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cyan2,
Thats exactly my point the numbers in the PMO update should be good. Debt being payed down lots of hedges etc.
Not sure what to make of PMO short positions. I'd like to think we can be fairly confident that PMO are not holding back , until 22nd, an announcement that should be promptly RNS'd; ie Zama sale uner negotiation.
I guess someone thinks the numbers will not impress. PMO have hedged well. Frankly not expecxting any major surprises myself.
cyan2,
A very interesting thing happening at the moment is the huge short position on Premier Oil which has been increasing in the run up to the interims 22nd Aug. Does someone know something has to be the question.
A lot to weigh up if you are thinking of investing. Here are some negatives and positives;
RKH; the negatives;
Sale of Egyptian assets. Market did not like. Does that signal that RKH believe FID will be delayed and they need the cash to survive until first oil revenues. How long will any potential delay be?
POO weakness and general concerns of economic down turn; Will this put off lenders?
No certainty finance will be provided; no finance equals no development.
EDISON thinks the market is giving sealion no more than a 20% chance.
If SEALION does not reach FID; the share price, in my opinion, will very substantially retreat to reflect the cash in the bank at best.
Arbitration award is not gauranteed; RKH may not get anything.
PMO signalled their preference was to bring in another equity partner. Assuming after FID ; will this entail further delays? Have PMO already been mulling with another possible equity partner?
The positives;
FIG very supportive .
PMO committment to the project; circa 60 staff engaged on forwarding SEALION development.
FEED completed ; project costs reduced , LOI's signed,and continued mitigation efforts.
PIM submitted to potential financers.
DURRANT interviewed in MAY revealed that PMO had been discussing with funding sources "for some time" and he was "very encouraged"
Malcy's suggested that it was not out of the question that FID might be achieved at the turn of the year . DURRANT responded "No,I think that's right"
EDISON report offered opinion that , after the Egyptian sale, RKH will have sufficient capital to reach first oil. This assessment is with a 12 month contingecy over and above RKH guidance.
Arbitration prospects considered very good and a very substantial payment is possible.
(EDISON report gave an indicative example of $50m USD that would equate to 8.5p per share).
EDISON disagrees with market apparently giving SEALION development only 20% chance. EDISON gives SEALION 55% chance; slightly odds on.
Cyan2, I think you'll find that at least some/most of the endlessly negative posters here are those who've messed up badly, bet the house on RKH as a dead cert (PoO over $100, etc.) and then realising it's NOT a dead cert.
But they're too stupid/ignorant to trade their way out of trouble, so just come here to moan at everyone else (including fellow shareholders), instead of accepting responsibility for their own stupidity.
I've put most of them on ignore and laugh at the rest - poor fools!
What do you mean by "RKH are in charge of the biscuits"?
At the last AGM, the biscuits where pretty awful and the coffee even worse - is that what you mean?
Actually Nige, in his original post, Ralphy said he had a "trance" at 92p, which makes more sense than his usual drivel.
Anyway, just popped by to see if Nige is still spending 24/7, trying to convince everyone he knows something that no one else knows, and he is.
You have to wonder when he finds time to have a life. By the quality of his posts, it looks like he doesn't have a life, other than posting: "FID/Sanction 2019 - STRONG BUY"!
I am not so concerned with what we can not chage in the near term, more so with the long term. The BoD are not are not getting suffeciently challanged or held in check. That will not change without an attempt at share holder unity. It may be a waste of effort...
As I do appreciate complaining and doing nothing can be most satisfying for some types, who chuck their money in on a bet.
Sft
Well have any of the moaners written to the larger investors asking for change in the BoD....bet is NO.
Carry on ranting here but make no effort toward change gents. You should at least try and plug the holes rather than just shouting iceberb iceberg we are hit we are hit! Help repair or please go for a cold swim.
Sft
Godders99 wrote "Fact is this isn't a multi bagger and never will be. Of it was IIs would have piled in by now"
Have you looked at who holds RKH shares? The II's already hold .
Regarding II's there are positives to take if you compare with a retail favourite.
Compare RKH to UKOG and you will see significant differences. The UKOG CEO and the Institutions do not hold ANY shares. UKOG is all retail and you just see nominees in the list of holders. That should ring alarm bells.
