Member Info for r1234

@Smoggypete true, but by being self sufficient in oil and gas it will support jobs in this country and we could tax the extractors and help pay for our NHS. Beats giving the money to the middle east no?

Saw some mention of this on the BOR board but nothing here. Serica have farmed into a JOG project:

"The total capital expenditure forecast for the Buchan redevelopment is estimated by the Operator, NEO, to be approximately £850-950 million (gross cost) to bring into production over 70 million barrels of oil equivalent (95% oil), with peak production rates of approximately 35,000 barrels of oil equivalent per day."

To compare to phase 1&2 of Sealion:

Capex $2.2B

Target 269 mmbbls

Peak 80k bbls/d

Sealion economics seem slightly better to me. Surely NAV should be able to find another farm in partner if they want/need.

If you exercise them (9p) and then sell straight away (12p) you are making at least 33%. Where else will you get an almost risk free 33% (and help the company finances)?

Now only £6000, reduced from £12000 last year.

https://www.gov.uk/guidance/capital-gains-tax-rates-and-allowances#tax-free-allowances-for-capital-gains-tax

20 shares at 60p = £12.00

Post consolidation = 1 share, giving 6 rights

6 rights at £1.97 = £11.82

Total invested = £12.00 + £11.82 = £23.82

Assuming TERP = £3.42

7 * £3.42 = £23.94

If the Theoretical ex-rights price (TERP) of 17.1p / 342.6p as stated in the Investor Presentation on p.15 turns out to be correct, my calculations make the break even price 60p today assuming you take up all your rights.

https://ir-news.synthomer.com/downloads/A.4.%20Investor%20Presentation.pdf

Italy pays bill for tourists' dine and dash:

https://www.bbc.co.uk/news/world-europe-66548487

"The Italians respect the rules and pay off their debts and we hope that episodes of this kind will not happen again,"

You see! RKH have nothing to worry about regarding the OM monies :-)

All the more reason to get FID done before the next elections.

Presumably power from the grid is cheaper than generating it themselves, so seems a good idea. Presumably they will also be keeping their generators as a backup. I see no problem here.

I fully expect all of the warrants to be exercised in due course. It's free money (at the current SP), the holders would be bonkers not to.

I don't know why people are surprised. We are part of a global economy and Britain will find it difficult to compete until the rest of the world has caught up with where we are now. Our standard of living will go down as we lose out to countries where the cost of business is less. Barring some miracle boost in productivity we should expect things to get worse. I think some BoE official mentioned this a while back and was vilified by the media, seems to me too many people have their head in the sand.

And an answer to the waste removal question:

The Centamin fleet mined 36Mt of waste in H1 2023. The waste mining contractor mined an additional 22Mt, resulting in the total contracted 120Mt programme being approximately 70% complete, with scheduled completion mid-2024.

I see they have hedged about half of their production?

Gold price protection programme implemented for the twelve months to June 2024, with the purchase of put options for 240,000 ounces of gold at a strike price of US$1,900/oz

Divi 0.92

A US court has ordered two precious metals companies to pay almost $146m (£115m) after more than 500,000 American Silver Eagle coins went missing.

https://www.bbc.co.uk/news/business-66094057

How is this different from paper gold?

A bit more from the Rockhopper results:

Whilst our focus is very much on getting Sea Lion up and running, we continue to work up prospectivity in the SFB where we have what we believe to be a direct analogue feature to the large Darwin discovery held by Borders & Southern Petroleum in adjacent acreage. Between what has been discovered and appraised and what can be inferred, the Company believes the Falkland basins represent a long-term, world-class resource, and the key to unlocking it is getting to FID on Sea Lion.

They are offering 8M JHI shares for ARG. Do we know what proportion of JHI that is?

From page 10:

Potential for project expansion
Other fields near Sea Lion (14 exploration and appraisal drillings)

Average broker estimate 33p? (dated 23/04/23)

https://www.nasdaq.com/articles/rockhopper-exploration-lse%3arkh-price-target-increased-by-8.86-to-32.90

Rockhopper Exploration (LSE:RKH) Price Target Increased by 8.86% to 32.90

Revenues were higher than last year, but I can't see from the numbers presented where all the money went. Can anyone enlighten me?