Member Info for pauldrayton

All progressing but some issues with weather & infrastructure delays, increasing costs and volatile prices:

“full-year 2022 net operating income ("NOI" = revenue minus royalties, opex, transportation and processing) is now forecast to be approximately USD 200(1) million (based on current strip), versus previous guidance of USD 241 million”

Will join you tomorrow.

Possibly. Probably. But who cares? £7 by Christmas?

Harbour looking at M&A in different jurisdictions.

Looking at their results today (whilst fantastic), I think they made a massive mistake ditching their Falkland Island licenses. What are they going to find now with the same metrics?

I actually think Harbour would have been a good partner (far better than PMO were) but nevermind, I’m sure Navitas have plans in place to accelerate things and possibly bring in another party. I think it’s worth another shot at UKEF support once Truss is at the helm (she understands), and in the meantime we can look forward to the “imminent” completion of the Navitas deal.

Excellent day today and hopefully the start of a significant re-rate. I managed to buy a few at 300p & 330p but am only just in profit (ex PMO holder!).

I do think they’ve made a massive mistake ditching Sea Lion & the Falkland Islands but given today’s results it’s hard to criticise. Should be much more upside to come just on current fundamentals, but once Timpan is evaluated and more potential M&A on the cards the sky really is the limit.

At long last people are starting to realise that energy runs the world. Let’s hope Liz Truss reverses the energy levy, but at the moment the future looks bright regardless.

I do think there will be some turmoil to come as the world is staring at a massive recession - demand destruction is inevitable, but underinvestment in fossil fuels is a problem going back to 2014 at least and it won’t resolve overnight. Those who think a resolution to the Russia/Ukraine issue will solve the problems don’t understand the energy market - the world needs much more investment in oil & gas and a debt free Harbour is very well placed for the next 5 years at least.

Rockhopper meeting their lawyers to go through everything tomorrow and plan next steps.

Apparently there are 200 pages of the report to go through.

Keith Lough will have had some experience with Cairn, although I’m sure Harbour are well aware of what needs to be done if enforcement is necessary.

I know they settled in the end but wasn’t the Cairn process quite quick once they started legal proceedings?

You could argue that having hundreds of millions in debt accruing interest over the next year or two might be in better hands than sitting in the company coffers & getting blown on hobnobs ;-)

Profit taking is totally understandable but this does currently offer an opportunity to literally buy ‘free money’ it seems. This was one of the riskiest shares to buy at 7-10p but looks an absolute bargain now for anybody who wants in (or more).

He’s insolvent.

Can we see what Dupuy’s opinion is yet? Are the documents online?

Fair play he predicted this outcome would arrive on the bell.

Not sure anybody was predicting a unanimous decision though.

Euribor forecast to rise though so the Italians would be better off paying sharpish because with compound interest the debt is going to get larger and larger.

Does the company need to announce when a certain number of warrants have been exercised? So they can be counted as part of the share issue?

Anybody know how it works?

122million placing shares at 7p are now up 120% and 61million warrants at 9p are now 72% up, plus all those bought in that range over the past couple of years.

No surprise to see some profit taking, especially for those shares that have doubled over the past few weeks.

This news will take time to settle in, and I would expect some churn for a few days at least. Would be nice to see 50million+ volume today.

Once the dust settles though, this should re-rate. Italy will pay up either voluntarily or by force and the longer they take, the more Rockhopper get.

Now bring on the Navitas & Sea Lion updates. Who knows, with Liz Truss UKEF support might even be back on the table!

Probably the most exciting time for Rockhopper since before the PMO farm in.

Harbour are experts at this. They didn’t fund the process for 5 years to let Italy off the hook afterwards. If Italy don’t pay up then they will enforce it.

A unanimous decision is also very interesting - not what many on here expected.

As tempting as it is to bank some profit (and congrats to those who are doing so), after waiting 12 years for Sea Lion and 5 years for this award, I’m happy to hold and wait for the money to arrive and see Sea Lion progress to first oil.

Play it again Sam.

Meep meep.

It’s full of stars.

Every little thing, is gonna be alright.

Choo choo.

Etc!!!

On a serious note what fantastic news for long suffering holders.

If SecretBluePrint is correct they might issue the award this afternoon as late as possible, in which case there will be an RNS detailing the award at 7am tomorrow.

If DEM is correct and they are waiting on the Italian elections then I suspect King & Spalding will chase the tribunal tomorrow if they haven’t heard anything and we will get an extension RNS at some point over the next couple of days.

The Alberta natural gas price is probably weighing on the company share price more than a couple of weeks here or there waiting for quarterly results.

They are paying a monthly dividend which should please even the most impatient of shareholders!

Only messing with you Tony - no hard feelings.

We don’t have to discuss things all day every day though. It’s fine to be quiet and patient, then discuss any relevant news as and when it arises.

Should be plenty of newsflow in the next few weeks with quarterly results and Serenity spud/results.

Grow up Tony. I would point out my post got more likes than yours but I won’t stoop to your level ;-)