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I believe LTT's version is more likely.
BOR going ahead, while remaining as it is, would probably end in disaster, even if by then much of the infrastructure would have ben put in place, courtesy of Navitas/RKH.
Just like RKH, BOR don't have the resources, but they do have the licences.
I'd prefer to see an RKH/Navitas-led initiative, where all those involved already know the situation, the contacts, the problems, etc., and can get Darwin going, though perhaps with a different partner?
As for BOR trades, the trade volumes are generally bigger than for RKH, but at 2.5 to 3p/share, you can get around 100,000 and hardly notice it, which for the same money would get you about 20,000 to 25,000 RKH shares.
Good points and totally crazy. As well as all sorts of unforeseen events along the way, many investors have abandoned oil & gas for such things as renewables, Google, Apple, Tesla, generative AI and REITs. Some may return to oil & gas, but perhaps not in such numbers, at least at the start.
Regarding the EIS, or EIA (whichever you prefer), assuming Navitas are reworking the PMO EIA, that was an absolute monster document, so not surprising it is taking time.
As for getting SL into production, it looks as though the initial phase could be relatively small scale, but generating enough revenue to start funding project expansion and thereby increased revenue (and tax for FIG), plus credibility to make sceptical observers realise that this isn't a remote stranded asset with hostile neighbours, but a real opportunity to join a potentially massive new oil & gas region worth $Billions.
As far as FIG are concerned, they don't really need $Billions to bolster their reserves per capita substantially, so a slow(ish), but quick and certain start, with potential for lots more to follow, is not unattractive.
I forgot to add:
https://www.the-falkland-islands-co.com/
While not the only ones, FIC probably has more presence than any other (land, construction and property, retail, accommodation, vehicle sales, etc.), but they're probably not big enough / organised enough to deliver everything that Navitas is asking for without help.
Warrants expired on 31/12/23, when those not exercised just turned to dust (or vapour - whichever you prefer). Those that were exercised have already been added to the shares-on-issue total (see the 'Total Voting Rights' RNS dated 10/1/24).
Thanks for that link BB - one of the best articles I have read about FPSOs and with 100% relevance to the SL project.
I would advise anyone visiting this board, especially those intending posting anything about FPSOs, to read this article from start to finish first.
Completely agree that it's useful to address all points, play devil's advocate and generally ensure we understand as much as possible about as many issues as possible.
But once someone, with obvious knowledge and experience of a topic, has clearly explained things, I would suggest we should graciously accept that explanation, unless we know better.
TCM, making comments such as "......you don't understand my point on the timing as it must be above your level of comprehension", isn't helpful, and hardly meets your own standard for civilised discussion.
Ralph, most of us are 'long suffering holders', who are not getting any younger, so I include myself in that group.
You've missed the point, which is about naive, ill-informed holders, who don't appear to take the trouble to do a bit of research for themselves. Otherwise they wouldn't come here and blame RKH management about issues that are not RKH's responsibility.
I think the worst is is moaning about RKH not having made any recent announcements, when they quite obviously have, but only about issues which are relevant to RKH.
Only a fool would moan about RKH not having made announcements regarding the operator's role (i.e. Navitas).
Following that are the relentless insults about Sam - as I have repeatedly posted, Sam has definitely made past mistakes, which I'm sure he's well aware of. The person who never made a mistake never did anything. It's those who don't learn from their mistakes that you need to worry about.
Sam has played an absolute blinder regarding the OM award, with a lot of help, but at least he and the board have listened to the advice and ended-up with a remarkable result.
He has also kept RKH afloat, now in a strong position. Those who vilify him now appear to have an unhealthy and vindictive axe to grind.
For those who are asking and who missed any previous post on this, my opinion is:
Unlike many companies, with average (or poorer) management, who feel the need to make announcements all the time, usually to boost their sp (which DEM refers to in his post, below), Navitas only make announcements when they have something worth saying and about which they are confident. Otherwise they get on with the job, which they consider more important than constantly making empty announcements to please empty-headed shareholders.
The constant, inane comments from some posters here only prove how little they understand about what is entailed in starting oil production in such a remote, pristine location as the FI, with all the other things going on in the region.
For those here who complain about RKH not making any recent announcements, those fools are wrong on at least two counts:
1. RKH has made a number of recent announcements, but only about issues that are relevant to RKH (e.g. warrants, OM award progress, etc.).
2. RKH is not the SL operator, so RKH is not in any position to make announcements, on behalf of Navitas, about progress to FID, sanction and first oil - imagine the chaos (and protests from Navitas) if RKH started making important announcements about Navitas' activities.
Navitas have announced that SL FID will be in 2024 and that they plan for first oil in 2026.
In all their other activities, Navitas have been spectacularly successful in meeting their published plans. Where there are issues / difficulties, they have said so.
We're now in 2024 and Navitas hasn't made any announcement to indicate that they're having difficulties meeting their announced SL schedule.
If they're arranging funding and/or engaging with other potential partners, it would be seriously bad timing for Navitas to have waited until now, in early 2024, to announce that they're not going to achieve what they have announced.
I'm not going to try and guess the date and time when FID will be announced, nor the colour of Gideon Tadmor's shirt on that day (as people used to try and guess the colour of the Queen's hats at Ascot). I think the above is sufficient.
In the mean time, I suggest those who endlessly bleat about there not having been enough RKH announcements and/or making unjustified and irrelevant criticisms about Sam, should shut up and wait for the announcements, which will come when Navitas are good and ready.
I still want to know why one of them (DL/Godders) has two login IDs. We're all waiting to hear.
"There's a reason we havent had an RNS in a long time"
DL/Godders, you do realise you're posting this comment on the RKH board, do you?
Navitas is the operator, or don't you realise that?
As for RKH, we've had an important announcement within the last month. How many announcements do you need to be satisfied?
Also, you still haven't told us why you have two LSE logins/IDs - why do you have 2 IDs?
They may not be saying much, but that doesn’t mean they’re not doing anything.
I think those who incessantly post rubbish here are the sort who just jabber for the sake of it, apparently not realising that there are others who get on with their work without feeling the need to jabber all day.
That seems to be the Navitas way of doing things
Godders / Decidedleaverage, don't try and divert attention from your activities by asking me when FID will be.
I'm not in any position to say FID will be this year, that's for Navitas alone to say and you know it.
Navitas have said they plan to announce FID this year and so far they have been pretty good at keeping to their plans, so if you don't believe them, ask them and not me.
Back to you Godders / Decidedleaverage: Answer the questions and no more Obfuscation please:
1. Why do you have at least two logins/IDs ?
2. What do you mean by "we haven't had any updates in 9 months"?
Decidedleaverage, you (and your alter ego Godders) are up to something aren't you.
Haven't quite worked out what it is yet, but you're not posting your negative comments here just for the fun of it.
First, why do you have at least two logins/IDs when you know that isn't permitted?
Let's start with that and go from there.