Member Info for Surfit

Q/A with these guys would not be of much value (imo). They would bluff it and their track record speaks for themselves.
The seminar from Rocckhopper: 22 Months in the life of sn oil company
This video was in (I belive 2014) and REALLY demonstrates the RKH managements attitude towards money that is not theirs.
Fionas speech (as has been proven) shows the top down driven past and CURRENT attitude projected and lived by Moody and his 12 Monkeys

https://youtu.be/J685wm4Ewjc

Check out around 16:39 then again 18:39, 19:00 onwards....and all this was BEFORE the cash from PMO has been squandered...from previous fund raising
19:00 is typical "only then did we realise how much consultants cost....."
What the F*CK are we pay their wages for...folks.

Oil development is not cheap, I know that.
We would monitor vessel costs and account for each minute! of vessel time..But I know the difference between a management that cares and those that do not.
A certain Subsea service company blew nearly 300mil in Brazil. Hard earnt profits squandered. No one got sacked either!
https://www.energyvoice.com/oilandgas/38536/subsea-7-hit-by-brazilian-project-losses/

Rgds Sft
Use your VOTE

Ralph, its an opinion and a debatable counter is always welcome?
I err more to your frustration and disillusionment but...
Will you add your vote for Moodys/Stewart removal...from the past, if I remember your holdings are not too signifcant but all votes will help?
I only hold just over 230k No. of shares so am a long way shy of being a "significant" investor, but its def a lot for me.
I have appreciated you are sick of the failings/excuses and have been weathering it for a lot longer than my error made in 2016.
Rgds Sft

Ps I had to call iii to get my voting form from them for previous years agm.
Rgds Sft

Hi Mogger, thank you for taking the time to reply. I also want to say your contibutions to this board have always been objective and informative.
I agree that the challange to develope such a site are immense.
Shell developed the Orman Lange project from scratch and faced many site development, not financial) issues that were imo more challanging than Sea Lion: Building of Nyhamna, prepping and laying the PL down the Storegga slide the slope terrain, water column variable currents, template installations, HXT installations extensive large 36" to 42" subsea pipe lay is one of the longest in the world..back to the UK. Good overview on:
https://www.offshore-technology.com/projects/ormen-lange-field/
Note: Total are facing a REALLY interesting development challange off South Africa

But we are obviously not at the developement stage are we. I fully agree that the 2013 crash was a disaster for the project and the know Argi issues..its the actions both before (contracts) and after (money squandering, very bad investment decisions, Snr wages ) of Moody and the BoD I have come to see and belive are a real danger to the companies survival.
PMO's issues are an obvious factor but good and tight contracts could have protected us more.
I also agree that mindless post disparaging the company is pointless and I continue to filter those that do....but I do I belive I consistantly remind as you suggest people to use their vote. It may seem a bit laborious but as you indicated with the numbers that voted against last agm...it appears to be required.
I unlike richer supposedly "informed" and supposedly brilliant investors have reached my ability (and nerve) to continuely average down. But that is my problem and not others.
Like ADFN bb Cyan/Sch etc etc I wish you and others like Much continue to input and debate (and point out (my) errors). (-:
GLA. Use YOUR votes
Sft

Yes found an artical with a date on it cheers.
Where do you stand Mogger: pro Moody? Do you belive he has done an adequate job?

I look at the likes of the Rockrose BoD and see results, commitment and an ambition to move up?
I obviously do not see that with Moody..from all points previously raised.
Rgds Sft

Found the sourse artical 18th Jan 2020 (Not 18)
Rockroses sp peaked in 16th of Jan 2020...

https://www.energyvoice.com/oilandgas/north-sea/218903/rockrose-energy-loses-north-sea-assets-to-taqa-after-partners-raise-serious-concerns-in-court-2/
Again good find Mogger, appreciated.
Rgds sft

Hey Mogger, good find....was this artical back in 2018? How did you dig that up? Was their share price was around 120p before that and rose up to around 320p by Feb 18...do you know why that would be? What happened after? Any other relatef info?
They do seem to have some support though...share price was pretty good before virus...of course there board has not issued as many as our leaders have....kerrrrching as our BoD would say.
Rgds Sft

