The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
levistubbs - the rules on TR1's are that when buying shares, the buyer should notify the market when they cross the 3% threshold and then every additional 1% thereafter. When selling the reverse applies - they should notify when they cross every 1% threshold downwards until they are <3%. So for RKH, the first notification threshold would be at 18% when selling and then every 1% until down to <3%
Bl with Andrew Scott...
https://www.proactiveinvestors.co.uk/companies/news/925718/united-oil-s-larkin-says-taking-over-as-operator-in-jamaica-is--extremely-exciting-development--925718.html
So based on Slide 18 from the last Po Valley presentation (Jun'19), assuming EIA decree is on 30/9, we are looking at 1st gas around end Jun'21
https://www.povalley.com/assets/docs/190624%20PVE%20-%20Investor%20Presentation%20June%202019%20(Proactive)%20-%20FINAL.pdf
Quarterly Ops report just out - inching forwards..
"Final EIA decree is expected in 3Q 2020"
https://hotcopper.com.au/threads/ann-quarterly-activities-cashflow-report.5531339/?post_id=46226216
For anyone who missed the call last month or wants to re-listen, they've re-released the investor call. Its a lot cleaner than the original version and less headache inducing. On the website and youtube.
https://www.youtube.com/watch?v=RYODxJmJ0eQ
wh0sthedaddy- agreed, the operational 'benefits/synergies' are incredibly tenous
Someone will have to explain to me how RBD's 'Low risk, low drill cost, near term activity, and clear exit plan strategy' is proposed to be extended to buying up a series of exploratory North Sea assets, with a commercial COS of somewhere between 20-40% (being generous) and will/wont be drilled at Shell's behest. Its either a cash grab and S&S are looking to flip it, or the strategy is all over the shop. If it goes through, i hope its the former as i didn't invest for wildcat drills
No worries, thanks for the link. I'd noticed that article and its always of interest what companies, analysts etc are forecasting. Someone on twitter had a predicted oil price graph for the next few years from various different sources. Unfortunately i forgot to bookmark it !
myfirstmillion - FYI, RKH could start selling after 3 months (end of May'20)
'Rockhopper PLC has agreed with the Company that it will only dispose of any interest in the Consideration Shares for a period of 12 months from Admission in accordance with an orderly market arrangement commencing three months from Admission' (RNS 09/12/19)
We'd all like the SP to be higher and whether its RKH selling, other 3p placees, people who've made a bag from the Mar/Apr lows moving on , the usual AIM drift, old warrants etc, i have no idea without a TR-1. As a LTH, i'll just do my daily growl at the SP and endure it. To echo Bebeto's post yesterday, the business is healthy, making good levels of profit/cash at muted oil prices and now producing more bbl/d than anyone could have predicted at the start of Dec'19. It'll take time but the SP will eventually catch up. There was always likely to be a lag given the the acquisition financing structure and market conditions post xmas have added to that.
Lancaster - nearly all, still a few within their expiry date left. I assume todays are part of the 868,627 which are valid to 2028.
Chris/CF73/G_G_G - there are a bunch of old options that are exercisable at zero price. There were 1m exercised last May which were also at nil.
See the top table on Page58 of the accounts
https://www.ncondezienergy.com/wp-content/uploads/2020/06/2019-Annual-Report-and-Accounts.pdf
.. for the 11am investor call
https://www.uogplc.com/wp-content/uploads/2020/06/June-2020-Corporate-Update.pdf
gkb47 - Yep, thats the same mystery options figure as me. It could well be a mistake as you say . Like you i've looked through the readmission docs and agree its silent on options... we'll find out the story one day
gkb47 - Thanks for this, its nice to know its not just me that's puzzled
FYI, the Finance Manager who was there before DQ joined last year has c.1.3m of the 9.4m you mention.
If you take the 'Existing Options' figures from the RNS table, add on the Finance Managers and deduct DQ's (which were awarded in May'20), you get the 11.1m in the Annual Report.
I was pondering over the weekend if it might be the 2x Egypt based former RKH staff who transferred over - their old T's and C's might have entitled them to RKH options and UOG have replicated it? Its my best guess at the minute
Yeah where's there's not much he can say - either because of an NDA, needs an RNS or possibly there's just not much happening on a project - he can sometimes zoom through them.
Haven't sent in anything as yet specifically for thurs. I did send in a Q last week after the options RNS as i couldn't reconcile how there are now 37m options - there's c.28m in the RNS table and there's one other non Director who has c.1m. Not had an answer about the 8m difference, so they may cover it on thurs or it may have gone in the recycling bin... if i've missed it, its well hidden.