Member Info for lsetown

The two Namibian drill results from Total and Shell are due this month aren't they - if good they could be a game changer for us regardless of any Cameroon issues.

Why is that bad?

TRCSA is a subsidiary of Tower, not TRP itself.

It was pumped but I don't think it will be dumped. Here's the video from Christopher Mills at the Fulham Shore point:

https://www.youtube.com/watch?v=cG7_82WZdmc&t=2788s

Yes - thanks JRich20020. I hadn't realise that they anticipated the possibility of a delay. From the Farmout RNS:

"Tower, through TRCSA, will remain Operator of the Thali PSC under the JOA, and in the event the formal farm-in agreement and approvals cannot be completed in good time then Beluga will instead receive an appropriate share of the Operator's share capital and Tower's intercompany loans to the Operator, subject to a shareholder agreement, in order to reflect the intended farm-in economics and JOA terms."

Seems pushing the space bar twice submitted my last post before I finished it!

The upshot appears to be that he keeps the 1,388,762 1p options issued in 2020 vesting in May 2021.

He loses 8.5 million options from then on. It would be a lot of money if Sea Lion got into production!

Stewart MacDonald, CFO

1,388,762 1.0p 19 May 2021
2,833,333 6.25p 19 May 2023
2,833,333 6.25p19 May 2024

2,833,334

6.25

19 May 2025

I agree Klozza636 - I do trust the management here and I think they will be trying to improve things. It is calming to have trust in management - I have finally learnt that lesson after many investments that failed due to dodgy management.

Perhaps Mid 2022 they will rebrand to "The New Real Greek" lol.

Agree to that Glenrothes1969. How are we sure FIG are happy here? Is this deal a pre-emption play by Rockhopper perhaps? Keith Lough mentioned that they were trying to keep the licences didn't he.

In all the years I have known this share I think now is the most difficult time to know what to do.

Yes, completely agree. They do have a rationale - it is manipulation - get the price up and sell, then get it down and buy. Repeat.

If this comes off though I'm sure they will have sold out far too early!!

Lol. Yes I have the same problem!

Remember I am answering the thread "What are the negatives"!

Navitas have put very little money into this upfront so they won't lose really whatever happens. The deal itself is hardly surprising but I don't feel that Sea Lion is any more likely to go ahead. I'd buy at this price if I did.

This deal keeps the BOD paid for years and Navitas is given a virtually free option on 65%.

Are you admitting lunacy?

Have a look at the video. They are bullish and hint at a future dividend.

Here's the video I was talking about:

https://www.youtube.com/watch?v=Xwai-kB7BkM&t=1s

21.5p on Monday??

Saw the recent Hardman video with Mr Page and Mr Wong. It was Interesting and I am hoping next weeks results are good and a dividend will appear.

Also they mentioned that they had two Michelin Starred chefs working with 'The Real Greek' staff this week. That really cheered me up because 'The Real Greek' is not as good as Franco Manca IMO. I have visited it a couple of times with my family and they weren't impressed with it both times either. I thought the meal lacked freshness and quality and it wasn't particularly good value.

Believe it or not companies in worse positions than Rockhopper raise money. I believe those investors may then 'forward sell' or just sell, but make sure they make a profit.

Some companies ramp the share price up via RNS. "We are now complete holders of the entire stuff!" or similar. Then a few days after the share spike the company raises.

But our BOD has no experience of this and anyway are they able?

AIMHO and WTFDIK

Companies raise funds all the time.

As a guess - say 15% of current shares issued at a discounted 3.5p would raise £2.5m or thereabouts.

They won't go bust - if OM fails the BOD will just issue shares to pay the big salaries.

I'd be amazed if Sea Lion gets developed now.

I must admit that the news today that flights from/to South Africa and Namibia have been suspended made me worry a little. Hopefully it is only temporary though:

"Amid the concerns, flights to the UK from South Africa and five other southern African countries, Namibia, Lesotho, Botswana, Eswatini and Zimbabwe, have been suspended until 4am on Sunday.

From Sunday onwards, new arrivals of UK and Irish residents into the UK from those nations will be required to quarantine in government-approved hotels for 10 days after they were placed on the red list on Thursday night."

https://news.sky.com/story/no-cases-of-new-variant-in-uk-but-highly-likely-it-has-spread-to-other-countries-javid-says-12479219