Member Info for whackford

The ARA for 2024 was published this day last year, so maybe we are due any day now.

".......would be well advised to use the price surge to sell down. Sell. MR"

I can't see the stated "news" on the Navitas website. Was it Tuesday 21 October 2025?

Thanks.

It would be helpful to PIs if Sam could give a fairly precise indication of the likely entitlement ratio. We know the maximum open offer shares that could be issued. We are uncertain as to the number of qualifying shares (according to some on this forum).

An "advance warning" from RKH would help PIs plan cash requirement.

Have just issued a new note on RKH. But since it's behind a paywall I cannot access.

I always find this irritating - all these brokers' notes should be put on the RKH website for general access.

Probably a temporary setback to the RKH sp.

FIH is motoring, so some expect activity in the FI before long. Picks and shovels!

Thanks for taking the trouble JPDM. I particularly like the comparison with BOR's market cap. Of course BOR does have proven condensate but it's in an out of the way location and in deep water, whereas Pl001 has yet to bring a discovery.

Gerard Walsh is highly experienced and has, in my view, spread the little jam he has in an effective way across Guyana and SA. I still think there is a good chance that these licences will deliver positive results eventually but it all takes time. I think it's all a case of being patient.

It's a pity they don't hold the AGM in London. In Derek Williams' time I seem to recall attending it at the Reform Club.

Best wishes.

Interesting to hear your estimates JPDM.

Can you share any info to back up your figures - not that I doubt what you say.

If they strike in Guyana or SA that would be a big plus to the sp. I suspect any PL001 drilling is a long way off so don't expect much influence from the FI.

The main problem for the sp is the fact that most of the value of WTE is vested in the two private companies.

Have been involved with this since the Derek Williams days.

Thanks Blue Defender.

Heard nothing from Barclays so I have used their emailing system to cast my vote. Pity they don't have a slick voting system like Interactive.

From today's Telegraph. Fortunately FI not mentioned.

"Miliband urged to block Israeli-owned company from North Sea drilling"

Campaigners claim profits from UK oil fields will fuel ‘genocide’ in Gaza

Ed Miliband has been urged to block an Israeli-controlled company from drilling two of the largest remaining North Sea oil fields.

Campaigners claim that Ithaca Energy’s profits will fuel “genocide” in Gaza.

Ithaca, already one of the UK’s largest offshore operators, is controlled by Israel’s Delek Group, which has been flagged by the UN for operating in illegally occupied Palestinian territories.

Delek is also understood to provide fuel to the Israeli Defence Force.

Ithaca is seeking a new licence from the Department for Energy Security and Net Zero to drill the Rosebank oil field, 60 miles west of Shetland. It has also just been given an 18-month extension to a separate licence for the similarly large Cambo oil field.

Etc.

However you look at it, it will be years before there's any drilling on PL001.

I can see no reason for the sudden price spike since the last company update was early June.

Those looking for Falklands exposure would be better off with RKH - almost certain FID for the proven Sea Lion oil field later this year. Maybe when the placing/open offer (at 53p) take place a good buying opportunity will be presented since 211m new RKH shares to be issued (about a third of present shares in issue).

The Westmount exposure to Falklands licence PL1 is not great and in any case there's no proven oil and any drilling and development a long way off.

The main area of interest is still Guyana and South Africa. There may be some drilling there this year.

So in conclusion still very risky but probably good potential in Guyana and Africa. WTE's Annual Report to 13 June 2024 gives chapter and verse on the licences and is a fine piece of work by the chairman.

There was an update 10th June.

Last year annual results to 30 June were published November 18th. So unless something unexpected happens not until November.

Thanks JF92

What is the reason for this rise?

The last WTE update was 10 June and was not especially unusual.

Granted, RKH seem to be making good progress - is that what the rise is about - or something else?

Would be interested to hear people's views.

Since they say shareholders will be looked after would think open offer with fixed % for shareholders and then an option to apply for more.

Bring it on.

Paul - PMO never went ahead with Sea Lion because they were greatly in debt by developing two NS wells almost simultaneously and the first well performed poorly coupled with a low oil price. That folly is what Navitas will avoid by waiting to see that Shenandoah is performing well before going ahead with Sea Lion.

The conclusion for PMO was several years of fighting off creditors and finally succumbing to a bid from Harbour which practically wiped out PMO shareholders. A good company was wrecked by over-zealous (some would say incompetent) management.

Simon, have you got any more news from a reliable source (Munro/board/Fi contacts etc.)?

Just got subs in English using Auto translate I think it was.

Sapcehoppa. Thanks for link to verbal presentation but I can only see subtitles in Hebrew.

Can someone explain how to get subtitles in English - I can see no method of doing it.

Thanks.