Member Info for BlooBird

"Under a legal agreement with the Falkland Island Government, Rockhopper is prevented from making any form of distribution."
Could someone explain what that means.

Long, but interesting, article re; enforcement of ICSID awards.
The EU are forever trying to poke their nose in.
https://www.simmons-simmons.com/en/publications/cl6ca60l21o4i0b88lcyzbfh4/enforcement-focus-trends-in-the-enforcement-of-icsid-awards

· Plus interest at EURIBOR + 4%, compounded annually from 29 January 2016

Shame that EURIBOR has been -ve for quite a while but 3 1/2 % interest is still $millions .

Some people seem to think that RKH and Navitas may looking for another partner to help develop Sea Lion.
Wouldn't it be ironic if they could persuade the Spanish oil company Repsol to join them, after the way Argentina screwed them by nationalizing Repsol's Argentinian operations in 2012.

It's very encouraging to see, comparing latest RNS to the one in June, that the Water cut and well pressure are virtually the same as back in June..

RKH just taken a bit of a drop down to 7.76p

r1234
Thanks for reminding me, I'd completely forgotten.
That's scary !! Hope it's not Alzheimer's ... just OldTimers.

"o Subject to a positive FID, Navitas will provide an interest free loan to Rockhopper to fund two-thirds of Rockhopper's share of Sea Lion phase one development costs (for any costs not met by third party debt financing). Certain costs, such as licence costs, are excluded"

Could someone correct me if I'm wrong but won't RKH need the OM settlement to help pay the remaining 1/3rd of development costs that Navitas will not be lending them.

says Sam Moody, Rockhopper’s chief executive. “And it is big enough to make a difference to the security of the UK’s energy supply.”
Can someone explain that to me ... surely the oil will be sold to the highest bidder via an oil dealer.

Longtimethinker You wrote :-
"Harbour, 200k barrels per day, will have paid back ALL historic debt of PMO in 1year or so, maybe sooner"
But that's not true anymore. A recent article in the Telegraph stated that HBR will probably end up paying an extra £800 million in tax in the next few years because of the 'windfall' tax.

Ovets, you wrote :-
"if RKH/Navitas doesn't help to fill the energy deficiency, someone else will"
I agree.
It would be nice to think that the World is crying out for the potential oil from Sea Lion but unfortunately it's contribution will be just a drop in the bucket.
The US produces about 11 million bpd, imports about 6.5 million bpd and exports about 3 million bpd. This works out to the US using about 10,000 barrels per minute.
So Sea Lion's contribution would be used up in 5 or 6 minutes per day, just by the US alone.
Conclusion ... the world is going to need a lot ( a herd ? ) of Sea Lion's.

Should read $120 Million not $130 Million

"*Navitas will provide an interest free loan to Rockhopper to fund two-thirds of Rockhopper's share of Sea Lion phase one development costs".
It seems that RKH will have to come up with 1/3 of 35% of maybe $1Billion cost of Sea Lion ... almost $130 Million.
Could someone correct me if I'm wrong.

SpaceHoppa you wrote :-
"sell 1/8th of your shares and then subscribe for all of them in the OO. This way you end up with the same number of shares, it has cost you only the dealing fee "
What about the spread ? At the moment it's 0.9p (about 13%)

Someone has suggested selling 1/8 of there shares now so that they'll have the funds to buy them back later with the Open Offer (including warrants).
But that won't work.
Lets say you have 64,000 shares and sell 8,000 now ... when the Open Offer occurs, you'll then only be able to buy back 7,000 (1/8th of 56,000).

pre2rsd
The article in the Telegraph is mainly about the 40th anniversary of the Falklands war and how we should maintain our presence there so as to protect our interests in the Antarctic.
There is no mention of oil or anything that could have an effect on RKH.

Closely Coveted NWS Well Finds No Hydrocarbons. One of the most closely followed wildcats to be drilled in Australia this year, the Sasanof-1 exploration well off Western Australia’s North West Shelf turned out to be dry despite initial estimates putting it at 7.2 TCf of gas reserves, jeopardizing future LNG output in the country.
Looks like Falcon gas needed even more now.

Santos may have even more problems.
https://www.reuters.com/business/energy/indigenous-australians-seek-block-36-billion-santos-gas-project-2022-06-07/

buzzthomas
RKH merge with HUR is a great idea.
With RKH's $3 million and HUR's £70 million that would mean they would only need another £ 1,427 million to finance SeaLion !

The green graphic in PL032 looks more like a 'Sea Horse' than a 'Sea -Lion'. Maybe that would have been a better name ?