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Yeah, and Nige said things would kick-off this morning with some fantastic news - what a wally!
So that's it is it?

Because it's an effin' nutcase, or that parrot. There is no other explanation.

FFS, someone put a sheet over its cage.

Reasonable post, Charles, but we're not all "de-rampers", just voicing perfectly reasonable opinions (not all admittedly).

Nige, on the other hand, rarely if ever supports his parroting with a reasoned argument, so what you say has some value, but not 100%

See what I mean?
Where's that cloth?
Maybe a big syringe of something terminal to put it out of its misery would be better for all of us.

I've got to go out and sweep-up some more leaves!

My neighbour has an annoying parrot that says the same thing over-and-over again, adds nothing to the conversation and drives everyone mad.
When he can't stand it any more, my neighbour puts a big cloth over the parrot's cage and the parrot immediately goes quiet.

Anyone got a cloth big enough to cover Nige's cage?

Because he thought he was going to get his hands on a one-off cash pay-out to shareholders and as he was one of the biggest, that meant a big payout, then he'd sell all his shares before RKH collapsed without any cash reserves to survive, or maybe he thought a predator would come along and buy-out the now embattled RKH.

Anyway, Crispin's greedy little plan failed, so he buggered off!

As far as I know, after the delightful Crispin failed to get his podgy little hands on RKH's cash reserves, he sold most, if not all of his RKH holding.
Good riddance I say.

Nige, how about answering LTT's question, and preferably without being rude and without the spelling and grammatical errors, which don't do anything to make your rant look credible.

Oh yes, what does "simples" mean?

I think Mark's right, that at the moment it's more about there being no news and investors getting fed-up and/or cold feet and there are quite a few reasons for feeling that way.

Every visitor to this BB should remember that none of us has any authority to make this happen. The idea of BBs like this is to discuss our ideas/conclusions, even if some of them are ill-informed. All we can do is assimilate as much information as we can to try to reach a conclusion.

Some posts do try and influence things, or just moan about their plight, so those posters don't help, or contribute anything worthwhile.

Bootle, I can tell you for definite that some "sells" have been "buys" and vice versa, so the published transaction details aren't reliable.

Well, someone bought 265, so things are looking up!

Godders - who said anything about 25p?

While we all wait and speculate about what's going to happen, Nige has banged our ears multiple times daily, but none of his predictions has so far materialised. Something was going to happen on 14th November, which came and went with only a fall in sp to show for it. Nige's latest gem is that the MMs were playing a blinder - whatever he meant by that.

After SL was discovered, once its considerable volume and quality of oil was verified, with the PoO was around $100+, PJ & SM assumed that they had such winner without any downside, that they didn't need to worry too much about managing RKH - it would virtually look after itself and their bank balances.
They treated RKH and its shareholders accordingly, feeling entitled to milk the company. FID/sanction would be very soon, making shareholders rich, so not many objected, or seemed to notice.
However, in 2014, the PoO collapsed and even worse, it refused to recover, falling to below $30 in early 2015.
It was at this time, the much anticipated Eirik Raude drilling campaign was just starting, which burnt through the money, eventually bankrupting FOGL and producing very little for the vast sums expended.
Ombrina Mare was acquired in the 2014 takeover of Mediterranean Oil & Gas and then Beach Petroleum acquired in 2016.

The full story is much more complicated than that, but you get the idea, and we approach the end of 2019, still with nothing to show, with climate change dominating World opinion about fossil fuels and real concern about how the SL project is going to be funded.

If SL and the rest of the Falkland NFB is as good as people say, you can be sure that, all the while, others have been keeping a quiet, but beady eye on progress (or lack of it) and one conclusion they're likely to have reached about RKH is that its management team is greedy and not especially talented, even though they've got us this far without going under.
With that in mind, would-be predators will have worked out that RKH could be a bit of a push-over.

So here's my prediction and you can come back and shout if it turns out to be wrong:

As the delays continue and the market shows little or no interest in RKH, I believe a predator is going to snap-up RKH (with all its FI licences) when the moment is right, when everything is looking hopeless and for as little as possible.
With a possible arbitration award, possibly worth up to about $100 million, a predator may choose to jump-in before that's announced in Q1 2020 and possibly before the Export Credit funding is announced (if that even happens).

It could be that the part of the farm-in deal TD has referred to will involve taking-out RKH. The current fall in the RKH sp probably suits farm-in candidates very nicely.
As far as FIG is concerned, a PMO/ANOther venture, without RKH getting under their feet, could be just what the doctor ordered!

If you're counting on that "multi-bagger" win, I think you can forget it.

Auson, I completely agree that a bit of director restraint would be very welcome, but do you really see that happening?

So in view of that, while the Egyptian assets may not have been particularly good, they were the only regular source of revenue, which was also increasing. If that's the only regular revenue you've got, is it wise to dispose of it, unless there's some really pressing reason, especially if company G&A costs continue unabated and no FID immediately in sight?

I don't recall hearing a proper explanation for the disposal, which shareholders deserved to hear. Can anyone remember what it was?

