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London South East Natural Resources Briefing webcast: #Emmerson #Alba #Condor Gold #Gold analysis
Angus Energy in talks to buy 'transformational' gas asset in North England


Rockhopper Share Chat (RKH)



Share Price: 21.875Bid: 21.75Ask: 22.00Change: 0.00 (0.00%)No Movement on Rockhopper
Spread: 0.25Spread as %: 1.15%Open: 21.75High: 0.00Low: 0.00Yesterday’s Close: 21.875


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Ovets
Posts: 746
Opinion:No Opinion
Price:21.875
RE: FI Defence Costs
Today 11:19
Godders, I reluctantly have to agree with Nige on this one - you can only apply for funding when you can produce authentic numbers.

However, one has to acknowledge that this is a massive project - probably more massive than anyone properly planned for, but even so, it has been a bloody long time in the planning/making.
I reckon, with all the FI region oil/gas reserves available, the likes of TD & Sam had "assumed" that shed loads of money would just pour out of the sky and their biggest problem would be how to pick it all up without dropping any of it.
Now they are really having to work to get funding - something that's perhaps caught them by surprise?
PMO has got quite a bit of experience of fund raising, but perhaps for SL, they hadn't anticipated this amount of effort?

There have been plenty of enforced delay periods, during which those involved may not have been using that time as efficiently as they should, otherwise I'd have thought that the numbers would have been ready some time ago, especially when TD publicly stated that FID will be announced by Feb 2019.

I think we're getting used to this GREAT country being a bit of a shambles, not being quite a great as some believe/claim, which is why I now have worries about the UK going it alone in an otherwise global World.

Anyway, back to PMO/RKH - Godders, I think the EC funding option has been around for some time, it's just that many hadn't clocked its significance.
 
carroteater
Posts: 584
Premium Chat Member
Opinion:No Opinion
Price:21.875
UKEF prospects better?
Today 10:44
Post MEP results, does UK expect a Farage-Boris combination, thoughts if that brightens UKEF prospects for RKH?
Nigoil
Posts: 1,554
Opinion:Strong Buy
Price:21.875
RE: FI Defence Costs
Sun 23:49
Or should I say, Rkh wouldn’t apply until FEED was completed, and why would they? Rkh have used their time wisely and the funding will come!
Nigoil
Posts: 1,554
Opinion:Strong Buy
Price:21.875
RE: FI Defence Costs
Sun 23:42
Godders99, you are incorrect with your post! Until FEED was completed, funding couldn’t be applied for!
Godders99
Posts: 82
Opinion:No Opinion
Price:21.875
RE: FI Defence Costs
Sun 23:25
Ovets my issue is the fact that we've been looking for finance for a good two to three years. The fact that the bod hadnt mentioned this financing route until recently suggests 1 ) this wasn't the preferred approach to finding 2) they couldn't attract conventional funding at economic rates . This makes me think we are in the last chance saloon .
Ovets
Posts: 746
Opinion:No Opinion
Price:21.875
RE: FI Defence Costs
Sun 21:49
Yanbu, it's interesting that on virtually every other point discussed here, the deramper/shorters immediately jump in to post every imaginable story, old/new/fake/discredited/etc. to say how PMO/RKH is a dead duck, their licences won't be renewed, the EC funding isn't going to happen, Sam and the Bod are robbing the company, etc., which puts the wind up the timid, who then flog their shares in despair, which they then move-in to scoop-up for a pittance.

But on this point, they're remaining unusually silent, because they know there is no other depressing version of the story, which they can post to make wavering shareholders feel even worse.
Ovets
Posts: 746
Opinion:No Opinion
Price:21.875
RE: GAS
Sun 21:22
The key to unlocking the region, sooner than later, is EC funding, which as well as providing one hell of a big chunk of the budget to get to FID and then SL sanction, it will give other would-be funding participants the confidence to make their commitment.

A very big part of this funding is for setting-up the infrastructure in such a remote region, where virtually none currently exists.

Once SL sanction is given, that eventually leads to first oil production and at last the elusive oil revenue to fund everything, including more drilling and enabling other licence holders to join in, if they haven't been taken-out by someone else.

Realistically, exploitation of the SFB (where gas and condensate is believed to be more abundant) is pretty far off, but any prospect of commercial gas production from the FI relies on achieving the previous steps first, as well as World gas demand remaining strong enough to justify the costs involved.
At the moment, I believe BOR holds licences with the best gas prospects, but that can change.

