I get the same translation as posted earlier and it's really quite clear. Has to be exciting that we keep getting a quarter closer and Navitas remain targeted on a 2024 FID, while we're getting pretty close now!
Translation posted on here earlier of Navitas' Q3 comments on Sea Lion are same as I get. More exciting each time a quarter elapses and their '24 FID target just remains unchanged even though we're getting close.
Yes 99, we're automatically near the end of PI selling to fund warrant exercising and at this stage rkh's brokers will canvas institutions as to whether they are buyers or sellers for any warrant shares at something over 9p. IIs would know the "rump" placing is coming and expect to be canvassed. On this basis all II warrants would be exercised with any shares shares not wanted at this stage placed. The only unexercised warrants would be some absent/neglectful PIs. Personal view but given the big payback numbers on the development of the first 250m barrels that are the subject of Navitas' target '24 fid, there are going to be few buyers when the brokers canvasThere might be another 750m barrels to come eventually.
@ silverfoil as you say if phase 1 ki js off its big numbers, but phase 2 plus step outs should at least double all the numbers. And if we get to Isobel you can double the while lot again
If even old latics can't get any more negative than the wishy washy, occasionally personal, stuff he seems to serve serve up these days then rkh really must be screamingly cheap. Is that all we need to know?
Same here, remembering first the "big payout" numbers for SL phase 1, then double that for phase 2 and near field step outs (in principle better than that as similar volumes to phase 1 but lower capital cost). And then if we get to Isoble you could double the whole lot again.