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Https://www.reuters.com/business/energy/harbour-energy-joins-north-sea-producers-retreat-ahead-tax-hikes-2024-10-23/

Your research skills are spot on as usual Finley! Hic

Finley keeps popping up here, making a fool of himself and then disappearing again. It’s bizarre.

Nigel why don’t you reply to Mogger’s (appropriate) question?

Given SEA have been very specific about the % of Kertang they are looking to retain, and the fact they are confident of a Q4 outcome, it suggests to me a deal is all but done. Probably just the formalities to complete before announcing.

I suspect this share price will run & run now.

It’s got to be worth 70p as a bare minimum right now, and if the Kertang deal is good then the sky is the literally the limit.

Agreed, it’s the media trying to make a story out of nothing as usual.

FIG have been in discussion with the Labour Party about Sea Lion for many years now, and have support to do exactly as they wish from across the political spectrum. This is outside of Starmer & Miliband’s remit - they have stated so themselves and that will remain the case.

There is no collision course.

Miliband is an imb*file who (alongside Starmer) will destroy this country.

I think what’s becoming increasingly clear is that the current market cap is a complete anomaly.

I suspect this could 5 bag on Kertang farmout alone. I’m not trying to ramp - I’m normally pretty depressed and downbeat about LBE/SEA but to be fair they’ve picked up some very exciting assets here.

Should be an interesting 12-24 months. This is a solid hold now.

Light at the end of the tunnel.

I have much more confidence in Menzies than Hammer.

Let’s see what they deliver on Kertang.

I can’t see Navitas farming into BOR. It’s not really what they do - they look for development-ready projects. If they want exploration then there is still plenty left in the NFB without bothering themselves with the SFB for now.

Hoping you’re onto something Alma but they’ve extended the licenses prior to FDP approval.

Only 10 days to find out anyway…

Rockhopper certainly won’t be announcing any delays because they have never set a timeframe/deadline.

Ephemeral, it was earlier in the year around AGM time. He did stress it was his opinion only and not from Navitas so we shall have to wait and see if he’s right or not.

You’re missing the point Garbled. We are talking about delays in general, rather than current delays. RKH & FIG have not given a timeframe so they can’t be accused of delaying anyway. Navitas have stated before that their aim was for FID in 2024 - Sam Moody thinks this might be pushed back into 2025 because of the delays at Shenandoah but that remains to be seen.

As I said though, delays and other issues were inevitable in the past and are inevitable in the future, regardless of when FID is. So investors here need to get used to that or sell up.

There is no question there have been delays over the years. Didn’t Pierre Jungels originally say first oil in 2016?

Whether Navitas will delay from 2024 FID remains to be seen but rest assured, even if they don’t, there will be other delays in the future. Such is the nature of investing in this industry.

Anybody getting stressed and frustrated about delays needs to remember what they invested in.

Rockhopper is an AIM-listed minnow with a handful of staff and no income. Whilst they have discovered a world-class oil field, it’s in a frontier basin in disputed waters (as far as the Argentinians are concerned) off the remote Falkland Islands where there is a tiny population and no infrastructure.

You’ve invested at a time when the Western world is focused on climate change & net zero which means many institutions, banks and governments want nothing to do with oil development.

It’s been a period of turmoil in the oil market for various reasons over the years, with highs of over $120/barrel and lows of less than €20/barrel during global lockdowns.

Make no mistake, even if FID should happen as we all wish, that won’t be the end of the turmoil. We’ve barely just begun. There will be problems, accidents, delays, poor drilling outcomes, global economic meltdowns and more.

If you’re not prepared for all that then having shares in this company probably isn’t for you.

FID isn’t certain although we are closer than ever, but getting to that milestone is not the end goal, it’s only just the beginning.

So either strap yourself in & embrace it or sell up and invest in something less volatile imo.

Https://www.scottishconstructionnow.com/articles/perthshire-firm-ships-home-kits-to-falklands

Sorry posted too soon! I think the share price drop is simply because there is a large seller in the market. We know RAB Capital have dropped below the threshold - they offloaded some shares to William Richards and they may be selling down the remainder of their holding (we will probably never know now).

Whilst the insurance puts a floor under the arbitration payout and puts RKH in good position to cover their share of the costs at FID, larger buyers/institutions are unlikely to take positions until after FID. After all it’s a bit of a gamble up until that point. Many of us here have taken that gamble and whilst there may still be some people buying (I’ve bought a few more recently), most longer term holders have probably accumulated all they wanted at lower prices through the placing and warrants etc.

So we probably have a large seller and not many buyers = share price drop. I doubt that has anything to do with the insurance deal or FID, it’s just the current state of play.

We await news from ICSID and Navitas - not much more RKH can do themselves for now.

I think the share price drop is simply because there is a large seller in the market. We know RAB Capital have dropped below the threshold - they offloaded some shares to

Alma you will be pleased to hear that Navitas have filed their accounts to 31st December 2023 already so no need to remind Gideon this time.

Target for 2024: Progress the Sea Lion project to a Final Investment Decision.