Member Info for Marunam2

Much ' : MC is $483.91m has a SP of 75p today.

$1B MC would therefore give a SP of ????

Got to bear in mind that the lead bank and the syndicate funding Sealion would require Navitas and RKH have the funds ready for FID.

RKh has done that today and Navitas don't have issues with funding.

The 5% extra contingencies is in a normal range , also FIG protecting the Island with the requirement for Decomm' costs upfront ,also covered by the raise.

Funding to tide over RKH till 1st oil.

So as far as Sam and the board are concerned the raise is clean and quick.

It wouldn't surprise me if the board offered retail a larger placing nearer the time.

DD&&,

I don't see warrants at 80p putting a cap on the sp , in fact you need only look at the previous placing and warrants at 8p to 65p today.

MM's and II's fishing for weak holders not realising that provisional funding is in place subject to FID.

Why would $100m funding be offered if the II's investors thought 53P was a bad deal.

Not ideal for retail holders for sure, I suspect things are moving quickly now, lead bank may have given the nod and the contingencies set to get to the funding required.

I feel the end game , FID, got nearer today.

GLA

Saiyoung,

My understanding is that retail shareholders (US) will be offered a placing near the time of admission of the main placing .

Members of the public are not going to be offered warrants but can take part in the placing at 53p .

What a mouthful that rns is .

Retail holders holding strong so far . ..

Never say never, OM has been a nightmare tbh.

If, Italy see the annulment as win , they would be taking a major risk that a new filing and subsequently a new award would be even higher.

A negotiated offer of say 60m -100m euro's would be significantly lower then the previous one dished out by the arbiters.

I am assuming the claim reverts fully back to RKH with no strings attached to the arbitration funder.

If the assumption is correct and Italy do make an offer, RKH would be in a position to play both sides to get the best deal .

Personally, I would prefer that RKH sell the claim in full to the highest bidder. They would need to be the ones to file the claim again as they are the claimant, but thereafter they are rid of the issue ..

Will Italy take the chance that RKH sell the claim to the Funder, who will definitely want the full award paid, 300m euros and counting at this rate.

IMO RKH in the best position in this instance out of Italy and the Arbitration Funder.

Volatile start today !!, slight pull back at some point needed.

One factor to remember is that the Shenandoah build FPS was significantly delayed by a fatal incident at the ship yard.

With Sealion , the FPSO need rejigging to come to the spec required, but that should be done in a timely manner.

Rig contract and drilling programme start will also determine timescales.

Also, Infrastructure in FI needs to be done by the time the rig gets there imo.

As a layman to the oil industry it really does open my eyes as to how complex , technical and detailed FEED needs to be in a virgin territory.

Have total respect for the work team(s) carrying this task out .

Just some musing here , Assuming FID is taken sometime in 2025 as per Navitas presentation, how many and what type institutional investors would invest in RKH ?

Once FID is taken , what criteria would they use to invest in RKH ?

To much work and money has gone into Sealion to date , FID would commit more money and more importantly FID would be on the back of acquired finance.

To see further significant gains , some or all of the above making an entry into RKH at FID would surely underpin the SP long term .

The question is will they ? and if so , in what numbers .

Worth reading and recent as well.

https://www.downing.co.uk/insights/pension-companies-unite-a-catalyst-to-reignite-the-aim-market

GLA

Agree Rolf, hence the last last last ever buy, till the next one .

Couls / Should break through the channel top and into and above 70p hopefully....

Becoming harder to convince the family that my last lot of buys was not the last lot , this one today is . .......

Any tips ??, lol

GLA

100k production a day within this Q. !!!.

Flow rates must be at the top end of expectations .

Correction ,

Re Shenendoah Production , as per Navitas website, they expect production to be in the 80k range .

More likely Shenandoah production will be, if all goes very well, 90k-95k bopd.

The 120k bopd is Shenandoah and Monument together.

O/T.

Trade closed.

Wait and see next week, when i'm back to work.

Without the 1st tranche payment, there would have been no extra funds in the coffers and therefore a bigger raise required.

With the insurance , roughly 30% of the $90m quoted as rkh's share of pre fid would be received, otherwise rkh are looking to raise the full amount .

How is that a sideshow ??

RKH imo need the insurance pay out as it will help with negotiating the least dilution to us the shareholders.

I get the feeling II's shares changing hands and someone building their holding, thoughts ??

Looks like standard practice most everywhere in the world. In the great scheme of things the cost are minimal compared to the returns.

Why would the islanders and FIG not follow practice and take care of their environment , they live there.

Well done Paul , Achieved what Godders and Grumpy could not with one post , lol.

Thanks all for the info.

If II's are looking to enter then FID sanction would be an ideal time. Agree with the Norseman, as FID would be a significant event for Sealion and a guarantee the project proceeds that is a premium cost entry in my book.

Can see retail (us ) would pile in on FID sanction bearing in mind Navitas increased 5 fold in run up to Shenandoah 1st oil and should spike again on 1st oil confirmation.

O/T

The Gormless Bunch!!

1st dca bought at 46.00, will hold for rise into 1st oil at Shenandoah.

We are on support on the channel imo, if it holds , should reverse on 1st oil news, stop loss in place.

The trade not showing, currently.

NFA .

GLA

Q for AGM : Does the board have a plan in place to :

1, To fight of a low ball takeover offer.

2, If so, do they know the value of the company at which they might consider an acceptable offer.

3, Company has said they not would consider reducing their 35% interest in the partnership, would they consider an offer do so if a new partner came with an offer.

3, Also, should fid go ahead , are there plans for marketing to attract new II' investors, a USA listing or any plans to generate new interest.

4, Re the tax liability , how far along is the revised deed of settlement ?

Grateful in advance to all attending and reporting.

GLA