Member Info for ralph2010

Its seems to be a pretty well informed piece, they have the history correct.

Dont get the max at 29%. They can still be operator with a smaller % than a partner.

Currently at £266.58m MCAP, RKH looks very juicy. Some context, I work for company with a similar MCAP and its making £30M NET a year. Imagine £200-£300 million a year.

I have never told anyone to buy or sell, unlike you, leading people to doom with fake BS knowledge. Now, you are trying to get people to sell and buy Southern Basin stocks.

2 years ago, this was dead as a dodo, until Nav got involved. I don't see what point you are trying to make.

🛢️ Shenandoah (USA, Gulf of Mexico)

Navitas Ownership: 49%

FID (Final Investment Decision): August 2021

Production Start: June 2025

Expected Peak Output: 45,000 BOE/day (Navitas share: 31%)

2P NPV10 Value (Navitas share): $3.892 billion

Status:

Drilling completed

FPS (floating production system) arrived Feb 2025

Connection and commissioning underway

🛢️ Sea Lion (Falklands)

Navitas Ownership: 65%

FID Expected: Mid-2025

Production Start (Expected): By end of 2027

Daily Output Forecast: 132,500 BOE/day (Navitas share)

2C NPV10 Value (Navitas share): $3.592 billion

Status:

Environmental and regulatory approvals ongoing

Financing plans include banks, bonds, or oil traders

🔹 Financial Highlights

EBITDA Growth (2019–2024): From $14m to $1,124m

Debt (End of 2024):

Total liabilities: $1.044 billion

Net financial debt: ~$873 million

Cash & cash equivalents: $157 million

Liquidity by End of March 2025: $275 million

🔹 Forecasts & Oil Prices

Brent and WTI oil price assumptions from FactSet (2024–2027):

WTI: ~$75–79 per barrel

Brent: ~$79–84 per barrel

Based on these prices, significant positive cash flow expected across projects

That's without Isobel. Could do with a new partner operating Isobel in parallel. But someone already said they don't think FI could support two at the time.

There has been numerous CPRs though.

They wouldn't want to produce a new report and end up saying our new report says its X less oil, so they must be doing it because they expect it to be bigger ?

You wont, is the point, its right in the middle of the USA !

If Sea Lion crude (from the Falkland Islands) is exported, it would likely be sold to refineries with heated storage and distillation capacity, such as:

Indian coastal refineries (e.g. Reliance Jamnagar – one of the world's largest, processes heavy and waxy crudes)

Refiners in China or South Korea, which purchase medium-sour, waxy blends.

Also:

✅ Uinta Basin (Utah, USA)

Crude Type: Yellow and black waxy crudes (high pour point, paraffinic)

Refineries:

HollyFrontier's Woods Cross Refinery

Chevron’s Salt Lake Refinery

Silver Eagle Refinery

These refineries have heated pipelines and insulated storage tanks to handle waxy crude transported from the Uinta Basin.

API gravity: ~26°

Sulfur content: ~1.6%

Paraffinic (waxy) crude, which requires heating for transport

Moderate acidity and TAN (Total Acid Number)

Says the person looking for help..........

It was below 30p a few weeks ago. Make your mind up MD !

Under Commitment 53 & 54 (Sea Lion Project – Resourcing, Recruitment, and Project Management), the update includes:

“New acreage fees and license renewals agreed.”

This means the Falkland Islands Government (FIG) has reviewed and agreed upon new financial arrangements concerning the area (acreage) being leased for oil exploration and production activities related to the Sea Lion oil field.

These changes are part of a broader initiative that includes:

Staffing up the Sea Lion project team (Project Director and specialists now in place),

Progress on environmental and legislative preparations,

Moving toward a Final Investment Decision (FID) expected in Q4 FY 2024/25.

Also, under Commitment 54, it is noted:

“$1.8 million from Sea Lion license to pay for DMR resources over next 2-3 years.”

This indicates the new license agreements, including acreage fees, are now providing a funding stream to cover operational and regulatory capacity within the Directorate of Mineral Resources (DMR).

That would be good. Mid-cap is more likely than BP, I think. A new operator for Isobel would be stellar. But how would they be able to value it now? A couple of holes first? Unless it's an offer they can't refuse, as is?

Making me salvate ! A partner could come in soon and take some of SL and Isobel. But, we dont know the size Isobel, perhaps that would be the main attaction. They would look to get Isobel on the cheap. Maybe there will be a couple of holes in Isobel before SL drilling ? I dont think BP would be in for SL alone if they were looking at FI. Could just take out RKH ?

Research yourself, lazy git

Look East, that was from 2010s. Chinese company ?

Will be a few 10%, 20% drops on the way to 1st oil im sure.