Member Info for Surfit

Valid point raised Auson, once it (UKEF FI's) is fully approved /announced (chicken & egg with Navitas funding) they will come after BOJO on the climate control issue..but the wonderful thing is they have such a majority. PM will state "Major investment in renewables continuing, continued investment in the OnG, greater prosperity for the FI's, more jobs created for them and our experiencef British AND in particular Scottish offshore workers"
Rgds Sft

Hello FAFH,
Is there a pipeline already in place? That would not be cheap I would guess?
Rgds Sft

Hey Cyan, thank you good points.
Remember Eddison were stating £32mil from their report, if i remember. Thats the only figure I have seen that has not been mathmatical speculations from bb members ( I belive, if any one can post another source, not a comparitive, please post link).
Where are Eddison getting their information from?

Navitas has moved up 23% aprox since Jan 6th and holding up very well, in this Corona virus jittery market.
This does bode well (imo) as it could indicate the markets do have faith in them.

FIG as you say, may probabley have little choice to accept. BUT what power do they have not to say okay you change the rules we will add this also. I would have thought PMO or worse RKH would have to offer something furter down the line. Business tactics..FIG would hold some decent cards..i.e liences...although when the extention was granted...Navitas and there situation could have been already known to all parties????? If so then its a check the paper work for legal loop holes and sign?

As before: If we have a steady string of announcements of steps forward then it could start to entice braver investors....as if this goes agead a lot will wish they had put more in.
Just do not have the money that some do on what still appears to be with out some risk ( albeit significantly reduced).
Signing the deal with Navitas will be an important mile stone, of course.

My hope is that Olver Irwins work has already secured clients and they are using Navitas as the vehicle for the financial conduit?

But all going well....one more year??? Seems a bit long if the finances are in place already.

$5.4 mil: has Moody ever given himself a pay cut....the top end boys never do. Who's to stop him.
"Who can rid me of this troublesome monk" too far? (-;

Kind rgrds
Sft
GLA

True, i think as long as there are actual announcements or up dates made it could shift the sp. This information has to be put out...its been very very sparce in the past (due to no news better than bad news) BUT I for one am not expecting the SP to really move until sanction is granted. I do not think any larger investors would not step in until then..too risky.
Hope I am wrong...sick of seeing red with my RKH investments....still ISA's loom in April.
Rgds Sft

Thank you Cyan.
Fig would have been looking forward to that amount of cash i.e infrastucture development, they could or should look for a sweetner in some way...roads /accomadation /port development?
That completion of the financial package: Navitas must be able to go to the FIG with some firm financial proof or surety surley? Otherwise they may stsrt to think the can has been swapped also?
One could imagine they may also be touch frustrated over progress too...and the can kicking has a set end date (licenses) for RKH for sure.
Thanks for the info and raising the points. Food for thought, not the leap forward many might have been expecting and as Greenspot indicated it continues to expose the sp to slow downward pressure AGAIN! VERY frustrating.
Still better than NO finance oppertunity at all.
Regds Sft

Hey Cyan
That statment is very interesting: " in accordance with information provided to Partnership by Existing partners, such a final investment decision is expected to be made by the END OF 2020" !!!!!

Navitas have not raised the capital yet either...how long would that take or is that sitting in the side lines ready to go?????

Intresting "in accordance with information provided by partnership and existing partners...."

You know what I find imensely frustrating is you could actually do okay trading this share...but as a long termer I keep getting caught up in the "potential"of actually receiving "imminent" project enhancing information...am I wrong but have they just changed the can and started kicking it down the road a bit more?
Or is that being paranoid (-:
Rgrds Sft

DBNO looking a SARS as a comparison chart?
Rgds Sft

Nig's on waaaaaay more than that or he should be (-;
+92 posts reflection of the sp going down not up.
Will continue to wait for the "boom".
Will saction get us above 41p i.e july 18 PoO (brent) $74? Why was our sp so high and why is it now so low? Could it be we are not a producer any more, faith in management, faith in farm in partner, faith in?
Well you could have faith in the detail and information that simples divulges....which is.....???????
Simples has a lot of faith...praise the lord.

