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striebs

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12/10/14

05:41

Post #: 14112065
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Originally posted by The Gecko ↑

Finally we have some clarity on when this decision will take place. A very interesting turn of events with Scottish Ministers stepping in to take control of the final decision. As stated on 10 Oct by the lead Reporter;

"I am writing to confirm that Scottish Ministers have decided that the appeals should be recalled for their own determination given there is a high level of public interest in these proposals. There was considerable interest in this issue during the drafting of the Scottish Planning Policy (SPP), recently finalised. In light of this interest and relevance to the implementation of the SPP, Ministers consider there to be a national interest that would be best served by further scrutiny of these proposals.
The reporters will now therefore submit a report, with recommendations to Scottish Ministers, who will make the final decision on these appeals"

The SPP that was recently released CLEARLY states that Unconventional Gas will play a part in the future of energy in Scotland. In my opinion the Scottish Ministers are taking control of the situation to ensure they get the outcome they want regardless of the Reporters recommendation in their report.
With regards to timing the Reporters are looking to hand in their report and recommendations by the end of the year with the Ministers having their decision finalised within 3 months. With all that in mind we are looking at final decision by March 2015.
Whilst I am unhappy that it will not be finished by the end of 2014, I am comforted that we know the final decision is in sight. Most pleasing of all is this turn of events with Ministers taking control of the decision which makes me even more confident that this CBM project will get the go ahead (with conditions) and income flowing to iGas within 9 months from approval.
So many positives to flow if they get the go ahead with PEDL133 as DTE have a similar size project PEDL159 at Canonbie that could be as close as 18 months behind. If a precedent is set with Airth you would think it could move a lot smoother along the approval process for Canonbie. The near term revenue from these projects will provide a significant rerating to iGas and give it the breathing space/time to sure up the value in their shale assets as they move towards production sometime from 2017-19. Once all that hard work is done that is when one of the majors will come knocking and I will happily part ways with my holding at the end of this decade.
Still risks involved by IMO if you are prepared to be patient this company has the potential to shoot the lights out!!
Good luck to all.

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By April 2015 rather than March 2015. Either way it will still be Winter up there and quite possibly the next ice age will have started .

The original application was submitted in August 2012 .

Last edited by striebs: 12/10/14

DTE Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
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