Member Info for eegbvi

That's your choice !! But personally I think its a good deal for both sides except I do think the numbers should have been a bit more generous to FOGL. But dare I say it I suspect the Isobel 2 well is going very slowly BOP problems apart so the result will be late Jan. Nothing to do with the merger of course. If RKH is rebuffed where will that leave FOGL ?

This one is being carefully drained to get PIs into RKH well prior to the FOGL meeting so that at the time both BoDs can rely on the yes vote. The PI shares sold wind up in friendly hands pre voting. Its the usual market deal where a company is mainly PI controlled.

With FOGL you gain an extra 10% or so but you take the risk that the merger may fail next month. That bit is your choice though.

I don't think anyone has yet answered your question in full so let me try. I don't know how your FOGL shares are held so there are some alternatives. If you hold certificates in your own name somewhere then FOGL's share registrars should send you the voting forms to your last registered address. So you need to ensure the address is current. The Registrars' address is on the FOGL website or you can phone FOGL direct for all the paperwork information. If on the other hand the shares are held by your broker, or bank etc either in nominee format or ISA etc you should find its all automatic but you will need to contact them to check they don't want any voting paperwork from you. Hope this helps and good luck with it all.

Agreed, my mistake albeit you can still trade on Sunday through Dubai for pre trade Monday.

17 Jan is last day for trading FOGL shares. Merger effective 19 Jan unless there is a Court delay.

You're correct I think. Too many people on here are shooting the messenger instead of the culprit NBL. NBL simply rode roughshod over FOGL and more or less said 'we're in charge here and you do as we say'. The NBL Humpback announcement buried as just a few words in everything else gave FOGL no room for manoeuvre at all. I suspect FOGL wanted a quite different RNS but was sunk by NBL. So now we need to wait for RKH experts to look at the Humpback results later in 2016 after NBL is playing with its new toy in NFB. The outcome may not be quite so gloomy with NBL out of the way.

You or your bank or your broker needs to surrender your FOGL shares on 17 Jan and you get back the RKH shares at 1 FOGL to 0.2993 RKH. So 10k FOGL equates to 2993 RKH shares.

At present you can still buy in on the cheap through FOGL but as usual the MMs may adjust the offer price.

PMO say breakeven is $50 per bbl so is probably cost about $35-38. Production to be 60k bpd. You can do your own sums.

Needs to be 7.25p-7.50p now to catch up with RKH. Assume 8am tomorrow MMs will adjust one or the other.

I really have no idea at all what you're talking about or what you are driving at. Please do enlighten me.

Still think the same as Saudi Aramco is selling at $38/39 into the EU whereas Russia is asking $42. The Saudis couldn't care less what price WTI is and that's what you probably picked up. Possibly also for the benefit of Qatar Petroleum people as there's not much love lost there.

Because the 'market' generally is like lemmings and all oils were hit, some more than others in the oil panic yesterday. They will all get over it though.

The Fox has a new hen house next month.

All to do with the oil price yesterday

Steady so far today, in fact slightly higher on better than expected China, Japan and even Australian trade numbers and indications. As to OPEC the Saudis are waiting to see exactly what unfolds next month re Iran UN Sanctions being lifted. Iran as to be expected is saying its all straight away but US & UN are both saying it will be gradual geared to UN nuclear inspections. The Saudis have now said that its in the OPEC interest to fully accept Iran but just now no one knows quite what to expect. When the Irán oil numbers are clearer by Q2 2016 then there will be preparations for some form of agreed OPEC action which I suspect will be a cut of some sort to include Iran's likely new output. And meanwhile the Saudis will continue to try to cut into Russian business with the EU.

If you assume that at present the market is pricing any non producing oil co at just its cash value as Peteb says (quite correctly at this point in time) then post the merger RKH should be at about 17p or so, plus maybe a little more for any incoming insurance funds so there's no need to rush in to buy. Let us hope the merger gets completed around mid January 2016 and meanwhile Humpy 2 is ok. Of course over the next few months as more shale oil cos fail and the Baghdad Govt runs out of cash the Saudis will decide to finally rein in production. April/May perhaps. Then all the oil cos SPs will really jump. Not for day traders though. !!

That's the plan drop the FOGL SP enough to make sure all FOGL holders are left with no option.

I do visit Saudi about every ten weeks or so plus talk to some of the senior people there. Their problem for years has been dealing with some of the more extreme religious nuts. You need to realise just how far they have actually come in the last 40 years. The GCC so far as I know is still very much together re the oil price except for my golfing friend the Oman Oil Minister but Oman isn't an OPEC member. Iraq isn't going to get any favours off Saudi or even the GCC as its the main cause of the oil glut plus is now an Iran proxy state.