Member Info for pauldrayton

Lighten up Oil_Up, a conman can never fool a fellow conman.

I’m in Romsey so let’s fight it out in the rose garden at Mottisfont.

If you win I will transfer all these shares into your name.

Put up or shut up.

Many thanks to all of you who’ve signed up today - the response has been overwhelming. I think I’ve processed all your monikers DEM - the more the merrier.

For those of you asking for receipts or formal confirmation that the shares are still yours, this group is based on trust so please take my word for it. I cannot meet any of you in Hampshire because I’m based in Nigeria but you can always get a flight to Lagos.

Given the influx of shares today, and with more anticipated over the weekend, I suspect I will be sending a TR1 to the company next week and will appear on the Major Shareholders list.

Boboil you can indeed send cash - there will of course will be running costs and as I’m now acting as a fund manager there will be a commission element but it’s worth it to bring our collective ownership into one account and ensure we vote as I want.

Don’t be fooled by the other pretenders, they are not to be trusted.

Together we stand.

Insert fist emoji.

Right I’ve set one up. Please email me on my username at hot mail to secure membership.

Payment for entry will be 10k Rockhopper shares (to prove you are a legitimate shareholder), and your remaining shares will be held in my account to ensure we are united and vote together.

All members will have a vote on group actions equal to their shareholding in my account, but I will have the final decision. This is to ensure we are united.

Rest assured this is legitimate but no discussion can take place here anymore - an email group will be organised and all usernames/accounts on here must be deleted.

Together we stand.

There really is no point in secret offline shareholder groups. There is an open messageboard that we are all using here, and where all opinions can be shared out in the open.

No need for cloak & daggers behind the scenes stuff where some people might be vulnerable to manipulation.

If you’ve got something to say, say it here and we can all debate it.

I’m sure there are plenty of lurkers and if a bid or takeover attempt did ever arise then others could join in the discussion here too.

In the meantime it’s pie in the sky anyway. A risk, of course, and one we might face at some point, but there is no offline discussion that can’t be had online here.

I disagree regarding funding and don’t think Rockhopper can fund the whole process (including fighting the annulment proceedings and enforcing payment) from their current financial reserves.

I asked the company about it this afternoon and the response I got was “there are no current arrangements in place but we are considering a number of options”.

I suspect they will now wait to see how the next 30-40 days go before making any decisions on how to proceed. As I have said a few times though, I think they will settle at a discount if Italy are willing.

I suspect the enforcement proceedings and court fees as well as the legal costs for the rest of the annulment case will be more than Rockhopper can afford.

So I would agree a settlement now to get it over & done with, but let’s see what the next update is, probably mid June now.

Yes but Rochopper do not have the money to pay the legal costs, so that means yet another placing, or a funding arrangement. I don’t think anybody wants more dilution, and a funding arrangement will mean giving away a % of the award I suspect.

I certainly think Rockhopper will/should offer to settle.

Whilst they shouldn’t have to give up a % of what they’re owed, and I suspect Harbour will want paying in full, it might still be better for Rockhopper to come to an agreement and take less for a quicker payment. The legal proceedings will start to cost them money now, and a funding agreement will be required which I guess would see them take less of the award anyway. And enforcement will take time to go through the courts etc, plus the costs of that too.

If Italy agree to pay 80-85% now I’d take it, but given how they’ve played this so far I’m not convinced they will.

It will be very interesting to see what happens over the next 30-40 days. I think the committee has made a very sensible and practical decision which is encouraging. It would be nice to think that Italy might settle, but I won’t hold my breath. I suspect they will kick and scream at every turn, so Rockhopper had better start preparing for enforcement. I’m not sure the committee would have the authority to dismiss Italy’s annulment case completely if the two parties can’t come to an agreement - I guess they would just lift the stay? Does anybody know on that front?

I think we will see the share price constrained by warrants for now. Warrant holders can currently sell placing shares at 11.5p and have until the end of the year to exercise more at 9p. 28% profit which the institutions involved in the placing will be more than happy with.

Still, nice to see some progress and at least Rockhopper can get the enforcement ball rolling soon rather than having to wait until the end of these proceedings.

Well I think that’s probably as good as we could have hoped for.

https://eresources.hcourt.gov.au/downloadPdf/2023/HCA/11

https://thecorner.eu/news-spain/spain-economy/australia-like-uk-authorises-seizure-of-spanish-assets-over-non-payment-to-renewables-investors/105406/

https://www.linkedin.com/posts/anna-roberts-76616242_full-job-description-and-apply-here-activity-7049699986313228289-iyCj?

And don’t forget Isobel. You can double those numbers.

Well I’m expecting an ICSID update next week. This committee has been quite hot on sticking to the timetable so I think they will issue a decision by 5th April.

I have no idea what they decision will be(!) but I think we will hear this week.

Not even a mention of oil & gas. What have we done to ourselves? Can’t even have a sensible conversation anymore about energy. Well anything to be honest.

I’m also half expecting a damp squib tomorrow, but there must be some facts & figures as well as dates soon because they cannot continue with uncertainty.

I’m sure they are under pressure from Equinor & Ithaca as well as others, and they won’t make Final Investment Decisions until the financial implications are clear.

The government shouldn’t have imposed the windfall taxes in the first place because now they will get hammered if they try to relax them and they are so concerned about PR they let it affect their policies.

But they’ve dug themselves a hole and they are going to have to dig themselves out of it.

I don’t think they can get away with ifs, buts and maybes. The industry needs clarity, and fast.

Haha, just about sums it up perfectly!

https://vimeo.com/812137726

Some may expect a dip if the committee extend the stay.

Some may sell their 9p warrants at a profit prior to conversion.

Some may see a long wait ahead now with no material news for a while.

Some may think Sea Lion will never get sanctioned.

Some may see better opportunities elsewhere.

Some may need the money.

Many possible reasons I guess, although I’m personally tempted to drip more in at these prices.