Member Info for wraith

Thanks for sharing, SpaceHoppa.

BW

When looking at the Directors percentage increases, resulting from the Directors' participation ( https://www.londonstockexchange.com/news-article/RKH/results-of-placing-and-subscription/15497744 ), along with the oversubscribed placing ( https://www.londonstockexchange.com/news-article/RKH/proposed-capital-raise/15497473 ),....read that as very positive, myself.

BW

The below extract from RNS dated 20 June 2022, lead to my strategy, as outlined in my previous posts;-

Extract,
"(ii) in respect of the resolution relating to the granting of authority to Directors to disapply pre-emption rights, a special resolution which, to be passed, will require the support of a majority of not less than 75 per cent. of the total voting rights of Shareholders who (being entitled to do so) vote on such resolution at the 2022 Annual General Meeting. The Open Offer is conditional, inter alia, on the passing of the Resolutions."
Source: https://www.londonstockexchange.com/news-article/RKH/open-offer-timetable/15501886

BW

As there is no certainty, that the Open Offer will happen,....Monday, I increased our RKH shareholdings (by 19% approx), giving certainty, of the Excess shares that I wanted, to help safeguard against dilution,.....I applied for our full entitlement of Open Offer shares today (I did not apply, for any, Excess Open Offer shares),.....the Monday purchase, did not have the Open Offer shares attached,....had to adjust my calculations,......once I have exercised all of our warrants, by my calculations, I will have increased our RKH shareholdings, by 37.55% approx.

Have a good weekend, all here.

BW

My understanding is, RKH shares held on the 15 June 2022 (Open Offer Record Date 15 June 2022), are entitled to participate in the open offer,....on RKH shareholdings, held on the Record Date, the Open Offer ratio is 1 share for every 8 shares held s/p@7p & 1 share for every 16 shares held (warrants, which can be exercised, at a latter date) s/p@9p.

BW

I originally bought back into RKH, for the arbitration result,......I do not like being diluted, this close to the arbitration result, but it's a sensible insurance strategy (IMO),......to mitigate the dilutive effect, on our existing RKH shareholdings, yesterday I increased our existing RKH shareholdings, by 19% approx,.....if that additional 19% come with the Open Offer attached & later I covert all of our available warrants s/p@9p, by my calculations, at that stage, I will have increased our RKH shareholdings by 41.09% approx.

BW

Taking a cautious approach, raising before arbitration result is known, is I agree, a prudent move,.....the open offer, gives us existing shareholders, the opportunity to participate, (I will be phoning, our stockbroker corporate actions department, next week).

I see the directors level of participation, in the Fund raise, as positive.

BW

We do not want, our RKH shareholdings, diluted by a placing, that we could not participate in,.....especially this close, to the arbitration result,.....in our case, we could participate (& would) in an open offer or rights issue, given the chance, should RKH need to raise funds, before the arbitration result.

BW

Just had a look ( https://www.europaoil.com/wp-content/uploads/2022/06/220609_EOG-The-full-package.pdf ), PeakyBlinder2,.....very encouraging, looking forward to the drill.

BW

With the oil price outlook, I'm not surprised that the Congo, has welcomed increased production,.....when listening to the Jamie Dimon interview ( https://youtu.be/MjmfUHeafDk ), oil/gas/coal are mentioned, from 2:49 into interview,....a possible oil price, of US$175 a barrel, is mentioned down the road.

BW

Thanks for posting links, Fakevenues:
Tilapia oilfield

https://eiti.org/sites/default/files/attachments/itie_congo_2019_version_finale.pdf (page 216).

https://energycapitalpower.com/biggest-oil-producer-in-africa-in-2022/
Extract
"REPUBLIC OF THE CONGO: 275,000 bpd

The Congo expects production to increase steadily as new fields are brought online. Following the development of the country’s first deepwater field, Moho-Bilondo, Congo has welcomed increased production and renewed interest in producing fields. In addition, Zenith Energy secured a 25-year license to continue operating the Tilapia oilfield in 2021, and as exploration ramps up country-wide, production outlook is positive."

