Member Info for swizz

I would not be surprised if one of the market makers is running a sizeable naked short, which might explain some of the chaotic noise on this board, as despite the denials, they do quite often stretch the boundaries of the exemptions they receive, ..GL S

Good to note the large print disclosure after hours today for circa £32k, despite the chaotic noise from certain individuals, it is encouraging to see the support,..GL S

The reality of foolish ideology is starting to bite in Ireland,..GL S

Revealed: Stark warnings to Darragh O’Brien on gas supply, electricity prices, data centres

Climate minister told of ‘major risks’ to energy transition

https://www.businesspost.ie/politics/revealed-stark-warnings-to-darragh-obrien-on-gas-supply-electricity-prices-data-centres/?utm_term=qf&utm_medium=social&utm_source=twitter

Mutual hand rubbing for Directors and shareholders,..GL S

Part 6..

It is a fudge to think we will import one single batch of LNG and simply leave it in the tanks for years to come for an emergency that may never come.

We need energy security and we need to be realistic about that. For practical political as well energy reasons we will need to import some LNG into Ireland.

Martin is right about that.

But surely it makes even less sense to maintain a block on anybody exploring for Irish gas in Irish waters, while buying in fracked stuff from Trump’s USA?

Part 5..

Europa has been trying to get funding for exploration of its Inishkea licence area close to the Corrib field. The licence for another promising prospect, Barryroe, was not renewed by the department.

O’Cathain stepped down as Europa chairman last week after several years in the post.

So, what is government policy on LNG storage in this changing geo-political environment?

The 2020 Programme for Government was quite clear. It pledged to end the issue of new licences for gas exploration and extraction.

And it stated: “As Ireland moves towards carbon neutrality, we do not believe that it makes sense to develop LNG gas import terminals importing fracked gas. Accordingly we shall withdraw the Shannon LNG terminal from the EU Projects of Common interest list in 2021.”

Part 4..

This raises a whole new question about our gas ­exploration policy. If we end up buying fracked gas, surely it would be better to have our own natural gas resources developed?

The Corrib gas field has supplied around 25pc of Ireland’s gas needs for many years, but it is running out. Europa Oil & Gas has an exploration licence on a location right beside Corrib, which in early assessments points to a sizeable find. The infrastructure is nearby.

But former Europa chairman Brian O’Cathain has been critical of government policy in the area of not issuing new licences for gas exploration.

Back in 2023, he prophetically said: “If domestic gas is not landed, Ireland won’t use less gas – but will increasingly rely on imports to plug the gap in the coming decades.”

Part 3..

A department spokesperson last week told this paper: “Work in relation to LNG is continuing as a matter of priority. We will return to the Government for a final decision on the optimum solution to secure Ireland’s energy systems in the coming weeks.”

Perhaps the Taoiseach wants to have something to deliver to the US president on St Patrick’s Day, along with the bowl of shamrock.

It makes perfect sense to have some kind of LNG storage facility in Ireland. But we have to decide where we stand on fracking. It might only make things worse, if we construct LNG storage and then buy non-fracked stuff from somebody other than the US. The US is now the largest exporter of LNG in the world.

The drive towards renewables is vital, but we’ll also need fossil fuels well into the future. If Ireland stores an emergency back-up supply, we will need to use it and replenish it, as it cannot sit indefinitely – unused – in storage tanks.

Part 2..

Meanwhile, Donald Trump is running amok, breathing fear into EU leaders everywhere that he will impose huge tariffs on EU imports if the Europeans don’t start buying more LNG and military hardware from the US.

We can have a go at buying some guns and equipment for the defence forces, but we may need to start buying some LNG too, if we want to keep the White House onside on bigger economic issues.

We oppose nuclear energy – but we import electricity from the international grid, some of which is probably made in nuclear plants.

The Department of Energy has been looking at ways of storing a supply of LNG for emergency purposes and this is now suddenly being described as a “priority”.

Micheál Martin said at the weekend: “We will have to have an LNG facility of some kind…The department were looking at a floating LNG facility. We will be looking at that and Government will be progressing that.”

Part 1..

Richard Curran: If LNG imports from the US are a ‘priority’, why don't we drill for Irish gas in Irish waters?

Taoiseach Micheál Martin has thrown a grenade into the debate about importing liquefied natural gas (LNG) from the likes of the US, in a move that is likely to make Hulk actor Mark Ruffalo “very angry”.

