Member Info for lsetown

I read on the earlier Alaska deal documents that Great Bear have back-in rights should they wish to exercise them.

Red Emperor state in some of these that they have 31.5% but 28% after back-in rights.

Does anyone know if that would still be the case?

Thanks JofHoggit. No, I'm thinking of a longer line less interpreted larger East and West.

Thanks Fubaratbirth. I didn't know that one but it doesn't have the line I'm thinking about.

It is a long seismic line without any major interpretation - just the well positions for Horseshoe and Winx and significant distance either side of them.

I think someone on here recently posted a link that showed a long seismic line that stretched from West of Horseshoe to far East of Winx. It doesn't appear to be in any of the RMP presentations.

Anyone know where I can download it? Cheers.

A straight conversion from 3.58p is AUS$ 0.067

Here's another Buffett quote to hopefully cheer us up:

"The Stock Market is designed to transfer money from the Active to the Patient."

We are definitely Patient on here!

Thanks Nigoil. Yes, I think it is a skill to be able to read through the dross posts and workout how to ignore the ramp/deramp posts on here. There are always some 'diamonds in the dust' posts though so it's always worth the time.

I agree that there are too many people with ulterior motives on here and Friday saw many people lose out because of them. Not good at all!

Spreadbetting too is a downfall of many and the spreadbet companies delight in 'closing out' clients to make themselves fat profits.

Nigoil - am pleased that I looked at your posts last week about those three Panr,88E and RMP. Cheers.

I bought a few of RMP on Friday and a few more today. Fingers crossed it will be an interesting side-line while we wait for action here!

Yes Nigoil, I just keep thinking that this share is far too cheap.

Buffett: "When it rains gold, put out the bucket, not the thimble."

AIMHO

But PMO have a lot of debt and quite a lot of assets.

Now you are talking Giblets!

The US companies aren't so afraid of any political issue around the Falklands. Apollo have a lot of money and that is all Premier needs to really get going.

Buy more Rockhopper is the question!?

Yes, I agree. Even if Premier effectively share their tax credits with Apollo it should hopefully bring in more cash for them and make Sea Lion more probable.

I know, didn't Premier move half the carry to Phase 2 in the last change?

It's funding change that worries me - significant dilution or equity loss would really undermine this share.

Any more changes and I think it would be a fair question to ask what Rockhopper really got for their 60% sale.

Robpug_uk, as far as I understand it Rockhopper are fully funded to stage 1. From p16 of the recent presentation:

"Sea Lion funding package progressing with ECAs, project finance
lenders and contractors
• Sea Lion Phase 1 development fully funded post project sanction
• $337 million Development Carry and $750 million Standby Loan
from Premier

Additional $337 million Development Carry for Sea Lion Phase 2 .."

https://rockhopperexploration.co.uk/wp-content/uploads/2018/09/Investor-Pres-18-Sept-2018.pdf

Do you think this will change?

I'm no expert but I also think that by contravening the ECT, the Italian government removed the ability of MOG making profit from the barrels. They may have an $8 in the ground value. but MOG was planning to actually produce these barrels with the significant uplift in profits that would have brought.

Yes, I suppose you are right that the per barrel cost includes the exploration.

But your figures apply a 50% reduction and tax to something that was a fixed cost to MOG. I think it would make more sense for the exploration costs to be ring-fenced somehow.

Rockhopper did say that they are claiming 'several hundred million Euros' which would imply more than your figures.

I guess we won't know until we find out!

Quite plausible figures.

There is also the $50 million that was spent drilling the well etc.

I can imagine something north of $100 million net to Rockhopper.

The 'What will the share price be on Friday' threads seem to be popular.

So I thought to start a new thread on here: 'What will the Ombrina Mare arbitration award to Rockhopper be in US$ ?'

My guess is:

$124 million

Anyone else?

(Guesses please for the arbitration panel award but not for any actual payment.)

That was probably someone not reading the price when trading on the NEX exchange. It doesn't take much to move the price especially when supply is tight.

Thanks for that Rpoodle.

It makes complete sense to me for Premier to hold on for a bit longer for FID/Sanction decision later this year. They will have paid down some more costly debt, seen how the oil price has done and may then be selling Zama for a nice chunk.

Less debt will give Premier Oil more confidence.