Member Info for swizz

ps, I think the majority of your post is exactly why Alan's tenure was compromised and whilst he was very evidently a decent and dignified person, it is very understandable he lost the confidence of the major shareholders, through the lack of meaningful progress, but I would be less inclined to consider this a fiasco or negative at this stage, I am more biased towards thinking this signals that the strategic review is nearing completion and those that have been approached to support financing, have sent a very clear message that the business needs to be under new CEO stewardship and I would suggest before anyone makes final judgement they should await the outcome of the strategic review and the appointment of the new CEO,....GL SA

I would imagine a number will probably consider this is long overdue, considering the SpotOn debacle and it is difficult to believe that Alan would have retained the support of the major shareholders considering that fiasco and the lack of meaningful progress, plus taking into account the calibre of the new board and the immediacy of the resignation, I would suggest the board know exactly who their preferred choice is and rarely do these situations evolve without a succession plan being in place,

I don’t believe we will be waiting too long before we find out who the new CEO is going to be, hopefully this also signals a more robust approach to the companies communication,…GL S

It is circa 4% of the companies equity, so there is a possibility we may get an understanding of the buyer at some point,…GL S

Good to note a decent debate developing on the forum and the term "U turn" looks as if it is going to be even more topical in the EU in the months ahead, in light of the ludicrous energy security policies adopted by a number of the member states and in response to the gas stranglehold that Russia has been gifted by Ireland and many others, as an interesting strand of conversation is developing within the EU, in response to the escalating energy crisis, which may add further incentive for the Irish government to develop/support its own indigenous gas reserves,…GL S

“Commission to ‘explore potential benefits’ of member states jointly buying strategic reserves of gas”

“The European commission outlined measures on Wednesday the EU could use to combat surging energy prices, and said it would explore joint gas purchasing among countries as a way to cushion price spikes.”

“Record-high electricity and gas prices this year have curtailed industrial production and hiked consumers’ heating bills, prompting 20 EU countries to draw up emergency measures, including energy tax cuts or subsidies for poorer households.”

“The EU’s executive confirmed those national responses are allowed under the bloc’s law, and mooted co-ordinated responses that would take longer to launch and address future price shocks.”

“The commission will “explore the potential benefits” of member states jointly buying strategic reserves of gas, it said. Countries’ participation in such a scheme would be voluntary.”

https://www.irishtimes.com/business/energy-and-resources/gas-reserves-subsidies-and-tax-cuts-the-eu-s-tools-to-combat-energy-price-spike-1.4699312

Indeed, interesting to note that apparently all of the Green Party voted no in the recent defeat in the Dáil, of the Planning and Development (Climate Emergency Measures) amendment bill, at the second stage, it would have halted development of data centres, fossil fuel infrastructure and LNG infrastructure, the count was 81 no votes against and 50 yes votes, hopefully it’s an indication of some common sense returning,…GL S

Good news and perhaps a decent indication that DECC are in the process of finalising the Petroleum licence, as the last round of clarifications were in April, so the timing feels about right,…GL S

Perhaps Fodere? or even more details on the plans for Mocidade?,...GL S

Agreed,...GL S

"New gas-fired plants crucial to State avoiding electricity supply shortages"...

"The next problem is “messaging”. As the Government has focused heavily on the target of generating 70 per cent of electricity from renewables by 2030, it has ignored the other 30 per cent, which will be gas, which now provides about half our power."

"In fact, Don Moore, former managing director of ESB International and a member of the Irish Academy of Engineering, points out that out consumption of this fuel will not fall much at all, even if we hit the 2030 renewables target, because our climate plans mean we will use more electricity, as it will power transport and heating along with everything else."

“If we hit the 70 per cent renewables target, will still be using 80 per cent of the gas that we now burn to generate electricity,” he says. Moore, who stresses that the academy stands “four-square” behind the Government’s climate plan, argues that no one has made this clear to the powergen industry."

"He remarks that is only in recent weeks has he heard Ryan publicly acknowledge the role that gas will continue to play in future electricity generation. Moore predicts that will be the case for decades, as alternatives are still in the early stages of development."

"However, Moore maintains that data centres have become whipping boys for a series of broader problems. The debate and “hysteria” sparked in recent weeks about their impact on electricity supplies, he argues, is down to a lack of information from the Government about its climate ambitions and their implications for our energy system."

"It is the Government and not agencies such as EirGrid who should be taking the lead on all these issues, he maintains. The responsible Ministers must “treat Irish people like grown-ups” and explain all consequences of the climate plan clearly, including the need for gas to back up renewables. “The whole climate programme is well-intentioned, but it’s riddled with fudge,” Moore says."

https://www.irishtimes.com/business/energy-and-resources/new-gas-fired-plants-crucial-to-state-avoiding-electricity-supply-shortages-1.4688054

Reality is starting to set in,…GL S

“The Environment Minister Eamon Ryan says Ireland will need fossil fuels going forward.”

Minister Ryan told Newstalk Breakfast it will be 'tight' for the next several years.

"We will need some fossil fuels, and we'll need them to back up the renewable power that is going to dominate our electricity system and our economy.”

"Those fossil fuel plants will be turned on when the wind isn't blowing or the sun isn't shining.“

https://www.newstalk.com/news/eamon-ryan-ireland-will-need-fossil-fuels-going-forward-1258041

“INTEL PROVES: EVERYBODY BUT THE IRISH KNOWS OUR ENERGY POLICY IS FARCE“

“The Green Party wants Ireland’s electricity to be generated from renewable sources. It believes that peat and coal power plants harm the environment. So, the logic goes, close them down, and get our electricity from the wind, and the waves, and the sun, and, if all else fails, buy some electricity off the British and the French, who have the nuclear power plants that Ireland could never countenance because, well, not in our back yard.”

