Infrastrata Share Discussion Threads

[bionicdog] 24/2/2010 20:35

How anyone could conclude that something was up from that tiny spike is beyond me.

[scruff1] 24/2/2010 19:36

lager
Wouldn't bank on it. It has been how this stock has moved over the last 5 or 6 years. Largish falls for no reason followed by largish rises for no reason.Strange thing but last night I e-mailed the co. saying how it was odd that the share price had declined by about 50% over the last few months etc. No rises and no comment from the co. Not had a reply but todays rise will do! I think the mm's don't quite know what to do. This was £4.00 a couple of years ago. It's undervalued big style now ..... if just.

[lageraemia] 24/2/2010 18:28

Eh-ooop!!

Something's afoot by the look of it. Sharp spike this afternoon - EIB approval imminent?

Good volume too.....

[mina123golf2] 21/2/2010 12:29

Kooba Many thanks for your post - with the passing of time I had forgotten all about the co-operation group - how many are in this group?? I seem to recall now the figure was 5!!!!! Oh for some positive news.

I have also added to my holding on lows but am reaching the stage of severe nervousness having bought so many.

We are all needing the input of EACN

[kooba] 21/2/2010 09:38

i believe that things are progressing.the whole finance package between the co-operation group putting in equity and the eib providing debt finance is interlinked [so no eib approval likely until the equity side is in place],though eib funding looks a give me in the circumstances.in the meantime i think every party is bound up in cofidentiality agreements so there are no indications until everything is signed.i have been in touch with the company but it yields little as they are legally barred from commenting.
since so much work and dd had already been done on the financing of the project one can only hope that the process is not too drawn out as everything always seems to be with this company.
the interims were on 20th april last year and can only hope that we have a confirmation or at least a progress update on the funding on or before then.
in the meantime i have been adding to my holding on this weakness as i still believe we have a very undervalued asset here i only hope the management are up to the task of negotiating shareholders an appropriate deal...some time soon would be nice!!!
would also like to hear eacn's thoughts as seems very well informed on the industry.

[mina123golf2] 21/2/2010 09:10

Infa seems to stumble on day after day - month after month with no finance news appearing. Larne is 3 months behind schedule and therefore I assume the planning application is likewise delayed. Does anyone know when we will have a decision from the EIB on the financing of the main project in Dorset?? The last posting on this by EACN (where is he??) indicated there was an 80% chance of success from the EIB but what is the time scale?

[kooba] 21/2/2010 07:47

Gas storage

Every little helps
Fixing the weakest link in Britain's energy infrastructure
Feb 18th 2010 | From The Economist print edition

[kooba] 15/2/2010 09:06

New £600m gas storage caverns will handle just five days' demand
A 30pc increase in gas storage capacity should result from a new development officially licenced by the Government today (Monday) but the £600m investment will only be capable of meeting five days' average demand

[scruff1] 11/2/2010 09:55

What makes me smile is that they can't seem to get one scheme funded so they go for another !!

[holism] 10/2/2010 16:23

All good stuff, but what about the funding? That is more important at this stage, the share price says it is still some way off!

[lageraemia] 10/2/2010 12:03

Today's RNS update on the NI project:

RNS Number : 9435G Infrastrata PLC 10 February 2010


10th February 2010 For Immediate Release

Infrastrata plc

RNS REACH RELEASE

Update on the Islandmagee Storage Project

Infrastrata plc (AIM: INFA) and Mutual Energy Limited ("MEL"), the partners in Islandmagee Storage Limited ("IMSL"), today provide an update on the gas storage project in Northern Ireland.

IMSL is pleased to announce the appointment of Paddy Larkin as a Non-executive Director of the business. Paddy is Chief Executive Officer of MEL and has extensive experience in the energy sector in Northern Ireland having previously served in senior management positions at Moyle Interconnector and prior to that at Premier Power.

Paddy Larkin commented:

"MEL is pleased to be a partner and support the development of gas storage in Northern Ireland. Fast cycle gas storage facilities, such as the Islandmagee Storage Project, will be important to respond to the rapidly fluctuating gas supply demand for electricity generation which is expected to be required to support intermittent renewable energy generation now being developed. With increasing reliance on gas supplies sourced from outside the UK and Ireland, gas storage within this market area provides increased security of energy supplies. The project facility is being designed to store 500 million cubic metres of gas, equivalent to more than 60 days peak demand in Northern Ireland."

IMSL has completed the last of a series of in-depth surveys required to finalise the planning application for the circa £250m project at Ballylumford, Islandmagee.

The most recent survey, a detailed geophysical assessment of the seabed around the proposed outfall diffuser, had initially been due to take place before the end of 2009 but was postponed owing to the poor weather conditions during the winter causing a delay to the completion of the Environmental Impact Assessment ("EIA"). The Planning Application, Environmental Impact Statement and the Hazardous Substances Consent Application are now expected to be submitted to the Strategic Projects Unit of the Northern Ireland Planning Service during March 2010.

Speaking about their important environmental appraisal work, Andrew Hindle, Managing Director of IMSL said:

"Over the past two years our experienced environmental consultants have completed a wide range of specialist surveys in order to compile a full and detailed EIA for this project. These assessments have examined the terrestrial and marine ecology, geology and hydrology in the area and have studied the level of potential impact on residents in relation to noise, visual impact and traffic. The project has been designed to ensure that impacts from construction are minimised and that the modest surface facilities are sited sensibly and landscaped where appropriate."

