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GS, you didn't mention that any percentage of any award to the lawyers is capped.

On this one, Ralphy, we completely agree.
With Italian governments notoriously corrupt and dishonest, that is one of the main reasons why the ECT route was taken.
Everything you say about Italians trying to evade paying, or even trying to avoid engaging in the first place would have happened had the claim been pursued in the Italian courts. It would have dragged on for ever and never have been paid.

I don't believe anyone has said that even an ECT judgement in RKH's favour would necessarily be settled quickly, or easily, but it offers a far greater chance of success than any other.

Much of the stuff written below is OK, but liberally peppered with supposition and guesswork. For example, lots written about the potential 50% judgement reduction, if RKH can be shown not to have carried out adequate due diligence, but then the same writers go on to admit that no one outside the claim process actually knows if that applies in RKH's case, as it's confidential.

What I've been saying from the start is that there's MASSIVE potential here, but no one should bank on it until the judgement has been made public. Even then, any money can't be assumed until it's been received by RKH.
I'd be interested to hear what an accountant has to say about such a judgement and how it should be shown on the balance sheet before it's been paid.

Seizing Italian assets in the UK would be an expensive and lengthy process. However, as someone else posted, that would serve as a warning to the Italian government that this will get paid eventually, so might as well pay-up sooner than later.
However, I do share the view that recovering a debt of the magnitude envisaged, would be quite a challenge, especially from a debtor that is notoriously corrupt, dishonest and doesn't want to pay.

That's why it isn't shown in the sp.

I forgot GnomeBrain, who bought at 539p

WHERE ARE YOU?

CarrotNibbler:

WHERE ARE YOU?

GnomeBrain, you answered your own question in your 10/12/18 post:
"I don't envisage many oil stocks shooting to the skies anymore simply because the market is pricing in zero oil for the future , electric cars , reducing the use of plastics etc. I will reduce and be done with oil stocks asap , i certainly wouldn't add ....at any price".

So why are you asking us?
You can't blame Sam, if the market's decided that oil is a dead duck and you can't come here, blaming us either - after all, aren't you the one who said you'd bought at 539? If so, then the only one to blame for your pain is YOU for getting it so wrong, so bugger off and bother somebody else, before mummy gives you something useful to do.

I must say, that if one really did sell-up, and therefore have no further interest in this company any more, one would have to be particularly stupid to waste time posting messages here telling us just what an idiot you had been.

Thanks GaryNoBrain, you're certainly lining yourself up for inclusion in next week's Idiotic quotes feature - at this rate you might even top the bill!

Ollie, on 2/1/19 after the sp rose by 1.9p to close at 22.75p: ".......we all knew it would fizzle out as normal and it is, you idiot"
Well Ollie, today it's 23.45p, so who's the idiot now?

Ollie: "piece of shit right to the end, which I believe is in sight now"

Godders, after the 3/1/19 RNS: RKH's "Cash running out" - funny that everyone else is reporting a strong and strengthening balance sheet.

Godders, after the 3/1/19 RNS: said that FID has "...been kicked back another year", before going on to say that the RNS update didn't actually say that!

Ralphy: "FID deadline given has passed, they have failed, yet again".

Kurgy: "Today's quote pile of crap", "Oh yeah forgot .dog crap", "Dog crap", "Dog crap"

Well, it makes very good sense that the demands of Brexit are consuming more of the available government "bandwidth" than anyone could have imagined on 24/6/16, so things like this ARE likely to be delayed.

As for FID deadline, it HASN'T passed, so WRONG AGAIN Ralphy.

You really are going to have to pay more attention and try a bit harder to get your posts right

"i have looked in you wifes"

Eh?

That was illuminating Ollie!

and no, people didn't know it would fizzle out, as no one knew there'd necessarily be an RNS this morning and if there was, no one knew what it would be about.

So slither back into your cheese and leave the grown ups in peace.

so, as usual Ollie, what's your point?

Like I said, it's just a bloody update, no more, no less, so what else were you expecting?
Santa coming down your chimney to say he's so impressed by your posts, he's going to make you RKH CEO?

pauldrayton, I'm not saying I'm overjoyed by this RNS, but equally, it isn't that bad either, as it's merely an update statement, not some big announcement.
You said that it's a "pathetic communication", but I suspect it's very carefully worded.
What I consider to be "pathetic" is for posters here to deliberately mislead/distort by saying such things as FID has been postponed for a year, or that the company's suddenly running out of money. They should be made to quote where that was said from today's RNS statement.

