Member Info for Marunam2

AlfieM',

Look, what I posted was a fact from UOG, what you are posting about a fund raise is NOT factual , so don't compare the two.

Think you are more then overdoing your agenda.

Either you are in or out .

Progress news from the horses mouth :

https://x.com/UOGPLC/status/2026291379513475270

Piston coring progressing well, with 10 cores completed and Morant Basin now finished.

Operations now into the Walton Basin, with sampling underway near the Colibri, Streamertail & Oriole prospects.

Survey programme continuing as planned.

GLA,

With Trumpy on the warpath, geopolitical tensions are causing a spike in the oil price.

Should there be a war who knows how high the price will be , but it is a sure bet imo that it wont be resolved quickly and therefore all oil stock will re rate on the prolonged spike.

Who knows even virgin territory close to America will become very valuable.

Does anyone know who decides where to piston core ?

Is it the contracted lab analysis people and their team or is it someone at UOG ?

GLA

I can see a lot of movement in the next 3 weeks , this is a leaky ship imo.

Also , looking forward to the next podcast to see if it is going to provide detail of the coring locations based on the thermogenic and seabed survey.

A M/C of £3.62m !!.

Should the coring and seabed surveys are proven be positive the COS on a 406mmbbls Prospect is significantly increased and along with that sentiment .

I'm in for the sale of company, if survey is successful then it's going to be a multiple of the M/C right now .

For balance - it could go belly up .

GLA.

Well I can say that late buys at 16.98 showing as sells.

Break 18.3 and we should see 21.9 - 25.6 . Fingers crossed.

GLA

BB Hoppa,

Is it sunset where you are, lol ?

Has the agreement with the funder been made public for OM case at ICSID for the new appeal ? No.

How is appropriating oil from another country and paying yourself from sale of that oil , blowing up boats, Threatening an ally ( Greenland /Denmark ) an upending a rules based order, it's just plain dictatorial behaviour.

" 1) Play for time. The longer you drag this, the more time Donald has to establish the new order."

The New Order : America first , last and in-between, everyone else tow the line and "relax" or else !!.

"2) Be bold. The ICIDs of this world will either fall in line or cease to exist. By bringing an OIL-related claim in THIS environment, you have the upper hand. If you don't think so it's because you can't read geopolitics."

The complete opposite of what you think this would mean, If ICSID ceases to exist the claim is irrelevant, period.

"Add Italy (Meloni) in the mix. Unless the lefties come to power (extremely unlikely), how will Meloni look Trump in the face and say yeah scr*w ECT. She won't, if you have done the right PR by then."

The complete opposite of what you say above. Trump would be the first to advise Meloni NOT to pay , he would tell her to drag this out forever in the courts. Funny ,this is what they have done in the RKH claim so far, even "suddenly" finding a decades old case against an arbiter.

"Bottomline I believe Italy should offer to settle before RKH wins a second award with the new submission "

I used to think they would years ago , but the reality is they will never pay till dragged into courts to stop the appropriation of Italian assets .

I sincerely hope the Orange blob comes no where near the Falklands and it's people like he has with Greenland.

If the Argentinian's get into his ear, say they recommend the Nobel peace prize for him or call him the saviour of their economy , etc expect trouble with a capitol T.

BB Hoppa, no offence meant but could not disagree more.

GLA

BB Hoppa,

I think the ideal would be / will be, that more coverage starts happening because brokers want to recommend RKH to their clients.

If 2 or 3 brokers start, then FOMO kicks in , it's a compelling story .

Why wouldn't they ? risk is reduced significantly. FID is in ,Project Finance is in , Sanction is in, contracts signed for major hardware that will be required have been signed.

GLA

Have taken a punt here and added today.

From Google AI on Piston Coring .

Proving a Working Petroleum System: Piston coring allows for the recovery of seafloor sediment samples (piston cores) to identify the presence or traces of migrated hydrocarbons (oil seeps). Confirming the presence of these seeps directly demonstrates an active petroleum system offshore, which is a fundamental indicator for successful exploration.

