Member Info for longtermthinker

LOL, I'll get my coat!

But either way, it's exciting, the raise is the precursor to FID, they were never going to wait until nearer the time, this means they have got the numbers they will need to get to first oil, which also implies the Funding for FID is in the bag!!!!!!! This in MONUMENTAL!!!!!!

The good thing is, we have't had to give up a percentage of our acreage, that is GREAT news, 3-5% might not seem much, but when you factor in the potential of our whole acreage......... well it doesn't bear thinking about, imagine giving away 5% of Guyana or the North Sea.

I now wonder where we will end up today.

LTT

Cannot believe where we are after Shenandoah first oil, if you’d said to me in November last year, we’d be at 70p on Shenandoah first oil I’d have said you’re having a laugh!

It bodes well for funding news and then FID. I think we will be over £1 on FID, although if RKH has to announce a fund raise with warrants , even for a small amount as a precursor to FID, then I think we will be close to a £1 then! Then, with a fair wind and II starting to get interested with lots of further news in the pipeline, we could see £1.30+, maybe a spike upwards even higher. Whether we will stay at that price is another matter, but I’m in mostly till first oil either way, as once FID is done, we may go up and down quite a bit, but the trend should be upwards as with Navitas and Shenandoah. Plus I’m generally two busy to trade in and out, had my fingers burned far too many times. LOL.

LTT

Thanks ZYX098,

that would make a lot of sense, an FLNG, why not when you have an FPSO, they would just need some big numbers in the gas department to make it worth while, hence I am wondering if JHI come into the mix with Johnson heading into their acreage with possibly even more gas in the area. If the numbers get big enough, then it comes into play.

Either way, lots of possibilities and I cannot wait to see how it all pans out, maybe a partner, maybe not till first oil, maybe a farm-in to JHI acreage, lots of things could happen, one thing is for sure, it will probably be very deferent from what anyone on here imagines.

LTT

I just checked out JHI’s website, previously they hadn’t updated for a couple of years and had no information about their Falklands stake, however I have just checked again (see link below) and they have changed their website dramatically.

If Navitas are interested in gas, and think they can twist FIG’s arm at some point in the future, into having a small footprint on the island to process the gas, they might be interested in taking a hefty percentage from JHI for a carry on a drill or two. This would be cleaner than oil, and could eventually supply gas to the islanders and then export.

It does seem strange that JHI chose now to get their website in order. They are possibly waiting for FID to float the company then raise some cash, as I doubt they have much in hand with a possible drill on their Guyana block later this year/early next.

Coupled with Borders heading up also, it seems a high tied it raising all boats, it remains to be seen if Borders and JHI will be able to capitalise an it once Navitas FID Sea Lion.

https://www.jhiassociates.com/north-falkland-basin

It all sounds very positive and I learned something I didn't know, Navitas where PAID $6m to take on Sea Lion LOL, sounds like the pitch Lucas made to the movie studio, when he said, who gets the merchandise rights to StarWars, so which they said, you can keep them! DOH.

"We are interested in Sea Lion, can we take over?"

"Sure, and have $6m to sweeten the deal as we have better plans!" DOH!!!!!!

Also in the Q&A someone asked if Navitas would take over Sea Lion and they said No, they will look after their partner.

LTT

Ovets,

Just open it in You tude and click auto translate to English it does a pretty good job. Seems to be all kicking off today, what a day to be away on my hols!!!!!

LTT

Sorry the previous link doesn't work, best try the Navitas page and then click the July Hebrew pdf.

https://www.navitaspet.com/investor-relation/

LTT

Mirasol,

that link appears to be the June PDF, the latest in hebrew looks different to me.

https://www.navitaspet.com/wp-content/uploads/2025/07/נאוויטס-מצגת-שוק-ההון-07.2025-מצגת-מגנא-מונגש270725.pdf

Also Navita's is up over 4% at the time of this message. It's all looking good, right, back to my hols.

