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I don’t think Finley knows what he’s saying at all. He’s about 4 to 5 years behind.
Finley 1 says: "I don’t think your get all those millions promised".
If you're referring to the full OM award, plus accrued interest, don't you realise that the award has been sold by RKH for an agreed sum, subject to FIG approval?
Do you know what you're saying?
As for lack of announcements, agreed it is very frustrating, but I suspect Navitas are keeping the lid on things and maybe HMG in the background too, until the time is right.
We have had far too many announcements in the past (mainly from PMO) that came to nothing.
I'd rather have silence than misleading rubbish from those who feel the need to say something, when there's nothing, or not much to say.
I’m not saying you are not aware of the situation. I’m saying I don’t think your get all those
millions promised . Problem with chat boards is they are not rational places, it’s all emotion,
and unfortunately when emotion takes over, it costs investors money.
It Appears RKH may be saved by the watered down subdued drive to net zero, but It’s still a deck of cards.
I of course wish investors well, and will raise a glass of Prosecco when the Lira lands in the bank account, providing Sam hasn’t nicked it for another placing.
There you go it’s been confirmed by Market dope. Garbled. Essex. Falkland investor. Falky Fakey.
If you’re not sure those are just some of the names he/she had. Changed every time when people realised it was all lies.
So there you have it. From the horses mouth who’s a proven liar. Put your house on it.
The caravan is barking and the dogs keep camping.
IMHO. DYOR. Just yet another gut feeling matey.
Finley you write as if none of what you wrote has ever been considered or discussed on this board. It has - to a far greater extent than your posts.
We are all well aware of the situation, what has gone on before, what is happening now and what might happen in the future.
Sea Lion is going ahead ... 100% ....ATB
I used to attend the RKH agms around the time the Americans were interested in buying the
business. I thought the then CFO was creditable, I cant remember his name.
MOG couldn’t utilise the asset back in the day what with the stone wall the Italians were
sticking up, and obviously sold the whole shooting match for low level millions I think
5 or 10, I can’t remember.
The point I’m making and I remember thinking at the time, they the Italians won’t want to
stump up many millions in assumed profit when MOG would have only invested a very
small minuscule amount in the licence and a bit of development.
Here we are 10 years later, lots of flash lawyers and advisors, trying to extract many millions from an Italian government when probably in their mind the only compensate due is the
actual cost of expenditure, which was nothing in real value.
So, until the Lira is in the bank account it’s an unknown, that’s, er my view.
Apologies if that offends, but Er we are allowed free speech. Something to think about.
"To be fair RKH hasn’t been a good investment up to now, the management are clowns." the first part of that statement by Finley1 can't really be argued with in recent years, the second is also probably true.
Navatas have come on board but I bet they sought out Rockhopper and not RKH management team that found Navatas.
What really annoys me about the management is the complete lack of any publicity for the fantastic project they have, No interviews with any of the oil related websites, No Youtube videos, No PR whatsoever is seems.
Shareholders need to feel engaged and continue to hold. potential shareholders need to feel the enthusiasm that needs to be expressed by the management about what is going on.
All of this in someways doesn't matter, what will be, will be as far as the project advancement goes, but if they have to go back to the market again and raise funds 12p , I am not going to be best pleased.
You must think we were born yesterday.
I think you’d have better luck on a different board Finley.
Things starting to hot up very soon. FUD spreaders now having posts removed calling them out. Diddums. 😩
It was a tongue in cheek remark about the Lira. At the end of the day it states at the bottom of the RNS that the Italians don’t like to pay their bills. I understand that RKH have sold the debt
on. Once you get the Lira in the bank account you can all start slapping each other on the back, up to that point it’s all words.
Finally, I don’t remember what RKH paid for Mog, but it wasn’t a lot, so it will be interesting to
see if you come out of it financially in front.
To be fair RKH hasn’t been a good investment up to now, the management are clowns.
They should of sold to Anardako, the yank outfit sniffing around back in the day.
Problem with these posh city CEO’s they ain’t street smart.
