GBP4.5mn drop in RKH market cap with only GBP 335k worth of shares traded over two days seems like bang for the buck according to me. RKH is not an actively traded share or dealt with by any MMs therefore drifting to crazy low levels. Plus there is the UBS manipulation / short selling as evidenced by RNSs over the last few months. STRONG BUY - Great Value over the next 1-3 months if you believe oil will remain in the $50+ range!!! Over 50% Cash in USD, 1500bpd production in USD - generating a minor profit at current Poo levels, $22mn for assets paid in April 2016, Italian Assets that produce 500bpd with upside. RKH AUDITED findings in Falklands valued at around 10p per barrel at current share price - when similar project in Senegal has reserves valued at $2.5+ Do your own research - a strong buy if there ever was one :)
Biggest dog in the group is PetroCeltic - but probably not great for RKH management that Hurricane Energy and PMO were included as replacements for Salamander and FOGL. PMO up 44.4% YTD and Hurricane Energy up 280% :) :) Even a dog like Bowleven is up 10% YTD. The incompetent CEO Kevin Hart is surprisingly still clinging to his throne - but then it is an insider cabal of ex-Cairn cronies/insiders. RKH up only 2% YTD :(
Page 42 of 2016 Annual Report Performance is based on Total Shareholder Return (‘TSR’) measured against an original peer group of 10 other oil and gas companies comprising EnQuest, Salamander Energy, Amerisur Resources, Providence Resources, Ithaca Energy, Petroceltic International, Faroe Petroleum, Bowleven, Borders & Southern and Falkland Oil and Gas. The Committee has discretion to amend the size and constitution of the peer group to ensure that it remains appropriate and has agreed to introduce Premier Oil and Hurricane Energy as replacements for Falkland Oil and Gas Limited which merged with the Company in January 2016 and Salamander Energy plc which was acquired by Ophir Energy Plc in March 2015.
The Committee aims to ensure that remuneration is linked to the performance of the Company and believes that the Long Term Incentive Plan, which is based on total shareholder return measured against an appropriate peer group of companies, ensures that management is aligned with shareholders in respect of the share incentive element of their remuneration packages. The Committee is satisfied that the outcomes in respect of the incentives and remuneration during the financial year under review are appropriate. In respect of the current financial period, the Committee does not propose any changes to the Remuneration Policy which is laid out on the following pages. The Committee will ensure that the Company’s remuneration policy and practices are kept under review to ensure that they remain appropriate for the Company at its stage of development and that they do not encourage any unnecessary risk taking by the executive team. On behalf of the Board I would like to thank shareholders for their continuing support. Yours sincerely David McManus Remuneration Committee Chairman
For a firm like RKH which is not properly in the revenue phase and is a relatively early stage E&P ( RKH has only purchased a small producing asset to offset running costs / generate minimal positive cash flow.) It is prominent in the Annual Report of such E&Ps that you have a basket of similar firms that the share price and performance is compared with - I haven't studied the RKH annual report in detail but Bowleven is one where the Directors on the remuneration committee employ such a parameter.
Just curious how you think an SP is going to affect staff/directors bonus payments if any as these are usually based on company profit not its share price. Usually net profit and after dividends (if any). After all with most listed companies one of the last things a BoD worries about is the SP as directors need to get on with running the operations to the best of their ability for the benefit of all shareholders not keep looking over their shoulder at what may even be a false SP.
In the previous two days we have a drop of 3.57% with only 0.35% of outstanding shares traded. ( 994,891 (today) + 615,000(yesterday))= 1.609mn shares / 456.59mn outstanding shares = 0.0035 or 0.35% 47.6% of RKH shares with institutions and steady with the exception of the manipulator UBS and//or its client. http://rockhopperexploration.co.uk/investors/shareholder-analysis/
No its not guess work but with most stocks it takes about 5% of issued shares to really move a price, may not be all one day though. As to your Wealth Fund expertise I wouldn't tell you either about the funds SAMA had to play with. The fact is I have an awful lot of friends from those days, tough !!
May I ask how you arrive at the figure of 2.5mn shares daily for the stock rise arises? To me it appear a rather a thumb in the air / arbitrary figure?? More so given that over the last 2 days only 994,891 (today) + 615,000(yesterday) = 1.609mn shares have traded and RKH has fallen 3.57%!!! And once again today as in the all 3 days this week in the last 30mns we had the biggest sells of the day - this is just some mickey mouse day trader trying to force the share down!!! Sooner or later RKH's management will act to prop up the share price - as it won't look good for their year end bonuses etc if RKH is severely underperforming its peers. Given the fall in GBPUSD - on a dollar basis RKH is trading at a price of 21.4p in dollar terms (26.75 *(1- %fall in GBPSD)) given the oil has almost double since RKH's lows earlier in the year at a price of 24p. This is a screaming buy - do your own analysis - $75mn cash in USD as of 1 Sep (Per RKH official report) Target of $60-$70mn at year end per mgmt. $22mn beach energy producing oil acquisition in April (1100bpd at an operating cost of $8), Producing assets in Italy (500bpd) + almost no value for Falklands/Isobel/Sea Lion assets. No analyst sells - Only hold and Buy ratings - with the high end in the mid 100 range. Also Eegbvi - I would recommend you not mention your "Saudi Connections" - I for one worked for the sovereign wealth fund at a mid-level and we weren't allowed to even mention that the Saudi Sovereign Wealth Fun was our client :)
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