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Ok from the AGM presentation. Sam said that Navigator were talking about FID in 2024 and from FID to first oil was 2 and a half years, so on that basis is 2027, jeezus, this game is slow. If its 2027 that is 40 years since I bought my first “get rich quick” shares in desire petroleum.
Wow, hindsight is a wonderful thing, half life time and a big paper loss later and we still waiting on the cursed oil to be brought up.
I thought FID and first oil would be much quicker than Sam is now saying, disappointed to be honest
Hey,
I am a long term holder from original desire pet as well but back in the 80s, so my pain is just as bad. My average is still multiples of todays price despite buying in at numerous levels.
The OO allows you to buy 1 share for every share you own at 7p, which is the current sp. The carrot is that you can buy 1 share for every 2 you subscribe for in this offer at a fixed 9p at the end of 2023. You don’t have to buy them but if the sp rises above 9p is a no risk profit on those shares.
It depends who holds your shares, mine are with ii, you have to go into a tab called corporate action and it gives you the OO and your allowed subscription that you can amend and confirm or just ignore.
If you do nothing you get no more shares. If you take up the allocated subscriptions then you need to put the money in your account. You can also request additional shares from the OO, again cover these costs by putting money in the account to cover it. If you don’t get any or all the additional shares you request they will return any due money in a few weeks. I believe the new shares go live around the 6th or 9th July, it’s around those dates but I haven’t that data on my screen right now.
I have taken up the OO and requested additional shares because I don’t see much down side from here, then again I’ve been wrong before over the last 35 year lol
Good luck
DYOR IMHO etc
I noticed in the vote for the agenda items in the upcoming AGM, thee as votes for dissapplication of pre emptive rights.
My understanding is that preemptive rights means they have to come to existing share holders to offer new shares before they go elsewhere and offer them (at lower price) and hence dilute value for current share holders.
I’m not sure if this is always in the voting as I don’t usually vote. However I voted against this, as I would rather be given opportunity of a rights issue than someone else with nose in trough getting cheap shares.
As for Argentina I remember the Falklands War, fortunately I wasn’t in it. I do think a country has to show strength. Kirchner isn’t a person you can reason with. You would have to speak with someone more reasonable not about a settlement but about commercial agreements on the basis of win win for the Falklands and Argentina without giving up any sovereignty. There must be commercial things the Argentinians can do and benefit from to support oil industry.
Again it needs a good negotiator and unfortunately all we seem to get is very inept sabre rattlers on both sides. I despair at who actually gets to represent us in such matters.
Ralph - then we agree to disagree and that’s ok.
My ultimate concern is that innocent people are now victims of politicians. The US is not out to defend democracy, look at the mess made in Iraq and Afghanistan, they always have their own agenda, selling arms, getting oil or pushing their capitalist program of bring US businesses money. I’ve seen it my whole life time, when I was even in the military in the 80s during the Cold War serving in Germany with the usual propaganda that Russia was coming with nukes. I like to have a balanced view now and want peace settlement not pumping arms, this is grossly irresponsible and causing more deaths
I don’t quite agree with your comparisons with Argentina and Russia. I know this won’t be the popular narrative we are being fed, but…
The US played a massive role in creating this problem, reneging on agreements that NATO would not expand and that Georgia, Ukraine and Belarus where red line countries to be kept as a buffer.
The US continues to feed arms instead of helping to negotiate a peace, remember it conspired to overthrow the previous government in Ukraine for a western leaning government. Bidens son is even involved in taking money from corrupt companies in Ukraine and the US democrats want revenge on Russia because Hilary Clinton lost to Trump and she blamed Russia, which ended up as complete lies.
You have to look beyond the main stream press for the truth. The US is fighting a proxy war with Russia and using Ukraine. Both the Us and Russia are to blame, but they have to come to the table. The rhetoric of a victory by both sides is nonsense. Ukraine is now a mess and will be for a long time, in my opinion.
Until common sense prevails
I may be dead by then, I’m not getting any younger, so this oil better start flowing soon lol
Good luck all
https://icsid.worldbank.org/services/arbitration/convention/process/award
Cam across this when searching “render award”, not sure if it helps but looks like tribunal have closed on listening to any more arguments and the award is binding, like it says should be July. I have always believed that RKH will get a pay out.
1. Why did both parties enter arbitration if they didn’t believe there was a case
2. Why did the law firm take it on as a no win no fee
3. Why has the Italian government played every card to subsequently delay or refute the claim at all since entering arbitration
To me it points to RKH win and win big
Good luck all
Yes I read the whole case document https://www.italaw.com/sites/default/files/case-documents/italaw10646_0.pdf
Basically the Italian representatives get slapped back down at every objection they raise the final few bullets summarise it all. The more I read, the more I’ve award will be made to Rockhopper, it’s just whether the EU has some final delay tactics in making the award enforceable, because there are other claims in the pipeline as well.
Being searching on more detail on who is actually fighting on both sides for the OM arbitration. Came across this article
https://chambers.com/department/king-spalding-llp-international-arbitration-commercial-arbitration-uk-1:2717:11805:1:3635
Looks like these guys have got their top people on the $400M rockhopper arbitration case.
Also an article on the Italian governments legal representative , reading his views it looks like even if Rockhopper get awarded (looks highly likely) he may try and seek EU support to not recognise the award. Sounds like it then has to go to another independent judge to make a final decision if I read this correctly. Anyway, my take was Rockhopper most likely to win, but Italy will do all they can to stall further post award. Hence why plan B is required for funding to keep the lights on.
I do think OM decision will be announce in the “next few weeks”, meaning mid May latest.
The shenanigans have been done I believe and now we are in the more solid part of the process. Sam will need a plan B hence probably lining up some funding / dilution around the current price. I would prefer option given to current share holders to buy in at a discount but as we know shareholder value hasn’t been RKH strong point
There may be a price already set / being discussed for an investor buy in to help with liquidity in my opinion. This will hold the price down until it’s announced. Of OM really did come in then the need for capital raising may not be an issue, but depends on cash flow. I’m really a bit surprised that Navitas are loaning all this money to RKH, but in the short term RKH needs some working capital? Why don’t Navitas just give them a short term loan as part of the agreement?
Good news always brings out the likes of him/her.
The long term investors know the significance of these, RKH is a 36x bagger just based off Sealion phase 1 profits alone.
This fool knows nothing
Good luck all, the train is leaving….finally
I have marked April 23rd as Godders Day, the day he predicts RKH will be insolvent.
The day will be started with much grinding of teeth by Godders and end with “we are all doomed” messages…wait that is like any other day.
According to Rogue trader, current mkt cap has. 36x potential just based off ten profits of phase 1 Sea lion. Now add the other fields.
Downside is we probably run out of cash by end of September, so the Navitas agreement or OM settlement will be needed by then to avoid dilution, but my money is on the deal is done with Navitas, just dotting iis and crossing tts.
Good luck all