De-risking Prospects: The data gathered from successful piston coring directly improves the geological chance of success (GCOS) of potential reservoirs. This reduction of technical risk is vital for attracting investment and securing partners for further, more expensive drilling operations.

Significant Value Uplift: A successful survey can lead to a substantial increase in the estimated net risked value of prospects. For example, one company's piston core survey increased the GCOS of a prospect from 19% to 32%, potentially adding tens of millions of dollars in value.

Cost-Effectiveness: Compared to full-scale drilling, piston coring is a relatively short, non-invasive, and simple operation. It is far more cost-effective to conduct thorough upfront investigations using piston coring than to face potential failures or overruns during later, more extensive development phases.

Geotechnical Information: Beyond hydrocarbon detection, the high-quality, undisturbed sediment samples obtained through piston coring provide crucial geotechnical information for engineers designing offshore infrastructure, such as pipelines and platforms.

Supporting Farm-out Efforts: The de-risking data generated from the survey is a key component in farm-out discussions, offering a clear pathway for potential partners to understand and participate in the exploration venture.

In essence, piston coring is a high-value piece of work because it provides foundational evidence of an active petroleum system, which materially improves the confidence in and financial valuation of future exploration and development.

Oil Seeps :

Walton-Morant Basin: The first offshore live oil seep was discovered in February 2017 by Tullow Oil during a drop core and seep study.

Satellite Evidence: Satellite imagery has also identified oil seep anomalies in the Walton Basin, correlating with seismic features that suggest active hydrocarbon migration.

IF, Larkin can get $25 - $35m for the whole license then it will be a great result for me.

The current political climate re Trump , Iran, Russia.

IMO, Energy security is the next big "catalyst" could that will set off an oil price resurgence.

Next few months could cause a perfect positive storm for UOG.

GLA.

Maybe ?

Navitas could simply be tieing up the license against any future claims of shared acreage following a discovery , also vice versa any discovery on PL001 would be part of Navitas.

I think the Zama field is an example of this, Premier ( Harbour ) and partners drilled Zama and an oil discovery was confirmed. Pemex ( Mexico's national oil company )has acreage adjoining the Zama discovery. Pemex claimed Zama crossed into their license and therefore they owned a part of it as well. This claim was made by PEMEX without drilling a well on their acreage to confirm if Zama did indeed cross over.

So Pemex made a massive gain for zero capex .

Better to tie up the area now for a relative pittance then pay a hefty price later on.

GLA

GLA,

I Agree Stevo12,

With that just 3 Israeli institutions that have taken up 75% of the placing shares. Not ideal going forward ,leaves RKH open to manipulation should the relationship go belly up and we have seen boards being pressured into deals .

Though, one thing I am confident of is these will be diamond hands, they will have over 2 decades plus of returns incoming for these investors.

In the great scheme of things, a $150m spent to control 25% of shares in play of a multi Billion project is cheap as chips. Also highly unlikely they will see dilution on their shares as funding is fully achieved.

Would not be surprised if RKH board were railroaded somewhat into the 53p placing price to guarantee that the funds were raised, felt very rushed at the end.

I suspect ( hope really ) that existing II shareholders would have taken the rest of the 25% placing allocation and allow Retail holders like us to benefit from the excess applications. Let see who has taken up the rest.

Having said all that ,kudos to the board, they have got FID and funding over the line and lets be honest made a pipe dream into reality.

2026 sp prediction - 1.14 at some stage.

GLA

getting to be the silly season i predited many months ago and saw in the previous cycle of rkh. just seems a lot lot meaner and less witty these days.

****** tropes, ****phobia , fascist rherotic etc seems ok to spout on here and to some its ok as long as it helps ones outlook.

lets all try to keep all of the vitriol to ourselves, what we say here negatively or positively is no longer as effective as when the share price was 6-9 pence.

the big boys are here and they will decide where and how they play, we are going to be played as they want, thats now the reality.

the other point to make is that most all posting here are or should be pretty darned well off compared to last december.

so lets share this forum to win together , because no institution will care if we do or dont.

gla

HL on the daily as good as set , If it closes above above 78.2 today that would be very positive imo.