"The Saudi sovereign wealth fund has bought stakes worth a combined $1 billion in four European oil majors: Shell, Total, Eni, and Equinor, the Wall Street Journal reported citing unnamed people in the know......"
https://oilprice.com/Energy/Energy-General/Saudi-Arabia-Is-Buying-Up-European-Oil-Majors.html

Now if Navitas or PMO were looking for some funding maybe it might be worth making a phone call just do not let Moody and the 12 Monkeys near negotiations...or hands on any of the cash.
Rgds Sft

Remember to have a good read of the ADFV bb.
The RKH BoD's will get away with not having to face share holders.
No one (imo) can belive that the directors have made a good move since "the find".
It is essential that these guys are removed. They will not make wage cuts, they have not invested, they are worse than inept; they have signed terribly contracts (PMO payments & and no penalty clauses), they made naive errors in italy, Egypt cash supply issues & a drilling campaign that we did not benifit from.
Ensure you get your voting forms from either your broker or investment platform (email or tel) well in before the deadline.
If you need to think who should run what we have left...just look toward Rockrose energy's BoD for a good example.
These RKH guys will not stop blundering...they really do not know what they are doing (Oil wise) and will not stop in taking the companies cash.
They may (I doubt it though) make a token reduction gesture at wage reduction...but this should have been done several years back.
Vote the whole board out. Sounds drastic but vote RockRose in.
It has also really unbelivable that there has been no take over or buy out of this reaaly cheap company....remember we have a deadline with our licences, we will have to go back and hope the FiG grant another extention...if I was them I would be looking for a deal with PMO directely or another venture capital oil company. They will know Moody has blown it.

Rgds Sft

The problem is you cant belive anything Rusia puts out as its smoke and mirrors. You cant belive Trump because he shoots from the hip and can be driven by emotion.
Until there is a formal announcement that Saudis and the Russians are getting back around the table ( which if it was announced would indicate there would proable be a deal to be made) the only thing I belive to be looked at is:
"Reported" outputs
Virus status* (affecting world demand) COULD be the dominent factor. AS this was the initial reasoning as to why the Russians reportedly did not cut 500,000. But if thete is no market and the price had fallen anyway...when does cutting mean nothing but can gain some leverage for the Russians.
"Reported" storage status
Tanker rates/availability

*Note: Can we feel infection rates are in remission in most counties. In particular the US, India, indonesia, Japan, Europe and South America.
Some of these areas will not have the medical infrastructure as 1st world counties. So flights could be restricted for a considerable time.
All imo only.
Rgds Sft

ADFN Walter Mitty just reported he filled his boots again and amaxingly just off the latest peak bottom. Strange how he get it so right when virus was still increasingvand Saudi's going to flood the market. He is one clever investor...and made a fortune out of 88e and PMO at the same time.

Classic example of a fantasist:
A person who imagines or dreams about something desired.
"a serial liar and fantasist who had boasted of many (business) affairs"
Feel sorry for the ADFN board, was a good board once....I blame Ralph you know (-:
Rgds Sft

You just never know with this man. As others have commented on: his tweets move the markets and are his family or contacts benifitting from it. The Saudi's (MBS) will not trust him (IMO) again after he double crossed them on giving dispensations to countries on oil embargos a couple of yrs back.
Putin will play him to, they will be stringing him along...why help when Russia still have US sactions?
Tarriffs suit his style more i.e. he can impose rather than ask and negotiate. He would precieve such negotiations as weakness. It helps the US shale industry, jobs and his presidential "USA, USA USA...." image. Could it satisfy his financial shale aid (enviromentalists) opponents.
I am unsure as to what other factors may be opposing this potential move towards tarrifs ( from a US perspective only of course..any comments?)

