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Me too, although probably from the same person everyone else has been talking to!

Anyway, the rumour mill must be reporting that things are going well for the SP to fall by 13%.

And I was just starting to think of all the things to spend my winnings on.
Now I'll just be whining.

"Cyan ... as soon as we have an award confirmed it's highly likely that we will be able to raise interim Bank finance if required. A kind of riding loan I guess in simple terms".

When I suggested that, someone here said I was posting nonsense!

Blimey, in Sainsbury's?

Totally agree LTT, especially about the Royalties, but I was merely suggesting that UKEF might pitch-in a couple of Bob, just to show willing, if by doing so, some degree of FI self-sustainability resulted (i.e. a very limited exception).
Whatever the case regarding UKEF, it would never be enough to make much of a difference regarding funding, but might make a difference regarding the support for getting this project off the ground.

I've already read Cyan's document, but perhaps not thoroughly enough, so I'll give it another bash!

Actually, while I certainly wouldn't count on it, UKEF funding is not 100% off the table.
In their last update on the matter, the Government stated: "The world-leading policy will see the UK end export finance, aid funding and trade promotion for new crude oil, natural gas or thermal coal projects, with very limited exceptions”. "Very limited exceptions” leaves the door slightly ajar, although perhaps not enough to bet the house on it. However, anyone who's placed a bet on RKH coming good might be the sort of person who'd put a bet on this too!!

There are arguments that the FI might qualify as a "very limited exception", especially as the 40th anniversary of the Falklands War approaches, with UKEF funding for a very modest sum, to enable the Islands to become a more self-sustainable region.

Oh dear, someone left their sense of humour somewhere and can't find it.

Yes, but one has to accept that the British legal system is underpinned by a great deal of Roman law - funny that!!

I'm hopeful about 2022 and beyond!

So not much left to be done then!!

Here's a little thort (with a few assumptions):
- Let's assume RKH gets an award and it's better than a farthing (well, there have been derisory Court awards in the past that signify that, while the claimant has won, they don't really deserve much/any compensation);
- Costs are awarded to the winner (pretty normal for most legal processes, as long as 'costs' have been included in the claim);
- Interest is payable by the loser, for slow/late payment (quite usual for most legal processes, as long as 'interest' for late settlement is included in the claim);
- The interest rate is of the order of 8%, which is what the English County Court currently applies. That's been the case for donkeys' years, from a time when 8% wouldn't have been considered as astronomical as it is now. With official interest rates currently below 1%, it remains at 8%, more as a stick to focus the minds of dilatory defendents, that they may as well pay-up now;

With all that in mind, let's say the award is $50Million (but hopefully more). That goes onto RKH's balance sheet, even if unpaid. On the strength of that, RKH could borrow as much as it needs to continue normal business (it wouldn't necessarily need to borrow very much at the moment). The interest to be paid on that loan would eventually be more than compensated for by the interest accruing on the (hopefully) much larger ICSID Award.

In the mean time, RKH's ECT lawyers will already have identified assets to be seized if the Italian State procrastinates and will be getting on with obtaining Court orders to seize those assets and all the while, the interest on the award just keeps on accruing.

How does that sound?

The green fascists can make some noise in Salisbury, but it's a bloody long way to Stanley, where the decision making will count.
Anyway, there are some longer-term environmental reasons for SL to go ahead, as well as oil & gas prices going through the roof.

Boboil, do the same research I have done and you'll discover just how wrong you are.
FIG have made many statements over the years, but occasionally you can get a real insight into their true economic situation, which currently looks OK, but not for much longer, without a massive injection of funding.
All the info is there if you take the trouble to look for it and listen to it/read it.

SL would solve all that in one go.

Clearly you haven't been taking enough notice.

Did you mean a "Brutish" MP?
Anyway, if SL were to go ahead, the Islanders wouldn't want to share the spoils with us lot.
At the moment, their future is pretty precarious, but with SL (and other) oil/gas revenue, their future would be secure and if I were them, I wouldn't want to be represented by one MP in some extremely remote place, where no one would give two figs about the FI, except to cream-off the Islanders' income.

I might be wrong, but I don't see that happening if oil production goes ahead.

As for next year, yes there'll be loads of Ballyhoo, so time for RKH/Navitas and the FIG to get their act together and SL into production. The FIG can make the decisions, without having to worry about the Green Brigade undermining their plans.
Without oil revenue, they're f*ck*d, and they know it.

I think we're OK with the award - I reckon RKH is going to get an award, otherwise the result would, could and should have been announced ages ago.
The procrastination is exasperating, but I doubt if much, even anything, to do with RKH's lawyers because if they were to have held up the process and/or upset the tribunal members, they stood a good chance of losing the claim, or at least reducing any award, if given.

Don't forget, one of the 3 tribunal members was appointed by the Italian State, so he's going to do his damnedest to make things awkward, make sure every stone is turned-over, make sure he doesn't end up in the Tiber wearing concrete boots, etc..

I would have thought that if an award is made, RKH's legal costs would be awarded on top, so paid by the Italian State.
The 'no-win-no-fee' bit applies only if RKH lose, which looks unlikely.

The other 2 members of the tribunal won't want to end up in the Tiber either, so will want to be seen to have been scrupulous and fair.

Anyway, oil price now looking quite steady and stronger than for a while, so if there is to be a 'lost profits' component to the award, the delay may make that quite a bit larger than a year, or two ago.

Ever heard of 'Jarndyce and Jarndyce'?

If not, then I suggest you read it.

Not so sure about that, because most aircraft are leased, so don't belong to the airline and still less, the state.
However, there are tangible assets, but seizing them can be quite a job, as a Court would first have to authorise it.

Another option is to seize assets to the value of any award. Again, not the most attractive proposition, but if RKH were to initiate such action, say in the US, I suspect the Italian State might decide the time has come to pay-up.

OMG, read the thread heading!

Funny how it only posts during working hours. What a coincidence - shows lack of commitment!!