Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Paul,
There is nothing in the public domain regarding when the hearing is due to take place. Neither Charles Poncet or Pierre Dupuy appear to have any ICSID cases at present so their diaries could be empty. Whether they are working on other cases, however, is anyone's guess.
The Italian press will be keen to report on the outcome so that is probably where we will see the news first.
Mogger
http://dl.magazinedl.com/magazinedl/The%20Economist%20USA/2020/The%20Economist%20USA%20-%20April%2018,%202020(magazinedl.com).pdf
Mogger
All,
Just in case you think you want to read the whole article.
http://dl.magazinedl.com/magazinedl/The%20Economist%20USA/2020/The%20Economist%20USA%20-%20April%2018,%202020(magazinedl.com).pdf
Mogger
Lsetown,
Yes it is.
A little history of the case..
In 2007 Medoil submits search request to hydrocarbons in the Basilicata region
In 2009 the Region provides the first document. Or rather: with a resolution, it considers that the environmental impact assessment was not necessary for the research project, as it was only a matter of acquiring and processing seismic data already available. Basically, there were no exploratory wells, drilling or boring.
The Region therefore adopted a non-EIA provision for three years. The time it would have taken to for the region to sign the VIA (the memorandum of understanding for the issue of the research permit.)
The three years pass and we arrive at 2012: the agreement is not yet ready, and the VIA exclusion measure is about to expire.
At that point, Medoil requests the extension of the VIA exclusion measure, since the delay did not depend on the company but on the Region.
But in December 2016 the region denies the agreement for the Masseria La Rocca research permit.
So Medoil resorts to the Tar.
Two years later, in May 2018, the Tar, accepted the appeal of Rockhopper, holder of the permit, and annulled the provision of the Regional Council, referring the decision on the agreement to the Presidency of the Council of Ministers (so-called substitute power with simplified procedure).
Then the Region appeals to the Council of State. It also loses this appeal. And then to the Constitutional Court, and this too last in 2018 gives reason to Rockhopper. Writing in the ruling that “The groundlessness of the action promoted by the Basilicata Region, based on purely instrumental and delaying purposes, would be confirmed, confirmed by the fact that it challenged the same judgment before the Joint Sections of the Court of Cassation, deducing the same jurisdiction grounds. "
So after 12 years of administrative delays, changes in political decisions, appeals on appeals, that finally the research could begin to check whether there is Masseria La Rocca of oil.
But the issue went to the Council of Ministers within the 5 Star Movement, now in government which in December 2018 denied the permit. Italy’s Deputy Prime Minister Luigi Di Maio said on the government had turned down a request for permits to explore the Masseria La Rocca hydrocarbon field in southern Italy - announced on Facebook!
Rockhopper appealed this other decision before the Lazio Tar and last month won again – with all parties paying Rockhopper’s costs.
Mogger
Another victory in the Italian Courts.
https://sentenze.laleggepertutti.it/sentenza/cassazione-civile-n-7456-del-19-03-2020
Mogger
Surfit,
Moody is no worse or better than many in charge of AIM companies.
Rockhopper has had its fair share of bad luck over the years ( earthquakes/3 elections/brexit/ covid) that nobody could have predicted. but I agree that money has been wasted over the years of course. However, we are still moving in the right direction. For most of the companies involved, Sea Lion is the most important development for the next 10 years. They all want it to succeed. Look at Dril-Quips last update for example.
I asked the same question some months ago........
"can anyone show me a company that has found and then developed a 1 billlion Boe virgin territory oil province in less time than RKH/PMO are doing?"
No one yet has given me a decent answer which suggests to me that it is peoples' expectations that need correcting.
As to this band of "disgruntled investors " here that continually complain about the management board; there is only one way to get your voice heard that could potentially then result in action. Vote at the AGM. Complaining on a faceless bulletin board is pointless.
The problem is that these "investors" that say they hold millions of shares either don't vote or conveniently forget their voting slips on the day of the AGM. All rather suspicious to me!
Here is last years voting results. Only 874k votes against Moody! It will be interesting to see the voting this year
https://rockhopperexploration.co.uk/2019/05/corporate-update-2-8/
Mogger
A good précis of how Rockroses's partners view how good the company's finances are looking.
The judge agreed
https://hpruk.com/rockrose-energy-loses-north-sea-assets-to-taqa-after-partners-raise-serious-concerns-in-court/
Mogger
What a waste of time. Don't know why they bother. Pointless. Misleading
https://ats-fig.jgp.co.uk/vacancies/view/124142?ga_client_id=a295ed0a-0840-26d7-cbfc-401a03bccca6
https://ats-fig.jgp.co.uk/vacancies/view/124122?ga_client_id=a295ed0a-0840-26d7-cbfc-401a03bccca6
Mogger
All,
FIG don't seem to be that worried
https://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/422-02-26-february-2020/2631-31-20p-establishment-of-environment-department-and-head-of-environment-position
https://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/422-02-26-february-2020/2630-22-20p-sea-lion-fig-capacity-commercial-accountant
Mogger
https://www.premier-oil.com/sites/default/files/presentation/2019-Annual%20Results-Presentation.pdf
Mogger