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Chessmaster most small oiler bb's are, as you will have observed, appear to attract individuals from a wide range of educational and post school backgrounds: if anything slewed towards Joe Normal. Nothing wrong with that of course but the rancour against your calm and rational posts has to be ignored if possible.
That said, why should serial daftness be tolerated? Fwiw I held and traded RKH before the 'cuck'down, even attending a couple of AGMs. During one AGM a fat sweaty bloke turned up an hour late and called the board f******g c***s!! Can't remember exactly when '18 or '19 but UKEF came up, the board didn't say much but the non verbal clues where all there.
Sold the whole pile in the low twenties while waiting for the lift haha! Bought them all back under about 10-12p, took the warrants and exercised them.
The future looks great now but there are many many PI's deeply underwater after the early days hyping. That might explain at least some of the angst if not the shouty nonsense.
Decided, if you really wanted to be there London is only just down the M4, more accessible to Wiltshire than 90% of the country. Come to that he'd be quite within his rights to hold it on Stanley.
Not that it would matter in the slightest if huge numbers of PIs turned up. Sam has the Constitution sewn up so tightly that effectively he controls the decisions …. Such as bonuses for FID progress or lack of it as the case maybe. Same with OM judgement … another reason for the BoD to reward themselves.
Wait and see.
Nice little earner.
Wiltshire is hardly accessible for people with jobs in london
Yesterday, there were a bunch of trades with only one second apart. I wouldn't be surprised if those were the warrant. Then it means that warrants are exercised around the 19th each month
Why don't you ask Sam in person? The AGM is next week.
Where is the progress on FID. Every year for the past decade the board have talked about the progress they have ade on securing FID and yet i still don't see any proof. How about an update. How do I kow this isn't all a big . When should I expect FID? TRhis year, the next ???
Chess
Don’t think I threw insults at you.. but as you point out it was upvoted a lot which leads me to believe that in the main it was true
GLA
Talking about himself in the third person!
Always a good sign. Jeez
Haven't heard from Oilsup for a while .. . Hope he is well.
Oscar; Good point but they will only get around 20% of the value if they sell the award.
Take out Harbour's 35% and Rkh would only get around £40million, not an insignificant amount and much needed but giving away 80% of the award would be a difficult decision for the BODs to make, especially after seeeing Cairn's successful outcome recently.
Stillneedoil; What a pathetic, stupid post and the fact all the lemmings voted it up shows the ignorance and silliness of the posters who agreed with this ridiculous & 'untrue' statement from Stillneedoil.
Rational to Sell the Award when cash is required.
Chess
Let’s try and simplify this for you which one shouldn’t have to do if you are a British Chessmaster
NO ONE CARES rightly or wrongly no one cares
RKH don’t care
The solicitors don’t care
The rest of this board don’t care
I don’t care
The OM money will rock up one way or another if the award stays in RKHs favour
Research all you want but NO ONE CARES
GLA
D, The Chessmaster is not here to influence anyone's positions. He is here to enlighten posters, who might otherwise be suffering delutions on when payment from ROI can be expected.
Of course, OM is a side show, albeit a pleasant one that should, in time, return a handsome gain for holders and you are indeed correct,the main theatre of interest over the next few years will be SL & the FID milestone.
Of course, being a Master, my powers of foresight are considerable and I expect The Rock to be taken out well before production in the South Atlantic begins.
Chess,
“ But let us not get obsessed with Alter Egos, there's also the possibility of the award being reduced on annulment to discuss or whether the Italians will delay annulment by not paying fees on time and not attendimg court for the sovereign immunty hearings after annulment, thus buying themselves another 2/3/4 or whatever years time.”
You are right, there is no point obsessing over that possibility as we will be cracking on with FID on Sealion regardless while increasing the award by approximately EUR 1,5 mio in interest per month.. your concerns are duly noted, but I’m afraid you will find it futile to try to influence anyone’s positions in here. Most here are battlescarred veteran Rockhoppers and we are used to wait for years on end and we are used to alter egos - in fact some here have numerous. The award is a sideshow to the rkh story as a man/woman with your thoroughness and intellect would know. So even if the award was annulled tomorrow, very few of us would sell. You are wasting your time - and everyone of us who is bored enough to reply you
Chessmess is a time waster
Nick, I'm not being negative , I'm being realistic on what course of action ROI are likely to take.
