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Sorry meant “Doesn’t effect the outcome” Fat fingers and iPhone typing don’t mix well!
Morning all,
I also would like to think they would lift the Stay as it’s going on 6 years since the start of proceeding, waiting so long , getting a unanimous decision, then have the ROI request and an annulment AND THEN Have the Stay extended would be a bit of a kick in the teeth!
Of course it does effect the outcome and it’s only 8 months or so to final decision, but it could set a precedent that needs nipping in the bud IMHO
LTT
It look like a continuation of the stay to me, given the ‘status of proceeding’ is still ‘pending’
Sam’s probably busy trying to re-arrange his tee off time.
I imagine there will be a leak and early trading will indicate how the decision has gone
Thanks DEM, good to know ICSID have made a decision. I am more optimistic, >50% chance that the stay will be lifted given the very clear, unanimous conclusions of the original case. Unless our highly respected and experienced lawyers have messed somehow, then I feel this is just Italy trying to avoid the inevitable.
I hope we find out today and I guess an RNS can come anytime during the day once Rock have analysed the decision with their lawyers.
Thanks DEM and Daikhaku1
I agree it's a 99% chance of a continuing stay while an appeal is heard. It doesn't change anything.
I believe that eventually the award will be enforced and we'll be accruing interest while any appeal is heard so all looking good. For me, the main course is Sea Lion not the legal shenanigans.
All IMHO DYOR
Happy
Hoping luck is on our side for a change!
Looks like a 7am RNS then. I fully expect the stay to remain, but it changes nothing for me. If the stay is lifted, then happy days, but I am in this for the Sea Lion oil to be monetised, so this OM case is merely an interesting sideshow. I think a lot of people are sleeping on RKH and how the game has changed this past year…
April 24, 2023
"The ad hoc Committee issues a decision on concerning the continuation of the stay of enforcement of the award".
https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/17/14
I assume that an RNS from RKH will be released very shortly.
DEM
ps
With the company AGM now only eight weeks away, the creation by Glenrothes1869 of yet another family of Aliases is timely. However, I fail to be persuaded that this leopard has changed it's spots, nor abandoned its hare-brained schemes to gain control of RKH on behalf of whoever the Pied Piper is this time. Once a crackpot, always a ......... !
Thank you all for your replies.
Latics, I appreciate the person wasn't you
Boboil, thanks for advising it was Glenrothes
Ovets, if what you say is true (Glenrothes was trying to take control), then although he may have all the information he is probably not suitable to organise us to fight against a takeover. I agree there are most likely those who would try to pick up RKH form us at a steal. Hence my concern and wanting us to organise in plenty of time. In light of your comments maybe your suggestion is the best way forward... to come to a consensus on a realistic valuation.
Mogger, thanks for the heads up.
Latics and Glenrothes, I'm not taking any sides here, but there is a lot a stake so best to be cautious.
Citizen, I'm not trying to throw a spanner in the works. Far from it. I think things are looking good for RKH shareholders. I see a cheap takeover as the spanner in the works and I'm just looking to plan to fight against any such attempt. We are the ones who have stuck with this share and deserve to reap the rewards that I believe are coming.
Orient, a year or so ago I would have been 100% with you, but since Navitas replaced Premier things have completely turned around for us. I don't want to be rid of this share. At the right price I'd happily sell, but for me it would have to be at least £1. I think on Sealion alone at the current estimate of reserves/oil price, etc £2 would be unrelistic, so the days on £4 - £5 have for the time being gone. If revenues from Sealion are used to develop other licenses then maybe at some point in the distant future we may see those prices again. I remember following a link on her recently where a risked price of 50p and unrisked price of £1.88 was mentioned (I may have gotten those the wrong way round). I did a rough calculation myself after the last Navitas presentation and I came to a profit per RKH share of c. £2.20 per share, so a share price of £1.88 seemed a reasonable top end.
