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It’s highly unlikely that any ‘new’ info will come from an AGM, and certainly nothing price sensitive.
I have emailed in the following questions because I don’t think I’m going to be able to make it now unfortunately but would be grateful if any attendees could pick these up:
1. In light of what’s happened with windfall taxes in the UK & Europe, have Navitas & Rockhopper got any assurances from FIG that the tax regime will remain stable for the foreseeable future?
2. A suitable FPSO clearly needs to be sourced - I understand that you are looking at repurposing an existing one. Has the partnership made any progress with this and have any potential FPSOs been identified?
3. Assuming the Italians drag out the arbitration process for as long as possible, when do you believe that Rockhopper will need to raise funds next? I realise that’s dependent on the uptake of warrants but a guide would be useful.
Can someone ask when FID will be taken on Sealion?... thats it nothing more..
However if you feel another one would be helpful, then try this..
Will owning a slug of this company be profitable within the next 12 months, and will a cash call be needed within that time frame.
Or
What is your expected timeline to receiving any usable cash, unencumbered by any Italian restriction, from the OM award as it stands curently.
Any flag being nailed to a wall on thoes questions would be great 👍
😆 BB3
Thanks Citizen, and to add, from the Navitas update, per barrel cost - life of field, Opex being the largest portion.
Capex: US$7.50
Opex: US$20.10
Total cost: US$27.60
Agree SH - though the detail is somewhat better than that!
The capex is not a cost in the years when the revenue comes in, but it is of course still a cost and can all be deducted and carried forward for tax
So ... no tax to pay till all capex expensed. Borrowings repaid by then and capex funded by equity also expensed.
Thereafter cash flow, and taxable profit, is basically brent less opex only.
ha, nice of you to seek clarification headder eh!
''Can somebody ask about oil shipping costs per bbl etc. and pricing for the oil and let us know? I felt it is important as I saw a poster recently, which believes that the 27$ phase 1 opex & capex costs are simply deducted from a 77$ brent price to give operating profit!''
Hello Header, it would be good if someone can answer you more accurately.
My understanding is capex and opex will cover all of the costs of getting the oil into a tanker, leaving as I said a 'gross' profit of price of cruse minus all lifting costs.
One still needs to remove tax and royalties of course, 9% royalty, 26% corporate tax.
Donalb
Fair point
Found out a mate has MND and got all at peace with the world after a couple of beers
Back in the room now
Boboil
Boboil, have enjoyed your informative & funny replies for the last year. That makes your last post telling us to behave around "other peoples logons" seems strange, especially from the guy that posted, "Dear lady Laxatives".
Are you posting about things not to say in order to protect us from getting banned/dis-connected ?
That is fair enough & much appreciated ? Best of luck, DAB
hi all
why does this board always end up with people ****ging off others
i am guilty too
but changing people’s logons to something else is childish
there are some great posts by people that know how oil/the market/trading works
opinions guesswork assumptions have been posted for years and mean nothing it’s down to the companies involved in it to sort it out
gla
boboil
Mmbr1 - missrule is on a mission of his own that's not the same thing at all as our shareholder interest.
Also thinks everyone else is not nearly as clever as he imagines himself to be.
Remember he's perfectly happy to talk rubbish to us and hope it works.
LaticsRule - That is madness. You may as well exercise the warrants, sell them immediately, then keep that on the side to re-invest when there is progress. It's essentially free money as it is right now.
Not too sure about that. My warrant money is staying in my pocket until I see proof that progress towards FID has been made.
Can somebody ask about oil shipping costs per bbl etc. and pricing for the oil and let us know?
I fell it is important as I saw a poster recently, which believes that the 27$ phase 1 opex & capex costs are simply deducted from a 77$ brent price to give operating profit!
Hi Auson,
I think the demand will increase towards end of the year.....IMHO
Anybody here attending the AGM on Thursday?
I’m going to try (slightly work dependent but should be fine).
Seems to be a bit of demand today,
13.38 paid and they were offering me more to sell than I could buy at 12.83 to 12.77 to buy.
My warrants have been exercised!
I'm 99% sure this has finally happened after 3 months because I called HSBC and complained. Even though they blamed Rockhopper I'm certain they were just being useless.
Moral of the story is if you plan to exercise your warrants then keep on top of your broker!
Totally agree. Navitas are completely different from PMO who kept promising this and promising that, then the timeline would get knocked back once again.
I cannot imagine all these new hires over the past year, would be giving up successful and stable careers to come to Navitas if they were just going through the motions! Ian Ramsey would feel a right numpty moving across and bringing a few further Murphy bods with him if Nav were just having a laugh!
I think baring some black swan event, it is now just a matter of when, not if Sea Lion starts pumping oil in the Falkland’s.
I just need to be able to hold on to as many of my shares as possible until then! Oh and Sam et All need to not sell out or get taken out prior to that time.
LTT
Agreed. Thanks PaulDrayton.
That is the thing about Navitas, good things are moving along behind the scenes,
however we don't see it until Navitas are ready to announce. But undoubtedly they aren't doing all this work to say, naar, 275,000,000 barrels at $50/bbl gross profit isn't worth our time.
Great work pauldrayton. Tom been at Cairn since 2010.
BrightSpot (borgo22) - whilst some nutters enjoyed your cryptic nonsense, there is no need for it anymore!
Look to Delek imo.
Anyone going to AGM Thursday? Have to work myself so can't get a holiday.
Anyway, i'm sure it's in some documentation somewhere but I can't find the tankering costs per bbl and also how (discount to wti?) the oil tracks benchmarks..... I can see the 27$ breakeven but does anybody actually know the likely netback or do you need to do some long-winded calculation using the npv once you deduce how the 'future cashflows' are discounted? There will be a Q&A won't there? Also would be good to get some insight into how the feed study is going as well as elaboration on the court proceedings......
Business progresses at a pace at Navitas. You can see the new Logistics Manager is now in place.
Look east was once the call and its the call again. An additional partner is not that far off.
Exciting times ahead. Oil will flow …..
Previously Logstics Manager for Cairn's Greenland project - sounds like he will be a great fit for the remote Falklands.
Hot Mustard
Logistics Manager with extensive international experience both in developed and developing regions covering Central and South America, West Africa, Norway and UK.
Core Skills: - Project Optimisation in terms of performance delivery, HSE and cost - Leadership and Assurance in Operations and Logistics - Project Delivery and Strategy Planning - Business Development - Client Relationship Management
Areas of Interest: - Offshore Support Vessels - Helicopters & Fixed Wings - Shorebase / Supply base - Inventory optimisation and management