All that does is to cause unnecessary disquiet, particularly with those who haven't been paying attention.

I think this RNS points to there being completely justified caution at a time, when to have made a more up-beat announcement would only have held our BoD open to scrutiny in a few weeks/months' time.

In all, it's just an update statement, which the usual idiots have seized to make their usual inane and un-substantiated points.

Instead of criticising this announcement, I think we should be holding the usual idiots to substantiate their posts with facts/quotes from the RNS, supporting what they're saying.
Did you notice, yesterday when the sp rose by 1.9p, the usual idiots were suddenly unusually silent?

If you thought/hoped that FID, or even SL sanction was going to be announced today, then I can understand your disappointment, except to say that anyone expecting to hear that today hasn't been paying attention.
Bearing in mind that PMO will be the ones to decide/announce FID, I can't find a single word in today's RNS to support the rantings of the usual moaners - what the hell were you expecting?
OK, we'd all like to have been told that we're off to the races today, but that was never going to happen, so why all the wailing and aggro? We all know that TD said on 23/8/18 that FID would be in 3 to 6 months and those who have been paying attention also know that a number of contractors have been alluding to February for something to be announced, which all ties-in with 6 months from 23/8/18 - also, in August 2018, the PoO was at about $75, so TD and everyone else would have been looking at things very differently to how they are now, which has absolutely nothing to do with them, or the RKH BoD.

Extending LOIs for up to a year doesn't even begin to suggest that FID has been postponed for a year, so where's the bit that says FID has been postponed for a year?
However, with the uncertainty about PoO right now, I'm sure TD and the PMO BoD will be very preoccupied about the future and whether it's worth investing so much in the FI region, or as Keith Padgett warned in his leaving speech, just leaving the oil where it is.

As for the rest, it's all very much as anyone who has been following progress, would have expected.

So what's all the fuss about?

or the oil?

And while we're at it, Ralphy, I can't remember which of you oiks posted it, but when this BB was discussing FID and when it might be announced, you, or one of your oiky chums, heckled us for being so stupid as to waste time discussing FID, when it's sanction we should be thinking about.

I'll see if I can find it, but as usual, as well as the usual abuse from you and your chums, you seem to believe you can just reverse your opinion and presumably hope we won't notice?

No Ralphy, I think you'll find that we all agreed that there'd be no FID this side of the New Year, so DON'T take credit for something that we all knew.
In fact I remember reminding the impatient on this BB that TD had said on 23/8/2018 that FID would be in the next 3 to 6 months, so be a good chap and slither back into your cheese.

As for Kurgy, what have you got against "man's best friend"? If you must be so childish, how about "Kurgy Crap"?

Clearly the markets value RKH @ 21p right now, especially as no great announcement is expected at the next market opening, but then, just about everything else is written-down at the moment.
As for the ECT claim, until the date approaches and there's more informed discussion, how would anyone reach an acceptable figure, which could legitimately be included in the sp, considering the current PoO, but with OPEC+ cuts anticipated in January, but no one sure what they'll be in practice, etc?
The answer to that is that no one in their right mind would even attempt it, so RKH sp languishes at 21p for the time being.

As we've discussed here many times, the ECT route was followed because it gives RKH the best chance of success in:
- winning the claim, in view of the known problems using the Italian legal system;
- getting a very good award including possible loss of profits;
- ability to enforce any award/judgement in the UK by seizing Italian assets in the UK.

However, even then, it's still a bit of a gamble until the award is given, which is why it's not reflected in the sp. If no award is given to RKH, that'll be it.
RKH's lawyers are so confident that they're offering their very competent services on a no-win-no-fee basis. If RKH wins, their costs are capped at €35M (I think - you can look that up) - they're certainly capped, so whatever's left is ours.
If we lose, then no one gets anything - RKH's lawyers would have to bear their own costs.

This document is written from an anti-ECT perspective, and uses the RKH claim as an example of how unfair it is. As an environmentalist, I completely agree with its sentiments, but as a RKH shareholder, I'm very encouraged by what it says:
https://www.tni.org/files/publication-downloads/one_treaty_to_ruled_them_all.pdf

So there you are - nothing's definite 'till the fat lady sings, but as an occasional gambler, I'd put a few quid on this as a winner - pity there isn't an "each way" option!

Merry Christmas

Look chum, the markets aren't going to include in the sp an award that hasn't even been given yet.

I'll try and credit you with some seasonal goodwill, buy you could try and post sensible comments.