At the thick end of the wedge now Biggleswerf, there should be very little wiggle room to reject it given the work EDR have done between this one and the last. I think maybe a deferral and re-heard in December and approved with a long list of conditions. Just my gut feeling.....
That just an assumption or a fact porkpies? This just feels like rinse and repeat. I’d of expected more assurance prior to diluting a companies stock and spending £4m. If it’s a requirement to satisfy any farm out then I’d expect it to be a term of the agreement, not a loose pre requisite.
Dunderhead, I have very little confidence in the BOD. Why would you arrange a fund raise/placing when you had a pivotal farm out announcement pending board level approval by a major farminee? Surely if you were confident in the outcome of such a deal coming to fruition you would wait for the outcome, announce farm in, let SP recover then raise funding at an elevated share price resulting in significantly less dilution/shares being released to market, I.e have shareholders best interests at heart. It just un nerves me, I’m sure similar logic was applied to the last placing and the optimistic words surrounding said placing came to nothing.
Carrott, you really are Mr/Miss glass half full, from the half year results in September: The 2017 annual report is a little out of date, do you focus on all the negatives and none of the positives? “Year to date highlights Sea Lion Phase 1 development - contractors in place; further FEED awards; ramping up activity and development team headcount · Letters of Intent signed with all key contractors for a range of services and vendor financing · FEED contracts awarded for all outstanding elements of the project scope · Field Development Plan substantially agreed with the Falkland Islands Government · Environmental Impact Statement public consultation process completed · Significant progress made on a number of technical fiscal matters with the Falkland Islands Government · Project momentum building with budget approved to expand Operator's project development team Outlook Ramping up of Sea Lion development towards project sanction; focus for 2018 remains on securing senior debt to allow project sanction in mid 2019“
Rudey, if that’s the case then it’s understandable, I take it that’s a regulation? I’m getting a bit peeved with the rinse and repeat data room attempts and cap in hand antics, feel like the shareholders here are paying for nothing whatsoever, no real progress to report on since I took a position here and the company SP is now exactly 66% down over the term. Anyone have thoughts on any upside provided by a successful outcome at Wressle? My ideal scenario is approval of Wressle with conditions by year end and Ireland farm out (by end of Q1 2019) with firm drill commitment in the near term (H1 2020), then see where it takes the SP. Whether I continue to hold or not absolutely depends on the presence of a firm commitment to drill.
Carrot, did my mind work this out correctly? You’ve spent in the region of £780,000 on RKH shares and currently carry around a £340,000 paper loss and you’re chasing after more? I sympathise with you if that’s the case, but bleating in here won’t actually fix a thing I’m afraid. Have you spoken to any of the board members or investor relations regarding your concerns? Your losses are the equivalent value of my residential and rental property. You could have bought ten reasonably good rental properties up north for your invested sum and generated an annual gross income of £50,000 in rent alone, I could retire and skip the next 35yrs I’m expected to work for that!
h1oyo, the only reason this share is in the position it is comes down to market sentiment post POO crash. Are you saying the BOD are responsible for that? I’m not overly supportive of them myself, however a lot of people are bashing them, saying they deserve car salesman’s wages etc etc. All because they bought in too early and haven’t had their own way (profit)..... They don’t force you to buy shares here, you push the button and make that commitment yourself. If they were conducting fraudulent activity they’d be investigated, shut down and prosecuted accordingly.
I’m questioning his commitment in the current placing Tommy241, not his historic commitment. If he was on song with the company and the path it’s going down, and believed in the latest carrot being dangled then I’m sure he’d love to take the opportunity to average down in the bargain offer placed in front of us......
Do I have to Tommy241? If Hugh is telling the truth and William is on his page he’d be supporting the placing, he’s a major shareholder and on the board of directors. They’ve asked for our money therefore I’m of belief they should cough up some of theirs as part of honouring that request.
Dunderhead, It’s all in here: http://europaoil.com/documents/EOG-PlacingOpenOfferRNSFinalFinalCLv2.pdf Brian O’Cathain & Simon Oddie have applied for 250,000 shares (£7,500 each) and Hugh intends to apply for 1,000,000 shares (£30,000). Maybe the rest have wisened up......
Slip landed in the post with a note from Halifax stating that they received late notification of the AGM taking place on 07/12/2018. Time to tick the boxes and return promptly, especially if you're not happy, this is your voice. Also to note that William Ahlefeldt hasn't elected to support the recent placing through his nominee account, I'm glad of this, I think he is someone who's voice will be heard louder than any II or PI in the land, I hope this lack of support is a reflection of him not agreeing with the goings on of current times.......
Also, if anyone’s uncomfortable with the timescales here BP has just brought first oil from the Clair field. It’s only took 40 years from discovery, and that’s a major, we’re not looking too shabby.....
If SL sees production (it’s as close as it’s ever been) then they’ve earnt their keep for me. You can bash them all you like for choosing PMO as a partner but I’d hardly say people were queing at the door with the money to go poking the drill but around FI at the time, so they took the only option on the table and it has been a success, they found oil, and lots of it. So a car salesman brings in double his draw and that makes it ok? Then flip the tables and give the bod half of SL profits when it comes on stream? Do you hold here Caroteater? If you do then why did you buy if you have such terrible views of the BOD? Nothing has changed with them in many many years. Almost every company of RKH scale in FI has gone tits and we’re still surviving, with diversification and bringing in an income with a massive upside being SL funded on favourable terms to us. It’s like banging your head off the wall reading some of the nonsense that’s posted on here day to day...... Are PMO looking after Egypt, Mexico? Looking for new ventures? RKH tax affairs? Making the tea? Sams wages? Aren’t they covered by the RKH balance sheet?
Has anyone found anything decent coming out of the Irish presentations this week? POO won’t help sign off of any farm in at the moment I don’t think, let’s hope it bounces back shortly, I can’t see the recent drop helping the decision making process unfortunately. Looking forward to the outcome of the planning meeting Weds, can’t see us getting away from Hughs most recent 3p valuation though, be lucky to sustain it given we get the boot again, not looking forward to the 2’s if so.....