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Godders, RKH hasn't exactly been the dynamic story that many had hoped / expected, but you're forgetting a great deal of events and detail, especially since the oil price collapse in 2014 and then PMO's inability to manage this, before getting into such debt that it couldn't survive any more.
With US fracking and then COP26 and all that, it looked certain the World's undeveloped oil fields could become stranded assets.
From all that chaos, RKH is still here and now looks well set to develop SL with a great new partner, who many here ridiculed as being an unknown waste of time.

RKH has raised new funding and won an ICSID award greater than anyone (including RKH, I would guess) could have dreamt of and Navitas has now signed-up as operator, with a really A1 project director selected and you still whinge.

If you had just signed-up to such a massive project, wouldn't you think it sensible to run your eye over all PMO's numbers? I certainly would. While PMO's work is valuable to RKH, it's also highly suspect, so Navitas are 100% right to be checking it out and hopefully improving it, which takes time if they're going to get it right, in order to raise considerable funding.
If I were you, I'd stop whingeing and be greatly reassured that at long lost, we have a competent partner, who this time is doing it properly.

Mirasol, adding to that, in future, those making the decisions in the FI are going to change - OK, the changeover may be slow, but decision makers will increasingly become the product of a new, different and more affluent population.

I would still expect them to have rather less grand aspirations than, say, those living in the Dubai, for a variety of reasons.

Once they can afford to upgrade the Islands' infrastructure to virtually the best that's available, including reliable renewable energy supplies, the latest communications (currently there's not even a mobile phone network), etc., etc., then those decision makers may view the FI very differently to those making the decisions today.

To state with any confidence that " A vast increase in business and any LNG or refinery operation will never be allowed" is to assume that decision makers in 10 years' time will be the same people that are making the decisions today.

Mirasol, once again making uninformed, inaccurate statements, presumably to be 'interesting'.

I suggest you listen to / watch the MLA candidate interviews for the 2021 FI elections, when they all spoke about their concerns and what they'd do if elected.
They gave a greater insight into the FI than is normally available. The constant theme was anxiety about the out-dated and dilapidated island infrastructure. Frozen inadequate pensions. Concerns about climate change reducing the abundant fishing catch and affecting their previously reliable fresh water supply. Out-dated telecommunications, which need serious updating, power cuts from ageing diesel generators. Not enough money for improved medical care for an ageing population. Inadequate affordable housing, especially for young, first-time buyers. In ability to attract and retain education staff to educate Islanders to 21st century expectations, causing many young Islanders to seek education and job opportunities overseas, with many deciding not to return. Etc., etc..
At the bottom of it all was insufficient funds to bring the Islands up to a modest, sustainable and reliable 21st century standard.

I would agree that F Islanders don't live there for a riotous high life (with Fast living, Fizz and Ferraris), but they do want financial security to be able to pay for a modest, but secure 21st century life, rather than living in a 1950s time-warp, where the younger members of the community can see what opportunities there are overseas and leave to enjoy them, often not to return.

One even mentioned the ageing sewage and drains in Port Stanley in the context that if they hope to attract larger tourist cruise ships (which is what the new port facility is mainly about), most of those tourists won't be impressed by a place with no retail outlets to spend their money, no communications with the outside World and drains that don't work, when they go ashore.
BTW, the new port project is already running late and over budget and is likely to consume a massive part of the FIG cash reserves and all those calculations were made before all this World inflation appeared out of nowhere.
So after building the new port, how much of those reserves will be left to stop the place falling apart, without revenue from from SL production?

Croft, I'd add another point about the adoption of CBDC's in countries with small populations, such as the FI.
How many of them are surrounded by massive oil & gas fields, which at the moment is in so much global demand?

I doubt if the F Islanders would currently opt for a system that would deprive them of riches beyond most peoples' wildest dreams, affording them virtually indefinite financial security.

All very fine, but currently real people in the real World have suddenly been presented with real energy shortages just as winter is starting in the Northern Hemisphere.

Having already been seduced by renewables, where the 'experts' would appear to have got their sums wrong, the real people in the real World may prefer to rely on real energy supplies that power the real equipment they already actually use (e.g. gas boilers, petrol & diesel vehicles and ships, etc., etc.).
Israel will probably want to ensure its energy supplies, while surrounded by potentially hostile Arabs, especially while watching what Putin can do and is doing to his long-standing oil and gas customers in Europe.

Once bitten, twice shy?

