Infrastrata Share Discussion Threads

[tez123] 19/1/2016 08:00

Let's rocknroll!!!

[flyingbull] 01/1/2016 17:06

The monthly oil stock competition for January 2016 as well as the 2016 annual oil competition are open for entries. Deadline for entries for both competitions is midnight on Sunday, 3 January 2016.


Have a very happy and prosperous new year!

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[ali47fish] 18/12/2015 09:44

i am surprised no one has commented about the placing today-would welcome any comments the ceo is put a chunky amount and existing shareholders can participate- is the discount good enough though

[exmooroil] 10/12/2015 07:24

From Centrica's trading statement today:

"In UK gas storage, the negative impact on 2015 profitability from the operating limitations of the Rough wells is expected to be broadly offset by the sale of cushion gas from the Rough asset"

[bronislav] 27/11/2015 08:16

The PCI cash available would be a nice carrot to dangle before a possible suitor for the project ...Infa have done all that's needed to prove its viable and I suspect they may have found more than just salt below the target depth hence sharing data .....Previous rns said they are already in talks with potential interested parties ..Conventional drill next depending on funding ...

[exmooroil] 27/11/2015 07:26

Good news for the Islandmagee gas storage project:



Project monetisation to begin following successful report on the feasibility of the development.

PCI status has been reconfirmed.

[striebs] 16/10/2015 10:44

As far as I know Infrastrata are still the only junior listed in London with a salt cavern gas storage project .

They used to have two . Maybe they will again if the Portland project is ever revived .

The onshore conventional resources they are going after in Ireland are more than all those onshore England combined . Not sure why the exploration well is so expensive though .

Then they have the offshore extension and whatever they are awarded in the 14th onshore round .

[flyingbull] 30/9/2015 19:18

The October oil stock challenge is still on....deadline for entries is midnight tonight.....



Good luck!!!

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[chrisatrdg] 02/8/2015 23:12

Per Cacher from the other board:

tipped by Zak in the latest investor magazine. Page 3 & 5

[chrisatrdg] 02/8/2015 23:08

Good news for Woodburn Forest

'Fresh claims over the potential for water contamination at a Carrickfergus drill site have been rejected by the Department of the Environment.' - see link below article dated 25th July.

[guesswhosback] 18/6/2015 22:43

All good news, lets hope it stays under the radar for a few more months so I can build a good stake. Stay away.... please

[chrisatrdg] 26/5/2015 07:43

Last weeks news report on drilling

Detailed below is last weeks local newspaper report on the drilling and makes for good background reading plus photo:

[howdlep] 08/5/2015 14:36

buys going through both the LSE and ISDX

ISDX trades

[howdlep] 07/5/2015 13:39

Islandmagee will be spudding this month, hence the build up in interest

Oilbarrel

[guesswhosback] 06/5/2015 16:37

Thank you. I guess they are due to drill shortly?

[howdlep] 06/5/2015 15:52

Original Arden note, dated 2/4, is in post 473:-





Bridging Loan note, dated 1/5:-

1 May 2015

InfraStrata* (INFA LN) – Islandmagee Bridging Loan Facility

Buy CP 3.8p TP 36p



Key Points: InfraStrata has announced signing of a EUR1.8m convertible loan agreement. This is to be used to provide bridging finance for the company’s upcoming Islandmagee work programme. The work programme is fully funded by a grant from the EU and recent £2.1m plc placing but InfraStrata needs this interim funding due to the timing of drawdown of the EU grant. 30% of the EUR2.5m has already been received but the balance 70% can only be applied for once the work programme is completed (expected in October) and then can take up to 90 days to be paid.



The loan is from UK peer Baron Oil, is due for full repayment in May 2016 (this can be extended to December 2016 at Baron’s option) and carries an interest rate of 8% (which accrues and is paid at maturity). The full EUR1.8m is also convertible (again at Baron’s option) into a 15% stake in the Islandmagee project. Were this to be exercised it would be assessed pro rata between InfraStrata and existing partner Mutual Energy which would leave InfraStrata on 55.3%.



The timing of the drawdown of the EU grant has only recently been agreed with the signing of the formal grant agreement. Given that the work programme is going ahead imminently we are pleased to see InfraStrata able to obtain this bridging finance and we expect this to now allow the signing of the rig contract shortly and spudding of the Islandmagee well before the end of May. The well, progression of the associated engineering work and a subsequent process to monetise InfraStrata’s interest in Islandmagee are key catalysts for the stock over the next 12 months.



The rate on the debt of 8% is not excessive in our view particularly given the amount of time that the company will actually draw the funding for. The option for Baron to convert the loan into a stake in Islandmagee is interesting and while that may prove expensive as and when InfraStrata does monetise its interest in the project it also has positive ramifications elsewhere in the InfraStrata portfolio.



Baron Oil itself is a UK listed E&P operating in Colombia and Peru. The company has between US$8m and US$11m of cash available (depending on restricted cash) and also recently announced the restart of production at its Nancy Burdine field in Colombia which is expected to ramp up to 200bbl/d net. The InfraStrata statement also reports that the two companies are in talks for Baron to potentially farm in to InfraStrata’s Woodburn Forest-1 well. This is expected to be drilled in Q4 and Baron’s participation could complete funding for the well (with InfraStrata fully carried). Hence the Islandmagee loan has wider potentially positive implications for the company.



Forecasts: We have allowed for the interest on the loan in our FY 2016 numbers.



Jul 2014A Sales £0.0m, PBT (£1.4m), EPS (1.3p)

Jul 2015E Sales £0.0m, PBT (£1.2m), EPS (0.9p)

Jul 2016E Sales £0.1m, PBT (£1.2m) from (£1.1m), EPS (0.8p) from (0.7p)



Valuation: No change. Risked SOTP NAV of 36p/share (167p/share unrisked). This is based on InfraStrata’s existing 65% stake in Islandmagee.



Conclusion: We are pleased to see InfraStrata accessing bridge funding to allow its Islandmagee work programme to commence on schedule. While the Islandmagee equity option may prove expensive it could also herald wider co-operation between InfraStrata and Baron which would be a distinct positive if it allowed InfraStrata to access farm out funding for work elsewhere in its portfolio. The next 12 months will be a busy time for the company with the Islandmagee well, follow on engineering work, Islandmagee monetisation process and Woodburn Forest-1 well all providing catalysts. Based on this schedule we have a Buy recommendation and 36p price target.



Analyst: Daniel Slater 020 7614 5947 [e-mail]



*Arden Partners acts as broker to this company

[guesswhosback] 06/5/2015 13:17

Any chance of a copy of the Arden report please?

[bobby.ifa] 01/5/2015 14:05

167 would be nice for my recent 4.5p!!

[howdlep] 01/5/2015 13:58

shareholder value to be realised with today's news imo.

Arden out with a maintained Buy recommendation and Risked SOTP NAV of 36p/share (167p/share unrisked). This is based on InfraStrata’s existing 65% stake in Islandmagee.

[porsche911sse] 01/5/2015 08:59

Well written synopsis of today's update

[flyingbull] 30/4/2015 13:45

The May oil stock challenge is still on! Deadline for entries is midnight tonight.

Good luck!!!
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[howdlep] 30/4/2015 11:59

Oilbarrel article