Member Info for Biscuit496

To those who contribute good information and sound advice - I thank you.

To those who give misleading information and idiotic advice – I just wish you to go away or shut up.

Differences of opinion can, and should be, constructive. It should not lead to insults being slammed about and offence given. No matter how right the individual thinks he / she is, it is demeaning to follow that line of behaviour.

I agree that with Ovets statement: ‘there may be some (particularly newcomers), who may be influenced by any garbage and who may appreciate being helped to see the true picture’. But the majority of us should follow the advice – ‘ignore or filter’.

Certainly an update of the facts from time to time, by someone who knows what they are talking about, is good for the benefit of all -especially newcomers to the board.

What the future has in store for us all nobody knows. There are still elements of uncertainly about. So let’s behave like the responsible adults we should be and continue to help each other identify progress and any problems arising.

I personally thank the researchers and providers of facts of what is going on in our sphere of interest.

The idiots - please just shut up or go away. Or both!

Grimuphere

Guano is the accumulated excrement of seabirds and is a highly effective fertiliser due to the high content of nitrogen, phosphate, and potassium.

Most appropriate

Ah that is nice. Peace returns – if only for a short while. No snarling hunting dogs snapping at mangy foxes.

Peace and quiet allows for some reflection of the situation and prepare for when hard news arrives and facts are discovered or disclosed. Hopefully this will be followed by reasonable and (hopefully) informed opinions – not necessarily agreed with but respected just the same.

I suspect that situations are approaching when we all will have some crunchy decisions to make – so a cool, calm and factual based ‘board’ environment would benefit us all.

Of course this may not be as much fun for some. If that is the case the rest of us should, as many have advised earlier, use the filter.

I have a better idea - you stop posting your tripe.

CJ

How right you are.

AC / PD

Yep how right you both are. I missed the date of 24 8 22. As you say old news. I followed a sequence from the website and assumed it was in some date order and part of the annulment request. Ah well wrist truly slapped. Must do better.

JUS MUNDI website

That figures.

ICSID (International Centre for Settlement of Investment Disputes)

Right this is full of ‘legalize’ but, so far as I understand it by looking at the ICSID and the JUS MUNDI websites, a ‘final’ decision was made on 1 Oct 2024 re the Rockhopper case (See 1/ below) but it has all been delayed (as indicated by a statement given - see 2/ below). Now that may be because of the EU intervening. I don’t know. But no matter who instigated it appears that the ‘opinion’ of a Pierre-Marie Dupuy (See 3/ below) is being discussed.

1/ Decision of the Ad Hoc Committee on the Non-disputing Party’s Application to File a Written Submission Pursuant to ICSID Arbitration Rule 37(2) - 1 Oct 2024

2/ The text of this document has not been made public or is not available on Jus Mundi. It appears in Jus Mundi to inform you of its existence and the data known about it (applicable treaty, parties, arbitrators, etc.).

3/ Opinion of Pierre-Marie Dupuy

https://jusmundi.com/en/document/opinion/en-rockhopper-exploration-plc-rockhopper-italia-s-p-a-and-rockhopper-mediterranean-ltd-v-italian-republic-opinion-of-pierre-marie-dupuy-wednesday-24th-august-2022

The ‘Opinion’ I find difficult to fully understand but seems to me to be negative to Rockhopper. Heaven knows who this guy is but he seems to have some influence on ICSID’s decision. Maybe, just maybe, there is now a debate taking place within ICSID arbitration on whether this effects the final final decision.

From todays Navitas website. Nothing new just for the info of those who havent seen it before. Quite a good summery. It still says FID mid 2025.

Navitas

About Us

Operations

Investor Relations ESG

Sea Lion Falkland Island

Status Discovery

Working Interest

Working Interest 65%

Navitas Reserves 819 MMBOE (2C)

Operato Navitas Petroleum

Sea Lion is a significant oil discovery located 220km north of the Falkland Islands. Navitas Petroleum is promoting a development plan for the project and a financing package.

Previous owners in the Sea Lion field drilled 20 exploration and appraisal penetrations. Past investments amount to approximately USD 1.3 billion. Navitas Petroleum anticipates that a final investment decision (FID) will occur by mid 2025.

Please see in the links below the following Falkland Islands Public Consultation documents:

(1) Environmental Impact Statement

https://navitaspet.com/wp-content/uploads/2024/07/Sea-Lion-EIS_FINAL_PUBLIC-CONSULTATION_ISSUE_01072024.pdf

(2) Environmental Impact Statement Non-Technical Summary

https://navitaspet.com/wp-content/uploads/2024/07/Sea-Lion-NTS_28.6.24_Rev_2_NS.pdf

Interesting - that is the only ref to Rkh selling that I can find. I wonder where it came from, and is it correct? Everything else I read indicates that they are hanging on to the shares. Two RNS (17th) from UOG and one from Rkh re voting rights for starters.

Ah well all will be revealed in the fullness of time. Meantime are those shares a good, but risky, buy for some? UMMM

United Oil & Gas PLC - https://www.uogplc.com/

On 27 January 2025 Rockhopper posted a RNS informing us that ‘United will issue to Rockhopper 59,823,810 shares in United at a price of £0.001p per share’.

See:

https://www.lse.co.uk/rns/RKH/full-and-final-settlement-with-united-oil-and-gas-pn3o3sxat2lw4k5.html

Today, 18 2 25, the United share price is £0.09p, or there abouts.

From what I can find out, after a quick search, is that this company is very cash poor but does have, what appears to be, a good asset in an offshore oilfield south of Jamaica. (Walton-Morant licence)

It also has an interest in the UK (on shore) which do not appear to be that good at the moment. (Waddock Cross licence)

Then there is one in Egypt which seems to be a ‘dead duck’. (Abu Sennan licence)

So it seems possible that the long term prospects of United are a very risky 'good'. A bit like Rockhopper was for some time.

There are three points that ‘hit me’:

1. Rockhopper now has 59,823,810 shares of United at a paper price of £0.001p. The present price is £0.09p. There appears to be an immediate large(ish) ‘paper’ profit.

2. If Rockhopper keep these shares (and I cannot see any other realistic option at the moment) there is a potential much greater profit well ahead in the future. Especially if United manage to do something with the Jamaica oil field. Farming and so on. Who knows?

3. At the price of £0,09p a share is this a good investment opportunity for the rest of us?

Any comments?

(This may while away the this boards time while we are waiting for news!!)

1415 GMT ICSID Status of Proceeding:

Still Pending

Ah don’t be hard on the poor lass. She needs to ‘make a penny or two’.

And there I was thinking I had complemented you!

Ripley. You must be pleased that there is someone around who likes your posts. It’s a shame, though, that you have spread yourself around many ‘boards’ to find them.

Sorry. Forgot to put in heading:

Status of Proceeding: (as of 1 2 25)

Pending

https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/17/14

• Latest Development:

October 1, 2024 - The ad hoc Committee issues a decision on the non-disputing party’s application to file a written submission pursuant to ICSID Arbitration Rule 37(2).

Https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/17/14

Rockhopper Italia S.p.A., Rockhopper Mediterranean Ltd, and Rockhopper Exploration Plc v. Italian Republic (ICSID Case No. ARB/17/14)

• Latest Development:

October 1, 2024 - The ad hoc Committee issues a decision on the non-disputing party’s application to file a written submission pursuant to ICSID Arbitration Rule 37(2).

Ripley. Can I take it that the Happyhaddock quotes you have given were primarily about you ?

Heading to Gulf of Mexico

[LINK REMOVED]