Member Info for superritch

Press release in investor section on RKH website

Sold to United Oil for $16m ($8m cash and the balance in cash or part shares depending on United capital raise)

Reason stated as time to focus on SL!

Why the f**k don’t you all just grow up and stop trading pathetic insults you bunch of morons

FFS there was some genuine, sensible debate for a while today and then the usual idiots appear and we’re back to the insults

RKH is in a fascinating situation and we should be raising the level of debate, none of us really know what will happen and we should all make our own decisions....intelligent debate helps, immature, unintelligent keyboard warriors do not, whichever side of the argument you are on

To the idiots I say take a look at yourselves or may be ask your Wife, friend or psychiatrist to take a look through your posts and get their opinion on your state of mind

Marunam2
Thanks for the quick explanation and fully understood. my apologies if I reacted a bit too quick!...there is enough overreaction on this board so don't want to add to it!

As an aside, I can't agree with your statement that the Falklands war was for nothing

I'm sorry but it's outrageous, our armed forces did their job and protected the independence, freedom of choice and peace that the Falkland islanders have enjoyed for their entire existence. The presence of oil and gas in the region was/is irrelevant

In many ways the events in 1982 were as clean cut as it will ever get for British soldiers in the modern world where corrupt and dangerous politicians send them off to fight their geo political battles.

For the poor Argentine conscripts it was of-course a different story.

If he really said "If" and "potentially" in the same sentence that is pretty unnerving.

I have always been pretty comfortable with RKH being an entirely binary win/lose but with a pretty big % pay-out on the win side which made it a well worth while punt

For the first time I am now becoming bearish on the outcome. I fear that the pressure from the environmental groups will make it hard for our Government, given their general weakness and incompetence, to allow funding from the Export Credit agencies to drill for oil what ever the economic and geopolitical arguments.

I'm fortunate that I bought most of my shares close to 20p so have an average of just over 23p so this stock hasn't been the disaster it has for others so i'll hold for now but sadly I think I am close to losing the faith

...hoping there might be some more positive feedback from the AGM

I think that's true, nothing is priced in which provides the significant upside.

However, I would caution that if OM goes nowhere and if SL is delayed or mothballed or scrapped then there will be significant downside, at least in the short term. It could easily drop to the low teens as investors exit

We'd be in the strange situation where we might be left with a small E&P with production that covers G&A, no debt and >$30m cash in the bank which roughly equals the market cap and free to look around the world for another opportunity. Bizarrely I'd probably want to load up more at that point :)

This forum is now completely feckin pathetic

I used to find it interesting and often helpful but now it’s just childish vitriol from a small group of posters from both sides of the debate....essentially it’s the same as the Brexit crap

What the hell does anyone care if somone else is short or long....make your own decisions

I’m long at average 23p, I may make some money or lose some money, I may even make a lot of money or i may lose my entire stake but I am comfortable with my risk and exposure so I sleep at night

Please can a few people just grow up and get back to intelligent discussion. The future of Oil and e&p is actually quite interesting and if we better educate ourselves there could be money to be made and losses to be avoided

Mexico!!!!!!! Ok

Seriously, you want to give a 30 year old with a few years oil industry experience the job?! In any case, if I was in their position I wouldn’t work for 75k......someone with Ivy League education, private equity experience etc can and will command a lot more (wrongly or rightly)

I understand your frustration and with such a large bet on RKH you have more than most at risk, I’ve got £80k exposure to the FI as a whole which is a lot of money to me so I feel your pain but my feeling is we are all in here with Sam, at least for the next year or so

Good luck to us both!

I realise £60-85k is still a decent salary on a national level but I think you may be slightly out of touch with London salaries and costs

I’ve no idea what they do on a day to day basis but I’m pretty sure I couldn’t have built the Egyptian/Med business, or discovered oil in the FI or undertaken the kind of Governmental level discussions presumably happening in the background, and I get paid a lot more than you’re suggesting.

I’d love to see how many credible applicants we’d get if we advertised the CEO position for £75k 😉

I have a pretty decent sized long position in RKH and sill comfortable with my binary bet...either the oil comes out the sea bed and I make a lot of money or it doesn't and I lose the money I've risked...earlier this summer I thought the odds were 60-40 in my favour, a week ago 50-50 but now with Oil looking "challenged" I think the odds have gone against us to 40-60. Still a bet worth placing and as I have an average price of just over 23p I am in reasonable shape.