There is nothing negative about it, its simply how the process will likely play out and we would all do exactly the same as ROI If we were in there position.
I am happily holding Rockhopper and their prospects for SL have never looked better but I don't forsee any capital coming from ROI for 3 to 5 years at the earliest, so capital raises will be required and /or maybe the firesale or partial firesale of the award .
There's nothing negative about exploring anticipated future scenarios with one's investments.
Take Out is also a possibility to consider and may come from Delek or Navitas. I can't see why these oil guys would want to partner a potless Rkh, who have no production experience and can add little, if any value to bringing SL to production, better for them to remove rkh and have 100% between them.
Well, I didn't expect that you would acknowledge that 'Alter Egos' are used by States and have to be proven by time consuming, costly asset tracing paper trails in courts before any assets can be seized.
But the fact is The US judge said the four companies had proven that PDVSA was an 'Alter Ego' of the Venezuelan government and on that factual point I rest my case on this pedantic point that you find so difficult to accept ;_)
But let us not get obsessed with Alter Egos, there's also the possibility of the award being reduced on annulment to discuss or whether the Italians will delay annulment by not paying fees on time and not attendimg court for the sovereign immunty hearings after annulment, thus buying themselves another 2/3/4 or whatever years time.
When someone new comes on, informing us of the negative side of what might happen it always make me feel positive. The chances of an annulment are tiny, even if this remote chance happens, (given the ROIs behaviour so far) I think any reduction % would also be extremely tiny.
The fact is the claim is just a side dish, it’s the main course that’s going to be so tasty that the very thought of it will satisfy any hunger. FID within 12 months is the complete game changer. knives and forks at the ready, table is being prepared.
GLA
Chess,
This will be my last post on this subject.
The case you mention has absolutely nothing to do with a state(Venezuela) hiding assets . It is about US and Canadian companies being allowed to seize assets from a US subsidiary of a state owned oil company PDVSA.
At no point did Venezuela try and hide the asset.
https://www.reuters.com/business/energy/more-venezuela-creditors-granted-right-seize-citgo-shares-if-sanctions-change-2023-03-24/
Mogger
CitizenTS thanks for confirming. It’s a fault being too polite, I know, but it has served me well.
Yeh yeh laticsfule, as we know you're always unfailingly polite to anyone who disagrees with your gospel !
Ohh and of course how could I forget dear old Ovets He’s usually late though when the others decide to verbally kick a man for standing his ground and merely stating his opinion which they disagree with.
Also worthy of debate is that whilst the annulment commitee are extremely unlikely to annul the award, they may reduce it.
The ISCID Annulment Committee in the Exon/Venezuela arbitration case reduced the award from $1.4 Billion to $188mln after 3 years deliberation !
So whilst the percentage of cases annulled by the comitee is very small, the percentage of reduced awards may not be as small.
Venezuela v ConocoPhillips is another case worthy of note.
Awarded $8.5 Billion , Venezuela managed to delay annulment proceedings by failing to pay the fees on time.
ConocoPhillips then took steps to enforce the award (like rkh will do) in court and they delayed that for more than 2 years by their lawers not appearing in court....
AND THIS ONE IS FOR MOGGSY....
Quote ' Crystalles has secured a court-ordered sales procedure after a Delaware court accepted that the $8Billion worth CITGO is an 'ALTER EGO' of the Venezuelan state and thus liable to be seized.'The Canadian miner won $1.4 Billion.
Quote' In the case of ConocoPhillips $8.5Billion award, the oil company would have to prove the ALTER EGO 'again' in court before being able to collect shares from the subsidiary " !
There are your facts, they do try to hide assets using Alter egos exactly like I said, never doubt a British Chess Champion :_)
I can't believe you haven't heard about any of this well known Alter Ego skulduggery online before ? , it only took me 10 mins to search a few out for you.
Make no mistake, these States will do everything possible not to pay !