Member Info for Ovets

" I have to find 40k to max my rights issuance quota. Not happy about it"
Oh dear, Godders, our hearts bleed for you.

EG77, have you got it now, or are there points you still don't understand?
I was contemplating posting a summary of my understanding, hopefully to be of help and to verify if I understand it all correctly (e.g. the warrants, tec.).

"Ovets …. Like you I see it as a positive but can’t help think that it is Sam’s poor stewardship that put us in this situation.
Mark my words they will also award themselves HUGE bonuses / shares on FID or indeed OM."

How about we concern ourselves about the situation as it is now, than endless moaning about past actions/mistakes and endless speculation about what might never happen?

"with regard to the small dilution. Factor in the second tranche of dilution which is coming and the exercising of the warrents our handholding will have been diluted by circa 45 to 50%"

Sell mate and go and polish your Tesla

"I would have preferred Rock waited for OM to be announced"

So would everyone, I suspect, but Sam couldn't afford the nail-biting wait for an uncertain award announcement date and more important, the tribunal actual award outcome. It's still just possible that there's no award, although I doubt that very much - however, it could turn out to be smaller than some are predicting.

So Sam had to get on with raising capital, rather than just wait for the OM outcome.

I see this as a very good sign, as it indicates the need for funds to get on with it. I see Navitas as an exceptionally dynamic organisation. I understand that Gideon Tadmor isn't one to hang around waiting for ICSID to make an announcement - there are very compelling reasons to be getting on with SL and getting into production, so RKH having to raise funds now fits in very well.

Time will tell.

"This is a good raise if ever there was one in that absent a decision on Ombrina, RKH needed the money now that the Navitas deal is going ahead full speed and license commitments are being made, only possible with a strong balance sheet.

I’m not surprised that institutions piled into this raise, I think it must have been twice subscribed and with some new shareholders now on board finances at the company are set fair, as said by the CEO retail investors should seriously look at investing, after all other potential investors were scaled down. This even after an increase in the size of the deal shows that Rockhopper along with Navitas is going to be an exciting investment in the years ahead and that is not including a potential Ombrina gain in for nothing.

This offer was clearly not one to duck and I can see a good stream of newsflow on Sea Lion and how the Navitas relationship is going ahead with all the operational issues that will create significant increased value at RKH".

sabyam, by stating "The only thing that DEM and Ovets came up with......" IS twisting the facts, as that simply isn't correct.
Also, if you want to look credible, don't call us 'infantile' - that doesn't help - that's ADVFN/Nigoil style of reasoning.
You clearly haven't understood what I've been saying (DEM is big enough to speak for himself), otherwise you wouldn't waste everyone's time bleating away here.
Save your breath/fingertips and get on with something worthwhile - maybe join Godders and help him polish his Tesla.
In the mean time, I've got better things to do.

Sabyam, don't twist the truth to fit your views.
All DEM and I have done is to point out that this resolution isn't anything new, which is what some posters (I seem to remember you being one) were stating/implying, as though Sam and the BoD had slipped something new, nasty and underhand into the AGM resolutions.

We didn't make any comment about whether this resolution was good, bad or indifferent.

If you want people to believe your posts, you need to be honest, which you clearly are not.

At the time, I suppose the size of SL was potentially SO vast and the price of oil SO high, it all made everyone's head spin.

With numbers like those, what could possibly go wrong?
For those around at the time, I believe we'd all be dishonest now if we choose to forget what we were thinking then.

Yes, there have been some very bad management decisions and serious greed, but when the prospects of generating so much wealth, almost beyond belief (especially if you add all the other potential assets in the FI region), then judging by the quality of the posts from the routine moaners here, if we're honest, I reckon few, if any of us would have done much/any better.
It's very easy, sitting behind a keyboard, to pretend that you're better than everyone else, until someone hands you the keys and says: "OK clever Dick, you take over".

I agree, but I don't think that's the point being made by DEM and others.
Some are posting as though they've made a great, new and worrying discovery, which clearly bothered some readers.

By all means point out a resolution (or anything else) that you might consider to be of concern, but make sure you also point out that it's been like this for a few years and the resolution hasn't changed, even if the current circumstances may have done.
Then readers can assess how they're going to vote / what they're going to do in a more informed/measured way.

sabyam, I also have made my position clear and, unlike some here, don't have time to waste on fruitless argument.
You make my point well enough, by saying that you hadn't noticed this resolution, even though it's been there every year for ages.
You only posted "I will admit that I hadn't noticed this particular resolution put forward in past AGMs" after you had already posted stuff about the resolution and then been caught out by DEM.

The point I was making was to support DEM's sensible explanatory post against silly comments that get others wound-up/nervous/etc. when they haven't bothered to verify that what you were posting about this resolution was wrong, misleading and unnecessary - that's all.

Everyone's pretty nervous right now, so it's very important to post fact and not spook some readers with drivel, just because you want to appear important, but instead, you're just publicising that you don't know what you're posting about.

Next time, before posting 'important stuff', make sure you've done your homework.
Hope that's clear now.
Cheers!

A lot of words there sabyam, but not really taking us much further forward.
Regarding your comment: "DEM, just because a certain resolution was present in the past doesn't make it right.", I don't believe that DEM is saying that it's necessarily right, but that it's been the same for some time, year after year.

So I think he's saying, to the scaremongers, who appear to have spooked a few other people here, that this is nothing new and if it's spooking you today, why didn't it spook you last week, or the week before, or the year before?

EffOff Godders - what the hell would you know to make such a prediction?

Anyway, it was the likes of Tony Durrant who definitely "over promised" and you know what happened to him.
Actually, if you want to be pedantic, I'd say Sam has either said very little, or been inclined to under-promise, which is presumably why so many here (I seem to remember you included) chuck abuse at him for not promising the earth tomorrow.

How about being a big boy and waiting for what must be due very soon?

Just as a matter of interest, where did the £1,500M (which I believe is £1.5Bn) come from?

Kurgy, surely you weren't expecting all these things at 21:35hrs on a Saturday evening?

The rest of us have far better things to do over the weekend.

You could be right LTT, if profits remain at current levels.
When Income Tax was first introduced by William Pitt, wasn't that supposed to have been a 'one off' to pay for the Napoleonic War deficit?

**I think Nav will want to take RKH out. Wonder why they didn't before ? Have FIG got a RKH holding ?**

Interesting - some time ago, when PMO was RKH's partner, I suggested that RKH might be taken out, the LSE BB wolves tore that idea to shreds.

I suppose it depends on who would end up being the operator. At least for the time being, I suggest FIG would prefer RKH to be the licence holder. That might change, as FIG becomes more familiar with Navitas, as well as others getting involved.
For the time being, I think it's too early to start discussing a takeover.

To be precise, it's the Portsmouth Harbour Ferry Company Ltd, of which Gosport Ferry Ltd is a part.
If posting 'facts' here, it's important to get them right.

"FI Holdings who own the Isle of Wight ferries amongst other things"

Incorrect, they don't

You could well be right, but endlessly repeating the same discussion is unlikely to change anything, except to drive even more readers mad.
e.g. How many parents are driven mad by the incessant call: "Are we nearly there?"