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Market-Dealer, you should just switch to an account called Spartacus right now, no one will know who you are then.
I spoke to nurse and she said "don't be such a silly billy"
buffit, I don't think the ad-hoc committee will be having crumpet
I'm looking forward to the outcome of the annulment hearing, almost as much as I look forward to nurse bringing my crumpets dripping in butter at 3pm every day.
First, just over a year ago, who'd have thought we'd be filling this BB discussing the procedures and costs for the recovery of about £200M?
While interesting, I'm happy to leave it to K&S, who stand to gain a considerable amount by getting it right - and don't forget, they're supposed to be the best in this field.
As for costs, while it's no doubt a lot of money for you and me, for those involved, it's peanuts and the RKH IIs won't let this award to slip through their fingers. Also, once SL FID is announced, there'll be little problem in raising funds, if any are needed.
As for the annulment, after all the considerable waffle on this BB since the award was announced last year, not a single person has suggested which of the very few criteria for successful annulment might apply in this case.
So I say, annulment isn't going to happen, nor a reduction in the award. In their announcement on 24/4/23, the Ad Hoc committee included reference to "..........the arbitration panel unanimously held that Italy had breached its obligations under the Energy Charter Treaty", so that's the baseline from which they are deliberating the annulment application.
I say, get on with some gardening (assuming you have a garden), leave things to K&S and enjoy watching the interest accrue.
The price for oil is up
?
https://www.aljazeera.com/news/2023/1/28/italys-meloni-in-libya-to-conclude-8bn-gas-deal
Hello one and all, I've not posted for a while, my LSE account was suspended, not quite sure why, well actually I know why but I don't think the reason was justified. Well never mind, a suspended account is much less of an imposition than a spell inside at His Majesty's pleasure!!
So here we are then, Spring just started, weather shaping up nicely, comfortable slippers donned, reading all about the oil price forecasts for 2023 and into 2024.
I think this year is going to be an exciting one for Rockhopper, plenty of news on the horizon, heaven forbid that some of it is even likely to be good news.
So sit back, open a bag of popcorn and let the entertainment begin.
All the best, Crofty.
The OPEC move to reduce daily production by 2,000,000 barrels a day as the western world moves into winter is likely to cause a global shortage of oil resulting in price spikes. The US have already started using their strategic petroleum reserve to try and dampen out the price volatility ahead of the mid term elections. So much so that levels are now at a forty year low. Once the US are past the mid terms then I would expect them to ease off and let the oil price rip causing the world to plunge into a global recession as demand destruction takes place in the oil market. The idea being that during the following years of economic recession they then introduce measures to drive forward green renewables to replace oil including moving to a central bank digital currency linked to a personal carbon credit system.
Is there a future for Sealion in this scenario?
Well there is likely to be a high demand for oil and gas for the foreseeable future, certainly well beyond the lifespan of Sealion itself if it ever starts pumping oil. However another angle I hadn't spotted until recently is where the UN is driving forward the programme to adopt these CBDC's. First of all this rollout has already begun and secondly it would appear that they are starting with countries where the populations are fairly low, and on the list of countries that I saw one name popped out - Falkland Islands. (Note that I thought they used the pound, albeit the Falkland pound so how would that work?)
Once they have rolled out a CBDC they can influence decisions in regard to anything related to ESG scoring or carbon credits so opening up a new oil province would be a certain non starter. Thoughts? (Carbon credit s are awarded by the UN and ESG scoring is also controlled centrally so those running the world government will not be impacted at all)
Things really are getting a bit weird with global politics, from what I can see the war in Russia is actually driven by their insistence on having a solid gold backed currency used for trading oil, i.e. moving away from the petro dollar.
Another thing to consider is that the award is denominated in Euros. For some reason I had always thought that it would be denominated in dollars. Anyway, the award is done now, we just have to wait for the next phase of this process to complete before enforcement proceedings ensue. Meanwhile the USD strengthens and the Euro and Pound weaken, I have no idea how this will play out.
Anyone think that the share price is heading for 9p?
This would align with warrants in a similar way that the share price aligned at 7p during the open offer period.
Should we all be selling our entire holdings and waiting to buy back in the 9 to 9.5p range?
https://www.telegraph.co.uk/global-health/science-and-disease/mystery-pneumonia-kills-two-infects-six-argentina/
Authorities are concerned about the deadly outbreak because the usual suspects – including Covid, influenza and hantavirus – have been ruled out. Five of the six affected, and both of those who so far died, are also health care workers, suggesting an infectious agent may be involved.
I sold the equivalent of my open offer shares plus warrants (I haven't actually bought the warrants yet) just after the announcement as it spiked up to 19.5 p.
However I only managed to get 16.7p average for my sale, this is typical for me, I always miss out on the peak price.
I have bought back all the shares that I sold and kept the profit, managed to buy at 14.6p today. I have no doubt that this will drop further and others will secure a better price than me.
"The arbitration panel unanimously held that Italy had breached its obligations under the Energy Charter Treaty entitling Rockhopper to compensation.
**unanimously**
well that was exciting, after this settles back down again we should hear a bit more about exactly what the implications of this are in terms of taxation, funding for Sealion, interest due, any annulment application from RoI, how we actually go about enforcing the payment.
My only question right now is why the award was done in Euros and not US dollars, a minor point but not what I was expecting.
buzzthomas, no problem with split decision verses tied decision, I'm not overly familiar with the setup of the ICSID. Just looking for alternative outcomes.
Hopefully any RNS about a further delay might shed some light on this. E.g. Further extension of 60 days due to split decision, majority verdict to be announced by such and such date along with final award.
What scenario could be causing this delay?
Even a split decision eventually needs to be taken as a majority verdict. Many on here have stated that the delay almost certainly means a win for RKH, well how about looking at it as a split decision with a majority verdict against RKH?
Another 60 days would take us well into October by which time the European gas shortage crisis could well be even more severe. Maybe they are running this to the wire as the RoI have hinted that they may well want to develop OM as a stop gap solution to gas shortages. Surely any indication that OM might well get approved for development would mean a win for RKH with maximum payout.
If RKH were to lose the case then that draws a line under OM with no appeal. Then RoI proceed to nationalise and develop OM to save the Italian people this winter (clearly they don't have time but just saying it as a populist politician would). What would the situation be then?
Just playing devil's advocate here - a person who expresses a contentious opinion in order to provoke debate or test the strength of the opposing arguments.
The first recorded landing on the uninhabited islands took place on West Falkland on 27 January 1690, when the English sea captain John Strong came ashore.
John Davis was one of the chief navigators of Queen Elizabeth I of England. He led several voyages to discover the Northwest Passage and served as pilot and captain on both Dutch and English voyages to the East Indies. He discovered the Falkland Islands in August 1592.
Falklands Day is celebrated on August 14 every year to commemorate the first sighting of the Falkland Islands in 1592. It was John Davis who first caught sight of the islands during his voyage and ever since the holiday has been celebrated as a type of heritage day for the people living there. The Falkland Islands are situated off the coast of South America but have been under British sovereignty for a number of years now. It has had a tumultuous history, even in the 20th century. Falklands Day was removed from the calendar in 2002, replaced by Peat Cutting Day. This is on the first Monday in October.