Something to think about
And it will be paid in Euro's , Lira is in the distant past , c'mon , keep up.
''Gut feeling it will all end in tears, and no Lire will ever cross hands''
-----------------------------
Keep up old chap.
The award has been sold on, monetised for many 10's of €millions, subject to FIG snail pace sloth approval.
The Italians are renowned for their dodgy attitude to compliance with unfavourable regulations, so RKH, K&S and Harbour were more than well aware of what they were dealing with, when they initiated this in 2017.
K&S are considered one of the very best in their field in the World and Harbour will want their investment returned with serious interest.
K&S must already have lined up suitable candidates for enforcement seizure once the ad hoc committee has announced its decision.
So I think your comparison is not a good one.
I was invested in Mediterranean oil and gas back in the day. I remember mog trying to get some money out of the Italians back then must be 10 years ago. I still see that the Italians are
hanging out the payment and process.
Gut feeling it will all end in tears, and no Lire will ever cross hands,
Just having a look at Navitas's end of year accounts and noted
'Navitas Petroleum Development and Production Ltd NPDP ~ has past investments in the (Sea Lion) Oil Asset for tax
purposes in the total amount of approx. USD 700 million, that can be utilized
in the future against a taxable income from the Oil Asset.'
So presumably just royalties to pay for the first 12.5m bbls produced.
12p is a great "price" for the BED to ISA trade.
This share has "no" price until first oil. Market has disregarded the positive news flow of the past 2+ years.
Nice to see the Navitas staff? helping themselves to restricted stock units on 31/3
Patience
Has anyone got any idea of when the April hearing is? I seem to recall due to illness the hearing was pushed back to April, but cannot recall a new date being mentioned!
Seems like everything is waiting until after the 5th of April !
LTT
I can't blame anyone for locking in some profit, even selling at 12.5p would give a 30%+ profit and for warrants that cannot be held in an ISA with the new CGT allowance cut to £6k this year and then to £3k next year it makes sense. A lot of people selling after April the 5th would be hammered for 20% tax on any profit over £3k.
I know at this moment in time, many are underwater with their holdings, but even so, if you believe in the company and that there is much more happening than there appears to be, it could be worth selling, even at a loss, (thus having a loss to claim against future CGT) and putting the lot in an ISA. You can stick in £20k before the 5th of April and another £20k from the 6th April.
However please note, this is not meant to be financial advice, as anyone who did the above, if Navitas walked away and RKH ceased to be, you would lose the lot and receive no allowance for the loss (hence the rules of an ISA, you keep all the capital gains, but you have to take any loss on the chin).
It just depends what you believe the future holds for RKH, for the record, I now have all my RKH shares in ISA's, if I have the funds I would be taking up this and next years allowance also, but it's probably for the best that I don't. LOL.
LTT
Appears bit of a sell off today but probably due to tax reasons more than anything else.
Sorry meant $14M in 2022 and $22M in 2023. Now where is that EIS and an update!
Happy Easter everyone. LTT
Thanks for the link pre2rcd, seems Navitas are spending, $14m in 2023, now $22m. so $36m in the past 2 years, would love to know what they have spent the cash on!
"The Partnership operates in a number of levels to promote the development of the project, including:
A. Formulating the financing plan for the project, which may include, among other things, financing by way of issuance of debentures, bank financing and oil traders financing.
B. Receipt of regulatory approvals for the revised development plan from the government of the Falkland Islands.
C. Identifying, negotiating and reaching agreements in connection with the ordering of significant long lead equipment, including the project’s floating production storage and offloading (FPSO) facility, and the supply and installation of underwater equipment.
D. Assessing the option of introducing another partner to the project, before or after the date on which the final investment decision (FID) is made."
LTT
Navitas 23 results out but very much an auditor report, no real new information
https://navitaspet.com/wp-content/uploads/2024/03/Navitas-annual-FS-2023_eng.pdf
RKH makes all-share offer for BP. Pundits agree it's a great deal for a beleagured BP - SP due to rocket on Tuesday, while RKH SP rise predicted to be moderate,