Member Info for unionjack1

The Bananas are on me if you are LTT!!

LTT, presumably it is a question of jurisdiction and according to Gov.uk -

“Laws and cultural differences”

The Falkland Islands is a British Overseas Territory and has its own laws.

Thanks Alma.

So if I understand correctly, if Rock were to multibag, as we hope, no matter how big the pot is, as long as the shares have been held for two years, the pot is are not subject to inheritance tax.

I’m hoping not to shuffle off my mortal coil just yet but this could be a great advantage IF, FID and OM come in.

Does anyone know if Rockhopper shares qualify for Business Relief in respect of Inheritance Tax please?

I’m optimistic about the company’s future more than my own, after 15 years holding :-)

Any info. Appreciated.

The big money is no doubt waiting until the award and FID are guaranteed whilst paying pi!!ocks to sow negativity to keep the price lower for their eventual entry.

A potential buyer could be doing the same but it’s a gamble and not without risk.

I read once that on average a share price rises only 70% to the sale, when a buyer steps in. So we need the price much higher at that point. Don’t know how accurate that is.

Apologies. I was close but hit the post. :-)

Thanks again Mogger.

It’s before the Treasury, so could it be Export Finance? Rob Butler, the MP raising the issue, could have a good knowledge of the situation as he was, very briefly, the Secretary of State for Foreign, Commonwealth, and Development Affairs.

He’s been at Murphy Oil for 17 and half years, and Vice President Offshore Development for 7 and a half years. Would he go to Navitas if Sealion wasn’t going ahead.?

From FIG record in 2013.

No appraisal drilling and consequently no development planning has yet been undertaken for the Liz gas or gas condensate discoveries in the North Falkland Basin. Liquids volumes in the condensate-bearing section of the filed may range from 10 million barrels in the most likely case to 77 million barrels in the best case according to Desire PLC.

The result went on to say -

“The well was not suspended for later testing as the well was not designed to test over pressured gas.

Due to increasing overpressure concerns the well did not reach the deepest play type in the pre-rift.”

Liz wasn’t exactly a duster, they found wet gas and dry gas at different levels as this extract form the result shows. I wonder if in view of the change in energy needs, Liz could now be an asset.

“ The initial log interpretation indicates that 17 metres of net hydrocarbon pay were encountered between 2961 and 3031 metres within a zone of over-pressured, predominantly sandstone, reservoir. A hydrocarbon sample and formation pressures were recovered from this interval. The initial analysis suggests that the hydrocarbon type is wet gas, but its precise characteristics will be confirmed through further analysis. There is no indication from log data or pressure data of a water-leg in this interval. Much work is now required to evaluate the reservoir quality, to determine the trapping mechanism and to assess the potential of this discovery.

Dry gas was also recovered from a deeper interval below 3,400 metres indicating that gas pay is present in generally poor quality reservoir but there is considerable uncertainty on the rock type and more work will be required to assess its reservoir potential. This gas is a separate accumulation from that above, in a different pressure regime. Again further work is required to assess the significance of this interval.”

Danny is back in California since 2017 reporting on tech. He has his own ‘Danny in the valley’ podcast which hopefully keeps him busy enough to keep his f**kin nose out.

Great article, which is long but gets even better. Thanks Rpoodle.

Well done Sam and Gideon. “I’m glad I’m not out of this over the weekend” :-)

On 20/4/22 I received a reply from Sam on the question of equity. In his defence, and in view of the speculation against him here, I don’t feel that it is breaking confidence to outline the reply.

He stated that , “It's not certain that we will raise more equity as we might have a good result on
Ombrina. Having said that, should we go ahead with an equity raise, we fully intend
to do so in a way which allows all existing shareholders to participate.”

Email him if you have any questions, he responded fairly quickly.

A great statement of commitment for world to see.

Maybe not when people are buying on news.

Could it be that this Canadian guy knows what is coming down the line for Rockhopper ie confirmation of Navitas commitment and signing , and inside info heads up on the OM arbitration, but he can’t act on it because it is,inside info.
However, knowing that any positive results for RKH ,regarding progress with Navitas or OM ,will result in a significant uplift, which in turn will drag up BOR and ARG with it, he can’t lose by investing in them, but not be accused of anything illegal.
He’s gone for BOR because they actually have something in Darwin, which acts as a little bit of a safety net and insurance, and helps to support a logical basis for speculation in the share in view of the current situation and the demand for gas.

As I understand it, before any dividend or distribution could be made by RKH on buyout, the £60million tax bill would have to be paid to FIG although this may change to some extent with the withdrawal of Harbour/PMO.

Whilst I know that we’re in the last chance saloon there a lot of buys this morning . My head and heart are arguing about what to do after 11 years and a lot of money invested. Head says sell and retrieve something , if only a fraction of the original investment. So who is hoovering up the sells?

UKEF . I appreciate that this ship has very likely sailed but I have not seen any confirmation of this. I really wish that COP26 was out of the way because the UK Gov are unlikely to announce any controversial support before this. I understand that they have stated no more investment support in foreign countries but I still have a nagging doubt that it is not completely written off.
I admit that I may be clutching at straws but is the UK Govt really abandoning the Falklands? Without providing support for the development of the oil asset, which would finance military protection for many years, this is how I see it.
Argentina has bullied and threatened both companies and individuals from investing in the Falklands, to prevent the development and recovery of its assets. I believe this is the real reason for Harbours exit. Is the UK govt. really surrendering to Argentina over this? Perhaps the issue needs more public and media attention, but after COP26.
I don’t understand why FIG have not made more of an issue of this ie one country actively seeking to interfere with another’s rights to exploit its own assets. It’s like a form of corporate terrorism.
Is there really nothing going on behind the scenes between FIG and UK govt?
Finally, the arbitration award. If I were on the panel I would be unhappy with the Italians seeking repeatedly to undermine my established and recognised authority, that they had previously agreed to, and so I would be inclined to maximise any award against them.
It’s really dark now, it must be nearly dawn, surely.

Yanbu,

You put our troubles with RKH into perspective. Some things are more valuable than money, no matter how much we have at risk.
I wish you all the best.