Member Info for Ovets

I've come to the conclusion that Sam Moody is a fair weather manager - i.e. he's absolutely bloomin' brilliant when everything's going his way, the PoO is riding high (e.g. $100+) and oil is pouring out of every crevice.

BUT, when things start going wrong, such as a collapse in PoO, his chosen partner (PMO) is up to its eyes in debt and suddenly hasn't the funds to spend on Sea Lion, the exploration campaign is a complete disaster, wasting multi-£million of investors' money and on and on, then he hasn't a bloomin' clue what to do (except frantically fill his pockets before the money runs out).

What we needed then and need even more urgently now, is a management team that's on the ball, makes good decisions and keeps shareholders informed.
Instead we've got this lot that seems to be taking us relentlessly over a cliff, which won't matter to Sam as long as he's managed to fill his boots and every other receptacle he can find around his estate.

It didn't really seem to matter when PoO was pushing $100 and TD kept on saying that FID was going to be tomorrow afternoon.

Sam probably thought he could call the money in the RKH kitty more-or-less his own private piggy bank.

Then, OOPS, a few banana skins, and then a whole banana plantation later, it all looks very different, but the money's gone.

I think Sam needs to have his pretty little feet held to the fire and ASAP, but how, without an AGM?
No AGM this year and last year Sam didn't attend because of "family circumstances".
Not exactly inspiring management, is it.

Yes Godders, "petulant" about you wasting our time filling this BB with your rubbish.

You're ruining this BB and that clown Nigoil has already ruined ADVFN, so the people who would just like to discuss things are drowned-out by clowns like you.

Your reply merely confirmed what I posted.

Now go away and do something useful.

With all the COVID stuff, I'm busier than ever and certainly don't have much time to waste here.
That's why I'm amazed by the extraordinary time Godders spends typing away, every day, what amounts to endless drivel - certainly not much "content".
Tell us Godders, what the Eff does a typical Godders day entail? You must lead the most boring life imaginable.

If I were you, I'd try committing a few serious crimes, then you could carry on your awful existent, courtesy of HM The Queen (they'd have to be quite serious, as the police don't take much notice of anything else at the moment).

So just carry on wearing your fingers out, not learning anything new or doing anything worthwhile.

Anyone have the anticipated/published OM production break-even figures were?

When did Boris say this?
He definitely voiced his support for the people of the FI earlier this year.

As far as I remember he's mentioned stopping funding of coal projects and reviewing funding for fossil fuels, but I don't remember anything about "withdrawing export finance support for over seas Oil & gas projects".

In any case, humanity has got itself into a bit of a bind, because the only way out of the economic chaos from COVID will be by activity, much of which will have to be fuelled by oil & gas, even if for a short time.

Adonis, I think it should be pointed out that RKH reached the dizzy heights of about 515p (not 560p) for about an instant on 23/9/10 and was around 500p only for a few days, during a period of exceptional euphoria, so I wouldn't quote that as a realistic high.

Yes it's collapsed spectacularly, but let's not exaggerate things just to elaborate a story.
And there have been plenty of opportunities to trade profitably during the time since then, which so many here ignore/forget to mention.

Many like me have said all along that it's not much more than a bet, so those who moan, etc., are not seeing things clearly.
You go to the races, or the casino and you place a bet and you can lose the lot in a few minutes. Here you've had the chance to trade and/or hang on and see if something good comes out of it.

Some say things will never be the same, which is probable and some say that oil is finished because of COVID and climate change.
I agree with those who reckon that in order for economies to recover more quickly, oil will be a big part of that recovery, despite the risks to the planet, while work continues so to develop renewables, which can then take over more quickly.
In the mean time, many exploration projects will have been canned and weaker shale companies gone to the wall, so for survivors, with "shovel-ready" oil project, things look quite good.

If you ask me, there's a lot of haggling/negotiating going on in the background, there's gamesmanship going on and much more besides.
Earlier this year I posted that as long as there were no more banana skins, things might actually come right - no one saw the banana plantation that was about to hit us, but if you've got the balls and can afford to lose the lot, I'd say hang on, because there are many who really want to be part of getting Sea Lion into production. Those will be negotiating/haggling/planning like mad at the moment in order to press the "GO" button, once a vaccine is available.
It's not dead yet - just resting!

