Member Info for Tacotaco

Auson, i've been following up with Sea Lion since 2018 and spoken with Infield Systems, the upstream supply chain guys in Wood Mckensie, and an off shore engineer in a German Oilfield service company (dont remember the name TBH) otherwise the Major i usually visit are mostly not taking on new Deep Water projects and focusing on Vertically integrating Shale upstream within their own mid stream and down stream operations to optimize efficiency.
Im not aware of the FPSOs and details you just mentioned but the guys i speak to keep mentioning the lack of financing and interest because in this environment viable at 60 is very unattractive.
So in conclusion, these projects have not been scrapped just delayed indefinitely waiting favorable market conditions... this is why timeline keep being delayed... no one is in a hurry especially with demand uncertainty on the horizon.

Auson Sea Lion (RKH) is dead for now... all E&P and Majors are focusing on low cost project and Shareholders Returns...
Sea Lion has been off the radars of all industry players (oilfield service providers, research house, even majors) i've spoken with simply on the basis that there is no economic incentive to develop it in such oil price environenment.
The project will come back to life at much higher oil prices but most importantly with the return of confidence in the sector... that last bit usually follows a period of sustained higher prices.

Downbutnot out.... i specifically mentionned "wont recover anytime soon" and "start building a position"
i think most people try to catch a falling knife then forget to build a position after failing to catch the bottom...
No one will ever buy at the bottom nor will they sell at the top... need to accept it.
At the end of the day the impact on production is 5-10%... does it really warrant a 30%+ drop in SP??... NOT SO SURE...

Hopefully and most probably overdone... but won’t recover any time soon.
Good entry point to start building a position.

Your assumption's kinda correct Daisy... obviously pretty unhappy with the performance but luckily diversified enough not to be attached to this company.
Basically the reason why i invested did not materialize so its time for me to move on... finding a new reason to keep holding is like a vicious circle (my personal experience that is)...

Illaqueens,
I think this goes back to history and all their promising ventures that never came to fruitition from venture in Thailand, Spain endless RNSs stating potential JVs none of which matrialized.
My only hope (and im sure this goes for the many on here) was the African mine... sold too cheaply and early. Management was solely reliant on MOD and MOD themselves were not up to the task.
MTR was then forced to sell the thing but got itself some long term sweetners.
Unfortunately investors do not invest in Junior miners in anticipation of such a scenario... they invest in the hope of bagging 10x to 100x on the back of discovering a mine that would be sold at a later stage once significant value has been added to the project including market cap...
After the sale to SFR any potential multi bagging is out of the question simply given big market cap of SFR.
Investors in Junior mining are not interested in companies that would at best double or triple their invetsment hence lack of daily trading activity in the Stock leaving the SP "undervalued". Management is still giving the impression of significant returns which is being interepreted by existing shareholders as multibagging... i doubt this is realistic.

Totally agree MikG apart from the the bit where "its hardly the company's fault"... unfortunately this isnt and hasnt been trading on fundementals but on confidence... and confidence is not there no matter what actions the management takes...
With all due respect to the US$1million dividend to such a minnow like this the market propbably sees at as barely covering CEO's compensation...
The credibility damage caused by the management i think has been generally underestimated and commanding a massive discount to the SP... for that reason i'm honestly looking for an exit... waiting for the next spike...

This is so tempting but my only issue is... do i trust Brits mining!!

Sorry havent been following up on this... have the PJ and gang sold out of this?

I dont think anything coming out of SFR will move the needle here ... MTR has played every trick in the book to get this moving ... Sales to SFR, US$1million Dividend payment, sharebuyback... any other company wouldve been up 10x on such kind of news (let alone on only one of these announcement).
Time to admit the mismanagement of this company, loss of credibility from overpromising and underdelivering...