Member Info for Yeast-is-Rising

Nice to read your informative message LTT, instead of the constant repetitive whining of the BB groomies and their obvious hidden agenda. It would indeed be very hard for HBR to explain their shareholder where the majority of their 2c reserves has gone if they do not go ahead. Not to mention the 600 mln investment write off in the development of Sea Lion. Let alone why they bought PMO in the first place. The HBR results on the 23rd of September might shed some light on the matter. It will most likely tell us what they want to do with Navitas. Navitas out, Neptune in?

Yeast

Though I wonder if the Italian government could just give ENI the permits to drill, without setting a precedent that would lead to more problems with other companies who have suffered from the implications of Italy's 2019 “Sustainable Energy Bill”.

From the RKH website on Monte Grosso: In February 2019, the Italian government introduced certain further changes to oil and gas law through the “Sustainable Energy Bill”. These changes include, amongst other things, a temporary suspension on exploration activities including the drilling of exploration wells.

And come to think of it, I think that RKH would want producing assets instead of Monte Grosso that has a 23% chance of success. I know I would ;-)

Yeast-is-Rising

That could be a very elegant solution indeed, BondSan and does explain the delay of the Tribunal. The last few times the tribunal provided an update about the timeline, only a couple of days after they were supposed to communicate. If they needed more time to finish the report you would think they would say so to the parties involved. Even if they or the Italians were on holiday, it would merit some sort of update.

To me it seems that the Italians are trying to come to a last minute settlement to avoid a ruling that sets a precedent for other cases that are pending. In that case it is not strange that there is no communication from the tribunal or either party. There are similar cases (73 licenses that are affected) that might not be big enough for a litigation fund to spend money on. But if the outcome is positive for Rockhopper, it should not be too difficult for these companies to win their cases and receive money for damages and lost profit.

And a settlement would be a very positive outcome for the tribunal too. A huge award to RKH would generate a lot of negative publicity and would surely undermine the position of the tribunal.

Yeast-is-Rising

.....The board will try and tell you otherwise but they have lied to us before and seemingly have zero integrity so why would now be any different?...

I would be very careful making these kind of statements, Godders. Since you are stating this as a "fact", could you back this up with some real examples where the board has lied to us?

Yeast

Et tu Ovets?

I am sure we'll manage without your "thorough" research and honest interpretations, Cyan2. Priceless :-))

Yeast-is-Rising

You are rigth Buzzthomas, HBR is well funded and PMO and RKH have already invested 600+ million in the pre-development which makes it a highly attractive project even at a $50 oil price. Plus there is massive upside in phase 2 and in developping Isobel/Elaine. Much to look forward to.

Sea Lion ticks all the boxes as they were stated in the presentation of HBR. Zama doesn't because their interest is too small and they will have no controll over that asset. Let alone the political and economical environment they have to do business in.

But that doesn't keep the boiler room boys from spouting more lies about funding, Sea Lion, the BoD, Zama etc. All to put fear and uncertainty in the minds of genuine long term investors and scoop up more cheap shares. Interesting also that they are out now in force, just before the decission on Ombrina Mare.

I wouldn't be surprised to see a short spike in the SP after a postive OM award, after which they will dump the cheap shares they have bought these last months for a profit. And after the inevitable spike down in the price, they will be back in force to tell us how terrible this company is and that we should all sell, so they can scoop them up again. Sigh.

Yeast-is-Rising

Cyan2 you state: We are stuck with a new entity that has shown absolutely no interest in SL development. Is that a fact, Cyan2?

Because the latest facts that I read in the HBR rns of 23 June 2021 said the following: A thorough review of the Group's Sea Lion project in the Falkland Islands is currently underway ahead of a decision regarding the re-start of project activity.

A company that conducts a thorough review of a project wouldn't do that if they saw no merit in it, now would they.

So why don't you stick to the facts instead of instigating fear with your pseudo knowledge and fantasy research. I see no reason a genuine long term shareholder that wants the company to reach its full potential would act this way.

Yeast-is-Rising

Why is it Ralph2010 that you and your boiler room buddies keep bashing on about the "outrageous" salary of the BoD, when you perfectly know it is not any different than the average renumeration of other CEO's or CFO's of AIM companies?

And lowering the salaries has no effect what so ever on the Ombrina Mare award or a decission of HBR on the Sea Lion FID.

You are deliberatley trying to de-humanize Sam Moody and Stewart MacDonald by spouting lies and gross insults that I and many other genuine shareholders find quiet offensive. These are tactics from the lowest of the lowest and history has shown these are also very dangerous tactics. Shame on you, Ralph, Glenrothes and friends.

This is not the behaviour of a genuine shareholder and serves no purpose to the long term shareholders who would like to see the company go into production and reach its full potential. It is quite clear your objective is very different than that. Show some character man, crawl out from behind your aliases and try some adult reasoning and normal discussion.

"The Tribunal anticipates that it should be in a position to render its award* in the course of July.

The Tribunal will revert to the Parties towards the end of June to confirm this timeframe ."

*Note: under the International Centre for Settlement of Investment Disputes (ICSID) rules the Tribunal's decision is referred to as an "award."

And at this time the muppets start posting we have to sell all our shares after years of waiting. Really?

LONDON, June 22 (Reuters) - BP (BP.L) will continue producing hydrocarbons for decades to come and will benefit from rising oil prices even as it reduces output as part of its shift to low-carbon energy, Chief Executive Bernard Looney told Reuters on Tuesday.

The recent rally in crude prices, which climbed on Tuesday to a more than two-year high above $75 a barrel, is likely to continue, Looney said in an interview at the Reuters Events: Global Energy Transition conference.

"There's a very strong possibility that these prices will sustain over the coming years, and if they do, that's very good for our strategy."

Bodes well for the Sea Lion FID.

Malcy on Sea Lion:
There looks to be a decent drilling programme across the portfolio which in itself is a great geographical spread covering many of the world’s most exciting basins. On that note they say that at Sea Lion ‘ a thorough review is underway’ ahead of a decision regarding re-start of the project.

At $75 Brent the project must be hugely profitable and if one had to question anything about the Harbour portfolio it would be a lack of genuine growth, Sea Lion would do that in one go, after all at Premier it was always the place where mid-decade onwards growth would be satisfied.

Definitely looking forward to tomorrow's strategy outline of HBR. With production figures of 200,000 barrels a day and Brent at $75 dollars they're making lots of money. Financing their part of Sea Lion should be no problem. Let's see if they've done their due diligence already.
Yeast