Member Info for AlmaCogan

No good moaning about FID in Q4 anymore, the runes have already been played out.

Production licence PL032, which contains the Sea Lion oil field, expires on 31 October 2024; this is just a matter of fact. It will have to be extended for the 35 years needed to develop, produce and decommission the field, on 1 Nov 2024. According to the company and the operator Navitas the licence extension application is in hand, OK so far?

You are not going to get a licence extension without proof of funding to meet commitments. At this stage of the game, the commitment is field development, not seismic surveys or seabird studies, that has all been done.

So, the next few weeks will be hectic for success.

1.No hope of funding unless FIG approve the Field Development Plan

2. No hope of funding without an approved Environmental Impact Study

3. No hope of funding without a letter of comfort from FIG that they won’t change the rules

4. No hope of a licence extension without funding

It’s either an interconnected virtuous circle to success, or a death spiral, no other outcome, and there are 16 working days left.

I am predicting a RNS on Thursday 31 October 2024, that Navitas has secured the funding in principle, subject to some DD and the production licence has been extended.

If I am wrong, we’ve all lost our investment. It’s as simple as that.

If you believe in it, then it’s time to put your money where your mouth is. If you don’t, then you must be Kier Starmer’s uncle who apparently was torpedoed by HMS Conqueror.

"Gideon is irreplaceable."

>If he has the sense I expect he has, he will be working remotely from an apartment in New York

Argentine school books portray Las Malvinas as a land of green and plenty with a Latino population of farming gauchos living under the jackboot of British colonial military rule. It's hard to eliminate that kind of brainwashing of young children who become adults.

A non-disputing party can only be an activist trying to muscle in on the proceedings. Just Stop Oil or Greenpeace. Not the best news at this stage, it's another loop to go round. Could take forever now.

"Falklands tensions erupt as islands snub UK by going ahead with 800m barrel oil project"

Daily Express has got on to the story as well...

https://www.express.co.uk/news/world/1954631/falklands-islands-sea-lion-oilfield-labour

This is the industry version of the Daily Mail. All rumour and speculation, without any informed insight. " I heard down the pub in Gateshead" etc

"Don’t shoot the messenger"

Poof, Bang , Dead, Fook off Finley.

Messenger shot.................all quiet again

Finley1, you seem to think that RKH are the operator of the FI licences. They are not. The show is being run by an Israeli outfit who don't give a fig about Argentina, the UK Supreme Court or the Democrats in USA.

This article has been debunked as Russian propaganda. A seismic research vessel is incapable of discovering oil and it's an old story.

L a r s e n

in short, no.

in long:

the only significant prospective basin is the l****n basin, east of the antarctic peninsula. geological evidence suggests that the best plays would involve deep strata. the major problem in this basin is the very difficult access, even by antarctic standards.

I find it odd that the FIG even thought it was necessary to attend the Labour Party conference unless they had some doubts about the UKG. I also think that Foreign Secretary Lammy is acting out an unspoken policy by talking about a deal with Spain over Gibraltar, presumably with Falklands not far behind. A deal with Argentina has been a Labour ambition since the the days of Corbyn. The bars stewards are treasonous.

A bit unfortunate the new CEO talks about a "gas transition asset" when he meant to say "green transition asset" and was really talking about a condensate asset.

Best to proof read a RNS before pressing the send button, IMO

Upon reflection, I think it's MOSSAD priming our computers to explode the next time The Chess Master puts up a post.

It's an attempt by LSE to keep AI ( artificial ignorance ) robot posters from spamming the boards. If your IP address is hidden (like on VPN) you don't get access. So we will soon see if Godders is real or imaginary.

The report looks like that movie "Margin Call" where the risk manager realises that a small % negative shift in asset value would wipe the company out, because of a highly unstable balance sheet, but gets fired.

A 1.2% increase in liabilities or 1.2% decrease in asset value here would reduce the company to zero value. That's an unstable position to be in. Each acquisition carries both assets and liabilities, and one wonders why they are so cheap to acquire.

Still not breaking even after all these years?

AUM of $2B is now "in" 2025, not "by" 2025, some slippage there. If they cannot make money out of half a billion under management why would they make money out of two billion, too many expenses, and cash is going down year on year.

The company is behaving like a private company. All those pledges in 2021 about open communications which withered on the vine.

I'm kind of warming to you Wet Banger. How are things on Sanur Beach these days?

Good to have someone on here to hold TCM to account.

Just a question: why does everyone say a top up is cheeky, and why is it rude not to do so? Genuine Q, I am thinking of doing my MBA thesis on it.

Cheers

Elderly white cat woman and Harris supporter (not a corset)

Crofty. That is a pi55take surely? It's a copy and paste of JEBR's post of 30th August. Back in the old folks home for you!

As you said a few days ago : (If I ever repost anything worthwhile I usually pass it off as my own work/research, it seems to go unnoticed, just change the pseudonym at the bottom for your own one and bask in the glory of receiving ticks of approval from an anonymous bulletin board)

Go and read it.

It's as plain as the balls on a bulldog that AIM is Godders, who in turn is the man on the Clapham omnibus, whose name is on the Rockhopper public share register.

It's also as plain as the balls on a bulldog that he has jack else to do than moan about his inheritance on here.

It's not an agenda, it's a mental condition.