RKH does have Institutional holders and a CEO with some skin in the game.
hTTps://www.morningstar.com/stocks/xlon/rkh/ownership
Lets see if those recent sizable RKH sales came from II's. Look out for RNS. Those millions of sales went somewhere.
Who picked them up?
"Money talks. If its such a fantastic opportunity, a multi bagger at this ridiculous low price. Where is everybody........"
Well, if any potential investor read the posts on this board they would think RKH is a POS and would be put off.
Share prices are very much driven by the demand for the stock; people wanting to buy into the company's prospects. This BB has become dominated by a small number of posters most of whom state they are shareholders posting regularly; sometimes several times a day; expressing extreme dissatisfaction. Sometimes colourful abusive descriptive terms are used . Distrust of the management expressed in the most explicit way .
I have been disappointed that progress to development has been very slow . I don't winge every day about how unhappy I am . What do you guys think possible new investors pick up from the repetitive negative postings?
I see light at the end of the tunnel and, that the balance of probabilities is now into the odds on side as does EDISON.
There are never guarantees and I am here with my eyes wide open.
If I am wrong i will not blame anyone else for my decisions.
Why would any normal person post negative comments almost every hour about a share they purport to be useless. What are their motives. A normal person would sell up and leave for pastures new, but NOT kurgan or ralph. They or indeed probably one person ,has the aim to drown out any reasoned debate here for their own or employers benefit, distorting known facts in order to mislead. Amazing how low some humans will stoop in pursuit of their god money , morals for these don’t exist and are indeed considered a weakness.
The PIM might get as much notice as a wet fart. Oil is being pushed out of fashion by the rampant left, a foolish game, but non the less, its happening anyway! Farm in was the preferred route and that obviously failed, we are already in last chance saloon.
So, you can out the 50/50 crap, sell if you don't believe, bla bla. I have every right to express my journey here ! Hasnt been good for a very very long time.
Too late for me to give much of dam tbh, my stock was at 92p. Might aswel stay now, hoping you are correct though buddy, I will happily wear a dunce cap for you.
The recent PIM sumbition is not a false promise its a fact; it represents progress. PMO have engaged circa 60 staf to forward the development of SEALION and have already made much progress with negotiations with contrators resulting in the signing of LOI's.
As I say; You are believe it WILL happen; or you don't.
If you think you are being lied to and that FID will not be reached; this is not the place for you.
RKH needs to be rushing towards funding or its 5p ! Yes, everything is down right now, but its been 10 years of let down by RKH in any case.
I see nothing to be optimistic about , glad if im wrong
Lots and lots of moaning on the BB . The most recent gnashing of teeth has followed a sector wide retreat in O & G valuations following weakness in POO; other shares have lost ground too; its not just RKH specific. Others like HUR have lost significant ground and , of course PMO. Weaker POO particualrly impacted PMO who is a large producer; not a particular surprise. Also, RKH has had at least one significant seller which has helped drive our price down.
So what has changed in respect to the long term prospects of SEALION.?
Is RKH rushing towards bankruptcy or massive dilutions?
If you read the EDISON report the conclusion they come to is NO; If the finance comes through ,RKH are fully funded to first oil with a cautious assumption that first oil is in 2024; and thats with a 12 month contingency.
There are those posting , endlessly, very negatively with some expressing doubt that the finance will be forthcoming. Yes, funding is critical. DURRANT stated he is 'very relaxed' and 'very encouraged'. . If you doubt him and If you do not believe the finance will be forthcoming; there's the door; dump, get out.
Personally I doubt we will reach FID around XMAS 19 and that some of that contigency time will be used up; maybe FID in the summer of 2020?
The exciting possible bonus is the arbitration result expected in Q1 2020. IMO, our future does NOT depend on any award; its just a possible BIG bonus.
In conclusion ; I believe RKH is on route to the monetization of SEALION and that PMO are not going to write off half a billion quid from their books.
So Ralph, your claim to fame is 744 posts. All full of mistruths and distortions to lead the ill informed astray. You really prove the point that “empty vessels make the most noise” verbal diarrhoea 744 times. You must be proud. ????????
The 19 post donkey is here ! EEE Awww
I see the bashers have really gone into overdrive today . Having lovely conversations with each other and most probably themselves. Obviously they feel things are about to change . Hold tight everyone and don’t get taken in by their dishonesty.