Member Info for pauldrayton

Tony you make yourself look more than a bit silly by quoting something written on another board without context. My comment was nothing to do with the company updating shareholders.

Anyway I don’t want to clog this board with petty tit-for-tat arguments, that’s just childish.

My advice is stop whining and the update will arrive in due course.

Send him to ADVFN ;-)

I’m just pleased the company has better things to do than placate impatient whingers.

Let em get on with the job.

Ah fair enough SH, I wasn’t aware that was standard procedure. It would be nice to get a reason and also a likely timescale (surely it won’t take them the full 60 days) but I won’t hold my breath!

If they are going to extend by 60 days then it’s poor form to wait until deadline day (or after) to inform the parties.

No matter what you might prefer, that is what you get with AIM. Smaller companies, smaller teams, no exact dates for results.

No need for speculation - if there is price sensitive news it will be released immediately. The quarterly results will arrive when they’re ready.

I would let the company crack on with operations and stop fretting over the date of the quarterly results which won’t be any different whether they are released tomorrow or next week.

They will be released when they are ready.

I don’t think OM is “nailed on”. Firstly we don’t know whether Rockhopper will be awarded compensation at all, and if they are, what that figure might be. There is a huge possible range - from zero to hundreds of millions. Obviously we’d all like to hope there will be a big award that will positively impact the share price but I don’t think that’s a guarantee. There will even be some hope value in the current 9p and if they get no compensation then I wouldn’t be surprised to see the share price dip back down to the 6-7p range whilst we await more news on Sea Lion.

Also there has just been a placing at 7p where private investors and institutions could fill their boots and get warrants. Why would there be additional demand now? 7p-8.5p is a 21.4% rise and a nice little earner in just a few weeks for anybody who wants to take profits from the placing. You quite often see the share price hover 10% above a placing price for ages whilst people take profits, and it’s not uncommon to be able to buy back in at the placing price or below (as was possible with RKH for a while, although without the warrants).

I never expected the share price to rise much from these levels without a definitive positive result from Ombrina Mare or more developments with Sea Lion.

Sam confirmed today they’ve heard nothing from ICSID.

Doubt they will chase until Wednesday at the earliest.

Could be Navitas news before Ombrina Mare.

Major Shareholder list updated on 10th August but it still shows Blackrock and Fidelity.

No TR1s either so the mystery remains as to how they picked up over 13% of the company.

I doubt the lawyers will be willing to chase the tribunal until the deadline has actually expired so I would guess we won’t get an official update until Wednesday at the earliest and possible Thursday/Friday.

2 voting for one outcome and 1 voting for another = split decision.

It could well be a split decision either for or against RKH.

I’m inclined to agree now SH.

What a surprise that the Rockhopper case is the rare exception that gets extended!

Indeed, unless they were informed late in the day on Friday.

Who knows, I’ve given up trying to guess what’s going on really.

What will be will be.

It’s not impossible that King & Spalding have already been informed of the outcome and there needs to be some analysis of what that means in terms of the amount due to Harbour and the net outcome for Rockhopper before they announce anything to the market.

If Italy are trying to settle and avoid the award altogether then surely that wouldn’t even be considered unless the full amount has been transferred.

Alternatively Rockhopper have lost and all this is typical AIM hope that ends in misery!

I guess we will find out more one way or another this coming week.

The 120 days end on Tuesday so they will have to either issue an award or notify an extension by then.

Yes Mozza. OMV have been quite specific as follows:

46.6 days in the case of a dry well
57.9 days given discovery
36.9 days extra if they decide to sidetrack a discovery

https://hss.miljodirektoratet.no/api/1/publisert/hoering/vedlegg/19794

Google Translate is helpful!

They have farmed into the whole license so yes.

It’s not solicitors taking the risk. Harbour are specialist litigation funders, but I guess the point still stands that they will have done their due diligence beforehand.

Let’s hope they got it right.

They are cutting it very fine if they are negotiating a settlement.

Sam Moody said that Italy haven’t been interested and would rather lose and blame it on somebody else than do that.