Member Info for markednmbr1

Thanks LTT - Have requested.

Haven't done anything yet myself. Has anyone got shareholding confirmation from HSBC got any hints on how to get it? Mine's in an InvestDirect ISA with them.

It is crazy, I have not seen it this low either, and I've been watching rkh since 2008.

I'm just holding on to the fact that it means there is very little appetite to sell at these prices.

Less than 20k volume in almost 2 hours. Wow.

At least it shows that nobody is interested in selling up at these prices!

Volume is higher than usual, almost 2 x higher than yesterday. Nothing to indicate a leak of course but it is higher than normal.

Volume increased quite a bit this morning and accordingly we are up over 7% so far.

Must......Stop.....Self......From......Getting....Excited...........

lsetown - no, I believe it is a fixed % dependant on the award. So RKH lawyers on a no-win no-fee want this done and dusted as soon as possible.

Italy on the other hand, will happily drag it out as long as possible so they don't have to pay up.

I too can't understand why this is taking so long. COVID clearly has impacted it, but surely this is something that can be done "WFH".

Italy mustn't be completely worried about it, otherwise they would have attempted a settlement. This is a repost of the earlier article, but it still reads to me like they are trying to make "a point" that it would be a dangerous precedent.

What they are failing to understand is you can't just pull the rug out from under a company that has spent millions of dollars on a project that you (as a country) have legally licensed for.

At BARE minimum they should have immediately paid back all spent monies when they rescinded the project. Maybe if they did that they wouldn't be liable for lost profits too.

Giacomo Aiello - Italy only has itself to blame for the situation it finds itself in.

It's pretty clear we are in a holding pattern now until news comes along. I think it's positive that we aren't dipping though, we usually go back to 6p after going to 10p, so it seems people are holding on for news and not selling out that gain.

It is a very wide spread though, and has been like that for a while as you say fecm. I think it it does again indicate that they aren't really finding any sellers.

10:11:23 9.90 270,000 26.73k O

Don't forget the cut that the lawyers would take from that $275 - which is actually the main point of that article, they think the process is being exploited by lawyers.

Well Italy - How about you don't go back on existing agreements that you have made with companies.... Ever thought about that? You reap what you sow...

This should easily go 3-4x on a big outcome in our favour. Fingers crossed that day comes sometime soon!!

Just to clarify - when I said sell side, I was referring to the ask side - IE they don't have the shares to sell for pre2rcds buy, so they are holding on completing trades until they can find the liquidity to put the trade through at the price he bought for.

It shouldn't take that long to complete a trade unless it was a limit buy. If the shares were there for sale then it should complete pretty much straight away.

Something is definitely not right.

Urgh not this again.... It's all just trades. Whether it is a buy or a sell is only whether it was on the ask or the bid. There is a sell for every buy and vice/versa. In pre2rcd's example it would show as a buy as it was above the ask.

pre2rcd - Is there liquidity problems on the sell side do you think? It shouldn't take an hour and a half to fill a buy order.

They aren't single trades, they will be split trades.

So someone places an order for 10,000 shares for instance, but it comes from multiple different sellers, hence you see these silly small amounts.

It's still 1 trade, so only 1 fee.

I have been in this share on/off for over 12 years now. The main problem with RKH has always been that it is a retail buyer share - Back in the days of the move towards £5.40 it was all the hype, all over the news, during an oil price spike. Nobody cares about oil anymore, in fact it's the opposite.

Ever since those days, We have been plagued by shorts. They saw we were too high for such an early stage in the exploration to production cycle, which was probably correct. Then of course the oil price declined and we ended up with PMO as a partner (which if you look at the details at the time, it was an OK deal ) in a declining oil price environment.

As an extra kick in the pants, our BOD decided it would be a good idea to buy MOG which was potentially the worst mistake they could have ever made (withstanding the outstanding arbitration outcome). They also farmed in to the Egyptian Assets that were pretty useless, as the Egyptians aren't too worried about making sure they pay their bills on time (surprise?) . RKH ended up selling the Egypt assets for a bit more than bought and called it a success because they got shares in a new company (that were pretty immediately sold after the next positive result). Without much realisation about all the costs already spent.

There was also the announcement that actually, PMO can't meet the deal that RKH signed up to. How that is even possible without RKH suing PMO in to the ground and getting the agreed percentage stakes back is beyond me, but our BOD bent over and just accepted that they didn't need to meet the original agreement !?!? How this happened still puzzles me, as any competent board would have challenged this much more aggressively.

Now we have Harbour taking over PMO (Good f** riddance) so maybe there is a chance, but they are coy with us so far. I personally don't think the Navitas deal will actually take place anymore, as soon as Harbour is officially on board. That deal was a joke and took even more from RKH because PMO was useless. It was essentially RKH giving even more % away, after being screwed by PMO already because they were incompetent as there was no other option.

In my view (If we don't just get taken out completely on the cheap) Harbour will drop Navitas and reclaim their original percentage of SL, then they will hold RKH over a barrel and try to punish the BOD because they know they are weak, and because they know they are running out of cash.

I wouldn't be surprised to see RKH ending up with a 10-20% full carry of SL, with Harbour owning 80-90%.

That being said, Even 10% of a 80kbpd asset is many multiples of todays share price.

The OM arbitration is the only thing that can change this dynamic, but it may come too late as we everyone knows how good lawyers and bureaucrats are at stalling.

For full disclosure, I am in RKH heavily at an average ~14p for ~450k shares. I want this company to succeed as much as any other long term holder.

Also Neilius, We have not won yet - the "Award" is the decision, not the amount we will get - RKH explained this in the last RNS.

"Under the rules of the arbitration process, a decision (referred to as an "award") is due within 120 days (extendable, at the discretion of the Tribunal, by a further 60 days if required) of the closure of the proceedings."

Also this is very important:

"Deliberations have continued and work on the award is advancing. The Tribunal will revert to the Parties in the early part of 2021 with any final questions it might have or, if none, the declaration of the closure of the proceedings as per ICSID Arbitration Rule 38(1).""

Which says that they haven't even declared the closure of proceedings yet, and it could be a further 180 days after the closure that the "Award" is given (decision).

I would hope that Italy have a sense they have lost, and will come to an arrangement with RKH on a pay-out sooner, for fear of having to pay the top end of your estimate.

I hope it all works out asap but I fear we may have some time still to go on this.... We could have FID before OM if the oilprice goes in the right direction imo.

I wonder if this has any significance - Just additional interest maybe? I do note that they seem to be offering the lowest buy price of all the MM's....

There is a new MM showing on the books - MREX... haven't seen them on RKH before.... anyone have any idea?

Anyone else think all of the people in this thread are ralph?