LTT

Is this new? A new Presentation for July on Navitas investors relations page? It’s in Hebrew but looks new to me .

https://www.navitaspet.com/wp-content/uploads/2025/07/%D7%A0%D7%90%D7%95%D7%95%D7%99%D7%98%D7%A1-%D7%9E%D7%A6%D7%92%D7%AA-%D7%A9%D7%95%D7%A7-%D7%94%D7%94%D7%95%D7%9F-07.2025-%D7%9E%D7%A6%D7%92%D7%AA-%D7%9E%D7%92%D7%A0%D7%90-%D7%9E%D7%95%D7%A0%D7%92%D7%A9270725.pdf

LTT

ZYX098,

I recall Sam saying at an AGM a couple of years ago that they were looking at batch drilling, he mentioned that by doing that and adding or dropping a drill centre they could save a large amount of money.

Trust me to be at 35,000 feet when the news on Shenandoah drops LOL. Could have sold a few Borders too at 7p+, luckily nothing much changed share price wise, but it should underpin RKH in the 60p range going forward. Nice.

Enjoy the Summer. Then heads down from September, wishing it was October/November LOL.

LTT

Tincan, if news was close to us getting a deal, this would be through 10p in a blink IMHO. Having had nothing but promises and raises with nothing material, any sniff of a deal and we will be off, not just playing around with the spread, taking the bid up to 7p then back down again.

I personally think we will have to wait a bit longer, till Sept or Oct, would love to be proved wrong, but with Summer holiday season upon us I just cannot see much happening before.

Even RKH getting the insurance and Navitas getting first oil on Shenandoah won’t budge it, what we need is FID, then we will see who, if anyone, has been hiding in the shadows, waiting to pounce.

LTT

The Peronistas could get back in, but as they were in during the exploration and appraisal stages, their sabre rattling will fall on deaf ears. Still it could possibly affect who might get involved. The great news is we have an international bank involved and initial positive responses to ponying up the cash are good, so we should be ok, even if the Peronistas get back in.

Who knows what state the Argentine economy is in at that time, even the die hards might switch if Argentina is more prosperous under the current government.

It seems the Israeli stock market is on a down day today and it's taking Navitas with it. We are also heading into the Summer limbo season which is the weakest time of year for the stock market, so we cannot expect fireworks even when Shenandoah starts pumping and the insurance gets paid in.

After that, the next news should be due diligence completed or maybe Navitas gets sign off from FIG first; Partner comes onboard to the tune of 20% (wishful thinking on my part!); we get to know how much cash we will need; Sam does a raise with some tasty warrants for all us long suffering; the share price rises to £1+ on the news we are raising and thus FID is all but secured and then, the FID starters pistol is fired and we are off to the races with news of the Rig booking and the FPSO contract being put on run down, ready to be heading off for a refit. Maybe even more meat on the bones with news of subsea contracts, chopper cover, when boots would be hitting the ground, etc!

However until that time, maybe Sept or Oct, there is nothing much to see here, so I'm off on my hols, may drop in from time to time, but will try my best to refrain from posting, as everything that has been said, well...... it's been said hasn't it.

Have a great Summer everyone whatever your plans.

KR LTT

Also why would Navitas sell out to a larger player after FID, it doesn't make sense! If they are going to take on partner/investor, it will be prior to FID or at FID as they did with Shenandoah IMHO. They would be pretty foolish to build the relationships with FIG, then walk away, leaving it to someone else! It could happen as they get nearer to first oil, but I suppose we will just have to wait and see.

By the way, Navitas own 65% of the acreage that contains Sea Lion and many other prospects.

Anyway, Navitas' FID on Sea Lion will be good for us that's for sure.

LTT

Overts,

I know what you mean, always looking ahead, waiting for the next snippet of news.

I am pretty lucky, I had a hiatus of about 7 or 8 years in-between where I forgot all about RKH and the dream, had slowly got rid of all my RKH on the way down, made a bit when is was over £1, but lost a bit selling in the 20p and 14p range! Only came back into the fold in early 2020 as I had a bit of spare cash and I thought PMO where a steal at 70p in late 2019, rode them up to just over £1 on the deal with Navitas and RKH, with the promise of FID imminent , but sold in Jan 2020 to plough into RKH, good timing rather than management as I missed the crash in PMO only by weeks, that would have wiped me out!!!!!!!!

Then I doubled down on RKH, then bought again thinking Harbour would take Sea Lion to FID. You win some you lose some, but having doubled down again and again in RKH, I have a very low average and am waiting for FID.

