Member Info for burnwell

Oleg Deripasa, probably the richest man in Russia, sitting on his yacht in some exotic location, dwelling on the high import tax he had to pay as import duties for his export of Aluminium into the European Union.( which was a very high price as he owned most of the Aluminium smelters in Russia). Oleg had nothing to worry about. He must have had some good advice, Spotted on Oleg's Yacht were George Osborne our chancellor and Peter Mandelson a European commissioner at the time. At the end of the day, Oleg was well pleased. That meeting saved him £50 million. Not sure if it was Per Annum or for each financial year, not bad for sharing a tin of caviar, Traitors or slip up?

Covgaz. We need an enquiry into the cost of enquiries, hopefully this will bring down the cost of enquiries then have enquiries into what the general public think, may be possible to expose dodgy deals by our ministers past and present.

Would this help to alleviate any doubts the public may have on their past performance?

For instance, three days before Kwasi Kwartang Liz Truss's chancellor was due to announce his budget in parliament,

Kwasi attended a gathering of hedge fund managers. ( did he accidentally reveal the contents of his budget?) Three days before the budget the £ began its steady decline to $1.04 to the £. An enquiry would have determined whether or not the hedge funds made hundreds of millions on a sure bet, (slip of the tongue perhaps)? Liz sacked her chancellor a short

time after. Traitor or a slip up?

Forward Headline News DATE 26 DEC 2O26 ROCKHOPPER ANNOUNCED THE NEWS IT HAD PASSED THE SUCCESSFUL PRODUCTION OF TWO MILLION BARRELS OF OIL FROM SEA LION>

On the same day Rockhopper announced the drilling results from the multiple test wells of the Isobel prospect.

Rockhoppers chairman said it is too early to announce the exact no of barrels of oil in the Isobel field, but stated Navitas

had more oil in its portfolio than many Arab states had in theirs.

Ed Miliband congratulated Rockhopper on their find, saying after decimating oil production in the North Sea for which he denies responsibility, and says he now intends to drill baby drill.

Bit of daft, hope I get away with it. Alma and the Ham slices?😁😁😁

I'm not keen on the idea of a third party for Sea Lion. However a partner for Isobel? BP/Shell would be perfect partners to spread any risks, the rewards may turn out to be huge. How embarrassing for them if a Japanese offer came in from Mitsubishi corporation Gas & Petroleum & struck a deal with Rockhopper.

About 40 years ago the Prudential Pension fund led a consortium of institutional investors to finance the building of a pipeline for Sohio/BP to transport oil from Prudo Bay to the ice free port of Valdez in Alaska. The interest rate agreed 10.5/8%.

I think most of the chat followers would agree that we have possibly a world class find in the Falklands. The question is why do our finance institutions and pension providers as yet, are not knocking on our door wanting a piece of the action to place a small proportion of their portfolios with Rockhopper and Navitas to finance the Sea lion Project ? Rather than invite a third party in and Rockhopper reducing the 35% stake it now holds. Is there a pension fund leader out there that could organise a group of institutional investors to spread the financial risk ?

PS

Hope they are not looking to invest in mad Miliband electricity for free Energy company.

F.i . is safer than Gilts, unfortunately you are spot on Flipper56.

Smac50 I cannot give you a time on this. I will go against the grain on asking shareholders not to sell their shares, possibly bought at say 20p. Should an offer come in at a £1 and his profit changes his fortune, good luck to him. Another shareholder in the not too distant future who purchases his shares at 80 pence is more inclined to reject the pound offer. Id hope his thinking would be in a couple of years time £1 per share could be the yearly dividend. It would take a big number on offer to persuade a lot of old time members of this chat to sell their shares because they have an affinity with the company and want to see first oil. Once Rockhopper achieves Fid the sooner new investors hopefully will be paying a price that reflects the real value of Rockhopper.

Sorry I pressed the wrong key £300p No Fid no OM then we are down to 14p Burnwell, £300p

Oscedar. Israeli private wealth what will they be thinking in December 25, those amongst them who bet on Navitas will be cash rich and looking for another winner. Rockhopper with OM sorted and FID approved first oil hopefully due sometime in 2027, only 641mil shares on issue earnings from Sea Lion potentially 1.4 million a day, if he is too patient he could miss the boat. I have been in Rockhopper for a long time now with a very substantial holding. Today I am feeling optimistic, put m

Parallel situation I had in the seventies when I received a generous redundancy payout after working to build an oil rig for Burma Oil. They were close to bankruptcy at the timeI. I took the decision to put the whole of my redundancy money into Burma Oil shares, which were in new money about 10 pence per share. I waited for the tricky task of Burma sinking the rig exactly where required and upright, then I did the trade. Once the oil started to flow, Burma Oil could not have printed money as fast. I cashed out around the £3-50 mark. The gain and what I did with it changed my life. Should any of you who visit this site and have treated your grandchildren to some Rockhopper shares and are financially able to go the distance, Burma was a 35 bagger for me. Rockhopper has the potential to be much, much more. Hope you appreciate the gifts from the grandkids at Christmas if all things go to plan. Good health and a Happy New year.

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.

Down. Harbour are on a roll this year because of events Price of oil next year?

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.