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It was on the verge of breaking the trend in the last 30 minutes which would have been very bullish.

True to form the bots have come in and pushed it lower to keep the prevailing downward trend intact.

If we can fend this push lower off in the next hour and head higher we should see a bear squeeze and reversal.

If not we're heading down again with the prevailing trend of the last 10 days continuing.

FID will have us at more like 90p in my opinion, assuming we have £80m in the bank and Shenandoah is pumping

Hey Space. My sentiments exactly.

In the scheme of things and given the potential here, the day to day swings are largely irrelevant if like me you’re here for first oil and a full appraisal of Isobel.

It is however fascinating the way certain points and prices on the way down over 5 years ago, still provide areas of support and resistance.

Personally and given the prize here, with OM imminent I find it hard to believe that anyone in their right mind would part with a single share at these prices.

There again and as you say, WTFDIK!

Much

Hey Space ...I think around the 42p mark is the resistance level based on historic charts, however time will tell.

The news flow with OM and FID are perfectly poised to make this happen.

Just got to be patient and hold our nerves as OM could drop any time soon. I think the money from OM makes us a sure thing and eminently more investible for institutions so could lead to a larger jump up than many might expect.

In the meantime we really need to hold 36p albeit you do often see flag pattern break downwards at the end and then suddenly head up in the other direction as sellers become exhausted.

Conscious that there are lots of conversations going on around technical analysis and support and resistance levels so for those who are interested to learn more here's a 9 minute video from You Tube which covers Flags & Pennants. These are the formations we've been seeing since the breakout from 15p.

https://www.youtube.com/watch?v=gqMgXGhSv6c

For info, the current RKH support level is 36p and we're creating a nice flag pattern currently, ready for the next step up.

Hope you all find this useful.

Much

I think the answer is a definitive no. Navitas are lining everything up in the background with no expectation of Rockhopper making any kind of contribution.

However and what it does do is put to bed any talk or risk of additional fund raising or equity issuance and leaves us on a very firm financial footing through to first oil.

Anyone concerned about buying in and subsequently being diluted will have these concerns allayed.

It makes us even more investable and with £80m plus in the bank and funded through to first oil, instantly worth 55p plus with FID taking us to well over a pound.

They might decide that they might have no option but to pay up in full providing RKH with the full 65 m + the percentage of the rest of the claim.

If you were in Italian shoes, you’re effectively stuck between the devil and the deep blue sea so better to pay up and draw a line under it than go through the humiliation and surrounding publicity that the impounding of assets will bring.

If it is possible that Italy will do the right thing and pay the entire amount to bring the issue to a close and to stop the interest clock running ever upwards.

I would imagine the hiring of the London lawyers is to understand what a court order and subsequent impounding of assets might look like and whether it’s palatable.

If it not and the London Legal reps inform that within days of the enforcement of the claim through the English courts, assets such as Air Italia planes are going to start being impounded at airports and there is a risk that they could be in default, potentially impacting their Moodys ratings,

Co has, technicals have a very useful part to play. Price action is the only way you can get a handle on what is happening across tens of thousands of individuals and their individual actions.

Yeah they get it sparing sometimes because human beings and news flow can be unpredictable however a failed bear set up is incredibly bullish. As it suggests sellers are exhausted at this level.

And we know OM is imminent so the potential news to drive the price through 50p could come out at any time.

Monday will be another interesting day.

If Sealion goes into production the population of the Falklands (circa 1,800 people) will have the highest per capita wealth of anywhere in the world.

Everyone of them will be equivalent millionaires.

Trust me, they’ll be all be doing very thing they can from their end to get this over the line and ASAP.

Oooh a sovereign wealth fund! That should focus the minds…….

Interesting update on British Bulls today. Having been suggesting a lull or pull back, the technicals have now gone the other way suggesting a a strong bullish rally from today’s close.

https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=RKH.L#google_vignette

Signal Update

Our system’s recommendation today is to BUY. The BULLISH STOP LOSS pattern finally received a confirmation because the prices crossed above the Stop Loss level which was at 37.50, and our valid average buying price stands now at 39.36. The previous SELL signal was issued on 15/01/2025, 2 days ago, when the stock price was 35.17. Since then RKH.L has risen by +11.91%.

Market Outlook

A rally after a bear setup can turn into an explosive long trade. We may be on the verge of catching one of them. There is now a strong positive sentiment in the market despite the absence of a bullish pattern. Today’s candlestick has a white body and its close is above the stop loss level. The bullish stop loss is finally confirmed and a BUY signal is generated. Market wants to reward the bulls. It may be now the right time to be part of this boost and bullish market sentiment by joining the growing bullish crowd.

Take it as you wish but it’s an interesting change of signal that suggests few sellers are left in at these levels and it promises a strong opening on Monday.

What a relief .. suddenly the board is restored to order and intelligent value added conversations. :)

Yup don't normally filter anyone but Ripley is a special case. Had to be done.

Hey Paul,

I wouldn’t disagree with anything you say. In fact you’re probably just about spot on.

Where it starts to get really interesting is the follow on opportunities as the basin reveals its real worth and of course the potential for a bidder to come in and take us out .

Regardless it’s going to be a fascinating and very exciting few years ahead.

Much

Remember markets will normally reflect the value of a business some 18 months out.

So as and when first oil becomes inevitable (post FID) the market will be starting to value RKH in an ‘in production basis’.

If you want to see what a share price does in the run up to first oil, have a look at Navitas which has risen 400% in the last 18 months and the run up to Shenandoah going into production.

RKH will be well north of £4 on first oil and an appraised Isobel.

And then 40p after that....

I agree 100% Ralph, with Isobel doubling it once she / her / it / them comes into play / production.

(Can't be too careful in this day & age when assuming the status of an oil bearing structure ... would hate to cause offence!).

Much

Stranded asset, however all boats rise with the tide.

92p for me please.

Much