Member Info for SpaceHoppa

''please wear the clown outfit so we can recognise you.'' ha h a ha, i nearly spat some tea out 😂😂

however i feel it's better not to fill the forum with so much tit for **** twaddle.

Looking at the charts, we are in the middle of the rising and slightly narrowing trendlines. Unless something unexpected happens, I now don't see us going below 50p and if anything with the news flow, we are much more likely to drift upwards towards 60p and I feel, break above top trendline and into the 60's in the next month. OM news etc could see that happen any day.

I don't like the examples Rock used in their finals to predict the likely cash requirement for FID, they weren't in line with what Navitas had told them, ie $1b senior debt, $400m equity portion. Under those screnario's Rock need $47m, not $64 to $88m. Rock will need funds for none FID costs of course. The OM award is important, but not crucial. Eur31m covers pretty much FID costs, Eur65m and that all but eliminates any small chance ii's had of squeezing 20 to 40m cheap (50p+) shares out of Rock. I have no doubt once FID happens, ii's will want to build a position, but they would be forced to buy in the open market, putting upward pressure on the SP. For them, manoeuvrings for an new paper would be their preferred option. Perversely the FID delay helps Rock giving them a longer period to see a higher SP and for ICSID coma guys to waken.

BTW, I don't expect any director purchases before FID as will they know too much about back ground information with for example, what is happening about the debt finance ect. Think directors should pull their fingers out an announce the AGM date though!!

Good to see a few, albeit not mainstream articles, appear about Rockhopper and the Falklands upcoming oil industry. The more coverage, the more likely we have new investors. The forum seems to have a few new posters arriving as well. Once we have FID, it will be splashed all over the MSM and British Bashing Corp, SlyNews will trot out all the climate change nutters saying how bad it is.

We don't know the future, however after digesting the good info of the RNS, and the disappointing delay of 3 to 6 months, I suspect the SP will start to creep back up again as investors realise the huge potential and the relatively short time span. Shenny first oil, the new resource report for Rock shortly, and the AGM plus OM award decision whenever that snail moves, should all help keep interest as we while away the days until the all but certain FID.

Hope you manage to get back in Rot at somepoint to renew the journey, and perhaps come to the AGM and speak to SM directly👍

Good for you Rot, and thanks for "confessing"🤔

I'm up to my neck on Rock, and it is a great "problem" to have, however I sleep very well at night. Why, well putting aside Navitas's 100% commitment to Sea Lion and $67m spend so far, its the fact life of field costs are sub $25/bbl, POG is $63/bbl, there's just too much profit to be made, and Sea Lion is just the tip of the new oil province!

🛢 🦭

Sea Lion project + Sea-Lion Project (loans to RKH) Page 11

https://www.navitaspet.com/wp-content/uploads/2025/05/%E2%80%8F%E2%80%8FNavitas-FS-Q1-2025_eng_.pdf

Not for everyone, and I haven't touched my core holding, however trading can make you some money or acquire shares cheaper IF you're lucky.

EG I posted I'd bought 20k on the 5th of May, Yesterday I sold them knowing my core was safe, but today allowed me to buy back cheaper. Result is 20,000 at 48.2p. I was lucky and it could have gone against me, but it does sometimes work 🤞

Price.....Amount......Cost

53.55... 20,000... -10,723.45 ...12 May

55.54... 20,000... 11,094.55....28 May

52.66... 20,000... -10,545.45...Today

Regarding funding for FID. It was of note that the scenarios used in Rocks funding examples we're all a bit Carp. EG project cost was US$1.25/1.5/1.75billion and debt financing US$700/900/1000million. Navitas yesterday confirmed they hope for $1000m senior debt finance and Capex still of $1.4b.

As has previously been worked out, Rock are likely to need less than $50m for FID. Have $20m in cash, have a guaranteed $31 to 65m from the OM case. That's $51m to $85m once OM drops!!

I will ask at the AGM if at FID, all their contribution needs to be in place and ring fenced from day1, or can it come later?

''in order to provide the most stable platform for that financing to be completed, the existing reciprocal pre-emption right contained within the Joint Operating Agreement ('JOA') that operates at the asset level, has been extended to cover a **** corporate change of control.'' Anyone have an idea what that might be about??

''Discussions are also currently ongoing for the provision of a suitable drilling unit.'' One would have thought as much, however I can't remember Rock mentioning this before.

''Falklands Capital gains Tax ("CGT")

Rockhopper is in discussions with FIG to come to an agreement over the deferred CGT arising from the farm down to Premier Oil in 2012, as the current arrangements make the Sea Lion financing significantly more difficult.'' FIG being d!cks again about a tax liability that Rock didn't receive !!

Just a few observations as I see it. Navitas are seeking $1B ''by providing two identical and parallel private non-recourse loans'' Observation.