In the mean time, it may be true that RKH has been a victim of unforeseen adverse economic events, but surely that's why a good management team is there: to negotiate precisely such events successfully? Not to line their pockets, as everything around them goes wrong and they don't appear able to cope?
We've seen companies with incompetent management collapse, unable to anticipate and handle adverse events (e.g. Thomas Cook, Mothercare, BHS, etc., etc.).
So a management team that gives itself big rewards, must deliver company performance and shareholder value equivalent to their rewards, otherwise they're nothing more than thieves.

I'm sure there are other explanations, but the Egyptian operation at least provided some regular income to cover G&A costs. To cash that lot-in either indicates that the BOD had been advised/instructed to clear the decks in preparation for the "big event", or perhaps a desperate need to raise cash, or something else? In current circumstances, it starts to look a bit dubious as the "big event" doesn't look imminent.

Extending the the PL032 licence to 1/5/2021 could possibly mean that the "big event" is imminent (in which case you'd expect RKH to extend until at least first oil), or, as things are looking now, RKH just needs to extend long enough to get it over some line (e.g. acquisition/merger?).
One wonders what the RKH BoD see happening after 1/5/2021.

Actually Ralphy, I still think this is going to happen, except that RKH won't be around at first oil to enjoy the spectacular gains that some hope for.
As long as your average sp price is, say, around 50p or less, I reckon you'll be OK, but you'll have to wait a bit longer for that.

RKH is sitting on some spectacular licences, so someone's probably going to pay for them eventually, but not until things either look completely hopeless for RKH, or someone decides it's the moment to snap it up before someone else does so.

As for the arbitration award that some here seem to be relying on, that may come good, but there's absolutely no guarantee that it will and even then, what it'll be.

To Bigred: I put Malcy's stuff in parentheses.
To fuddstone: I agree it's an understatement, but if one puts it any stronger, the nit-wits come out from their holes and start shouting. I've got fed up with them for not at least attempting to understand the realities staring them in the face!
One only has to look at the various decisions the RKH BoD has made this year to wonder how any of them could possibly be intended to enhance the sp and performance of our company. They all have the appearance of preparing for an inevitable demise, rather than galvanising an already thriving enterprise for a new and exciting period (as some posters on this BB would have us believe).

This is what Malcy had to say yesterday, which I don't think anyone has quoted (if they have, apologies):

"It’s situation normal at Premier who continue to deliver operational excellence with today’s update no different. Production averaged 79.4 kboed with high operating efficiency of 94% and guidance for the full year remains at the upper end of the 75-80 kboed range.
Catcher continues to dominate with 69/- kboed and with project cash payback reached just 22 months after first oil and approval for area satellites received and first oil expected in early 2021. Big-P in Indonesia is on track for first gas by year end and Tolmount is on schedule for the same milestone for the end of 2020 with the East development sanction expected 2H 2020.
Elsewhere, the sales process for Mexico is again delayed but for all the right reasons, there isn’t room in the data room for all the potential buyers. Yesterday’s hullabaloo around the Tullow profit warning doesn’t affect Premier but does have a slight knock on industry wise and it was Eco that took the biggest hit, unnecessarily so in my view.
With these numbers Prems are generating ‘significant ‘ free cash flow which is ‘materially ‘ deleveraging the balance sheet and the management of the portfolio is proving to be sound with cash expected from the Mexican sale and Sea Lion FID upcoming. Business as usual at Premier…"

It does seem that the purdah rules will prevent Export Credit sign-off before the election results are known and then who knows what the outcome will be and its effects on things like this.
However, whatever the climate change movement says (and most of us probably agree with their principles, even if not their methods), oil is still going to power human civilisation for long enough to make SL viable.
So there are some strong economic reasons for the UK Export Credit funding to support this, but perhaps on a less grand scale.
I'd say that any EC funding will be enough to give other backers the confidence to take the plunge.
I'm in no doubt that this IS going ahead, but possibly/probably not the way we'd anticipated, or would have chosen.
This includes the very likely prospect of RKH being taken out (by PMO?) when the last remaining RKH shareholders have lost the will to live and are prepared to sell-out for peanuts. There might be a bidding war, but I wouldn't count on it.

Having given the matter much thought, RKH has put itself in a pretty weak negotiating position. To any would-be predator, looking for an absolute bargain, RKH really doesn't have much in its armoury to defend such a bid, other than the promise of some pretty respectable FI region licences and the hope of a decent arbitration award (not guaranteed).
The recent licence extension looks to me more like an act of desperation, than one of a confident future, otherwise wouldn't RKH/FIG have agreed to extend them for, say, 5 years and SL first oil?

I don't remember changing that post.
If you're so clever, show me the one where I rescinded that.

Not trying to divert attention away from your "FID/sanction 2019 - STRONG BUY" are you Nige?

Well, if we are going to try and guess what's going to be said by TD on Thursday, and don't forget that Nige told us to put 14th November in our diaries, I tend to agree with what Malcy said in mid-October:
"Premier are updating again on November 14th when we can expect more from Tolmount but probably not from Zama where the data room has been bulging with potential farminees nor from Sea Lion.............".

Unless you REALLY know, trying to guess is a mug's game and really quite silly.