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errr, should of interest on here ...
See https://ir.navitaspet.com/company-presentation/
Navitas investor presentation over the weekend/yesterday in ENGLISH!
Great stuff, one thing is confirms target first oil 2026.
Slightly surprised left to me to post this.
Well I wouldn't encourage creating satellite echo chambers influenced by who knows what, as its better for peeps to experience a full universe of views.
Anyone can say what they want on here about price, change their mind or, for most, say nothing. Wouldn't glorify that mix as meaning much to any notional unknown bidder!
As matter of principle I'm basically with Paul on this one.
@spacehoppa, totally agree
Would add that GlenRothes turned out to be using quasi reasonable ideas as levers for recruiting shareholders to an exercise in dismantling their own company.
Turned out he had XR type peeps on hand to help with the legal stuff etc, so we can guess where Glenrothes and his ilk were coming from.
He's gone away. Then we had LatinsRule fomenting dissatisfaction and he's also gone quiet since he lost his audience, for now at least.
Oil Ups role may or may not be benign. Will become clearer in time.
Agree with maddogpete.
Still open mind as don't know what this crew are up to. Note Oil Up, having engaged a few on here, has already managed to wheel his chat around to include a "fight against the board"! And, coincidentally or not, LatinsRule has not chipped in (yet).
A bit of sanity here. Anyone organising anything would have to be up-front on who they are, with quite a bit of verifiable background, to start with.
Would be new, and a welcome departure from a previous exercise on here.
No surprise that Glenrothes/LatinsRule/Oil Upp or whoever they are start trying to throw a spanner in the works as we await news.
Last time we had to wait, the good arbitrators were polishing their written work for a decision that prioritised justice over leaving things unchanged.
I have to fancy that's where we are now :)!
We may see an OM announcement any time, could be tomorrow. Any speculation will soon be out of date so this post might have very little shelf life. Inevitably the outcome will reflect legal arguments but will still have to be chosen from the practical possibilities. So to organise some thoughts, and for now not pursuing further the no change/stay remains alternative, I'd suggest three possibilities -
In principle one option is for ICSID to lift the stay on the basis that anything rkh collects goes into escrow. This would be to follow RoI's submission that "because" rkh is a small company they should not be allowed to retain the funds, whether to invest in SL or whatever mumbo jumbo RoI offered.
Whilst lifting the stay would be a big win, this course would assist RoI's bullying approach of seeking advantage from their state level size versus rkh's smaller company position. RoI are nothing if not consistent having targeted bankrupting rkh for years. To withold access to funds because the appellant is small would be the polar opposite of ICSID's purpose, which is to level the playing field for corporates facing otherwise unaccountable, powerful and often corrupt governments. Funds would be spent on recovery without being able to access the proceeds. RoI would be playing the same game they have for years, as if they never lost the case.
Whilst lifting the stay would be a landmark moment, any funds collected would be accessed in 2024 all being well, and selling (a part of) the award would be both hugely assisted and better priced, I nevertheless still see this as the least favourable and most unlikely outcome. I may be wrong, but ICSID is simply not in the business of enabling states to throw their weight around.
Perhaps most obviously ICSID could lift the stay with no strings. This is quite a natural thing for ICSID to do and simply replicates the normal position where a defendant has lost a case, exhausted any appeal process (albeit there are no appeal routes in ICSID arbitration) and is seeking some sort of after-the-event judicial review. That pretty much describes where we are. A huge win for rkh if that's the way it goes.
The other option is to keep the stay on the basis that RoI put the whole award into escrow. To my mind, though the stay would remain, this would be even better than lifting the stay. No hassle, rkh assured of the whole award all being well in 2024 and no cost of collection! Is this the most likely outcome? Would it finally draw the teeth of RoI's ability to bully? And if so would it really be that good?
The risk must be that RoI might see it in much the same way and would not comply, but then whatever happens next would be their own doing. If RoI renège on the arbitration they have to expect the stay would be lifted!!!
re LatinsRule
yeh but remember SpaceHoppa that LatinsRule's a climate activist who doesn't want SL to go ahead anyway. Posts just display his own wishes and prayers.
I'd add yet another option - OM stay gets lifted one way or another over next few months (subsequent to whatever happens next week) and rkh collect some of the debt in 2023!