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RKH will have another monumental rise toward the middle/back end of 2024... looking forward to making a bucket load on it again.
BB3
I for one would be happy for them to raise 4 times again in as many months for the same amounts if we got another 3/4 holes in the ground.
Takeover would be huge if further strikes were made.
Not page 16.. that is % outcomes of arbitrations concluded (we would be part of this % already as have had the outcome from the case).
Page 19 is the % of annulment proceeding outcomes.. "1972 until the end of 2023, 434 awards were rendered under the ICSID Convention, 102 rejected applications for annulment, 23 decisions annulled - 16 in part and 7 in full - and 42 annulment proceedings were discontinued." so effectively 5% annulled - 2% in full.
BB3
Last fundraise was for last well + 3 months of overheads if I remember rightly.. assuming they did their maths properly then that means cash till end of May.
Similar story here at.
In at a range of price points from 5-7p then averaged down every time it halfed in value (which unfortunately was a lot of times).. last buy in was at 0.19 the day before it started the rise..
Was holding a 95% loss at one stage, 😬
Sold a bit on the way back up to mitigate thoes heavy losses and now thankfully back in profit.🤟
Still got a very good chunk of shares left to make some serious profit, but can't help feeling like I've been shafted through this...
Will be voting against re-election for all board members (other than LB) at the next agm. (But hoping for a takeover prior to then)
BB3
✊️💪🤜👊🫵🥳
Not seen any mention of the insurance claim before, however the article was written many years ago and likely been spent if ever received otherwise there would have been little need to raise funds in 2023.
2024 going to be huge for RKH.
BB3
P.s. wouldn't you kick yourself for investing in a very expensive set up (if that is what it is) to get the HE water up and commercialised, when a few more exploratory holes might find the gas cap / fracture with free gas migration which would be way cheaper to produce from.
BB3
Problem with noble, as was tai, is the helium found is being released from the water as the pressure is released/changed.. so basically they need to work out how best to get the he out of the water, unlike gas cap which can just be tapped (hence their talk about there being a gas cap somewhere updip - they haven't found it but the water saturated with he may still prove commercial upon reveal of a plan of how to do that economically etc).
Free gas is where the game is at.. finding it in water is kind of like tar in sand. Its still hydrocarbons but not worth heating it up and trying to pump it out in comparison to a gusher - totally different economics).
Just my take on it.
BB3
Dai2belts.
I'm going to be dumping all I make here back into RKH for 2024.. glad you hit here too.
I know you were invested before 1st dill, as I, and truly hope you averaged down whilst at its lows, as I.
Good luck. 2024 RKH and HE1. What a year this will be. One to REMEMBER!
BB3
60p (with another 10% of shares in issue to cover the exploration bill for 2026)
Nm
Not sure I agree with the get rid of the rig long term Joe, nor the calling around for rig availability for curent or next drill campaign either.
Basically they are in hell looking for an exit. Only exit that exists curently is to find the super light gold in a form and quantity that can be changed into paper to pay for the next leg of the journey.. anything that detracts from finding the exit in my view would be like looking for the tap when the front door is on fire... just get out.
All hands to the pump to raise funds to get one, and one remaining bit, of a well done in order to have forward momentum. Raise again if possible along that process to fund another few wells or cpr on what they find.. if no chance to raise funds again then sell the lot...
Let go of anything that costs while evaluation of next step is undertaken in a bad outcome, keep it all on a good one as a small raise or farm in can bridge the gap to the next.
Bitten off way more than they had cash for, with woeful risk planning. The board talking about new licences yet to be awarded etc, just shows how far from reality they are.
I shall be voting for the chairman and the financial director to go at the first opportunity regardless of the next drill outcome. Lorna's fate will be sealed on the outcome of the next drill.
All IMO.
Risk profile of this company was already high before they bought the rig, since then it has shot through the roof and I don't see a way back down other than a commercial strike.
Bitten off more they can chew with regards to purchasing a rig, in that I agree with Joe80.
They can forget getting revenue from hiring it out as they don't have the deep pockets to cover any and all future issues with it on site.
As for getting rid of the rig now, who would buy as 'sold as seen' in its curent state. One feels as if there needs to be a 100% perfect drill to show its capable and fixed.
Selling it would free up some cash, but for what end? They would be back to square one and need a rig + finding a buyer that would then lease it back to them just devalues the sale even further.
Only sense IMO would be to finance the asset to free up some cash to be paid back upon a future fundraise in a drill success case (if no success then no need for the drill anyway).
So.. finance the rig, small raise at whatever dilution to cover the next well and revisit the tai basement including 6 months wages... look to sell the company upon completion or further raise / dealmaking if successful.
BB3
I'm on the hook for 65m
Another Newbie here.
Stumbled into this share some months ago when the put option was struck, however don't have a clue on exit price or timing. I have 45m shares and want an exit rather than see it peak and then fall.
Is the expectation that this will rise north of 5p without further news, or do I again need to wait for a further RNS before a price like that could be reached?
Also, what are peoples expectations of SP over the next 24 hours.
Chessmaster,
You do know the FPSO won't be drilling anything don't you?.. drill rigs and drill ships do that.
That said, I would expect FPSO and drilling rig LOI news to be announced close together along with finance and fid. Probably all within 3-6 months of each other as one is dependant on the other and all plates will be spinning at the same time. Each one being announced should make the next both more likely and easier to negotiate, but all will be bubbling away as we speak in order to hit 2026 first oil... any one of thoes bits of news could come first (other than FID) including a farm out or even vendor participation agreements for subsea (but less likely as fpso detil dependant) etc.
"FID is expected in 24 so this suggests the announcement of a LOI on a leased fpso should be landing anytime now as it will take another 12months after the LOI to sign the full fpso leasing contract and then let's be optimistic and surmise the vessel requires minimum refurbishment and it's done within a year, then 3 months to deploy to Sea Lion means If an fpso LOI was announced today, its reasonable to assume it will not be drilling in the South Atlantic until the end of 25 and that would just about correspond with Navitas's stated timescale."
IMHO
BB3
Jury is out for me on this appointment. What will make me gain trust is an investment by them both in RKH stock. If we see them buying shares (rather than them just being given them) I think they will gain my trust, if they don't then I will take the position that they are just in for the ride as part of the old boys club.
Cant wait for Funding, FPSO LOI, FID and OM decision news.. Once all have dropped, I'm out for good.
BB3
Yep, that's correct.. logic would suggest that there is a reason for this.
1. Large holders of the warrants are not converting yet to try and force the company into another placing prior to 2024.
2. Wanting to wait to book a bigger profit / shareholding without having to outlay the capital up front (I.e. sell the required amount shares to pay for the warrants)- higher the curent SP, the less they have to sell.
3. There isn't enough liquidity demand to sell into before converting the warrants and are awaiting the next positive news flow to sell into - in order to not crash the share price prior to receiving the converted warrants.. as I'm guessing some of thses warrant owners will have a fair few million to shift (assuming they don't want to increase their overall investment) and at the anemic daily volume we curently have, selling to buy would certainly crash the price which isn't in their interest..
My guess is all three, but mainly scenario 3.. our daily trade volume is awful and the only thing that seems to move it is news flow.. maybe Sam should be doing some more PR and investment Road shows?
BB3
I guess there will be a big chunk of warrants getting converted in the remaining months
Yes, thats a fair bit of confidence...Hope he does well, as I have a nice chunk of noble too:-)