What I don't get about this board and people in general is how personally different views are taken. I have been in this stock for many years...caught the falling knife and invested heavily to average down (not something I typically advocate) as I believe (and still do, just about) that Sealion and FI in general could be a gamechanger. All decisions I have made are based on DYOR and IMHO and that's as it should be. If I lose every penny I have risked in the FI I will blame nobody but myself....eyes wide open.

...and so to Oil….I think our biggest risk here is timing, a lower oil price will to a varying extent impact us for a number of reasons:
Premier will have slower debt repayment which will potentially reduce their new risk appetite, Securing funding could be more difficult if oil sector sentiment is poor and finally, and I think this is our biggest risk to FI oil, this has already dragged on for years, if there is another 2 year delay casued by short term oil prices then we could be in danger of missing the boat as alternative energy sources start to take hold and the general market, geo-political and public sentiment turns further against oil

Good, diverse debate and opinions on here are realy valued, I just wish everyone would be more open about their positions (it's anonymous right?!) and take the time to explain their views (especially the negative ones). For what it's worth and to show my bias...I'm 7 years in , Long 225k at 23.15 average price

All the best to everyone.....long or short

FI, I sincerely hope you are right and I have a good number of shares at a fairly low average so have backed my view that this is all going to come off.

I have learnt the hard way that things don’t always pan out as hoped or expected but have also learnt that there is enough choice and information available so I never blame anyone else if things go wrong :)

In fairness, I can think of many reasons to travel that far for such a meeting.....hopefully it’s for one of the positive reasons you mention but it could also be for negative reasons such as ending a deal or potential deal or a crisis meeting because things are going sour in a relationship

As always, RKH remains binary, either you believe the many twists and turns will end in oil (or maybe just the promise of oil) and a likely higher share price or you don’t. I have no idea where the childish posts of Senor Bancos and others fit into this but DYOR and don’t “bet” more than you are willing and able to risk losing

Yakee, not sure if you mean me but you need to chill out !! I am absolutely not an expert but part of the benefit of a forum like this is to share experiences and views.....none of us are right or wrong and none of us know what any given share price will be in the future....it’s just educated guesswork

And seriously, how can it not be worth selling a stock that you think will go down further??

I was in an almost identical position to yourself but have taken the view that the oil is real and there is a reasonable chance that they will get it out (or at least attempt to) in which case there is a decent chance that RKH could go up very nicely.....I therefore am one of those people that bought heavily in the last couple of years to get my average down (to 23p) and have deliberately put 20% of my total portfolio into FI oil

I am not a particularly smart guy nor do I assume it will come good, I just think it has a decent chance and could give me a massive return on my investment whereas the rest of portfolio are in fairly boring diversified funds etc

So why stay in the stock Yakee ? Surely you’re only decision is “where can I put my £17500 to get the best return?” over whatever period you prefer ....if you don’t think it is RKH then DYOR and pick any one of the other thousands of listed companies around the world....or a cash ISA and you’ll know exactly what you will have in x months time

I don’t mean any of this in a patronising way, simply that I think we all struggle to cut our losses and move on in life and feel we are stuck with a given situation, in this case your investment in RKH. In reality though, you are not wedded to RKH ...the “divorce” will only cost you £10 or so with your broker and before you know it you will have a new ticker symbol to get your pulse racing again :)

That's exactly what I was saying Kurgan....if you don't believe in RKH then why would you leave your money in it? Surely the only question you should be asking is where will I get the best return on my £ from here, not from what you paid for something X years ago.

Sad to say but no-one is going to compensate you for being "suckered in" to buying this stock. Crystallising losses is hard though, as we all know.

You could well be right about the oil staying in the ground.....like I said, it's almost binary....I like my portfolio to be around 80% sensible, safe (accepting it's the stock market) and diversified and 20% high potential return punts....RKH and the other FI bets fall very much in that category.

ahha is spot on, this is a game of patience!

I have a reasonable holding (also in BOR, and a smaller one in ARG) here but I see this as pretty much a binary bet...FI Oil will either go ahead or it won't...if it does there will be very good money to be made and if it doesn't then I could lose a good chunk of my investment.

What I won't do is blame everyone or everything else for my own decisions. The risks are clear.

I know that averaging down carries risk and should be done only selectively and with careful thought but RKH was a no brainer for me having got in at over £1 initially and then seen it collapse to <20p. The underlying fundamentals have not changed...the oil is there and if the geo-political and macro-economic stars align we'll get it out the seabed in the coming years.

I don't understand PI's who come on here moaning and calling RKH a dog etc...it doesn't matter what price you bought at...all the matters is the amount of money you have currently in RKH and where you think that money will get the best return from here...if you think it's RKH stay put and if you don't think so then move the money to a n other stock or perhaps a cash ISA !