Member Info for Mogger

Paperio,

Which email address did you use to contact Sam?

Mogger

Cyan,

This will be my last message on the subject as you are not reading what I am writing. You are prejudiced by your opinions instead of looking at the facts
There are no arbitration proceedings at the moment as the 24 months from Feb 2019 have not concluded. As I stated

If you had read the translation correctly you would have read that "This dispute is part of the dispute initiated by the company Medoilgas Italia (today Rockhopper Italia spa) to obtain, together with another oil company united in a joint venture, the permit to search for liquid and gaseous hydrocarbons in an area"
It is a case brought by Rockhopper and therefore not about local authorities "rehashing" anything. Its about due process. Rockhopper is seeking due process. If it fails to do so in the Italian courts then it may look at the ECT.

Finally, you failed to read Article 13 regarding the "Valuation Date". The world was a different place in Febuary 2019 than in March. Especially as Shenandoah was bought as bankrupt stock from the creditors of Cobalt.

Mogger

Cyan,

Article 13 of the ECT should answer your question

"Such compensation shall amount to the fair market value of the Investment expropriated at the time immediately before the Expropriation or impending Expropriation became known in such a way as to affect the value of the Investment (hereinafter referred to as the “Valuation Date”)."

https://www.energychartertreaty.org/provisions/part-iii-investment-promotion-and-protection/article-13-expropriation

In Febuary 2019 Italian Decree No. 135/2018 and subsequently Law No. 12/2019 imposed a moratorium on both onshore and offshore oil and gas exploration. It will last for 24 months whilst the Italian government creates a environmental, social and economic sustainability in energy exploitation in the country. If the government fails to create such plan, then the licenses will be reinstated. If the licenses do not come back to Rockhopper then....

Article 13 of the ECT prohibits Italy from subjecting investments made by foreign investors to nationalisation, expropriation or measures that have an equivalent effect unless such measures are imposed for a purpose which is in the public interest, in a non-discriminatory manner, and under due process of law.

Any expropriation must also be accompanied by the payment of compensation. The ECT requires the payment of 'prompt, adequate and effective compensation' at fair market value.

You will see the law says fair market value not your opinion of exploration COS

Mogger

Paul,

Just seen your last message

The Monte Grosso prospect is going the same way as Ombrina Mare. As previously mentioned, the Italian courts have decided in Rockhopper's favour earlier in the year

https://sentenze.laleggepertutti.it/sentenza/cassazione-civile-n-7456-del-19-03-2020

Mogger

CTS,

I have been through my presentations from the days of MOG and can't find a "breakeven oil price". To be honest it wasn't something the industry published back then as they never thought the oil price would get anywhere close to any breakeven!
Paul's estimate is probably not too far from the actual though

Mogger

Paul,

The quantum that RKH is claiming is over $300m. The tribunal has already looked at both parties arguments over probable reserves and so will already have an idea of the maximum award.
It would only be a fool to suggest that all will be payable in the event of a win, but as to the percentage nobody knows at this stage.

Mogger

Greenspot,
My prediction was correct - you are related to Godders!
Today you wrote "Don’t waste your energy getting worried about what I do, a bought in early March" (sic)
On the 5th March you wrote "I am watching now from the sidelines" so we know you hadn't bought by that date.
And then two days later the share price was lower than today's price so had you sold you would actually be in profit.

So you are trying to tell people that you bought your £10k on Friday 6th ( when the whole market was in Covid meltdown!) despite saying today that you bought when you thought " at the time economy looking good"
This was only a week after selling out proclaiming that the company was doomed!

You will next be saying that you have never worked in an investment bank!
Mogger

Greenspot,

But you sold out on Feb 27th!
"Got out 100% at mid 16p. Took a haircut but thankfully I did... best wishes everyone.. 13p next stop"
Are you related to Godders?

Mogger

All,

https://www.bloombergquint.com/business/oil-companies-wonder-if-it-s-worth-looking-for-oil-anymore

Mogger

Godders,
Why would you want a quote?
Unless of course you are still buying!

Mogger

All,
Just more words - not worth reading.
Apart from the expected FID and sanction date

https://www.magna.isa.gov.il/internet/Forms/2020-01-072444/Navitas_070720_Final_isa.pdf

Mogger

All,

News from the Islands. More wasted effort from the FIG.

https://fig.gov.fk/assembly/public-papers/executive-council-papers/send/441-24-june-2020/2738-75-20p-sea-lion-development-land-set-aside-gordon-lines-stanley

Mogger

Lse,
So they lied to you as well.
https://www.investegate.co.uk/rockhopper-exp-plc--rkh-/rns/result-of-annual-general-meeting/201905151430011494Z/

No wonder you are annoyed.
You must try harder

Mogger

Lse
What was their reply?

Mogger

Lse,

Who did you ask?

Mogger

Anyone actually spoken to someone at Rockhopper with a view to getting the breakdown of the polling?
That's what I would do. Rather than just moan on an internet forum.

Mogger

Godders,
On the 6th Nov 2019 you wrote
"60k ON AVERAGE"
Now you say " I invest on average 50 k"

Still making things up then

Mogger

Surfit
They have published the results of the poll in accordance with the Companies Act. They have no obligation to publish the poll counts unless you( and others) think the vote was fraudulent.

Mogger

Not at all. It's a similar mistake that someone else made not too long ago.
Interesting

Mogger

Gettingpoorer,

"Disgraceful place supposedly ran by Financial Services Authority ."
Difficult as it was abolished in 2013

Mogger