Member Info for pauldrayton

Zeua/Nico - you could have told us at the time so we could have followed suit ;-)

Completely agree on funding and that’s where I think Longboat’s opportunity may be. It’s tough to get anyone to invest in O&G at the moment and a lot of big funds are moving away from it. The Faroe pedigree & longstanding relationships with their institutional backers may be what sets them apart when push comes to shove. If their expertise, reputation and relationships can assist them in getting funding which might not be available to others then they still stand a good chance of securing the right deals.

Chill out guys, this has been a good natured board up until now. I know people are frustrated and tempers are frayed but let’s keep it civil!

I don't think they are negotiating. I contacted Rockhopper not so long ago and was informed that they have heard nothing from the tribunal since December. Good news I suppose in that there have not been any further questions, but frustrating that proceedings haven't even closed yet.

I haven’t seen 23rd April quoted anywhere else from memory.

Do you know where you got that from pre2rcd?

5 days? It’s 7 days until results viper (here we go with Craig David again!).

And the results are only last year’s financial results which won’t have a lot to say other than how much money they’ve spent! Hopefully they will provide a bit of colour on what’s been happening but I’m not holding my breath for anything concrete. They won’t be able to say much until a deal is done anyway.

Unless you’re expecting other news that we don’t know about.

It would probably be wrong and irresponsible of anybody to offer financial advice to anybody else on these forums. We all have to make our own decisions so that we can live with the consequences (good or bad!).

My last correspondence with the company was a reply saying they remain confident in their strategy and the market opportunities, although they’ve been saying that for a long time!

I do understand people getting frustrated given the length of time it’s taken, and the concern about the market running away from them now with increased commodity prices making deals look potentially less attractive.

But with the company pretty much valued at cash and a good management team, I’m personally prepared to wait longer having waited this long already!

Entirely up to you though & good luck with whichever decision you make.

“ firstly there's a pandemic on the go and secondly the Italian government have no money”.

True barnyards but ICSID are insistent that it’s ‘business as usual’. One of the panel suffered a Covid bereavement so that may have had an impact but there are plenty of other cases which have been resolved and awards made in shorter time periods even during the worst of the pandemic. Not every case is the same I guess but it does seem to have taken an enormous amount of time to resolve this.

Not sure the Italians being skint should have much impact on the ICSID timeframe and their lawyer seemed to think a decision was coming “soon”, whatever “soon” means nowadays!

Rockhopper confirmed they have not had any further questions from the tribunal and judging by the Italian lawyer’s comments it doesn’t sound like they have either.

So what’s taking so long?! This case was head over 2 years ago, and final briefs submitted 15 months ago.

Thanks all for your replies - much appreciated.

“ I3E have multiple low Cost Wells they can bring online quickly”.

Do we know how many wells can be brought online quickly? Also how quick is “quickly”, and how much production would they add?

Indeed Rovers. They only get one chance at the first deal - important to do it right. Better to do a good deal than a rushed deal. I think the reason why most people invested here is because we think they can deliver. It’s taken longer than we hoped and expected but if they get it right eventually that’s fine by me.

Bad idea! At least spend a lot of time separating the wheat from the chaff, but always rely on your own research. Most of those who post on message boards do so with some kind of agenda so take it all with a pinch of salt.

I’m guessing he means Repsol Sinopec.

It was the best messageboard by far. Shame it got changed and ruined. The good old days eh, wish they would return here!

Doc when did you acquire your 3%?

Are you personally responsible for todays’s volume?!

Indeed. Ignore individual trades and whether they were buys or sells - the share price direction always tells you what you need to know.

38million shares traded. Around £3.4million worth.

I’m still calling this a leak.

We will find out soon enough.

Dr Jim if this is down to your report would you mind doing a write up on some of my other holdings please? ;-)

This is a leak.

News tomorrow imo.

Although I did say that the other day too!