Member Info for Santos1

Thanks Paul, you have answered the question.

LTT, I think you must be right. I was thinking the same thoughts myself when I read the recent A1 projections, but hadn't got round to doing my own research.

Good if this could be clarified at the AGM.

The bottom line is that Ripley recommends slicing and dicing leveraged trades in a volatile stock ( why else is he telling us?) . This an investment strategy that used to be referred to by professional traders on Wall St. as 'chopping your legs off at the knees' . That's his choice, and of course I respect that, but it beats me why he thinks such trades could be of any possible interest to a chatroom of very evidently predominantly long term holders.

AC's attempt to decipher the Ripley gibberish has prompted me to have a go. My best guess is that it describes a leveraged trade to buy RKH at 51p in an ISA. However HMRC rules prohibit the use of leverage in ISAs, and the rules haven't changed recently to my knowledge. So it sounds like another fantasy trade. But it also could be interpreted as bragging about breaching HMRC rules. Can I add my voice to the others and request this person to find some other chatroom to give his unsolicited 'investment advice'?

Great find, thanks Paul.

Grim tells us : ' The odds on getting funding are vast....bite their hand off' etc

'Odds on' means that an event is very likely to happen. Up to now you have been claiming the opposite, from your position of total ignorance.

Mental confusion is setting in badly - you need to get out of the bedsit more.

LOL

Go then, and please don't come back !

Grimsby's 100th ( or so) negative post in 30 days:

' And met many a charlatan along the way'.

You would be able to recognise one, that's for sure !

' Im not concerned about the share dealing only the fact I spoke to someone months ago who had great reservation about whether the financing would happen etc'

I bet he didn't work at the bank arranging the financing.

LOL

'Speak to people who who work at institutions. Make your own judgement. The weakest director has blinked and sold some'.

As someone who worked in an investment bank for most of my career, perhaps I can make a comment.

Share dealings by directors in listed companies are strictly regulated. The Stock Excchange developed the Model Code in order to prevent directors , other employees and those connected with them from abusing , or being suspected of abusing, price-sensitive information. The Code prevents directors from dealing in shares when in possession of price-sensitive information or during any period when the person responsible for giving clearance for dealings has reason to believe that the proposed dealing is in breach of the Model Code. ( The Chair of the company is the person who authorises the dealing. )

There is an exception to the strict rules if the director is in severe personal financial difficulty and can prove it but the full circumstances of that would need to be disclosed to and examined by the Stock Exchange. Given that the director in this case has sold a small percentage of her shareholding it is evidently unlikely that this is the situation here.

The only fair and reasonable conclusion is that Alison Baker has no more price-sensitive information than you, me or anyone else in this chatroom.

Anyone interested in this story ? -About 10 years ago before I retired I used to go after work to an evening class in London. It turned out that a very nice middle aged lady on the course was married to a very senior naval officer- and I mean very senior. We invited them round to our place for dinner. I asked him whether Argentina would invade the Falklands again. He replied: ' We will never be caught by surprise again. Let's see if they have the b.....s to try it '. Firm end of the conversation.

I think the good people of the F.I. can rest easy in their beds, imho.

'Shame if Alison is re-elected'.

Personally I think it's a shame comments like that can be made about a director by someone who clearly has no knowledge of her contribution.

I have just checked the company's home page. Alison Baker is an independent director of 25 years experience in the provision of audit, capital markets and advisory services. She previously led the UK and EMEA Oil and Gas practice at Pricewaterhouse Coopers and prior to that the UK Energy , Utilities and Mining Assurance practice at Ernest and Young.

The willingness of someone with that experience to serve on the board speaks volumes to me about the huge prospects of this company.

IMHO.

Dumbest: ' No Finance '.

Fact Check: The cornerstone bank for the syndicated project financing has been appointed.

Q. Market -Dealer asks how RKH will get the funding and says this is a genuine question. ( ??? Perhaps this poster hasn't had time to read yesterday's final results- too busy trolling? Or can't understand it ).

A. Start at the paragraph which explains that RKH benefits from a pre and post FiD loan from the Operator covering two thirds of its Phase 1 contribution requirements. Then scroll down to the paragraph explaining possible sources of funds to fund its remaining contributions, which will range between $64m and $88m. They include , but are not limited to, proceeds from the OM arbitration of $62m ( or from the insurance policy in place to guarantee a min. $31m) , $20m from its balance sheet, a convertible issue or other project based finance, or a farm-out.

Personally I agree with ZYX098 that some sort of reserve based lending for RKH's 35% share of reserves will be highly doable.

Yet another piece of disinformation from Grim: ' Its always funding that kills the dream'.

Are you unable to understand a company announcement which has just told you that the RKH funding requirement is approved in principle?

And do you really think that the sum required couldn't be financed by any one of loads of international banks?

M-D says: 'The chickens have come home to roost'.

Indeed they have !! Months of talking down the company's prospects have turned out to be ignorant trolling.

Bad luck to you and your friend from Grimsby.

Latest disinformation from Grimsby: ' They know full well leaving money in RKH is dead money'.

We know full well that 1. you are incapable of reading or understanding company announcements, including the very positive Q1 results from the Sea lion operator today, 2. have never been involved in a major project in your life , so have no idea how much work is going on behind the scenes, and 3. have never shorted anything in your life.

Whenever there is a lull in the news flow the sad obsessive trolls come out- its the same in virtually every share chat room, unfortunately.

To answer the question why are they here:

1. They can't be shareholders - only an idiot/ total amateur would be holding shares in a company if he/they have a low opinion of its prospects and/or management.

2. They can't be trying to manipulate the share price downwards for a cheaper entry point - professional investors don't buy shares in companies they have a low opinion about , whatever the price.

3. They may have lost money, so they have an axe to grind. Total amateurs abuse the management rather than learn from their mistakes.

4. Re the comments I have read from Grim/M-D, there seems to be an obsession about management remuneration increasing when production starts. Envious time-wasters are a well-known phenomenon at AGMs- I have attended many over the years, and seen many such sad individuals. Get a life.

5. He/ they are not short-sellers - the comments I have seen reveal total ignorance about the mechanics, terminology and risk profile of short-selling .

Which leaves obsessive trolling. Its a sad addiction- but thats why they are here.

Grimsby/ MD etc- : ' I only post facts'.

The fact is you have never shorted anything in your life.

All hat and no cattle, as they say in Texas.

Market Dealer/ Grimsby/ other alias says ' Plenty of oil in the North basin but RKH has no money for SL let alone the other prospects'.

In that case go short and get on with it.

Pity you have no idea how to do it.