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Well done Alma!
And Chess ... I don't know why you are acting like you do. It couldn't hurt pointing out something like this. Better be safe than sorry. And your negativity about FIG is also strange. During some earlier AGM it became clear that it's extremely unlikely that RKH will have to pay taxes on something that they didn't receive, but that it does reduces the chance of a hostile takeover. Sam has great connections with Fig and I'm confident that they take great care in the timing of certain events.
Chess,
I think the jury is out on this one, seems amazing timing that Alma sends an email and the within a week the matter is sorted. Maybe Navitas dropped the ball on this one, they are a Israeli company, working in the states, Gideon wouldn’t be aware of the rules, someone way, way down the pecking order will have been in charge, so make fun all you want of Alma, but we will never know if they did it themselves or got a nudge.
LTT
Exactly like I said Alma, whyever you got yr knickers in a panicky twist over this I have no idea !
To think that a multi-billion company would forget their accounts and need to be reminded by yourself was always Preposterous beyond human imagination.
Listen to yr Daddy in future 😉
Chess
What are the implications of signing it off quickly?
Wouldn’t have got their money if it was a reduced amount because we didn’t have any. Wiping it out might mean RKH Became an easy target for a takeout as they had no liabilities to them.
Maybe they’re working together in the best interest of each other
GLA
Boboil
Many thanks AlmaCogan, seems like a case of the right hand didn’t know what the left hand was doing…… or in this case the left hand wasn’t doing anything at all!
Thank you for being on the ball.
LTT
Sometimes taking matters into your own hand works. See below
STRIKING OFF ACTION DISCONTINUED
08138246 NAVITAS PETROLEUM DEVELOPIWNT AND PRODUCTION LTD
Cause has been shown why the above company should not be struck off the register and accordingly the Registrar is taking no further action under section 1000 of the Companies Act 2006 pursuant to the
Notice dated 03/05/2024
Todays little dip for no reason ?
SNO ; I would like & hope that FIG are indeed our friends and working with, not against us but its unfortunately not the impression I'm getting.
3 years (and still not signed) to sign a very simple tax ammendment seems unfair to me & I'm it's looking like OM sign off is going yo the wire or possibly beyond.
Hopefully, they are all working togeth
RKH share price holding up well.
12p coming soooooooooon.
BIG NEWS Coming out 2024.
Year end price. 28p.
Remember where you heard it first.
Bigfred right again.
Noboil. Serial loser. Simple. Yes he is.
Milei insisted that Argentina was “a country open to trade relations with the whole world, which is also the best possible guarantee of perpetuating collaboration
https://en.mercopress.com/2024/05/07/argentina-is-the-promised-land-for-businesspeople-milei-says
Agree StillNeedOil, the tone of this thread is a bit disrespectful tbh
Morning all
With the visits of Navitas and Sam Over the past year, do you not think that the partnership is strong? Hence, rather than being slow or Hillbilly like they are actually working together. All of the events that need to happen are independent of each other and could happen pretty much simultaneously which would be very much too our advantage, Argentina StopOil other potential opposers wouldn’t have time to react or kick up a fuss. Due to the Israeli Link now wouldn’t be the best time for this to hit headlines hopefully things calm down over there and that would be a much better time to release News.
Also wouldn’t call them hillbillies they’re supposed to be our friends
Just a thought
GLA
Boboil
FIG runs like a church parish. Time to grow up.
Give us a royalty holiday. Waive that tax. Sign off the OM award monetisation.
Patience
I expect Navitas to force the stubborn Hillbillies to sign OM off before the deadline as it could have a detrimental effect on the project if they continue to refuse.
As for the Tax Ammendment, I don't see the Hillbillies giving any ground on this and it may have to go to arbitration.They have refused to accept the tax ammendment for 3 years now and I don't see them accepting it anytime soon.
One thing's for sure though, FIG is most certainly not our friend & they don't appreciate that Rkh (& Premier) have already spent a Billion on the project without seeing a pennny return, the Hillbillies simply think every listed corporate entity are eternally capital rich and out to take advantage of them and pull their Hillbilly pants down so they fight tooth & nail on all & every issue as proven with OM & Tax Ammendment.
You're not missing anything LLT. FIG signing off, so OM is monetised, is easily the best outcome for Rock.
With that said, FIG not signing off by the termination option date, does not mean that either side will automatically terminate. Both sides must see the benefits in the deal otherwise they would not have agreed in the first place.
FIG are embarrassing themselves other this, but even they must see that ultimately both Rock and FIG will benefit from a more financially secure Rochhopper.
ChessMaster,
how can FIG sign off be irrelevant? If they sign off we get 15m Euros straight away in our account and our funders and lawyers paid off. Then we have a possible further 65m Euros if the annulment goes in our favour.
