Member Info for Surfit

Hahahaa Someone is getting a wobble on
This has to be the best quote yet:
".......it's a must that you do your own research (or just copy from wikipead and not state sources ever) before voting, reading and believing their posts (those posts are extracts from RKH RNS????) and following their instructions will be (THIS IS THE BEST BIT) bad for your wealth!....Simples............;-)"
Yep Sam "Sobel" Moody been good for every bodies wealth...ooo hang on I meant his...more shares to come his and Stewarts way, more bonus's and maybe a pay rise because they sure as heck are not reducing their salaries are they...the cash is going, going, soon ALL gone my little half jack, now that is bad for every bodys wealth. By not seeing facts and trying to counter...usual tactics: try and undermine the messenger(s) never the message....yawn...your in too deep son.
Sft

Of course sorry monthly payments for Moody and Stewart that is on top of the addtional 4 million shares that they have awarded themselves in 2019.

Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin and the Greater Mediterranean region, announces that on 31 July 2019, certain Directors (GUESS WHO FOLKS added Sft ) were granted awards in the form of options to acquire Rockhopper shares under the Company's Long Term Incentive Plan which has been operated annually since its approval by shareholders at the 2013 Annual General Meeting
Details of the awards are shown below:
Sam Moody (CEO) 2,100,000

Stewart MacDonald (CFO) 1,900,000

The awards are structured as nil-cost options and, subject to meeting specific performance criteria as outlined below, will normally vest three years after the date of grant

https://www.lse.co.uk/rns/RKH/rockhopper-exp-plc-grant-of-options-under-long-term-incentive-plan-apauhfu8tt224jj.html

No wonder they DO NOT buy them...too risky hey?
These two are not going to stop folks, until you use your vote.
Rgds Sft

Hi Cyan and also Muchabout (if your still with us)
Looking at companies house and Rockhopper Exploration plc
I see the term "Rank Pasi Passu" applied to a regular number of shares being allocated
Not sure what this share movement or allocation indicates. This does appear to happen every month.
Was rummaging around looking for any detail on costs/outgoings..can anyone enlighten me?

https://beta.companieshouse.gov.uk/company/05250250/filing-history

Rgds Sft

But now Ineos have some decent assets since 2017

""Energy giant Ineos has struck a deal to acquire the Forties Pipeline System in the North Sea from BP for US$250m (£199m).

The pipeline transports about 450,000 barrels of oil per day on average - about 40% of UK production.....

......The 235-mile line links 85 North Sea oil and gas fields to the UK mainland, and to the Ineos site in Grangemouth.

Sites at Aberdeen, the Kinneil terminal and gas processing plant, the Dalmeny terminal and the Forties Unity Platform will all transfer to Ineos when the deal is completed"
https://www.google.co.uk/amp/s/www.bbc.co.uk/news/amp/uk-scotland-scotland-business-39476674

AND

PMO TD has to pay for use of the Pipeline (artical below says currently £1.20) ...getting to be a bit like the railway system out there now....he must have signed something up with Ineos (Owned by Ratcliffe) , as Apache are not happy with them
So take that cost out of calculations

"US firm Apache has taken legal action against petrochemicals giant Ineos in a row over the Forties pipeline in the North Sea"

https://www.energyvoice.com/oilandgas/north-sea/217328/apache-ineos-in-legal-row-over-forties-pipeline-tariffs/

Rgds Sft

Oppps should read "Apache done quite well from it and PoO was around "$27.69 then ($ 38.84 adjusted for inflation for today).

https://inflationdata.com/articles/inflation-adjusted-prices/historical-crude-oil-prices-table

I remember when BP sold the Forties under Brown in 2003 to Apache...Apache done quite well from it and PoO was around "$27.69 then (adjusted for inflation for today).
https://inflationdata.com/articles/inflation-adjusted-prices/historical-crude-oil-prices-table/38.84

"The importance of the field has made it a status symbol in the North Sea. When BP sold its 96% share in the field for $812 million in 2003, some traditionalists likened it to selling off the family silver.

Apache Corporation, who bought the field, immediately initiated an intensive re-evalutation of the field and found a further 800 million barrels (130 million cubic metres), extending the field's life by at least twenty years, making the investment by Apache a very profitable one.[11]

Although they lost out on producing the additional reserves directly, retaining the Forties pipeline system allows BP to profit from Apache's exploration investments without needing to invest anything itself"
Note info from wikipedia

Interesting to know that Andrews
"Processed oil is exported to the Forties pipeline system then on to Cruden Bay.
Natural gas is exported to the Central Area Transmission System to Teesside"
Also from wikipedia

The big oil companies just can not run these assets economically.
How can PMO use their large UK tax credits...bit risky using exploration, build costs, risk and decom costs.
Lot easier for TD this (Andrew) way with easier profit /loss calculations I would have thought???
Rgds Sft

I Should have added

"NOT the unproven shouts of 1x ramper who is the only one who is " "supposedly" a millionaire, "supposedly" making money and who has "supposedly" 4, 6 or 8 million shares in RKH now"
True I may be doing the guy a massive dis service and he has what he has but he has been able "supposedly" to buying himself a breathing space by continually averaging. He does himself no favour with his style of debate (dangerous and unsubstatiated ramping at its finest)
Most people do not have such "supposed" resources....and we ALL find ourselves in just hoping that Navitas will come through infinding the required cash...not RKH they can not raise it SO yet again they have to pay someone else (% asset ownership lost) not even PMO feel they can secure the required funding.
BUT as before most as its been said by other stick the certs in the drawer and keep your fingers crossed we dont lose the lot.
But by voting Sobel Moody out we have a chance to replace him with a Captain Winters instead.

