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Someone stuck another label on his forehead and switched the cassette back on
Look I am no expert. All I do know is that we wont see FID next year nor will we see a penny in this legal case. Ovets care to bet against me?
Misunderstood the content of my post chessmess. Firstly everyone including myself expects at least a portion of the award to be sold at the right time. Nothing added there. More interesting is what might be got for that.
But secondly don't take your quoted historical example as something to extrapolate from.
Hey Chessmess, wouldn't be so inclined to talk in certainties. Not really how the world works you nay like to know.
Just consider, for example, that sometimes the future is different from the past ...
Wouldn't claim expertise beyond that of an educated layman but some of these cases have spent years establishing a precedents on Sovereign immunity for ICSID enforcement. In certain jurisdictions (eg Australia, UK) that defence is pretty much in shreds now.
Our circumstances are diffèrent. We'll be in the fortunate position of riding along in the wake of the trail and precedents already established.
That's what happens.
“ROI will 100% not opt to put a single euro in any Escrow account”
Well they may soon be faced with 3 choices ; 1)pay up, 2) put money in escrow, 3) have their stateowned assets seized…
See this article on how Cairn went about recovering what they were owed by India…
https://www.thehindu.com/business/Industry/cairn-identifies-70-billion-indian-assets-for-seizing-to-recover-amount-due-from-govt/article34572207.ece/amp/
“The Indian government naturally will challenge such seizure but to save the assets it may have to pawn money equivalent to the value of assets in some financial security such as bank guarantee. The court will return such a guarantee to India if it does not find merit in Cairn's case. But the surety will be passed on to Cairn if the court finds that India had failed to honour its obligation," a source said.“
By all accounts, Italys only hope is that ICSID annul their own ruling, and if I were a gambling man (I am), my money would be on that not happening
@Ovets … I don’t need to explain anything to you.
You are just an abused shareholder like me. Yes we all ‘hope’ that Sam achieves success but I have my doubts. He obviously does also as the Board would not declared the risk of warrants NOT being taken up thus denying RkH the funding to keep the ship afloat ( and pay Sam’s exorbitant salary ).
First day at FUD school?
What are the likelihoods of Italy opting to pay into Escrow? IMO, It appears to be relatively low, and potentially only serves as an initial step to exert pressure and prompt their active engagement in the process.
IMO, ROI may be more inclined to consider acquiring the company rather than ring-fencing the award in escrow.
Based on the current share price, there is a possibility that the company could be acquired at a cost significantly below the award's value.
Decidedleaverage, I have no particular allegiance with RKH and its management, except that as a shareholder, I wish them to do well and certainly better than they have in recent years.
I must correct you on one VERY important point: It wasn't RKH and its management who have 'cried wolf' as you put it, but the likes of Tony Durrant (PMO's CFO and then CEO), who made numerous announcements (usually in interviews and unofficial statements) about FID and SL project progress.
None of his predicted events (which had a dramatic effect on the RKH sp) ever came to fruition.
PMO just weren't up to the job and eventually went under because of excessive debt - something that hasn't happened to RKH, has it.
Harbour Energy (PMO's successor) weren't a lot better, announcing that SL was part of its Worldwide expansion strategy, even including maps of SL and the FI in their publicity. As with PMO, none of that materialised either, with HE finally giving up altogether.
You really cannot hold Sam Moody accountable for the PMO's dismal performance and HE changing their minds.
I expect you'll find that RKH and Sam in particular were as fed up as the rest of us.
I would add that Sam Moody has been extremely careful NOT to make unsupported and misleading announcements and promises. I would say that he has certainly NOT 'cried wolf'.
If you believe differently, then please give JUST ONE example where he has.
Now things really ARE happening, but unlike with PMO & HE, Navitas don't go around making meaningless, misleading announcements and promises.
If you still have a gripe, I suggest you have a shout at PMO and HE, while leaving RKH and Navitas to get on with their work without unnecessary distractions.
What did happen to godders? Didn't they supposedly own 1% of the co?
Who is George. I have no idea what you are referring to
Welcome back Godders.
Are you still buying?
Mogger
P.S. Say hi to George. He owes me a pint from his days in Oxford
Mogger
You should sell now and move on, why the bother?
I am holding cos I think £1+ once the oil flows from Sea lion....IMHO-DYOR
Ovets this all comes down to how much do you trust the management . Frankly they have cried wolf too many times and the Fact is we are STILL waiting for anything concrete to occur . Remember those letters of intent? What a joke
Latics - you need to explain your statement:
"PIs must either choose to take the warrants early or risk losing out. A small profit maybe and a promise of jam further along ….".
I understand how the warrants work, but it's clear from postings here that many do not, so may read your stuff as though it's true.
Now, please explain what you meant when you posted that.
"How do we know that anything is actually happening and that this isn't an elaborate Ponzi scheme?"
Good question - that's why doing your own research and actually contacting those who DO know something is so important.
If all people do is come here and read what Latics posts, then they're going to be seriously misled and probably in a panic.
As the wise guys say, DYOR and then join the discussion.
All this "progress" and yet the share price falls. I can guarantee this time next year we will be saying FID 2025 , then FID 2026 etc etc . How do we know that anything is actually happening and that this isn't an elaborate Ponzi scheme .
Do we know that Italy cant appeal the appeal? is it guaranteed that Italy Pay up next year if they lose the appeal? I rather think this will go on and on
Another worthless and abusive post by Latta.
The lepo won't change his (spot) post....Best to ignore....imho
@Schitizen …. I was referring to all warrants.
Please stop lying to satisfy your own anger management.
*walk down
Explain the in share price.
The only way to acquire Warrants was to participate in the open offer share sale, and you had to be an existing shareholder to do that. I don't think hedge funds fell into that category after the odious Odey sold up.
So how are these mysterious "hedge funds" in the background creaming cash off private investors?
A full and referenced explanation would help me understand how, as you assert, that AIM is skewed against private investors, when a share is a share, irrespective of whose name is attached to it.
Look forward to it.
A week or two ago you were bleating about the hedge funds etc NOT taking the warrants
make your mind up
As we all know. AIM is skewed against the PIs. In the background the large hedge funds take loads of warrants and shares and off load these to the peasants as the price is gradually dropped back down to where the RKH board will set the next offer. RKH have no control having given it to Navitas.
PIs must either choose to take the warrants early or risk losing out. A small profit maybe and a promise of jam further along ….
July 10, 2023 - The ad hoc Committee issues Procedural Order No. 2 concerning the termination of the stay of enforcement of the award.
WRT the Rns saying
'provided that Italy does not within those 5 business days submit a reasoned written objection in these annulment proceedings that the escrow arrangements established are not in accordance with the proposed arrangements.'
It is unlikely Rock will err in opening the escrow account, however I half hope ROI do make up some Micky Mouse objection, as it will possibly again, irritate ICSID representatives.