Member Info for Ovets

Yes, if you want to preserve a capital gain/loss, you can't buy-back the same share for 30 days.
However, that's only if you're trading normally outside an ISA.
In this case you will have resumed trading this share within your ISA, so it's the last non-ISA trade, when you sold the shares to raise your ISA allowance, that counts towards your CGT allowance.
Once inside the ISA, you don't have to worry about CGT.

Establishing a CGT loss isn't necessarily a bad thing, if you have an extended portfolio (including other investments such as property). That loss can be offset against a capital gain in the same tax year (e.g. if you plan to sell other shares that have made a great profit, or one of your buy-to-let properties).

You can even carry-over a capital loss into the next tax year, but for that you need to complete a tax return - nevertheless, it's a potentially valuable tax concession, which shouldn't be frittered away simply by not understanding the rules.

Maybe some of the confusion is about transferring into ISAs and ISA allowance funding?
You can transfer shares from one equity ISA to another, if, say, you're consolidating your ISA portfolios to one preferred broker, but these shares must already be tax-sheltered in an ISA and the transfer(s) conducted by the brokers on your instructions. Here you MUST NOT sell the shares in one ISA and then transfer the cash proceeds to the other ISA. If you try, and you take the proceeds out of its tax-free shelter, it immediately loses its tax-free status and cannot be added to the other ISA as an existing ISA.

Your new annual ISA allowance MUST be subscribed in cash, so if you want to transfer non-ISA shares as part of your new ISA allowance, you have to sell them, transfer the cash, up to your annual allowance, then re-buy the shares once that money has been added to your other ISA. It's at the point when you sell those shares that you establish your CGT gain/loss.
You'll also have to pay trading charges, although many brokers offering the "Bed & ISA" facility only charge one lot of dealing charges, as long as you buy back into the same share that you sold to raise the ISA allowance funds.

Is that clear?

More evidence this is a "dead duck"!

Good job I sold the lot when Ralphy/carrot/etc. said I should!

sorry - Monte Grosso!

A thought that's occurred to me occasionally is, could the ECT arbitration outcome have an adverse effect on RKH's working relationship with ENI in Egypt?

Mogger, I think that just about proves that PMO & RKH know they're going to lose their licences, this IS a dead duck and they're recruiting a robust HR manager to handle the rioting when they disband that team of 60 we've been hearing about!!

Otherwise, great find.

Yes, those talking about an RKH takeover - it's not as though PMO won't be making a considerable amount from their existing share.
OK, like us, it's always nice to dream about having even more, but sometimes what you've already got is enough to be getting on with.

suresh, aren't you the guy who was distracting everyone over the EC funding that might not happen?

Tired of that one, now onto another distraction, this time RKH being taken out for tuppence ha'penny. I reckon if PMO tried that one, another bigger shark would loom out of the shadows and gobble us up for more than PMO can afford.

This is going ahead, despite the delays, so maybe we concentrate on that, without too many distractions?

'coz he says it's never going to happen, this is a dead duck and the sp is only going one way -> 12p, etc., etc., so don't ruin his day!

Don't tell the guy who uses the names Ralphy, Ollie, etc., as he might have a seizure!

Why are so many saying EC funding has been turned-down/won't happen/etc.?

There's absolutely no evidence for these assertions - or if there is, please produce it.

There IS evidence that it's going ahead, it's taking time but should be announced soon(ish).
FEED is now completed/known (which in the past would have created a bit of a buzz and an sp rise) and now Zama-1 full appraisal is awaited, without which PMO's financial position cannot be accurately established.
It seems inevitable that EC funding would await this key piece of information.

Then why mention something you're not prepared to disclose?

GS, I agree that it's difficult to know what reassurance one might expect, except that if we had a "Great Leader", he'd have found a way to issue a statement anticipating the disappointment that, yet again, an important deliverable hadn't been delivered, if only to give confidence that RKH management is "on the ball".

TGF, I like your questions and I wonder if we can't even jazz them up a bit more.
After the Eirik Raude drilling campaign, I had quite a long conversation about it, at an AGM, with Fiona. She was very bullish about what a success it had been. There was no point in having a stand-up argument and in any case, I don't know enough about such things not to have been fobbed-off, but to this day, I can't see how it was anything but a total waste of money. Also, the contract with Ocean Rig must have been like a sieve for them to have got away with it like that and at the time PMO/RKH saying that "that's how it goes", which has to be absolute bollox. No one in their right mind spends money at that rate for little/nothing and then just accepts it as "normal practice". Even if RKH BoD didn't negotiate the contract, surely they should have been involved to ensure it was water-tight at the rates being charged?

There does seem to be a silent complacency from the Salisbury office and now from 5 Welbeck Street, which needs to be challenged.

I would still like to hear what Nigoil recently heard that might delay FID/sanction further, even if they are just rumour.

Not sure I agree with Citizen TS's Customs Union correlation, but frankly, at the moment the sp might as well correlate with just about anything!

Anyway, what I was suggesting was that surely most of us are here for more-or-less the same reason(s), but mainly to try and make some money.
So perhaps we should try and pool our resources to come up with some really good points to raise at the AGM.

You're not going to get rid of Sam, so don't waste your energy on that and anyway, having got rid of him, who would you put in his place?

One of my gripes is RKH's dire communications with its shareholders and everyone else.
As we're all waiting for PMO's FID announcement, which only 7 months ago TD assured everyone that it would be by February 2019, I think RKH BoD might at least have offered some reassurance in addition to last week's final results.
Having met Sam, while he may be doing an excellent job back at the office, I don't rate his public performance, so either find someone to do that job better for him, or get some training.

I suggest we use our collective brain power to come up with a few really good points to raise at the next AGM.

But that's the Premier report, not RKH

Perhaps you could ask the question?
It would come better from the originator.

That's the sort of thing we're hoping to achieve under the "Ya Boo Sucks" thread.

Cheers carrot - seems like a plan.

I reckon we've got some good brains on this BB and If we're to get anywhere, we need to use them.

So Nigoil, tell us what those new concerns are.

Thanks

This BB has degenerated into a slanging forum, which probably isn't much use to anyone, other than teaching each other some new words!

Assuming that most of us are here for much the same reason, collectively we could probably do a bit better for each other than just shout.

I think Nigoil has slightly adjusted his position and he did mention in a post that there are now a couple of things that could indicate further delays, but he didn't say what they are. Maybe waiting for the outcome of the Argentine elections? If Macri is re-elected, things would probably be easier for everyone, at least for the 4 years of his new term of office.

Anyway, whatever the reasons are (and I think Nigoil should tell us what they are), I think we're all agreed that FID is likely to be delayed - don't forget it was TD who said it would be announced by February.

I don't agree with those who want to remove Sam, as they're just not going to achieve that, but maybe this BB could be used to share ideas for some very awkward questions at the AGM - OK, someone at RKH could be reading this and would be forewarned, but does that matter?
I think that some serious questions need to be answered about keeping shareholders informed.

Cheers and I know what you mean about some MCs, who overcharge and sell clients stuff they know they don't need, or want. But they're not all like that and some are very good, so don't tar them all with the same brush.
If you have a rubbish company/organisation with rubbish management (who don't know what they're doing), who then invite rubbish/predatory MCs to "help", then they all get what they deserve. If you have a shit-hot company/organisation with shit-hot management, who bring in shit-hot MCs to do a specific specialised job, then you really get results.