Rockrose Energy Share Discussion Threads

[fardels bear] 25/1/2019 11:55

I don't think that the I3E saga has played out yet. They are bumbling about talking about $140m of debt to develop the field and prospects. I don't think they'll get it in current markets and I don't think that they would be looking for it if they were at all confident of securing a JV. That's why I sold out of I3E. Of course the fanboys thought I wanted to buy in lower. I didn't I wanted to buy in higher when the ink was dry on whatever deal they came up with. Of course, AA might want to do a deal with them but if it's a deal of last resort I think it'll be a better deal for RRE than for I3E. I could be wrong of course. Probably am.

[duckdown] 25/1/2019 11:49

Well it sounds from a reliable poster on the I3E thread like the Repsol corporate restructuring is complete so I'd think they will be favourites for the JV with I3E now.

Bit of a shame as I hold both RRE and I3E and would have liked to see them come to an agreement.

You never know though.

[basem1] 24/1/2019 16:36

Back to 605, a triple level of support, hoping for a bounce tomorrow.,

[fardels bear] 23/1/2019 10:14

Harsh but fair, eh, Karen?

[dunderheed] 23/1/2019 10:13

Yes but to be honest I'd only leave 5 to 10 % full carry max. (Which will not be in i3e range I'd have thought) and I think its still way too technically risky imho.

[fardels bear] 23/1/2019 10:06

I think it would be good for both. I'm long here and no position I3E..

[duckdown] 23/1/2019 10:05

Agreed FB, it's hard to imagine they wouldn't be.

I hope RRE put a bid forward.

[fardels bear] 23/1/2019 10:04

That would seem to fit.. Neil's no longer in charge though. He's only an NED now... So, maybe they are still trying?

Just added another 1000 for fun.

[duckdown] 23/1/2019 10:02

I think if they had been negotiating with RRE it would have been much quicker and easier.

I have a feeling RRE were in talks with I3E before Repsol Sinopec showed their hand, and Neill Carson fell out with Andrew Austin by selecting Repsol Sinopec.

Hopefully they can resolve their differences - it would make sense for all if they can.

[dunderheed] 23/1/2019 09:20

Methinks that as well or if not the case and, they had a look and weren't interested, I'd start to be arsking "why not guv"?!

[fardels bear] 23/1/2019 08:57

Methinks they only hinted at Repsol so that people wouldn't think they couldn't negotiate a simple debt for equity swap with another small player like RRE.

[dunderheed] 23/1/2019 08:08

Yes re 531 and 532.
Wonder why they (Repsol) didn't bite then?
Certainly not material for them and certainly further undervalues i3e respective assets imho, bearing in mind they (Repsol) are in the vicinity as well.

[fardels bear] 22/1/2019 22:16

So that leaves Sir Andrew and his shining Knights, or, some motley and likely greedy investment company to step up and provide $140m of junior and senior debt with Liberator as collateral. Isn't Liberator slated as 11mmbo recoverable low case? $140m seems a tad ambitious to me unless the lender is interested in equity.

[duckdown] 22/1/2019 20:01

Because the I3E directors have hinted at it a few times. I think they mentioned they were approached when they were discussing offtake terms for the Bleo Holm, and they also mentioned that it was a global company undergoing corporate restructuring.

[dunderheed] 22/1/2019 19:28

Dd why do you think it was Repsol out of interest?

[duckdown] 22/1/2019 18:59

As a holder of both RRE & I3E, I would love to see RRE farm into Liberator and Serenity. There are so many synergies for both companies, they'd be mad not to work together.

I think I3E's proposed farm out partner last year was Repsol Sinopec, and it would make sense for them to be involved too, but we shall see.

[basem1] 22/1/2019 16:43

Come on Andrew, take it private. With the amount I have 8 pounds will do me. We will have the mkt cap as cash by mid April.

[basem1] 22/1/2019 14:13

Bit bored today chaps and my largest 3 holdings are all down, down, down.

[basem1] 22/1/2019 14:04

The next RNS could be " after decommissioning costs we have more cash at hand than our entire market cap " Another 2-3 months would just about do it.

[fardels bear] 22/1/2019 11:24

Ay, there's the rub. I3E value their assets very highly.. Hence no deal..

[dunderheed] 22/1/2019 11:09

Here's hoping but from my perspective any farm in will have to be very very cheap as this asset is a long long way from the kind of figures i3e bandy about and consequently more risky than their current portfolio, imho.

[fardels bear] 22/1/2019 11:04

Yes, I see AA as the organ grinder if I can use that analogy..

[dunderheed] 22/1/2019 10:36

Ah ok yes then came here?
Wouldn't it be ironic if you ended up back in i3e vicariously lol!
Yes this is my issue with i3e very big figures but means f all until proved up.