Member Info for pauldrayton

The deadline for an agreement was supposed to be 1st October but seemingly no news yet:

https://www.theborneopost.com/2024/09/24/petronas-confirms-not-contemplating-legal-action-against-sarawak-govt-petros/

RAB Capital reducing holdings. Perhaps reduced further today and took the opportunity on the back of the RNS this morning.

RKH are not in control of Sea Lion, so “what are they doing?” ask certain impatient posters.

This is the answer. They are doing what they can behind the scenes to protect your investment and reduce risk as much as possible. I say ‘as much as possible’ because there is of course still risk around Sea Lion FID, but they’re doing what they can for the elements they control.

Not enough CEOs of AIM companies do this.

Fair play to Sam & the board, there is now a higher floor to the potential OM outcome.

Insurance policy seems prudent although hopefully they won’t need it.

Also good to see them finally exiting the remaining licenses in Italy.

What language would you expect to hear her speak for a project that has not been financed, approved & sanctioned yet?

It would be irresponsible of her to talk in any other way as far as I’m concerned. She’s not there to calm Rockhopper shareholders’ worries or assure them that good news is coming. She’s clearly in favour of a hydrocarbon industry though which is a positive. She has to be professional though.

Looks like a sell to me at that price.

I suspect the FIG see Miliband for the imb*cile he is. No way on earth he’s going to influence them.

The FIG have made clear they are taking a different path from UKG and Labour have reaffirmed it’s entirely their decision.

A Labour government has been nailed on for a couple of years and won’t have come as any surprise to Navitas or FIG.

Business as usual imo.

I think it’s safe to say we’d all take a 3 bagger by Christmas!

I’m encouraged at the speed at which the ICSID committee dealt with the EC’s attempt to intervene - let’s see how it plays out but I’m now expecting an outcome this year. Just hope it goes in RKH’s favour.

With regards to FID, I wouldn’t be at all surprised to see that slip to mid 2025 although you never know, there certainly seems to be a lot going on in the background.

Https://www.energyvoice.com/renewables-energy-transition/560701/hopes-rise-for-north-sea-windfall-tax-successor/?

ICSID have considered and rejected the application within just 18 days. I’d suggest that means they are getting on with things. Bodes well in terms of timing, and I suspect we will see the proceedings closed in October. Then have to hope the decision goes Rockhopper’s way.

Indeed. At this late stage I wouldn’t be surprised if the ad hoc committee don’t see it for what it is and reject the submission. The speed at which they’ve requested updated and made a decision suggests they’re not in the mood for being strung along.

But what do I know?!

Did we find out who the non-disputing party was in the original tribunal? I suspect it’s extremely likely to be the same party now.

My guess would be something EU-related as well but can’t remember.

SEA is born out of the failure of LBE.

That’s nobody’s fault but management’s, including Nick Ingrassia.

Let’s hope they make amends.

Very convenient that it’s come at this stage - clearly some Italian meddling going on. Hopefully the committee deal with it swiftly.

Nothing’s ever simple!

Encouraging article. FIG confirming they want it to go ahead and Lammy reiterating that it’s the FIG’s decision.

Rockhopper hinting at Isobel too.

But but but, I thought Navitas couldn’t raise funds and FID was never going to happen?

Nowhere has it been stated that Navitas are ‘struggling’ to secure finance. That’s complete nonsense.

Of course funding the project is the biggest risk - that pretty much goes without saying so I’m not sure why some people are making a big deal out of RKH saying so.

I see the fact that Navitas are currently looking to secure finance as a positive, and the comfort letters from the FIG are clearly linked to that.

Whilst the sooner it’s sorted, the better, if it happens in 2024 or in 2025 after Shenandoah comes on stream doesn’t particularly bother me.

Whinging about it on here won’t impact the outcome or the share price.

Have a good weekend all - nothing posted on here will affect funding or FID.

Finley:

“The share price tells the story. Surely if it was all a dead cert, then the share price would reflect the true value of the company, and be considerably more than 13p.”

Do you understand the premise of buying & selling shares Finley, and why they rise & fall?

You’re making yourself look a fool again.

There has never been any ‘certainty’ - if there was then the share price would be much higher.

RKH are not in control of the financing (other than their small share) or the timeline. Sam Moody gave his opinion some time ago that FID would be more likely in 2025 after Shenandoah is in production, although he has always stressed there are significant risks.

Everybody here knows that and will/should have taken all risks into account.