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Totally agree Paul. Any farm out will demonstrate value far far north of rkh share price. We'll get an idea when the rkh reserves report comes out.

I fancy the mention some way down of (now remote) possibility of capital raise disturbed some this morning. All part of expected volatility but we all want that when it happens upwards. Share price is just limbering up for the sprint imho!

Note premption extension ends Dec '25.

Ie higher and higher till out of reach of navitas!

Looks like lower cost financing available - bank provided senior debt rather than bonds! Tremendous that financing progress in this direction is focus of the delay.

When rkh reserves report leased "shortly" attention should be nearer the npv10 value and away from npv15. Scope for some real fireworks on that imho.

Fear of in part from gap beween shareprice and above values is presumably part of what is behond reciprocal preemtion extension. In other wirds if there's a bid for rkh then navitas get some first refusal (unless a bidder continues higher and higher).

Realise I'm repeating an earlier post but Navitas's March NSAI report and the DCF stuff there show this probably is out of reach of most midcaps imho. Would say that when rkh's reserves report (also NSAI) is released it will more than confirm the value and scale message. That's probably only a couple of weeks ish away.

Also Navitas have made clear they want the operator role. A PE/private lending vehicle might fit the bill.

Yes Paul, I should've been clearer that "though" in my post means any new partner could only reduce the cash rkh will need to fund it's share of the project "equity" - an amount which, as is, looks like USD46.7m.

'errr, that's "post the chunky stuff"

FID into H2 (say 3 months to mid H2) and first oil back a couple of months say from end '27 to q1 '28 makes OM in front of FID a lot mote likely at this stage.

Costs solidifying around the $1.4bln number as now pist the various chunky stuff agreed.

Project/jv debt also becoming clearer at $1bln leaves rkh equity at under $50mln, circa $46mln (.35x.33 of 400). Though that's before any new partner.

After firming these things up uncertainties are new partner and upcoming rkh NSAI report. Both of which, I'I'm going to say, have great upside potential. At this rate it'll get to 70p PRE FID !

Anyone get a translation?

https://mayafiles.tase.co.il/rpdf/1667001-1668000/P1667593-00.pdf

'ha! "Grim will be buying upto 60p or so and he's got a lot to do

Last time Grim was behaving like this he was buying all the time and accumulating 1% of the company.

"in the City" ??! you'd know nothing about that

@Grim, with the price performance in prospect here may not be worth waiting for your attempts to influence the share back to nearer where you sold to fail buying buy back in. Swallow pride and get back in around here, makes sense. Oh, but maybe that's what you're doing anyway!

And if first thing that happens is the rkh NSAI report then that will really surprise I'd guess. Very positive.

Wouldn't know what to expect on timing for OM but can say if/when it comes es through over next 3 weeks or so would expect it to be fully refkected in share price. That's saying there's nothing in the orice for it now.

Might say thats odd but it gets there by pretty mych fully discounting a modest equity issue instead to cover fid without OM.

Thats where we are now imho.

It is indeed grim for grimthere - old godders is now out of his 1% of rkh in the low 30s!! Totally out of it as it stands. Best leave him to it.

SH, loans from Navitas would be the smaller number, say 100m, whether or not they transfer. The rest is jv / project finance loans and equity so far as I see it.

Realise most on here are not numbers guys ... will leave it there!

LTT (and others) earlier post - the "Navitas loans" would be nowhere near $500mln!! That's simply not how it works. Sorry to put it bluntly.

The jv borrows and Navitas then funds 2/3rds of Rkh's share of the remaining funding that the partners need to put in - the so-called "equity" component.

So the "Navitas loans" might be $100mln. Possibly less terms of/if third party entering.

@ LTT - cash from early SL wells basically all funds subsequent SL wells for circa first four years

Rkh have said they will commission their own reserves report along the lines of the reports Navitas have published from NSAI. Thing is the reports have in several ways been highly specific to Navitas.

Will be a landmark (another?) event for rkh. These reports are.meat and drink to many larger investors, often mediated by analysts - including at the private banking advisors of the wealthy. They have, in my opinion, been a key catalyst for Navitas shares' performance. The discounted cash flow (dcf) tables are an important component. The tables have not had any real profile on here but so what!

Every prospec that an rkh report will emerge earlier and have better news than expected.

If it's already in the works, which it is of course, then no wonder that all the eyes that might have seen parts of it have resulted in some initial liveliness in the rkh share price.