Member Info for AlmaCogan

"we will see some more movement in the SP when the school term starts."

Ah yes. Wasn't it Chess(choose a suffix) who described to us how the A trades were the work of schoolchildren and college kids? Maybe he was onto something.👩‍🎓👨‍🎓🧑‍🎓

Total PR disaster if Oxy got involved.

Anadarko is long gone. It was acquired by Occidental, the Piper Alpha rogues. You don't want them.

From the biggest oil discovery since Wytch Farm, to the biggest gas supply for blue hydrogen, to a Bitcoin mine.

It's like a Whitehall stage farce. What's next? Panning for gold?

It seems from reading the reports of the insurance deal that it's a consortium with a lead insurer. So the lead insurer might be herding cats, so to speak. If one cat says " Meaow" then what? That's the reason for the $25 million conditional placing, IMO

There is a situation in democratic government known as ‘purdah’ whereby elected governments cannot take policy decisions after the dissolution of the legislative assembly or before the swearing in of a new assembly.

In relation to the FIG, purdah starts on 31 October, pushed back from September, and will be in place until mid-December.

That in my view is why FIG Chief Exec pushed the election date back a month, to allow the existing MLAs to finally approve the Sea Lion development before a potentially new team arrives to open the whole can of worms up again.

That’s why the general meetings of Navitas and RKH to approve equity funding are scheduled for September for a FID decision in October with Senior Debt in place awaiting those approved resolutions.

ZYX, the paper you seek is here…

https://falklands.gov.fk/mineralresources/jdownloads/Geological%20Papers/Plenderleith_et_al_2022.pdf

Download before the “management” removes it.

I thought Sea Lion was a syncline not an anticline, so there is no gas cap. The planned gas injection well is some 8km from the FPSO at the reservoir edge where there might be a gas accumulation. Or so it seems.

garbled says, “when the debate is lost, slander becomes the tool of the losser.”

equally, "when the debate is won, slander becomes the rule of the ******."

"What are your thoughts if Navitas were to offer a free drill on Isabel on the condition of receiving 65% of the licence?"

Navitas already has 65% of all the RKH licences in the North Basin, including Isobel.

Be careful TimCurry , lest the posting Stazi come down on you for talking about BP on this board🕵️‍♀️🕵️‍♂️🕵️

JPDM

I think your valuation is out by some distance in relation to PL001. There is only seismic data and no evidence of multi billion barrel reservoirs, only conjecture. The rest of the North Falkland Basin hasn’t yet proven up a single billion of recoverable 2C resources.

The only comparison one can make is when Noble Energy acquired the PL001 licence from Argos Resources. Argos gave up 100% of the licence in exchange for a 5% royalty from future production, pus some cash to pay directors’ salaries. So, JHI in reality can be expected to give up 90% of PL001 or dilute its shareholders by 90% to fund exploration and develop any findings.

Even Rockhopper had to give up 65% of its licences after spending $500 million of equity on exploration and appraisal wells, in order to secure a partner with the money to develop Sea Lion.

That means that 6% of JHI is likely to result in 0.54% of a development in PL001.

That’s not to say the share price won’t bounce back up tomorrow, because it’s sentiment that drives the price on AIM, not fundamentals.

I sold this pm. First triple bagger in a long time

I thought we had rehearsed this before. There is no such thing as NAV10.

Net asset value (NAV) is the accounting balance sheet difference between a company’s assets and its liabilities at the end of a business day; it has nothing to do with discount rates such as 10%.

NPV10 is a different story and is project specific. It is the net present value of the future net cash flow expected to accrue from the company’s interests in an oil or gas field during the remaining expected economic life of such a field, discounted at 10% per annum.

They are not the same thing.

Ten years can be a short time in the oil industry, before 1975 no-one thought there was any oil on the UK continental shelf, just gas.

However, it was not until 1975 that a small entrepreneurial American company, Hamilton Brothers working in the Argyle field, brought the first British oil ashore, to followed very soon after by BP in the massive Forties field.

Discoveries of oil grew in number as more companies, British, European and American, took out leases on sectors of the North Sea. By the mid-1980s there were over one hundred installations. Through extraordinary technological innovation and human effort – and sacrifice – millions of barrels were being produced every day. An oil and gas bonanza had occurred.

That's a fact, and it's what drives this effort, success will create a domino effect.

Thus Spoke Zarathustra.....

"But why Israel investors for the free ride mainly"

Because Tadmor told them to do it.

Alongside death and taxes, another certainty of life is that the poster ‘Chess/whatever’ is always wrong. So, I was pleased to see his negative contribution today because I can now bet on the opposite with a high degree of certainty.

Today’s announcement did not simply suggest, as Chess would have it, that a new FID budget had been revealed by Navitas. Rather it suggested that Rockhopper had been told in no uncertain terms by Tadmor to “S-h-i-t or get off the pot” in a hurry, because it was the last material impediment to the due diligence for the $1 billion Senior Debt arrangement, as all other issues had been settled with Shenandoah now producing commercial oil.

Tadmor, at a recent interview said he was supportive of his Sea Lion partner, rather than predatory. So, he lined up a bunch of Israelis to take the placing and ensure it went through successfully. A rights issue would take forever, and a bigger open offer would require a prospectus approval by FCA and would take even longer.

The heat is on, and I am now expecting the FID in August, not September.

Croft Original thinks there will be a crowded trade on the formal FID announcement. He is probably correct so it’s not prudent to wait for it, because the entry price will be 25% up from here.

And this is no longer driven by fundamentals alone. There is the huge basin wide upside and it’s got a lot of PI sentiment support as finally it became the British ‘Mouse that Roared’

RKH has more fan sentiment than the recent Oasis reunion concert. It's not about barrels

35,000 ft deep. Think on that the next time you look out of the window of a Dreamliner at flight level 350.....

Jewish sabbath, they'll say something on Sunday