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Hi SpaceHoppa - read the RNS & I concur with your conclusion - annulment isn't mentioned so I think " completion " is confined to the context of the RNS.
Regards,
Buffit
Here is the full paragraph.
Precedent Conditions
''Approval will be required from the Falkland Islands Government to the transaction. A further announcement will be made on completion. Should completion not occur by 30.6.24. either side has the right to termination. In the case of non-completion Rockhopper will use proceeds of the Award to provide compensation to the Specialist Funder based on their legal fees incurred.''
I'm unsure what they mean by 'completion'. Is that completion of FIG signing off on the award, or completion of ROI's annulment request.
I read it as FIG signing off the award before 30.6.24, at which point the contract with the specialist fund was in force.
However it may be completion of the annulment hearing before 30.6.24 that ensures the agreement comes into effect?
Does anyone know for sure which is true??
Hi Nastynick,
I wouldn’t hold your breath! The statement says;
“Should completion not occur by 30.6.24. either side has the right to termination.”
That says to me either the funder or RKH have a get out clause, but doesn’t imply they will use it, in theory we could go past that date and wait until the OM annulment result drops and still be waiting for FIG to sign off on the deal. Cannot understand what they are playing at stringing RKH along. Paying off the lawyers and the litigation funders and having €15m in the bank would help RKH no end, with the promise of a possible €65m should OM rule in our favor.
Can’t understand it at all to be honest.
LTT
We had the deal whereby we get 15M in tranche 1, etc after the deal details this was stated :
Approval will be required from the Falkland Islands Government to the transaction. A further announcement will be made on completion. Should completion not occur by 30.6.24. either side has the right to termination. In the case of non-completion Rockhopper will use proceeds of the Award to provide compensation to the Specialist Funder based on their legal fees incurred.
Time is running out with only 8 weeks before that deadline, should we expect FIG approval any day and the deal to be confirmed? This would help the sp a little?
Thinking of topping up.
GLA
Seven years and counting on May 19th:
https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/17/14
And still we sit at:
'April 11, 2024 - April 12, 2024
The ad hoc Committee holds a hearing on annulment in Madrid.'
These guys have Phd level qualifications in delaying tactics.
I have every right to change my mind as things unfold. Unlike you, who has always spouted ramping BS with "secret" knowlege for decades and lost people their shirts. What a vile human you are, to not show any shame for the damage you caused.
Just put me on filter, I cant be bothered talking you, you bore me.
**How do you know if I bought at 6p or not ?**
I don't know, but if I based your tradings on your posts while the sp @ 6p then it's Sell...
Have a look at your previous posts, it's all there...DYOR
Never Followed you when deramping nor Ramping cos it's all were/are ****posts (always thought that)....IMHO .....Never Mind.....Good luck with your tradings (If any !)
I have never told anyone to sell or buy, thats your failings with your fansty " information", "follow essex" and all that .
How do you know if I bought at 6p or not ?
One bit of positive news and the sp is over 20p+++...IMHO-DYOR
(Ralph, such a shame you did buy at 6p when you were telling us to sell then...never mind)
I am hoping not, I want to keep buying under 15p for a good 6 months yet.
Volume is up…
Are we going to break through the 14 p barrier today…?
The AokaMizu only has a capacity of 30,000 bpd .... I think Navitas wanted to initially process 60,000 bpd in the first phase of Sea Lion..
Looks good but I’m not up to speed with FPSO specifications and the exact requirements of Sealion.
Https://www.bluewater.com/wp-content/uploads/2021/03/BLW_FPSO_AokaMizu_leaflet.pdf
We must have the AGM coming up shortly, think it was beginning of June last year. If anything, at least we should get a progress update on everything.
Calm down TCM, anyway, don't you mean you will challenge any unnecessary Scaremongering ?
Keep us updated Alma.
Thanks.
Alma, I am not interested in the companies response to yr ridiculous query as I am 100% certain Navitas have this matter in good order, if you want to run round in a blind panic- getting yr knickers in a twist over nothing, fine but if you continue trying to Scaremonger lesser informed holders on this board then I shall counter your Preposterous accusations.
Well said Auson, finally another voice of reason 👏👏!
That's OK , Ken Dodd, I will let you know what the company's response is.
Ovets; I will defend any unnecessary Scaremongering !
Alma's accusation that Navitas has forgotten and need reminding by posters is utterly incomprehensible and nothing more than Scaremongering !
And you think Navitas are unaware of this and need reminding by an lse poster ??? 🤣 😂 😂 🤣
To suggest Navitas are unaware of losing the production license & 500 million barrels and need a reminder by your good self is Preposterous beyound human imagination !
AlmaCogan,
You know you can just open a new company name and transfer over easy as that !
Laugh as you wish, Ken Dodd, but this is the Sea Lion operating company
FIRST GAZETTE NOTICE
08138246 NAVITAS PETROLEUM
DEVELOPMENT AND PRODUCTION LTD
Publication date in the Gazette: 30/04/2024
The Registrar of Companies gives notice that, unless cause is shown to the contrary, the Company will be struck off the register and dissolved not less than 2 months from the date shown above.
Upon the Company's dissolution, all property and rights vested in, or held in trust for, the Company are deemed to be bona vacantia, and will belong to the Crown.