Member Info for SpaceHoppa

Citizen, I hold 518k shares, 463k in a Hargreaves ISA account. The quotes were correct at the time. Some people may like to know how many can be sold in one go, and for how much. Up to each reader to assess if it is genuine or not I guess however I have no fear of being "done" :-)

300,000 shares, £40,000, for 13.45p at the moment. Strong start to the day.

Obviously not selling as the Rocket is still on the pad, however it's getting closer to lift off.

Great news for Navitas, posted by Mogger as usual, on their Shenndoah asset. There success there can only strengthen them financially, and help them to secure funding for SL.

Edit. Quote for 300k has dropped back to 13.05p since typing, but this is still up from the 12.8p I was quoted the other day.

That may be so Simms45, however I have heard that when a company is sold, options become immediately exercisable.

Not sure if this is true here, but as per usual, piglet nose in trough management have their own best interests at heart whilst in Condors case, doing currently pretty much naff all.

Hsbiilkhu, oh, forgot they have a thing going on :-)

Thanks.

Ancientarcher, Navitas have shown themselves to be very tight lipped, and Rock themselves are a very tight ship, I like both them things, also a LOI is by itself, not technically a mandatary reason to RNS, that said, if the translation was correct, and Navitas had reported they had a LOI for an FSPO, I believe Rock would RNS that they noted that event.

Many shareholders do not read forums, and I find good companies keep their shareholder appraised of significant events. Rock management do not have an unblemished record, few do, but I regard them as professional as informative when required.

Good to see the SP creeping higher again. I think the odds are more likely than not, that that FIG will sign off the OM deal, that with news regarding procurement for first oil will start to filter through, and that the closer we get to FID, will mean Rocks SP is finally going to be heading north as the weeks go by.

Keep those shares safe as there is going to be a lot of demand for them soon, if the above is correct !

'Why do they need another oil firm ? - apart from contributing funds & sharing the risk .'

You know more than you think Buffit, as you answered your own question :-)

Another reason could be they bring with them some expertise that Navitas themselves do not have.

I presume if the report says there is an LOI for an FSPO, then we may see an RNS tomorrow.

I'm not convinced Goggle translate is accurate enough to draw that conclusion,

however I hope I am proved wrong in 12 hours time.

For what it is worth, I did a dummy sell on 463,000 shares earlier, and was offered 12.8p. I agree we might be getting to the point where the SP starts inching North again.

Ancientarcher,

You highlighted something I had not considered, that going forward we subtract the $17/bbl Opex and not $8/bbl Capex from our productions costs. That said, the RNS does say

'Per barrel cost life of field US$25'

So when doing life of field calculations, it is accurate to use $25/bbl, however when doing post first oil calculations, I must remember to just use the Opex number of $17/bbl. Thank you, I like my maths to be corrected !

''He can, of course, increase the level of corporate taxes for the whole country''

Which according to muppetface Reeves yesterday, she said Liebour are not going to do. Not that I believe any of the current third rate politicians.

Nice to wake up to some good posts today with figures. To add another figure which I omitted in my post.

"7. Navitas/Rock have $700m of tax to set against taxable income"

Which as has been said below, means an awful lot of pil needs to be produced before Rock/Navitas start paying tax.

Chess,

A realistic hypothetical, with POO at perhaps $80 and life of field costs $25/bbl

50,000bbls x $55 = $2.75M revenue per day, $1Billion a year

Royalty 9%, Corp Tax 26% = $652M profit

Rock 35% = $228m profit net to Rock per year

If Navitas get a finance for $950m leaving $250m cash required. After the maths of Navitas loan etc, Rock would need to find $29m. On $1.2B costs, rock on the hook for $420m, mostly covered by Navitas loan and debt finance.

Rock still have to find circa $30m in cash leaving $390m owing to get to first oil.

As above, first year profit of $200m+

Two points.

One, Rocks SP could be well north of £1 by then meaning equity to fund a drilling campaign, if there was one, would be minimal.

Getting debt when long term yearly profits are $200m+, should not be a stretch.

It's true this socialists/Tory government have recently hammered nails in the north sea coffin, however Labour plan to bury it for good with no new fields licenced and even more tax.

ConSocialist, Liebour, Liberal and Green zealots all have brain dead moronic obsessions with the green agenda and don't care one jot if we all become poorer and colder. These parties, and many celebrity hypocrites could not give a flying f**k about you and yours, and only care about being in power doing all the things they tell you not to do !!

Vote Reform if you want MP's who want polies that actually benefit Britain, the rest are all abysmal sh1sters.

As we close in on the six month mark, the end of year guesses are looking rubbish for most of us, including me.

OscarIndiaLima has been siting very pretty all year so far with 13pence. Plenty of news to come in the second half so all to play for !!

132 Stillneedoil

100 Neilius

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60.5 JEBR

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57 longtermthinker

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38 Kerching

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15 Latics

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10 headder

Because management are moving the company away from the thieving socialist Tories and even more thieving Liebour party.

As had been said already, this is mostly a rework of information already known, however of interest is

‘Work continues with FIG to secure consent which should be obtained by end June 2024’ ------ ‘Should’ sounds better than ‘we hope will’

‘Discussions are advanced with a number of contractors who are available and interested in offering all services required to bring the project into production.’----- One would expect this to be the case, but good to hear contractors are ‘interested in offering all services required’.

Lastly as mentioned by JEBR ‘’ the ad hoc committee has instructed that it will shortly provide questions to both parties who are to respond in writing by 18 June 2024’’. This is new I believe and shows we may be a good few months away from a final decision.

A good positive RNS but little new.

Waste of time. They didn't even know oil had been discovered off the Falkland Islands.

GBNews having an article on Falkland oil in a moment if anyone see this in time.

Circumstantial evidence NN, but the two announcements a day apart, again suggests a connection with Falklands.

Ancientarcher, that is fair comment and good to hear you are invested. No surprise being heavily invested that I'm keen to see progress and also based on what we know, strongly believe Navitas are going to give the go ahead within the next 12 months.

I agree we can not look at anything and everything as being related to Sea Lion, but with the H&W contract, it all just fits nicely with Navitas's SL plans and their timescales. I looked at other contracts H&W had won, and they tended to name the company they were working for, this one that fits SL, they didn't. Time will tell :-)