Today is still a positive reaction right at the range and channel resistance.

GLA

Dana Petroleum.

Afternoon all.

IMO

Beautiful supporting touch of the bottom of the rising channel on daily and weekly.

90p -93p is a serious resistance level on the weekly chart , 2nd attempt at breaking it now.

Though it is down on significant volume , it has to hold here for me, if it does, a grind back to 85p possible , if not otherwise down to 63p which coincidently is where the 20% premium to the 53p placing price is, think this area will be heavily defended . .

Confirmed today , bearish Engulfing WEEKLY candle. On long timeframes it can do as it says on the tin or throw a nice dummy and with the channel and range support holding ,move it back up .

Next week is important re price action , we are I believe at resistance on the channel and 63-65p region for bottom of the range .

Till the finance closes anything is possible , certainly till middle of January would be my guess.

On the Plus side , new II'S , funds etc , can buy this dip and the II's holders here before FID can de risk at their leisure while we await financial close.

GLA

Unless I am missing something , WHY is this production update not announced on TASE or on the Navitas website. ???

Surely the game changer has come in for the next big thing.

50k - 58k bopd, @50kbopd production equals 18,250,000 bo per year(365).

e.g is for 345 days

Conservatively , Say @ $60 poo - $10 capex /boe. therefore, $50 poo nett x 50K bopd x 345 days ( 20 days contingency for Delays, Weather , downtime ) , rounded up upwards of $862,500,000 revenue gross. $862M gross

Which ever way you slice and dice these are huge numbers for a company from one Asset !!

TBH, this news was weighing on my mind, production start up and achieving flow rates that were anticipated don't always line up , this is a huge project and anything less then the anticipated production would have been a spanner in the works . E.G borrowing cost , terms etc.

Path clearer to financing.

GLA.

A major milestone for Navitas and therefore Sealion FID .

Https://www.beaconoffshore.com/media

Houston, TX, October 9, 2025. Beacon Offshore Energy LLC (“Beacon”) announced today that it has successfully completed the ramp-up of the four Phase 1 development wells in its operated Shenandoah field to its target rate of 100,000 bopd / 117,000 boepd. Well productivity as well as reliability and uptime metrics of the Shenandoah floating production system (“Shenandoah FPS”) have conformed to expectations and the ramp up to target rate was accomplished within 75 days following first production, evidencing the top tier operability of the Shenandoah FPS.

The Shenandoah reserves, located at reservoir depths of approximately 30,000 feet true vertical depth, are being developed utilizing industry leading high pressure 20,000 psi technology which Beacon expects to facilitate development of other similarly situated fields in the Inboard Wilcox trend.

The Shenandoah FPS located on Walker Ridge 52 approximately 150 miles off the coast of Louisiana in a water depth of approximately 5,800 feet has been placed into service with a nameplate capacity of 120,000 bopd and 140 mmcfd. The Shenandoah FPS has been designed as a regional host facility that will enable development of additional resources including the Beacon operated Monument and Shenandoah South discoveries which together with Shenandoah are expected to hold recoverable resources of nearly 600 MMBOE. Beacon is joined by HEQ Deepwater and Navitas Petroleum in the Shenandoah development.

Beacon said end of Q3 for production update to see if production had reached 80k-100k bopd at Shenandoah .

So hopefully some news next week to see if this has been achieved, if it has been achieved ,then it should be an added important pointer going forwards in to taking FID by end Q4.

Gormless Bunch , Trade : in today > 79-80p tp.

GLA

Had given up on this long time ago, re entered recently to double up or bust. Hopefully will do an RKH and rise from the dead.

Best outcome I can see would be to sell WM to the highest bidder(s) . Preferably bidders wanting 20% -25% for overall total of $30- $35m .

GLA