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I don't believe the lawyers acting for RKH stand to lose a penny if they fail, but they stand to gain a lot if they win. The reason is that all these "no win no fee" lawyers insure themselves against losing a case, and the cost of that insurance is embedded into the win fee. On average they always get paid, win or lose.

Litigation funding/insurance is an asset class in its own right. Just go back to the infamous court case at Gulf Keystone where a couple of Texas hicks got litigation funding to pursue such a claim, and the litigants lost, the litigation funders lost their shirt, but the lawyers all walked away with stuffed pockets.

1.The facts of the matter are beyond dispute.
2.The sunk costs are beyond dispute.
3.Interest on sunk costs are easy to calculate
4.The lost profits are open to dozens of interpretations, including a possible Italian defence that the directors are so inept they had no hope of making any profit at all from OM ?
5. Why did the directors think they were capable of funding and operating a 100% leased FPSO development in the Med, when they were not capable of doing the same thing in the South Atlantic ?

Hugh Schofield, BBC .."If the UK starts resuming ordinary life while France is still struggling, tough questions will be asked of the president."
Macron the vaccine denier " quasi effective," not for us, not for over 65, now not for under 55 , we want more but we are not going to use it. Utter gob****e IMO.

Good evening Harry. The sunshine got me out of bed today, and since Boris allowed it, I spent the day in Cumbria on a glorious Spring day, with no data connection.

I think the days of major operators farming into the exploration success of minor operators for a free development carry are gone for now. There is a planning application underway for a potential development drilling phase at WN which the JV cannot afford, so I expect an asset sale is the way forward, once the EWTs have proven up the resources. Who might buy is the big question, because protestors will be all over it. It needs someone with a lot of bottle, thick skin and deep pockets.

RBD is an investor in oil, not an operator of oil, that is their business plan. They want a cash return not a project to worry about, surely?

The West Newton JV comprises Rathlin, Reabold and UJO, and it is they who will commission the CPR.

200: 1 share consolidation , read the RNS tab

The Suez Canal blockage will cost insurers more than all the pirates in history. Its 10% of world trade and likely to last for weeks. I hope the Suez pilot was on the bridge and not in the mess at the time.

Ying tong
What is the point of reversing into a listed company which delists and goes private to start over again with a new IPO on the main market? The cost benefit of existing listing is lost, surely.

Not too sure about that....

"Richard Meade, the editor of Lloyd's List, told the BBC that the risk of piracy to vessels off the coast of Africa had been overblown to some extent.

"Obviously, we did see a major piracy surge a few years ago off the Somali coast. That has largely been brought under control," he told the BBC. "The Gulf of Guinea is the hotspot. But I think realistically you would see ships move well outside the Gulf of Guinea as the route."

I never understood the concept of having two CEOs. Either you are the chief or not?

A bit like those two nuns on the Clapham omnibus: one nun making sure the other nun don't get none.

The von Lederhosen effect?

I really hope this works out for long suffering victims of the Minty dynasty disaster, and I lost a few quid but nowhere near the scale of Last Throw aka CT.

However looking at this from an engineering standpoint ( or indeed as a Somali pirate ) this Guardian device has some shortcomings, and some similar competition.

There is a video of marines attempting to scale it with a hooked fence ladder, the same marines trying to attach a grappling hook, and trying to scramble over the shoulder of the device and failing spectacularly all the way. But there are other forms of attack not tested.

A regular window cleaner’s extendable leaning ladder with rope anchors would have allowed those marines in the video to climb way over the parapet and jump down onto the deck of the ship. Anyone with a fishing harpoon could puncture the barrier vertically up through the parapet and have a rope access and anchor point to pivot over.

There is a press article which suggests that Lord and Lady S are obsessed with the idea to the extent they sold their house and moved into digs to fund the prototype and test it. But if the test was as shown on the video, it was not comprehensive.
Maybe Somali pirates are not that bright, but this device is not impregnable to someone with a bit of ingenuity.

The answer to piracy is to shoot them before they get anywhere near you. It is a localised problem to the east coast of Africa and to a lesser extent the Straits of Malacca. Both areas are patrolled with deterrent warships these days. It is not a global problem.

I hope it works, but Standard Listing on LSE for this? I find that improbable.

But they became ill in February before the immune response had developed from immunisation, surely? Only reported now 4 weeks later for "bad press"

That is no criticism of the vaccine.

Tigra...the voice of reason in a cacophony of nonsense.

Shareholders think they own the company. They don't, hence you can be legally goosed without recourse :-

"Critically, both in British law and theory shareholders are not ‘owners’ of the company they have shares in, and lack many of the rights and powers typically derived from ownership. In 1948, the Court of Appeal ruled that “shareholders are not, in the eyes of the law, part owners of the company”. The House of Lords strongly reaffirmed that ruling in 2003, a judgement the EU’s recent Shareholder Directive echoed. Ownership of capital – in this case, owning shares – is therefore legally and theoretically not the same as ownership of the company. Companies are not 'owned' by their shareholders but are incorporated bodies which bring together a range of stakeholders - owners and suppliers of capital, labour, suppliers and customers. In reality, no one ‘owns’ a public company. Public companies should instead be seen as institutions designed to facilitate a dense web of contractual relationships between management, shareholders, employees, and creditors, among others, each providing a mix of tangible and intangible assets."

I am minded to start smoking Capstan Full Strength again, inhaled and no filter. That should see it off.

A1b2c3
All I am saying is that there is competition, even though the company has claimed a patent on its design. Others have similar designs, so they are entering a market with existing competitors rather than having first mover advantage.

Show you a business with no competition? National Grid, United Utilities for big ones and any start up from a R&D programme as small ones.

This pirate barrier idea is already on the market by competitors such as ARX Moldings in Yorkshire.
https://arxmouldings.com

Israel is the canary in the coal mine. They have vaccinated most of the population and Benjamin is opening up society again but keeping borders closed. If that fails and COVID takes off again, there is no hope for the vaccine strategy. Even in Israel there are vaccine deniers in the ultra orthodox community, just as there are minorities here, and even majorities in parts of USA.

UAE is another canary.

Lockdowns will persist for years to come. It's like the last two world wars .

March 2020 Boris said "we can flatten the curve in three weeks", then "all over by Christmas" , now its party time on D day in June. It won't happen, it will be groundhog day for years unless we stop all incoming ships and aircraft and live like Andaman Islanders who have no immunity to anything.

Flu goes around the world on boats and planes just like COVID virus does. I can confidently say a virus does not have wings or wheels.

It's time to give up, take COVID on the chin and introduce therapeutics.