Rockhopper Exploration Share Discussion Threads

[hoper2] 08/4/2020 13:13

RKH does indeed have a lot of "discovered and appraised" oil and is hopeful of winning their court case against Italy. However, another way of looking at them is that RKH have no income, has only enough money to get through the next year or so and has struggled for years to find the money to drill Sea Lion. You win some you lose some - it's a punt and nothing more.

[schachmeister] 08/4/2020 12:25

Gentlemen,now is the time for action ! Opec are going to cut at least 10mln barrels and this will set the stage for the recovery and this virus is set to peak next week so now is time to buy ! We are where we are and no amount of moaning can change that,the only realistic course of action for existing shareholders looking to minimize losses and make profits is to buy now,whilst it's so cheap. You will not see these prices for long and we will all wish we'd bought more come June. PDYR

[gaffer73] 08/4/2020 12:24

And who would replace them?

[carroteater] 08/4/2020 12:21

Reminder Vote against Director re-election!!! In whatever share size you own, all add up. Highway robbers this lot. That's your money into their pockets.

[schachmeister] 08/4/2020 12:12

Good to see you back Cyan. All as well and good as can be expected in the middle of a market crash. Rockhopper are well positioned to survive the storm and have no debt and £20mln cash in the bank.For a company with a £13mln market premium, Rockhopper packs a powerful punch and offers some serious near term upside with OM, whilst SL will continue to progress again,once Premier have sorted out their medium term finances(which was the case even before the crash) and the oil price recovers,which it will over the next 3 months. Can any of the doomongers show me another £13mln oily with 150mln of discovered and appraised oil ? The answer is No, but that's upside for later,the main focus now is on the OM case,which is due in the coming months and could, itself, be company making,being worth up to $150mln,this is very significant for a company with a £13mln premium and could result in a special dividend of up to 18p. Rockhopper's prospects and potential to multi-bag from current prices,have never looked better and those accumulating now will be handsomely rewarded by June !

[chinahere] 08/4/2020 11:26

Welcome back Cyan - yes that Malcy article is very positive - though he is rarely negative! I'm still here and waiting .....

[cyan] 08/4/2020 11:19

For a very optimistic spin ; read Malcy's blog; hTTps://www.malcysblog.com/2020/04/oil-price-rockhopper-dgo-sdx-wentworth/ last line of his piece; "With a continuation of the ongoing cost reduction programme and significant potential upside RKH is fighting fit."

[cyan] 08/4/2020 11:09

Good morning The Patriotic Irishman The claim that RKH is fully funded to first oil AND your claim that debt will be incurred are both right. The RNS states; "...the revised commercial arrangements ensures that Rockhopper is fully funded for all Sea Lion development costs (excluding licence fees, taxes and project wind down costs) from 1 January 2020 to project completion (estimated 9 - 12 months after first oil)." The agreement; if formalised; will see both NAVITAS and PMO pay RKH share of development costs via interest free loans. That large debt will be repaid from oil revenues. The risk of a dilution does not come from the new deal ; it comes from the excessive annual expenditure ; the small cash resource , and the time to first oil. I note that RKH has stated that our partners remain committed to SEALION. That sounds great but if the numbers do not dramatically improve we are left hanging ;bleeding cash ; with the end of the oil age on the horizon. We need POO to put on a considerable $20 plus to be about PMO's project "go" number and at best first oil could be reached in 4 years. The big issue is RKH's cash position and current annual expenditure. Without receiving a significant arbitration award RKH will not have enough cash to reach first oil. The recent RNS highlights our weak cash position and excessive annual expenditure. The RNS stated; "Continued management of G&A costs - US$5.3 million - reduced by circa 30% in the last 3 years -- Cash resources of US$21.9 million as at 1 April 2020 (unaudited) " The arbitration proceeds are vital to RKH so we can avoid a fund raise down the line. I note these lines which signals SEALION is going into effective hibernation for an unknown period; "....a process to reduce headcount levels and activity on the Sea Lion project has commenced with a smaller team continuing to progress mainly regulatory, fiscal and financial matters, pending a recovery in the external macro environment. A delay to the Final Investment Decision on the Sea Lion project is inevitable until the oil price and capital markets recover." Our partners have financial issues too which adds to the uncertainty. If NAVITAS walks I think SEALION development will never go ahead. In my opinion; at best ,there is a very long delay to first oil..

[cyan] 08/4/2020 10:59

You have to look hard to find out that the annual salary of the highest paid director was: £380,400 UP from the previous years £373,000 The "highest paid director" was also paid a bonus of £76,000 Unbelievable. The "bonus" was lower than the previous years £93,000 Total remuneration package value being £524,000 down from the previous years £533,000 These numbers are unacceptable. What has anyone done to deserve a £76 K bonus?. Total executive bonuses totalled £178,000 I am disgusted.

