Member Info for lsetown

Superb . Many thanks Mogger!
(That first link has full stop in it that I had to remove before it worked for me)

Yes, 12 months and a Zama sale and debt would be close to $1 billion which would be easily manageable.

Yes, I agree she was definitely suggesting that Zama could be sold.

I think it's about 25% of 800 million barrels so 200 million barrels net to PMO.

How much would they get for it I wonder?

For instance, appraised oil sold at several dollars a barrel would almost halve their debt at FY19.

That makes more sense. I know the EU is trying to get member states to close all their bilateral agreements.

'Absorption' or 'Progress' depending on your opinion!

Actually, this case isn't like that Romanian one at all is it. There were no withdrawn incentives here, so I can't see how the EU Commission could argue that any compensation award is 'State-Aid'.

No wonder "the Tribunal rejected Italy’s request for the suspension of the arbitration and Italy’s related intra-EU jurisdictional objections."

Yes, this is so much better than the II debacle.

His eyes are twitching.

Soon he will be awake.

They may be well respected but we all know journalists make mistakes or hear the wrong things.

If PMO / RKH sell a third of this for only $100 million and there aren't any funding agreements included then it would be a terrible mistake.

So far all sides have spent nearly a billion dollars to get here and that was successful exploration and appraisal FFS.

Up and running the 80+ thousand barrels a day production would provide the same profit as that $100 million in about a month!

The only way that would make any sense would be if the buyer also offered all the funding.

Interesting thanks Mogger.

It says in there "The GCEU did not rule on whether such an arbitral award in respect of a post-accession investment would be enforceable or within the Commission’s competence to block."

Italy was already in the EU so this may not be decisive.

Sadly, I hope they do live to regret it!

Q. "Assuming Sea Lion gets to sanction, will Rockhopper need to raise any funds via equity issue?

I may be able to make it tomorrow. Are people meeting for a pint afterwards? If so which one?

Me too. I have registered but not sure if I am going. There must be some people going from here!?

(If the BOD outnumbers the attendants it could get intimidating!)

Hope to make it on Wednesday but I bet it will be quieter than 2011 lol.

I'm not getting on an electric powered aeroplane!

lol.

Good question and I hope someone asks it too.

(I am not sure at all but my current thought is that Rockhopper's 40% of the $1.5 billion ($600 million) needs to be raised. Minus the $337 million Premier development carry for Phase 1 makes it $263 million debt).

Wow. Was about to filter you but then saw your apology. That was a barrage of posts!

suresh786, FIG have had a recent consultation about oil taxation terms and may not have finalised them yet.

I still hope (and have suggested it to them) that FIG offers an upfront Royalty break. They could easily claw it all back later in the project and the reduced costs at the start may well be enough to get investors onboard and Rockhopper to production!

If Ombrina Mare arbitration brings in even a modest return then they are sitting pretty.

Rockhopper say in their results today that they are looking for :"value-accretive growth opportunities both in the Falklands and elsewhere."

Where in the Falklands I wonder? ARG or BOR?

To be fair the oil production has a limited lifespan so you can't really expect the same P/E ratio to that of other companies which could keep going.

I think you are right though that if all goes well £2 could be too cheap.