Member Info for SpaceHoppa

Proposed merger of Premier and Chrysaor Holdings Limited ("Chrysaor") and the reorganisation of Premier's existing finance arrangements

6 October 2020

Premier and Harbour are pleased to announce that they have reached agreement with Harbour's UK operating company Chrysaor, regarding a proposed all share merger between Premier and Chrysaor (the " Combined Group ") and the reorganisation of Premier's existing debt and cross-currency swaps (together, the " Transaction ").

The Transaction will create the largest independent oil and gas company listed on the London Stock Exchange with combined production of over 250 kboepd (as at 30 June 2020). In addition, the Combined Group will have a strong balance sheet and significant international growth opportunities.

Whatever the reasons for the multiple director sales, and they may have good reasons,
the drip drip daily Rns announcements are unhealthy for the share price,
and do nothing to instil confidence to buy shares.
I have a spare £3,500 looking for a home and PUR were my target, but I'm put off buying for now.
Lets hope today was the last of management cashing in shares,
and they start creating an atmosphere to buy PUR, not a reason to sell.

Zeratul, all fair comment and I am also one of those who sees a great long term future for my investments in Pure.
The director sells are an opportunity to aquire more shares, as I have done, however the drip feed Rns of sells is annoying, even if they have good reasons and need the money.

Another director flogs of his almost free shares , 300,000 in this case. Never a good luck.
On the plus side I found out I had 35,000 shares now, just hope directors don't keep sending out the wrong signal
It is almost as if they are trying to drive down the share price!

Tomorrow will be 11 months since the last update from SCSID
October 30, 2019 The Tribunal holds a hearing on post-hearing briefs in Paris.

And nearly 20 months since they held the decisive liability and quantum hearing!!

February 4, 2019 - February 8, 2019 The Tribunal holds a hearing on jurisdiction, liability and quantum in Paris.

Have they all since fooking died of Covid ??

International Centre for Settlement of Investment Disputes.....but you might die before they actually make a fooking decision!

Thanks to the rather dumb market reaction,
to the rather small % sells of some directors,
as they trousered some cheap share money,
I managed to pick up another 7,000 shares, at 123p :-) Thanks

30,000 shares now, though hoping to increase as I rebalance my goldies.

My first post on the Pure thread. I added twice today, 13,000 shares, at the 129pence level.
Now have 28,000 shares at an average around 125pence.
Not many and a high average compared to many of you longer termers!!
Was late to the party however I like what I see. ATB

Clearly you do not with that fairy tale make believe BS. There is plenty to **** the company off for, and the directors without your claptrap of how international arbitration work!

Yeah, because that's exactly how international arbitration works. FFS !!!

'Feedback from the Tribunal has indicated that work continues on the award'
This is interesting wording! Rather than say 'continues on the CASE', they use the word 'Award'. Interesting.

Rockhopper commenced international arbitration proceedings against the Republic of Italy in relation to the Ombrina Mare field in March 2017. The hearing took place in early February 2019 in Paris. In June 2019, the Tribunal rejected Italy's request for the suspension of the arbitration and Italy's related intra-EU jurisdictional objections.

Post-hearing briefings were submitted in October and November 2019. Feedback from the Tribunal has indicated that work continues on the award although the process has been delayed due to disruptions caused by COVID-19. No guidance on the timing of the award was provided by the Tribunal.

Rockhopper continues to believe it has strong prospects of recovering very significant monetary damages - on the basis of lost profits - as a result of the Republic of Italy's breaches of the Energy Charter Treaty. All costs associated with the arbitration are funded on a non-recourse ("no win - no fee") basis from a specialist arbitration funder.

Nice to know.
-- Cash resources of US$13.4 million as at 1 September 2020 - Board expects the Company to be fully funded through to at least the end of 2022, assuming Sea Lion sanction occurs during that time

Thank you Fuddstone for the link, as Ovets intimates from ICSID code

'' Either party may request revision of the award by an application in writing addressed to the Secretary-General on the ground of discovery of some fact of such a nature as decisively to affect the award,
provided that when the award was rendered that fact was unknown to
the Tribunal
(2) The application shall be made within 90 days after the discovery of such fact and in any event within three years after the date on which the award was rendered.''

It is unlikely there that Italy has belatedly found or remembered some game changing new evidence to alter the decision of the ICSID, though I accept it it not beyond the reals of possibility, however remote that might be.

''The other thing that caught my eye is, even if there is an award, it would appear that under certain conditions it can be appealed.''

Care to share these cases Mr Danger Man?
I love a link or two!

February 4, 2019 - February 8, 2019 The Tribunal holds a hearing on jurisdiction, liability and quantum in Paris.

October 30, 2019 The Tribunal holds a hearing on post-hearing briefs in Paris.

It's been 18 months since they held the jurisdiction, liability and quantum and nearly a year since they held ''post-hearing briefs''.

This is not in our corporate greedy piglets hands, however it shows the ICSID are just as prattish on timelines as Pmo and Rkh. The Shisters!

Thank you Mr Hairydavey for contacting the company and sharing your reply. On this point below
''We have been informed by the ICSID panel that the Covid situation is causing delays to their process''

this is the first time I have heard that ICSID has admitted Covid has caused ''delays''. Considering the hearing was held over a year ago, blaming Covid for the delay seems rich of ICSID, but who knows the reason??

The deal was perhaps not so bad, and at the time was probably the best one on the table. There was not exactly a queue out of Sams office begging to farm in from what I remember and what was the alternative to PMO? It did give Rock plenty of cash and under normal circumstances Sea Lion would have been sanctioned years ago.
POO, which can not be blamed on PMO or Rock and which stuffed up many companies.

What was bad was the appraisal campaign which was incompetent, buying additional acreage for too much and our Corporate greedy as feck BOD Piglets who even with nothing to do but count their obscene wages and options, can not be bothered to keep shareholders informed.

I'll echo that.
Sea Lion may get sanctioned and all is good
OM arbitration may deliver $100 million plus for Rkh and all is good
But whatever happens, Rockhopper directors ARE perennial shareholder cash, greedy, trough feeding, piggies!!

I do not generally agree with Mr Godders99,
but he has a point about a lack of updates.
It's not like the greedy corporate piggies have much to do for their trough of Rockhoper cash!

Even if it was to say hello, the lights are stilll on,
we're still breathing and living the easy life o rilley would be something!
As things stand the greedy piggies didn't even give shareholder the respect of copy pasting the actual votes of the AGM!!!

'' I'm too immotionally immature to crystise the loss''.

Well I admire your honesty, though it may perhaps, be clouding your judgement. If the Rock do manage to get a decent OM payout, it may be the time to crystallise half of your losses, to help with your mental wellbeing. Good luck.

Godders, you say

''This isn't happening'', like a well traveled Timelord.

I'm here for an OM payout re-rating. Why are you here given you believe ''This isn't happening''?
Is it the same reason as me?