For further information please contact:

Infrastrata plc


Andrew Hindle, Chief Executive Officer 020 8332 1200

Craig Gouws, Chief Financial Officer

Mutual Energy Limited


Paddy Larkin, Chief Executive Officer 028 9043 7580

Jet PR (IMSL Public Relations Consultant)


Jacqui Thompson 07803 722322

Notes to Editors:

Background on the Islandmagee Storage Project

The proposed 500 million cubic metres ("mcm") facility will be the largest on the island of Ireland and the first for Northern Ireland. It will make a significant contribution to the security of gas supplies. The facility is being designed to inject gas at 12 mcm and withdraw gas at 22 mcm per day. The cost of construction has been estimated at circa £250 million, including cushion gas. The project is owned by Islandmagee Storage Limited an independent Northern Ireland registered company; a joint venture between Infrastrata UK Limited (part of the Infrastrata plc group of companies) - 65% shareholder and Moyle Energy Investments Limited (part of the Mutual Energy group of companies) - 35% shareholder. Moyle Energy Investments Limited will require Regulatory approval to participate in the construction of the project; in the meantime Infrastrata UK Limited is providing 100% of the development capital via shareholder loans. Further information is available on the website www.islandmageestorage.com.

Background on Infrastrata plc ("INFA")

INFA's business is focused on the development of two gas storage projects in the United Kingdom at Portland, Dorset and at Islandmagee, County Antrim, Northern Ireland. The two projects could between them provide over 10% of the total UK and Ireland peak daily demand in the latter part of the decade. The Company is also developing new projects in mainland Europe initially focussing on Germany and Spain. The Company is one of only a few Independents in Europe developing gas storage infrastructure. Further information is available on INFA's website www.infrastrata.co.uk.

Background on Mutual Energy Limited ("MEL")

MEL is a company limited by guarantee. Its principal objective is to own and operate energy infrastructure assets in the interests of the energy consumers of Northern Ireland. The company is a mutualised entity and therefore has no shareholders and its primary stakeholders are energy consumers.

MEL subsidiary Premier Transmission Limited operates the Scotland to Northern Ireland natural gas transmission pipeline ("SNIP"). The 24-inch diameter pipeline is 135 kilometres long and runs from Twynholm in Scotland to Ballylumford in Northern Ireland. It transports gas to Ballylumford Power Station which generates over half of Northern Ireland's electricity needs and feeds the natural gas distribution system in Belfast and the Greater Belfast area. MEL also operates the Belfast Transmission Pipeline and the 500 megawatt Moyle electricity interconnector to Scotland. Further information is available on MEL's website www.mutual-energy.com.

This information is provided by RNS The company news service from the London Stock Exchange

END

Any comments?

[kooba] 26/1/2010 20:26

another scheme bites the dust..shows what a quality fully approved asset we have!
Canatxx pledges to continue fight

[holism] 14/1/2010 13:43

See article today on 10 caverns in Cheshire.

[scruff1] 13/1/2010 09:47

From today's Telegraph

"The situation means the government needs to bring new storage facilities and renewable energy projects online more quickly, amid fears that the plants may have to stop power generation way before they are due to be decommissioned in six years time."

Both gas and wind power need back-up in cold weather. If the coal stations are going to burn out sooner than we thought, the need for extra gas storage and import capacity becomes even more pressing.

[kooba] 12/1/2010 18:37

eib does not give more details on timescale



though if you look at suez application and approval seemed to take 5 months though was multiple sites and projects



however it would seem an expedient time now to show some progress.

the planning application for islandmagee is also due which should get some publicy.

maybe the buying over the past week is in anticipation of developements?

[lageraemia] 12/1/2010 18:26

Reckon so.....

Does anyone have a rough timescale for a decision by the EIB.

The current lack of gas storage in the UK means that the average UK utility customer is ripped off royally - hopefully that will mean more to them than protecting the opportunistic profiteering of the continental gas firms that hold us over a barrel.

[bionicdog] 12/1/2010 16:47

Well , that's the downtrend and quid mark broken by the look of things.

[bionicdog] 10/1/2010 00:11

Fair enough LOL!

[coco] 10/1/2010 00:02

COCO - 9 Jan'10 - 22:34 - 26667 of 26672 edit


Well Its cheaper than £1.56 per BCF on INFA and £14.56 million per BCF costs plus cushion gas to Irish assets.

EO. £0.00 (yes nothing) and £8.71 million per BCF costs plus 35 BCF of cusion gas.

CNA Baird field (60BCF) (CNA 70% 42 BCF) 25 million aquision cost plus project developement of 12 million. Then 20 million per BCF including cushion gas.

Worth thinking about.

[whiters] 09/1/2010 23:49

No Just bored. And wishing I had sold at £3.80!

[coco] 09/1/2010 23:14

I thought it was rather Amusing.

[bionicdog] 09/1/2010 22:50

Are you ill?

[whiters] 09/1/2010 19:35

A lot of folks can't understand how we came to have an oil shortage here in our country.
~~~
Well, there's a very simple answer.
~~~
Nobody bothered to check the oil.
~~~

~~~
The reason for that is purely geographical.
~~~
Our OIL is located in The North Sea
~~~
All Our DIPSTICKS are located in
Westminster !

Any Questions ?


NO? I didn't think so !