthy.
I'm not trying to put a damper on things....I am heavily invested...and hopefully in for the long term...it's just these are my genuine concerns.
However, having said all that, I think we will eventually prevail but it might just not be as simple and straightforward as we are led to believe.....I sincerely hope I'm way off the mark.
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