Member Info for GetOnYerBike

I asked Chat GPT about MOU's.

"An MOU (Memorandum of Understanding) is usually not a final binding contract for the FPSO itself, but it is still a formal commercial agreement that requires legal, engineering, commercial and project-management work by both sides.

For Navitas and the FPSO provider, costs can include:

Legal teams drafting and negotiating the MOU.

Technical studies to confirm the FPSO's suitability.

Engineering work on topsides, moorings, processing capacity and field layout.

Project teams working on schedules, budgets and risk assessments.

Travel, consultants and due diligence."

So there is a cost involved with these MOU's. It goes onto say depending on the legal framework they may have an agreement that they reserve a certain FPSO for them while they complete due diligence, engineering studies etc. So basically its a first step to securing an FPSO, and looks like, to me, that this is the direction they are traveling to!

Now if it comes to RKH requiring more funding to meet their share of costs, let's hope us PI's are not left out this time, or at least not left with the crumbs again.

May be mistaken, but do they not normally announce the date of the AGM with the final results?

Well the market does not seem to care about the extra 5 million, its all about the MOU about the extra FPSO. I would say prudent to take the gamble and move work away from the ME, not knowing what's going to happen there in short medium term. Also great news with ECO, Navitas farming into their S Africa field.

Or even better (if your an ECO holder)get it down early to drill PL001 first.

Great to see Noble Edeavor and Sealion in the same sentence in black and white. Wonder if they have slipped up mentioning contract as Navitas have not announced it officially yet. Maybe contract not fully signed off.

Yes I agree it does look like that could be the rig. Wonder why they have disclosed the day rate? Most operators seem to keep it under wraps.

Mogger,

Which rig is it? I could not find any mention that we had a named a rig yet.

Bought a few today too. Just dipped my toe in as too risky to put significant cash in. So with Pulsar that makes two stocks in my Helium portfolio.

With the negative press and dent on SP, took the opportunity to have a small top up to satisfy my OCD and top my shareholding up to a more rounded number! Lost a few shares in when I bed and ISA a week or so ago too. Hopefully a pound soon.

Anyone looked at this company?

Rift’s senior advisers and largest shareholders are Neil Herbert and Tom Abraham-James — Executive Chairman and CEO of Pulsar Helium respectively.

Doing a seismic program, high risk early exploration play, but good prospects if all the ducks lune up.

Welcome to ECO. Your buy seems to have sent the share price up anyway :-) Not just a one trick pony too, plenty of other interesting areas of the world they are invested in too. Best risk reward on the AIM.

The Iran conflict, although it has hit some of my assets hard has been a net positive for me. I'm quite exposed to oil (probably overly so), and on this occasion it is paying off. But I think oil prices were about to slowly start climbing to 100k BBL for the future, which is my reason for being over exposed.

1. General lack of investment / development in new fields and geographical areas. Investment was hit in 2014 to 16 downturn in oil then hit again just as it was getting going, and has not really recovered to full extent.

2. Production decrease, basins in net decline like N. Sea, and lots of others. Fracking in USA now mature, and fields no longer increasing production. Not economic at lower oil prices. (Although a higher oil price could mitigate this).

3. Demand. This has continued to increase year on year (only a slight drop during covid).

4. Russia. Sanctions have hit their fields and producing wells shut in. This will do long term damage to wells and will mean even if Ukraine war ends they will take years to bring production levels up to what they one were.

Now this was all happening before the latest war. If this does not end soon there could be long term damage done to some of the oil wells in middle east which could take a while to put right. It all points to higher prices for longer, I would say the next five years or so. This puts ECO in a great position going forward. And RKH my other larger holding. Once the war is over and oil prices initially come down, I will be adding to oil related positions.

79p now. Highest price since the FID announcement. On and up. Every month is a month closer to first oil, and value hunters should start re-allocating to future producers IMO.

And nearly 16% here. Can't understand why, as oil stocks are all down with the potential Iran deal. Maybe some positive news leaking to insiders.

Its interesting and exciting that they seem to intend to drill PL001 pretty soon in tge program abd bring it online ASAP after that if its an economic discovery. Getting a happy fussy feeling about bith RKH and ECO going forward.

Sorry if already posted. Think some have commented on contents. Skip forwards to 16 mins for the English speaker mentioning PL001 and plans for Sealion. https://www.youtube.com/watch?v=rQJgIwlw2c8

40,500 shares purchased in my ISA. Already bought a small holding last week for daughters JISA. I plan on selling into any positive news and buying back when price settles afterwards building position. Seems to be a good strategy for oilers in this phase of the business.

Sorry if already posted but just came across this today after watching this company since beginning of month. Just dipped my toe in today, and hoping to add more in coming weeks as funds allow. Been holding back until seismic hype died back.

https://uk.finance.yahoo.com/video/sintana-energys-mopani-asset-drives-171902173.html?contentType=VIDEO

Shardoc01,

Yes I would agree this company is well undervalued, which is why they seem to be on a marketing campaign (not sure if already posted but I'll add presentation in another thread). I just bought into this today (only child's junior ISA for now but waiting for fund liquidation to add to my own ISA, and add more early next month in new ISA allowance). I've been waiting for seismic survey hype to die back, which it seems to have done, so good entry point IMO.

"This means that there is a possibility that the ship will sail this summer to the Falkland Islands. Then drilling could absolutely happen in the second half of 2026.

Fingers crossed!

Best regards

MrMil"

Mr Mill, this 'FPSO' is never drilling anything. The clue is in the name.