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The most recent guidance that I have seen, dated 24 December 2020 ( https://otp.tools.investis.com/clients/uk/rockhopperexploration2/rns/regulatory-story.aspx?cid=441&newsid=1440137 ), leaves myself with the view, that a final outcome, is not to far off now (months, rather than years),.....at my age (73), the months fly by, far to quickly,....now I have a reasonable RKH shareholding bought back, happy to sit back & await our fate, as far as an award is concerned,....after all, that's why I stared buying back into RKH, in the second half of last year, in the first place.
I always intended, to look at buying back into RKH & BOR in 2021,....the Arbitration, is what triggered me to start buying RKH earlier (in late 2020),........the share price decimation, that the oil price war & Covid-19 caused in the sector, is why I also bought back into BOR, earlier (late 2020), than I had originally anticipated, & reinforced my decision, to buy back into RKH.
I cannot remember ever holding PMO (I may have done, a long time ago), longtermthinker,....I have held RKH, DES, FOGL, ARG, FKL (I believe it changed its ticker to FIH), & BOR in the past,....so I know all of the acreages well,....RKH is sitting on a lot of it now,...at present I am holding RKH (six figure shareholding) along with BOR (large six figure shareholding),....always thought FOGL should have drilled "Scharnhorst", which is thought to be in the oil window, according to the 2D seismic data that FOGL did ( https://en.mercopress.com/2013/06/06/falklands-oil-company-completes-second-3d-survey-over-its-southern-licenses ),....... "Scharnhorst" sits across the old FOGL acreage & BOR acreage, the FOGL acreage is now part of RKH, then of course RKH have the old DES acreage also,....once sea lion is away, that's just the start, (IMO).
Nice one Wraith, good luck to you, I'm in a similar boat, 2019/20 December I got some PMO and RKH, then sold out PMO in Jan as thought they were a bit toppy at £1 and the profit was too nice not to take, more good luck that management to be honest.
Since then the few RKH I bought at that time, thinking PMO was about to get into a better position went down, I hung on thinking PMO would sort it's woes but then in Sept this year, as it became clear Harbour were taking over, I stared to average down further having bought at the real lows throughout the year; got some PMO too, just felt either way we would come out of Covid at some point and things would re-rate. Now with Harbour coming on board I am thinking to hold longer and see what comes.
Basically this turn of events although a bit tragic for Tony Durrant and PMO actually mean the possibility of the project going ahead is better than it has ever been because the debt ratio of the new company has been greatly reduced and they will have the income to fund SL development. In fact as PMO and RKH have stripped the project further and further to cut costs and get a partner and give back the free carry to do a phased development with UKEF funding; Harbour might be looking at this differently, they might want to rework it to have a bigger phase one as there must be cost savings and efficiencies to produce more at the outset, plus in the current climate of anti oil whilst it's still the lifeblood of our society, it might be prudent to get as much out sooner thus getting their money back sooner, then everything else is a bonus.
It is still a risk for sure, but if the arbitration brings anything like $100m to RKH, the company will be in a much better state to either get to first oil or should the worst happen; if Harbour threw away hundreds of millions of dollars spent so far on SL (not to mention the free carry they don't have to pay) by walking away from SL, as someone said on here, it would be bad, but we and FIG should have all the data and info to pitch a worked up, ready to go project.
Also the fact Navitas deal has been extended to Sept this year gives another reason to have a little confidence.
Yes it seems like it's getting close, the recent article with Italy's lawyer seems to point the way. You don't do a press article saying how this new precedent where internationally firms work on a no win no fee system for such cases (forgetting to mention the reason being Italy going back on it's word!).
So talking to the press seems like a pre-empt for a result that will not be in there favour in the same way prior to the Budget the UK Government leaks some info and press starts talking about 30p on Cigs and 15p on Spirits, then when the budget comes out, we all sigh with relief when its only 15p and 5p forgetting that it has still gone up!
No idea what the result will be but did someone mention previously it might all get put to bed by April so the Italian government could draw a line under it. Or maybe I was dreaming that bit like my dream about Harbour going hell for leather in to SL and we re-rate to 50p overnight! LOL
I am still a half full type person, I understand what Stevo is saying about Harbour not having a track record of doing anything but buy producing assets, but also don't see how they can mention PMO overseas opportunities and then come in to being and knock them all on the head! Zama is fine, it clearly meets none of their business model criteria and has been up for sale some time, so no surprises that it won't go ahead. But SL is a different kettle of fish IMHO, if they want to flex their muscles and become a bigger player with dividends and international growth, there is nothing even close to SL where they can be in the driving seat from the start. It is a rare opportunity for them to be able to materially change their production profile in 4/5 years as operator and have exploration upside they can take a pop at during the development stage. If SL was a stranded field, with no further upside around then of course, no way would it be on the cards, but Isobel, Johnson Gas to name but a few, never mind Phase two taking them up to 134k a day!
Anyway not long now that's for sure. Harbours first moves will be the most interesting and ultimately the signal as to SL and RKH's fate.