Shorts (declared) in july 18 aprox 0.69%
Shorts (declared) now 0%
(Via shorttracker)

Not many can sell with out significant losses, many would like to add but may not carry the faith. .
Many appreaciate valued dialog.
As usual many thanks to those that contribute actual found and PROVEN information.
Chances of success appear to have improved dramatically.... but we still need it signed and then sactioned.
Beware of those red under the bed...or should I say people that reason risk appropriately.
GLA
Regrds Sft

https://youtu.be/ISy0Hl0SBfg
:-)
Kind regards Sft

Hey Cyan, I follow you and SchachMover on ADFN you both post informative and balanced posts.
It seems to be a crime in some eyes to discuss the hazards in this investment...though such disscussion mittigations and controls can be brought to the fore. My firm favourite is attempting to exert some "control" on "Captain" Moody, as you say they have not done enough to reduce outgoings....Egypt was intended to that that source of income...but that did not work out as expected did they actually achive a balance of Egyptiian net income to net yearly office (of 13 I remind us all) outgoings?
I would actually vote for TD (PMO) and his allocation of an appointed team to take over the RKH BoD. Not possible of course.
I can not and am unwilling to commit further funds to RKH..I have been averaging down now to 24p. With out this most recent new partner...still to be fully confirmed..hence the fall in sp, we would be following a clasdic aim fail...again it is not thanks ONLY to PMO and Mr Irwin, Moody fcked it up on the original contract with PMO..and is totaly impotent to any further development ( as before: probabley a good thing). The RKH BoD are surplus to requirements. Obviously a full BoD removal is totally impractical...but these guys are not learning any lessons or exhibiting financial control...pretty good at spending it though.
Rgds Simple Surft (-;

Thank you for the post CO, bodes well for the UKEF support.
Market still not got behind RKH regarding the news issued by PMO nor RKH.
But
As others have said RKH (BoD) having dropped the ball on so many occasions i.e having painted themselves into a corner by having deluded aspirations of being an operator have been saved by the very people that they signed up to and who failed them due to Solan and the Oil crisis.
I think we probabley can look no further than Oliver Irwin as being RKH's and the SL projects saviour. Certainly not Moody. The nerve of the man allocating himself a bonus (and his 2ic monkey) when cash is so very tight telsl all investors the ethics and thought process of the man.
But with UKEF funding looking promising...as indicated by the Boris's words and the financing deal raised by Mr Irwin. We look like we may make it.
As to what the share price would be on sanction is anyones guess.
The market could respond well but obviously depends on how far this falls back to before then if course.
Those that bought in at the very low and sold on the news would have made a decent profit...how they "knew" would be an interesting debate regarding insider trading. If its not insider trading then it was just guessing with regards to the positive and recent life line.
Would be interesting for the FCA to look who made the large buys and when.
Thing do look more favorable though. Despite nothing having been signed yet, finances not proven as yet with our new partner (but they, PMO, and Mr Irwin will) Moody will be told later of course i.e chill Sam its all under control keep quiet, keep taking the cash and do not say or do anything to fck it up.
GLA
Rgrds Sft

Also: many thanks Tuscan. Answers my question regarding debt refinancing i.e bedding in new purchase's and aiding Tolmount development...and hopefully enhance structuring I am asuming that the creditors would not be giving away better terms than the pre-existing terms. Not mentioned.
Still rather quiet, as per usual any significant detail on Sealion...but obvious clarification on wht UKEF can kicked down the road.
It would also fit with the back date to Jan 2019 on the new aquesitions i.e did not pull the trigger untill the Torys were in and could be assured of PMOs tax credits.
Thank you for the link.
Rgds sft

ADDDED emphasis
Have I missed ANY PAST (2018/19) statements from TD or any PAST company RNS stating.......

