Member Info for fecm

Could we be getting close to Navitas signing?

You back in Barnyards?

I must be dreaming again :)

Lol, it would appear so.

Checked in this morning and we are up 8% on yesterday, not much volume to support but with a 10% spread I think I'll go back to sleep!!

No problem, really only number 10 requires RKH bod input so it's still all to come. Got to stay positive or no point being here.

Dry news season?

1. OM outcome announcement.
2. Navitas sign off.
3. PMO court case finalised.
4. PMO refinance.
5. Zama sale.
6. ARCM short close.
7. Oil price increases as lockdowns ease.
8. UKEF application resubmitted/revised.
9. Licence extension discussions.
10. RKH shareholder/investor meeting (post AGM).

Potentially could get FID this year if 1-9 above go well. Surely this year can only get better for us?

Trying to buy but keep getting referred to a NT

Well we could argue all day (and probably will!) as to how much the cuts should be. However, it is a positive move by the bod to ensure the company can survive these difficult times.

Various measures now being put in place to reduce costs to the company. See RNS for details.

Just because people have to have a phone in a few countries doesn't mean that they will comply with the points I made earlier.

Personally I think the app is a cleaver piece of technology however it relies on human input which can often be unreliable. That is: -
1. It requires a person to carry the phone around with them at all times.
2. It requires the phone to be charged and switched on when out and about.
3. It requires bluetooth to be enabled when out and about.
4. It requires a person to accurately and honestly input information regarding symptoms they have.
5. It requires people to trust that their data is in safe hands.

Whilst I agree it would help, I don't think it's the golden solution.

Judging by the lack of movement today when many oilies are down, I'd say that the majority of RKH shares are now safely tucked away in bottom drawers across the country!!

Krakenoil, extract from Malcy's blog today -

"The Company say that the Court approved the creditor schemes of arrangement and that they are ‘re-engaging with stakeholders’ but if I remember correctly there is an appeal lodged by their nemesis ARCM which has to be seen off and there is also a small matter of their 13% short position to be handled. Not that I was expecting anything on this but I assume that reports that the company are seeking to cut a deal with BP are not wide of the mark."

Still showing as 16.69% on short tracker, last updated 29 Feb 20 though.

As PMO have now officially released this news, I'm surprised we have yet to receive an RNS from RKH.

Well the licences will be up for renewal again next year. Wonder how long FIG will be prepared to wait? This news was pretty much already know so I think we will take a small hit today then back to business as usual. Lets hope OM news starts to flow soon.

In an attempt to steer us back on topic, tomorrow PMO are due to release a Trading and Operations update for the period to the end of April. Hopefully this will update the picture of their finances. Any other info will be a bonus.
Their AGM is then scheduled for 25th June. Hopefully a little news flow between now and then.

Thankyou for picking me up on that Henry. My comment was a bit 'wet finger in the air'. The last official notice which was put out at the end of October 19 (over 6 months ago), so why not another 6? I note your response to Mogger's question was somewhat evasive.
Now please could you point to where I made claim to 20 million? I think you will find it was another poster who I couldn't disagree with as nobody knows what the award amount will be.

As for being paid to do this, I wish! Just a run of the mill private investor, ever so slightly frustrated by events. I really would be interested to know what financial benefit there would be to reducing the sp further? Isn't it low enough now to hoover up the stock if you know it's going to come good? Not seeing much evidence of that yet.

Thanks Godders, but it was a long time coming and confirms I'm the sort of investor who gets 'emotionally attached' to the shares I buy. I was (and still am) way over exposed on oilies (one in particular :) ) so it was high time I balanced things out a bit. The little proceeds that remained have been added to my small holding in TRX (now that is a penny share!) in the hope I can recoup some of my losses.

In the meantime, will hold RKH until the OM result is known. One way or another it has to reach a conclusion this year which will then give an indication as to our future.

Bit the bullet this morning and cleared out a few of the dogs in my portfolio and a hefty % loss.

When it came to disposing of TRP I got the following message: -
"Unfortunately, the dealing charges for this transaction exceed the funds raised.
Please select 'Amend Deal' if you wish to amend your transaction details."

Considering the dealing charge is £5, gives you an idea of the loss incurred! With an average of over £14 per share, this one will now languish in my portfolio as a reminder of what can happen. (circa £2k invested, now worth 35p)

Feel better for it all the same. Of course held onto RKH, holding in the hope it comes good in my lifetime :)