Member Info for pre2rcd

Since the start ofthis week there have been a number of large buys at 8p all made within the spread though so probably being offloaded by a pension fund or similar. Someone has been willing to gobble them up though!

One thing I am pretty sure of is, if HBR have decided Sea Lion is not for them, they will not just come out and say that.

If they did then they would have to write the asset off which would impact their financials, borrowing ability etc.

They'll probably just say it's one for the future and leave it

Quite an odd day. Only 15 trades but the majority large ones and yet all within the bid and ask. The MM’s are nervous hence the large spread

The ones over 8.4 were buys for sure, the ones below 8.3 were sells, the ones in between is anyones guess.

https://www.crai.com/engagements/rockhopper-exploration-plc-rockhopper-italia-s-p-a-and-rockhopper-mediterranean-ltd-v-italian-republic-icsid-case-no-arb-17-14/

Not seen $450m mentioned before

https://www.investorschronicle.co.uk/shares/2019/10/24/shake-your-market-maker/

Good example of the last couiple of days trading

The MM's have pushed this down intentionally today as they were short of stock. If you have L2 it is quite clear.

£10 says we finish the day +ve

Yes, Sam said they chased again in mid August and had no response. The lawyers apparently advise not to chase too much and wait until mid to end sept before chasing again.

WTF has it got to do with them?

I suppose they will all make the journey in their electric carbon free cars?

Correct me if I’m wrong but I cannot see a word that has changed. Not quite sure what the point of posting it to the website

Very strange price action on L2 in the last half hour.

Six shares offered on the bid at 10.12 followed by 4 followed by 1, then closing at 10.5p!

FIG are desperate to get this field into production. I think they will eventually whether HBR / RKH are involved or not.

Highest close since 21st June, it's inching up!

Then waffles on about the ICSID and Energy Charter Treaty, nothing we don't know really

L'ISDS is a tool devised in the late 50s by German banker Hermann Abs and Hartley Shawcross, English politician and Shell consultant. The aim at the time was to protect private companies from any nationalization imposed by the many new independent states that were emerging. Today, however, arbitrations are increasingly attractive to companies that want to protect their assets from those states that are changing the rules on the use of fossil fuels. “The mechanism for Isds provides that only foreign companies, and not the local ones, they can sue the States and, above all, the extremely short period of time compared to ordinary proceedings, for such actions is not provided for the possibility of appeal, which has an outcome arising entirely from the judgment of the arbitrators, chosen by the applicant,” says the lawyer Martinez.

Rockhopper had obtained in 2014 the permission to extract gas and oil in Abruzzo, in the concession Ombrina Mare, in front of the Costa dei Trabocchi, investing 29 million dollars. Less than two years later, with the Stability Act of 2016, Parliament decided to ban any new drilling within 12 miles of the coast, and Ombrina falls precisely within this limit. From here comes the diatribe between the multinational and Rome: the tip of an iceberg, that of Arbitration between oil companies and states of half the world. A trend that is likely to increase immeasurably: "in the light of the EU's new climate package and, in general, the possible new restrictions on emissions and mining projects, there could be significant increases in the use of ISDS arbitrations," says the

Fact Antonello Martinez, president of the Italian Association of Business Lawyers.

The first millions could be disbursed in a few hours, when the arbitration award between the Italian state and Rockhopper will be filed. If the arbitrators of the ISDS (Investor - state dispute settlement) were to give reason to the British company, Italy would find itself with up to 275 million dollars less in cash. In fact, it amounts to the request made by the multinational of Salisbury, which seeks damages to the State for changing the rules on drilling.

Now 23 to 10.
Interested if anyone has any knowledge on this

Less MM's with stock to sell I suppose

On the bid side the depth is 19 on the offer it is now 12, not really sure what that means.