Member Info for Marunam2

Post-Hearing Briefs in ICSID Proceedings. The written process in ICSID cases usually consists of two rounds of submissions. ... One type of additional briefing that is often considered is the post-hearing brief. The parties may agree on or be invited by the Tribunal to file written post-hearing briefs after a hearing.

Hardly Sam delaying the proceedings.
Is he running the case as well Carrot ?

80 days or so in out of 120 days, a further 60 days allowed to reach a decision, this is the full time given BY RKH for the result.

Could happen anytime in the next 40 days.

NigelH,

No CEO in their right mind is going to stand up and say we are very confident of the EC outcome.
To sound and look confident as if it's a done deal is also very misleading.
The process has been ongoing for a long time , with guidence from ECA and a company that specialises in the application.
It may not happen or as I think it will. Once the application goes in the timeline is 8 weeks to 12 weeks. Thts end of September if they keep to Q2 deadline.
If not then there will be decimation of the SP here, if they do then like any loan , let alone a govenrment one with many departments it's going to be a tedious and painful wait.

By the time we know of the aplication result, we will have had OM arbitration , again who knows how the arbitration panel will vote.
This is as LTT said , as nervous as waitng on the 1st well and hopefully the same result, that came in and here we are .

Well result due next week , hopefully a decent result that will add to production . Even a 100bpd at $70 poo is very welcome.

Carroteater,
"Language not significant. I have been told pre AGM here over coffees that PIM submission could be end June early July, "
You were told this timeline by management ???

At current oil prices, Premier is forecasting full year net debt reduction at the upper end of the $250m to $350m guidance with a forecast year end 2019 covenant leverage ratio of less than 2.3x.

At current oil price, should we get tight supplies, Iran, Nigeria, Libya , Attacks on Saudi infrastructure etc then POO should spike up to over the current price and every $ increase in poo is worth millions.
point being that PMO debt levels would reduce faster and come closer to other of like size in the sector.

EC formal application to be made by Q2, today PMO confirmed they are nearing completion of all aspects of the application.

How on earth can you expect a CEO to say we will get it , he would be in jail if he did.
This is a multi bagger because we are betting it will, so hedge your bets , a result will happen by year end , early next year if it drags , though why should it ?

Well result due according to those who attended. Bahariya formation could prove to be very fruitful and the asset value will increase . Considering what we paid Beach energy for the asset , this is a cracking asset which is saving RKH skin at the moment.

Lets stick to chat about the stock please , it was refreshing yesterday and informative.

Superritch,
Perhaps a poor choice of phrase from me, my intention is not to demean the sacrifice, quite the opposite. My family has lost a loved one during the Irish problems while serving in NI.

I was merely trying to point out that political fallout can go both ways on a decision to act.

Again my apologies for the reference not well put.

Ovets,

It would be highly unlikely for EC to be refused , it would have been made clear if not a long time ago , but even now, before the formal application.
There will also be a political fallout for refusing the application , the Falklands war and those who died in that war to preserve the islands independence will have died for nothing.
There will be no political gain to refuse and a lot of financial gain to do so .

In Q2 if there is no formal application with a justifiable explanation ,then we are in trouble.

We will know within 45 days or so .
The sp going up and down at the moment is of no concern to me as its either going to happen or not.
Though I must say have a decent average to play the moves, others may not and hence the frustration and anxiety on this board.
Thank you to all those reporting back, show a variance in opinion and the way they are percieved.

Agree FECM they did , Q2, I believe they will.

TD also said that the EC application will come as no surprise to the agency.

We have a well result overdue now, did anyone ask about that ?

Carroteater,
If thats what was said then that seems to me the timescale already in place.
5 months from EC application.
They have been negotiating the application for nearly 2 years with ECA.

NO surprises therefore should be there in the application.

This is going to go up and down , and not related to POO, trade it if you can and hopefully as private investors we gain.
Lets not trade insults , lets trade knowledge of the investment, be it industry knowledge, finance, legal or even political.

Our shares are not going to change the sp once it gains milestones , BUT we can invest ahead of the II's as we can make a more learned opinion faster.
I wish all well on this investments, short or long.

Nigel haemaglobin, ,
"Maranum what GB government? Is it the current one run by Mrs slightly hypoglycaemic, the future one lead by Mr beardy McTerrorist or the new English parliament trying to work out wtf to do now Scotland has gone and Ireland reunified? Two inevitable consequences of Brexit.2
Within this Q4 for arguments sake, there will be an application ,no chanege of government is going to take place by then .

