Member Info for tidd83

Richard Sneller also moving above 4%

I don’t think so Setanta, it would make no odds unless they wished to lodge a bid for INFA in its entirety. A take over of course is certainly not unlikely.

Very true MrT - much can be said about many a government! Older, if the grant was forthcoming I would see a scenario whereby INFA could hold majority stake of the project. What will be interesting is if offtake negotiations are proposed in the near term which may shed light on how the later structure will look. There will be an equity component at project level as alluded to by previous RNS, statement below; “Detailed discussions continue with construction financing providers in respect of Project level finance. A number of providers have expressed a conditional interest in taking a substantial Project level equity stake in Islandmagee's construction financing, subject to completion of due diligence and terms being agreed.” The valuation ascribed will likely fund a large portion of the work and offer a significant uplift in NAV. This however is only for phase 1 and a deal may be structured as so ergo, phase 2 and phase 3 could potentially be self funded by INFA based on revenues and with substantial collateral behind them. Either way, it is all very exciting and at £6m there will be significant upside as pieces of the puzzle come together. As we know, FEED is almost complete.

So having read the RNSs again with fresh eyes I personally am more than happy to sit back and continue to let ARS progress. The delay to the BFS is short term news, the company are likely funded until the end of the year as things stand however a raise will likely be required to carry out the expansion drilling. Since ARS use a number of their own rigs then costs will not be too demanding and historically any raise has been on or around market price. Raises are typically backed heavily by the board and also at an institutional level so I do not see this as any concern if the end result is to improve economics of the BFS and also to expand the existing resource base. A key note that stands out from the Beutong drill result (without stating the obvious excellent grades) is the following statement “As such Asiamet is evaluating various options including partnering to test this deeper potential and more rapidly progress the development of Beutong in the near term." BKM has always been an impressive side story and a quick route to finance exploration of Beutong. In my view the strategy is now likely to partner for Beutong and move more aggressively ahead whilst the rest of the KSK assets remain under the wings of ARS - we shall see. In the wider market the copper price has been suppressed, since their is a clear and growing deficit a receding commodity price can not and will not be sustainable. There are few mines coming online to satisfy demand and at some point this will have to correct, it is inevitable that in the medium to long term copper prices will have a huge rally. With the above in mind then I would agree that the delay is warranted, daylight more resource and allow the cyclical commodity market to correct. In the mean time the assets continue to deliver and largely above expectations. The share price slump is a momentary reaction - one only has to look at the M&A activity in the sector, this alone tells you all you need to know.

Older, in regards point 2 on your list. Any equity based funding will be done at project level not at company level. If the grant is approved for which they have a strong case then it could be that INFA retain 100% of the project. Even if you factor in some let up their is a significant need for this project and it’s a hot topic at government level.

https://ec.europa.eu/energy/sites/ener/files/documents/annex_to_pci_list_final_2017_en.pdf

Wouldn’t worry too much about short term movements. The board are closest to the project and are happy to sink in £350k on open market. All things are moving forward as expected, ahead of schedule and under budget. Financing, offtake agreements and further milestones also expected in the near term. Not an awful lot priced in at present given the progress made with Islandmagee and the calibre of recent board appointments.

PMSL? Are you 2?

Look back over the last 20-30 posts. You are spamming the board. Give it a rest.

It’s impossible Phoebus, the easiest way I’ve found to date is leaving FoK orders for £500/£1k sizes and buying tranches to build further. Anything above has just been rejected

Some good reading on Shells O&G history in Trinidad and Tobago. Some interesting points referencing the Ortoire blocks and production figures. https://www.shell.com/about-us/contact-us/contact-trinidad/_jcr_content/par/textimage.stream/1519761820323/45cd912da5d64480c76b3d99055a8655c1c520cee6c3ccdbbdc48c6db500f8bd/shell-trinidad-100-years.pdf

Order filling?

I got a couple of small orders filled on the drop for top up but there it’s impossible to demand a quote. Just drip feed in £500/£1k blocks when the price is right seems to do the trick.

PTP good summary. I firmly expect to close out the 2018 program (inclusive of the additional 6 wells) at around 2250-2400bopd. That puts the company in good stead for 2019 especially with the added bonus of Brent pricing. I did wonder around the gas in place, perhaps a trillion cubic feet or half? So 300mbo and 500bcf/1tcf gas in Ortoire. Twinned wells and likely low risk. I would raise your target far north of 50p if any of these come in. That would be a material step change all backed on with the 15 development wells which again will likely take total production for the year to over 3000bopd. If Ortoire comes in which I am confident it will do then the company won’t be valued at £25m as it is today or even £50m.. you could multiply the latter hence why PB is clearly excited and I more than share the enthusiasm. Delivering on all angles.

With Paul Baay https://www.youtube.com/watch?v=HuWkkApUsWE&feature=youtu.be

Photo it did well to close blue given the wider market. That said, little of yesterday’s good news has been reflected in the price. Very happy with progress to date along with the programs scheduled going forward.

Well ahead of schedule and already over their first milestone of 2000bopd, pushing on to 3-5k at which point dividends may come into the picture. The significant point around Ortoire is key, 11 well locations identified and likely the early targets will be low risk previously drilled in the 70s with gas identified. The size of these targets based on the similarities to Carapal just down the road could see production total double on a single well. Excellent update and an exciting Q4 and 2019 to look forward to. Brent surging is just the cherry on the cake.

Older cash won’t be a concern and the loan in my opinion will likely be extended as per previous agreements. LC as largest share holder is unlikely to put any pressure on given they themselves have a stake of around 29%. Cash is of no concern even a raise of £500k isn’t worth sweating over and will put LOGP in a position to run on for another 12-18 months.

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Older it doesn’t matter, it’s £50k. What is clear is that with BH already holding 15.48% of the stock they are clearly supporting their own investment and in turn the company. £50k is here nor there on whether they hold or sell but it’s a nice bolster to the companies cash position. If they sell it will be managed appropriately, do not forget they bought on market only two weeks ago around 1.7p to take up a further 1.1% of stock which was around £150k at the time. Warrants being excercised in a controlled manner will keep the company in a steady supply of cash, allow the share price to rise and not be subdued and also add support to their own large investment.