With the last FG/FF/Green coalition having shut down the idea of an LNG terminal for years, things are changing very ­rapidly.

The concern has been that imported LNG, which would enhance our energy ­security, especially in the event of an emergency, would most likely be fracked. Aside from environmental concerns, we don’t have anywhere to store the gas.

Environmental campaigner Ruffalo and many other groups have been opposed to an LNG terminal, and a planning application for a large facility in North Kerry was rejected some time ago. But last year, the courts overturned that planning decision on appeal.

Good to note Richard Curran talking common sense in today’s Sunday Independent and I am expecting to see more of this, as lobbying intensifies in the coming weeks,..GL S

https://www.independent.ie/business/irish/richard-curran-if-lng-imports-from-the-us-are-a-priority-why-dont-we-drill-for-irish-gas-in-irish-waters/a72587390.html

“Taoiseach Micheál Martin has thrown a grenade into the debate about importing liquefied natural gas (LNG) from the likes of the US, in a move that is likely to make Hulk actor Mark Ruffalo “very angry”.

“With the last FG/FF/Green coalition having shut down the idea of an LNG terminal for years, things are changing very ­rapidly.”

Agreed Battle, it is imperative that it is twin approach and that is certainly what is happening in the background and hopefully what we are seeing emerge in Ireland, is a government unburdened by the ideology of the Green Party and the appropriate decision for all stakeholders and Irish citizens is taken in the near future,..GL S.

Plus, I would also offer the thought that Ryan utilised a very dubious reason for the lease undertaking refusal, which was the financial calculations that were cobbled together in the financial capability guidance document, which carried zero legislative weight and were far from being fair and equitable.

Evening all, hopefully you are picking up on the importance of the housework taking place, as referenced by SB in today’s update, there is a meaningful purpose behind that and as I understand, we are making progress in a number of areas, I am also sensing we are measuring the time line in terms of weeks now, rather then months, …GL S

As I understand the situation, we are now approaching a month of two companies effectively being under the bonnet and you would think their due diligence is at advanced stage, so perhaps one is about to break cover and confirm an offer?,..GL S

“For clarity, the Company is currently in discussions with two parties, but is not in receipt of an approach from, any potential offeror at the date of this announcement. The two parties will now participate in the Formal Sales Process.“

Agreed, its good to note Sebastian is on the shareholders register, he is as shrewd as they come, in the small and micro cap sector.

Good post Takayama, my point was more in reference that anyone who has aspirations of securing the Enteq business will need to persuade all major shareholders that their bid and vision is one that will be supported, and whilst First Equity will indeed have started with different objectives, they ultimately would want to achieve a positive outcome and it perhaps a bit more than wheeling and dealing in a few percentage points akin to a day trader, … GL S

Agreed, a very positive development,

I would also be mindful that First Equity are in some sense a Trojan horse and their decision to sell a small percentage, having just secured circa 22% in as many days, this may be a strategic decision, especially if they have been approached by someone, as crossing the 29 per cent threshold at this stage, may not be an appropriate outcome.

From pink, back in Sept 24 and I would suggest there is some substance to these thoughts,..GL S

“Management have a decent amount invested here, success is very much in their interest.”

“The whole offer reads as transparent and honest and pleased to see an offer to already existing holders rather than those holding by some future date.”

“If IP value is to be believed, that's a conservative £18.8M alone.”

“I'm thinking along the lines of valuation responding as soon as it's proven the only bottleneck to profitable growth is the fleet size. If that happens they should have no problem raising to build a fleet of 50+ at a higher valuation than today and that could happen well before 2027 (needs to). It will raise the hackles of competition. The faster the fleet build, once proven, the more of a threat to the status quo. A trade sale exit looks very possible imho.”

The truth is AJ, I don’t know, but as an interested observer, it is not lost on me , that there are elements of this, which are very much premeditated by the board and to have two interested parties from the get go, is very encouraging and it should ensure there is a competitive edge to the process and one party may decide to take a preemptive strike with an offer to wrap up quickly, so my guess is this will be concluded in weeks rather than months, … GL D

I would also be mindful that the Trump administration is taking office in the US today and the new administration will be super charging the drill sector in months/years ahead and I am sure any prospective bidder will be acutely aware of that,..GL S

“Drill baby drill”