Rgds all Sft

Hi Citizen
Do you have an example of such enforcement?

Cyan found one and posted earlier:
"Here is another interesting link;

"hTTps://www.reuters.com/article/us-pakistan-mine-military/world-bank-court-orders-pakistan-pay-58-billion-damages-to-tethyan-copper-idUSKCN1U80GT

"A World Bank arbitration court has ordered the Pakistani government pay damages of $5.8 billion to Tethyan Copper"
"The company said it had invested more than $220 million by the time Pakistan's government, in 2011, unexpectedly refused to grant them the mining lease needed to keep operating.
The World Bank's International Centre for Settlement of Investment Disputes (ICSID) ruled against Pakistan in 2017, but until now had yet to determine the damages owed to Tethyan.
Tethyan board chair William Hayes said in a statement the company was still "willing to strike a deal with Pakistan," but added that "it would continue protecting its commercial and legal interests until the dispute was over. "

Further comment on that case;
hTTps://www.cadtm.org/Illegal-projects-How-World-Bank-Arbitrators-Mugged-Pakistan"

As he stated NONE of us what the same for RKH and ALSO shows the potential size off award on damages (related to THAT case, it may not be ours) but when has anything gone this companys way?
BUT to be pessimistic is (IMO and experience since 2016) a more realistic approach than optimistic...that has cost many.

I also appreciate these posts can be seen as de ramping BUT the negitivity is based on real life examples and RKH investment history. NOT the unproven shouts of 1x ramper who is the only one who is a millionaire, making money and who has was it 4, 6 or 8 million shares in RKH now.

The project is a GREAT project but it is ridiculous on how its been managed and the % given away and how much money do we have left.
Vote Sobel Moody out.
Rgds Sft

What also distubs me is this companys seems to face issues on every thing it touchs including Egypt.
This is a historical fact and who are to be held accountable: the captain.

Whos going break it too Moody though?
https://youtu.be/sxhUCM5ea8I
GLA
Rgds Sft

Hello Cyan,
It makes you think its a committee of 2: Sam and Stewart!
Vote Sobel Moody out. A little birdy told staff are worried too. Recorded ealier:
https://youtu.be/oSL4oLkLRUM

It maybe our votes against Sam Moody have no affect....but you never know. What it would indicate is how many small personel investors read this or the ADFN board.
I would think short term holders are not concerned may be hoping for a profit (gamble) on a sp advance on OM. I hope your right but we are in very different times and getting several hundred million from the italian government would probabley take a "few" years IF that is what people belive RKH will win. If that is the case you short termers better think about voting Moody out too...because the real fact is...he and Stewart will have spent what is left by then..just look at the history...its clear.
The "littel half twist" on adfn (he was banned from here for being abusive several times then permanently) trys to shouts down any rational talk...but...well make your own minds up.
Do you REALLY trust Moody after what his track record shows. We certainly have enough time now that PMO are refocused on reducing cost for the short term. We need a change of captain who steers away from icebergs not consistently into them.
GLA
Kind rgds Sft

KenniGT, that is a crucial bit of information:
" ...PMO needs BP assets to be able to convert full debt to Reserve Based Lending. Now it can convert only part. And this is what is all about..."

I have not heard this before, has TD stated/indicated this is the way? What are the barriers and timescales involved i.e. who would be the potential lenders.
This would be for ARCM part of the debt or the whole. As the court case revealed the other lenders seem to think TD is going about it in the right way...only ARCM seem to object.
Thank you for the info
Rgds Sft

Mean while back in the real world: This might be a good time to get a 2nd hand FPSO ...now that could save PMO and Navitas a bit of cash.

https://oilprice.com/Energy/Crude-Oil/Oil-Producers-May-Ditch-Old-FPSO-Offshore-Projects-In-This-Downturn.html

Rgds Sft

Yep its all been going great guns since 2012????

When did you come in Henyg, when RKH went low enough for you to make a retun on a OM pay out and bail?

Have a chat with the "little lance jack" any news on OM, or what does his little swallower say about how Navitas are getting on......

