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Https://www.offshore-energy.biz/watch-transocean-crew-talks-about-first-8th-gen-drillships-voyage-from-shipyard-to-ops-in-gulf-of-mexico/
O.K, so I was off by 10K$.
Doesn't mean s&p is infallable. How did you get the info anyway? That didn't come from the navvy website, good spot by the way, not making things up as far as i'm aware.......
Tut tut Mogger … I’ve been silent but if you poke me .. you know I’d normally respond.
But on this occasion, you’re lucky, Sir. I said let’s wait for the Navitas update before we comment.
Respectfully I suggest you do the same.
Headder,
I'm not sure you where you are getting your information from, but here is the latest Standard & Poor assessment from a week ago
"Rating forecast:-
The stable rating forecast reflects our assessment that the start of production from the Shenandoah reservoir will be at the planned date at the end of , 2024 without a substantial cost overrun. Also, the stable rating outlook reflects our assessment that the partnership will maintain . For adequate liquidity in the next 12 months and for adequate operational performance from its active assets. We appreciate that Navitas will present high leverage in 2023-2024, at the peak of which it is expected to reach an adjusted ratio of debt to EBITDA of x-9.2x9.7 in 2023 - but we expect that it will decrease significantly with the start of production."
"The development of the Shenandoah reservoir is at this stage meeting the established timetables, and the start of production from the reservoir is expected at the end 2024."
And in reference to your information on the Deepwater Atlas dayrates, that is also wrong.
Please don't make things up like Latics and Godders
https://maya.tase.co.il/reports/details/1557840/2/0
https://www.deepwater.com/documents/FleetStatusReport/FSR%20-%20Oct.%2018%2C%202023%20FINAL.pdf
Mogger
Might start to get an indication now whether the project is 'on schedule and within budget' or if the goal posts are moving on Shenandoah within the next 2 updates.... Think the drilling was still goin gon in August which was supposed to be finished. Also, the transocean drillship was renegotiated to 450$ per day from 320$ For the final '12 Months'. That's just the stuff we know about.
Things might get volatile!
Argentina has enough problems without David Cameron talking his woke hug a husky nonsense. And Cameron loves China too much to be of any use.
I think that this election has given Navitas 4 years of political cover to get Sealion into production without much interference from the Casa Rosada in Buenos Aires. For sure Milei won't last beyond one term in office before the Peronists get back, but during that time the chaos will provide more than enough of a political blackout curtain to get things done.
If David Cameron has the balls he was born with, he ought to off to BA to congratulate the guy.
Reduction in political risk with this news ought to be enough to let the warrant holders exercise and sell without smashing the SP.
All,
Q3 results will be out on 26th November
https://maya.tase.co.il/reports/details/1558617/1/0
Mogger
Absolutely - Milei has only got 4 years before they try someone else. He'll be electioneering before he's done anything worthwhile.
Argentina try-on new presidents the way the Mrs tries new shoes (although I wish she would wait 4 years, instead of 4 weeks).
Would you trust a politition .... from any country , they say anything to get elected.
Consider the 2 lines quoted here ;'
Falkland Islanders' rights 'will be respected if Javier Milei wins Argentina elections'
Top adviser to the presidential candidate tells The Telegraph that the Islanders should have a say in their own destiny''
The Islanders either have "rights " or a "say".
So they have a "say" in their independence or have "rights " to their independence .
Till the issue crops up he will say nowt, but when it dies then the real political truth will emerge.
Of interest in The Guardian via Tim Worstall: A Jersey-based oil-refining company is suing the EU, Germany and Denmark through ECT. Features epic wailing from EU apparatchik.
https://www.timworstall.com/2023/11/lying-bastards-thieves/
Fin
No less than 5 articles in Mercopress reporting on the victory by the far right Libertarian Presidential Candidate Javier Milei over Sergio Massa in the runoff elections in Argentina.
https://en.mercopress.com/argentina
Milei succeeds President Fernández on December 10th. The Workers' Party left-wing leader had openly supported the losing Peronist candidate Sergio Massa. With 97% of the votes counted, Milei beat Massa by 55.76% to 44.23%. A convincing win - probably aided by strong support from former President Macri and former Centrist hopeful Patricia Bullrich, who failed to make the cut at the Oct. 22 general elections.
Since the return of democratic rule and in terms of percentages, Milei became the most voted candidate ever: Javier Milei (2023 - 55.7%), Cristina Fernández de Kirchner (2011 - 54.1%), Raúl Alfonsín (1983 - 51.7%), Mauricio Macri (2015 - 51.3%) etc
During the final electoral debate before Sunday’s election, Milei praised Margaret Thatcher as one of “the great leaders in the history of humanity.” Milei – a self-described anarcho-capitalist – has frequently expressed admiration for Thatcher’s free-market policies. But she is still reviled in Argentina for ordering the sinking of the General Belgrano cruiser, killing 323 people on board, during the 1982 war with the UK over the Falkland Islands.