If FIG don't sign off and the monetisation falls through and they walk away, we are left with the funders and lawyers wanting their cash. Even if the funders wait until we get the money from the ROI, how would we fund going after their assets? We would have further dilution and many years of courtroom dramas to deal with before seeing a penny, or in this case a Euro!
So am I missing something?
Regards
LTT
LTT ; Whether FIG decide to sign off OM or not is irrelevant as from the 30.6.24 either side has the right to terminate the agreement so FIG actually have no say in the matter, although I expect the power hungry Hillbillies to sign beforehand , if only to save face but as I said, it's irrelevant what they decide to do or not to do on the matter.
As for OM, I would say 70% chance of Q4, with Oct being the favourite month, and 15% chance of before or after.
As for OILs 24 price prediction, its as valid as anyone else's at this point in time,although I do not concur with it but if it all lands in 2025, so be it, I will accept that .
Personally, I'm going with the month Sam gave me, give or take a month and I'm going with Navitas's stated timelines on FID with Funding being announced a month or so before but that's just my take and its no more right than OILs until proven otherwise.
After a fall back over the past few weeks, Navitas share price is on the turn again. Well they be holding an investors day anytime soon? To rattle the tin and talk up “ The next big thing” as it’s about time! 🤔
LTT
OIL, I would hope not, 13p at the end of 2024 would be a terrible result.
It would mean no word on OM annulment result; no sign off by FIG on the OM deal which would surely mean the monetisation deal would fall through, plus it would mean no funding/FID on Sea Lionth is year, which would ultimately mean a slip into 2027/28 for first oil at the earliest!
So I am hoping that you are totally wrong on this one I’m afraid. Just one of those boxes getting ticked and we would be saying goodbye to 14p IMHO.
Kinds regards
LTT
Up 25% from 2023. 13p is the price for this year.
Patience
I’m thinking OM *must* FIN this year (within next few mths). And who knows for the FI stuff.
Https://www.bbc.co.uk/news/articles/ce43zv3qln9o
Persnally don't think he's interested in FI at all, just says he is to keep the people happy.
''and Rockhopper & the specialist funder are FIG free on OM.''
''I see this as good news and it matters not whether FIG comply or they don't.''
I don't see FIG not signing off on the monitisation, as a good thing.
Monitisation, regardless of the award result, ensure Rock a minimum Eur15m and potentially many 10's of Eur-millions more. Not signing off exposes Rock to getting in a worst, very unlikely case, nothing. Or a better position to get more from by selling perhaps the whole uncontestable award. Rock need certainty, much more than the potential of a few extra Eur-millions.
From nearly every perspective, FIG's pathetic dithering on this suggests they are blindingly short-sighted 3rd rate junior managers.
Of course, FIG have also still yet to sign off the Tax ammendment for the free carry rkh never had.
FIGs been 3 years on this issue now and it would be good if this is resolved too.
I suspect Sam's recent trip to the FIs was related to both OM & the Tax Ammendment so hopefully we may hear something soon.
Naturally, the ammendment will have to be put through both legal teams & well as the necessary departments at FIG so this may take longer than the OM sign off,but nevertheless, I fully expect the ammendment to result in £0 owed -regardless of how long FIG take on the matter.
Well, it's perhaps somewhat on the ambiguous side but my take is that FIG have to legally sign OM by the 30.6.24 otherwise either side has the right to terminate the existing agreement.
Hence, if FiG don't sign (non completion) Rkh will use proceeds of the award to pay special funders legal costs 'they have incurred in the process'.
It cannot be to do with the annulment decision as the panel will never give a fixed date by which they will make a decision, so that's simple.
So to me, FIG have been dragging their feet signing OM off so the specialist funder has used a legal team to resolve the matter, hence, the 30.6.24 deadline for FIG to sign,otherwise the existing agreement can be terminated by both parties and Rockhopper & the specialist funder are FIG free on OM.
It's the FIG being slow & stubborn again but The Rockhopper team's got some big friends in the Specialist Funder on this and they will not be messed around by stubborn FIG Hillbillies, so whether FIG comply or not, the existing agreement expires on the 30 6.24. So that should be the latest date FIG can drag signing OM off .
It's important for both Rkh & the Specialisf funder that they are not hindered by FIG on this matter as Rkh will need the cash to fund its share of the costs and the Specialist Funder needs full authority over OM before it will pay Rkh so legal enforcement had to be implemented by the Specialist Funder to resolve the matter and it will recover these costs from the award proceeds.
I see this as good news and it matters not whether FIG comply or they don't.
Roll on the OM Decision now this irritating issue with FIG has been resolved.