Member Info for Mogger

EG,

I don't know, but I think you are correct with getting things on the agenda by a certain date.

Mogger

All,

Another busy month coming up for the EXCO.

It's obviously all a waste of time as there's no oil and even if there was, no plan to get the stuff out of the ground.

I wonder who the "taxpayer" is that is mentioned?

https://assembly.gov.fk/jdownloads/Executive%20Council/Executive%20Council%20Forward%20Plans/2025%20Forward%20Plans/06%20EXCO%20Forward%20Plan%20June%202025.pdf

Mogger

All,

Another busy month coming up for the EXCO.

It's obviously all a was

▪ Continuing to advance the agreements necessary for the development of the project with the main suppliers - in this context, a memorandum of understanding was signed for a lease agreement with the owner of the floating production and storage facility (FPSO), which is currently operating in the North Sea and is intended to be used in the project, and an agreement was signed with the FPSO owner to carry out design and engineering work (FEED) (to upgrade and adapt the FPSO to the needs of the project), and agreements were also signed with suppliers for the production of subsea equipment and subsea piping to connect the FPSO to the production infrastructure.

▪ In accordance with the agreements being finalized with the main suppliers, the estimated construction costs (Capex) (including

100%) of Phase A of the project currently amount to approximately $1.4 billion until the start of production from the project, which is expected during the first quarter of 2028, with the Final Investment Decision (FID) (expected during the second half of 2025

).Formulation of a project financing plan for the development of the project - The partnership has appointed a foreign bank, which will lead the project financing and syndication outline (similar to that of Shenandoah), by providing two identical and parallel private non-recourse loans to the project partners. The scope of the project financing (senior debt) is expected to amount to approximately $1 billion.

▪ The partnership is also exploring various options for financing the equity component required for the development of Phase A of the project, including examining the possibility of obtaining a bridge loan until the refinancing of Shenandoah's project financing.

▪ Continuing to explore the possibility of bringing in an additional partner to the project.

Mogger

All,

The Partnership continues to advance the development of the Sea Lion Project (hereinafter in this section: "the Project") in the regulatory, engineering, commercial and financial aspects,

Receiving regulatory approvals from the Falkland Government - In-principle approval was received from the Falkland Government for the Detailed Development Plan (Field Development Plan). Final approval of the Detailed Development Plan is expected to be received concurrently with the receipt of the Final Investment Decision (FID). In addition, a public hearing process was held regarding the possible future environmental implications as a result of the development of the project - EIS (Environmental Impact Statement). The Falkland Government accepted the results of the hearing process and the comments of the Partnership (as the project operator) and informed that this process was carried out in accordance with the relevant regulation and that no further public process would be required in this context. The Partnership submitted the final EIS document to the Falkland Government after implementing and assimilating the comments received in the public process.

In addition, the partnership is currently promoting, with the Falkland government, a comprehensive arrangement on regulatory issues, including taxation, fiscal stability, transfer pricing, and more.

All,

Navitas Q1 results to be published on Wednesday.

https://maya.tase.co.il/he/reports/companies/1666654

Mogger

All,

FEED completed. On time and on budget

https://www.linkedin.com/posts/aragon2006_a-keymilestone-achieved-aragon-a-activity-7329073206345052161-g2Dj?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAB-3IcBBhs8OSOnZaarrB-oQtWKJXTxoSo

Mogger

LTT,

As per Paul's comment. I think it's just a slight change from " are negotiating" to " have agreed" a new contract

Mogger

All,

https://www.upstreamonline.com/rigs-and-vessels/uk-north-sea-fpso-owner-agrees-terms-for-contract-extension/2-1-1822578

Mogger

Rookie,Paul

Some quotes for you

" so if naught is hello we'd like you know(sic) nice to meet you and ten is we know enough to make a proposal to you we

think there's companies that are very nearly at 10 " Harry Baker interview with Zak Mir Feb 21st 2025

https://www.youtube.com/watch?v=MhxazO6Q_Bk

"the Group's financial advisor is currently seeking potential farm-out partners. Discussions are ongoing but not yet at an advanced stage." Final results 19th May 2025

https://www.lse.co.uk/rns/BOR/final-results-7un1ce2ymr7lzvm.html

Who is telling the truth here?

Mogger

Rookie,

Have a look at the share holding of the two mentioned in the RNS this time last year compared with now. There is no way they bought their increase on the open market. It's over 50 million shares.

Mogger

Phil, Rookie

"Broker Warrants

In connection with the Fundraising, the Company has granted 1,326,666 broker warrants to SP Angel Corporate Finance LLP, exercisable at the Issue Price for a period of three years."

https://www.lse.co.uk/rns/BOR/16315-million-fundraising-e8q0olokxdul1pi.html

Mogger

Buffit,

Warrants have been issued as payment for services received by the company because they couldn't pay the bills at the time.

Mogger

Buffit,

You only exercise warrants early if you want to sell them.

Mogger

All,

Where did these additional shares come from? Certainly wasn't the open market. Is there some consolation going on?

Mogger

All,

Interesting to see that a question has been asked so recently

https://questions-statements.parliament.uk/written-questions/detail/2025-04-17/46117

Mogger

Marked,

As Alma has previously described, Navitas is a partnership. The Parnership Agreement is similar to a Uk company's Articles of Association

Mogger

All,

I see Navitas are up today after their special meeting of yesterday. There were three points on the agenda but the first could be of interest.

"To approve that the Partnership shall be entitled to undertake additional oil and gas projects not specifically defined in the Partnership Agreement, subject to the approval of the Audit Committee and the Board of Directors of the General Partner with respect to each project, for a period of three years from the date of expiration of the current approval, i.e. until May 15, 2028, as detailed in Section 2.1 of the Summons Report."

Votes in favour 100%

https://maya.tase.co.il/he/reports/companies/1662616

Mogger

Bloo,

https://en.wikipedia.org/wiki/The_Line,_Saudi_Arabia

Mogger

All,

May is going to be a very busy month for EXCO.

https://assembly.gov.fk/jdownloads/Executive%20Council/Executive%20Council%20Forward%20Plans/2025%20Forward%20Plans/05%20EXCO%20Forward%20Plan%20May%202025.pdf

Mogger