RE: The Falkland's oilies28 Apr 2022 08:14
Argos- No asset find, working on the assumption that they have something as they are next door to RKH. No partner and running out of cash quickly, will need to raise cash very soon. On the plus side, only 235m shares in issue
RKH-Nice asset but a very poor first farm in deal, wasted all the cash given and now own only 35% of the asset. New partner lending them cash at 8% and they have a hefty tax bill from the Falkland Islands. Already stated they need more cash and need soon, tribunal on the Italy farce may save the need to raise if they win the award. However it may take years for Italy to pay so dilution on the cards.
BOR- Huge asset and now in demand more so than crude, fully funded to next year and own 100% of the asset.
My assessment only