Member Info for Surfit

Good to see Tranny contributing, yes I suppose they should now look to the FiG to assit: when business duck up or cant get the job done get a tax relief. Bet Tranny was one of the first to claim furlo cash/ handouts too.
Something is rotten in Fenmark when you cant raise under a 600mil for such a project.
My guess is lenders have a lack of confidence in PMO ( TD will have banned Sobel from attending) due to debt levels and terms of return are not good enough.
You can blame Corona virus but Navitas were provisionally signed in with out having secured finance BEFORE the crash. The reason the sp fell back was because the sign up meant nothing because they had no cash...just farmed out to a oil finance company that did not have any clients for the project.
True I do find it interesting that some brokers have put in a buy for RKH but we could consider that THEY would if they came in at 5p and are hoping for a OM rerate.
Rgds Sft

HG,
I too am VERY interested in the future but if you do not learn from the mistakes of the past.....
And the SAME man running the show. DOH.

Also factually showing investors what has gone on is not "spouting", You(and NigO) cant handle the truth and revert to type: hazing. With nothing but " brace brace brace, shut up every body its going to be fine"

All that work that Oliver Irwin of Bracewells law firm completed Premier Oil did not get the full job done.
Enter Navitas: Any info on their website????
Any update info from the RKH BoD????
At least TD told us via PMO that SL ops are to be suspended.

OM
Remember RKH came by OM via Medeteranian Oil & Gas whilst under dispute, another fine purchase Sobel. Wonder if the UKEF will like the fall out of adverse publicity from a high payout that (because Sobel cant make any good deals).
https://10isdsstories.org/cases/case9/
Several good OM related bibliography at the end of the artical.
IMO there will not be a high damages award, especially in this current situation or climate.
Hope I am wrong but plan for the worst hope for....
Rgds Sft

Not sure if t

We know the facts HG/NigO..thats why people invested.
SL is a really great find.
Its great for the Falkland Islands
Its good for the UK both for reducing the tax bill and securing a separate supply of hydro carbon

Still love to watch this summary from 2012

https://youtu.be/J685wm4Ewjc
For those that like a refresh RKH raised $600mil for the drilling (oh and they forgot to take the test equip, ran out of diesel..need resupply...demonstrating no decent company man onboard to check your contractor/driller) campaign see around +36mins
Drilling campaign cost 450mil see 42:30
REMEMBER raised 600mil
PMO in (43:20) as they were one of the few that would (i.e. Argentina?)
Goes on
60% to PMO with them giving
231mil BACK CARRY
48mil exploration back carry
So as of 2012 according to above seminar RKH had 429mil cash, 40% of the licence(S)
1. How much went back to PMO for feed (poor contract)
2. How much went on farm in costs for Desire/FOGL ( was that prudent)
3. How much went on feeding the piggys...remember how they think about money...I bet that was Sobel that put "Kerchiing" into Fionas vocab.

Thats my reason for not likeing Sobel Moody and his buddy.
The project is a good one, the men running RKH are dangerous.
Ps listen to the duckups that went on in the campaign to...no premptive operations hands on knowledge...costs alot.
Rgrds Sft

This is before PMO payments folks.....my whole continued objection is Sobel Moodys ineptness in finding the best people who KNOW about operations and what can go wrong...not finding out after! and being required to constantley raising more kerchhhing, contract accumen and managing finances.

Seriously hats off to Sobel he can raise it (respect) but he REALLY knows how to blow it too....there is not enough knowledge and proper risk assessment to know and anticipate financial/operational hazards/risk.

Ohhhh I am sure we will get there but...in what form.
Best thing can happen is if PMO or another operator take out Sobel

Decent debate, valid points (Excluding Henry's/NigO's usual contribution).
I agree with the sentiments expressed the fact that PMO have invested SO much cash and time AND it secures there medium / longterm future is working in our favour.
The reality still remains that their creditors will not let them go it alone and that they are still recovering from their near threat of insolvency following the previous 2014 PoO collapse
1. Remember the next issue to face is getting the FiG to yet AGAIN extend the licence to RKH.
2. RKH have farmed out the majority of their ownership of SL to PMO and potential Navitas ( if they find the cash and complete the final sign up commitment).
3. OM is ESSENTIAL for RKH survival.
4. Sobel Moody and Stewart have moved to free share aquistion (after only taking a 20% cut).
THEY are still not using their own cash