As an AAOG shareholder, as well as being a ZEN shareholder,.....from memory, the AAOG target, was up to 5,000 bopd, from each Denjo horizon well, with about eight Denjo horizon wells, being the targeted development of the Tilapia oilfield,....looking forward, to the development, of the Tilapia oilfield,....there is also a deeper horizon, below the Denjo horizon.

BW

You're welcome MrBond007.

BW

Agree bamb,.....that's what we are doing ("Sit and wait for the farm in RNS"),......I'm encouraged, by the Venus 1-X Discovery, & Peter Hill comments:

Extract

Peter Hill, Global Petroleum's CEO, commented:



"We would like to congratulate TotalEnergies and its partners on the drilling of the successful Venus 1-X well. Given the apparent scale of the Venus discovery outlined in TotalEnergies' announcement, following closely on Shell's Graff-1 success, there can be little doubt that we are witnessing the birth of a major new petroleum province, following these long-awaited finds of light oil offshore Namibia.



From Global's perspective, we are highly encouraged by the apparent technical similarities between both the Venus and Graff discoveries and the prospectivity in our own licence, and we believe that we are well-positioned to benefit from what the Company expects to be a very strong boost to both investor and industry confidence in relation to Namibian offshore exploration generally."
Source: https://www.londonstockexchange.com/news-article/GBP/namibia-update-venus-1-x-discovery/15342311

BW

I was listening to this Jamie Dimon interview ( https://youtu.be/MjmfUHeafDk )earlier,......he mentions Oil/Gas, from 2:49 into interview,.....as Oil/Gas price rises (US$175 a barrel mentioned, down the road), the poor countries will use more coal,....wake up call, for the greens, hopefully,....we will always hold our EOG shareholdings, for Corrib,....good to have the drill, looking forward to the result,....Wressle, also very good.

BW

Found this Jamie Dimon interview ( https://youtu.be/MjmfUHeafDk ) interesting , from 2:49 into interview, he mentions oil/gas,....also, the effect of high oil prices, on creating increased coal usage,....a wake up call, for the greens that have demonized Oil, one hopes,......our hands very sticky, all of our BOR shareholdings, held in two ISA's & that's where they will be staying, indefinitely.

BW

Been thinking the same thing (thread heading) myself, Sharebel.

BW

Trinidad,....PRD cornering the CO2 market in Trinidad, is what first got me interested in PRD,(at that time, there were 100,000,000 shares in issue, with a Market Cap of £3m approx, from memory),....can't remember the projected figures per barrel, but do remember they looked very good,.....the latest figures I have seen, are in RNS dated 20 January 2021:

Extract
"Commercial considerations

· Injected CO2 volumes for the Pilot CO2 EOR, the key metric for minimising operating costs, are currently at the lower end of desktop estimates made prior to the commencement of operations.

· Combined with increased oil prices, changes to SPPT and early confirmation of enhanced production profiles potentially in line with the upper end of pre-Pilot CO2 EOR forecasts, enhanced near-term operating profitability is now considered to be achievable, subject to efficient operational and regulatory procedures based on the learning curve established during Pilot CO2 EOR.

· At WTI oil price of US$50/brl, projected EBITDA net-backs per barrel of oil for the P50 and P10 pre-Pilot CO2 EOR production profiles at plateau production are estimated to be in the range $15 - 25 per barrel. There are no new capital investment costs required."
Source: https://www.londonstockexchange.com/news-article/PRD/pilot-co2-eor-trinidad-results-operations-update/14833084

Potentially, a very good Cash Flow generator, (IMO).

BW

Agree rebel100,.....once you have your seed capital back, you are free to sell at any price.

Been waiting for the dust to settle, myself.

BW

Hi sabyam, thanks,....found link ( https://rockhopperexploration.co.uk/wp-content/uploads/2022/06/2022-RKH-NofM-pp6-01FINAL-SINGLE-PAGES.pdf ),.....dilution, hope we get that arbitration result soon.

BW

Caught your post on the other board, SevenDragons,.....Monday should be interesting there,....positioned for either positive or negative result there myself,.....with the Top Seal looking good there & the way the COS figures are calculated, I'm leaning towards a positive result there, hopefully, Monday morning.

BW