Member Info for fecm

Corporate action notification from IWeb explains the Open Offer well. I need to input a few thousand pounds to take up my holding which is spread accross an ISA and normal trading account. It grates a bit having to do this to avoid dilution but would be worth it if OM comes in and/or Navitas start releasing positive news.
A few things bother me, in particular the shaky ground that the stock market seems to be on at the moment, down big time on some of my long term investments.
The other thing is RKHs track record / luck which just does not go in PIs favour. Could it really be different this time. I note that we hav until midnight on Tuesday to take up the offer so I might just wait to see what comes out of the AGM. I'm expecting a lot of positive spin - but we've all been there before! Afraid I can't attend the AGM but good luck to those who can, hope it's worth the journey.

ARG not looking in a very good place today.

I don't understand the drop this morning. Yes we've just been diluted, but there is now an extra £5m in the accounts so why didn't it just balance out?

An extra 60 days won't make any difference to us long term holders, at least we would then have passed the point of no return where the award has to be issued. AGM on the horizon, things could start looking up again.

My portfolio of shares, funds and trusts are down 30% overall, so I'm already in recession. Do I bail out now or sit tight and ride out the storm? Could be a long wait. Trouble is if you bail, where do you put your money?

Three weeks next Tuesday. Wonder if two presentations are in draft at the moment? One with OM award and one without!

So, the 'sweet spot' fast approaches - 6th June to 18th July.

Date Broker Recommendation Old Target New Target Rating Type
30-May-22 Canaccord Genuity Speculative-buy 22.00 22.00 Reiteration
07-Apr-22 Canaccord Genuity Buy 18.00 22.00 Reiteration

Broker rating now a speculative buy but with the same target price. Are they saying it's now a 'punt'? Do they ever get it right?

Knowing our luck, that will be an Indian summer!

Latest Development:
April 25, 2022 - The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).

Been a long wait to read this!

All in the RNSs

"Extension of the Company's North Falkland Basin Petroleum Licences, including the Sea Lion Discovery Area, to 1 November 2022"

Page 9 box says:

SeaLion
A proven and verified oil discovery
The partnership is working to sign the transaction documents
for the purchase of 65% of the project and for its appointment as an operator

12p on the ask at the moment, not seen it that high for a while. Bid doesn't look great though.

Nice to see trading in RKH on the up this week with a revisit to the 10p region albeit short lived. Would be nice to think the rise is due to pending news however, I think it is more likely people taking further positions prior to the 31st or speculators getting into small oil companies following recent rises in oil prices. Not too long now until Q2.

Indeed, both up circa 60%. RKH up a 10th of that at 6%. Anyone think a big merger is likely to happen?

Hmm, ARG just moved a bit too.

I'd have rather hoped he would be a bit too busy for car shopping at the moment. That said, if he pulls OM & SL off I've no objection to whatever car he desires.

BP chat board a bit lively this evening. Doubt they will be coming to our rescue somehow.

Could certainly be worth a small speculative investment, especially if RKH can get things off the ground.

I take it you guys investing here are following the RKH story to gat an idea of costs involved getting your discovery out of the ground?