"Trashing everyone who doesn't ramp all day just really helps to make my point"

No Mirasol, you have to accept that sometimes you post rubbish, which you don't like being pointed out.
Not everything you post is rubbish, but when you do post rubbish and it's pointed out, you must be grown-up enough to accept it.

"I struggle to understand why you are so keen to show your ignorance to the wider public"

Mirasol also seems to need to be unnecessarily controversial - on Wednesday we had his comment about enforcement of the OM award in foreign jurisdictions.
Once again Mirasol was wrong, but seemed intent on making a public fool of himself.

Mirasol, either try to be sensible in your posts, or just go away. You'll be welcomed by the nutters on the ADVFN BB.

Usually, about now, they post some miserable comment.
Where are you chaps?

Careful Mogger, otherwise Ralph will accuse you of being a bully!!

Don't be so wet, Ralph.
You're a fine one to talk.

Try Australia, for starters, Mirasol

If you wish to be a public 'Clever Dick', then at least try to be clever.
Some posters seem to need to make continuous noise, without contributing anything worthwhile.

This is the time and the place for Rockhopper, the company who found the Sea Lion discovery all those years ago and then has had to deal with partners who had either no money or no faith are now, with Navitas able to go for FID at the project. Having been a fan of it for all of its lifetime I am allowing myself just the tiniest smirk as I can see that the development has ticked pretty much all of the boxes to get the green light.

To add to the excitement from the South Atlantic recently came success in court as the company won its arbitration case and with it compensation of €190 million plus interest. The Italian Government has 120 days to pay or appeal in ‘limited circumstances’ so if that deadline runs out RKH will have something in excess of $200m to add their share of the Sea Lion pot.

And what a surprise, for some reason or other the market have got the jitters, whilst the shares have admittedly quadrupled from the lows I think that there is an upside fit for a king, those who don’t like making money leave the bus at this stop…

Rogue Trader was suggesting $1.8Bn for RKH, if the PoO was $75, so with oil price currently significantly higher than $75, that seems about right.

"it seems to me that until the award hits the RKH account then Mr Market will still take the same ‘negative’ view".

Clearly the award was and remains very important, but is rather less critical now than it was 6 months ago.
The 'main show' now is getting SL project under way and into production.
9 months ago, I doubt if anyone would have predicted the complete turnaround of sentiment to oil and gas exploration companies, the threat from Russia and all the rest.
That has completely changed the investment potential of RKH, so that getting out now, based mainly (if not solely) on the OM award would be a mighty big error of judgement and would be to forget what RKH is all about.

Yes - I was being thick!

"Just bought a few more"

Eh? You said you agreed with Mirasol.

Mirasol, I completely agree with you.
It's the perfect time to sell when:
- RKH has raised funds through the placing, OO and will raise more through the warrants, so little prospect of going bust any more;
- Has just been awarded an astonishingly large sum by ICSID, far greater than most could even have dreamt;
- RKH, Navitas, HBR, FIG, HMG, etc. must be about to sign-off the transfer of operator to Navitas;
- Truss & Co. announcing that they support increased oil/gas exploration;

I'd say you're a really wise guy to get out now while you can.
Where are you going to invest your money? Travel companies specialising in holidays to Russia?

Hardy says: "SP has just plunged"

Hardy, what exactly is your definition of 'to plunge'?

The Italian State behaved appallingly regarding the OM licence and others, in the pretty certain belief they'd get away with it.
That's what happens in a culture, where being somewhat loose with observing regulations / law takes control (ring any bells Boris?).

They know perfectly well that they have misbehaved and as rightly pointed out below, tried every trick to have the claim overturned, one way or another.
They also believed that RKH looked pretty certain to go bust, so if they kept it up for long enough, this nasty little problem would go away, thereby not setting a precedent for any other would-be claimants.

Well, they got it wrong and they know they got it wrong (even if only by a fine margin when it came to RKH going bust), and so now it's time to pay up and as others are saying, they'll just have to grit their teeth.
A break of Government, during the election period presents them with a good opportunity, as pointed out by DEM.

Remember, that as well as the reality of enforcement, if they continue to delay, now the award has been made, it'll affect their credit rating, which will cost far more than paying this relatively small debt.

"so why would Sea Lion be different ?"

It depends - for example, HM Treasury might contribute some project funding (not inconceivable with the new hydrocarbon-friendly Government), on condition that some production is made available at a guaranteed discounted rate.
That might not amount to much, but be commensurate with however much funding is provided.