Member Info for Ovets

Depends what you mean by 'out of RKH hands'.

Of course the process is out of RKH, K&S and Harbour's hands. Remember when K&S had the cheek to ask how things were progressing and were told by the tribunal to 'watch it, or else'?

But it's not out of RKH's hands to decide whether to accept an offer to sell all/part of the award, or soldier-on to the end.

Nor is it out of RKH's hands to decide what other actions to follow, with the advice of K&S, of course.

Don't know if you've ever taken someone to the County Court, Ephemeral, but it's a bit like that. Of course you don't have control over the judge (well, hopefully not), but you do have control over your own decisions.

As I've posted numerous times, Italy are going to pay in the end and it's a tribute to Sam and the RKH BoD, K&S and Harbour to have cornered these buggers in the way they have.

Anyone who has vilified Sam and the Bod has completely failed to see what a challenge this must have been and remains.

Those who moan about the slothful ICSID process have completely missed the point that any other legal process to recover damages for the OM disgrace would have ended in complete failure - just imagine taking this claim through the Italian Courts.

Italy was pretty sure RKH would go bust with partners like PMO spending a fortune on making such a mess of things.

I'm sure Sam regrets getting involved with the Italians and OM in particular, but at the time it probably appeared quite a reasonable idea, especially as RKH was attempting to widen its remit.

I bet Sam has had many sleepless nights as he watched everything turn to dust around him, with diminishing prospects of success.

BUT, he has kept going and the dust is starting to turn around

If nothing else, Sam has learnt the lesson of keeping focused on the objective and not getting side-tracked. I suspect that's why we haven't seen any RKH interest shown in ARG.L, or BOR.L, so that no one (including Mrs Moody) can accuse him of going off at yet another tangent.

Once SL is in production, Sam and the BoD will be able to buy all the toys they could dream of.

M-D, looks as though I hit the bullseye

M-D is just one of those narcissists who has to be centre of attention.

They constantly have to impress everyone by claiming to know things that none of the rest of us knows and dispense a mixture of truths (which most of us know anyway), rumour, guess work and downright fantasy, which the gullible swallow with wide-eyed admiration.

The rest of us sigh: 'Oh gawd, not M-D again'.

"£1 or, could be as high as £2 once the oil is flowing from the north basin"

I sincerely hope you're not going to claim that as your very own prediction.

That's a bit like saying that after 1st oil, oil will flow from SL.

No The-Bear, that isn't what I posted, so don't try and discredit my posts with misquotes / interpretation.

I'm all too aware of historic, natural climate change, which has been going on since day 1.

However, what some of you seem to want to ignore are the >8 Billion humans who are adding to any natural effect, which simply cannot be ignored.

As far as I'm concerned, I'm going to enjoy the few years I have left. Me switching-off the occasional light and not flying on holiday isn't going to save the planet, so you can be sure I'm intending to have as good a time as possible.

The point being missed by those who seem intent on arguing about anything, including the bleedin' obvious, is that fossil fuels have a long future and SL is going ahead whatever you say and whatever you believe to be responsible for climate change.

I'm talking about what we're experiencing now, not centuries, or millennia ago.

By all means disagree - that's 'discussion'.

However, climate change isn't a hoax, it's very real, as I've been studying it for decades.

What's causing it is debatable and natural phenomena are a part, but the main cause is too many selfish, greedy humans living lives which the planet can't support.

I posted a piece several years ago about how the 'experts' had got their sums wrong and no amount of cutting back of energy consumption would be able to stop the inevitable climate change.

There are just too many of us, most of whom have no intention of changing their ways (just look at the grotesque size and specification of the latest cars by comparison with a few years ago, the growing litter mountains, etc.) and there is no alternative ready enough to replace the use of fossil fuels, should anyone contemplate 'switching that off'.

Should anyone try that, the World economy would collapse with accompanying civil unrest along with anything caused by climate change.

My conclusion then was that fossil fuels are here to stay for much longer than anyone might think sensible, but that's the reality folks.

If anything, that conclusion is stronger now, as we see the chaotic implementation of the flawed renewable policies already beginning to unravel.

New UK wind and solar farms can't connect to the National Grid, perhaps for as much as 10 to 15 years in some cases, so the whole thing is a complete shambles.

In the mean time, we continue to fiddle while the World (including Rome) burns and SL will not just go ahead, but will actually be needed, however incorrect that may be to some.

Funny how so many refer to that £5+ sp.

That was just an instant of euphoria, not a sustained sp over several weeks.

