Member Info for r1234

As others have said, the SP is moving mostly in line with the oil price just like other oil companies.

https://www.google.com/finance/beta/quote/RKH:LON?comparison=BZQ26%3ANYMEX%2CBP%3ALON%2CHBR%3ALON&type=line&window=1M

"the little fat lady still owns the Victory bar"

pmsl, I hope she doesn't read this BB.

19 Commitments

The Group Production License commitment is to drill one exploration well before 31 December 2026. The Company is seeking

further funds to drill this well but, if it cannot before they are due to expire, the Company will seek to extend the Licenses.

Even if they managed to find the funds, probably zero chance of getting a rig down there and drilling a hole in six months. They will be looking to extend the licenses.

O.T. @strictlybricks Where do you think the cycle is with house builders? Obviously they depend on what's happening in the wider economy, but generally I'm expecting interest rates to trend down and make mortgages cheaper.

Now that the SP is above 80p I wonder if any warrants have been exercised. I think there are potentially 50m, so that would be an extra £40m for RKH.

What is the comparison for reserves, i.e. oil in the ground?

It's a non story. Trump will be out of power by November and out of office by first oil.

Presumably because you are a premium member?

I've just noticed that your post shows the live price rather than the 15 minute delayed price that is on the main page.

Further on in the Hebrew part (min 33) they state that they are considering exploration wells after the first phase and that "there are enquiries from significant international companies that are considering entering the project. The partnership will consider brining a strategic partner into the project that could contribute to igniting the next stages of development"

Ii have returned funds to my account.

Search engines are your friend.

Upgrading reserves from 2C (contingent resources) to 2P (proved plus probable reserves) enhances a company's asset value and financial stability, as 2P reserves are considered commercially viable and can be included in financial reporting. This transition also increases investor confidence and can lead to better access to financing and investment opportunities.

valeuraenergy.com Wikipedia

Benefits of Upgrading Reserves from 2C to 2P

Upgrading reserves from 2C (contingent resources) to 2P (proved plus probable reserves) offers several advantages for oil and gas companies. Here are the key benefits:

Increased Financial Value

Higher Valuation: 2P reserves are generally valued higher than 2C resources. This is because 2P reserves are more likely to be commercially viable and can be produced with existing technology.

Attracting Investment: Companies with higher 2P reserves can attract more investment. Investors prefer proven reserves due to their lower risk compared to contingent resources.

Enhanced Operational Planning

Improved Project Viability: Upgrading to 2P indicates that the resources are not only recoverable but also economically viable, allowing for better project planning and execution.

Access to Financing: Financial institutions are more willing to provide loans or funding for projects backed by 2P reserves, as they represent a more secure investment.

Strategic Growth Opportunities

Increased Production Potential: Transitioning to 2P allows companies to plan for increased production, which can lead to higher revenues and market share.

Longer Asset Life: 2P reserves contribute to extending the operational life of a field, providing a longer timeline for revenue generation.

Regulatory and Reporting Advantages

Compliance with Reporting Standards: Many regulatory frameworks require companies to report their reserves. Having more 2P reserves can enhance compliance and improve the company's standing with regulators.

Market Confidence: A higher proportion of 2P reserves can boost market confidence in a company's resource base, positively impacting stock prices and market perception.

Upgrading reserves from 2C to 2P is a critical step for oil and gas companies, leading to enhanced financial stability, operational efficiency, and growth potential.

RKH currently up 5% though

AFAIK FIG have been giving out fishing licences in their territorial waters for years without issue. It's just another resource like oil. /shrug

They are setting some aside upfront. From the RNS:

"The remaining proceeds will go towards the contingent early project failure decommissioning funding requirement, which Rockhopper currently estimates its net cost to be approximately US$25 million, and other ongoing working capital requirements"

If FIG want government advice on oil & gas they should be talking to Norway :-)

"Capital Gains Tax (CGT) on the sale of all residential properties, including main homes."

I've never heard anything so stupid. If you have to move home (because of a change of job or any other reason) you wouldn't be able to afford to buy a replacement.

I thought that decom costs were paid to the government up front so that the funds were in place in case the company went bust. These are returned to the company when they do the decommissioning?

"And it makes good sense really, just in terms of saving money from the future dividend"

I'm not sure that is true. Don't they declare a total amount available for the divi and divide that by the number of shares? Less shares will just mean a higher divi. Of course they may decide to reduce the total /shrug.

At minute 12:30 in the FITV link that Mogger posted it said that the date was put back.

"There are a number of key major projects that are reaching critical decision points. The dissolution of the current LA would have a detrimental effect on these projects and could lead to them being set back. In order to keep the current momentum and to ensure that decision making is able to take place by elected members, it is felt that the best way to achieve this is for there to be an amendment to the election schedule."