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14% down on no news and 1 big sell, book turned early pm. Are we to revisit the 1's again? Patience wearing thin I suspect with zero comms, perhaps we will have one soon. I suspect a holdings RNS is en route if nothing else, on a positive there's always a buyer for these larger sells.
Page- they have been in talks for 10 years, it's time to stop the talking .... it can't go on forever. In fact forever may not even be enough time for this board. Communication is dire and they need to say something, even if it's negative!
"Potential industry collaborators" seems to be the same message in every rare RNS we get, chatting to this lot forever and fast forward to now seeking an FPSO for redeployment. The message is muddled to say the least, seeking an FPSO without an appraisal well to accurately calculate outage from Darwin and without finance to pay for one. Right now we can't afford to dig a hole for some daffodils let alone oil wells. It's bizarre and it's time for the collaborators to put up or shut up and walk away, the board need to come clean with what's what. If that means putting a for sale sign up, then so be it! This stock is like the living dead, yes it's active with a faint pulse but well and truly dead at the same time.
Page, overheads are very small for an oil company but pretty high when it's an oil company with no income. Dobson will keep buying more of the shares created to keep the project on track to production, but the journey there will be a continual dilution for the rest of us so they need to get this thing over the line pronto and within 2024. I have no idea why they are tinkering with presumed output to FPSO's available for redeployment now, very premature and the whole thing is baffling (unless project finance is in the bag- but that news should be released)
Well LTT I agree on a little, but we do have a fully costed production plan in place and as for High spec rig- its off the shelf stuff. True we haven't got loads of cash but to get a deal concluded, we don't need loads of cash and we also own 100% which is a lot better than RKH can shout about! Major shareholders wouldn't agree to 15-20 million cash in my opinion (that's what we are valued at now!!!) but I do agree that if we don't get this thing over the line and very soon, we are at the mercy of a cheap t/o and most definitely an offer from NAV down the line I suspect.
Personally I don't believe it, if it was me with this knowledge I would be loading up and getting all family and friends to do the same. I certainly wouldn't mention it online, we've had 11 trades today including 2xuncrossed. I think that says it all for now, but hey- I hope its true of course!
If RKH FID is a go-er which I suspect it will be, they will re-rate and so will we. We will be so so much more valuable with RKH going into production, remember that our asset quality is better and we can match RKH for barrels. But the single major difference is that we own 100%, 10p here when RKH get the go ahead- my personal prediction. Every investor in the FI oilies deserve a return ( apart from DES management), ironically it took a minor player from Israel to make things happen. Again shame on the ball-less politicians of this very very weak country they call The United Kingdom, WC would be utterly ashamed.
What I do not understand is why the board are marrying up various production outflows with an FPSO and availability for redeployment now? RKH/NAV have only just found theirs and are basically at the doors of FID. It just strikes me as bloody strange considering we haven't the finance or partner right now or even tested real time flow rates through the appraisal well. Last RNS was September and an update would be nice (before they actually have to) As time goes by and if RKH do get FID, I think its an obvious scenario that we would get gobbled up by a Nav consortium of sorts down the line.
With the increasing likelihood that Sealion is now going ahead, has the market overlooked little old Bor with our key asset actually being better than RKH, and a similar size discovery. Better economics, faster payout and we own 100% of it! I have always said if RKH happened, then our asset will.
Interesting year ahead I think
Weird, all the transactions happened yesterday and the new guys binned off 3 million shares to somebody else to keep under 3%. Begs the question why they didn't buy 3 million less in the first place- or did they buy on behalf of somebody else? If that's the case we can see multiple holding RNS's flying around soon.
Damille selling to Creselly , one major going out and one coming in. A win win for all though, Damille picked all theirs up from Lansdowne years ago at a super cheap price and have made loads of money on the back of it ever since (Lansdowne suffered big time) and Creselly have done well at this price because there haven't been the amount of shares available to buy at the price they got (in the 2's). Maybe the brakes will get released on this stock now.
It's a large trade, obvs pre agreed because on the book or quote, that trade was not available. Nice to see something happening in the background, for me it would be nice to see a new holdings RNS and I hope to see one soon.