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Looks like we have swapped the consolidation/shallow down trend that took the bid down 7.5p to mid 32p, from the 40.1p, for a shallow up trend, that has taken us up to 37.4p. Just 2.7p off the 6 year high.

The arrival of Navitas's FPO may well I feel see Rock test 40p again, and any positive vibs from Navitas could see us get through that psychological 40p figure, although I'm not expecting to breach 40p on just the FPO arrival.

Hi LTT, don't want to Diss BOR, however

BB3 explains it well that on a risk reward basis, BOR aren't the ones I would be holding. Was vaguely tempted at 2p, but at 5.5p I would take the rise and buy the more certain bet. Each to their own though.

Very well put BB3.

If anything, investors should dump Bor asap, and buy Rock!!

Hi Citizen, re-reading the Rns Rock have allocated Eur5.5m to divest of their Italian 'assets'. Whilst I agree this will be a positive outcome for Rockhopper, so they can focus on the Falklands, it is unlikely to happen any time soon.

Navitas progress, OM $millions and FID seem the near term catalysts to shift Rock from the 30's, to 40's and possibly 50's or 60's in the next half year.

For now I am happy the 2 week breather has only resulted in (as I type) Rock giving up just 4p, of the 25.5pence rise.

#HoldYourNerve&Shares

I agree Much, the 15 day down trend was broken today which is positive. Volume wasn't particularly high but I feel that perhaps, Rocks SP may start to mirror Navitas progress at Shenny. Basically the closer Shenandoah gets to first oil, the less risk there is to SL FID mid year. In a nutshell less perceived risk = greater perceived chance of reward.

In the long run we may have a nice SP trend higher on Shenandoah to first oil, and another more significant trend higher to Sea Lion first oil.

For what it is worth, we seem to be in a shallow downtrend, lower highs, lower lows, aided and abetted by the AT trades. If this is to continue the bid will need to finish lower than 32.6p. Volume as has been noted, is well down so I feel there is no strong conviction in this trend. With Rock tied closely to the fortunes of Navitas, and their Shenandoah operations entering the final stages, I can easily see this weak down trend reversing, perhaps on the news of the FPSO arrival approximately early next week.

People have all sorts of reasons to sell, need cash, rebalance portfolio etc, however selling prior to the news on the OM Eur £31 to 65million cash injection, FPSO hook up/Shenanddoah first oil, and the almost certain SL FID, seems like chucking money away !!

#HoldYouNerve 🐧

I'm not banking on an ii pile on upon FID, I think most will hold fire until around a 12-15 months before first oil as seen by Navitas's SP and then they will steadily accumulate. I do however, see a steady rise before FID, and a target in the 50's is my personal expectation.

I feel

Delay has already happened Mr 🐌 and last time the SP tripled.

Good luck with that strategy though 😉

Mr Tin, U feel Issy will likely be so big it will need much more than SL could provide, even if possible.

Each to their own Ralph. As said, I make it clear its their choice. Mrs S has 40k at an average 9p, SpacesMate 170k @ about 20p. Both appreciate being made aware of the opportunity.

Good, or bad to see the SP behaving quite normally after a significant rise. Lacking any news the SP is slowly giving up some gains but on low volume, less than 500k so far today, as opposed to 10m+ a day on the way up to 40p. Few sellers or buyers around and with no immediate news indicated so back to waiting for the new oil dawn to break.

Good for my mate though who has transferred £20k to his newly opened HL account looking to buy for a 5 year investment in Rock. That will be the 4th person who I've encouraged to look at Rock, the other 2 happily in good profit atm. If you have friends or family that have money to invest, might be worth mentioning the Rockhopper opportunity, although make it clear, there choice, and nothing is 100% certain except death and that Labour will FeckRightUP the UK economy!!

Interesting point Violindog, although not an issue for a few years. What will Navitas want to do with all the other great prospects in our joint licence area? They like to buy into fully appraised oil fields, and not do the risky appraisals bit them themselves. Would they perhaps do a bit of exploration to find oil discoveries, then farm out 70% or so to a mid/major to do the dirty work?

A nice problem to look forward to in 5 to 10 years time.