Totally agree - punt and then just keep an occasional eye on it.

How some people can spend all day doing nothing but posting stuff on here (usually negative tripe) is a complete mystery.
If not being paid to do so, then they must have the most appallingly boring lives with nothing else to occupy them.

It's "lose"!

Don't broadcast your ignorance to everyone.

There's an important component to all this that most ignore/forget - civilisations of the past used slave labour to get things done, going to war not just to grab land and commodities, but people as well.

Energy, mainly from fossil fuels, driving all the machinery and kit of civilisation, is mankind's modern slave and with that came the explosion of urbanisation and population.
Humanity's got itself into something of an awkward corner if we want to continue to live a comfortable life, the disadvantaged stand any chance of improving their lot and on top of that, a growing World population and demands for improved living standards.

Without all that energy, it'll collapse with far worse outcomes than COVID. However, if we continue to burn fossil fuels, there'll be no planet worth inhabiting.

I believe politicians relied too much on the promises of nuclear fusion, which was only "30 years away", but that promise started at least 60 years ago and we still can't get it to work commercially, so we carried on burning fossil fuels as we waited for something better to come along.
As David Attenborough tells us, we're standing in front of a one-way door, and if we go through it, it will slam behind us and that'll be that, at least for most people.

So using Hydrogen as an energy source is more than quite a good idea, it could be the saving of mankind. If the scientists get nuclear fusion to work commercially, then that really would solve our energy needs, but with that might come even greater population growth.

No, it's just "free".

The word "free" is already the abbreviation of "free of charge"!

Actually, the Government has just announced an imperative national requirement to invest in Hydrogen as an energy source.
The biggest imperative for the UK is to get ahead of the game with Hydrogen and not be caught napping as we were with batteries, which the Chinese now dominate.
The serious weaknesses with batteries, are not found with Hydrogen.

About 80% of all industrially produced Hydrogen comes from oil and gas and until there's enough surplus renewable energy to produce it, it's currently produced using fossil fuels, such as oil and gas.

The Government acknowledges that using oil and gas to produce Hydrogen isn't very green, but we need to be developing and building all the kit that will eventually run on renewable-produced Hydrogen (which will still be made largely from oil & gas), so if you think the days of fossil fuels are over, you haven't been paying attention.

Cyan, the reason you give for RKH not being acquired is perhaps a good one for it happening, which is that there's unlikely to be a rush of competitive bidders, so RKH could be snapped-up for very little.

However, I'd like to know what the licence situation would be, if RKH were to be acquired. Maybe FIG would welcome a newcomer, who can get things going, so would be happy to transfer the licences.

Regarding OM, I agree that things are very likely to be going on behind the scenes, particularly if any award includes lost profits, when PoO dithers around the $40 mark.
I believe that means a somewhat lower award, but probably still enough to allow RKH to survive without further dilution.

Godders, I thought I'd warned you not to publicise your lack of understanding by making uninformed, silly posts , but you can't help yourself.

No Godders, an accurate so and so, who takes the trouble to research things and not make silly public comments.

It adds a great deal Godders, and your lack of understanding of this key point proves what a wally you must be.

It makes ALL the difference between RKH having a reasonable chance of actually getting any award and getting nothing at all, plus a number of other details.
You may think this process is painfully slow, but taken through the Courts (as you choose to believe it is), it could take literally forever, as in Dickens' Jardyce & Jarndyce, but I imagine you don't know what that's about either.

Anyway Godders, if you really are the clown you appear to be, I'd not broadcast the fact by posting any more of your rubbish.

FFS Godders, how many times do we have to tell you it's not a "court case"?
If your grasp of the rest of everything is as brilliant as your grasp of this, I'd go and sit in a hole and give us all a much needed break.

Don't take any notice of Ralph - he's run out of medicine and can't get any more at the moment.

Agreed CitizenTS, but my reference to UKEF and the FI was more about the political acceptability (and public perception) of funding a fossil fuel project when just about everyone is shouting about the need for zero emissions.

Regardless of who might actually get some of the jobs, funding a Middle Eastern fossil fuel project now might not go down well and Boris would have to go into charm overdrive, whereas for the FI, just around the 38th anniversary of the end of that war, would probably be considered "jolly good".
Boris could even remind everyone what a spiffing job the Conservatives did then and he might even remember to mention the chaps who actually did it!