Member Info for CitizenTS

@Mogger, you got an English translation of thebSL slide?

@hjkl

Why long way?

Sea distance Port Stanley to Rotterdam is 12,900 kilometres. Will be nearer refineries in Europe, and now Africa. But about same as Kuwait to China (port near Shanghai) at 12,385 and Gulf to China has never bothered anyone.

Not sure what you're upto matey.

Ha! ignore, noticed heading

I'm getting an error mesage on that link. If it has Nav's results date on it then I'm interested.

@SH, with the historic tax losses of 700m and tax deductability of the costs to first oil there'd be little to no corporation tax for first three years

Well fairly simply it's all a tax expense SH.

Not sure what "write off" might really mean. The 1.4bln gets spread forward, both because profit in the year of the expense would be zero or insufficient and because there might still be the old 25% rule where the capex component is depreciated over 4 years.

That's a simple take anyway.

Hmmmm, remember what's actually happened is that Shenandoah project has been expanded in the course of FID to first oil period. Inevitably a likelihood of that with SL especially as the different project scales are the same for the first two years.

Will just say I'm more optimistic

There'd have to be a very good reason to offer the gesture of a small dilution - basically if the project as a whole was somehow very significantly enhanced

As we all know, 35% is of the equity element only and Navitas are are funding 2/rds of that.

Rkh has an agreement with Navitas for no dilution. Navitas's job is to find the finance; it's up to Navitas how they do that but it's their job. The agreement basically says they don't then come back to rkh to provide part of what they (Navitas) are supposed to be bringing to the table.

I'd also say mid cap only by US standards!

ÌMid cap yes but 12x Murphy market cap. Murphy looks too small to me to come in at this stage as at this stage have to put up a relevant amount of cash reflecting valuations.

Mid cap yes but 12x Murphy market cap. Murphy looks too small to keep to co e in at this stag

Re potential partners, Hess Corp (NYSE:HESS)?

Right size at least to put up a relevant amount of cash as part of an economically sensible deal, seem to remember had some connection to FI in the past, but might want to be operator on Isobel down the line.

Just a thought.

What peeps think about Equinor selling onshore Argentina??!!

See

https://www.reuters.com/business/energy/equinor-plans-sale-onshore-assets-argentina-local-news-report-says-2025-02-21/

Something like agree with all that Croft.

Think I've answered by own question in earler post. Using the prospective resource in the northern/central areas, all from the NSAI Oct '24 report, get's you there.

Would mean this is being shown, and rightly so, to new partners as a 1.2bln barrels of oil exercise - before anything from Isobel/Elaine. So I'm in until we see what comes out of that, at the very least.

Let's see. Can anyone reconcile Navitas's stated 819 million barrels for their 65% of SL - that's 1.26 billion at 100%, with something reported elsewhere?

Re grimuphere/aimless/overleveraged/godders - such a shame you're out now and looks like no tradeable dip materialising.

Though you bought a lot lower down I'm told, an average in the 30s means yoy've not really done anything here.

Such a shame!

Anyone considered the possibility thatNavitas's share price hitting new highs (again this morning) might be far more closely linked to some sort of direct SL progress than it is to completing Shenandoah?