Member Info for fecm

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."

this morning. Lets hope it continues.

Good observation Mogger. Guess the UK Gov will need as many 'good news' stories to surface as we leave the EU. This one would be up there with the best.

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."

By Whom, and why? Interesting.

Check todays RNS and add Egypt Asset disposal in Q4 to your list timeline list.

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!

well I've decided to be greedy when others are fearful. Topped up just below 20p. Cheapest its been in a long time. We are hopefully closer to FID than ever before.

Malcy posted: -

"Overall this a a genuinely important step for RKH, it is a significant step for the financing after talking to the lenders for some time so this won’t come as a shock to them, I understand that they have already appointed their own advisors for the process. It is also a strong sign of commitment from Premier as I can’t see that if the lenders say yes how it won’t then proceed."

If the advisors have been appointed then the PIM hasn't been put to the bottom of the in tray or filed under b1n.

Could easily have put it off until later in the year.

If PMO have somebody based in FI permanently, then job done (Sea Lion interests covered). you still haven't explained what a RKH rep in the FI would do all day to justify his salary? Perhaps once Sea Lion is sanctioned, Sam will review the situation and may then see the need to have someone down there. In fact, having someone down there bothering the (small) FIG on a daily basis might be negative for the company.

If there was a need to have a person in the FI then PMO would have one there. They are the operator, they run the show and they call the shots. We are merely passengers on this trip now, have been for some years, and PMO hold the keys. That's the situation and nothing is going to change it. We are where we are, like it or not but that's the situation.

Strange how all of these negative posts are not being put out on the PMO board as well, after all PMO have been in the driving seat.

Waste of money. The relationship can and is achieved through the use of modern methods of communication and periodic visits.
And before its mentioned, there are no 1st class tickets on the Falklands Airbridge and a limited number of business seats!

Doing what exactly? If there was then the questions on here would change to what are they doing paying somebody in the Falklands when nothing is happening.

Not seen a buy like that for some time. strange the sp barely moved.

Great post rpoodle. I think the focus on Sea Lion is taking shape nicely -

Sam Moody, CEO of Rockhopper, commented:

“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.....

Finance discussions continue into the autumn, presumably while the loan application is reviewed? -

We have a number of potentially transformational catalysts in the coming months including the hugely important submission of the Sea Lion project information memorandum to senior debt lenders, continued progress on Sea Lion financing discussions in the autumn and the outcome of our Ombrina Mare arbitration in Q1 2020.”

What else do they have up their sleeves?

Nigoil, "More to the point carroteater, what will the UKEF accepting the financing proposal do to the sp?"

Probably something along the lines as what is happening to JOG today. Wish I'd got a few of them!!

And exactly what are they going to seize it with?

You don't think PMO will have a Plan B ready to go?

Where did Much state it was new information? He even opened his post saying the interview was a week or so ago.

Anyway, not alot appears to have come of your insider trading theories from last week, nothing that would significantly move the sp was in PMOs update.

Thanks Marunam2, I'd forgotten about the well result!