Member Info for pauldrayton

Some great photos on that Facebook page Ladigue.

Good news - quicker than I anticipated. Let’s hope it all goes smoothly for them from here.

On a slightly political but related note, Trump wants to refill the SPR.

Most US shale oil is 40+ API and the SPR crude quality needs to be 25-35 API.

Sea Lion is 26-29 API.

RKH lawyers ‘think’ they will hear the outcome in Q1 (this month) or early Q2 (next month) although nothing is certain with ICSID.

I also don’t know if RKH need their ‘full’ FID contribution to be paid up front or if it’s in phases.

Hard to see there not being an outcome from ICSID in H1 but they are a law unto themselves.

Ovets, I don’t think so. From my communication with RKH they are simply waiting to hear from ICSID but they’ve heard nothing at all since 1st October.

On Ombrina Mare, the latest (2022) rules now state that “The Tribunal or Committee shall issue its decision within 120 days after the last submission on the application”. This applies to annulment cases.

The last submission was costs on 9th September. 120 days from then was 7th January. Even if we take it as 120 working days, that was 26th February.

I was pretty confident in a positive outcome for RKH but the longer it’s taking the more nervous I get!

RKH have never outlined Italy’s grounds for annulment but I think Sam made the comment along the lines of “they’ve thrown a lot of mud in the hope that some of it sticks”. The Italian court document stated that the original decision “appears flawed in terms of manifest excess of jurisdictional power, serious violation of the rules of procedure and lack of motivation regarding a decisive point of the dispute” so it does look as though they’ve gone down several different lines and it might therefore take longer than usual to write up the decision document but it does seem to be taking them a long time.

Alma, the committee rejected the EU’s request on 1st October.

I’m not sure you’ve got this quite right Biscuit.

The decision made on 1st October was not to allow a late submission from the EC. It wasn’t a final decision on annulment.

Not sure where you’ve got the ‘delay’ element from although admittedly it’s taking them a while.

The Dupuy opinion was part of the original arbitration case and not the annulment proceedings as far as I can see - unless you’ve seen something to the contrary?

Yes I’d assume they wouldn’t hire an Operations Director if they weren’t anticipating any operations to direct! Certainly looks like they’re getting closer.

Let’s hope Shenandoah all goes smoothly and to plan.

Https://www.linkedin.com/in/charles-taylor-4640bb24?

Who knows. I think the most interesting thing is that the share price has more than trebled and there Stijl hasn’t been a single Holdings RNS.

What happens if FID is positive and the institutions start to want in?

Is it of any concern that this is dragging on for so long? Hearing was last April, post-hearing briefs submitted in June and cost submissions were in by September. I thought (wrongly) that the swift nature that they dealt with the late request by the European Commission meant the panel were likely to bring this to a close relatively quickly. I know there was never any official timeline but RKH were expecting an outcome last year and it seems to be taking an inordinate amount of time.

42p looks like a tough nut to crack but it’s a huge historic support/resistance point so if it does go then the next move could be quite quick and dramatic.

Yes it could, you’re right. It’s the way I first read it and thought they were referring to Hercules for the Falklands and Mira for Namibia (which may be the case) but it’s unclear which rig they mean for which location.

I might have read that a bit quickly and was thinking they were referring to the Hercules for the Falkland Islands but having read it again it’s unclear which rig they mean.

Well spotted. Not suitable for a BOR rig share then, which will upset a few who’ve been promising otherwise.

I don’t think hassling them will help at all.

Tamar Rosenberg, CFO of Navitas Petroleum, said: “Navitas Petroleum is proof that vision and tenacity are essential to creating value over time. Our consistent strategy was to take advantage of high-potential opportunities with a lower risk than that customarily taken in our sector, and we have selected worthy partners, operated transparently and gained the full trust of the capital market investors. The Shenandoah Project, which is nearing production, is expected to comprehensively change Navitas Petroleum. The significant Sea Lion Project, which we are currently advancing, is also expected to enhance the business growth of Navitas Petroleum. We our proud to join the “TASE 100 Club” and thank the investors that have accompanied us on our journey.”

https://mondovisione.com/media-and-resources/news/the-35-companies-included-on-tel-aviv-stock-exchange-100-club-that-achieved-a/

I think if there is a positive OM outcome then 50-55p is fair for now.

I can’t see less than 75-85p if FID goes ahead but a few bits to get in place before then.

Still looks significantly undervalued at the moment to me, albeit with some risks ahead.

Bit more on Aoka Mizu (apologies if already posted):

https://www.linkedin.com/feed/update/activity:7287016118001504256

We are thrilled to share that The Badger Company has been entrusted with the piping and structural scope for the 𝐅𝐄𝐄𝐃 (𝐅𝐫𝐨𝐧𝐭-𝐄𝐧𝐝 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠 𝐚𝐧𝐝 𝐃𝐞𝐬𝐢𝐠𝐧) 𝐩𝐡𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐨𝐤𝐚 𝐌𝐢𝐳𝐮 𝐅𝐏𝐒𝐎 𝐫𝐞𝐝𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭 𝐩𝐫𝐨𝐣𝐞𝐜𝐭.

This exciting opportunity comes as part of our collaboration with 𝐀𝐫𝐚𝐠𝐨𝐧 and 𝐁𝐥𝐮𝐞𝐰𝐚𝐭𝐞𝐫.

The project kick-off took place last week in our Ploiesti office, where teams from Bluewater, Aragon, and The Badger Company joined forces to lay the groundwork for this significant venture.

The refit and refurbishment work is slated to begin in 2025, aiming to have the FPSO operational by 2027.

With our extensive experience in 𝐅𝐏𝐒𝐎 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬, we are dedicated to delivering innovative, high-quality solutions that meet and exceed expectations. This project underscores our commitment to excellence, collaboration, and reliability.

We eagerly anticipate strengthening our partnership with Aragon and Bluewater and all stakeholders to make this project a resounding success!

Stay tuned for updates on this journey of engineering excellence.

Https://journal-neo.su/2025/01/24/on-israels-growing-influence-in-argentina/