Member Info for spudtheplumber

Santa to visit islandmagee! ! ;)))

https://www.larnetimes.co.uk/news/santa-bus-will-give-free-tours-of-larne-1-8722724/amp?__twitter_impression=true

https://uk.mobile.reuters.com/article/amp/idUKKCN1NX01G?__twitter_impression=true

Big plans for CCS in the UK!

Another use for salt caverns

It's 65/35 debt to project equity split Jimmy (slightly better for us)

In the latest podcast interview JW states intention to sell of a % and move on to the next project (obviously keeping some interest in islandmagee )
It's all about the best deal for shareholders. Talking to 4 potential equity partners

Good call!!

Great post Brew!

I agree towards the end of Q4 was always going to be the culmination

Many more to come imo.......

Official clarification
Potential £65m Capex saving from upper figure used in original financial model

https://uk.mobile.reuters.com/article/amp/idUKKCN1LT2EW?__twitter_impression=true Hard Brexit, soft Brexit, no Brexit if we are successful with the 40mill grant application it's comforting to know the money is secure!

False spread, mm shenanigans Only way to know for sure is if you do a dummy buy or sell at a similar time

A lot of the .63s were buys this afternoon.

Blue day tomorrow hopefully

Very informative interview! He's after several projects at various stages of development!

We have been told recently that we are talking to 6 potential off takers. We have also been told the 8 cavern project is circa £50mill less CAPEX than our original economics were modelled on. Not so much "build it and they will come" more like "they have come so build it" GLA

Each cavern is a similar size to the gherkin building in London mitch

https://www.google.co.uk/url?sa=t&source=web&rct=j&url=https://ec.europa.eu/inea/sites/inea/files/5.1.1-0005-ukie-s-m-16_action_fiche_gas.pdf&ved=2ahUKEwj3uraN_-reAhWLAsAKHdDjAeQQFjABegQICRAB&usg=AOvVaw2vfRGBuHFSqNyUs2UHFW0l

Reversal of snip is €1.85 mill half of which is funded by EU!!!!! (PCI)

Hi Setanta
Just my thoughts

With the lower capex and 40 year life of the facility I think we can safely say the project economics will be much improved!
To justify the other 6 caverns the SNIP needs to be reversed. I'm assuming our potential equity partners have fairly deep pockets. Will they also help fund the SNIP reversal to make phase 2 a goer?

I'm only a plumber fwiw and all a bit above my pay grade ;)))))

*phase 2

Imo this will give us a much better chance of getting the SNIP reverse flow done which leads the way to phase GLA

https://twitter.com/JohnWoo64494325/status/1065882714971258880?s=19 Nice!

I've been reading the rns again.

£114mill for 2 caverns and all infrastructure (gas plant, brine leaching plant, brine pipelines etc) make £265mill for another 6 caverns look expensive!!

I think total for 8 caverns is £265mill well under modelling estimate!!!

" for a successful final investment decision before the end of H1 2019"

Small point but previously mentioned June for FID, looks like could be slightly quicker