Whilst it is disheartening watching our Sp remain static, it is reassuring to watch PMOs strength building. Hopefully we are still on course for FID by the end of the year. Nothing in the public domain at present to suggest otherwise.
Ovets; When did TD announce that the FINAL investment decision had been made? Very serious statement with important implications. Anyone shown to make a misleading statement about FID would be in hot water; misleading the market; very grave stuff.
Again, where did Ovets state that TD had announced that FID had been made?
Cyan2 "Ovets; When did TD announce that the FINAL investment decision had been made? Very serious statement with important implications. Anyone shown to make a misleading statement about FID would be in hot water; misleading the market; very grave stuff."
Cyan2, when did Ovets state the above? He only referenced FID and did not state that TD had made a FID decision.
Nige, thanks for your explanation. I sincerely hope you are right but am finding it difficult to disagree with some of the more recent posts highlighting dissatisfaction with the bod. It can't all be down to bad luck surely?
"Abu Sennan has been an excellent asset for Rockhopper, but with activity ramping up during 2019 ahead of the formal loan application for the senior debt element of our core Sea Lion development, we have decided this is the moment to sell at a point where we can crystallise real value."
The above statement from the company doesn't exactly hint at another acquisition taking place.
Somehow I don't think a cash call to keep the bods salaries will be accepted by the market. Nige alludes to 'the curve ball' which is the reason for the sp drop. A curve ball suggests something unexpected. Interesting.
Yes, probably down to PoO which is very volatile at the moment. I follow the PMO board which in general has a rather bearish view on oil price. Is it really important at this time though? 2022 is when we should be taking more interest. Again, I refer to the Eddison report -
"We have not revised our Falklands valuation at this point with Sea Lion Phase 1 first oil assumed in mid-2024. We essentially include a one-year contingency over and above management’s guidance. We continue to base our valuation on along-term oil price expectation of $70/bbl Brent from2022."
Thanks for the Link Mogger. Sounds like I'm the only one who's bothered to read it.
"Sea Lion PIM submission is material step forward for the project’s development and is a sign of commitment to it from both RKH and PMO. The JV has been engaging senior lenders and export credit agencies over the last18 months and we understand the JV has been encouraged to make the submission at this time."
I'll repeat the last sentence -
"we understand the JV has been encouraged to make the submission at this time."
If what the bod are being accused of on this board is true, do you not think the following people might have something to say? Majedie Asset Management (hold 34,723,166 shares) Hosking Partners (hold 17,781,329 shares) Aedos Advisers (hold 17,545,290 shares)
Just one of the above probably holds more than this BBs combined count. Perhaps the bod are happy to continue paying the large salaries as they know what is coming to everyone? Just putting it out there!