Member Info for Mogger

All,
The FIG have today published their Legislative Drafting programme for the next 12 months.
After the legislation required for their annual budget, the next highest priority is legislation reflecting Minerals Directorate plans to facilitate offshore oil extraction. I have extracted a couple of quotes from the document, but it is worth seeing how much legislation is having to be done by looking at the table ( especially the column titled "Oil Readiness?")

"The programme contains a significant raft of legislation required in support of development to first oil. The nature of the priority is industry driven to an extent.
The Minerals Directorate is seeking input from key stakeholders (including offshore operators and the FCO in particular) on the programme management of this work; ie ensuring that the right legislation is prioritised in the right timeframe; having regard to resources, dependencies etc. This work is expected to absorb the majority of existing legislative drafting resource for the coming year."
"offshore minerals related legislation – there would be a significant risk of substantial delay in moving towards extraction of offshore oil if the legislation required to support industry development is not significantly progressed during the coming year (with FCO intervention and/or loss of operators being the ultimate risk);"

Interestingly they note that a risk of delay is for the FCO to intervene.

http://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/406-08-24-july-2019/2553-107-19p-legislative-drafting-programme-and-priorities-2019-20

Mogger

Tuggy,
You're back early. What happened to your promise?

Mogger

Nice expected timeline....
https://www.tintoarchitecture.co.uk/project/falkland-islands-oilfield-infrastructure-project

Mogger

Sabyam,
Your theory of insider trading wasn't very distant on the 12th July!
"Let's see what the FCA say to my report of share price manipulation/insider trading allegation?"

Please desist on talking nonsense!

Mogger

Carrot,
No - its just confirming what Durrant has said many times in the past starting from an interview in 2017
"He expects about $600m of the $800m to come from the UK and the remainder from export finance agencies overseas.

“We’ve got some equipment manufactured in Norway, Denmark, Germany etc. Their export credit agencies are also involved but they would come into a syndicate led by the UK,” said Mr Durrant. "

https://www.ft.com/content/8e3cd760-89a3-11e7-bf50-e1c239b45787

Mogger

https://webcasting.brrmedia.co.uk/broadcast/5d2de12548a6d52f84f6a175

Saving the best till last

Mogger

All,
FIG wasting UK parliamentary time
http://www.legislation.gov.uk/uksi/2019/1110/made

I think that's all the legislature done now

Mogger

All,
Our funders seem quite happy with themselves

https://www.harbourlitigationfunding.com/harbour-funded-claimant-defeats-jurisdictional-objections-in-icsid-arbitration/

Mogger

Carrot,

2389030 and I accumulate every month

Mogger

Carrot,
Let me remind you of your post on 24th November 2018
"Giblets
Own 2mm shrs at 36p cost and accumulating fyi"

So with the 2.5m shares that you had @.36p on the 24th November and these 1.5m bought at "v low 20 average", you will break even at your intended sell price of .29p.
And that doesn't include all your other posts where you say you have bought "blocks"
I can list them if you want
Thats £1m invested for 7 months just to break even.

Are you making things up again?

Mogger

Carrot,
Whats your total share holding now then?

Mogger

Specul8,
The article you have posted is 3 months out of date. It was posted on 2 April.
Things have moved on since then

Mogger

http://www.premier-oil.com/sites/default/files/presentation/190708-investor-pres-july-2019-v1.pdf

Marunam,

Nice find.

Mogger

All,
The legal case so far....
Its is a long read but for those interested it shows how the case has progressed to date.
Italy has thrown everything at this to try and stop ICSID hearing the case...and failed.
Unknown by me until now, but it looks like quantum has been assessed already with Italy having had access to Rockhopper's data room on Ombrina Mare. Good to see that Rockhopper got the chairman of ERCE ( David Wilson) to write the Expert report.

https://www.arbitratoinitalia.it/wp-content/uploads/2019/07/rockhopper-v-italy.pdf

Also of interest is the conclusion, last month, of another ECT case brought to ICSID; 9REN vs Spain.
9Ren is a company headquartered in Luxemborg but has been awarded $47m and has decided to enforce the award in the USA. I wasn't aware that the claimant could choose where to enforce the award but it does answer those who wondered which Italian assets in the UK could be used to pay
https://www.offshore-alert.com/9ren-holding-sarl-v-spain-complaint-to-enforce-arbitration-award.aspx

Enjoy,

Mogger

Fecm,
There is plenty to like!

Mogger

All,
Resolution of Tribunal Hearings, resulting in reduction of tax owed

http://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/416-27-june-2019/2536-88-19p-draft-taxes-amendment-bill-2019

Mogger

All,
Changes in tax rules regarding equipment brought into the islands on a temporary basis for oil exploration and production
http://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/416-27-june-2019/2535-87-19p-oil-taxation-temporary-assests-depreciation-allowances

Mogger

All,
Changes in oil taxation law
http://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/416-27-june-2019/2533-85-19p-oil-taxation-decommissioning-carry-back-period
http://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/416-27-june-2019/2534-86-19p-oil-taxation-s34a-interest-payable-deduction-of-tax

Mogger

All,
Changes in Dangerous Goods Policy in preparation of Sea Lion
http://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/416-27-june-2019/2532-75-19p-dangerous-goods-detailed-policy

Mogger