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Hi Mogger, I take it you disagree with the attempts to reduce salaries then? Which of course is fair enough. I see this as a better option than removing BoD members, that is a bit more difficult. Maybe Sam would not want to work for a 100k and then resign, hopefully he would have saved a bit of his salary and his pension will be well topped up. Then the appointment of a share holder representative to the BoD may be a bit more important and a decent advertisement in the Aberdeen press and journal for a retired Shell or BP CEO that wants a 100k a year should fill that post.
I am not sure most find it difficult to vote on the basic agm, just may not agree with the supplied options.
Obviously does, Mogger. Quizzing shareholders intensely, suggesting underhand re-registration whilst declaring you have voted at the AGM. I’m happy to let Glenrothes and others decide on my integrity. Can you say the same ?
“Trying to change the BOD of a company by using a faceless BB. Give me break please, it's getting very embarrassing!!“
Garbled/Essex/Falklandinvestor… or whatever name you are using today. The aim is not to change the BOD, but to ensure some degree of financial discipline before we go bust. Investors have lost fortunes for 10+ years while Sam has been milking our company, and it is finally starting to ****s enough people off. It’s hardly a faceless BB trying to achieve this, when it requires names and holdings statements to prove we meet the minimum threshold. I know these concerns doesn’t apply to you as you have always been privy to insider information (or at least that’s the impression you like to give) making you the only person alive besides our BOD to have made money on RKH. And your massive shareholding of Argos being a slam dunk jackpot will make you a gazillionaire as soon as they start to sell all that gas they have, so I totally understand why you don’t onboard with this. IMHO DYOR…
**Mogger - I have indeed heard last week from many from your list. We are 36 million shares from 130+ bona fide holders & beneficial owners. We are able to call a meeting, and pass our resolutions. **
Time for you lot to stop this nonsense please...imho Trying to change the BOD of a company by using a faceless BB. Give me break please, it's getting very embarrassing!! Godders99 holds 9m shares, never signed to it, how can You be sure that others are saying the truth about their holding?
Mogger - I have indeed heard last week from many from your list. We are 36 million shares from 130+ bona fide holders & beneficial owners. We are able to call a meeting, and pass our resolutions. We had also agreed best to wait until the results of Ombrina Mare are known. We believe Harbour Energy must develop Sea Lion, and it would be quite unlikely that Harbour Energy walk away from the Falklands.
Dave, Just another negative poster who just happened to open an account on the same day as all the others
I'll add you to my list "Have a look at when these accounts were set up" Interesting the list is similar to Glen's list that pledged support but haven't got in touch with him since. Surely some coincidence
"One thing for sure is the sea lion well will never be drilled now climate change has taken hold."
There's a lot of drilling for oil offshore in South America in Brazil; it's one of the hot areas for current and future exploration. Argentina issued licenses in 2019 for offshore oil development in areas adjacent to the Falklands. And the world is going to need new areas as supplies fall short. Expect an ingenious solution for the Falklands combining green hydrogen from wind, new gas fields for the energy transition and oil as a stop-gap fuel. See example from Chile:
Chile’s green lessons for emerging markets
Chile has put together one of the world’s most ambitious plans for renewable energy, hoping to capitalise on the blessings of abundant strong winds in southern Patagonia and fierce sun in the northern Atacama Desert to generate green electricity at rock-bottom prices.
If they lose the arbitration rockhooper shares will drop to 3p, if they win they may shoot up to 40p, fingers crossed. One thing for sure is the sea lion well will never be drilled now climate change has taken hold. And if they win the arbitration the sam and his mates will nick the cash over the next 2 years just like they have done before. Im sick of more much money ive lost on this bull**** con company
Director purchases are absent. Significant Shareholder Institutions do not have the time to sit on the Board. Executives have been eating too much cake.
Personal Investor retail shareholders must have their representative, at a cost-less (token fee £1) seat on the Board. To think independently and ask tough questions of Management. With or without Ombrina Mare.
L'ISDS is a tool devised in the late 50s by German banker Hermann Abs and Hartley Shawcross, English politician and Shell consultant. The aim at the time was to protect private companies from any nationalization imposed by the many new independent states that were emerging. Today, however, arbitrations are increasingly attractive to companies that want to protect their assets from those states that are changing the rules on the use of fossil fuels. “The mechanism for Isds provides that only foreign companies, and not the local ones, they can sue the States and, above all, the extremely short period of time compared to ordinary proceedings, for such actions is not provided for the possibility of appeal, which has an outcome arising entirely from the judgment of the arbitrators, chosen by the applicant,” says the lawyer Martinez.
Rockhopper had obtained in 2014 the permission to extract gas and oil in Abruzzo, in the concession Ombrina Mare, in front of the Costa dei Trabocchi, investing 29 million dollars. Less than two years later, with the Stability Act of 2016, Parliament decided to ban any new drilling within 12 miles of the coast, and Ombrina falls precisely within this limit. From here comes the diatribe between the multinational and Rome: the tip of an iceberg, that of Arbitration between oil companies and states of half the world. A trend that is likely to increase immeasurably: "in the light of the EU's new climate package and, in general, the possible new restrictions on emissions and mining projects, there could be significant increases in the use of ISDS arbitrations," says the
Fact Antonello Martinez, president of the Italian Association of Business Lawyers.
The first millions could be disbursed in a few hours, when the arbitration award between the Italian state and Rockhopper will be filed. If the arbitrators of the ISDS (Investor - state dispute settlement) were to give reason to the British company, Italy would find itself with up to 275 million dollars less in cash. In fact, it amounts to the request made by the multinational of Salisbury, which seeks damages to the State for changing the rules on drilling.
I think it was said before that there could be 50% discount as we acquired MOG, funnily enough I used to own both NOP, MOH, and DES many years ago, but happy to be in again now for the ride. However dont forget what happened in Indonesia, I followed that well known shorter into that mining share and got stung so dont be surprised if its nil $ because of a technicality.