Member Info for pauldrayton

Anybody know if there is a Proactive or Vox interview planned?

Toscana General Meeting not until late Q3 so Q4 at the earliest for relisting.

Well this is all very interesting. With the increase in oil prices, the Toscana asset has been looking more & more valuable by the day - and a total steal. You only need to look at the Toscana shareholder forum to see how upset they are at how little they are getting. Conventional Canadian oil is very interesting at the moment and these acquisitions could prove to be extremely shrewd in a year or two if oil prices stabilise at higher prices. They are also strengthening their own hand with regards to the Liberator/Serenity farmout and it would be excellent if they could secure something positive on that front.

Of course we will have to wait for the details - it would be great if they could get an interview done today to explain it all in person.

Understand there are discussions ongoing with FIG regarding this so hopefully some positive news will come from it.

We should see a Holdings RNS early next week if that UT is correct.

Huge trade - is that feasible or a system error?

Yes seller still about but looks primed for a breakout once the seller is cleared. Time will tell.

lsetown, I believe they did discuss it briefly at an AGM a year or two ago. From memory it reduced in % scale the larger the award. Would be nice to hear an outcome either way soon!

Hard to know who the seller is but it does seem to be being held back at the moment. Hopefully a decent trading update in July will help.

Missed the top and sold at 155p. Will keep an eye on it and if it gets back sub 120p I might have another punt.

Good luck all.

Probably. But it is just the way the markets work - the big boys always know first.

I wonder if we are due another 6 month suspension soon, and the institutions have been informed that if they want to take some cash out they need to do it now in advance.

Just a theory but it wouldn’t surprise me.

Isn’t cash at £100m?

Still looks very cheap though to me.

With £100m in cash and a strong orderbook for the next couple of years, the share price here does seem to be disproportionately low.

harel, without wanting you to divulge anything about your sources, is this conjecture about Repsol or do you know something we don’t?

To me, it would make sense that some form of unitisation discussions need to take place if a farmout is not agreed, especially as the biostratigraphic data confirmed that the Serenity well was in connection with Tain - this was due to be presented to the OGA a month or two back.

The wait continues but I would be interested to know if there is some info behind your statements or if it’s just your own thoughts.

Thanks.

As Gozzie on ADVFN has found:

www.linkedin.com/jobs/view/1906000892

“ This is a new post intended to provide support and legal advice to a variety of Directorates within the Falkland Islands Government (FIG) in relation to public policy development. There is a pressing need for public policy development to underpin new legislation; in particular in connection with the prospect of hydrocarbon development.”

Markets & oil crashing this evening - tin hats required tomorrow or switch off altogether!

Do we know when/how long the ARCM court appeal is likely to take?

CitizenTS, I’m afraid I don’t know much detail but as the FIG are keen for Sea Lion development to proceed, they have been engaging positively and the discussions have been productive thus far. I’m guessing most of it is tax related. That’s not to say that any agreement will be forthcoming but at least there are positive and constructive discussions going on and all parties currently seem keen to ensure the project goes ahead.

I understand that Premier/Navitas/RKH are currently working with the Falkland Islands Government to further improve the project economics. FIG are keen to see Sea Lion go ahead so there are signs of progress. Whilst there is clearly little chance of project sanction in the current environment, at least positive steps are being worked on for if/when oil prices rise.