Member Info for spudtheplumber

2/3 off the funding is pre qualified for the government guarantee scheme, basically risk free to lenders so a bank loan.

1/3 will be a share of project at project level (we own 100% of islandmagee storage ltd)

CBRE have been brought in to access this

The majority of the net proceeds of the Placing will be utilised to provide the funding required to enable the Company to commence and complete the Front End Engineering Design ("FEED") for the Project, which the Board considers to be a key step towards obtaining funding for construction of the Project and its commercialisation.

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§ Taking into account the remaining net proceeds of the Placing and current cash reserves, the Company is satisfied that it has sufficient working capital until the end of 2018.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=INFA&ArticleCode=8l1khfgg&ArticleHeadline=Strategic_fundraiseproject_updateJoint_Broker

http://www.mutual-energy.com/other-projects/scotland-to-northern-ireland-pipeline-snip-project/

Worth highlighting that the planned reverse flow of the Scotland-to-northern-ireland-pipeline- (snip) is also a project of common interest (pci)

This will make islandmagee much more attractive to gas traders

I believe the majority of cash will have been spent on the drilling and analysis of the salt cores.

Myself and mcadder saw a core section on our recent visit to islandmagee

Another thing we saw was the well pad and the tarmac access road which will have cost a fair wedge and will be an important part of the infrastructure when construction starts

https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/072718-norwegian-kollsnes-gas-processing-plant-in-unplanned-capacity-restriction?utm_source=twitter&utm_medium=social&utm_term=naturalgas&utm_content=news&utm_campaign=newsarticle&hootpostid=57bfa6a3df88148b17ba82a834efa562

Unplanned outages need to be planned for, this is one way gas storage can help in security of supply

Two different things imo and good luck to everyone imo.

A lot of lths are very well researched here and have certain targets in mind (a lot higher than here I may add)

Tr1 holders and directors aren't "top slicing" at this level that is for sure

Look like buys to me, good stuff

Nobby I and a lot of others agree with the buy and hold play Ref to the LNG did you know islandmagee will be the only gas storage facility next to a deep water jetty, previously used to ship coal to Ballylumford power station?

http://evermoreenergy.com/belfastpowerstation/ Big backers on that project due to open a similar time to first gas at islandmagee! Perfect timing

Plans for new 480MW gas power station at Belfast harbour too

This will allow earlier revenue generation and also reduces upfront Capex massively (approx 2/3 gov guarantee scheme loan & 1/3 project level equity )

http://energypolicy.columbia.edu/research/commentary/termination-groningen-gas-production-background-and-next-steps "For northwestern Europe, the end of Groningen production means the end of a major source of flexibility, and policy makers should contemplate how to replace that flexibility, also in light of the poor economics of natural gas storage in the continent in recent years (as illustrated, for instance, by the closure of Rough in the United Kingdom). "

https://www.linkedin.com/in/arun-raman-b391248/

Hi Mick Enough cash until at least the end of the year to complete FEED (which CEO said recently was ahead of schedule and under budget) Once sp gets a bit higher I'm expecting warrant money to start rolling in which should take us through to construction middle of next year

The only thing preventing an increase in the number of caverns is a planning application and approval. Loch Larne is huge! Massive potential here imo DYOR

Appointment of Non-Executive Director



InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, is pleased to announce that the Company has made a key appointment to the Board of Directors with the appointment of Arun Suri Raman as a Non-Executive Director, with immediate effect.



Arun Raman has spent the past 20 years within the commodities and infrastructure sector. While at Star Energy Group plc (now known as Petronas Energy Trading Ltd.), Arun was responsible for commercialising its 10BCF Humbly Grove Underground Gas Storage Project, including the negotiation and commercial delivery of the Gas Storage Agreement with Vitol SA as the capacity offtake client. He also negotiated and executed agreements with the National Grid in relation to physical gas flows between the Humbly Grove gas storage facility and the National Transmission System. On the trading side, Arun set up trading desks for natural gas, power and carbon emissions for the group.



Following on from there, Arun was hired by Vitol Services Ltd. in London where he was actively trading carbon emissions and other commodities. Arun specialises in commercial negotiations and monetising assets underpinned by commodity flows as well as trading of commodities around such assets.



Arun is a qualified Chartered Accountant having completed his training with PricewaterhouseCoopers and Citibank N.A. in India. He has been a member of the Institute of Chartered Accountants of India for the last 17 years post qualification. He also holds the designation of Certified Internal Auditor awarded to him by the Institute of Internal Auditors, Florida, USA. As a result of his qualifications, Arun will chair the Audit Committee of InfraStrata plc.





Welcoming the appointment, Chief Executive Adrian Pocock stated:



"We are very pleased to welcome Arun to the Board of InfraStrata. Arun is a highly qualified accountant whose skills will complement those of the Board and unusually, has a great deal of experience in the development of gas storage facilities and the trading of gas. His expertise will be integral to our ongoing commercialisation discussions and negotiations for InfraStrata's Islandmagee gas storage project.



His knowledge and experience of the day to day operating challenges and the maximisation of profitability for similar projects to Islandmagee will be invaluable to the Board and to shareholders."

Good post Nextlink

Arun Raman has spent the past 20 years within the commodities and infrastructure sector. While at Star Energy Group plc (now known as Petronas Energy Trading Ltd.), Arun was responsible for commercialising its 10BCF Humbly Grove Underground Gas Storage Project, including the negotiation and commercial delivery of the Gas Storage Agreement with Vitol SA as the capacity offtake client. He also negotiated and executed agreements with the National Grid in relation to physical gas flows between the Humbly Grove gas storage facility and the National Transmission System. On the trading side, Arun set up trading desks for natural gas, power and carbon emissions for the group.

Brilliant appointment and shows where we are headed

I agree eyeguy! 10p is just over £100m This is a major infrastructure project

Nice one Chris! 5p here we come lol