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To be precise, the article doesn't say "Strong Sell", but "Sell", which is quite an important difference.
If you are going to "quote" from articles, please try and make them accurate, thereby saving me having to post this.

This is what it says:
"There's a sense of déjà vu to Rockhopper Exploration's (RKH) preliminary results. Although cash flow from Egyptian production again covered general and administrative costs in 2018, another year has passed without sanction of the Sea Lion project.
However, with 12 months left before the discovery area licence expires, Rockhopper and operator Premier Oil are only just submitting their application for formal senior debt funding, and have pushed back a "project sanction decision" target until the end of 2019. One potential source of cash - as positive result from the Ombrina Mare arbitration with Italy - is unlikely to arrive until the autumn,
Although the arbitration provides an interesting share price catalyst, we think the pendulum has swung against Sea Lion, and so cash out of our speculative call. Sell at 26.4p".

carrot, if all you can refer to trousers and pants, then you're sick and confirm what I posted earlier.
Please post something worthwhile.

carrot, it's "maths", please write in decent English.
Thanks

Hello Ollie - back again to poor cold water on things? That's the only time you show-up.
Thanks to the likes of you and your posts, I've increased my winnings many-fold, so keep it up!

Yes, valid points BD, but I'm not sure I agree.
This is quite an unusual project (not for the oil industry, but for projects in general) that relies entirely on the value of one commodity, whose long-term future is in doubt, experiences the occasional "wobble" (like at the end of 2018) and concerns about what it might be in several years' time.
Considering the mind-blowing sums needed, with a company already over-indebted, that must have an influence on decision makers.
The remoteness of the FI isn't at all irrelevant - in fact it's probably at the centre of it, as there's no infrastructure worth talking about in the FI, the nearest neighbour is potentially very hostile with elections at the end of this year, so not much help from there at the moment and even if there was, would you want to rely on it?
Little additional nails in the coffin, such as the cock-up with the St Helena airport, depriving the FI with a much needed friendly airport in the right direction don't help either.
Don't know how your little rant about management consultants is relevant - explain please. I wasn't refering to MCs, but to the general poor quality project management I've seen/experienced and I hope that PMO have recruited good staff in their alleged team of 60.

Yes, he's "adjusted" his timetable when he thought we weren't looking (at lunch)!

I've been working on a project with a government department for several years, which should and could have been implemented by now.
It's definitely going to happen - there's absolutely no doubt about it as it's a legal requirement, but you cannot imagine the stupid issues that get in the way of progress, including incompetent staff, staff churn, terrible management, budget issues in a time of austerity, idiotic errors and lack of attention to detail, etc..
It's nothing like the scale of the PMO/RKH/SL project and not in a remote region on the other side of the World.

With RKH & SL, when things were just starting to look good, the value of the very commodity underpinning everything plummeted to below $30, putting the skids under it all, especially where the main contractor looked as though it would collapse under the weight of its debt mountain, not to mention the distractions of Eirik Raude!

In my case, we have government funding underpinning an essential project, so we know it will be delivered - eventually. That's why, for PMO/RKH the Export Credit funding is so important, not just for the money itself, but to reassure other potential funding participants to join in.

So be prepared for delays - those who keep highlighting them merely demonstrate that they've never been involved in a massive project and all its complexities.
Instead, what they should be doing is marvel at the tenacity of the likes of TD, who just keep going to deliver a successful project out of this nightmare.
That they continue to do so underlines the potential value of the FI as a oil/gas production region - don't forget it.

Last day of the FY, so not a good one as the basis for predictions.

Carrot, you do like publicising what a clown you are.

While we were buying at 22p and selling yesterday @ 28p (not bad eh?), you were the one banging on about "preserving precious cash".

Most of our profits were in our tax-free ISAs, but the rest were also tax-free as we made the most of our CGT allowances on the penultimate day of the FY (not bad eh?), while you were the one who kept on about preserving precious cash and casting doubt that the ones making money were actually doing so (perhaps because you weren't?).

So we know you're not trading the fluctuations (you tell everyone to preserve their precious cash), so what ARE you doing?
The only explanation is that you bought in too high, and probably don't have any of that precious spare cash left to preserve anyway, because otherwise you'd be joining in, rather than sitting on your hands moaning and poking fun at those who are making money.

So remember carrot, every time you post your rubbish, you're broadcasting to the rest of us:
"Hello everyone, it's me the carrot again, just to remind you all that I'm the clown who's made a complete cock-up of my RKH investments. I don't know what I'm doing, so instead stand on the touch line and shout at everyone else, who's busy getting on with playing the game. I tell everyone to preserve their precious cash, but I haven't any left, so all I can do is watch and shout".

Oh no carrot, been at this game far too long, so bagged some profit this morning @ 28p, encouraged by the FY Y/E, otherwise I wouldn't have referred to "profit" would I.

Surely counting "profit" has to be better than just counting your cash - that's why we're here isn't it?

Common, you're going to have to do better than that if you want to throw stones at others.

There’s no point in wasting time reasoning with the unreasonable. Leave them to “count their cash” while we count our profits

Don't waste time trying to reason with the unreasonable.

Think you've made your point Muzzle!

In addition to yesterday's RNS, could there be another one from PMO tomorrow? Thursday is often their day and someone's had a preview?

The missed deadlines I was referring to were more to do with the project generally, rather than the ECT claim, which so far has kept to the published schedule.
However, the decision announcement date is perhaps more variable, so that's where the BoD may have learnt from the litany of missed deadlines and disappointments.

Well, I've dug out my old top hat and will test it on Saturday for the Grand National, but I don't think I'll be buying a new one just yet!

Maybe, after so many missed promised deadlines, at last someone's playing it safe this time and not making any more rash promises, for announcing the tribunal's decision, within the theoretical maximum period?

Yes, and Fiona maintained to the bitter end that Eirik Raude, and everything associated with it, was really great!

Carrot, please explain your comment: "Shall we please not belittle each other as people".

Not sure I understand you carrot - are you suggesting I bought during the fall from 44+p back to 22p?