Member Info for stokey12

Consuela ref your 16.21 post as you will see from the Bill which can be found from this link https://bills.parliament.uk/bills/3158 under clause 2(5)(a) which provides (5)
Infrastructure includes technologies and facilities relating to— (a)
25water, electricity, gas, telecommunications, sewerage or other services (including the provision of heat),
This provision has to be read with Clause 4(a) which provides
'15(4)
The Bank’s activities are— (a) providing financial assistance to projects wholly or mainly relating to infrastructure.

So reading these provisions the Infrastructure Bank could provide financial assistance for IslandMagee.

During the Q&A there was a question about takeovers can anyone remember/understand the answer?

PIFace ref 11.22 post I get the impression that there is unlikely to be any increase in production before H2 2022. No production guidance will be given. I am not sure I totally buy the excuse that it is difficult to reliably predict production because SENX does not have a large enough number of wells for this to be done.

Just seen this https://www.afloat.ie/resources/irish-ports/shipyards/item/54537-launch-of-partnership-between-harland-wolff-and-the-seafarers-charity It will give positive news but not sure what else.

I see that all resolutions were passed no surprise there. However the vote on reappointing JA was interesting. Just over 5.5% voted against his reappointment. I read that as a warning shot.

AlbertoZ ref 10.31 post I wonder how they define soon though. I think that HARL might want to consider a strategic investment to upgrade its facilities to make more use of opportunities that all the wind farm developments would bring. Does HARL still have that land Appledore?

barnyards ref 09.48 post at the last investor presentation for the full year results I did ask when production would be back to 2020 levels. The BoD said they would not be giving guidance so did not say. They are likely to say the same today.

The revenue figure of $13.4m was inline with what I was expecting. What would be interesting to know is where the money has gone. Capital expenditure was $1.5m. EBITDA was $3.1m. That means that there were significant revenue expenditure. Some of this may be counted for by windfall taxes but a breakdown of the revenue expenditure would be nice.

I also note that the cash balance at 31 March was $6.2m which is down on the December 31 cash balance of $8.4m. I appreciate that this is a capital intensive business but I would have thought they would have tried to build up reserves while we have high oil prices.

I see the BoD are not expecting the AGM tomorrow to last long as the results presentation is at 11am after then 10am AGM. It is perhaps interesting that the two are on the same day.

Chrisatrdg ref 13.40 post not sure if this one was posted before from two days ago.

https://www.linkedin.com/posts/activity-6927726844112732160-DR5s?utm_source=linkedin_share&utm_medium=member_desktop_web The text says
'
Lot’s of activity in Appledore today, fantastic to see! #fabrication #shiprepair ' Interesting to see the photo of the Avocet.

Thenorthend ref 10.50 post I think HARL do more than wash ships. I would not agree that with Sin Fein the largest party it is game over. One option and it may actually be cheaper than long drawn out litigation is for HARL to promote a Private Act of Parliament to give them the necessary authority to create the salt caverns and while doing that get permission to store Hydrogen in them. There will be objections to the Act but it would be up to the MPs whether to approve the Act. I am not sure if a Private Bill can be made by the UK Parliament in relation to reserved matters. I am inclined to think it can as it is Sovereign.

With just over half of the seats counted it is looking like Sinn Fein will be the largest party in the Assembly. I wonder what effect this will have on the IslandMagee judicial review. Would a Sinn Fein minister change course?

Antha ref 14.53 post How would you define a safe country? A company that is producing 1000bopd would at the current oil price be making around $100,000 a day so I am not sure SENX would be able to afford to purchase it.

Tonyh1975 ref 11.43 post DAERA conceded permission so it is going to a full hearing later this year.

Nobby31 ref 11.26 post as we are close to the AGM I think any motions will be held off until then. I would not be surprised if there is a shake up as institutional investors are not likely to be happy with the drop in share price.

Clarets ref 09.29 post due to the high oil price and assuming that Q1 production was the same as Q4 2021 then I would expect EBITDA to come out at circa $8.4m. This would mean that the earnings for Q1 equalled all of last years earnings.

Sorry I misread the RNS as Traa-dy-liooar said in his 07.08 post it is the Q1 results so ignore my 07.05 post. my question in advance for the presentation is
For most of Q1 the price of ill has been over $1 a barrel. At this price revenues will be significantly above last years if the price remains this high for the rest of the year. In these circumstances once the 2022 capital programme has been paid for would the Board consider a one off dividend payment as opposed to a buy back which to date has had a limited effect on the share price.

I will be attending the presentation next week. We will have four hours to digest the results before the presentation. Hopefully we will get the Q1 results as well.

Consuela ref your 17.32 post as things stand I am comfortable to remain invested here and might even increase my holding. Before you ask the reason for this is the fabricating capacity at the various shipyards will be needed in relation to the various windfarm developments in view of the need for local content. The Arnish yard is inline to benefit from the Stornoway Deep Water Terminal project. The recent docking of Queen Victoria is suggestive of possible Cruise Ship work something I will be keeping an eye on. The most significant factor is that 5% of the company shares are held by a Scottish investment banker apparently in his own name. He would not have invested without doing his due diligence and if he is willing to invest such significant amounts of his own money that is a clear indication of his views on HARL. I note that at least half of that holding was bought this year.

Comsuela Your 16.31 post is based on the assumption that everyone on this board is invested because of IslandMagee. That is not the case. Some like me are invested because of the Shipyards. If you notice I post mainly about the shipyards not IslandMagee.