Does point 4 have any baring when considering point 1 to 3?
I may be WAY off and the two carpet baggers think there is funding on its way ( or OM is decent enough for them to get a quick buck)
The rest of the team had to pay for shares
Consideration:
..but COULD there be another reason i.e. if OM does not pay out the amount hoped for (remember Edfison are only quoting 30mil, if I remember correctely) would FiG negate the tax looking to force RKH to merge with PMO thus helping PMO project investment/ final returns?
Rgds Sft

Any reasoning behind that deduction Godder?
Rgds Sft

Hello Henry, you and NigO, never counter anything with discussion. All you have is pretend "research" ( which you never share, strangely enough) and implied inside knowledge.

Heres a bit of info to look at: look at the dates for these projects from finding to apprasial to sanction.
What people MAY take SOME heart from is that projects do sometimes maje it: one (of the 7 detailed below) project was discovered in 2012 and another as far back as 1974! God help us.
BUT others with larger operator backing move a lot quicker!
I still appreciate crash 14 and crash 20 are not Sobel's fault but his ineptness and greed is just too obvious. You and the the little half stripe do yours no favours throwing rocks at people who can see the obvious, with out ever bothering to say anything other than sling insults.
Never mind you and NigO disagreeing but your putdowns are juvenille and true to type (v).
I really, really hope NAVITAS AND PMO find the funding AS Sobel's squandered 90% of the money that was given too him BY INVESTORS and the several HUNDRED million by PMO and then has potentially given away more...yes that last move was worth +950k of shares (each!).

https://www.fircroft.com/blogs/7-fpso-projects-to-watch-in-2020-02222162838
GLA
Rgds Sft

Hey Yanbu- arabia, thank you for the feed back and your efforts. Maybe, as you ask, someone else has a few ideas. Carrot over on adfn was talking about galvanising PI's but not sure about how...One thought came to me was an FB page?maybe the way forward?
GLA
Best rgds Sft

BoD running out of cash
Took a 20% "cut"
Switched to grabbing the only asset left: shares
Sobel Moody and 2iC monkey Stewart via the "award committee" belive they have done so well these two monkeys can each have just under 1millio shares at nil cost (17th June)
Held an AGM with the ONLY comment they could manage was: all votes past
Did not publish the % numbers that voted for/against. Wonder why? Publish and prove us wrong on what we suspect i.e. higher than 5% voted against*

*Note: Has anyone out there with share cert (not nominee accounts) called RKH's
One LSE poster was trying to find out, any luck Yanbu?
If you do have share certs call:

RKH's Registrar
Computershare Investor Services PLC
The Pavilions, Bridgwater Road, Bristol BS99 6ZZ
Tel: 0370 707 1268
https://rockhopperexploration.co.uk/investors/advisers/
Would be very intetesting to know the numbers.

Rgds Sft

Thank you SBP.
A big lump to sell or buy in one go...not your usual RI type of tactics.
Rgds Sft

Anyone notice the odd "buy" today but dated 12th?
Jun-20 12:04:19 7.983 2,993 Sell* 238.93
SEE BELOW
12-Jun-20 15:57:56 8.20 3,148,669 Buy* 258.19k

15-Jun-20 11:56:33 7.96 20 Sell* 1.59
15-Jun-20 11:56:33 8.18 2,651 Sell* 216.85

Strange marked as the 12th in amongst todays transaction?
Any thoughts?
Rgds Sft

My take:
I took some profit from PMO and put it into RRE. My reasoning is this is a LT share pays good dividends, has a good director in AA (who also wants a high sp), looks at a low Oil and Gas to turn a profit, has significant amount in the war chest and once AA anounces his purchase of the assets he is after, the share price will move up some.
This (imo) is an ISA share...PMO a better trading share.
Will continue to add on any available oppertunities.
Rgds Sft

Sobel Moodyand Stewart knows how to squeeze their (our) cash cow.
Some seem happy to sing their praises right up until the door slam shut: "Shouting they would not do this to us."
That artical seems to fit the RKH BoD's profile quite well.
Good find GHS
Wonder if RKH BoD read this forum. Moody to my knowledge has never been interviewed by Malcy ( who had for many yrs been a fan). But Andrew Austin of RRE has been and is also noted in the interview how aware he is of info put out on chat rooms.
Damn shame AA is not interested in RKH. Give Sobel and Stewart a window seat ( in the celler) and raise the required funds.
Rgds Sft

