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Is he still posting? With some other name? The heady days of drilling and Desire, ten knowing the basin is full to brimming....sea lion is just the start, but the timing has sucked so much....one day the world might realise we still need oil and it’s not a tap you can just turn back on
New name for company......really disillusioned today. Lowest point for me in 35 years. We found the gold mine, that was what I thought was the high risk bit....never thought finding someone with a pick axe was the hardest bit.
Hindsight....I’ll stop posting....vented enough
Something I really didn’t understand.
Same said we got $231M when premier farmed in and $200M of the money went on capital gains tax and funding with Premier for engineering studies etc...something like that.
What the heck...so we got paid $200M to fund premier engineering for studies...this sounds ridiculous...so we actually got nothing for the farm out...just 10 years of a useless operator who couldn’t even start the project.
Instead of farming out to premier and buy Egyptian into oil producers, would it have been an option to sink just one production well and gain revenues from that. I speak from a position of having little technical knowledge. But the plans for producing have been revisited and revised so many times and so many years have passed, I reckon for a fraction of all these studies they could have used a rig to keep bringing up oil and keep the company viable with revenues?
The trouble with Rockhopper is they always looking for the sugar daddy. They market sea lion and getting 2 offers from 100 companies they approached and both offers couldn’t commit to a timeline to develop sea lion, tells you that they not approaching this correctly. I see from the presentation they now blaming Argentina. If they had some gumption, they would court Argentina, give them a slice of the pie and get them for the project instead of against it.
Fund raising seems inevitable, meaning more dilution. Hob nobs are running out fast. Very disappointed that they let premier fool them without due diligence, premier had poor financial platform and were very risky to get sea lion started. That dumb decision cost us 10 years. The priority was to get Sea lion up and running, the best offer was the one that would do that. I’d rather have 10% of something than 109% of nothing. Business brains missing.
My 2 cents
As I posted a while ago and I post little. After 35 years in a get rich quick scheme, waiting a few more weeks or months isn’t going to make too much difference.
We can speculate....my guess is that we will get an award somewhere close to 50% of the claim.
This isn’t any advice what to do, but best to wait until the facts. Yes, this investment has been a monumental disappointment and we can blame the latest BoD, but it’s not over until the fat lady sings.
I’ve held a stake in falklands oil gamble since the 1980s, a supposedly get rich quick scheme when I was in my 20s, now I’m close to 60 and I’m sitting on a paper loss, despite living through all the **** ups of Desire Pet and actually finding a glut of oil.
I read up on the latest fiasco, there is what looked like a professional paper on this claim and cited other cases.
They believed that those considering the claim will pick a half way point, between the max the company claim and no pay out, assuming both sides take some responsibility. So in essence 50% of what the boards claim is. No real science to it and to be honest sounds like the common sense approach that 2 people bartering over it would do, without the Punch and Judy show of the courts.
Good luck all, I’m hoping something comes good, because I can’t wait another 40 years to get rich quick
I’ve held a stake in falklands oil gamble since the 1980s, a supposedly get rich quick scheme when I was in my 20s, now I’m close to 60 and I’m sitting on a paper loss, despite living through all the **** ups of Desire Pet and actually finding a glut of oil.
I read up on the latest fiasco, there is what looked like a professional paper on this claim and cited other cases.
They believed that those considering the claim will pick a half way point, between the max the company claim and no pay out, assuming both sides take some responsibility. So in essence 50% of what the boards claim is. No real science to it and to be honest sounds like the common sense approach that 2 people bartering over it would do, without the Punch and Judy show of the courts.
Good luck all, I’m hoping something comes good, because I can’t wait another 40 years to get rich quick
Falkland investor....try the Vindaloo song (fat les) after England win against the turnips (swedes)......hopefully.
Rkh sp seems to have stabilised around the 40p mark. Nice cup and handle formed, if it breaks out could be 50p very soon.
Target still £5...May take a few more years....but remains possibility imho
NN
Agree positive short and long term patterns forming. I used to post on iii under a different name ( and couldn’t even remember my login name here - it’s been that long).
Anyhow, maybe the terrible iii website is a sign somehow that we are finally going to have lift off. There is more news “imminently” - so enjoy the ride.
NN