Are we to believe that this country stop working while Brexit or other events happen around the world.
What makes you KNOW that a any party will stop these developments, there is no final answer till the final answer.

We are at a m/c of £100m with a fuly appraised field and further discoveries, look around and tell me one other company of this size in this position , DEBT FREE. .
This is a once in a lifetime investment , soon as EC application is made I will invest all thati have , in 3 / 4 years I will retire if finance is in place this year , I believe it will be .
Thank you Carrothead, Ralphy etc for shorting this to 23p !!!, cheers.

TD stated, Formal application to be in this month , what more can he say about that.

Also stated not just phase one but phase two as well very important.
Also stated they have had good support from FIG and the GB government, some on here stating otherwise.

Also stated that he's very comfortable with the progress, while also pointing out the reason for not going ahead earlier, low POO and their debt, quite understandable.
He was "Asked" if by the turn of the year FID could be made , he is not going to say by September or October is
he ??
They have been in funding discussions all this time and there should be no surprises to either ECA or Project finance banks that require a back and forth. This is only a matter of approval, which is the result that we have to wait on.

As stated by TD and I agree with him looking at their production, by the end of the year PMO debt will be in the mid tier of like companies, the company has come from the brink of going out of business to where they are now .

Zama resources could be upgraded from the current 200mbo , imo this again would allow them to farm down, sell or develop the asset , all options open.

Cost optimisation in a major project is always on going, he did not state which area they were looking at, with vendor finance complete it would unlikely be that.
It could be sourcing hardware, pipelines , land acquisition for support structures, more personnel required etc.

That's the most positive interview re sealion so far, finance application this month and FID by start of next year, though he was asked if it would be start of next year.

EC application any day this month.

I would not be surprised if RHK do a small offering to tide them over if OM does not come through.

RKH Well result due next week as well.
Re the board, I belive that once it's sanctioned , Sam Moody will depart or move to Chairman, that is when RKH will hire an experienced oilman with experience in delivering projects as CEO.

4 planned !!, where would they get that from , the SPSO vendor currently signed up ?

Would need phase 1 up and running within 3 years would it not ?

Formal EC application would be a start, next week imo .

Q, What does management attirbute as the dollar value the oil in ground per barrel of the bookable reserves upon completion of the funding ?

Would like to know as it would help me understand the valuation of the company in the event of a buyout offer.

"The 20 inch conductor has been set in place at the Al Jahraa-11 location and the rig has been mobilised to site. Spud is anticipated towards the end of February for this first well of the 2019 drilling campaign. The well is expected to take approximately 54 days to complete and is targeting the AR-C and the Bahariya reservoirs. "

The Bahariya reservoir could become very material if the flow rates are good.

The result must be due any day, hopefully they have been testing.

Well Zama, is a monster .
A very good appraisal , DST.
They expect production of 150kbopd - 175kbopd, 25% to Premier.
Operator expects to drill Zama 3 next.

Premier have now just got a massive asset , they could sell on or keep as FEED and FID would take around 2 years.
This is very good news for Sealion as Premier have a very valuable asset for backup to nullify any worries from their primary lenders.
Sealion will have been sanctioned by the end of this year.

STRONG BUY

What would ECA application mean to RKH ?. Ralph, Carroteater, Ollesky and now Tuggy , what's your reasoning ?

For PMO - In 6 months time Zama will have had 3 appraisial wells, a DST, and coring completed, there debt reduction continues at $20 pbo free cash At pooat £70 . So PMO should be investment grade by end of the year.

ECA formal application changes the game, within Q2 , end of April IMO.

License renewal is not required for a year, by which time ECA application approval ( very likely ) or non approval ( very unlikely ) will have an answer.

Strong Buy

Shorters coming up with lamer and lamer negatives.

Interesting that some days not one of them is around.

The doubters all in the same meeting it seems, lol, took some more below 26p a bargain.
Right off to play golf , Woodcote GC, lovely.

There is no takeover of RKH by PMO, no way.

Unless its for a shed load of money , which we know PMO will not part wit has they are now on a way to a death to life recovery.
PMO managemnt is good IMO, learn from painful mistakes of previous managemnt and very low POO for the last year or two.