Indeed LTT, Rock are very lucky to have Navitas as operator and partner. FID is 99%+ certain I feel.

Celebrating Excellence:

Gideon Tadmor Named "Person of the Year" by Bizportal for the Third Consecutive Year! 🌟

We are thrilled to share that Gideon Tadmor, the Chairman of Navitas Petroleum, has been honored as "Person of the Year" by Bizportal for the third year in a row. This prestigious recognition highlights his visionary leadership and unwavering dedication to creating exceptional value for investors.

Under Gideon’s guidance, Navitas Petroleum has experienced extraordinary growth, with its market value soaring more than fivefold in just two and a half years to an astounding ₪8.25 billion.

As Gideon stated: "Our goal remains the same: to continue growing and creating significant value for our investors."

We congratulate Gideon Tadmor on this incredible achievement and look forward to reaching new heights together!

https://www.linkedin.com/feed/update/urn:li:activity:7288109978467323904/?origin=NETWORK_CONVERSATIONS&midToken=AQGveaqNx3evXg&midSig=1E8YLt03SL_XA1&trk=eml-email_network_conversations_01-network~post~cta-0-read~more&trkEmail=eml-email_network_conversations_01-network~post~cta-0-read~more-null-hfxk26~m6fggtwg~6x-null-null&eid=hfxk26-m6fggtwg-6x&otpToken=MTMwNTFiZTQxNDI2Y2RjY2IzMjYwZmViNDExZGVmYjQ4ZmM3ZDg0ODk5YWI4YjY4N2JjMzA3Njc0YTVlNTlmYWY1ZDRkZjhiNGFmMmIwZjA0Mzk5ZGI5MDg1MjBmMWE3YjNiYTZjNGNkYTRkZTEzOTIwYWQwZSwxLDE%3D

Timeline

OM award and $31 to $65m payment in Feb/March – SP 40 to 45p

Shenandoah FPSO arrival, hook up and testing Feb/March - 40 to 50p

Shenandoah first oil April/May - 50 to 55p

FID June/July - 55 to 60p

The above could be way out, however 60p is less than double our current SP, and getting $31 to $65m in the bank, FID and significantly de-risking the project, should be worth another24p surely?!

Just called Falkland Islands Company and the guy said he hadn't heard anything about them collapsing and that they were still operating down there. Should have done this before emailing SM.

Like the math(s), I shouldn't believe everything we read on the internet !

Every £5m in the bank is equivalent to £15m for Rocks proportion of non finance costs to first oil. Unexpected bank account boost😀

Thanks Ovets, and Donalb for the information regarding the FBS. I've emailed SM to enquire if this is likely to be an issue, assuming we go to FID, and if there are any contingency alternatives. I shall post should I receive a reply, which previously he has done.

(Grimuphere = time waster = Filtered)

Hi Much,

I agree 42/43 was/is more of a historical resistance/support level on the way down, however 40p looks more of a resistance level on the way up. I don't think either 40 or 42p will provide too much resistance if we have news to support a rise higher.

After that, the next strong resistance is between 60/64p, so close, but below that, is where I think we might get to pre FID.

For now though it looks like the wind has gone out of the upward trend, so I'm unsure if the SP will drift low, meander around mid 30's, or kick off again. Kick off is probably the least likely, however WTFDIK.

All that said, and to echo Pauldrayton, whether or not one makes or loses a few £100, or £5k every penny movement, it matters not a jot if the landing zone is Navitas announcing FID in Q2/3, which I'm very confident will happen in 2025.

Thanks Much, I was just going to post the same, 36 looks like a support level, and as with Ralph, 40p looks like resistance until news drops. So that may be our the new trading range, although I personally dont regard either points as particularly difficult to break through.

A few days or weeks consolidation at these levels is no bad thing given the recent rise.

Right from the off GD mentions Shenandoah but then immediately talks about the next big thing, Sea Lion.

Also talks about the great support from Tel Aviv stock exchange in raising funds and that he sees being operator for the first time is great, in that they can make 'opportunities in a more assertive way'.

I'm definitely not selling any shares at these prices !!