BOOM.....there goes the mike hahaha

Rgds Sft

Hi Fecm,
You make a valid point in disruption and can see the validity in your comment
BUT
There are people out there that invest in their own companies i.e. Andrew Austin of Rockrose a shining example.
Moodys contacts are irrelevant for the FIG, PMO are going to be the operators...RKH will have no or very little say (as is the case now).
More importantly I would imagine the FiG would have seen how Moody has failed not only down there but in his subsequent ventures..he "may" have lost "some" credibility.
By voting to remove Moody your % is part of sending a message, affecting change and protecting what cash is left..will he and Stewart give themselves another bonus this year as well?
Remember they have also written in a massive bonus on sanction...not first oil....which is the proper thing to do. Robber Barons imo.
Also
Nothing is going to be happening quickley better getting rid now than next year. He and Sewart are really not the men for the job or future.
If you trust him, I disagree but obviously respect you are a fellow share holder.
Kind Rgds Sft

Hi Cyan, thank you for the information. Good ferreting of data.
If reading correctley a negative in that we could lose 50% of the award but a positive if we can obtain damages i.e through loss of potential earnings.
I "think" the layers costs were 50% of final win..cant remember if that was the post way back or if it was substanciated with a proving link.

I am naturally pesimistic towards the pay out size (and hoping to be wrong), and Edison may be prudent in doing the same i.e. although RKH paying for their services they can only go with facts (IMO).
Could RKH borrow against a positive and known result I wonder?
Re further posts on PMO, I think we still have to remember TD inherited SL and still answers to the creditors That saved PMO. With the BP purchase its income now against their large tax credits in the UK. So if the production figures (balanced along with decom costs) work out then it continues to reduce their debt...I guess thats why all but ARCM approved.
But (again only my opinion) the creditors will not allow PMO to go it alone with SL (after solan disaster) in this unstable market.....
But as you posted previously regarding the sanctioned deep water project...Navitas may find a backer...positive being further investment in the permian would be more difficult but proven "Big Oil" a safer bet???
Again thank you for your digging for info.

The "little lance jack" has snuck back on here...but better here than interupting serious debate in your main house :-)

Godders: I buy with Interactive investor they sent (via their site) the electronic voting form and I completed it electronically....how do you purchase your shares? If its over the phone via a broker, contact them, they will advise?

Vote Moody out deadline 24th of May ( on my ii form anyway).
GLA
Rgds Sft

Who thinks Hg sound like someone else we all know?
Same tactics too: Discredit the messenger because he can't counter the message. Never contibutes to debate. Just "dyor"..like paste direct from wiki (left tags in ffs) when pretending to be informed about Navitas...i.e not showing source as others do by including the link.
Arrived after the "little lance jack" was banned too....?
It was either cyan or sch that actual hunted out and converted Navitas info from the Hebrew and posted. Effort shared, aye.
Why do they/he never critique the BoD....now that is a question to ponder...are they not to be held accountable?

Eddison OM "......We estimate that these will be recoverable at c $20m on a risked basis in our valuation using a simplified approach, which assumes a 50% chance of recovering the associated acquisition costs. We have not carried out a loss of profits calculation, but PRESS reports suggest it could be materially higher, with the claim running up to €275m plus interest..."
Would that $DOLLARS$ NOT sterling be subjected to the lawyers taking their 50% cut out?
Can any one tell me if the ruling will has included lost revenue.....may be the "little lance jack" could advise? For once...but pig may also fly to get a straight answer...i.e stand well clear and wait for usual blah blah replys.
Rgds Sft

Thanks to Sch, on ADFN for the post regarding a new deep water project sanction in the GoM. It is encouraging for SL prospects and may/should help Navitas in raising the required capital.

Vote Moody out
Protect RKH's future. Not reduced his wages, he and Stewart have actually TAKEN bonuses when the SP has fallen year on year, failed ventures, terrible contract negotiator, squandered cash reserves.
He deserves to go, this sends a message to the BoD's.
Vote Moody out

GLA
Rgds Sft

Well a minor good day to record: ii have just sent out the electronic voting form for the AGM. Must vote by the 24th of May.
So I can now hopefully start a warm up to Christmas May.
I ask all that that read this bb to not vote for Sam Moody to continue in his position.
We have heard of most oil companys reducing excutive pay but not Moody or his 12 Monkeys.
All they have touched has turned to dust.
Yes there remains a reasonable chance that PMO may get the job done, with the help of Navitas. But my my how much has Moody given away not only in asset % but squandered in cash (200 mil...or is it more?). Yes I can be accused of being a de-ramper, If dissatisfaction and disgust at what these fools have done with what is a fantastic oppertunity.
Nigoil will say i and others are some boiler room gang and shorters ( check out short tracker). I am not
I have averaged down to stay with, but unlike NigOil (who made millions reportedly) could not continually gamble on the facts before me. Of course do not sell...its too late....but do not let the chief monkey drag us down further not take in salary and un warrented bonuses our remaining cash reserves. Send a message and vote Moody out.
I would also say the reason why Nig accuses any disenters of being shorters (remember to check short tracker) is he may have pulled other peoples money/savings into this and its what he has to say. Now who is running the scam?
If you have bought in recentley then weldone, but its a long way to go...and a more dangerous road with Moody steering the ship.
Vote, make it our Moodyexit.
Rgds Sft

Very interesting to understand how the SP could fluctuate in such a manner over such a small time period with the volume and size of trades within that time period?
Why and how?
Rgds Sft