Member Info for r1234

I was a remainer, but I don't know why people keep harping on about this. We are where we are and as a country we need to stop complaining, pull together and make the best of it.

They sold about 9.5m by my calculations and yet the SP still went up.

So the award is pre-tax and might be 111m euros after tax it seems?

Not sure the war in Ukraine is driving the gas prices. Gas was already 300 in Oct 21, it is now less than that. Check historical gas prices here:

https://tradingeconomics.com/commodity/uk-natural-gas

The war has definitely caused some huge spikes but I don't think it's the underlying cause.

You may like to take a look at HBR (old PMO), but DYOR. To me they seem very undervalued, but the market is usually right.

Capital markets day tomorrow, let's see what they have to say
https://www.synthomer.com/investor-relations/financial-calendar/

Thanks mike33

I realise that it's all marketing hype, but I did like the following quote (and I'm assuming they are referring to RKH):
"During the next 6-12 months (and possibly as soon as the next few weeks), the stock is likely to experience a change in perception and narrative."

A more balanced opinion:
https://www.youtube.com/watch?v=hk-0qJXyido

Half year results should be out soon (before the end of the month).

Italy only have 90 days left to go for an annulment (it will be almost Christmas eve by then), I guess they'd leave it until the last minute. Hopefully they won't and it will be a happy new year :)

"Large gold discoveries will be announced in the next month in Egypt, Hassona revealed."

Shouldn't we be told the facts via an RNS rather than some vague rumour to the press?

Not quite the same as Euribor, but ECB rate up .75 to 1.25% today.

https://www.lse.co.uk/news/RKH/canaccord-genuity-raises-target-price-on-rockhopper-exploration-x497f9tzvgqe9cg.html

Analysts at Canaccord Genuity raised their target price on oil and gas firm Rockhopper Exploration from 24.0p to 40.0p on Monday following the group's Ombrina Mare arbitration award success.

Looks like she was worth a penny on the SP :)

I'm hoping FID will be sooner. I don't think Nav have been sitting on their hands for the last couple of years. But on the other hand everything with this project seems to take longer than expected.

FID maybe in 18 months and first oil 2 years after at the earliest, so 2026 maybe?

If they ever develop the south basin you might get your money back. But we have to cross the sealion bridge first. I'd let the £35 ride and see how far they go.

https://rockhopperexploration.co.uk/wp-content/uploads/2016/04/RKH-Annual-results-for-the-year-ended-31-December-2015-130416.pdf

On the 8 April 2015 the Group agreed binding documentation ("Tax Settlement Deed") with the Falkland Islands Government in relation to the tax arising from the Group's farm out to Premier.
The Tax Settlement Deed confirms the quantum and deferment of the outstanding tax liability and is made under Extra Statutory Concession 16.
As a result of the Tax Settlement Deed the outstanding tax liability was confirmed at £64.4 million (US$95 million as at 31 December 2015) and payable on the first royalty payment date on Sea Lion. Currently the first royalty payment date is anticipated to occur within six months of first oil production which itself is estimated to occur in 2020 (assuming Sea Lion project sanction in mid-2017). As such the tax liability has been reclassified as non-current and discounted to a year end value of US$47 million. The effect of this discounting is a tax credit in the period of US$55 million. The unwinding of this
discount is non-cash and has led to a finance expense in the period of US$4 million.
The tax liability may be revised downward if the Falkland Islands' Commissioner of Taxation is satisfied that either (i) the Exploration Carry from Premier is utilised to fund exploration activities in the Falklands or (ii) any element of the Development Carry from Premier becomes "irrecoverable". Whilst the Company is entitled to benefit from the full Exploration Carry from Premier during the 2015/16 campaign, no adjustment in the tax liability has yet been
recorded as this is subject to agreement with the Falkland Islands' Commissioner of Taxation.

I think the tax amount was later reduced a little.

I believe that it has something to do with tax RKH owe to FIG which has been deferred until production. As part of the agreement for the deferment, RKH can't give cash to shareholders until the tax is paid.

Presumably the award is for lost profits and not lost turnover and therefore not subject to tax?

Assuming RKH had made money from OM would they be taxed by UK or Italy? With the windfall tax only UK production is subject to it.

https://www.malcysblog.com/2022/08/oil-price-rockhopper-arrow-coro-deltic/

"This is an outstanding success for Rockhopper and brings forward the development of Sea Lion where Navitas are, I understand, keen as could be to get on with things. As for the valuation of RKH it should show a clean set of heels to the pack, after all at $100 Brent Sea Lion looks like a dream."