RE: A Question of Provenance5 Mar 2023 18:20
I'm just asking perfectly legitimate questions, which all-of-a-sudden you don't seem to want to answer.
First, who was 'The main man - Israeli Guy'? Surely, if you attended a meeting like this, you'd know who had been speaking, especially if it was Gideon Tadmor, the chairman of Navitas? If it was GT, that's pretty high level stuff to go all the way to the FI, and I'd expect to have seen at least one report about it in Mercopress / Penguin News by now (who have already reported the ending of the 2016 cooperation pact, announced here on Thursday).
Regarding "first oil in 2026", that's quite a challenge, especially as M-D's post says that "They said they intend to be in the Falkland to commence the project NEXT YEAR". That makes it less than 3 years from project start to 1st oil in a remote location 8,000 miles away, with no infrastructure and not much, if any, local support. In fact, since the recent announcement, Argentina has now returned to being unfriendly, so no help from there.
As I said before, there's no FPSO yet. As that's going to be a used one, it has to be identified and acquired. Then the modification specification (for SL oil production) and contract has to be agreed with a contractor and the modification work scheduled to be ready for testing before 2026, plus all the other things and more, which I listed before.
If you really think about it, confidently and suddenly announcing 1st oil in 2026 seems a bit reckless, especially from a company that has studiously avoided making many announcements so far, unless absolutely necessary.
Don't you think that might have deserved a mention in Mercopress / Penguin News?
While I really want to believe this story, I find it somewhat incredible, perhaps told by someone who wasn't there?
We know there was to be a joint RKH / Navitas visit to the FI at the end of Feb, beginning March, so that bit's probably true, but it was to be Sam from RKH and Ian Ramsay from Navitas, not GT himself, announcing when 1st Oil would be, when we don't even know when FID will be announced.
When I initially read DEM's posting from early yesterday, I thought it a bit harsh, but I now think he's probably right.
On the strength of M-D's posting, some may well rush out and buy RKH shares, thinking that as 1st oil is only 3 to 4 years away, these shares are going to be perhaps as much as a few quid by then.
I'm confident things are looking up, but not quite as fast as M-D claims.
'Bully?' - I think not. Just asking sensible questions.
If there is any bullying going on here, I suggest it's those trying to shut me up by shouting their usual stuff at me.