Harland & Wolff (HARL) 2010年年度报告「LSE」.pdf

1、InfraStrata plcContents3Chairmans statementAs Chairman of InfraStrata I am acutely aware that the year to 31 July 2010 has brought its fair share of frustration and disappointment to our hopes and aspirations for the Group as reflected in a distressed share price performance.However,I am very please

2、d to report that progress is now being made to move the business forward.It has become a truism to say that the appetite for investment in gas storage within the short to medium term has deteriorated considerably in recent years and this has had a significantly adverse effect upon our ability to fun

3、d our portfolio of projects.In consequence,we have decided during the course of the last year,to expand our sphere of interest based upon our existing assets and areas of executive expertise where we have found there to be natural synergies.In this respect we have sought to lessen our total dependen

4、cy upon developing gas storage projects across an international portfolio,to one of broadening our range of assets within two core areas in the UK,to include conventional and unconventional oil and gas exploration.In the year to 31 July 2010 our disappointment centred upon the ongoing difficulties w

5、ithin the capital and gas storage markets.As you will know,a Co-operation Group of potential investors had been formed in October 2009 following which an advisor was appointed to undertake a technical due-diligence exercise.This process continued in parallel with discussions on possible shareholder

6、and capacity agreements co-ordinated by our legal advisors.Regrettably,whilst our view of the project in both technical and financial terms remains undiminished,the Co-operation Group,acting as a whole,were unable to offer commercial terms that were acceptable to us at this time.However,during this