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DL, what ARE you waffling about now?

Do try and keep up with the adults.

"Its just talk bigged up by tabloid press"

Possibly, but I think it's more a case of Milei making sure he'd covered all electorate bases to ensure that as many as possible voted for him.

To have omitted the "Las Malvinas" cry, he stood to lose quite a few votes, even if other matters are more pressing right now.

Do you mean the bit about 'el Loco' (the Madman), brandishing a chain saw?

With a new president of Argentina like that, I reckon the Argentineans have a lot more to worry about.

Absolutely - Milei has only got 4 years before they try someone else. He'll be electioneering before he's done anything worthwhile.

Argentina try-on new presidents the way the Mrs tries new shoes (although I wish she would wait 4 years, instead of 4 weeks).

Definitely, but please wear gloves

DL, it must be a nice feeling to be the only one on the planet never to have made a mistake, so can sit in smug judgement over us all.

Hang on - isn't that God? Oh yes, so that's why you also call yourself Godders?

Not sure how one is supposed to address God. Would 'Your Magnificentness' do, Your Magnificence?

No, that's also incorrect - you seem to have an unhealthy intent to malign Sam.

Sam may not be perfect, but he deserves respect for what he has achieved against the strongest of head winds.

Rockhopper was created by Richard Visick, Sam Moody and Pierre Jungels as chairman (who was the only one with any oil industry experience).

It was not a case that "Sam took on board directors that he couldn’t control". In fact, it looks to me that Sam DID take control by replacing Jungels.

Whatever the precise actions, Sam has managed to keep the company afloat, despite exceptional odds, so maybe cut the guy a bit of slack and acknowledge what has been achieved.

" Sam told us we would be FTSE100 soon"

I really have to correct that - Sam never said anything of the sort. To have done so would have been as incredible as your posting and would have undermined any credibility he might have had.

It was PJ who was much more interested in getting 'promoted' to a senior Index (more like the FTSE250 than the 100), rather than concentrating on getting SL into production. Their divergence of focus may be why PJ left around that time.

I believe that Sam was less obsessed by this, believing that if RKH did well in developing the FI Region, that might eventually lead to re-listing on the FTSE250.

But he NEVER ' told us we would be FTSE100 soon '.

Godders/DL, I refer you to my post on 13/11/23 at 22:45hrs, which only scratches the surface of this endless saga. All of that, and more, is largely why so many remain so sceptical about SL.

I can tell you that even the so-called 'rampers' (most of whom aren't rampers, but perhaps just a little too optimistic) are fed up with the never ending wait, but as my post explains, there's been one hell of a lot to getting SL over the line, which most of us wouldn't have a clue where to start.

I believe Ian Ramsay knows what he's doing and has got the best chance, with Navitas of getting us there.

Your constant 'are we nearly there?' and 'why aren't we nearly there?', etc., etc. doesn't help.

You don't appear to have done much/any deep research, otherwise you might be more inclined to discuss the issues (which are many and complex) instead of only whingeing.

The World's need for oil continues, despite all of the reasons for stopping oil exploration & production.

We haven't run out of cash and there's no sign of that happening at the moment. As for Sam, he may have made mistakes, but there are plenty of others who deserve far more criticism.

Baldmark, that's a bit of a silly post, showing how little you understand about this particular process.

Agreed it takes a long time, but who cares about that if one's accruing interest at about £1.5/month?

I'd do a bit of homework, if I were you, before making your next post about this.

Just to add: I guess RoI looked at this miserable tale and quite reasonably concluded that RKH would go bust before ICSID had dealt with all their objections (including their annulment request) and SL wasn't looking very promising either. So, RoI probably calculated they could risk the notional £1.5 Million/month interest accumulating, because they reckoned they'd never have to pay it.

Not sure I agree.

I think you may have forgotten that there was a period when SL really did look like becoming a stranded asset.

The only FI infrastructure in place looked like it might become an unaffordable decommissioning liability for RKH.

In such a remote location with a seriously hostile neighbour effectively frightening-off all but the most resilient potential partners, who were virtually shown off the islands by the then FIG CE.

FIG apathetic, at best, about all the fuss and bother developing SL would involve, plus the threat to local eco-systems, when the fishing revenue and tourism looked to be enough to support the more modest lifestyle that, at least, older islanders would have been prepared to tolerate.

RKH was selling-off its assets to raise cash, but if something didn't happen pretty soon, there would have been nothing left to sell, no revenue any more and absolutely no sign of any OM award.

Tony Durrant promising jam in 6 months, etc., but no jam ever materialised as PMO struggled to put a workable project together, which became more and more apparent as PMO's debt-mountain ballooned.

My recollection is that things were looking increasingly dire as World momentum against fossil fuel accelerated, making the FI an even more unlikely new oil region.

An for those like DL/Godders, I don't think that even the most super-optimistic person would have posted here, at that time, that RKH was a great investment opportunity and all that (plus a lot more) explains why so few believe it's going to happen now.

Agreed - in the case of RKH, I reckon the RoI had assumed RKH would have collapsed long before ICSID had reached a decision, which they nearly did.

"We went down to 4pence from 5 pounds" - if that's what happened to you, then you really must be an idiot and you deserve to lose the lot.

First, why the plural DL?

Second, please provide the quote when I posted "what a great investment this is".

Finally, "My point is every day we hold RKH we lose money". In which case you're an idiot , sell-up and go away instead of bleating here every day, or do you believe your incessant moaning/bleating will make the sp rise?

Good post AC and I would add a couple of points:

For those who seem to enjoy adding more worry to the SL story, hasn't it crossed your mind that PMO and then Navitas might just have known about this? It's not as though they are buying a dodgy second-hand car, which has been clocked and the engine doesn't work and they're not being told about it. The waxy oil is completely known and understood.

Second, the oil is very low sulphur, which is a very important plus, but the 'wax oil peddlers' somehow forgot to mention that.

You’d think that such a sophisticated investor, who constantly corrects us, would know it’s not a rights issue

I agree with all of that.

Yes, I was about to ask the same thing.

Godders, are you sure you understand what you're posting about?

GodLeaverage, please answer the question: tell us who has so far paid "to complete FEED 4 times" for SL?