Despite all the Climate Change stuff, I believe fossil fuels will continue to sustain human civilisation for a while yet, and gas will be an increasingly important part of that.
Yanbu-arabia
Posts: 89
Opinion:No Opinion
Price:21.875
RE: FI Defence Costs
Sun 21:14
I calculate that the British Gov't has spent £2775 mln. ( 37 years x £75 mln. ) on the FI defence since the end of the conflict , ( How much we can attribute to the cost of the conflict itself is another mute point ) so if that is balanced against the $750 mln. EC funding cost for the Sealion project , I don't think anyone can put up an argument against that funding , especially when weighed against the benefits to all of the project .
BlooBird
Posts: 391
Opinion:No Opinion
Price:21.875
RE: GAS
Sun 17:54
Ovets
You wrote " if the successful outcome is the potential of billions of barrels of oil, plus the gas" implying that you thought they would make money from the gas.
I just wondered … HOW?
ralph2010
Posts: 684
Opinion:No Opinion
Price:21.875
SXX
Sun 17:07
Anyone else looking at SXX ?
Nigoil
Posts: 1,554
Opinion:Strong Buy
Price:21.875
RE: GAS
Sun 15:52
Johnson not commercial?
Ovets
Posts: 746
Opinion:No Opinion
Price:21.875
RE: GAS
Sun 15:01
I think any commercial gas fields are likely to be in the SFB, which is more BOR territory
BlooBird
Posts: 391
Opinion:No Opinion
Price:21.875
GAS
Sun 11:20
Ovets
You mention gas in your last post.
Do you know if RKH or PMO have ever mentioned how they are going to deal with the gas.
Kurgan2.0
Posts: 34
Opinion:No Opinion
Price:21.875
RE: FI Defence Costs
Sun 11:04
Carrot are you in Amsterdam? Just don't touch anything. Go home sleep on your side!
carroteater
Posts: 584
Premium Chat Member
Opinion:No Opinion
Price:21.875
RE: FI Defence Costs
Sun 10:57
British soldiers are not paid mercenaries.
Whitehall should require FIG to cede all future oil revenues to Westminster.
Ovets
Posts: 746
Opinion:No Opinion
Price:21.875
RE: FI Defence Costs
Sun 09:59
Any thoughts from anyone about the relevance of the annual FI defence bill, balanced against EC funding?

$750M/£750M/whatever is one hell of a big sum for a distant dot in the ocean, but if you're already spending something like £75M/year on its defence, then £750M doesn't look so daunting, if the successful outcome is the potential of billions of barrels of oil, plus the gas.
Neilius
Posts: 15
Opinion:No Opinion
Price:21.875
RE: UKEF
Sun 03:59
I guess most folks maybe don't trust credit agencies like they used to but I doubt there is any safer bet (with also an inherent political backing) than having a government underwriting your loan. It's also the same for us investors. If there any cracks or gaps in the finances of the project then they'll flag it up.
Nigoil
Posts: 1,554
Opinion:Strong Buy
Price:21.875
RE: Spoke with pmo and rkh
Sat 22:24
Ovets, I quite agree, take what I say with a pinch of salt!
Ovets
Posts: 746
Opinion:No Opinion
Price:21.875
RE: Spoke with pmo and rkh
Sat 22:07
I'm just asking for some clarification.
If you're unable to do that, for whatever reason, it would be better that you didn't start.

You'll just have to accept that when someone makes claims that they can't/won't substantiate, then at the very best, the rest of us will take them with a very large dose of salt.

It doesn't offend me at all, but it does cast doubt on your claims.
Nigoil
Posts: 1,554
Opinion:Strong Buy
Price:21.875
RE: Spoke with pmo and rkh
Sat 19:56
Ovets, you can ask till you're blue in the face, somethings as GreySquirrel pointed out a few months ago, just can't be posted on a public forum, I'm sorry if that offends, but no can do!
Ovets
Posts: 746
Opinion:No Opinion
Price:21.875
RE: Spoke with pmo and rkh
Sat 18:53
And just for the record, these are the EXACT words YOU posted:
"There are possibly two reasons that Fid and Project Sanction of Sealion will be later than 2019, but at this moment in time everything seems o.k. and still on course for later this year! Exciting times ahead!".

The "possibly" applied to the "two reasons" - i.e. there might be one reason, two reasons, or maybe more. You went on to post: "....... will be later than 2019.......".
Ovets
Posts: 746
Opinion:No Opinion
Price:21.875
RE: Spoke with pmo and rkh
Sat 18:49
Nigoil, please don't distract us from the issue: I'm asking what the "two reasons" are, which you still haven't answered.
Nigoil
Posts: 1,554
Opinion:Strong Buy
Price:21.875
RE: Spoke with pmo and rkh
Sat 17:29
Ovets, I posted " possibly ", not " will be!
carroteater
Posts: 584
Premium Chat Member
Opinion:No Opinion
Price:21.875
Shale / SPR
Sat 16:45
Thoughts if nations would reduce their strategic petroleum reserve levels to accommodate US shale?
Keeps oil prices lower.
Ovets
Posts: 746
Opinion:No Opinion
Price:21.875
RE: Spoke with pmo and rkh
Sat 16:20
Nigoil, you were lightening-fast in answering my question about FI defence costs (thanks), but we're still waiting to hear about the "two reasons that Fid and Project Sanction of Sealion will be later than 2019" that you mentioned, which is now a couple of days old.




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