Intresting to see that renewable stocks are doing quite well...continuing their steady upward movement.
Rgds Sft

Previous OPEC quotas finished today.
"In the meantime, OPEC producers Saudi Arabia and the UAE are preparing to flood European and Asian markets with crude. Bloomberg reported that the Kingdom’s supply has now officially surpassed the 12 million bpd mark, compared to 9.7 million bpd. While some analysts remain doubtful that the kingdom is able to produce anywhere close to 12 million bpd, Riyadh is already resorting to drawing crude from its inventories to boost exports, and Saudi authorities have instructed Aramco to ramp up supply to 13 million bpd."
Oil price news

Saudi's cant keep that up surley? only takers, once storage if filled, will be traders (or China) renting takers... super tanker day rates are up +600% companies like "Frontline" doing rather well.
Trump could not pass financial aid for shale...only option is tariffs on imports or getting them talking as you say...will MBS let exports run a while, to pressurise the Russians or risk US trariffs
Note: "The U.S. imported 328.7 million barrels of oil from Saudi Arabia in 2018, an all-time low since the EIA began tracking the Saudi numbers in 1993 and about half of the peak in 2003"

Anyone got a drone handy?

Rgds Sft

What must be considered is the fact that the world has not peaked on the affects of this virus in anyway. The US appears to have not geared up to defend against this suffeciently.
So has PoO bottomed. My bet is no. China may have but their customers have not.
Keep safe, keep isolating.
Terrible news that 63 doctors have died in italy, due to lack of ppe.
Rgds Sft

It is also worth remembering in Jan and Feb we were worried about ARCM and the suprise non (or delayed?) sale* of Zama
We did not see this developing into a real cost. So those that bailed early weldone. Dum nuts bought in too early seems 18th/20th of march is the pivitol day for nearly all share moving back up.
Trump may or may not get bail out approved for shale. Looking like he will not...hence after trying to bully or entice MDS into playing along he has obviously been told: NO go see Putin, its all his fault.
So we could look at that and say there is a desire even from the US to see price back UP e.g.+ $50
Rgds Sft

*Note: WHY (unless I have missed something) has PMO NOT supplied any detail on this. This is not hood enough. There was an issue before virus so clarity / update required.

I do remind you the reason they are in court is because of ARCM not the other debt holders.
Not saying that running the numbers again is not a bad thing regarding any purchase.
Its difficult to belive the like of ARCM when they run a large short. Having a cover on failure may be prudent but would influence the end goal.
Would they be like a medical company that need sick people ( company) to make money.
They would have no vested interest in the sucess of the paitent just keep him alive and paying. That is the follow of you logic correct: ARCM are just there to make money. As is PMO its just that PMO are follwing their bussiness in trying to do that and ARCM theirs...the two may not be compatable?
Rgds Sft

SK: No mention of bears, so no "I told you so" allowed.

Ahhhh new RNS just token share grab from the 2 chief Monkeys.
https://otp.tools.investis.com/clients/uk/rockhopperexploration2/rns/regulatory-story.aspx?cid=441&newsid=1382761

Rgds Sft

Poster on ADFN ( thanks ) raised comment thete will be an RNS next week. Could not find reference except from previous RNS March:
"........In addition, the Company confirms that it intends to announce its full-year 2019 results on or around 7 April 2020."
So I would not get too excited folks. Still something to scrutinise...a "detailed account" of spending would be nice.

Too late to bail, so just keep fingers crossed that Trump but an import tax on oil into the states...there will be no rabbit from the hat via OPEC+ for sometime i.e. min june meeting (imo).
As ever GLA ( WE need it).
Rgds Sft

that trump will see this as a win win for the US shale industry, jobs and him?
"The President of the United States has the power, at his sole discretion without any other authority, to place a fee on imported oil or products. It becomes variable when a base price (floor price) is set and a fee is paid on any imports where the price on imports is below the base price. If the base price for oil was set at $50.00 per barrel and the import price is $30.00 per barrel, then an import fee of $20.00 per barrel would be paid to the United States Treasury. Likewise, if the import price (world price) is $50.00 a barrel, then no fee is paid. Thus, the fee is variable depending on the price paid for an imported barrel........"

https://www.google.co.uk/amp/s/oilprice.com/Energy/Energy-General/The-Cheapest-Way-For-Trump-To-Save-US-Oil.amp.html
Rgds Sft