Member Info for Leo_IX

It's been said before but they can't raise below 5p without a capital reorganization, shareholder approval and high court permission, all of which takes time.

But only if we're billionaires today..? 🙁

A raise before summer would be very disappointing given this update from 18/12/25:

Cash outlook remains in line with expectations and the Company continues to have sufficient cash runway through to mid-2027.

If they'd stop dishing out taxpayer cash to cowboys to ruin people's homes with badly installed insulation it would be a start. Will earnz be involved in any of the remedial work to these properties? So much to do...

Ditto iWeb.

Is there a wall of returned cash heading for RKH? Or is it more of a trickle?

Yep, it seems Crofty and Blue Defender are right, smaller applications have been given preferential treatment rather than just issuing 4% across the board. I've received 19% of my excess shares today from iweb/Scottish Widows having applied for ten times my very modest entitlement. The exact method of calculation remains something of a mystery however.

I seemed to remember something about Navitas having a veto over a RKH sale, so resorted to using Ask Leo (no relation).

Yes, Navitas Petroleum has a mechanism that effectively gives it veto power over a takeover of Rockhopper Exploration under certain conditions. According to the terms of the Placing Letters signed by Rockhopper, if a takeover offer becomes unconditional or a scheme of arrangement is sanctioned by the court, the Placees (including Navitas) are entitled to elect to acquire their Placing Shares, Underwriting Warrants, and Interest Shares within 10 business days of the offer document being posted to shareholders.

This election is conditional on the takeover becoming unconditional or the scheme being sanctioned, but it allows Navitas to participate in or potentially block the transaction by exercising its rights under the agreement. This provision ensures Navitas retains influence over the outcome of any potential takeover, effectively giving it a veto power in such scenarios.

Both director buys, for trivial quantities as announced in this afternoon's RNS. Meanwhile Octopus has sold down below 4% and the share price rises. All very peculiar.

Cash until 2027, good news (if it comes) long before then. Bought a few more. Dummy buy for 100k went to NT despite other trades apparently being sells.

Dictionary for Mr Supra please!

Share placings generally put a floor under the price while the placees quietly unload for a small profit. The fact this hasn't happened is a sign of the market's displeasure. A dramatic downgrade to revenue forecasts, surging costs and an unexpected fundraise have shot a large hole in management credibility, yet many here are reassured by today's presentation. Good luck to those who still believe.

Definitely a lot of negative sentiment around TEK after years of disappointment and IPOs failing to ignite the share price. That'll take a while to turn around and in the meantime stale bulls will be taking the opportunity to get out. I know that because I'm one of them, selling at 8.52p today after almost six years, while I mull over whether to get back in or try my luck elsewhere.

Taking on board all of SpaceHoppa's gripes and largely agreeing with them, I think we also had a couple of pieces of good luck in the fundraising department. Firstly appetite for the shares shrugged off the annulment fiasco and uncertainty over the insurance payout. If the share price had retreated to the 40p region as some were expecting, we'd have been raising money at 30p/share last week not 53p. And thanks to Trump's erratic handling of the US economy, $140m just isn't as much money as it used to be. Regarding the warrants it's worth remembering that we long-termers took ours at just 9p not so long ago. That's where our best moneymaking opportunities were, sub-10p and after Navitas took over as operator. Hopefully everyone managed to pick up enough back then to cushion the blow of subsequent dilution - even SpaceHoppa.

Are you sure you're cut out for this Ripley?

May not be such a big discrepancy after all - TSX is 5 hours behind us. Down 29% at its lowest point around the time London was closing, TXP rallied later according to Yahoo Finance figures. Could bode well for tomorrow morning.

You shouldn't believe it. Earnz took over a cash shell which used to be Verditek - totally different company. Is there anyone still here from the VDTK days? Would be nice to think they had a chance to recoup at least some of the losses.

Yes it's been a real campaign of terror from me, seventeen posts in the last three years. I'd forgotten the unwritten rules of the MTL discussion board

1) No one may post unless they are holding shares

2) No one may post a negative thought if they are a shareholder

3) All trades to be reported so the poster's motives can be established

4) Rules 1 and 3 may be disregarded as long as the poster is ramping

Amid all the positivity in the results, this sentence leapt out -

"We will be utilising existing and future cash generated from Runruno to fund the construction of the La India project, thereby reducing dilution for shareholders."

There may have been an assumption that cash from Runruno would have been sufficient to see the company through its near-term development. But the company is talking about reducing dilution, not eliminating it. Could this be what's holding back the share price?

Even if the NFB does become a new oil province, small investors will never see the true benefit. If a bid came tomorrow of £1/share there'd be a stampede of PIs racing to cash in, regardless of future potential. The longer that day is postponed the bigger the rewards, but once the institutions move in and simplify the shareholder base it'll be even easier for a predator to influence a few key players and take over. Hold and wait for the inevitable buyout, that's my exit strategy - couldn't be simpler.

I see your ramp and raise you...

60 bn barrels in NFB, say 20 bn recoverable, 35% to RKH = 7 bn.

7 bn/640m shares = 11 barrels/share.

Even at a modest $20 profit per barrel, that's pushing £200/share.

Ramp over.