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Thanks Paul D in particular for such a thorough synopsis, which is greatly appreciated.

And thanks to everyone who attended for their contributions.

The LC principle makes a lot of sense, but surely not to be slavishly followed without making allowances for different project details?

It’s more of a guide than a set of rules.

It’s possible that Henrygroucho is right in the very long term, but as things stand, while there are plenty who resent the $US being the world’s dominant reserve currency, they reluctantly may have to accept there isn’t a better one at the moment.

I don’t see that changing for a long time.

GT & Co. must have taken the view that it was worth booking the alternative slot elsewhere while still available. Waiting and hoping the SoH would be open AND safe just when we needed it was too great a risk and then trying to book the AM somewhere else would likely cost a lot more than $45M.

$45M is a lot to throw away, but this wasn’t throwing it away, but rather good planning and having the b**ls to make unwelcome decisions

Landman, thank you for making my point so well.

Landman, no doubt you are a genius, but we’re all hot and bothered, so a bit of restraint and civility would be appreciated.

If that happens, I will take some off you to add to my collection.

I’m sure there are many who want to talk down the sp, and there will be those who will panic, just give up and hand their shares over for a few pence. If so I’ll be there to pick up a few more.

But now that Ian Ramsay has told us ‘the train has left the station’, it won’t be all that long before some (maybe the same ones who are spooking the sp now), who will be wanting your shares and prepared to pay a premium for them.

LTT, you have to put in context and remember that it was Divi, using another alias, who posted that he had attended a Navitas public meeting. He couldn’t remember who had spoken, but he was ‘a big man’.

Anyone taking any notice of someone who posts stuff like that needs to put him on filter to prevent having a meltdown.

I keep Divi unfiltered just out of curiosity to read what utter rubbish will be posted next.

If the sp did fall to 60p, you can be sure I would have a buying spree, as I did yesterday and now I’m even more in profit than before.

About the sp fall, some are saying, who would commit their money to sit waiting for 2 years without any prospect of income (dividends), possible further funding calls (e.g. for the 2nd FPSO) and other possible events.

So why would anyone hold RKH shares at the moment?

If it were simply some oil field that might start production in 2 years I would agree.

But in this case we have a potentially brand new oil & gas region about to open-up, starting with SL, with a lot more to follow.

With a very benign and secure jurisdiction with particularly low Royalty rates, in a relatively quiet part of the World. Yes, I have heard of Argentina and their continued claims, but Galtieri's mob only managed to get onto the FI because the UK had virtually forgotten about and abandoned the place. Milei has no intention of reviving that.

The F Islanders know they don't have a secure future without oil revenue.

Soon after the SL project got the go-ahead last year, Trump put the cat amongst the World oil supply pigeons with his ME war. This reminded everyone that having such a large percentage of World oil supplies passing through the Hormuz pinch point might not be such a great idea for stability.

In addition to that, both sides started smashing-up their oil & gas production and processing facilities, which will take some time to restore to 'Normal'.

So the SL project isn't just any old oil field, but the start of something potentially enormous, just at the time when the World needs alternative, safe supplies, particularly of heavy, low sulfur crude.

I regard the RKH shares as a coiled spring, which could be triggered well before SL 1st oil by a number of things, not least a take over.

And that's why I've got a lot of RKH shares (all in tax-free ISAs) and I buy more on the sp drops (as I did yesterday), just waiting for that coiled spring to be triggered.

You’re right, this was raised a number of times and discussed at great length.

It’s a well established phenomenon with clear rules and procedures.

Yes LTT. Brent crude is currently $79, which is hardly a “collapse” and above the figure used as the benchmark for SL project costings.

If you ask me, there’s mischief afoot!

If you’re right Much, then all the more reason to hang on to your shares with a vice-like grip.

I was always told that, unless you know the company is about to go bust (or something like that), or you absolutely need the money now, then NEVER sell into a falling market.

Would I be right in saying that if there were to be another fund raise, say for the 2nd FPSO, that would indicate that there will be no new JV partner joining the project and RKH would continue to enjoy its 35% share of SL?

And of course, vice versa: if a new partner were to be announced, then the 2nd FPSO costs would probably be covered, but RKH might have to give up part of its share of SL?

All a bit strange, if “the train has left the station” and any changes are only likely to increase production sooner, with corresponding increased revenues?

Yes, stop losses can be a real attraction to those wanting to trigger them and 70p is / was a likely number for many to set.

As for the Aoka Mizu, I thought it was due to be in H&W for 3 weeks

If we’re going to use the train analogy, then you’d better have a ticket (shares) and don’t let go of them, or throw them out of the window (sell them cheap).

My understanding is some companies allow non-shareholders to attend their AGM, but it isn’t normally a right for non-shareholders.

I agree with LTT, although if you register to attend via your broker, they should notify RKH so all you have to do then is turn up and make yourself known as you arrive. Your name and shareholding should be on their list.

Yes, and this aspect is not even considered (or even understood) by many, who then post stuff here as though they’re experts.

Thanks for reminding us

For those who want to trade this share on the price undulations, best of luck. You can make a lot, but you can also lose all your profits if you get it wrong.

If you’re trading the undulations, then you’ve got to be on the ball the whole time to make it worthwhile.

If you’re here for the long term, you believe in the project and have a comfortably low sp average, then you can afford to get on with the rest of your life and even forget about RKH, while doing something more interesting.

I mainly keep an eye on to things in case a buying opportunity presents itself, and we might see that happen, as LTT suggests. And then we may not.

In the meantime, if you’re invested longer term, then as I’ve posted many times before, don’t be panicked into selling your golden shares on the cheap to those who’ll steal them off you before you can blink.

I think it’s worth mentioning that a lot of work is progressing nicely in the FI. We may not hear much about it, but it’s literally laying down the foundations for a new oil & gas region that’s about to open. By the look of it, on time and with the price of Brent well above what might have been predicted as short a time ago as when FID & sanction were announced.

Totally agree delta.

We have as good a management team running this show as one could dream for.

Not yet seen a poor decision from Navitas, nor any indecision over difficult and/or key issues.

Ignore the noise on this BB from those who couldn’t run a cold bath, or organise a p***-up in a brewery.