Member Info for Ovets

No it wasn’t Happy

The cost had spiralled and was no longer affordable without that £150M loan, which can only be repaid with oil revenue

Happy is still trying to lower the sp before it’s too late.

Keep trying Happy, as I’d like a few more before we take off.

It depends on what will be announced along with FID

Not a silly question

Someone who is thinking about the situation, and is worried about something that none of us knows all the facts / answers

For those who are confused about FID, it should be understood that Navitas is the operator and NOT RKH.

A reminder, Sam has said FIID will be this year, but we must not be disappointed if it doesn’t happen in October, as it will be later in the year.

As there isn’t much left of 2025, that probably means November.

Don’t tell me there’s no climate change when over 8 Billion of us are living like there’s no tomorrow, driving to a shop which is a 5 minute walk away, chucking our rubbish all over the planet and even the stuff we believe we are disposing of responsibly, is being dumped in the sea, sold to distant countries, where it’s just dumped, and the rest goes to land fill or burnt in polluting incinerators.

Some may be recycled, but only a small fraction.

The main reason ‘We do’ is because unscrupulous companies offer these products, often with few or no alternatives, and we buy and use them because the unscrupulous companies tell us how wonderful they are for whatever it is.

Have a look at what Monsanto got up to before they were eventually acquired by Bayer. Just one unscrupulous, profit driven outfit managed by unscrupulous liars.

Climate change is NOT a scam, but that argument is irrelevant if the climate change fear is shutting down our oil/gas industry regardless.

As far as SL and RKH are concerned, it works in our favour

Anyone throwing a lot of money into RKH shares would be wise to take notice of all aspects, including what Happy is posting (even if you don't like it), so I have been pondering before committing any more.

Yesterday the World Meteorological Organisation (WMO) published their 2023/24 stats for climate change and particularly carbon emissions.  The outlook is grim and some believe we have already entered a period of irreversible and eventual runaway global temperature rise.

Whatever the eventual outcome, one can perhaps understand why Labour is obsessed by a renewables policy, which is resulting in the emasculation of our oil/gas sector, particularly the North Sea and activities centred around Aberdeen.  Trouble is, while that seriously affects our economy, others elsewhere will continue to profit from producing oil/gas.

Our very well established North Sea oil industry, at all levels, must be looking in dismay, as their prospects decline before them.

But there's a brand new, untapped oil/gas region in the South Atlantic, ready to start virtually immediately if only someone would give the go-ahead.  With WMO warnings and limited time to extract that much oil & gas, the sooner to start the better, surely?  It doesn't matter what today's oil price is, it's what it will be when it's produced that matters.  Most forecasts indicate it will be higher than now.  Some suggest MUCH higher than now, but not lower, as World demand continues for longer than anticipated.

Oil industry companies and staff, who were seeing their livelihoods in jeopardy, can see a monster opportunity opening up, just as they were starting to consider looking for something else to do.

Happy says that the risk of SL FID not happening is increasing with Navitas delaying the SL project, for the oil price to recover.  But surely Navitas should be getting started as soon as possible to be ready for when the oil price has recovered, taking advantage of what must be a growing army of companies and North Sea experienced staff who are already starting to look for new jobs/careers?  Navitas can have the pick of the best and at affordable cost.

It was Marlon who posted here that the preferred way of working should be parallel workstreams to open up the region as quickly as possible.

My conclusion is that the Navitas just happens to be exceptionally fortunate to be approaching SL FID at a particularly opportune moment to develop the FI oil/gas region with all the necessary expertise readily available at just the right time.

As for Happy, my conclusion is that either his motives are devious, or he isn't looking at the bigger picture of what could be about to happen.  I believe he knows very well and wants you to sell some of your shares to him and his mates, on the cheap.

The FI election wasn't postponed for Navitas to delay everything for everyone involved, while they tried to make up their minds about something they have been working on for years.

We know Beacon is/was the operator, but that doesn't mean 'Navitas had nothing to do with it'.

What it does mean though, is that Navitas are certainly going to have to bring expertise like Beacon's into the SL project in the form of a JV partner..

And who is that likely to be? Not long to wait to find out.

Also, Navitas have no time to waste, nor do all the others who have been lined up for the SL project.

There is a bit of planned contingency until 31/3/26, but that is for real emergencies, with an FI election, Christmas, New Year to get in the way of any last minute issues, but Navitas are going full steam ahead for SL FID and sanction.

‘ I thought your were intelligent enough to know this. Why are you scaremongering?’

Because he’d like the sp to drop a bit further to buy some more on the cheap.

Navitas have made it very clear they want FID ASAP and the FI election has even been postponed to enable this.

Ignore Happy, who’s just another trouble maker

BTW, just want to thank whoever it was who recommended Brave browser.

Whenever I try to view LSE site anywhere else, it’s an absolute nightmare.

What happens will depend on what else is announced at, or just after FID.

I doubt if it will be just FID and nothing else.

True.

We had more than enough distractions with the likes of PJ wanting RKH listed on a senior exchange, and what that entailed, eye-watering sums being spent on badly planned schemes and Tony Durrant promising us FID in a few weeks, when we can now see that PMO hadn’t a hope in hell of ever getting this over the line.

It’s a miracle we’re still here, just by the skin of our teeth .

Of course, no one could admit to that publicly

That is a widely held view

I suspect you aren’t the only one hoping for a brief retracement, but we’re running out of time for that to materialise, especially as word is now spreading about an imminent FID.

Not sure why we 'Recommended' a blank page, but thanks Mogger anyway.

There's not even enough to be able to read between the lines !