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Time will tell, tick tock, simples!
what part do you disagree with ? The SP proves my point I think.
Sorry, I have to disagree, simples!
no Nigoil, read properly. I asked "when". This wont get any SP value until Navitas has secured funding or the arbitration comes in
Would it be fair to say that from March onwards, things should start looking up for RKH shareholders?
ralphydude, your original question was about Navitas raising funding and should their shareholders be worried, was it not? See your post 1124. I have demonstrated to you some facts of what Navitas have been capable of todate regarding the way they go about business and you don't like it, you know as well as I do they could finance Sealion on their own, simples!
Once the Navitas deal is finalised and signed up and the market receives the other updates Rkh sp will be re-rated, FACT.
I have provided you with facts, not much production and expensive bonds.
You cant help yourself can you, you have to sneer and be unpleasant. What is wrong with you ?
ralphybaby, Buckskin was just used as an example of Navitas capability in raising funds for their projects without dilution to their shareholders. Also you have to bare in mind they keep the fund raising in house, very powerful! Check out their other projects and you will see they are working to the same business model.
ralphydude, you are hardly wanting to discuss because you can't provide factual information , just your warped opinion unfortunately , oh well you can't say I tried!
I'm not exactly jumping up and down about them, neither is the market. Better than having nobody I suppose.
" Well I see it as not going that smoothly, could have been better. " .............Please share article or link and post why it could have been better?
ralphydude, so you still don't think Navitas are capable or raising large funds?
Navitas Buckskin US, LLC (7.5%)
"Once fully established, the phase one production rate at Buckskin is anticipated to reach 30,000 barrels of oil per day."
2,250 barrels a day. pretty disappointing tbh. Navitas have got a bargain in 30% of SL. RKH bent over again
Well I see it as not going that smoothly, could have been better.
They have 3 to come online according to their web site. But I cant see what they are getting from Buckskin.
You mean 7.75% ralphydude? Navitas aimed to set the interest rate @ 6.5% but settled @ 7.75% to get the deal accepted, you post " ouch " why? You also post they struggled,? they didn't because they always negotiate hard either way! Have you looked at the returns Navitas are receiving from the production figures of the huge Buckskin discovery?
The main point of me posting that article was in answer to your earlier posting of how will Navitas finance Sealion and will their shareholders suffer as a result, I think the article I have posted more than answers your question, simples!
Looks like they struggled to get it though, 7.5% ouch. Aslong as they get it I suppose it doesnt really matter to RKH how much its costs Navitias.
O. K. ralphydude, I'll help you with the discussion with this little snippet / insight on how Navitas operate.........................
Gideon Tadmor's oil and gas exploration partnership issued participation units for NIS 60 million.
The Navitas Petroleum partnership, controlled by Gideon Tadmor, has raised NIS 530 million from the Israeli public in two difficult offerings of debt and equity. The money is earmarked for the partnership's oil and gas exploration in North America and consolidating its finances.
Navitas completed the public auction for its participation units before Rosh Hashanah, raising NIS 14 million, after raising NIS 32 million in the auction for investment institutions a few days earlier. In order to complete the institutional auction, in which demand was lower than expected, Navitas lowered the minimum price in the offering by nearly 10%, and the number of participation units was also cut.
At the same time, the partnership reported that the general partner, headed by chairman Tadmor, had put NIS 15 million more into the partnership "on the same terms as for the public offering," bringing the total raised to NIS 60.4 million at a company value of NIS 250 million after money. Now that the initial offering has been completed, trading in Navitas's participation units on the Tel Aviv Stock Exchange (TASE) is stated to begin this week.
A month ago, Navitas Petroleum subsidiary Navitas Buckskin Financing completed its issue of two bond series totaling NIS 472 million ($131 million). The proceeds are designated for development of the huge Buckskin discovery in the Gulf of Mexico. The site, which contains 486 million barrels of oil, is scheduled to begin production in the second half of 2019.
The bond issue also encountered difficulties. After an initial unsuccessful attempt, the money was raised only after the interest rate on the bonds was raised by 1.25% to 7.75%, the deed of trust for the bonds was changed, and the accompanying terms were improved.
Tadmor's guarantee to be released
When the financing rounds were completed, Tadmor said, "Navitas is bringing an innovative model for investment in high-quality oil and gas in North America to the Israeli stock exchange, and we believe that together with the investors, we will build a prosperous public partnership."
Good bed time reading, enjoy!
See your friends have arrived ralphydude, I thought you wanted to discuss Navitas and funding, come on lets discuss!
Fair enough if its correct .
GOZZIE2, since when has your name been ralphydude? GOZZIE you are quite right with your observation, it hasn't come of the top of my head and I've got loads more, it's called research, simples!
Lol thats not just come off the top of his head .
O.K. ralphydude lets start discussing..........
Tadmor is acquiring full ownership of Navitas, which has projects in the Gulf of Mexico, from Delek Group.
Delek Drilling Limited Partnership (TASE: DEDR.L) chairman and Avner Oil and Gas LP (TASE: AVNR.L) CEO Gideon Tadmor is acquiring ownership of Navitas Petroleum from Delek Group Ltd. (TASE: DLEKG), and is considering both an IPO on the Tel Aviv Stock Exchange (TASE) and raising capital for the company, Delek Group reported to the TASE yesterday.
The company, currently jointly owned by Delek Group and Tadmor, holds the rights to 14 oil and gas exploration licenses in Louisiana and off the Texas and Louisiana shore in the Gulf of Mexico. The investment in the licenses totals $11 million.
The proceeds from the sale of Delek Group's share in Navitas to Tadmor is the par value of the transferred shares, plus contingent proceeds if capital is raised. If Navitas completes a financing round within 12 months of the completion of the deal at a company value of more than $100 million shortly following the round, Delek Group will be entitled to a one-time payment equal to 5% of the value of the company conducting the financing round.
In addition, Delek Group will be granted an option for a 30% partnership in an exploration project currently under consideration by Navitas.
Article written on 27 Oct, 2015 13:24 by Nadav Neuman
Gideon Tadmor co-founded Navitas and acts as the partnership's executive chairman. Gideon had previously served in a variety of leading roles, including as chairman of Delek Drilling Limited Partnership as well as founder and chairman of Avner Oil and Gas LP. Gideon has been one of the pioneers of the major natural gas discoveries, such as the Tamar and Leviathan natural gas fields, off the coast of Israel and Cyprus. He has been working together with his team in the exploration, development, and production of oil and gas assets for more than 30 years. Other founding partners at Navitas include: the CEO, Chanan Reichman, who previously served as Delek Energy's VP of business development; the deputy chairman, Koby Katz, who previously served as the director general of the Israeli Ministry of National Infrastructure, Energy, and Water as well as the co-CEO of Delek Energy and chairman of Delek Drilling; and the deputy CEO, Chanan Wolf, who previously served as head of M&A and capital markets at Ernst & Young.
Navitas Petroleum began trading on the Tel Aviv Stock Exchange in October 2017. Since then, the partnership has focused on acquiring proven O&G discoveries at various stages of development. Since its inception, Navitas has raised over NIS 1 billion of equity and debt in public markets. As of December 2018, Navitas' asset portfolio comprises 14 O&G assets, including exploration acreage and proven discoveries in Eastern Canada and in the United States' territorial waters in the Gulf of Mexico.
Their shareholders have no need to concern themselves with dilution,simples!