Member Info for Rktech

I know many people have criticised Arthur for not delivering and IMO the main reason was that he expected Essar to behave like genuine JV partners and co-operate.
If a JV partner was threatening legal action and you were a financier would you not run a mile from that deal. I think that this and other stumbling blocks that Essar have placed in the way to spin this out and bankrupt COPL have now failed and it's getting close to the wire now on the PSC.
It could be that they are playing ' who blinks first' which may be a valid reason why Arthur made the last placement and this may well go down to the wire as they would most certainly like to get the entire license back however it should be crystal clear to them that if there is not genuine indigenous participation they will lose the lot.
This may just be lawyers making an extra buck or two out of this or it may just be genuine due diligence. In any event Shorecan hold the trump card and as I have always maintained there is plenty for everyone here so let's just get on, co-operate and develop the license.
If there's another extension I wouldn't be surprised or even too concerned, just disappointed.

See what you've done Mr Nation. Mention that name and it appears.
Rational posting cancelled until further notice.

I don't understand why anyone pays any attention to that beardy bu11sH_1tter, his motives are just so transparent and his comments are poorly justified or just state the bleedin' obvious.
There was a video made of the famous Shard presentation in July 2016 but it was never published. Probably because the sight of PI's swilling champagne and stuffing overpriced snacks down their necks would have shown when combined with the OTT corporate ramping, what can only be described as raw greed fuelled by the company.
Malcy of course was right out there, centre stage telling everyone this was his " banker ". The interpretation of the meaning of that I'll leave to you.
He was one of the speakers before the main event of parsons saying £1/TCF and 10 quid a share and briefly mentioning the posiibilty of FTSE 250 or even 100......yes it was mentioned.
Malcy just repeated the "banker " mantra and also mentioned or I should say trashed a few other E&P stocks as basket cases........Ironically one of those was AST which five bagged from that point just six months later, only to go into decline afterwards and from September 2017 into serious terminal decline and the 100:1 consolidation.
The question many folk are pondering is WTF does Parsons expect to get out of AST ??

It's quite clear No Easy. Mr Spod's statement is saying that He was:

" tipping his mates the wink about a money making junk stock "
It's called "Irony"
BTW Mr Spod: Irony does not mean ........." A bit like iron "

There's no doubting that Mr Nation.
He would do us all and himself a big favour and recover his credibility

I guess my pessimistic view of 5Bn shares in issue turned out to be prophetic.
What is there to say ?
It's a round number for working out the Mcap ???

YEP

I've been a biker since I was 16, although there have been large gaps when I didn't own a bike. I'm only a fairweather rider in the summer and I don't take her out that often now.
In the 90's I always wanted the Kawasaki ZX750R which was the road version of the 750 ~superbike" but they were about 14k. Now you can get a used bike in good condition for as little as 2.5k.
The iconic lime green , was known as the 'green scream' or by others 'lolly wrapper' but I've always owned a kwaka and so I got this scaled down 250R version in 2008. The ninja 750R is a heavy bike and it's not for old gits like me.
She's a lovely bike and a pleasure to own but you can borrow her if you look after her No Easy

YES:

https://www.kawasaki.co.uk/en/products/archive/Sports/2008/Ninja_250R/overview?Uid=05F3WlhZXFhZWV5ZW1pcWlxcWF5aWlhQRg0GRT0j

This is Arthur talking about OPL226 in September 2017.

https://www.youtube.com/watch?v=POOvweLEmDQ

This is the interview with the 'meat in the sandwich' and 'don't cry wolf' quotes.
I really don't think he would have set himself up for a fall like that unless he really thought things were close to happening......he just didn't foresee the problems with Essar .
It's taken nearly three years to get back to this point and even though we will only have 15% and not 40% we are carried on the first drill.
When this is battened down in an RNS and doubt removed I really wouldn't want to try and predict an SP.

To expand on No Easy's post on resistivity:
Electrical resistivity is related to electrical resistance insofar as it is a proportionality constant.

Electrical resistance which is measured in Ohms can be defined as the proportionallty constant in the relationship of Voltage between two points on a conductor and the current flowing through it.
And so we can measure the parameter resistance and to take a simple case, measuring the resistance of a copper cable with a multimeter.

