Member Info for tidd83

Good luck rebuilding a sizeable position here.

Spot on Eye. More cash available.

Spread is much tighter than quoted.

JW opting to take remuneration as shares.

5. Acle - potential JV on this nice, very interesting North Sea prospect which may be derisked to an extent due to its situation between three existing production fields. Let’s see, BL did a good deal bringing this one in on good terms 6. Selva - commercial has discovery in Italy which was drilled last year. Awaiting approval of development plan and once that is through it is merely a case of piping the gas into existing infrastructure. The development plan approval also expected this quarter and we could be producing here by late 2019 / early 2020 (conservative estimate). Around $2m a year net to UOG and gas prices are rising - put the asset on a forward multiple of say x6 and we are looking st potential takeover valuation of $12m - underpinning now the value of the company ! 7. East Selva - gas structure next door and believed to be x5 size of Selva. Can piggyback off existing infrastructure and to be drilled later this year. There’s also the rest of the UK portfolio including Waddock Cross which is a development drill following appraisal of a discovery. Not too far from Wytch Farm either New deals - delivery was mentioned previously but see all above is and as Brian keeps on stating, when the company IPO’d they have two assets, he has delivered a hell of a lot more now with 7 in the portfolio now and activity lined up. If one doesn’t come through then onto the next. He’s stated very recently that they are reviewing a number of exciting and potentially transformational plays, just have to leave them to it. He has also referred to the deals which they nearly did and provided reasons why they decided not to do them. I’d expect an update with regards to what’s going on here in the near future but based upon previous form - has Brian ever not delivered upon deals when he has said that he has been working on one? Also seems to be particularly excited about these citing that they are transformational and production has been referred to several times. I’m certainly excited.

Sharing below; One of my points is that there is a shedload of newsflow stacking up for this quarter and as bums are back on seats so to speak then this is the perfect opportunity to begin to close the huge valuation gaps which I (am presumably most of you perceive here). This stock is really tight and it just needs the volume now. Would like to get our deserved rerate before the short term punters come in for Colter too. There’s a hell of a lot of other potential newsflow here: 1. Colter (drilling of an appraisal well at an existing discovery immediately after Wick) 2. CPR for Crown which will allocate a higher degree of confidence to numbers of hydrocarbons on the asset and also perhaps push on any JV opportunities which they have been working on. The value of the oil in place certainly rises. 3. Jamaica CPR - first results of seismic should be due soon (this month?) and UOG along with Tullow are going to be able to tell the market exactly what they think that they are looking at with Jamaica and specifically the Colibri target (I then think that there might be follow-up CPRs for some of the other 11 targets). This is going to be massive news. We need to make sure that the market appreciates the opportunity that lies ahead of them now 4. Jamaica JV / Farm-down - existing arrangement is with Tullow in a 20/80 split. The JV efforts are already underway but the juicy CPR data is what the other super-majors and majors will have been waiting on. I am sure that they have already reviewed all previous data. What we are looking for here is a deal with Total / Repsol / BP / BG / Exxon / Galp who are already quite active in the region and whom we expect would pay big bucks to get a seat at the table. Bus Dev / JVs and deals exactly what BL used to do previously at Tullow so expect him to have a leading role in these discussions. Let’s get that CPR data out first though!

All good here thanks NE, hope you are well also? Hopefully an update shortly around progress on the horizontal drills. Vertical and top sections complete and some positivity around the RFP (although still only one route) and the market will wake up. Plenty of gas available, looking forward to the future revision and CPR on reserves as well as a remodel to realculate contingent resources.

That is true Manyana, traders will seek to make profits to increase position sizes ahead of any rise. Conversely however it is not always a given. The free float is small here so to buy in size is fairly difficult, consistently NT and moves on little volume. If there is demand the price will move up quickly and, those who may have made a pretty penny elsewhere (if they were lucky) end up paying more when the bottom was been lifted thus resulting in a decreased position size. Always best in my opinion to buy the bottom of stocks when interest is minimal and be patient. I will continue to add.

All about patience, company doing their thing and wells coming online shortly. Whiff of the RFP and happy days..

At the end of the day let’s look at this in its basic form, whatever way you cut it £10m is a ridiculously low valuation for a stake in an asset of this size and it’s only a matter of time as drilling approaches until this will correct. 34mbo at 2C net which has already flowed and due for appraisal later this year. Fully funded multi well campaign with a large partner who has already injected $19m upfront with a further $180m expected to cover cost of initial agreed wells even outside of the additional and optional horizontals. Barryroe is a discovery so risk is much less than wildcat exploration, the discovery also excludes additional acreage and other untested horizons which could see the discovery potential quadruple. Major holdings including house broker, BOD equate to over 50% of free float. Low running costs and warrants in place with major holders to easily fund company into drill with minimal dilution and alignment with all holders. At £10m you are currently buying a stake into the resource at around 30p per barrel. Yes please.

https://www.thetimes.co.uk/article/barryroe-oil-field-to-raise-a-slick-3bn-in-taxes-for-exchequer-9306rfx2r

Longwait, that’s ok - just gives week by week opportunities to keep increasing. Factoring in the below, the deal has gone ahead and on better terms than was initially communicated. I know which side of the fence I’m on.

Eyeguy yes I think there will be some conversions involved, on the flip side it injects further capital into the company. Volume is key here and is clearly increasing, it shows the awareness to INFA is growing. Given the significance of the next few pieces of news in the pipeline I would certainly expect to see similar uplifts.

This is the nature of O&G. These things are a-typical of the sector and more so for UK and EU targets. I think both Irish and Chinese governments are well aware, this was after all given the green light by both.

Ajed the legal challenge has zero baring on the companies. New application has already been made. Not sure what negatives you are reading but none that I can see.

Get the loose hands out, all part of healthy consolidation before the next leg.

John potentially and such an offer could materialise however better to proceed and continue to add value by progressing the project daily. The clear need for the storage facility is evident and with the closure of Rough it only adds to demand. Very fortunate and favourable turn of events.

I think given the number of parties keen to already move into exclusivity arrangements and the fact a further proposal was made in mid December then a very favourable deal could be garnered for INFA and it’s holders. JW and the team are very much aligned given the amount of capital they invested by buying stock on market. If the grant funding is successful (I have no reason to believe it won’t be) and debt is arranged (and as stated backed by UK guarantor scheme) then there is no reason why a large percentage of the initial two caverns couldn’t be retained. Phase 2 for the further 8 caverns and potentially phase 3 for a further 15 could see INFA retain even larger stakes given they will be cash generative which makes perfect sense when staging the project for development. This also excludes anything on or above what we already know, twinned pipelines, LPG optionality and any other projects on or above Islandmagee aren’t even being considered at this stage. We have seen the calibre of the board, the way they operate and deliver and with such stakes in the company I have no reason to doubt they won’t continue to do so - in my view the company valuation has a long way to go and there are plenty of short term catalysts (as listed below) to help this on its merry way.

Some of the bigger news we have to look forward to in the near term; (feel free to add to the list) News on grant expected in the coming weeks for upto £40m. Potential for further offtake news with a LOI already in place with a blue chip with five others at the table. Financing news around equity/debt at project level of which there are again multiple parties interested and already requesting exclusivity arrangements. Land application update in regards the identified area to situate a further 15 caverns above the 8 already planned.

JW has touted around 10p targets so I don’t think he’s overly concerned with his sizeable investment.