Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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which is worth 80-95p onto the share price
however most likely outcome is that 50% is granted therefore 40-50p value added to this share
that would certainly screw the shorters
read the arbitration case 350 million
Since 2017 UK-based oil and gas company Rockhopper Exploration has been suing Italy over the state’s refusal to grant it a concession for oil drilling in the Adriatic Sea. The refusal came after the Italian Parliament banned all new oil and gas operations near the country’s coast, amidst concerns regarding the environment, earthquake risks, local fisheries, and tourism as well as strong opposition from local residents. Rockhopper is claiming up to US$350 million in damages – more than seven times the money which it allegedly spent on exploring the project.
Olliesky,
If it ain't broke don't fix it ?
cyan2,
I find this comment intriguing 'Timescale of award will be the same so wont effect.'
Won't effect what, being a smart arse I can only assume that the only thing a fixed timescale so size of award won't effect would be Ollieskys trading strategy. Which I could also assume is to buy back in later having previously sold out at a loss.
Olliesky wrote;
"Listen smart arse"
i refer you back to another of your useless contributions;
RE: RKH08 Oct 2019 18:37
"Bootlejobdodger
I don't need an idiot like you to agree with my opinions. Moron."
I am leaving you guys to it. DYOR; I have done mine
Olliesky,
What would make you happy, with RKH, in life or just in general ? Can't be much fun for you posting negatively every single day.
Reference the Ombrina field;
MOG fulfilled all its exploration commitments and in 2008 drilled 2 wells, discovered the Ombrina oil & gas field, completed a well as producer and set up a temporary platform. The total investment by the company was around EUR23 million.
Basically the claim is to recover costs and lost profits. RKH knowingly bought into the blighted asset. Other 'bighted'cases have imposed a 50% cut in awards. So, potentially we are looking at 11.5 million Euros and half the lost profits on the production from the 40 million barrel asset. Tricky calculations.
"Why would you be happy with £50m ?"
As pointed out the EDISON indicative example of a possible payout is $50m
I think its not an unreasonable number; that's all. If memory serves me right ; that is far more than was already spent on the blighted asset.
Be even happier if its more. There's no way we will get 275 m Euros if you look at other cases.
Olliesky,
Does someone really need to spell it out to you ? Oh they do ok well. Because
1) £50m as you state is $63.7m so its even better than cyans $50m
2) Some of us actually want the value of our shares to be higher rather than lower like your good self so an 8.5p up lift from 18p would be rather welcome.
3) It would keep the wolf from the door for a further 3+ years
4) Drink, girls wo-mens knickers
The arbitration with the claim is for 275 million Euros PLUS interest.
Other similar cases have had the award cut by 50% because the claimant knowingly bought into the 'blighted' asset.
I think the award will be substantially less than $100m; just my thoughts.
Edison stated this;
"Indicatively, a $50m award to Rockhopper net of costs would be worth up to 8.5p/share to equity holders. On 26 June 2019, the tribunal rejected Italy's request for the suspension of the arbitration and Italy's intra-EU jurisdictional objections. Rockhopper expects a final outcome and potential damages award in Q120."
I would be happy with $50m
It might take a while to recover, but I can see it being a catalyst to turn the negative sentiment. I think this news is probably going to come first before SL fid/sanction.
I see this as the 'Margin of Safety' for this share. I think it should/could be a large award.
I can imagine it may take some time to recover though.
Ombrina Mare arbitration potential payout.
What are peoples views on the likelihood of any award, the timing of any award, the timing of receipt of any payment and the size of any payment after costs?