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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.

Absolutely, if there aren’t any juicy stories around, they’re out of work, so why not make something up, or conflate some bits and pieces into a story.

After all, if it turns out to be a load of rubbish, who would remember the details?

P.S. Did you get a picture of a barnacle?

Brilliant pics Danger_Man.

Might not mean very much to some folks, but for us, they are brilliant.

Thanks for sharing.

My response to Biscuit yesterday (14:54) was perfectly reasonable and Biscuit's response (20:26) I found somewhat tetchy.

Perhaps my use of 'misinformation' was wrong, but we've seen what was in this Mercopress article before. Maybe a better description is that it conflates a number of points, which when seen together paints a picture of the aggressive Peronist Argentina (particularly under Cristina Fernández de Kirchner), which is not Milei's Argentina.

Example of conflating, take the 2 dozen F-16s mentioned in this article. What have they got to do with it? In the article's context, they immediately insinuate Argentina re-arming for action with the FI, once SL comes into production (the last of the F-16s is due to be delivered in 2028). There's no counter explanation that Argentina pensioned-off their antique Mirages in 2015, leaving them with ageing A-4AR Fightinghawks, which as well as being no match for modern aircraft, were becoming increasingly difficult to maintain. The 'new' F-16 airframes are about 40 years old and second hand from Denmark. If Milei had really aggressive intent, he might have accepted the Chinese or Russian offers, but he chose the F-16s for a number of reasons, including they were approved by the US and other Western governments, and supplied by Denmark. Mercopress article doesn't even mention any of this, so better not mentioning the F-16s at all in the context of this article.

There are other points, which when added together make this article biased, implying a bellicose Milei, preparing for action over SL and 'Las Malvinas', which simply isn't indicated by his actions.

Milei wants to be re-elected next year, and the biggest contributor to his success will be the state of the Argentine economy and how the electorate perceive it, which so far has improved immensely during his term in office. But Milei is aware of threats from the Peronists, who are still around, so he must continue to support the 'Las Malvinas claim' (enshrined in Argentine constitution) and appeal to the potential Peronist voters.

But the last thing Milei needs is any sort of conflict / war, which could destabilise the economy, just as the 2027 election approaches.

Therefore, I repeat that this article does not reflect what is really happening and that GT couldn't give a flying **** about any military threat from Argentina.

No I won’t ‘give it a rest’ as what you’re posting is misleading misinformation.

Biscuit496, forget about Argentina, GT couldn’t care less about them.

It’s much more likely that Argentina and the UK/FIG will eventually collaborate over oil/gas than waste even more time bickering.

Yes superritch. GT and the Israelis have little time for the Peronists and we are seeing how they deal with those they don’t like, which probably isn’t lost on the Argentinians.

Milei has even stated that he’d like to be an Israeli citizen, which is unlikely to happen, but sets a much more positive agenda than the Peronists ever did.

And they completely trashed the Argentine economy, as you said.

The longer term outcome could be that Argentina and the FI agree to cooperate than continuing to bicker, which hasn’t achieved anything worthwhile.

In the mean time, Argentina should not be considered a particular risk, as it was previously.

Thanks LTT.

For those of us who are staying for first oil, or if we’re taken out beforehand, this is just a bump in the road.

And for those with a bit of cash in reserve, a great opportunity to buy a few more shares on the cheap.

Whatever the case, the wheels are definitely NOT falling off.

‘Still, with the new board members coming in, surely there cannot be an offer kicking about’.

It doesn’t rule out a hostile bid suddenly appearing.

Bootledodger, when you say ‘So sick of hearing that’ about it being a buying opportunity, that probably goes for most of the rest of us.

Despite that, it really is a buying opportunity. You don’t have to buy a lot, as most of us old hands are probably fully invested already to our own limit, but at this price, I’ve added a few more.

RKH management were disappointed by the OM annulment, as it seemed likely there would have been a large award.

Sam should be congratulated on having insured against the award being annulled and the payout was very welcome at the time, as well as demonstrating management competence.

The new claim is mainly aimed at providing the insurers with an opportunity to recoup their losses. It’s certainly not being viewed as part of the funding for SL, as the outcome is completely uncertain and any payout is not likely until after SL first oil.

However, if the claim succeeds and there is a payout, anything remaining after the insurers have been paid will belong to RKH, but by then, it might not amount to much by comparison with the oil revenue.

Superritch, I’d regard any sp fall like this to be a buying opportunity - there is no bad new news at the moment.

In fact things have never looked better

Get a picture of it DM, so we can all enjoy the experience.

I think you’ll find, on that occasion, it was the driver’s fault.

Wrong thread. It’s hot and Saturday.

I’m going back to sleep

Who’s arguing?

Thanks Much .

Tend to agree, but I don’t think we’ll hear anything tomorrow, as TASE has now aligned with other major stock exchanges by functioning Monday to Friday.

Whatever it is, it doesn’t look alarming to me (famous last words). If it had been a panic fire sale, the sp would have been lower for all of that lot.

I’m reasonably sure that Trump’s ‘brilliant’ military operation has made GT (and others) review and revise their strategy.

Totally agree markers.

And if one mentions the heavy waxy oil from SL (which is no secret), then why no mention that it’s low sulphur, which is pretty important and commands a higher price?

Clearly there's a lot of risk involved with any project like this, but I think there's a bit too much 'glass half empty' going on here.

I bought my first RKH shares in 2006 and have ridden the up and downs, got out completely for a while, then back in again and very glad I did.

I respect the caution expressed by Marunam & Mirasol, but I think you're overdoing it, especially as things are now.

This isn't a typical British project, managed like HS2, without clearly stated objectives and milestones, where with spiralling costs, mediocre management reacts to issues (probably accompanied by 'Oh God, what are we going to do now?') by cutting the scope, so that it ends up a mere shadow of the original concept.

Trump's crazy war is really rocking the boat, but instead of panicking about the FPSO refit on the wrong side of the Strait of Hormuz, and perhaps just sitting and hoping things will be resolved in time for it to be done in Dubai, Navitas has successfully reorganised it. That must have taken quite some doing in such a short time, to keep the project on schedule. Of course that will cost more, but both Navitas and RKH have the additional funds without having to return to shareholders. After the OO, I can remember posters here questioning the wisdom of RKH raising additional funds, when full funding for SL to 1st oil had already been achieved. Well, now you know why it was wise and not foolish.

This is a tightly run project, where nothing is left to chance, just like when Sam paid quite a high premium to insure against an annulment of the OM claim. I remember posters here moaning about that and the waste of money. Just as now, RKH management took action in anticipation of problems and they were 100% right and the project carries on with minimum disruption.

As for waxy oil, the reservoir model and the FPSO refit, what's the problem? All are understood by a proactive and an experienced management team. Most refineries in the Americas, especially in the US prefer heavy waxy crude, so what/s the problem there? Why raise it as a potential issue?

Why wouldn't the drilling rig perform to specification?

I can see that some might try and talk-down the sp, to buy a few more before things go mad (I'd buy more, just as I did today, when the sp fell), but please don't post nonsense about a project that's only going one way.