I know the hold adage, "Your stake is at risk, past performance is no guarantee of future performance, you may not get back as much as you have invested!" but we are so sure, looking back at past performance, thinking it's a house of cards, just waiting for a slight breeze to cause it to fall, that we cannot see that Navitas and RKH might actually get this over the line!

I still wake up in a cold sweat, thinking about all the things that could pull the rug from under this, but then I counter it with the HUGE amount of work Navitas have done; the FIG loan that they will have to pay back; Team Ramsey being hired and the FIG taking on teams of staff to get this one the line! And that is just a small part of what has been going on behind the scenes and under the radar.

I cannot say for definite that Navitas WILL FID this in October or November, but we are surely within touching distance this time, further down the road than we have ever, in the history of RKH.

Good luck to us all.

LTT

Donalb,

thanks for the updated with Shenandoah, seems like the Skandi Skansen and MS Charlotte are busy around the FPS.

Beacon telling the Israeli stock exchange, in the next few days, it could be anytime from now! Navitas seem a little subdued of late, but then a lot of stocks are down today, at least they are not crashing, which is a good sign. We should remember at these times that,

"Navitas is listed on the Tel Aviv Stock Exchange (TICKER: NVPT.L) and is part of the Tel-Aviv 125 index, which includes the largest traded companies in Tel Aviv."

They are in a much stronger position to raise money and once Shenandoah starts producing, they will be rolling in cash, even at 40k per day to Navitas.

So that's 40k barrels per day @ a conservative $45 per barrel = $1.8m per day, 320 days (to allow for down time) @ $1.8m per day = $576m per year. That's a bit of an uptick in earnings from their current income from Buckskin and Monument, even after tax, royalties, etc are taken off!

Once Shenandoah starts pumping, things will no doubt start to drop into place. Then we should get the insurance in the bank by the 11th of August give or take, working on the triggering of the claim at around the 5th of July, and 40 continuous days from that time, although if it turns out to be business days, they it could possibly be at the end of August, but that's no problem as Summer is a limbo time as it is, and we are awaiting the due diligence from the bank. After that, everything should kick off.

LTT

Buffet, I think from memory, Sam said around 40days once they accepted they had to pay, not sure if that was working days or not.

LTT

Buffet, JPDM,

what do you envisage happening with Borders, do you feel they will rise on RKH FID and then a partner will come onboard, or do you see a consortium of Navitas, RKH and Partner come in a take out Borders? With a handful of shareholders owning 50%+ of the company, they would have only to convince those few, to railroad a sale through!

Either way, Borders need to drill a well before the end of 2026, so we should see some fireworks sooner or later.

I just currently cannot imagine what a farm-in or buy-out would look like, maybe a big player is waiting in the wings for FID, then once they know boots will be on the ground in the Falklands and services will be there to be shared, they will pounce, make Borders an offer to take XX percent for 2 drills and a well test. Who knows.

Interesting times are ahead, but it all comes down to Navitas' FID on Sea Lion, that is the kingpin.

LTT

Seems like there is a little gathering around the FPS, the Deepwater Atlas is on it's own.

The update says "in the coming days" so I would imagine, baring any hiccups, we should hear by Friday. I'd like to think Beacon would have kept quiet until now for the very reason they didn't want to over promise and under deliver, the fact they have given an update now, implies they are almost there, "days" rather than weeks away and are pretty certain they will open the taps soon and it will flow.

It will be interesting to see what rate the oil flows at, and how they ramp it up over the coming months, it will be a sign of what may happen when Sea Lion gets hooked up.

LTT

"Azule picks FPSO supplier for major new Angola project — 20 years in the making"

A headline from upstream, a project that has been on the back burner since 2008!

But is seems like we are heading into the home straight towards FID. It's been a long time coming, but hopefully worth the wait for those who have been in since the beginning. I think once Shenandoah is up and running, there will be a bit of a news vacuum over the Summer hols, there won't be must to see here till September I imagine, but you never know!

LTT

I think I heard Sam say at the AGM, that the reason they wouldn't let the southern acreage go was because of the tax losses against it, they gave up quite a bit a few years ago though so maybe they have a few years left, particularly if you take into account the lost Covid years. I am pretty sure Sam would be able to sweet talk them into extending further to keep those losses.

LTT