BuildersBum, if I were a short term trader I could well agree with you, but I'm long term (have never wanted to risk being out of this play). £1 on Fid would start to get my attention - possibly partially sell off some of my shares, but definitely not all of them.
Diver, I'd love it if we achieved that but can't see it on Sealion alone as things stand, but if you factor in the potential of other fields your target of £2 could well be feasible.
Best wishes all and thank you again for your input. Please don't sell out too cheap.
Oil_Up
£2 minimum, nothing less after all these years
I'd take 40p right now, 50p on the stay being lifted, and 60p on a failed attempt to get the award annulled, £1 on fid, and £2 on first oil.
Reality will be a sell down of 20% at each. Lol
BB3
I bet there is a few of us who would love a take-over and rid us from this..i'll be glad to finally see the back of it after years of holding!
200 million price tag..equates to around 34p that will do :-)
We are holding both RKH & PRD shareholdings, Silverfoil13,.....agree, both are potentially multibaggers,(IM0).
BW
Just love it when you admit you are wrong TSCitizen.
Thank you
II are showing a close price of 12.5p I wonder if a large buy will show up after close?
No surprise that Glenrothes/LatinsRule/Oil Upp or whoever they are start trying to throw a spanner in the works as we await news.
Last time we had to wait, the good arbitrators were polishing their written work for a decision that prioritised justice over leaving things unchanged.
I have to fancy that's where we are now :)!
Moggy, I correct you. Sam is actually a nice chap just pants at managing an Company. His early hopes for FTSE250 membership revealed his naivety in management terms. Blaming others at AGMs for the wrong slides often reveals more about a man character.
I get things wrong, I admit but common decency and courtesy is a fundamental, in my view.
Those who ‘deliberately’ get the name wrong, have only themselves to blame when it gets returned … and it will, rest assured. I naively accepted CitizenST offer of a truce, only for him to retract . The man has no honour.
It is in your hands, gentlemen.
Oil-Up,
Glenrothes/Latics and all the "others" who created accounts on the 16th/17th November successfully phished a lot of information from private investors and then tried to force Rockhopper into accepting an EGM.
Fortunately the law was against them and when I suggested that the only way forward was to remove their shares from their nominated accounts and hold under their own names, Glenrothes went very quiet and deleted his account. This was after paying for a solicitor who had direct links to climate change activists.
Glen's spokesperson is our friend Latics so if you want all the details then he would be the best person to speak to.
Unfortunately though, Latics can't remember how many shares he holds, or how much he has lost whilst holding them, for a period of time that also varies. A common trait among all those that litter this board with their constant drivel.
He does, however, feel the need to remind everyone, on a near daily basis, that he believes that Rockhopper's management are the most unpleasant and incompetent people he has ever met.
I hope that helps
Mogger
It was definitely Glenrothes and he harvested a lot of PI details in his attempt to take control, when many PIs were desperate.
I think it was DEM who saw through his possible plan, but others may correct me.
Whatever the exact facts, there are undoubtedly those out there who would try and pick up RKH on the cheap and then, having got rid of us, seriously cash-in as SL moves to production.
Those like Glenrothes would offer what some smaller PIs might consider a 'good price' for their shares, but would actually be daylight robbery.
One way of helping to defend ourselves from Glenrothes and his aliases / successors is to try and arrive at a realistic valuation for RKH shares, so that the weaker, or more impatient shareholders don't sell us out, to a bunch of thieves, for peanuts.
Better than no brain cels like you, Noboil. Don’t give it if you can’t take it.
Better than Predator Oil and Gas? I think they might both be multiple baggers this year!
This is going to 10-bag this year and we are all going to be richer. When the FOMO hoardes converge on this BB, as they surely will, this will get a deserved re-rating.
Best O&G play bar none in the market today. Risk-reward is off the chart.
All IMHO DYOR
Happy
hi oil-up i have no idea it was just jesting its quite day in the office.
But you will see from laticsRules post he is uber negative
Coming from you, Noboil, that’s a compliment.