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There are two choices ....Accept the offer and get the option to recover some of your investment back or refuse the offer and get nothing back. Its that simple !
Then vote against it and see what happens....Guaranteed, Young will dissappear for 3 years and the remaining cash will be squandered, that's option B.
One has to be realistic, there is already very little in the pot & it's diminishing every week.
Seems my complimentary post - agreeing with everyone here on what an excellent working relationship Rkh have with FIG and how they are kindly protecting Rockhopper by having complete control over all their assets & refusing to sign the tax ammendment- has disappeared !
I'm sure we all agree, its reassuring to have someone like FIG working with you & protecting you from all those hostile take over bids π
I see no point voting against the proposal regardless of what it is as its the only way I see of getting the oppprtinity to monetize the remaining capital I have here.
We may even see an initial increase in valuation if the story brings in some pharma punters.
Refusing any offer will simply allow Young to spend the remaining few million seeking other potential opportunities and holders will then get nothing so I don't see any other viable option of monetizing the remainder of my investment here other than accepting the offer.
Exactly like I said Alma, whyever you got yr knickers in a panicky twist over this I have no idea !
To think that a multi-billion company would forget their accounts and need to be reminded by yourself was always Preposterous beyond human imagination.
Listen to yr Daddy in future π
SNO ; I would like & hope that FIG are indeed our friends and working with, not against us but its unfortunately not the impression I'm getting.
3 years (and still not signed) to sign a very simple tax ammendment seems unfair to me & I'm it's looking like OM sign off is going yo the wire or possibly beyond.
Hopefully, they are all working togeth
I expect Navitas to force the stubborn Hillbillies to sign OM off before the deadline as it could have a detrimental effect on the project if they continue to refuse.
As for the Tax Ammendment, I don't see the Hillbillies giving any ground on this and it may have to go to arbitration.They have refused to accept the tax ammendment for 3 years now and I don't see them accepting it anytime soon.
One thing's for sure though, FIG is most certainly not our friend & they don't appreciate that Rkh (& Premier) have already spent a Billion on the project without seeing a pennny return, the Hillbillies simply think every listed corporate entity are eternally capital rich and out to take advantage of them and pull their Hillbilly pants down so they fight tooth & nail on all & every issue as proven with OM & Tax Ammendment.
LTT ; Whether FIG decide to sign off OM or not is irrelevant as from the 30.6.24 either side has the right to terminate the agreement so FIG actually have no say in the matter, although I expect the power hungry Hillbillies to sign beforehand , if only to save face but as I said, it's irrelevant what they decide to do or not to do on the matter.
As for OM, I would say 70% chance of Q4, with Oct being the favourite month, and 15% chance of before or after.
As for OILs 24 price prediction, its as valid as anyone else's at this point in time,although I do not concur with it but if it all lands in 2025, so be it, I will accept that .
Personally, I'm going with the month Sam gave me, give or take a month and I'm going with Navitas's stated timelines on FID with Funding being announced a month or so before but that's just my take and its no more right than OILs until proven otherwise.
Of course, FIG have also still yet to sign off the Tax ammendment for the free carry rkh never had.
FIGs been 3 years on this issue now and it would be good if this is resolved too.
I suspect Sam's recent trip to the FIs was related to both OM & the Tax Ammendment so hopefully we may hear something soon.
Naturally, the ammendment will have to be put through both legal teams & well as the necessary departments at FIG so this may take longer than the OM sign off,but nevertheless, I fully expect the ammendment to result in Β£0 owed -regardless of how long FIG take on the matter.
Well, it's perhaps somewhat on the ambiguous side but my take is that FIG have to legally sign OM by the 30.6.24 otherwise either side has the right to terminate the existing agreement.
Hence, if FiG don't sign (non completion) Rkh will use proceeds of the award to pay special funders legal costs 'they have incurred in the process'.
It cannot be to do with the annulment decision as the panel will never give a fixed date by which they will make a decision, so that's simple.
So to me, FIG have been dragging their feet signing OM off so the specialist funder has used a legal team to resolve the matter, hence, the 30.6.24 deadline for FIG to sign,otherwise the existing agreement can be terminated by both parties and Rockhopper & the specialist funder are FIG free on OM.
It's the FIG being slow & stubborn again but The Rockhopper team's got some big friends in the Specialist Funder on this and they will not be messed around by stubborn FIG Hillbillies, so whether FIG comply or not, the existing agreement expires on the 30 6.24. So that should be the latest date FIG can drag signing OM off .
It's important for both Rkh & the Specialisf funder that they are not hindered by FIG on this matter as Rkh will need the cash to fund its share of the costs and the Specialist Funder needs full authority over OM before it will pay Rkh so legal enforcement had to be implemented by the Specialist Funder to resolve the matter and it will recover these costs from the award proceeds.
I see this as good news and it matters not whether FIG comply or they don't.
Roll on the OM Decision now this irritating issue with FIG has been resolved.
It seems RYs strategy is to use the remaining shareholder cash for his own salary and administration costs in 'pretending' to continually seek opportunities merely to prolong his salary .
Let's be honest, it's no surprise, RY & Co were only ever in this to line their own pockets, shareholder value was never a consideration and the overiding objective was to draw the entire process out as long as was possible to allow the RY Gravy train to roll on until every last penny was gone.
