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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Energypathways Plc | EPP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.15 | 2.13% | 7.20 | 16:27:07 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 7.05 | 7.00 | 7.20 | 7.20 | 7.05 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
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Posted at 05/2/2025 09:42 by jaknife I doubt that any cash was ever paid to EPP. It will just be a fee that is now owed by EPP to GGAF. There is something seriously wrong with the whole GGAF loan, it's best explained by this investigative reporter on twitter: |
Posted at 04/2/2025 23:16 by jaknife jackjackpaul,"A great write up on EnergyPathways #EPP by @that_stocks_guy (charles arthur)" He completely fails to mention the nitrogen issue. It's the key reason why no one has bothered to try to develop the reservoir for 32 years (Marram was first discovered in 1993). Nitrogen is an inert gas and 45% of the reservoir is nitrogen. Whilst it can be removed, it's expensive and makes the economics of the deal hopeless. JakNife |
Posted at 04/2/2025 11:24 by belcourtoi If you are struggling to value EPP MESH project! Here is yet another solid exampleBack in 2007, Petronas submitted a takeover offer of £340 million ($706 million) for Star Energy, a UK-based gas storage company. Star Energy's gas storage capacity is 10bcf, with a potential offshore gas storage that can hold up to 150bcf#EPP MESH project boasts a significantly larger capacity of 50 billion cubic feet (BCF). that can be trippled to 150bcf with Knox and Lowry.£340m back in 2007 is equivalent to £642m tpday for a 10bfc onshore asset (150bcf offshore).The above example underscore the lucrative potential of the MESH project, indicating that #EPP should rightfully hold a much higher valuation. The story is just beginning, and the share price is expected to rise further as more news and updates land. |
Posted at 04/2/2025 09:34 by jaknife findingways100,"Jak regarding about what you said from speaking to the board and the potential large capex increase does that explain why funding is taking so long? did you speak to them about that?" There are two "fundings" that need to be considered. 1. Funding for the project Nothing is going to happen on this until sufficient progress has been made on scoping out the project. So we need the Wood report and probably the FID as well. EPP will need bank debt of c. £70m and equity of c. £30 to cover the total expected capex. 2. Funding to cover ongoing losses EPP will only have had about £1m of cash at December year-end, which won't be enough to get them through to FID. They'll need to raise fresh equity at some point and/or spike the share price and get some more of the warrants exercised. Overall though, the funding will take long (probably never) because the project is nuts. No one in their right mind would extract gas from a field that contains 45% nitrogen. Which is probably why the Marram field has been ignored for 32 years since it was first discovered in 1993! JakNife |
Posted at 18/12/2024 21:22 by jaknife Belcourtoi,Are you Tony Blair? It's just that you seem incapable of writing anything without massive spin in it? "You can’t compare the two! Energy Pathways has applied for their license and requires a significantly smaller amount of funding to kick off their project, which includes gas production that will generate revenue, along with gas and hydrogen storage." There are two projects, which EPP refer to simply as Phase 1 and Phase 2. You can "kick off" a project with as little as 1p but the estimate to complete Phase 1, as per the CPR, contained in EPP's AIM Admission document is £72m. It's on page 104: Phase 1 is all about removing the gas from the existing reservoir and selling that gas. And there is no Phase 2 (the gas and hydrogen storage) without the £72m first being spent on Phase 1. However, there are multiple problems ... Phase 1 1. Firstly EPP need to raise the necessary £72m of capex, of which a minimum of 30% needs to be fresh equity. That would equate to about £22m, which is a lot for a company whose last balance sheet showed net equity of just £1.5m. 2. EPP need to convince investors to support the project, bearing in mind that the Marram reservoir is 43%+ nitrogen. This makes extracting the gas intensely inefficient. Who would want to extract 100 of gas only to then discard 43%+ of it? I would suggest nobody and that's most probably the reason that no one has bothered to develop Marram in the 31 years since it was first discovered! 3. This puts Marram at a strategic disadvantage to numerous other proposed gas storage projects, where the reservoir is either nearly empty or closer to 100% Methane. Those other projects are the ones that are more likely to get executed, whilst Marram is unlikely to ever get off the ground! 4. Whatever, EPP have explicitly said that they are targeting a Final Investment Decision in Dec 2025 and so you are premature with your excitement! Phase 2 We haven't discussed Phase 2 because it's so obvious that Phase 1 is never going to happen but, just for the LOLs, let's just go through the absurdity of Phase 2: EPP propose to use wind power to generate electricity in order to split water into oxygen and hydrogen, then pump that hydrogen into the reservoir for storage to then pump that hydrogen onshore where it can be used for, amongst other things, to generate electricity and as a replacement for electricity! Why not simply just use the electricity from the wind power? It's so clear that EPP's project doesn't pass a common sense test ... but the irony about common sense is that it's exceedingly rare! JakNife |