Am I missing something: in basic terms
After the release of data regarding ARCM's massive short we then become emboiled in this news of the PMO debt, ARCM purchasing of more debt, then news /report that PMO want or need to complete restructuring.
Have I missed any statments from TD or any company RNS stating that due to failing expectations on company performance they (PMO) will not make the planned repayment schedule? To the contary: Catcher doing really well, Tolmount sanctioned, put in 23mil carry for the 88e drilling campaign, escaped a carry with RKH, sale of Zama when PoO is good.
No mention of failure to meet debt repayments..so why the extention...what have I missed...is it down to ARCM?
Rgds Sft

After all the "in the know" "we" " buying more" The Simples meaning of "BOOM"
Bussiness: A boom is characterized by an economy working at full or near-full capacity, strong consumer demand, low rate of unemployment, and a rising stockmarket, usually accompanied by rapidly increasing inflation

Slang: "Great, amazing" So now you know

Verb: make a loud, deep, resonant sound.

When used on a LSE bb: Charlaton, blagger, dangerous ramper, "all the gear, no idea" bluffer
Hahahaaaaaaaa wait...maybe.....errrrr..No...
Walks like a bluffer, sounds like a bluffer, posts like a bluffer
Knock knock, whos there.....a simpleton
(-;
Rgds Sft

Wonder if Oliver Gill of the Telegraph is going to post any comments for ARCM? or will he have done his own research...do they give mature student degrees and Journo jobs away these days.
Rgds Sft
Ps Quite like Manics comments on the ADFN PMO bb around 17:45

Ralph? I have a picture in my mind ( Its a black and white 1943: we are in a life boat and Sir John Mills is handing out the thimble full of water to each of us and No.1 is trying to cut up the the last hard tack biscuit to feed us all...but they are struggling to see how it works.
I squint my eyes across to the horizon the other life boat and Moody, Lernardo and the Stratton Oakmont team are drinking from dark green bottels and stacked high with these straw boxes that have fortnum and mason logos on the side?
What can it mean??? (-;
Sft

Hey Mogger that because they are all across in Westhill. But I appreciate your point...if not full agreeing: I do not trust him at all. If he was getting paid only shares he might be a bit more careful with share holders cash/ investments and we would not be scaping the bottom of the barrel looking for our old rainy day investments / last chance saloon.
Rgds Sft

Thank you ARCM: m8ght also be worth remembering Sea Lions 2010 exploration results
Oil quality
• 26.4 – 29.2 API
• 18%-20% wax
• Low sulphur
2011 fully appraised.
So thats helpfull, although not sure how "low sulphur" rates with those premium "heavy sweet crudes" in the artical...but I know high sulfur would have been significantly less favourable
Rgds Sft

Hey Mogger, You have my respect for your ability to hunt out FI / development / under the radar information for which I am as others areI am quite sure very appreciative of.
You are quite correct RKH and in particular Mr Moody has been fully responsible for enabling the drilling campaign.....but from there on I belive it has been a massive fail...that is with full understanding of the subsequent collapse of PoO.
This one has been the biggest for those that work in the industry. Combine that with the rise of Shale ( they have had a free hand and the Bankruptcies are only just begining) and enviromental issues...resulting in very volatile sentiment to Oil and Gas big oil investment.
All I see is a 12+1 team that have failed in all subsequent business planning, contracts and financial prudence....high lighted by Mr Moodys consistant wage level....it is in defencable (imo).
In the beginning I was defending him against the likes of carrot...but..as I learnt and looked deeper....actual skin in the game helps. They and he is the captain of the ship been not only pound but penny foolish
We have then had Nig morf into some paranoid (reds under every bed)...shouting invest and boom. Which is very dangerous for people that do not have his pockets nor "apparent" insider information...i say that because he is either massively gambling or just deceitful through implying knowledge that non one seems to know...that and his disgusting attitude to SK and others..I had to filter him yet again...it really is beyond the pale...many of his worst posts have been removed by the adjudicator.
ARCM hunter on PMO, biffd, yourself
Much, Ov, fer, cyan, rpoo and several others (sorry not to name you all...gold fish memory) have been very helpful in posting out perspectives for consideration.
But again Mr Moody needs to go...and it may not be possible but I ask that all holders use their votes at the next agm.
Respectfully SFT