Member Info for EG777

If Sam's best guess of a November FID is going to be right, the only opportunity left is a Sunday announcement by Navitas followed by Monday RNS by RKH...

"they won't be available - the manufacturers will phase them out and the Govt will gradually tax them off the road"

Depends what time horizon you're referring to. 2028 will still be plenty available to buy. And I will be amazed if Govt stick to their plan of banning petrol by 2030.

I'm not necessarily against taxing EV's but it seems like an odd move for a government apparently looking to get everyone to switch to them.

I bought an EV solely because of the amount that could be saved in tax by getting one. Since then they've already added road tax, are adjusting the BiK rates, and now are introducing this new tax. I'll quite happily switch back to a petrol once the incentives are no longer there to own an EV.

*monetisation

Damn US auto-correct lol...

"Ain't no-one signing off on the finance package in December."

The monetization of the arbitration award was announced on 20th December.

Navitas signed off the HoT for farming into Sea Lion on 8th December.

Believe it or not the world doesn't shut down for the entire month of December.

Happy - the fact that you say IMHO doesn’t change the fact that you are making a blatantly false statement which is not a matter of opinion but is demonstrably false.

FIG DO NOT need HMG approval to drill for oil. This has been stated countless times by various governments (including this one) and they have unequivocally said that FI is a self governing territory - and specifically said that this extends to their right to exploit hydrocarbons.

There is no deal that needs to be done behind closed doors.

What do you actually expect to happen? Keir Starmer to phone FIG up and say “I know we’ve said on telly it’s up to you, but if you start drilling for oil we’re pulling all our troops out yer country!”

Even in the fantasy universe you’ve imagined where that could be possible, do you not think he would have done that before everyone had been planning the project for years and wasted £millions? Rather than waiting until all the ducks are in a row and throwing that curveball out there.

To be clear this project and investments is definitely not without risks - but the UK government denying FIG to go ahead of it is not one of them.

I’m inclined to agree Ladigue!

Navitas has basically indicated that FID is expected in less than 5 weeks (if we assume last week of December is a write off). I can’t see them saying that unless they were very close to signing off.

OIL - care to clarify why I would need to give up my British citizenship? lol

I’ve already paid my CGT on the 20% of my holdings I sold in standard stocks and shares account.

Fortunately rest are in tax wrappers (ISA, LISA, SIPP).

AlmaCogan - thank you for the clarification, always appreciate your insight.

For context, the reason behind my questions were to try and understand whether the rise in Navitas SP had been alongside dilution or not.

Clearly my understanding of the businesses structure was wide of the mark, so very much appreciate yourself and Ladigue’s explanations.

Side note: Good to hear from DEM earlier too. Haven’t seen a post from them in a while - they’re another great contributor to the board who’ve provided valuable insight over the years.

LTT - I would be very tempted by £1.50 a share.

Then again, I’m the guy who once said I’d take 40p takeover not too long ago. Yet I only sold 20% of my holding when we reached 47p to recoup my original investment.

So if push come to shove I’m sure I’d reconsider. But we are well within the life changing sums of money territory now.

To quote Sam at the AGM (this is from memory, so may be paraphrasing slightly):

“Never say never - but there are too many poison pills to prevent any pre first oil takeovers”

Thank you Ladigue much appreciated!

Nice! That’s strong close.

I believe it was Samula who posted the links to some recent fund raises by Navitas. Can they or anyone with an understanding of them kindly provide some insight:

1) Are these raises dilutive to existing share holders? I.e placing of new shares

2) Were they proposed, or have they already been actioned?

Any insight greatly appreciated!

A finish over 12,000 would be nice.

If I remember rightly around this time last year Navitas made some fairly significant announcements in the results regarding Rockhopper so it will be interesting to see what's mentioned this year. Last year was the NSAI updating the estimated reserves, and also a delay to FID to Mid 2025. It was around that point that the share price started it's climb from the low teens. Hopefully we'll see something positive and a similar rally this year.

Will be interesting to see if they restate their target of year end FID, or delay again. It seems too close to the end of the year for it not to be addressed one way or the other.

Mid 2026 would be a big deal. Hard stop on the funding for March 2026.

Ask Garbled, he's pretty experienced at it.

Enjoy the cruise NN.

Although you may be disappointed with the “dancing girls”.

One of the other posters pointed out (and Google confirmed) that Sharkeys (aka the bar with the dancing girls) - is actually located in Cambodia.

Seems as though it’s a seedy bar with barely legal girls aimed at pervy retired Western sex tourists.

I’ve got to say finding that out definitely took a bit of the romance away from Borgos story telling!

Where are you seeing this?

Currently down 0.85% at time of writing.

Delta9 - apologies if I misquoted you regarding Aberdeen Bar talk.

I sincerely hope I’m wrong and will gladly eat humble pie and apologise!

I'll hold my hands up and apologise if there's an RNS in the morning, but my guess is delta9 is talking nonsense.

If this is being spouted around in bar talk in Aberdeen then clearly it wouldn't be a "tight-ship", and if that was the case, we'd see a lot more volume of buys today if insiders knew there was an RNS coming tomorrow morning.

We'll see...

O I L - Yes, 1000%+ returns on RKH, vs approx 50% returns on S&P in the same period.