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Hey Space .. just did the same calculation and agree that we are being shafted here. Would have expected at least a 1 for 20 to offset some of the dilution but clearly we are bottom of the pile and the institutions hold the cards.

That said the warrants help and better to have a smaller part of something definitive than a larger slice of a dream.

Shorting isn’t going very well Divi?

Bit of an understatement. You have managed to pick the 8th best performing stock on the entire UK stock market over the last 12 months to short.

It doesn’t get much worse than that. I should go get yourself another hobby.

Ha ha ha. A very good day Ovets.

Fascinating to see that Shenandoah has really moved the dial. No doubt in my mind that the insurance and FID will take us well past a pound.

This time next year Rodney!

Who was it that said yesterday 'tomorrow is going to be interesting'?

Oh yes it was me .......... :)

Let’s be absolutely clear, Darwin is a stranded asset with little hope of being developed until such time as the Falklands is confirmed as a new province with the oil flowing and dollars piling up. You are talking at least 10 years before anyone will want to look at Darwin again given its deep water and condensate.

If you are in BOR and are a believer, your strategy should be to sell now, load up on Rockhopper and then revisit BOR with your newly acquired wealth as and when something concrete happens down there.

In respect of Isobel, the priority is Sealion and getting to first oil to start the dollars rolling in.

However, and as soon as the opportunity arises, Isobel will be the number one follow on target. It’s not if, but a matter of when.

If Isobel is as full as the failed drill suggested, we are looking at a share price of well over £5 and the potential to rise exponentially as each new additional field (Elaine etc) is financed from existing cashflow. How do you think Norway managed to accumulate a 1 trillion dollar wealth fund?

Going to be fascinating to see what we open up at tomorrow morning.

If you go to 35 mins 50 seconds on the the video they start to talk about Rockhopper, Sealion and FID.

Unfortunately my grasp of Hebrew is somewhat limited so I have no idea whether what they are saying is positive or negative, however it’s clearly high up on the agenda now Shenandoah is pumping!

Navitas is up 4% already and climbing.

Tomorrow is going to be very interesting…..

Mirasol, as a commercial banker of 37 years experience I can absolutely assure you it does.

Cash flow is the life blood of any business and when considering a lending proposition, cash flow ergo the ability to repay and risk have a huge impact on the pricing of any debt / loans agreed.

The reduction in the risk of the project due to Shenandoah is why Navitas have been able to go down the bank finance route v the more expensive market and bond route.

This year I will do my best to actively search out Dave and will get a picture for you all for next year’s AGM.

So nice to be able to look at your portfolio and see a sea of green after years of feeling sick at the sight of what we’re some pretty nasty losses.

I have many similar experience but more from friends, family and work colleagues.

I'm particularly looking forward to seeing 'Dave' at the village fete this year in September who always waddles over to me and asks how my oil shares are going, usually in front of a small audience.

This year I'll flick out my phone and show him a portfolio of a quarter of a million pounds of which £200k is now profit.

His big round smug face is going to be an absolute picture!

So we have the confirmation of receipt f the insurance money and Shenandoah's flow rates set to be revealed in the next few days.

I wonder which will come first?

All being well a jump to the mid seventies is on the cards if both are positive.

Here comes the sun .........

Hey Space,

I was at the AGM so my comments were based upon what was said to the assembled. Of course you’re absolutely right that it’s it a given but the Board were clear that if they got the insurance money it would leave them with circa £50m to raise albeit the final figure would depend upon the lead bank’s requirements. They are probably going to require some additional funds as security in case anything doesn’t go to plan.

Anyway, point is that the previous fund raise was extremely successful and they managed to complete it in 20 odd days with the warrants proving to be very lucrative for shareholders.

To this end and given that any fund raise would be the final enabler to FID, they are keen to reward long standing (suffering) shareholders if the opportunity allows. So a discounted offer or warrants would be very much on the cards.

As you rightly say, with the share price rising to the mid 60s and on an upward trajectory, a discounted offer results in only an additional 80m shares so minimal dilution.

Exciting times ahead.

For anyone looking to add to their position, don't forget that he fund raise of circa £50m is likely to offer you something like 1 for every 6 shares held at a discount by which time FID will be nailed on.

Will be a very good time to top up with virtually zero risk and at a discount to the prevailing share price.

I thought as a seasoned investor you would know the age old adage 'never try and catch a falling knife' ......

Seasoned investor? Don’t make me laugh.

You’re a delusional fantasist who is trying to spin everything he can to get others to buy in the hope that you engineer a rally and extricate yourself from a trade gone badly wrong.

Laura .. I'd be more than happy to share a screenshot of my portfolio with current profits running into 6 figures if it would make you happy? After all to make money is what we are all here for isn't it?

Yes I have been building a position in Rockhopper over many years having seen the massive potential. Lloyds bulletin board is all politics and little to be gained by posting so I tend not to post there.

As you will have seen from todays trading here, I sought only to warn the unweary of what was to come based upon my experience.

So given this your point is?

Laura, the next 3 months will confirm whether I am worth listening to.

My two key holdings currently are Lloyds and Rockhopper which are up 150% and 700% respectively over the last 5 years with significant upside remaining in both.

Let’s pick up in 3 months and you can judge me on my record then.

Should add the one year chart on here best shows what I am talking about.....

Not normally but I was running the slide rule over this one to see what was going on and it has some worrying stuff going on based upon the technicals so though I would share.

It would be amiss of me not to share almost 40 years experience of investing with people and not call out the risk here. Appreciate its your cash and you should do with it as you please.

Take it or leave it but might be worth you looking at what is going on here https://www.investopedia.com/terms/h/head-shoulders.asp

Don't like the chart pattern here.

Looks like a head and shoulders forming with the neckline at 10p.

Handle with care.