As regards the Falklands - Milei told La Nacion: "What do I propose? Argentina's sovereignty over the Malvinas Islands is non-negotiable. The Malvinas are Argentine. Now we have to see how we are going to get them back. It is clear that the war option is not a solution.
"What we are proposing is to move towards a solution like the one England had with China over the Hong Kong issue and that in this context the position of the people who live on the islands cannot be ignored. You cannot deny that those people are there. You cannot disregard those human beings.
"You have to negotiate with Britain and consider the views of the people who live on the islands. If I am saying that the Malvinas are Argentine, why are there any doubts? I am saying something that is in the national constitution. We are looking for a solution for the Malvinas Islands to return to Argentina through diplomacy, a solution that is viable, that is achievable."
All things considered, Milei's victory is probably good news for the Falklands. There was no way any of the Candidates were going to suggest dropping the Argentine claim to ownership of the Malvinas. In stating that the views of the Falklands population must be taken into account - I suspect that UKGOV and FIG will breathe a sigh of relief. In any case the outgoing government leaves behind annual inflation of 142.7%, poverty above 40%, a Gross Domestic Product (GDP) 2.2% lower than in 2019, negative BCRA reserves, and a negative foreign trade balance. So, I think that South Atlantic affairs will be be consigned to the back burner.
DEM
Libertarians (or a pseudo-libertarian in this case) are a common enough recourse for a desperate electorate but banning abortion is most definitely not a libertarian principle: merely a toady sliming up to the strange cult based in the Vatican.
Still, major oil companies bend over for just about anyone therefore operations in the Malvinas Basin should continue which is a good thing for the region.
There is a lot of confusion here between Conservatism and Libertarianism...
He's certainly a breath of fresh air, as far as Latin American politics is concerned, although the leftie Biased Broadcasting Company, Sly News and Guardian are of course, calling him Far Right.
He said in one of the debates that Thatcher was a great leader, and here is what he said about the Falklands
''Falkland Islanders' rights 'will be respected if Javier Milei wins Argentina elections'
Top adviser to the presidential candidate tells The Telegraph that the Islanders should have a say in their own destiny''
https://www.telegraph.co.uk/world-news/2023/09/10/falklands-islanders-rights-respected-if-javier-milei-wins/
He is also anti communist and anti Chinese which makes a change for Latin America. Will be interesting how it goes, certainly a maverick from the sounds of it.
Good news for FI development I think as I don’t think he is so paranoid about the Malvinas realising his country has bigger issues to address!
He's won, but with that hairstyle he should get on fine with Sam Moody!!
Don't believe this is critical but a Milei win would certainly help
https://www.theguardian.com/world/2023/nov/19/argentina-presidential-election-javier-milei-sergio-massa
My 36k's worth executed this week. It was a no brainier to hang on, get the bank interest and wait till the end of the year
I would be surprised if any of the remaining warrants are not exercised.
Even warrant holders that no longer like Rockhopper can buy the shares (via warrant) for 9p and sell the RKH shares for 11.5p.
Thanks for the video analysis RT.
I can only speak for myself, however as documented, I waited until just recently to exercise my 54,500, £4,900 worth of warrants, which now sit in my Hargreaves account. I suspect many pi's, and certainty the ii's, will have kept their cash available until the last moments.
Of the 50m outstanding, I would be surprised in less than 40m weren't exercised, meaning another £3.9m for Rock.
Of course if required Rock could easily issue, dilute another 5% equity, which at current 11.5p would bring in £3.5m, so funding is I feel, not a big concern. Other options are available such as delayed payments, debt funding, small % sale of Sea Lion, all or part % sale of arbitration award, Italy pay up, Italy settle award.
Hi Rogue_rader - You recommend taking advise from an investment professional. They should point out the following:-
The Warrants are technically American Call Options. Option pricing theory shows that it is optimal to exercise American Call Options at/near expiry.
A search on the web for "optimal exercise of American Call Options" will confirm.
Ref your YT. Strongly disagree. Shame you are out of RKH.
1. FID
Navitas delivers. See track record. See Ian's & Gideon's bio.
Shenandoah FID was done in a tougher macro environment.
2. Energy security
UK & Israel both need the oil & gas.
3. OM Award
Has a market value even before annulment decision. Interest accrues.
Patience.
@stillneedoil … Coming from you, Sir, THAT is a compliment. Thank you.
New Update on Rockhopper: https://www.youtube.com/watch?v=wUOGkQPosyE
Constructive Feedback would be appreciated!
latics you are a ****womble