Posted at 16/12/2024 19:44 by jaknife Belcourtoi,This is all pie in the sky. Nothing is going to happen for twelve months, as the company announced on 9 Dec: “Targeting Final Investment Decision ("FID") for MESH at the end of 2025” Because, as we all know, the existing gas has to be pumped out before any other gas can be pumped in. And, hence, Phase 1 must complete before Phase 2 can commence. And Phase 1 can only commence once EPP have raised the necessary £72m of capex, as outlined in the AIM Admission document (and also on their website). And, as part of that, EPP need to raise the minimum 30% equity contribution, which would be at least £22m. But regardless, for the many reasons set out already, the Marram project is unlikely to ever get off the ground. The reservoir is 43%+ nitrogen, which means that it will cost a significant amount of cash to empty Marram as compared with emptying a normal gas field. This puts Marram at a strategic disadvantage to other proposed gas storage projects where the reservoir is either nearly empty or closer to 100% Methane. And it’s probably this huge nitrogen content that has meant that no one has bothered to develop Marram in the three decades+ since it was first discovered. You really should take a read of Peter’s expert opinion set out here: Detailed Report on Energy Pathways – What is my take on the technical side? (hint – its not looking good) It also highlights the difficulties with the gas price assumed in the CPR versus the current (lower) gas price, the forthcoming decommissioning at Morecombe South, issues with the tie-back and issues with the onshore open cycle turbines. It’s a dog of a project, whomever told you otherwise is a complete numpty! JakNife |
Posted at 16/12/2024 10:52 by jaknife Belcourtoi,Let's not let the hyperbole get too out of hand: "One of the world’s largest integrated oil and gas companies is apparently offering: - Gas storage capacity and long-term gas - Hydrogen supply - And, oh yes, let’s not forget the cherry on top: - "Provision of project development financing." * IF EPP can come up with £72m of spondoolies to pay Wood Group then Wood Group will fall over themselves to build whatever EPP want. * But Phase 1 has to complete before phase 2 can commence - ie the existing gas has to be pumped out before other gas can be pumped in. * Which puts Marram at a strategic disadvantage to other proposed gas storage projects because Marram's "gas" is 43%+ nitrogen, which means that it will cost a lot of money to empty Marram relative to the cost of other projects which are closer to 100% Methane. (This is probably the reason why no one has bothered to develop Marram in the three decades+ since it was first discovered.) * Regardless, EPP aren't even going to make a decision about Marram until c. December 2025 so there's no point getting excited about it now! JakNife |
Posted at 16/12/2024 10:09 by findingways100 Jak nails it, saying EPP need a lot of cash is not controversial even EPP are open about this"I think that Belcourtoi accepts now that EPP will have to raise £72m of capex for Phase 1 of the project and that at least £22m of that (30%) will need to be raised as fresh equity. His point is that this is a December 2025 problem" |
Posted at 02/12/2024 18:27 by belcourtoi If #EPP's application for gas storage was indeed lodged late, as the uninformed short sellers are claiming (yet on another misleading article)?Why have #EPP been called to a meeting with the NSTA just a a couple of weeks prior to DESNZ inviting them to collaborate on the Hydrogen Business Model? The article was released early October, and the DESNZ invitation followed in mid-October. DESNZ must have been informed by the NSTA about MESH and how incredibly good it is The plot thickens ?Article link: https://www.upstream |
Posted at 25/10/2024 14:53 by pwhite73 stockhunters - "yes but you understand epp are just a concept right? they do not have anything right now apart from CLN funding for working capital"I'm not convinced you have done any research you are just blabbering. MESH is the project EPP are progressing. RNS 19/08/2024 - "EnergyPathways (AIM: EPP), an integrated energy transition company, is pleased to report that it has submitted a gas storage licence application to the North Sea Transition Authority (NSTA) for its planned MESH (Marram Energy Storage Hub) project. The gas storage licence application covers an offshore area in the UK Irish Sea that includes the Company's 100% owned Marram Gas Field." You don't submit an application for a licence on just a concept. It will get refused. The NTSA want to see the project is for real with financial, technical and engineering support from third party backers. EPP has all these. Read the whole of the RNS. |
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