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Some relevant extracts:

Premier and Rockhopper tend to stick together performance wise although the former would tell you that it has many more strings to its bow than just Sea Lion. Having said that the Falklands may be crucial to RKH but for longer term developments it is almost as crucial to Premier. The best way to play it may be through RKH though and Premier is always being linked with fancy asset purchases it can’t afford.

With Serica replacing Faroe and Rockhopper giving exposure to Sea Lion I think it’s time for Premier to take a spell on the bench.

I'm not convinced we're going to have to wait until Q3/Q4 before FID is announced, but maybe after 29/3/2019, regarding the EC funding component, when the Brexit noise has subsided (even if only temporarily).

Remember last year, a couple of contractors announced they'd been engaged and more detail would be announced "in February", which is now.
Allowing for the usual slippage, I reckon worthwhile news is not far away.

Agreed Citizen - it's not as though there's some potential big cost hanging over RKH if we don't win - it's either nothing at all (i.e. as we are now), or a bonus, some time in the future.
Even if that turns out to be some way off, it's nothing to worry about, so I'd say this one can only be bland at worst, or good to very good.

Ollie & Ralphy are the same schizophrenic person, so drunk it can't remember which one it's supposed to be!

I think the Ralpy/Ollie phenomenon is someone with a drink problem as the more stupid/abusive posts seem to correspond with times of day when someone's had too much to drink, compounded by the fact that very often he/she/they haven't properly read the posts he/she/they're ranting about and then won't listen to reason.

Quite sad really.

IAm, have I posted something without realising it?

He probably hasn't given much, if anything, away, but that wasn't really my point.

The really key info that everyone's waiting for is FID and then sanction and TD said in a formal statement on 23/8/18, that FID would be announced in 3 to 6 months. That 6 months expires tomorrow.

As we’ve seen many times on this BB, many are confused about the difference between FID & sanction. So any statement, especially now, by a PMO manager, about FID, sanction or anything else should only be made in the correct manner to the correct audience and not by an unknown manager at an FPSO conference, which presumably PMO & RKH shareholders weren’t necessarily attending and would be unlikely to get to hear about presentation material.

One important and consistent point, however, is that no one is saying, or implying, that there’s any doubt about FID, or sanction. Even if it’s all taking time, it does seem to be going in only one direction.

Should a senior development manager be making, what amounts to share sensitive announcements at an FPSO conference at the very time TD said he'd be making the next announcement?

As someone posted on the ADVFN BB, it's strange that David Hartell (I've never heard of him before) should make such an important announcement (i.e. about FID timing) during the FPSO Europe Conference in London, when you'd think this is important enough for TD to announce as a formal statement.

Surely this is sensitive enough to warrant an RNS announcement and not just mentioned in passing at an FPSO conference, by someone we've never heard of?

There's something not quite right about this.

The $1.5 billion - $1.6 billion Sea Lion project off the Falkland Islands remains on track for sanctioning this year, operator Premier Oil said this week. During the FPSO Europe Conference in London, senior development manager, David Hartell said the company and its partners in the proposed development expect to announce a final investment decision by the end of 2019. Remaining on track, the first phase of Sea Lion will target 220 million barrels gross of oil in licence PL032, located north of the politically sensitive South Atlantic islands. According to Hartell, contractors are now in place for the first phase of the project, and FEED contracts have been awarded for all outstanding elements of the project scope. The field development plan has been agreed with the Falkland Islands government, and additional technological progress has been made through digitalisation solutions. According to Hartell, for remote projects, digital transformation is not a “nice to have” but “a must” for safety, reliability, operability, maintainability and value reasons. “Over the past year and a bit, we’ve been going through the define phase of our project… Our schedules, our procurement plans, identifying suppliers, completion plans…and working to make arrangements for such a remote location, logistics and infrastructure,?1; Hartell said. “We are currently working on our finance arrangement, and a fiscal regime has been agreed with the government. Finance being delivered, regulatory permits being delivered …we are working towards an FID by the end of the year. Our execution phase is coming up by the end of this year, with our selected contractors,” he said. BW Offshore is set to provide a floating production, storage and offloading vessel for Sea Lion.

Well, he certainly likes to talk.

The bloke couldn't even get the company names right, so hardly a compelling "expert"!

Mind you, whoever operated the smartphone was a real expert - sharp image with no shake and immaculate sound quality.

Yeah, the last time we saw this bollox, it was a man and woman sitting on, what looked like, the same couch!

After a bout 3 minutes, I'd dropped off!

And with Brent at over $67 right now AND I'm sure I've read that SL oil could command $5/bbl (or higher) more than Brent crude.

Yes, I agree about Zama-1 appraisal being a key component to FID, but it's just leaking, or announcing such important info in this way at a conference.

In view of what TD said on 23/8/18 about FID announcement in the next 3 to 6 months, now that we're in February and approaching the end of that 6 months, I'm slightly surprised that any such information should have been given at the FPSO Europe Conference in London, rather than by someone like TD in a formal announcement, which makes me wonder if David Hartell might have mixed-up his FIDs with his sanctions?
Probably not, but it does seem an unprofessional way of "leaking" such important information, or have I missed something?

Cheers Yanbu - you can only begin to imagine just how much is to be organised for such a project in a remote region, with not always friendly/reliable neighbours.

However, it also gives an idea of the prize, which is probably absolutely gigantic, if what we have heard about Isobel, Elaine, etc. turn out to be true, which seems likely, or even more.

Of course PMO will say that SL & Zama are unrelated - to say that they are will affect their negotiating position, to obtain the best price for Zama, but I think we can all agree that, in fact, SL & Zama are intimately linked.

To say that "PMO's finances are very much a side issue at most" is to disregard not an elephant in the room, but a bloody great mammoth.

PMO's debt mountain is determining how this goes and behind the scenes, I reckon TD probably has limited say/room for manoeuvre.

I was being slightly flippant when I said that PMO's debt pile could be to RKH's advantage, but there could be a grain of truth there I believe, because PMO really has to get on with paying down that debt pile, and is rather more at the mercy of external influences than a more solvent company would be.
It's also going to have to get a good price for Zama-1, which would be less of an issue if it was going to continue into production.

However, as far as RKH is concerned, it could be argued that because PMO has to get on with it, then that's good news for us. On the other hand, as PMO is so vulnerable to outside influences, dithering/nervous backers could delay things, while stalling for clarity (e.g. which way is the PoO likely to be at first oil and beyond).

As far as the EC funding is concerned, HMG has a HUGE interest in recouping it FI costs, so I don't see that not happening. The influence of Brexit is probably more to do with consuming Government resource than HMG getting cold feet.

All speculation, but sort of makes sense.

You could say that PMO’s debt is to our benefit, in that SL and the FI are PMO’s best prospect of regaining financial solvency quickly

Nigoil, regarding the idiots, this is what someone posted on the ADVFN BB:"Warren Buffett citing Benjamin Graham: "You’re neither right nor wrong because other people agree with you. You’re right because your facts are right and your reasoning is right—and that’s the only thing that makes you right. And if your facts and reasoning are right, you don’t have to worry about anybody else.""