Found by Gozzie over in ADFN
https://www.google.co.uk/amp/s/amp.theguardian.com/environment/2020/jun/12/uk-considers-ending-financial-support-for-fossil-fuels-overseas

Pressure growing against but, I think that support could still squeeze through for the FI's which would be hoped to be regarded as a special case.
.but as Gozzie comments indicate: continued delay is not working for us.
Rgds Sft

Thank you Yanbu.
Rgds Sft

Mogger no I do not.
What is usual is publishing the poll count. As previously stated it is of interest to know the count that voted against Moody.
Sft

Update: called the computerShare no. and got an automated reply.
Called ii and they thought that not issueing the % vote results "unusual"...but they would not contact ComputerShare directely to request the information. Not a service they provide.
They did say: If an investor held share cert themselves you "MAY" be able to quote your share cert number and obtain the information
So if anyone who has a physical cert fancies calling and giving it a go, it would be appreciated.

PoO holding better than expected so we only rattled the 8p. If we can keep off $35 and OPEC+ members adhere to their % $40 could be the new $60?
All rather fragile though:
1. Just need the shale to keep production down
2. Markets not get too spooked with GDP figures
3. How are the Saudi's going to get them out of the hole they have dug themselves into...does the US care anymore. The Kingdom is in real financial trouble.
Interesting time...do not see a lot of positives.
Would be good to get a positive (or any ) news regarding OM.
GLA
Rgds Sft

Hello all first post on this REE bb
Been a fan of RRE ( and big fan of AA) and the past drop ( April not mid March unfortunately) enabled me to buy in: slowly adding what / WHEN I can afford.
Been wondering what would be an attractive target for AA. Have just seen this artical and ask would some of Exxon North Sea assets suit AA tastes?
https://oilprice.com/Latest-Energy-News/World-News/Exxon-Prepares-To-Unload-North-Sea-Assets.html
Especially as RRE would not be required to be the operator? Good or bad?
In the interview with Malcy back in late April he also talked about the ability to borrow?
If not Exxon then who is selling enough to fit AA's requirments?
I am struggling to fully identify the assets that Exxon) are involved in ( apart from the Brents which obviously would not be on the table i.e. getting decommed).
AA would have to be carefull as a lot of Shells Assets ( Exxons partner) are old.

Could AA be looking to take the Southern (SNS) part (Gas) of the portfolio and leave Ithaca energy taking Northern (NS) assets (more oil orientated).

Still decom the issue again in any of Shells assets.
This post is just by way of forum consideration/ disscussion. Thought???
Rgds Sft

Jumped out of PMO at 47p then spent the next couple of day, wringing my hands thinking I had made a bad move. Then came back in (30%) at 43p. Now thinking this could run down a bit.
Will PoO (Brent) go to $30...cant see it...with the OPEC+ deal holding. So is a reasonable guess $35 to $33.
Not sure how RKH is affected....the only barometer is:
Whats bad for PMO is bad for RKH
Low PoO bad for Navitas sales team
Low PoO below the $45 project go /no go
Will some of the new low RKH buyers take a profit?

What was RKH when Brent was at these levels and dates......although should be stressed that was BEFORE PMO strurck the approved deal with BP. So that has added to the confidence.
May 29, 2020 35.33
May 28, 2020 35.29
May 27, 2020 34.74
May 26, 2020 36.17
May 25, 2020 35.53
May 22, 2020 35.13
May 21, 2020 36.06
May 20, 2020 35.75
May 19, 2020 34.65
May 18, 2020 34.81
May 15, 2020 32.50
https://m.uk.investing.com/commodities/brent-oil-historical-data

Do not be supprised that the "sneak" will TRY and off load some and thus dragging it down a bit.
All my opinion ONLY ...but keep an eye on sells tomrw
Rgds Sft

Registrar
Computershare Investor Services PLC
The Pavilions, Bridgwater Road, Bristol BS99 6ZZ
Tel: 0370 707 1268

https://rockhopperexploration.co.uk/investors/advisers/
Rgds Sft

Voting results: ".......A company must publish the results of a poll taken at a General Meeting on their web site (Section 341 of the Companies Act 2006)............"

https://www.sharesoc.org/investor-academy/advanced-topics/general-meetings/obtaining-voting-results/

Rgds Sft