I have read all the presentations and RNS's but cannot work out why RKH is so low at the moment. Its not just a case of trying to work out an entry point for myself. To me the charts suggest this could slip a little further, maybe even 100p. Time will tell of course.
Tmc, I suggest you read through the terms of the farm in agreement. PMO to pay RKH $722million development carry, therefore the $700m you are concerned about is fully covered. If estimated costs are exceeded then PMO shall make available a loan facility to cover this.
has 270$million in cash. Fully funded to first oil + drilling 4 wells soon.. again fully funded. Oil worth Billions in ground.75% owned by big Institutional Investors.. All currently valued at 335£million.. This is market cap of DES of three years ago which didn't have anything apart from 4 drills.. Does sound very crazy to me.. Something has go to move this IMO..
PMO to make funding available, in Nov/Dec PMO raised funds offering bonds which was oversubscribed and closed early!! PMO are oil producers and have revenue coming in, I don't foresee them having any difficulty raising funds.
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