Many banks do not offer non-recourse loans. It leaves them vulnerable to losses if their customers default on their loans and their collateral proves insufficient. It has no claim on the borrower's other funds, possessions, or income. While potential borrowers may find it attractive to hold out for non-recourse loans, they usually come with higher interest rates. They are also generally reserved for individuals and businesses with stellar credit histories....So possibly 2 x high net worth individuals/private companies for the bulk of the $1.4B costs.

''The partnership is also exploring various options for financing the equity component including examining obtaining a bridge loan until the refinancing of Shenandoah's project financing.''...... So this may possibly be the cause of the delay, getting a loan against the Shenandoah project which may be easier once the project has a few months production under it's belt???

I'm frustrated by this further delay (as I want to retire!!) It was which originally was scheduled for Q4/2025, however I'm very pleased to see a guidance figure for what Rock need until first oil as I was concerned the vulturous ii's will want a good slice of Rock at some point, but will now have to buy in the market like everyone else, and can't rely on much if any new paper from the company.

Price held up well today in my opinion, but I cant see a large move north on sentiment alone now, but hope I'm proven humiliatingly wrong 😁

Bid 57p

In a nutshell, delayed by 3 months, which is quite normal and I guessed Sept for FID, perhaps Nov is now more likely.

99.9% still going to FID Se Lion

Rocks cash requirement well within their ability to find.

Nobody like a delay, however total commitment from Navitas and we now have a probably ''maximum'' firm figure for our cash requirement

Thanks Alma, I stand corrected, but I still feel there might not be much of an update regarding Shenny, or Sea Lion, so advise people not to be disappointed if there is little in the way of an update.

Nice to get a decade high finish however we are still at the start of the journey, assuming the highly likely FID on 917million/bbls 2C resource @$25/bbl extraction cost (info for the newbies) is approved.

I am not expecting too much of interest from Navitas's Q3/2024 financials tomorrow, except an update on how much they have spent on Sea Lion, but I do expect Rock to start snuggling up to 60p soon 🐧

Actually 16th May 2025 Finished @55.6pence😊

Hi Ovets, part of any derampers aim is to also disrupt positive discussions. This forum frequently gets filled with a majority of posts arguing over a single derampy inaccurate post. I feel it is better to never respond directly to any deramper, rather repeat/post the actual facts as known.

As things stand after looking at the facts, attitude and actions from the operator, it is highly likely Sea Lion will get the green light Q3 or Q4. 🦭

It really does not matter why some negative posters are here, best to ignore, filter, or use it to repeat the facts as we know them.

Facts being Navitas have spent $50m already getting the Sea Lion 917million barrels of 2C oil ready to go with a completed EIS and FDP, ALSO an FPSO signed on an MOU with Bluewater that has had it's FEED completed, ALSO long lead items secured and a life of field extraction cost of less than $25/bbl. ALSO Navitas have their own new oilfield about to come online in June transforming their revenue income and the CEO, Owner and operator of Navitas has repeated FID decision (read green light) will happen ''mid year''.

Rockhopper also are in very good shape with about $20m in the bank and an IOU from a specialist insurance company for Eur31m to Eur65m and could raise millions more if needed, which it probably wont be, in a blink of an eye !! Everything, and I mean everything, points to FID happening and imo fairly soon, but the market can only point you to the buy button, it can't make the none believers to use eyes, ears and brains.

Mogger, thanks as always for the info.

Had a thought about the renegotiation regarding the Aoka Mizu. Previously there was a 180-day cancellation period that could be invoked by either Bluewater or Prax. I suspect the new agreement may say this cancellation period has been to reduced to say 30 or 60 days. This allows Prax to continue to extract oil for as long as possible, but also for Bluewater to get it's FPSO back in a timely manner for it's new and very long term contract with Navitas.

To provide environmental advice on oil and gas related matters "This is a permanent post".

Add it to all the other tidbits and I perhaps FIG are trying to tell us something.

#FID is almost certain #DontSellCheap

I was just looking at the charts, and for what they are worth, there is a 6 month slightly converging channel. Lower line is around 46p today, higher line about 56p. Both lines are trending higher and I suspect we may in the absence on news, drift around current levels. Obviously significant news could take us below or above trend lines in a day, however as days go by, I feel its far more likely we will have positive news.

Anyone with an active short, please speak up now.

LOL. I did the same around 40p with 25000 shares, I lasted a day and bought back making £60! It really wasn't worth it. Just holding for the inevitable FID sometime in Q3/4. Sept is my guess.

Nice find and thanks for posting Violindog. Good to see the original timeframe is being kept 'original timeline for the replacement barges, causeway, and access road remaining on track for delivery by the end of 2027'.

End of 2027, I'm sure something else is scheduled around that time, but can't put my finger on it at the moment🤗