Alma, I am not interested in the companies response to yr ridiculous query as I am 100% certain Navitas have this matter in good order, if you want to run round in a blind panic- getting yr knickers in a twist over nothing, fine but if you continue trying to Scaremonger lesser informed holders on this board then I shall counter your Preposterous accusations.
Well said Auson, finally another voice of reason ππ!
Ovets; I will defend any unnecessary Scaremongering !
Alma's accusation that Navitas has forgotten and need reminding by posters is utterly incomprehensible and nothing more than Scaremongering !
And you think Navitas are unaware of this and need reminding by an lse poster ??? π€£ π π π€£
To suggest Navitas are unaware of losing the production license & 500 million barrels and need a reminder by your good self is Preposterous beyound human imagination !
I'm still laughing about Alma getting on her high horse yesterday trying to save Navitas's ass with her timely reminder ...I mean come on, be serious, as though GT needs Alma Cogan to remind him his accounts are overdue and that he's gonna lose the Sea Lion Production License & 500mbs of oil π .Its Preposterous!
Yr a Great sport though Alma π, I'll give you that and you provided some pure comedy gold yesterday with your ill-founded paniky, concerns on the most basic Business fundamental of filing accounts before deadlines but I'm 100% certain this is not Navitas's first Rodeo on the need to file accounts and that they are, without any shadow of doubt,100% aware of the need to file accounts, so rest assured, they do not require any lse posters to remind them when to file their accounts.
Like I said, GT will not give a Sh-ite about the UK or its legislation and I expect them to have already/or have the intention to have the licenses signed over to something more suitable for Navitas ( Outside the unhelpful & oil unfriendly UK),lots of companies have different assets under different umbrella companies in different countries.
Now I think this switch over is far more likely than the ludicrous accusation that they had simply 'forgotten' to file the accounts and are in danger of losing the production license and the 500million barrels and in need of a reminder from Good ole Alma π€£ π π
It's nice to have some light-hearted entertainment here whilst we await some real news so lets hear it for Alma π π Oh, btw Alma, Did you write to the company secretary and advise them when to file their accounts π π€£ π€£ Keep up the Good Work, Navitas would be lost without you π
Oh yes, I can see the Headline now...." LSE Poster & Part Time Sleuth, Alma Coglan, saves Navitas Petroleum from losing their 500mb Sea Lion Production license by her timely intervention in reminding the company that they 'must' file their accounts before the Deadline.
Navitas Chief Executive Officer, Gideon Tadmor, personally thanked Alma for her timely intervention.
Tadmor said " that Navitas were so busy with Shenandoah and raising Β£1Billion for Sea Lion that they'd totally forgot to file the accounts and that they also forgot about all the reminders they received from Companies House & their legal team that repeatly told us in no uncertain terms they would be struck off and lose the production license on Sea Lion if we did not submit their accounts by the given date".
Gideon said" It was a really close run thing and without Alma's timely intervention, I'm ashamed to admit we would've lost those licences & thus 500mb of oil.Tadmor said, it's easy done, anyone can forget such minute detail as losing a production license on 500mbs of oil".
"Yes, we had endless reminders but we've all got memories like seives here at Navitas but we aim to put this right and make sure it cannot happen again so Alma has kindly agreed to send us a timely reminder each time we need to file the accounts in future.
And to show their appreciation, Navitas have invited Alma to the Victory Bar Pub in Stanley this Saturday tea time for happy hour and her first 2 drinks will be free, however, Gideon apologised once again, for forgetting to include travel and he also forgot to procure a hotel for Alma oh and he forgot to order fresh barrels for the pub so the trips been suspended temporarily.
Asked about Alma's travel & accommodation mishap, Tadmor replied, ..."Alma? Who's Alma", ....Damn, He's only gone & forgot again.
One has to wonder how GT & his Elite Team can run a Multi-Billion dollar company like Navitas - when everyone at the company has got seives for memory and they cant even remember to file accounts inspite of all the reminders π€£ π π ...
π€£ π€£ Alma, stop please, with all due respect, your embarrassing yourself !
Rest assured, Gideon Tadmor knows exactly what he is doing, the man is borderline genuis and heads a Successful Multi-Billion dollar company with a competent team of specialists, who also know exactly what they're doing...so I say again, Gideon Tadmor does not need telling from Alma Coglan or any other LSE poster that his accounts are overdue in England and that if he doesn't file them he will be struck off a totally meaningless register . It's Preposterous to think this genuis of a man needs reminding by LSE posters of one of the most basic principles in business !!!
The SPs holding up, something regulars will know was never possible before, any buying volume was almost always sold into, so there is clearly demand for the shares,which should increase in line with the anticipated newsflow over the next 6months.
Will Sam update the market on his trip to FIs π€
Did he get FIGs signature on OM or the Tax ammendment π€
Are we near to hearing Nav have entered into an FPSO LOI π€
Could OM decision come sooner than anticipated (October) π€
How far away are Nav from securing SL Funding and will FID be Q4 24 as expected π€
Plenty for the discerning investor to muse over and all are expected before year end !
I don't think Mr Tadmor will need reminding from LSE posters that his Multi-Billion pound companies accounts are over due in England π.
He's almost certainly not interested in England or its system and more than happy to just let it lapse- having received no help whatsoever from the British Government in opening a Billion barrel basin in the Fls.