“The problem with that policy is that the wind does not always blow, the sun does not always shine, and the tides make installing tidal energy systems exceedingly expensive. Everybody else in the world knows this. In Ireland, having banned peat extraction, we are now importing peat from overseas. Again, the world looks on and marvels at the folly. The Green Party, and the Irish State, alone, apparently do not know or notice. Or, perhaps, more accurately, they know and do not care. Appearing to save the planet is more important than keeping the heating on in wintertime, in that view of the world.”

https://gript.ie/intel-proves-everybody-but-the-irish-knows-our-energy-policy-is-farce/

Perhaps there is some method to the ongoing silence, as it is looking extremely bleak for industry and consumers,..GL S

“Europe Faces Bleak Winter Energy Crisis Years in the Making”

“It could get very ugly unless we act quickly,” Snam CEO says

“Green push has meant years of underinvestment in fossil fuels”

“Faced with surging gas and electricity prices, countries from the U.K. to Germany will need to count on mild temperatures to get through the heating season. Europe is short of gas and coal and if the wind doesn’t blow, the worst-case scenario could play out: widespread blackouts that force businesses and factories to shut.”

hTTps://www.bloomberg.com/news/articles/2021-09-18/europe-faces-bleak-winter-energy-crisis-years-in-the-making

The current situation in the European natural gas markets, is capturing the attention of the UK media and government, Ireland’s turn next?, plus interesting to note that European gas prices have risen sharply again at the end of the week and Dutch TTF posted a 4.6% gain, just below the record high of earlier this week and European gas is now trading at the equivalent of ~$22.5 per mBtu (that's ~$130 per barrel of oil equivalent), it certainly adds a different dynamic to the Barryroe economic model, …GL S

“Gas price rises prompt urgent government talks”

“Natural gas prices are at record highs as economies around the world begin to recover from the Covid crisis.”

“In the UK, lower winds have meant less renewable energy is generated. There have also been outages at some nuclear stations and lower flows into the UK of natural gas from Norway, pushing up the price of natural gas.
It is understood the discussions with senior figures from the UK's energy sector were requested urgently.“

hTTps://www.bbc.co.uk/news/uk-58605735

Brilliant to see the developing market recognition of ValOre and hopefully this will be sustained as the expansion of Pedra Branca and Angilak progresses,…GL S

A decent appointment and a very well connected person in oil and gas, it will be interesting to see if this is a precursor to Seacrest taking an interest in Barryroe via Lansdowne?,..GL S

Bf, I am mindful that there is probably no one who posts on this discussion forum has any direct experience of bringing a mine development into production, so to some degree I would be somewhat sceptical of any thoughts shared, that said and fwiw, I would suggest the time line change should be considered as an extremely positive development, as what it may indicate is that the Jangada board are now in a position whereby a number of the key contracts have been negotiated and secured, relating to the supply of machinery and excavation contractors and as a result the board now have a more detailed understanding of the production timeframe,

I am also mindful that any market release undergoes significant scrutiny from those that are responsible for market rules and regulations and as a result of contracts perhaps being secured?this may also have some bearing on the time line change?, the fact that we are actually debating production in Q1 or H1 in my opinion is a remarkable achievement by the Jangada board and their technical team on the ground, …GL S

Ob, one possibility is that they are part of a leveraged position and the settlement terms are being extended on each of the trades by an accommodating broker, which would perhaps explain why they are being rolled over on a regular basis,…GL S

f29, that is my reading of it also, I am mindful it creates a lot of conflicting opinions, as it can be perceived as being generous, So I believe it is positive for shareholders for the reason you outline, plus it also provides a cash route for the company, without the necessity to go to market and ending up with unknowns and placing vultures and it is directly linked to two key milestones, which when completed will be transformative for all shareholders,

I would also reference that the Jangada board have been very diligent to date, in regards to cash retention, disciplined remuneration and most importantly equity dilution, I don't see this as a signal that they are changing their approach, unlike many others who frequent the junior AIM market with their lifestyle companies,...GL S

I would suggest that coal will be the prime focus for the foreseeable future with politicians and governments of influence and despite the chaotic noises from this discussion forum, the majority of those governments will recognise that O&G will still play a vital role in the more meaningful transition and development plans, …GL S

TW, I would confess I have only taken a high level review of the IRR deal with Piedmont and as well structured as the deal appears to be for both parties, I don’t feel at this stage of the Pitombeiras development, it will be a pathway that Jangada will follow, I would suggest we are more likely to see a JV/Partner being brought on board further down the development pathway, when we look to transition to a full mining licence and a higher capex production model,

At this stage I would suggest Jangada will have multiple options to fund the TML and low capex production model, without divesting a material part of the project equity and certainly the board have demonstrated to date, that the monetisation of Pitombeiras with very minimal dilution has been the preference, I would suggest an offtake agreement at standard market terms is more likely and it will still ensure Jangada are in a very enviable position of having multiple development and exploration options available to them,…..GL S

“Even in the face of outages at a number of gas-fired power plants, gas continues to provide an important foundation for electricity generation and back-up to renewable energy when required.”

https://www.irishtimes.com/business/energy-and-resources/gas-demand-up-substantially-across-all-sectors-this-year-1.4634640