[the patriotic irishman] 08/4/2020 08:48

but Shach, rocky are NOT fully funded until production, they are merely funded for the NON DEBT part (ie engineering, admin, etc) which means they still have to pay their fair % share of the est $1.8 billion CAPEX and it will be via DEBT ''Under the Heads of Terms, Rockhopper's costs for the Phase 1 development (not met by external debt) are to be funded by Premier and Navitas from 1 January 2020 to Phase 1 Project Completion (estimated to occur 9-12 months after first oil)'' and we all know DEBT = DILUTION like I said more of the same SL copy paste waffle and pish from SAM with the only change being they are actually scaling DOWN SL activities due to current climate which means further DELAYS the only question remaining now is, IF they don't get a favourable OM payment before the end of the year how are they going to pay the wages and bills to survive as since divesting their only revenue generating asset (Egypt) they have nothing else of any value left to sell unless of course they have to sell another % of the Falklands acreage to keep the dream alive and just like the debt, selling off another bit of FI acreage to keep afloat is further DILUTION one other thing going on in the background that you may not be aware of is that the major service providers are slashing headcount and reigning in their spend in an effort to conserve cash due to the industry downturn, ergo the previously agreed estimated $400 million of 'we will provide equipment and service now but you can pay us later once in production' funding is seriously under threat trust me Rockhopper are not exactly in a position of strength and IF OM doesn't come good it could be goodnight Vienna without a chunky working (keep the lights on) capital (excluding SL CAPEX) fund raise simples

[renniks2016] 08/4/2020 08:27

Why is this going up on the back of that RNS??? could be bust in a year!!

[stocktastic] 08/4/2020 07:53

FID delayed SL at serious risk OM not for months "While engagement with senior debt providers has been constructive, feedback received highlights the need for Premier to complete its announced corporate actions and extension of its credit facilities to provide certainty over its medium- to long-term funding position before financial guarantees for the project can be secured. Recovery of the oil price is clearly also critical to securing such funding."

[nigoil] 08/4/2020 06:36

It's called taking profit Penny shagmeister simples!..... LOL...... :-)

[schachmeister] 07/4/2020 22:59

And what of the premonition Walter ? Aren't you worried they will kick in again the day before OM & SL funding news and force you to sell ? Or do these premontions only come the day before catastrophic news ? Lol lol lol...I'm loving this me,shows just how pathetic & silly you really are...lol lol lol

[schachmeister] 07/4/2020 22:55

Every time you post it becomes more confusing Walter...So the multi-millionaire,who must have a net worth of at least £50million to comfortably afford spending endless millions on penny dog shares - now needs to sell 3million rkh on the next decent rise to get back on track..It doesn't make sense Walter ?? If you can afford to spend multiple millions on penny dog shares them you surely have enough overall wealth to be already on track,regardless of the fortunes of yr reckless gambles in Arg,Panr,88& Rkh ? Surely these are little more than modest fun punts for a man of your great wealth Walter or are you balls deep in debt on them?

[nigoil] 07/4/2020 22:36

If you bothered to read my past posts Penny, you would have read that I have traded 88E since Winx and had an average of. 43p. I will be selling the 3 million Rkh I have purchased recently on the next big move up to get me back on track, holding just 5 million to first oil, simples!.... :-)

[nigoil] 07/4/2020 20:25

I see your girlfriend has had to help you Penny, running out of ideas aren't we? Simples!...........PMSL...........;-)................Hindsight profit? I've got over 8 million Rkh shares @ an average of circa 11p, at the moment I'm down just over 320k, so where's the hindsight knickerstocktastic? Once Rkh passes 11p soooooooooooooon, I'll be up 80k per 1p, simples!!!!!!!!!!!!!

[schachmeister] 07/4/2020 20:03

How dare you speak of our resident Guru with such slanderous disrespect Stocktastic.We should be honoured that such a prolific & legendary trader is willing to share with us some of his tactical & strategic insights-so that we plebs may better grasp how the mind of a great trading genius operates.

[stocktastic] 07/4/2020 19:38

Noboil claims big inside info that never comes and always makes a fantasy profit in hindsight. Compulsive liar

[nigoil] 07/4/2020 19:17

It's a shame you to don't read my posts properly Penny shagmeister, but then it's to be expected from a boiler room girl, you only have one agenda and that's your own, very transparent, simples!.....PMSL........;-)............P.S...........Only another 4p to go and I'm brake even in Rkh, not bad hey Penny? Every penny after that I will be 80K in profit...................NICE!!!!!!!

[schachmeister] 07/4/2020 19:12

It's only natural that not only has Walter now 30mln 88e ahares, but he's actually made profits on today's 70% fall.Walter is indeed very special,we can only marvel at how Walter snaps up 30 mln shares at no cost and makes a killing selling on today's 70/89% fall. Thanks for sharing your knowledge & wisdom with us Walter,I'm sure I speak for everyone when I say it's genuinely much appreciated. It's always special observing a self-proclaimed guru plying his trade,sure,we can never achieve a tiny fraction of Walter's success but at least we can aspire to be better than we are from all the priceless nuggets of information,albeit sometimes inside info,twitches & swallows,and all that we gratefully receive from you.

[nigoil] 07/4/2020 17:58

You are clueless Penny shagmeister, nice to see you now acknowledge I had 22 million 88e shares at least until yesterday afternoon that is, LOL! Today I have 30 million 88e shares at no cost and the profits left over have gone into Pmo $ Rkh, simples!.................;-)