Member Info for Tuggy

I think the market makers are now realising SeaLion and the Falklands as a whole might just happen. Something I have been banging on about for years is that the Brit Govt see this as a new North Sea, and protects our interests and helps pay for our outpost a crucial hub protecting areas around the South Pole , which are being looked at by all and sundry for all their mineral content.
Oil especially sweet oil is needed for the foreseeable future and if the oil price holds up this share is a no brainier.

It’s good to know I am not just speaking to myself, I would be interested to hear Ovets thoughts on the matter.

Premier and Harbour have to have the reverse takeover agreed Q1 and then if that goes smoothly announcement of sanctioning SL would be after negotiations with FIG on the tax regime and then further negotiations with RKH and Navitas re the breakdown of the deal. My personal choice would be another outside partner to invest in the whole territory, but the main immediate aim is to get Phase 1 of SeaLion off the ground. This will undoubtedly make Argos licence very valuable in the mid term and its share price will be reflected from day one of any uplifting news.
Harbour will want to get a move on especially the price of oil has gone to a more favourable price and American shale oil companies need to look to more outward investment.

Share price starting to rise on the back of Harbour Energy probable involvement in Rockhoppers SeaLion project.
It seems inevitable that they would not agree terms with Argos to own 100 % interest for a royalty payment on production and a small yearly payment to keep the company afloat for a twenty year period.
The uplift of the share price will come on that news, then drilling the first of four drills starting with Rhea.
Someone has been picking up 50000 daily for the last month , and the original 2010 investors are still in place.
Of course the most important thing is for FIG to agree news terms with Harbour, who see this as the only element of the Premier portfolio which is free of foreign governments and foreign companies in charge of production.
This is the eleventh year since listing , floating at 31 pence, so entering at the current share price is a no brainier, in my humble opinion.

Argos will find another partner on the same terms as Noble I suspect a cheap entry for 100% ownership little upfront money and only paying a royalty once in production.
Argos shares will not be diluted and gain in value due to the huge income for current shareholders.
I suspect Chrysour will either keep Navitas on board or go into partnership with another British company. Britain will need another source once the North Sea is totally on the wane.
Whether Rockhopper survive that is open to many if and buts.

Delayed to Sept 2021 is the crucial date, I forgot to mention in my earlier post.

RKH announce today Navitas still on board for delayed date of sanction of SeaLion due to the finalising of the PMO Chrysour reverse takeover earlier in year, perfectly plausible, I have a sneaking suspicion that 2021 will finally be positive news, which in turn allows Argos to find another Noble type partner who takes over PL001 and becomes a small player in the SeaLion project to share costs and ensure more exploration to extend the production period from just the current Phase 1 Sea Lion project.
The GB govt want alternative source of energy and it is being served up on a plate.

There is a distinct possibility of Navitas taking over control of the Argos acreage if the new regime want them out of the old agreement, your views welcomed.

At last some good news , Chrysaor have the resources to secure funding for Sea Lion.
Great news for Argos and Navitas.

Has anyone noticed this possible game changer, one of the largest oil companies in world who have interests in Israel and surrounding areas and of course have the capability of taking on the FI interests with Navitas taking a more crucial role.
I do not believe the Falkland oil will be a stranded asset , we need the quality oil for at least another thirty years, and all the pre production work has been done.

One of the biggest 133 billion market cap oil companies in the world, ........

Notice Noble Energy has been bought by CHEVRON oil., who have interests in Middle East , and Mediterranean and huge interests worldwide.
Once this COVID business is over , the Falklands will become of interest again as oil consumption is still be going up for the next 30 years.

Everything on hold at the moment, Navitas still their, who they partner is another matter.

Ovets has hit the nail on the head, something I have been saying for quite some time ,essentially someone big is waiting on the wings to pick this up for tuppence, from PMO who are hamstrung in so many departments and Rockhopper who are running out of money , time and options.
Not withstanding I suspect Navitas will remain in the frame in some form , as they can see the opportunity and will not want to lose this potential asset and act as a joint venture deal which is nine times out of ten how oil companies do business these days.
FIG will ask PMO shortly how long if oil goes to say 45 dollars will they suspend sanctioning.
They have so many plates spinning at the moment they might have to relinquish their jewel in the crown.

North Sea is on its last legs , this a completely new source of energy, why to think the Israeli ( Navitas ) are prepared to farm in with Premier. Premier still see this as their long term strategy and will resuscitate when POO is back in the late forties and purchase of the Shell fields , Zama is sold and the fund shorting the stock become redundant .

Premier announced this morning a very sensible decision in light of the current turmoil and has a encouraging footnote notable the Navitas comment.
Premier have announced the decision to suspend Sea Lion Phase 1 to minimise ongoing spend in light of the current market conditions.
SL is complete from a technical aspect and all of the work which has been done to date is being fully documented, such that the project can be reactivated once the macroeconomic outlook improves.
A reduced team will continue to progress government, commercial and financing matters including the transaction documentation with Navitas who remain committed to farming in farming in for a 30 per cent interest in the SL licences.
As my previous post in March said , the GB govt are not going to see this asset go to waste and also allow the current holders of said licences remain in place.
Just a little longer wait, but we are used to setbacks, however I prefer decisions made now rather than the normal ramping or dreaming comments that are numerable on Rockhopper posts.

Even he has not commented on the dire circumstances of the last few days, however not his fault virus and oil price , but to stay silent.

Thanks Ralph for your normal well informed response , take your anger out on RKH , as I know you post there with the same venom , although Sam has taken fortunes out of the company the virus and POO has disrupted any sanctioning of SeaLion for the time being , but as I have just posted, the British Govt are not going to let a potential North Sea oil field discovery remain in the ground.

No I am not a member of the board but the very earliest investor in Argos and I retain just under 1% of the company having sold a quarter of my holdings in 2010 and bought and sold small amounts over the years. That is why I know that our BOD are beyond reproach and not filling their boots as is Sam at RKH.
I posted four months ago the possibility of PMO and RKH failure in funding Sea Loin , that I am afraid might be a reality sooner rather than later, however they have a asset which is worth something, so RKH shareholders will hopefully get some money back .
As mentioned also this opens the whole of the Sea Lion discovery up for grabs and I suspect Navitas will try and remain in the reckoning but with a robust company with ability to fund production.
Argos will then find it far easier to find a partner to drill Rhea and extend the discovery further , improve viability due to increase volumes and its location a perfect fit to the existing SL preparations for production.

You are completely wrong , full stop.