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Ralph says: Navitas "have not put any meaningful funds into this yet as they do not have it".

So, all these guys have left their well-paid jobs and GT & Co. flying all over the place to do all this for nothing?
FIG diverting their already minimal resources to having meetings with these ne'er do wells?

Yeah, you really had me scratching my head there:- "Is it him, or me?" !!

Do we really need to know this M-D?

I'm going to the shops

I thought we already know that a refitted/modified used FPSO is what's going to be used.
The modification spec will need to be drawn-up with a contractor, who will need to get on with it immediately, if 2026/27 has any credibility.
So it's not just a matter of popping out to Wickes to buy the FPSO. And you're right about yards being booked-up for years, as well as the cost being too great, at least for getting SL started.

"I am quite sure this will never be 540p again"

Quite right, it'll shoot to £7, or even £10 - "just like that"!

Folks, just ignore M-D, he's like a wasp at a picnic, or as Daikihaku so beautifully put it, like herpes.

There's no RNS today, as some had hoped/expected, and no one is confirming M-D's fantasy about 1st oil in 2026, because as explained below, that's almost impossible to achieve, especially with no announcement about FID, Sanction, etc.
GT is the sort of guy who will announce something when he's good and ready and worth saying and NOT before.
Assuming he even knows about M-D referring to him as "The main man - Israeli Guy was strong & powerful in his speeches" and the 1st oil in 2026 announcement, he must be laughing at the stupidity of it and that we could have been so gullible.

Let's wait for the real RNS telling us what is actually happening.

Cheers!
SP recovery does wonders to everyone’s mood, which we all need.

Absolutely right - once observers see the potential of this and accept that fossil fuels are probably with us, perhaps indefinitely, then this will be through the roof long before 1st oil.
In case anyone doubts that, there's the small matter of the ICSID award, which I'm sure will be paid eventually. On that one, don't forget the tax liability on the 'loss of profits' bit, possible enforcement costs and the possibility that RKH may sell part of the award at a discount - it's still one hell of a big sum, even after all that, to be added directly to the sp.

Cheers SH!
First the presentation - what he says looks unbelievably good, and that's with oil at a mere $75.
It's certainly worth looking at this again as it summarises the situation at the gloomiest of times, with virtually all the problems/issues raised in the presentation now history, plus a significantly larger ICSID award than RT's top estimate.

Regarding 1st oil in 2026, I'm not saying it's impossible, but for those about to bet their shirts on this project, anticipating £5/share in 2026, just think about:
- when's FID scheduled to be announced? - we don't know.
- when's project sanction going to be announced? - we don't know.
- if 1st oil in 2026 is really Navitas' plan, that leaves absolutely nothing to chance. Everything is going to have to go 100% to plan (which will have to be a VERY tight plan). e.g. not only will the 2nd-hand FPSO have to be acquired, but the contracting yard will have to finish the modification work without any slippage, etc., etc..
- has any of us (except M-D, who we don't even know) heard Gideon Tadmor state publicly that this is what he, IR and his team are going to deliver? No we haven't.

For those who've never managed a project of this size, don't be seduced by the smooth words of someone on a bulletin board, who you don't even know, just because it's what you want to hear.

Time to revisit this presentation, where the PoO is taken as $75/barrel:
https://m.youtube.com/watch?v=9VY9Yh-qfRE

Many people here complained (and continue to do so) about the time taken by the tribunal over this claim.

One reason is probably because the tribunal doesn't sit all the time, but could only meet occasionally, but the main reason is probably because they had to follow and be seen to follow the correct procedure to the letter, so that they could never be accused of having failed to take account of all the annulment criteria.

I would agree on the principal - any corruption on the part of any tribunal member is highly undesirable and would taint the reputation of the Tribunal, but as has been said many times, if you dig deep enough for long enough, you'll eventually unearth something, even about your saintly granny!

I would have expected that any alleged 'corruption' would be confined to that applicable to the claim and its procedure, not just any old 'dirt' they can dig up from a member's past.

"To be honest why wouldn't it be true?"

I'm in very little doubt that RKH and the FI are going places - everyone involved stands to gain and no one is standing in the way.

However, what's the problem about challenging posts that are not entirely truthful and varnishing the facts?
Why do some here so relaxed about posts/reports that are at best inaccurate and at worst, downright misleading, or even worse?
I agree we should try and be polite, although sometimes that's difficult, but at least stick to the truth.

We now have confirmation about the visit to the FI (which we knew about anyway), but:
- there was no public meeting, as reported by M-D and all his extra chairs;
- I cannot see how 1st oil can happen in 2026, if the dates for FID and Sanction aren't known - that really is putting the cart before the horse.

When asked to explain, M-D can't, but whinges instead. It won't do and he knows it.

I come here for discussion and facts, not fantasy and fiction and some trying to make themselves appear important.

"He also confirmed he has just returned from the FI along with a large Navitas contingent including Gideon."
In that case kr2009, I'd have expected M-D to have known and remembered who was addressing him at that meeting last week.

I thought you and I (UK tax payers) are providing those already?

M-D, as you insist on continuing here, why not make yourself useful.

I assume your FI contact hasn't just evapourated, so why not ask him/her for more detail, so we can benefit:
- who was the strong Israeli guy, who made such a confident speech?
- I can't imagine he stated 1st oil in 2026 without some reference to FID and Project Sanction, as these dates would be very important to FI residents - just think of the job opportunities. So, when did he say he expected FID and Sanction?
- I expect he would have given some ideas about job opportunities and local recruitment, to be able to produce oil in 2026. So, what did he say about that?
- What did he say about FI revenue expectations, as the Islanders have been debating what to do about increasing revenues, including industrial salmon farming, which almost everyone has rejected. So, did this Strong Israeli guy have anything to say about what oil production would do for the island finances - surely he didn't forget to mention such an important point, when trying to win everyone's support for the SL project?

Go away M-D, just as you promised you would - you've been rumbled.

Thanks for the comments Orbit and Daikihaku - good to hear some sensible people out there, who see things as they really are.

Thanks Mam - something went a bit wrong with the text formatting, so apologies for the errors, but something needed to be posted quickly about those who are trying to mislead us and then getting stroppy because they've been found out.