Member Info for lsetown

Anyone know how much cash they'll have left after the Egypt asset sale?

Rockhopper have been paying a portion of all the costs to now for FEED etc. haven't they. The cynic in me thinks that PMO could be hoping that these slowly sink Rockhopper and so make an easy buyout. Perhaps this Egypt sale is Rockhopper trying to maintain sufficient solvency?

All the previous posts about the board's remuneration ring true with me. Us shareholders have paid significantly so far and I think it's time that the board showed some empathy and reduced their costs!!

If the Falklands does go ahead then the carry from PMO and our percentage of Sea Lion make us very attractive with multiple times the current market cap. of value to PMO.

Even if FID is held back, Rockhopper need to have sufficient cash to fend off any cheap deals from PMO.

Here's hoping the Ombrina Mare arbitration solves all!

These things don't end in a stalemate. It's either an award or not.

I agree that this share has opportunities, but how will they come into play I wonder?

A takeover from the Sea Lion consortium?

Another 5% Royalty deal?

Yes, after reading Sam's last paragraphs I sense a farm-in coming too.

I agree Fernan10 that PMO may be in a position to get this going themselves soon.

I find your comma and full stop (period) use weird though.

'US$ 1.100 million' must be internationally better read as 'US$ 1,100 million' ( I know some europeans use this format though)

but

'2,22 times EBITDA' doesn't read half as well to me as '2.22 time EBITDA'.

Many thanks once again Mogger.

When this goes ahead I am going to travel to the Falklands and see that infrastructure!

suresh786. The release implies it is only part of the application.

None of that matters though as long as we do have an imminent loan application !

Just read the proper release. It implies that the memorandum is onlt part of the application. Good!

"A comprehensive set of independent expert reports on the Sea Lion project in the North Falklands Basin has now been completed. These, together with the Preliminary Information Memorandum, will form the basis of a loan application package which Premier plans to submit imminently to export credit agencies for the senior debt component of the project financing structure."

Good Premier update video thanks.

Tony says they are submitting an 'information memorandum' to various funding sources.

What is an 'information memorandum' ?

I use the Filter - it makes threads a lot calmer.

Try it if you haven't already - go to the 'Filters' tab above and paste in any user's names you don't want to hear from. Easy.

Thanks for the reply - good information.

This share will re-rate so much if this all goes ahead.

I hope your post count increases going forward!

Esbjerg99 - sounds interesting - are 6 FPSO's mentioned anywhere?

2018-19 accounts due this month I think.

I'm hoping that while their competition has been closing shops, they have continued to grow.

The annoying thing is that they still owe FIG about $80 million for the PMO farmout Capital Gains Tax. They don't have to pay it though until either we are at first Sea Lion oil, their Falklands holdings are sold, or if they want to pay a dividend.

It should at least keep the idea of capital raising away.

Thanks Mogger.

Looking into Harbour Litigation Funding I came across this Guardian article:

https://www.theguardian.com/law/2012/may/25/litigation-funders-booming-market-uk

They say in there: "Fees are not standardised; a smaller percentage is charged for larger claims".

Looking at examples online I think this case is probably 'a larger claim'.

I thought the Ombrina Mare extension was what GreySquirrel was talking about.

Only the other day I was thinking about electric cars and global warming and came to the conclusion that this was a dead investment and I should de-risk by selling.

But no!, there is a chance still that Sea Lion and Isobel get going and that will make this share!!

As far as I understand it the actual tax change here is not much. I think they said retrospectively it is under $1 million and it just looks like they are changing something about leasing and Capital Gains that wasn't setup in a standard way.

Yes Wow. Many thanks Mogger.

Do you have some sort of web search going for Rockhopper?

Also please tell us you are invested here!

Yes, the US shale drilling looks expensive at best doesn't it.

We are in a strange place now where the FTSE rebadges Oil & Gas as 'Non-Renewables' and the bloke down the pub says oil is yesterday's news and we are all going electric. The climate change lobby is growing in strength but oil consumption is at record levels and is predicted to climb further over 20 years.

I keep looking at this and am already in RKH and even have a bit in ARG. But what stops me here is that the SFB is a significant step away from the NFB, which itself has still yet to go ahead.

RKH is a a gamble but BOR is a REAL gamble.