George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
These RockRose figures were mainly in the marketplace but unsurprisingly there were a few pleasant surprises, the one I think is most pleasing is that the company has stress tested the numbers and comes out with a figure of $18 p/b at which the business runs given the harshest of environments, every which way RockRose seems to be in the extreme upper echelon of companies in the sector.
from Malcy's blog https://www.malcysblog.com/2020/04/oil-price-rockrose-dgo-jog-petrofac/
The spread is wild on this share sometimes 60p other times 15p I don't think this volatility is very helpful for trader/shareholders.
5:42 Oil surges as much as 35% on Trump production announcement
Novak remarks?
All good points MB10 but the one you left of and I like best is, the CEO owns nearly a third of the company that shows serious commitment and doing what is right for the company will follow.
If there is to be a further 25p does anyone have thoughts as to Ex dividend date, is it likely to be back dated?
This from Malcys blog on the 26 march
With regard to the dividend the company’s stated policy is ‘Based on the strength of the Company’s cash position, the hedging it has in place, and the flexibility of its capital expenditure commitments, the Board of Directors still expects to recommend the payment of a final dividend of 25p per share, bringing the total for 2019 to 85p’.
OK thanks, will see if I can find that.
MTSparky New to this share, so why does RRE get $3 about brent?
Looks like: Pershing Securities Limited have some faith in this share , good to know.
https://www.lse.co.uk/rns/RKH/holdings-in-company-5zszpqckae7rb79.html
So do I really. :-)
hairydavey
https://www.youtube.com/watch?v=pUdhaDCvPWY
"Well there is a 2 million buyer sitting at 4.5p"
It must be "Simples" then scoredAS
Stagecoach issued a profit warning and scrapped its dividend payments this year.
Its directors are giving up half of their salaries and fees for a period of time, will not receive any bonuses for 2019-20 and will not receive any pay increase for 2020-21.
Is curly going to give up half his wages to help keep this company alive, is he F**k.
I am unsure whether the $23M includes the recent sale of Egyptian assets for $11.5m but I'm pretty sure it does.
This was a statement from the half year report in Sep19
"Year end 2019 cash resources estimated to be in the range of US$25-30 million, depending on the final mix of consideration received upon completion of the disposal of Rockhopper Egypt Pty Limited"
So the number tie up for the $23M including the sale.
Not a lot left really :-(
REG – Rockhopper Exp plc – Impact of COVID – 19
07:00
19 March 2020
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Impact of COVID-19
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and
production company with key interests in the North Falkland Basin, provides
the following update in response to current market uncertainty related to
COVID-19 and commodity price weakness.
In January 2020, Rockhopper and Premier Oil announced that a detailed Heads of
Terms had been signed with Navitas Petroleum to farm in for a 30 per cent
interest in the Sea Lion project. Good progress has been made during the
first quarter of 2020 to convert the Heads of Terms into fully documented
agreements. Despite the current oil price weakness, all
parties remain committed to the finalisation of the Navitas farm out
agreement with completion subject to agreed consents and approvals.
With the Company's modest presence in Italy already having been substantially
scaled back, the Company's day to day operations remain unaffected by the
spread of COVID-19 with necessary contingency measures in place.
Recent initiatives by the Company, including the sale of Rockhopper Egypt Pty
Limited together with the legally binding Heads of Terms signed with Premier
Oil place the Company in a relatively stable financial position with cash at
13 March 2020 of approximately US$23 million (unaudited), no debt and with
limited exposure to future development costs (excluding licence fees, taxes,
costs incurred prior to 1 January 2020 and project wind down costs) at Sea
Lion. The Company continues to actively manage its corporate costs with
G&A in 2019 of approximately US$5.3 million (unaudited).
In addition, the Company confirms that it intends to announce its full-year
2019 results on or around 7 April 2020.
What I want to know is what are these clowns going to do about conserving cash in a big way going forward?
Stop spending money in the Falklands on pre-development activities- 7.6 million last year
Drastically reduce Admin and miscellaneous -5.8 million last year
The company needs to survive first and foremost and needs to be run on a shoestring until things pick up again.
I just can't get my head around the BOD thinking on all this spending.
Where is the RNS saying what steps are being taken to protect the company?
Or are they just figuring on having a giant placing over the next 6 months at 4p and massive dilution!!
I remember the same things being said on BB's about the Oxus gold case (arbitration)
looking for 1250.50 mln USD Awarded by tribunal 10.30 mln USD
Same no win no fee basis 70% chance of success.
Even worse then if its an arbitration panel
Totally agree with you GHS, even if they deferred 2/3 of their pay until after the company is making a profit, would be acceptable, but to keep on paying themselves 300-500k when the company only has £20m is totally unacceptable.
OK we will see.
In my admittedly limited experience of court rulings, justice does not always seem to happen, therefore one can only assume other factors come eg political/ pressure from those in power