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Hi All
The government has repeatedly (and recently) stated in the Commons and elsewhere that oil and gas are important components in the transition to zero carbon by 2050.
Cubane
I think that buyback idea is dead. Looking at the 2015 report:
CANCELLATION OF THE SHARE PREMIUM ACCOUNT Rockhopper decided that it could be in the future interests of its shareholders to be able to make distributions, either by way of a dividend or share buyback. Consent of shareholders was secured on 4 June 2013 at an extraordinary general meeting, and of the High Court, on 3 July 2013. Under the terms of the cancellation of the share premium account, the creation of distributable reserves can only be achieved following consent of the company’s major creditors, the most significant of which is FIG.
MuchaboutMoney, You said
"Ultimately we have Ombrina Mare in Q1 which should be worth an extra 20p - 25p a share at least as an insurance policy (assumes £100m)."
But Rockhopper owe FIG $80 million CGT since the farmout deal and they can't make dividends or sell to another company until that is paid.
While typing the above I thought of a possible way out of that restrictive scenario though. What if Rockhopper made a cash offer to buy shares from shareholders?
I maybe wrong but I think that method wasn't restricted by the FIG CGT agreement with RKH. Anyone agree?
Hope your right Much. I averaged down a bit further...but not enough for these levels.
None the less I still belive in the realistic and great oppertunity that the sea lion is.....i as I have posted over the last year really despise the RKH BoD...damn industry is full of them.
GLA
Sea lion will be funded and you wont be able to buy in at these levels - MMs will be picking off what they can
Bootle its a fair challenge but the point is that volume is low both ways. No one is buying but at the same point no one is selling (yes I get every buy has to have a sell etc) which suggests people just don't know anything and nothing has leaked.
Not forgetting even a 100k block is only £17k ... its just awaiting news and dripping down as people get impatient after 8 years of waiting. One RNS stating that its game on and we're going to be in a very different place with millions of shares traded.
Kurgan2.0,
Care to comment on Premier Oil which was my original point ? Hundreds of millions profit and free cash flow.
Could not agree more is it better to pay more and jump in with a chance or pay less and hope . On some rns you can normally do well . Have to say the falklands shares have been dire for years . I LIVE IN HOPE I HOLD HERE AND BOR . About time they gave us good news p/o waiting
I think today's investors are a little more wiser with their cash these days, hence the ultra low volumes. If anything material was going to come out in PMOs update tomorrow then you can bet your last dollar that the big money would already be in by now.
Auson: well we'll find out tomorrow....
Bootledodger,
Same manipulation on Premier Oil, which is widely believed to be Goldman due to the high frequency of TR1s over there.
Much: I pray to God you're correct, but the evidence doesn't point that way - volume of sells to buys over the last week have been stark (not sure where the MMs are getting them from to sell?), no one is buying, tiny amounts, surely someone would be buying big at this stage if something was about (before Christmas/early jan) to be announced?
I've been watching how volume and interest here has literally dropped to nothing over the last few months.
Usually you would expect a volume surge in the run up to a Premier update but no interest in any direction. Its as if all the cards have been laid and people are waiting to see how this turns out. Any news could trigger a very sharp movement in a near zero volume market.
I expect a ZAMA update tomorrow with very positive news based on Malcy's 'data room very busy' comment.
If Zama has been sold, that may well be the trigger for the farm in and the Export Finance loan which I reckon are probably both dependent on Zama. Classic case of interdependencies. Once the trigger is pulled we get the domino effect as everything starts to fall in to place with FID following soon. Just wish I had waited until now to put in my cash rather than to have averaged at 37p over the last 7 years!
Ultimately we have Ombrina Mare in Q1 which should be worth an extra 20p - 25p a share at least as an insurance policy (assumes £100m).
With a general election putting Boris in charge and a deal with the EU done, 2020 could be the year that it all finally happens.
As I have said before, the darkest hour is always just before the dawn.....
Rferdless we have
Just a question - if you think it's that bad, why do you keep posting on here? If I had sold up, I'd be gone without looking back....
Just done exactly the same... peace at last!.
That's it had enough have had to filter 3,699 and 2,271. They started off as normal and now just plague BB's, especially this one.
I keeping popping on looking/hoping for any potential info and have to read those two.
600 odd posts in 30 days between them. Beyond weird.
Rgds sft