Member Info for pauldrayton

Could have been part of the reason they ditched Sea Lion. Huge deal.

In fairness to Rockhopper, whilst they may be criticised for their negotiations in the past, they’ve done a pretty good job here.

It’s a disgrace that the arbitration process will have taken at least 7 years to get a final decision, and would take quite a lot longer to secure payment. No wonder countries like Italy act the way they do, and Rockhopper should really benefit from the whole amount but in the end this is a pretty decent outcome should Sea Lion development go ahead as planned.

Don’t forget we are still 3 years away from first oil, and even further from potential shareholder returns in terms of dividends so don’t expect the share price to rise overnight.

This is still a medium-long term play with some obstacles in the way. Should Navitas proceed as we hope with securing finance & FID next year then we should see a gradual increase in the share price over the next 3-5 years but this isn’t a jam tomorrow share. The hot market money will be chasing other things for a while yet, but the foundations look strong now. No point watching the share price daily, it’s a matter of patience if you have any - if not then dabble elsewhere and try to get back in again later.

The hearing is scheduled for January and it can take anything from 1 to 12 months to hear the outcome.

Could they be warrants being issued?

More confirmation that neither this government nor its opposition have a clue what they are doing.

Shame on them.

SVM held 8.6% (second largest shareholding).

Looks like they are out completely.

Thanks Mogger, and headder for the translation.

Next steps FIG approval, rig LOI, FID and finance.

This time in 3 years Rodders!

Isn’t it plausible that if the warrants are largely unexercised, that RKH may be able to place at a higher price next year anyway should there be material progress on Sea Lion and a positive outcome with the annulment case? I guess the question is how long can they last without raising further?

This board is bad enough without borgo (BrightSpot)’s input.

The elections in Argentina are merely a sideshow and will have no impact on what Navitas are currently doing or will do in the future. If they do influence the timing of any announcements (which I personally doubt), then it would only be by a matter of weeks so it doesn’t matter anyway.

Meanwhile the Navitas Falklands office continues to grow.

Nothing new but no nasty surprises. Navitas still on track for FID next year and they are looking at all angles to monetise the OM award.

Majority of warrants remain unexercised.

RKH half year results are usually out towards the end of September so we may get a bit more info on the current status of both the arbitration and Sea Lion then.

Euribor has been above 4% for a few months now and will likely edge higher now.

This transaction won’t have any relation to Velocette. Still early days there.

The two new recruits seem very competent though and good to have on board.

“there were a lot of professional O&G guys - many working on the rigs….any supposed drilling leaks could be disguised by burying the info in impenetrable rambling posts - often in dialect”.

Yes Scottish ;-).

Could barely understand a word of those from Dundee!

gozzie (or sozzled as he was known on here because he constantly posts drunken nonsense including ****** rants) does nothing more than copy & paste what more sensible people on here post.

best ignored like the rest of the nutters on advfn - how that thread turned into the asylum it is now i will never know.

PMO spent the first 2 years doubling the cost to first oil with their TLP plan.

Must have finished its previous job earlier than anticipated. Well spotted.

Missed this one:

https://www.linkedin.com/posts/hemant-gurav-61558010_petroleum-offshore-energy-activity-7084572385302994944-g5Ww

Career Update!

I am excited to announce a new chapter in my professional journey – I have taken on a new role as a Consultant Petroleum Engineer with Navitas Petroleum where I will be working on the Sea Lion Project, helping them get to FID next year.

The many incredible years with Cairn Energy (now Capricorn Energy PLC) have flown by and I am grateful for the invaluable experience and friendships I have gained along the way. I’ve had the privilege to work with some of the brightest minds in the industry at Cairn and I’m immensely grateful for the opportunities the company has provided me; allowing me to grow both personally and professionally. The knowledge and skills I’ve acquired, the projects I have contributed to (Greenland exploration, Catcher, Kraken, SNE offshore and Egypt onshore), and the relationships I have formed have had a profound impact on not only my career but my personal life too.

I would also like to extend my heartfelt gratitude to each and every one of my colleagues and managers at Cairn Energy who have mentored and supported me throughout my journey, in particular those in the Engineering and Geoscience departments. Your guidance and collaboration have shaped me into the professional I am today, and I am immensely proud of the projects we delivered while working together.

As I start this new venture, I look forward to the opportunities and challenges that lie ahead. Here's to new beginnings!

#petroleum #offshore #energy #collaboration

When the IPO was £1 it’s a disgrace to be honest. They should be ashamed of themselves, not rewarding themselves.