Member Info for LaticsRule

Guys … we understand your belief that Sealion has the potential to be a world asset and we think so too but we also happen to believe that part of the RKH BoD’s responsibilities are to mitigate risk and accept that they have failed. I accept personally that I made a mistake in believing Sam and not selling out earlier at £4 when ALL of you did. Like the child you say we are, we believe you. Your name calling should be kept in the playground, covgaz.

CitizenTS … thank you for you comments… hope it reaches £2 for you. At you you’ve refrained from abuse.

Nm

And the point should not be lost that is the SAME CEO who has been unable to convince the market that RKH are much nearer to success than they realise.

As I suggested, perhaps Sam isn’t bothered … they have negotiated a loan from Navitas ?

@CitizenTS … agreed and useful to know. The MarketCap is appalling at present and maybe the Navitas loan facility is one reason RKH don’t seem worried by it but should they ?

Good spot, though.

I didn’t suggest his posts were not informative .. they are. They tell me of the blind optimism that isn’t tempered by 10 years of poor management of the Project by ALL parties. FIG included

Takes a fool to recognise one, Mogger.

Mogger … didn’t the previous encumber resign so it’s not technically a new post, but then again I suspect you knew that and posted minimally to make look like ‘yet another post’ ?

IF all the warrants are exercised … I think the floor under the SP will rise in January.

My point is: IF an RNS is necessary when Sam executes his warrants then be and we haven’t seen an RNS, then Sam hasn’t exercised them YET. If the CEO can’t show enough faith in the Company then how can he expect others to do so ?

Of course I may be wrong in my assumption and that he not allowed to buy shares at this moment under AIM rules …. And so the BoD will perhaps gift him some shares to replace them when they judge the time is right ?

Who knows … but leaving it until the wire ?

The RNS dated 22 Jun 2022 states that after the subscription the following Directors held the following warrants:

Keith Lough 214,285

Alison Baker 71,428

John Summers 71,428

SamMoody 714,285

Since 3 of these are no longer directors, the question only applies to Sam. Is an RNS required if he takes up his warrants by 31 Dec 2023 ?

@buzzthomas … I really hope you are right, Sir.

Start of Jan 2024 we will know.

@Godders maybe for the simple reason is that institutions / large holders don’t’ INVEST they simply calculate the odds. Agree it could be considered positive they are holding off to the last minute but I feel fairly certain that IF they do, then there would be NO question of operational risk of missing the warrant deadline. Yet another anomaly in the way PIs are treated as opposed to Institutions. They are only interested in profit.

@r1234 … sounds sensible I agree but why haven’t the big holders done it already … why risk the SP falling ?

Or do they know something we don’t ?

@Citizen thank you for agreeing I’m not one of the flock. Dratted spell check get my goat as well.

Hope you’re right on the warrants but can’t see it.

@CitizenTS - Good question: ‘Why isn’t it 2p ?”

Many are hoping it’s the warrants that are creating a base price for the SP, myself included.

We will find our more in Jan. Personally, I’m not holding my breath but we don’t see a great of evidence that the market in particular is particularly interested in thus distressed share. Even the rate of taking up warrants is poor. Having said that, do we see any signs of large institutions selling off RKH … not sure we do.

My thoughts turn to WHY the RKH BoD hasn’t made any sort of publicity / marketing campaign recently for Sealion ?

One possibility is that they are confident of progress before a capital raise is required or it may just be that they don’t realise ? Deliberate or careless, it’s hard to stomach either.

The new Directors ‘may’ add new thoughts but somehow with the current CEO, I doubt it.

On the opposite side, why did MacDonald leave his share options on the table ? It’s a valid question.

Lots of questions on both sides and the current Middle East conflict may well impact plans one way or the other as the World takes sides.

We sit and wait.

@Ovets / Mogger …. I could be wrong but I think Godders is suspicious that the reason BoD will not buy shares is because in their position they are more aware than most about the possibility of RKH having to raise funds shortly. I suspect Godders believes that the BoD are aware of the difficulties I raising more capital which may well make some kind of warrants an option and then not being able to service the debt before RKH even get to FID.

Anyone remember Xcite ?

Sam isn’t going to confirm or deny according to Company rules.

@Ovets .. as Mogger suggested there is a wealth of information out there on the net, strange he never prompts you to look when you ask someone to confirm the 4 iterations if FEED.

In the spirit of trying to assist everyone, as Mogger suggested, I did some research.

FEEG covers a wide range of processes and it’s quite possible that Godders is referring to did sub-processes of FEED.

BW Offshore were confirmed as being awarded FEED in Sep, 2018.

However, AMEC we’re first awarded FEED by Tony Durrant in 2014.

Other aspects were dealt with by Aibel and they finished in 2019 with BW Offshore being the client so again PMO initiated.

Part of the TLP / FPSO investigations at the time were dealt with by KCA Deutag Alpha.

For the current Design/FEED according to Offshore Technology:

John Wood Group, Magnora, BW Offshore, NOV and yet again KCA Deutag Alpha are named.

Contractors involved: Dril-Quip, SBM Offshore, Houston Offshore Engineering, Loews and KCA Deutag Alpha.

Quite easy to get confused but by my reckoning, TopSide FEED is now on its 3rd iteration.

At least Sam has in cancellation with Navitas if FID not granted by 2026.

Don’t shoot the messenger.

@Mogger, than you, Sir, for pointing me in right direction.

@Ovets … valid point. So who are Navitas uding to re-examine FEED : John Wood Group, SBM Offshore, Wood Group Mustang and TechnipFMC.

These were all used for Shenandoah , maybe someone knows what FEED re-validation process is being undertaken ?

I guess I’m as guilty as many others but keep repeating on this forum the ramping such as this or the negativity of whether finance can be obtained. We all know that Sealion has the potential to be a World class production. Nobody needs to convince us.

It’s the market that needs convincing and that is Sam Moody’s job.