Member Info for pauldrayton

You out of prison yet Crofty or just getting comfortable for the rest of your sentence?

No there was no unusual end of day price action. Look at the volume and trades. Whether darloboy is correct or not remains to be seen, he hasn’t posted any rumours before so not sure why he’d start now but you never know online!

No. Just happens sometimes. No volume at all and the company have confirmed that they haven’t heard anything from ICSID since December so if the rumour is correct then it hasn’t come from Rockhopper.

Think you’re right whackford. Let’s hope the rumour is false, it would be disappointing.

No idea who the poster is to be fair! I’d be surprised if the lawyers only took €10m though for that kind of award, probably more like treble that leaving RKH with around £20m. Better than a kick in the teeth and will keep the lights on for a while but not much more.

Rumour on ADVFN of €54m award minus €10m legal fees. Total award €44m = £39m = 8.5p per share.

Yes that’s a fair point Mozza, maybe it was just too optimistic that they would be able to pick up assets at extremely distressed prices. Whatever they do is part of a longer term strategy anyway, but that first deal is crucial. Can’t be long now surely!! :-)

Well there aren’t many selling at these prices who are making a profit so it looks like some are prepared to call it a day and take the loss. Fair enough really given the length of time with no news.

I’m going to hold but I am a bit nervous about the oil price rising and deals becoming less attractive. I do really rate the management though which is the only thing that’s keeping me here, but I do wish they’d hurry up a bit!

7am RNS anyone?!

Thanks for the response Jadam.

As expected really, I’m sure plenty is going on in the background and we just have to hope that it materialises. Glad to hear they’re making the most of the assets they’ve acquired and at current oil prices it will open up other parts of the acreage.

Would still like to see a Serenity/Liberator farmout concluded so that drilling can take place this year.

At the risk of asking people to repeat themselves, did the emails provide any latest info on Serenity or the status of a farmout? They seemed quite confident it would go ahead in the interview last year but no news as yet and if they’re going to drill this year you’d think they would want to finalise it fairly soon.

Yes it’s just a shame about the consistent 10k seller.

Wonder if it’s an institution offloading - no TR1s yet but there has been determined selling for a while now.

There has been a bit of a battle going on between buyers and sellers over the past few days. Bit more volume again today but still plenty of shares available so somebody or some people are still selling quite heavily. At least there are some buyers around too now to mop some of them up.

Navitas were really the only interested party when PMO & RKH were looking for another partner so the options are narrow if Harbour decide not to proceed.

Having said that, I wonder if some of the majors might start to look elsewhere if Biden launches an attack on US shale. A new basin/province could start to look more attractive.

Wasn’t it on the move before he even mentioned it? Plus I’m not sure he has the following to generate that much volume. He jumps on a trend to exploit it rather than creating one, and when he’s ramping you know he’s selling! Think everybody knows that too.

Strange to see such volume yesterday followed by very little.

junior007 - are you daveri007’s younger brother?! ;-)

Nevermind Craig David, it’s Hammertime!

Agreed Mozza & Whirlaw. If last year was the only time to buy O&G assets then virtually everyone has missed out and there will be no good deals available from now on.

Actually I think the past year will mean companies selling will have to realise buyers need to be cautious and will be using a much lower oil price estimate in their appraisals than the one we see today.

There will still be plenty of companies looking to divest O&G assets - the market hasn’t changed in that respect since Longboat’s IPO.

They key is really who can raise finance to do the deals and on what terms - this is what will give buyers in this market the advantage/disadvantage. I’m hopeful that Longboat’s backers and the directors’ long-standing experience in the industry will help them and that’s really the investment case for Longboat.

Strange day. Looked like it might take off this morning then ran out of steam in the afternoon! Nice to see a rise nonetheless and good point about the website updates. Let’s hope there is plenty whirring away behind the scenes.

Is Longboat dipping its toes into hydrogen or are people just making too much of a shared NED?

“ Who was it who said they were looking for a trading volume increase prior to news? Has been happening over the last few days.”.

That was me! Let’s hope it bodes well.