If that really is your benchmark sp, then you must be the biggest wally here.

So a €300 Million ICSID award, which is being meticulously and energetically pursued isn't enough for you?

So getting Navitas aboard, who are now energetically working to SL FID / Sanction, etc. isn't enough for you.

Maybe your gripe is that Navitas doesn't hold a press conference every other day to tell you that they have just dotted another I, or crossed another T, on their way to First Oil?

I'm sure they'd love your helpful suggestions, so why don't you give Gideon a call and ask him how much he's paid and why he isn't updating you every day. He might agree to give you his personal contact details.

CJ1986, so you're another who wants the RKH management team to work for nothing?

Do you have any candidates in mind, prepared to do this?

'I don't care' and 'It is after all your choice to be a lapdog of Sam'.

Latics, a petulant reply like that only reinforces your immaturity.

It isn't Sam's decision what happens regarding SL and as we can all see, he's done an amazing job (with quite a bit of help) to with the ECT claim, having obtained an award that no one thought possible PLUS interest.

Just go away.

For posters who, I assume, wish to be taken seriously, please try to make sensible posts.

You should know that Navitas are now making the decisions, apart from the OM arbitration outcome and for that one, Sam has so far done a stellar job.

Aim your silly negative posts at Navitas please.

FPSO LoI would seem a logical next step

"So Ovets you agree with me No FID , NO OM monies next year?"

There is no reason to conflate these issues.

Assuming that the SL project continues as it is, FID will definitely happen in 2024 and possibly even before the end of 2023, although that's being optimistic.

There is currently no evidence that Navitas might change their mind and Israel has even more reason than most to want this to go ahead. They couldn't give a flying fig about climate change, by comparison with their long-term energy needs.

As for OM money, that's a totally different and unrelated matter, so should not be used to confuse people, except that RKH might decide to sell part, or all of the award.

I can see this saga going on for some time, but with every step in the right direction (e.g. lifting of the enforcement stay), the award becomes increasingly attractive to potential buyers, with a corresponding reduction in the sale discount. RKH might prefer to sell the award in order to save having to raise funds. I'm pretty sure Sam would prefer to receive the full award and Harbour may have something to say about it being sold at a discount.

So I think your black & white view is unduly pessimistic and like everything in this World, shades of grey are more realistic.

I'd add one more thing: Putin's invasion of Ukraine came as a real surprise to most observers and certainly increased the chances for SL.

Who's to say that something else might happen, which will affect the outcome of all this, either positively, or negatively.

To make statements like "So Ovets you agree with me No FID , NO OM monies next year?" in this crazy World is in itself crazy.

Anyone with any legal experience knows that having to resort to taking anyone to Court, or in this case to a tribunal, is going to be an uphill struggle. The sort of people you have to take to Court are usually the ones who don't want to pay-up and the Italian State must be one of the worst.

Anyone who knows anything about the Italian State knows that while Italians can be charming and their pasta and puddings great, they'll wriggle like hell to avoid having to answer to a claim and even when they've been found guilty, or in this case, lose the claim, they'll continue to wriggle until they are forced into a corner and even then, they'll continue to wriggle.

1. RKH, K&S and Harbour all knew this BEFORE embarking on their ECT claim route. They knew that if they ever got an award, it would probably take enforcement to obtain the money. I bet that none of them ever thought they'd get an award of the magnitude they have and I suspect part of the reason for the large award is because RoI got up the tribunal members' noses by their incessant game playing.

2. If you didn't / don't understand that, then you're wasting our time with your waffle about how long this is going to take, which we all knew yonks ago.

" As evidenced by them getting away with ignoring the edict to place the money in an escrow account".

I think the Ad Hoc committee asked them to reach an agreement with RKH, which they failed to do, NOT "to place the money in an escrow account", although that would have been the likely outcome.

Try to get your 'facts' accurate please.

The market "may not believe it" yet and you may not believe it yet, but to use that logic to say that over the last 10 years there hasn't been any change is like saying I've been fast asleep with my eyes closed for 10 years and therefore nothing in the World has changed in that time.

"weather changes and it’s not changed that much at all and we are not under water".

That's probably true for someone who's reasonably well-off living up a hill (away from flooding) in comfortable Harrogate, or some other pleasant leafy place, but I suggest you say the same thing to someone currently experiencing nearly 50 degrees C for several weeks, or where sea levels have already risen and continue to rise.

You'd be told to go back to Harrogate and take your arrogance back there with you.