Member Info for Yanis2005

EchDelta, you are not worried?

If the 1st gas slips back again do you know what is likely going to happen?

IMO, we will be hit with another placing before we see gas! Another placing and any prospect of recovering our money (never mind making money) will be lost.

Time to get real here. There should have been a lot of activity at SFB right now … and there is nothing happening … nada, zilch.

The gas engine was supposed to be at SFB last month … and yesterday we saw a 3-second clip of an engine been refurbished. Yes refurbished … not delivered … not even ready for delivery!

Utterly unacceptable. Looks like that these guys cannot even organise a **** up in a brewery! I am beginning to get really annoyed now.

We really need to see the plan. They should have advised us of the plan already - they had an original plan that was first gas in Dec, then revised to Jan, then Feb, then mid-March. It does not take much to adjust it and inform us.

Last month they advised they will let us know in November and today is the 15th of November, why does it take so long if it was a case of a simple revision?

Looks like there are real issues here … I can smell the Brockham stench now. Getting worried now.

We should start asking Angus about the SFB plan on a daily basis.

The positive is that the 2.8/3.0p support level is holding.

Hopefully, these Large sell are the last of the seller, but then again I thought that before.

Frustrating, but personally, I would not sell at this level - is a very very strong support. Sellers so far stop here and are not willing to sell lower.

Mini TU in a couple of weeks if last year’s template is followed. Fingers crossed.

From the 11 August RNS:

“Power generation with Caterpillar gas engine using fuel gas from the production process has been ordered. Electrical switchgear is included in the order. Delivery to site is in October”.

The “gas engine” is for power generation and according to the RNS is Caterpillar make and was to be delivered last month.

The compressor (from the US) was to be delivered this month (15th? Today?)

Nothing has really changed, we are still in the dark.

HITS, fully agree with your 10:44 post.

That Brockham catastrophe feeling is slowly been resurrected. Beginning to smell the stench due to Christmas shenanigans before the Brockham nuclear bomb was dropped.

I am beginning to get very uncomfortable again! There is really no excuse for this lack of activity. Angus already confirmed via IQ that they do not need the EA approval until they are at the point where they need to introduce gas. A lot should be happening now if there are no real issues.

This lack of progress at SFB is completely inexcusable.

A big sell … 1.3 mil @ 2.80p

I blame the caveat on CBD launch for this drag on the SP. It wasn’t prudent in my opinion.

Hopefully next TU will cause the SP to change direction.

I just submitted the following IQ:

“Civil Works

We haven’t seen any evidence of civil works starting at SFB. Concrete foundations will be required for the equipment and ISBL pipe work.

Equipment (power generator & switchgear) was planned to arrive in October, Separators storage tanks & ground flare was planned to arrive this month (November), Gas compressor also in November - see 11 August 2021 RNS No. 34411.

Having all the necessary foundation completed will save time. Can you please clarify as to whether the civil works have started? If not, why not? Thank you.”

Is this the week we are going to see equipment at site?

It better be, but why hasn’t Civil work started yet?

Concrete foundations must be laid for the equipment. This should have already been done!

We can’t just stop producing oil & gas, there has to be a transition, else is blackouts. It will take a fair number of years.

EchDelta, this is why I keep banging on on equipment delivery. No equipment in November … leads to no 1st Gas in Feb/mid-March … simples.

Mirasol, I know all about Corrib, I worked at the Gas Plant at Bellanaboy Bridge Co Mayo in 2010/2011. The locals were objecting whilst working at the gas plant - crazy situation.

Shell had to drill a tunnel (yes a tunnel) from the sea shore to the plant at a cost of £90 mil to lay the pipes in. They were not permitted to lay pipes overground.

Another share that I own (EOG) has interests next to Corrib and is awaiting for a licence transfer for a while now but I am not holding my breath on this, given the article that I posted below.

Back to Angus now, we need to see equipment on site at SFB by Monday, else we are making noise.

EchDelta, interesting post.

But they can get away with it because nothing is happening with these companies. Generally the SP is not going up because nothing is happening.

Nothing is happening here with Angus at the moment … slippage on dates, EA approval … etc keeps buyers away. When they show the equipment and installation on site the SP will appreciate. So far all we get is excuses.

Down to 1.20p - has Wressle shut down?

FFS this defies reason. Frustrating!

Was just joking, SFB has all the permits but one, the EA approval of the variation to the existing permit.

We need to see equipment at SFB. If we don’t see any by Monday next week then we should start making noise on Angus door.

Slippage now worries me … Brockham is still fresh in the mind.

Need to hurry up with SFB before the below spreads to UK

https://www.independent.ie/news/environment/ireland-joins-alliance-working-to-end-global-oil-and-gas-production-41042717.html

Geeman, we are up. There has been some buying near the end with bid up to 3.10p. Fingers crossed it will continue.

Less than a month now to next mini update?

As far as respecting delivery dates, I am not sure if the general supply chain issues constitute “Force Majeure” for delivery of industrial equipment.

In any case, if the equipment is ready for delivery it will only be case of paying a little more money to entice a driver?

The equipment was due to arrive at site in October, so it would have been ready for pick up and delivery early October. With all supply chain issues considered, it should not cause more that a couple of weeks delay - so it must arrive at SFB in the first half of November at the latest.

Unless the equipment arrives on site, an update and a clear and transparent explanation of why this equipment is not on site is needed by next week.

Serif, I know but it would be nice though to see some life out of our BOD.

I don’t believe that we can compare our selves with UJO and EGD. EOG has far better, far richer assets away from Wressle. UJO/EGD have problems with their other asset and not to mention the recent UJO placing. EOG financially is in better position (bar that acquisition they keep flouting inducing doubts on placing).

I believe if EOG does issue an RNS on Wressle revenues and clarify funding of this fandom acquisition they are talking about (which now appears not to be imminent) the SP will rerate. Current low MCap versus Wressle revenue alone is not justified.

Going to slide down again! There is effectively no buying interest and no volume. Frustrating.

Dummy quotes

Buy 250,000 @ 1.455p
Sell 250,000 @ 1.35p

Bid 1.4p … Ask 1.5p

Why isn’t there a Wressle update on cash received so far? Surely this will generate interest. Where is the PR? Do we have a zombie BOD?

Morning BV, We should be asking. If we don’t see equipment arriving soon then IMO the now mid-March deadline for 1st gas will shift in to the future.

I know they said they will release the detailed plan in November, but where is it? Why can they nor release it now? This plan should have already been made long ago and if necessary (i.e. supply chain) adjust it as they go along. If they are preparing this plan now from scratch then there is no hope.

In any case, the orders for equipment were placed long ago and funds for this have been released. Orders firmed along with firm delivery dates and it is normal in this industry for penalty clauses to be included. If equipment is not delivered by the agreed time then penalties kick in (unless there is Force Majeure) and the Vendor looses money, not to their interest to miss delivery dates. I assume that Angus would have been prudent enough to include these penalty clauses in the supply contracts.

We need a very detailed, clear and transparent explanation as to why equipment due for delivery to site in October is not there yet. We should insist on it.