Voltage = Resistance x Current or Resistance = Voltage/Current R=V/I

But resistance can be related to resistivity:
Resitance is proportional to the length of the cable which is intuitive and also inversely proportional to the Area of cross section or thickness of the cable.
The proportionality constant resistivity is denoted by the greek letter rho which looks similar to a p.
So: Resistance = p x Length/Area of cross section or R= pL/A and p=RA/L.
Conductivity is defined as the reciprocal of resistivity or simply 1/p exactly analogous to frequency F being the reciprocal of time T F=1/T.
A measurement of resistance combined with the other measured variables will yield resistivity.
Oil has an extremely high resistivity whereas salt or ionized water has a very low resistivity.

Hi Bolton:
That's pretty much what they used to do back in the early part of the 20th Century when they were discovering oil for fun.
You know, those films where the drill string comes flying out of the ground followed by a fountain of oil and they all run around shouting ' it's a gusher '
We are all around the dome on the flanks of one huge anticline. The dome in the centre is where OML 83 and 85 are ( the Anyala and Madu fields........you know the one's that have more than they expected ).
Most of the gas will migrate into the dome and the oil will sit beneath this and the water at the base, hence the 'meat in the sandwich' analogy. as we also have gas that is trapped nearer the top.

Anyone sitting on the fence thinking about buying in ?........Please read No Easy's post of 11.40.

Well done mate.

Because the 3D seismic is correlated with known geology we can be sure with a high degree of certainty where the oil, water contact is and how much is there.
Art's now famous 'meat in the sandwich' , which actually is true about most anticlinal hydrocarbon traps.
On a small scale and to illustrate this look here.

https://www.youtube.com/watch?v=Reutf0hu-FM

The field needs to be proven up to have real value. This is something Arthur has a history of success with.
Even then we will only have 15% and a major would most likely want it all so not an option really unless sold to Essar.
I think keep it, develop it and bank the profits whilst working on other new projects.
That's the reason we are just the 'steering wheel' right now.

Justto put this in perspective:
This was all well known and the RNS had to be issued today because the shares are being admitted for trading tomorrow. There are also some shares held in Treasury and outstanding warrants at strike prices various.......so let's be Uber pessimistic and say we have 5Bn shares in issue and it makes the sums easier too !!
An example: Sound Energy got to 800m Mcap just because some mouse farted in the Moroccan desert and the company ramp machine hyped it with exotic geological models and champagne presentations, freebie jolly's for PI's etc.
We are sitting around the flanks of a massive hydrocarbon trap with known geology, and all we are waiting for is the word to go. 800m/5Bn = 16p/share. That's being over optimistic but we have the real deal so there's no point in arguing about nickels and dimes.

In 30 years they'll be cursing us for burning the stuff because of it's value as a raw material in the petrochemical Industry.
In any case, battery technology is still rubbish and probably always will be and there's insufficient progress in fuel cell technology to warrant installing Hydrogen outlet infrastructure.
You could always burn Hydrogen directly in an internal combustion engine but I don't see that as a viable alternative either.

Yes, many thanks for posting that Jiving.
It implies there's been a lot of interest in the bidding for licenses and the vetting process is consequently taking longer.

Best not go there No Easy. He had a company set up with a ' Mr Selfridge ' called 'Knightsbridge Investment Services' that was essentially advertising " rampers for hire " but it got found out and that was that.
He was also promoting CTAG at one time......best forgotten.
Still , when the ratification RNS drops we will have hundreds of new found friends posting stuff like " I have no clue what this company is/does/makes or anything else but everyone seems to be buying it right now so I thought I'd join in "
Bring it on.

Very happy with today's RNS and thoroughly concur No Easy.

As it's Friday.......remember this one........priceless !

https://pbs.twimg.com/media/DPvhbofXkAA9xrD?format=jpg&name=small

Jiving/No Easy/Jay
We've all been here long enough to know that Art is a dealmaker and his success at finding and producing oil in the North Sea was only cut short because the banks and bondholders foreclosed during the financial crisis.
This is such an opportunity to exploit the synergies inherent in the Shorecan partnership and for what is frankly 'chump change' , I will genuinely be surprised if Shoreline don't take part in this rare indiginous only bidding. Everything is now lining up and factor in the benefits of logistics and the current low cost of E&P services with the technical input of COPL it is the perfect storm

Results of the bidding will be out on Sunday.
There's even a countdown clock.
https://marginal.dpr.gov.ng/Account/Login

I think it would be too tempting for Art not to get involved in this but we'll see soon enough.
That's the advantage of having an experienced oilman as CEO and not some failed accountant.