Member Info for fecm

Ok, perhaps I was being a little too optimistic, but it does bode well if correct. Might be worth dropping the author a line if there are doubts as to it's accuracy.
P.S appears to have been dated today.

Fantastic find again as usual Mogger, much appreciated as always. This could 'almost' be construed as a FID? If not, it's got to be close now!!

Repeated below for those that don't like to trawl through the threads: -

All,
"Premier Oil and Rockhopper Exploration have mandated lead banks for the ECA-backed financing of the $1.5 billion Sea Lion oil field development off the Falkland Islands in Argentina. Secondary syndication is expected in Q1, with financial close targeted for Q2 2020.The loan will come from a combination of ECA and and commercial bank debt. UKEF will provide an $800 million facility, while Export Credit Norway is also said to be covering a portion of the debt. Atradius was originally interested in the deal but has since dropped out of the fold. Standard Chartered is leading the financing alongside two other commercial banks. Portland Advisers are advising Premier on the deal, while while Bracewell is acting for the lenders."

Mogger
https://www.txfnews.com/Tracker/Details/b73440b0-6e3d-49d1-82e6-1dbc62c4c710/Premier-Oils-Sea-Lion-project-debt-takes-shape

Cheers Gozzie. Not a lot of fight left in me these days lol. Hoping for a good outcome for everyone, apart from the shorters of course!

77 share trades (according to this site) is pretty pitiful. Surprised we made 1% on a positive news day. Not many peeps around prepared to take additional risk atm it would appear. Hopefully it will all change soon.

Lol, he'd make a good politician. I get your point Nige. The point I was making is that we won't be hearing any price sensitive info from rkh for at least 2 weeks now. For some reason, I assumed it was longer. Hopefully it won't be the boss last purchase.

Nige, it wasnt a deramp, it was a fact. Directors can't buy shares in their company if they are privy to price sensitive news which is imminent. Falklands has kindly advised on the timescale so it's not all bad. Stop being so sensitive, we all want this to succeed.

Mind you, I doubt anything would be done about it anyway. Good sign all the same.

Does anyone know what the min time between directors buys and price sensitive news is?

Also means no price sensitive news is imminent.

Please please don't give RKH anymore money, I'd be far too old to enjoy any profit from where they would 'invest' it lol!!

You did well Ralph getting out of XEL, and even better making a profit. All that rubbish that was spouted about the company having some kind of IP that was going to be a game changer. Well we all got done over and the bond holders walked away with what was left. Nothing much said after that. We live and learn. Incidently, My RKH holding is roughly 20 times what my XEL holding was!

Lol, the sad thing Gozzie is it wasn't my worst performer! As an ex XEL holder, I all too aware as to how a company can string you along giving the impression nothing is wrong, then pull the rug out from under you. Lucky I'm much older and wiser with my cash these days. Probably why I'm relatively comfortable with my RKH holding, but frustrated as the next holder as to how long it's taking.

Oh really? I've held TRP shares for years. I now hold 132 shares at an average of £14.37 (yes that's pounds). Current value after the recent 'massive' rises - 96 pence. I leave it in my portfolio as a timely reminder as to what an happen to my hard earned. Won't be putting another penny in that one.

And you all think RKH is a bad investment!!

Don't get me wrong, I'm glad we have a deal. Hopefully things will become clearer over the coming months.

IF the Egyptian assets were sold purely as a condition set by Navitas, I would feel a bit uncomfortable about that. What business is it of Navitas as to who RKH does business with? I understand the tensions between Israel and the M.E but by agreeing to this condition (if it ever was one), we are kind of taking sides? Makes me question if the Navitas deal was the only one on the table - and we know what happened the last time we were in that position. If there were other offers, then boy they must have been taking the Michael.

Anyway, this is purely speculation and we are not privy to any of the negotiations. I'd prefer to stick to the thinking that the assets were sold in advance to keep the company afloat in the event of a no deal. As we don't really need the cash right now, is it too late to hang onto the assets, especially as they seem to be doing quite well?

I'd guess if any of the majors did show an interest, the terms were not favourable. Tend to agree with the broker report comment earlier, especially when talking about AIM companies. Not sure if there is a regulatory requirement to have them but they are not cheap and there doesn't appear to be any recourse against them - other than change your broker. With so many variables, it's no real surprise they are often out. At least this time the latest report seems a little on the conservative side.

"Project sanction: within next 12 months (subject to securing funding)"

Anyone able to make an estimated guess in the timeframe between FID & Sanction?

Sorry, messed link up: -

https://www.offshore-technology.com/news/rockhopper-deal-premier-oil-navitas/

"Rockhopper expects to receive up to $48m worth of contingent consideration from Premier and Navitas on future development phases in the North Falkland Basin site.The companies involved expect the finalisation of a sale and purchase agreement during the first quarter of this year. Completion of the transaction is subject to necessary regulatory approvals and expected during the second quarter."https://www.offshore-technology.com/news/rockhopper-deal-premier-oil-navitas/So it is expected 'farm in' partner confirmation RNS won't be until Q2 so a little wait until our next 40% rise. However, hopefully positive Zama sale news will arrive before then potentially giving us a few more percent. The question I have is will UKEF be prepared to sign off after that or insist on waiting until Navitas are on board?

Great post SecretBlueprint. Perhaps Odey might have won had FIG not done what they did. If he had won, would we still exist today? So many variables in this business. I'm just glad we're still in the game.