The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The message if we don't stop this, then we lie down with dogs and we will get up with fleas. I vote no with 1316187 shares
How much would it cost if we offered CA 8 pence per share for their shares?
Thanks Surfit a good piece of information.
Merlin the magician would find it hard to determine who and what, the amounts of money put in, the actual purpose the funds were used for, which company is entitles to claim from HM Government any write down on Sealion.
A lot of shareholders cash has been spent on this project so far. RKH are not making any money at this time or any time soon, Harbour have a lot of debt but are making good money able to take advantage of any write down.
Hope we have some clever accountants on this page who can give a more accurate figure.
Don't feel sorry for Harbour shareholders who will take the write down hit of 597million dollars, it was Premier Oil shareholders who paid the money. Harbour came out very well financially in the reverse takeover, I would say they acquired Sealion for free, and now it looks like they will save on their 2022 tax bill nearly 120 million dollars.
Any ideas as to what Harbour will do with the tax saving allowance from HM government ?
My choice Harbour to sell its Sealion interest to the Falklands for a Dollar $ and still receive the allowance.
Is this how it works, suppose Harbour made a Billion $ in year ending 31- Dec-21 and corporation tax of say 20% they would be Liable for tax to be paid for trading year of two hundred million dollars, leaving a profit of eight hundred million dollars.
Suppose Harbour directors decide to cut their losses on Sealion and decide to write down to zero the $597million Sealion
book value asset. profit of a Billion for year ending 5th April 2022 minus a $597million write down, Harbour would be liable to pay tax on $403million profit for the year 5th April 22 = $80.600.000.00. Hard for shareholders to take, but Harbour pay
$119million 400 thousand less tax for the year 5th April 22.
Why would Harbour have take the hit of a writ
Anyone able to put a number on the financial advantage to Harbour Energy if they took a full write down on their Sealion
investment with RKH in the year ending April 2022, which I think is going to be a very successful year for Harbour Energy.
I would think H.E would be looking at ways to reduce the tax for year ending April 2022.
Only speculation, next step buy into Navitas in tax year April 22 to April 23 assumed 65% holding with the tax saving, which I think will be considerable.
Sam if you read this board, you need to engineer the prospect of having the Falklands as a third partner, you know who to call. Falkland gov board the islanders have a working interes,t benefits everyone.
EC. Hope l am wrong, but I think Sam is pushing the can down the road. What can we do? take a lesson from Putin he signs a
Presidential decree to steal Crimea, that was easy, then signs another decree steals the Donbas region.
Putin then announced he is tearing up all contracts of purchases of Russian oil & gas, for those who will not pay with Roubles as against the agreed payment in $ or Euros.
Could Boris sign a similar decree to cancel contracts with Russia if a UK company who had full ownership of a floating oil production platform.
Found a gem of a platform RKH might find a use for a little over engineered, we can live with that. The platform can handle up to 70k barrels of oil per day. Operates off Sakhalin Island. The Piltun - Astokhkoye - B ( PAB )
Shell announced they are pulling out of the project with Sakhalin Energy. Ian Craig was the former chief executive of Sakhalin energy, don't worry, Im sure Sam could do with your services RKH would welcome Ian with all his experience
One problem ownership 27.5% Shell . 50% Gazprom. 10% Mitsubishi. 12.5% Mitsui.
Back to the drawing board.
Is there a shipyard anywhere in the world converting an oil tanker or constructing a floating oil platform financed by western banks.?
Would Boris sign such a decree.? I think he would.
I will be on google a good part of the night, let you know if I find a nearly ready vessel. To a potential partner for Sealion
time wise it could save 18 months to first oil.
Mirasol If you don't ask the Question you will never get a reply.
The West need to rethink their post war strategy, eventually the war will end do they go back to pre war arrangements pumping $600 million a day into the Russian economy Putin will rub his hands one for me, one for my friends, one for new tanks. the ill-informed peasants can have the rest.
Time to spread some of western wealth to South Americas way instead of relying too much on Russia & Saudi Arabia.
In normal times if we asked the Government for funding, the answer would be probably no, go and find alternative means of finance to fund SL. Unless Putin wakes up one morning with a brain change becoming a nice compassionate man which will not happen, this war will drag on for a long time. so we are not in normal times. How long will FI wait for sanction?before they say RKH you have had your chance it is time for us to move on and listen to other offers. France & Germany for example need to find alternative oil supplies. France recently sacked its head of intelligence, basically his department are useless way behind the US & UK, Imagine the embarrassment of the Gov should France this time be ahead of the game to secure future demand of oil for France or even any other country prepared to commit funding to the FI to move Sealion forward.
Sealion, In normal times this would be a no, but in todays world it is possible, RKH to explore with the Falklands whether if the opportunity arose to borrow from the Uk funding to move the project forward. On the basis, RKH stake 30% with a free
run up to production and appointed project operators. The Falklands will then own 70% of Sealion. The benefit to the islanders would be immense. Navitas will drive a hard bargain,Harbour the same they acquired Premier oil for cherry bobs. If RKH think there is a possibility of discussions on this with both governments they should be on the phone today. In the general scheme of things, UK has spent more on Covid personal protection equipment that can not be used.
In the not too distant future a share buybacks would be a good thing to do, too many shares in circulation
At oil prices around the $40 per barrel PO can easily pay the 8.5 % interest it incurred from lenders.
A good rate of return for their loans, where can they get that rate of return elsewhere without incurring a much higher risk level ?
Tolmount after a lot of capital expenditure is not too far off from pay back time, revenue to help pay off debt .
All changes if oil dips below PO break even. Should we get through this difficulty and board don't learn from their actions of putting the company at risk, it will be time for them to go.
Spot on Thissen on your price forecast for the PMO share price for close of play Friday.
What is your opinion on the weekly Tolemont revenue on the startup of production.
Next step.PMO to offer a 1 for 3 **************, sounds expensive at today's share price.In a few
weeks time it will be seen as a bargain.
If it happens, PMO acquires 30% of S/L for a quarter of the price PMO expect to receive for the sale of Zama. How good would that be.?
Ros 1 Do you know the maths to put a value on 17 Kboepd of gas.
Gentlemen,you are slow today. From the film Proof Of Life Russell Crowe stated "Give me A NUMBER TO WORK WITH". If Rockhopper share holders receive 1 PMO share for 2 RKH shares it would be a way forward to
achieve the goal of developing Sea Lion and they would still be part of the action and share the rewards that go with it.
I would go for it. Mmmm, if I paid £5 for Shares in Rockhopper It would be a tough choice?
If oil remains at the current price, every day that goes by PMO pay a lump off the debt.
We have to think of the situation 18 months from now.
If PMO could take out Rockhopper for £200mil paid in PMO shares it would be a very good deal. Somehow I think
Rockhopper investors would want a better deal than £200mil.
But you will never know until PMO try it.
To own 100% of Sea Lion what would the ratio of PMO shares would you offer for Rockhopper shares?
I think an offer will be on the table to RKH very soon. Is there anything in the rules stopping PMO from buying in the
market NOW?