Rockhopper Exploration ehemals FALKLAND OIL & GAS +++ 270% mit Öl (Seite 18)
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Rockhopper Exploration ready to rock and roll in the Falklands as US$400mln funding talks near completion
08:06 18 May 2018
Finally, the company and its partner Premier Oil appears to be gaining some traction for the Sea Lion field, host to an estimated 517mln barrels of oil
Rockhopper Exploration PLC (LON:RKH) said it is close to kicking off the first phase of development of the Sea Lion Field in the northern waters of the Falkland Islands.
At the company's annual meeting later investors will hear that it and partner Premier Oil PLC (LON:PMO), which holds 60% of the offshore acreage, are close to selecting a main contractor to carry out the work.
Needed first is US$400mln of vendor funding with negotiations on this key part of the process "near completion".
Comprehensive engagement with banks
"Following a comprehensive commercial bank market engagement process, with a number of banks expressing a desire to support the project, a pathfinder bank will be appointed imminently to assist with the arrangement of senior debt facilities for the project," chairman David McManus will tell the meeting.
His words echo those of Premier on Wednesday, which said it expects to appoint a pathfinder bank "shortly" to assist with the funding process.
Premier's financial distress, which saw it rack up huge debts related to the Catcher Field in the North Sea, has been the major drag on development of the asset, which was originally to have delivered first oil last year.
Back from the abyss
Premier, having battled back from the abyss, is now keen to exploit an asset that's host to an estimated 517mln barrels of crude.
With the Brent price now hovering around US$80 a barrel, after a years of sustained weakness, Sea Lion has never made more economic sense, analysts said.
Total costs are put at US$1.5bn, so the current round of financing is merely a start to the process.
Late last year, a report in the Financial Times suggested Premier is negotiating with the UK government to secure an export finance deal that would provide US$800mln of the total.
Greater Mediterrean also in focus
Rockhopper, meanwhile, owns assets in the greater Mediterranean area and is currently funding a four-well drilling campaign in Egypt, which should boost production.
A hearing involving the Italian government regarding the Ombrina Mare Field, in the shallow waters of the Adriatic, is scheduled for February 2019 with the outcome expected by the middle of next year.
The company is seeking significant damages from the authorities following the Ministry of Economic Development's decision not to award the company a production concession.
Chairman McManus said: "Rockhopper believes it has strong prospects of recovering very significant monetary damages - on the basis of lost profits - as a result of the Republic of Italy's breaches of the Energy Charter Treaty.
All costs associated with the arbitration are being met on a no-win-no-fee basis by a specialist arbitration funder.
Quelle: http://www.proactiveinvestors.co.uk/companies/news/197261/ro…
leicht ergänzende Infos hier:
http://en.mercopress.com/2018/05/19/a-transformational-year-…
08:06 18 May 2018
Finally, the company and its partner Premier Oil appears to be gaining some traction for the Sea Lion field, host to an estimated 517mln barrels of oil
Rockhopper Exploration PLC (LON:RKH) said it is close to kicking off the first phase of development of the Sea Lion Field in the northern waters of the Falkland Islands.
At the company's annual meeting later investors will hear that it and partner Premier Oil PLC (LON:PMO), which holds 60% of the offshore acreage, are close to selecting a main contractor to carry out the work.
Needed first is US$400mln of vendor funding with negotiations on this key part of the process "near completion".
Comprehensive engagement with banks
"Following a comprehensive commercial bank market engagement process, with a number of banks expressing a desire to support the project, a pathfinder bank will be appointed imminently to assist with the arrangement of senior debt facilities for the project," chairman David McManus will tell the meeting.
His words echo those of Premier on Wednesday, which said it expects to appoint a pathfinder bank "shortly" to assist with the funding process.
Premier's financial distress, which saw it rack up huge debts related to the Catcher Field in the North Sea, has been the major drag on development of the asset, which was originally to have delivered first oil last year.
Back from the abyss
Premier, having battled back from the abyss, is now keen to exploit an asset that's host to an estimated 517mln barrels of crude.
With the Brent price now hovering around US$80 a barrel, after a years of sustained weakness, Sea Lion has never made more economic sense, analysts said.
Total costs are put at US$1.5bn, so the current round of financing is merely a start to the process.
Late last year, a report in the Financial Times suggested Premier is negotiating with the UK government to secure an export finance deal that would provide US$800mln of the total.
Greater Mediterrean also in focus
Rockhopper, meanwhile, owns assets in the greater Mediterranean area and is currently funding a four-well drilling campaign in Egypt, which should boost production.
A hearing involving the Italian government regarding the Ombrina Mare Field, in the shallow waters of the Adriatic, is scheduled for February 2019 with the outcome expected by the middle of next year.
The company is seeking significant damages from the authorities following the Ministry of Economic Development's decision not to award the company a production concession.
Chairman McManus said: "Rockhopper believes it has strong prospects of recovering very significant monetary damages - on the basis of lost profits - as a result of the Republic of Italy's breaches of the Energy Charter Treaty.
All costs associated with the arbitration are being met on a no-win-no-fee basis by a specialist arbitration funder.
Quelle: http://www.proactiveinvestors.co.uk/companies/news/197261/ro…
leicht ergänzende Infos hier:
http://en.mercopress.com/2018/05/19/a-transformational-year-…
Antwort auf Beitrag Nr.: 57.750.121 von honigbaer am 13.05.18 19:29:47Du scheinst richtig zu liegen
:
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and
production company with key interests in the North Falkland Basin and the
Greater Mediterranean region, will hold its Annual General Meeting ("AGM") in
London later today.
David McManus, Chairman of Rockhopper, will make the following statement at
the AGM:
"Over the course of 2017, Rockhopper has continued to balance the progression
of its world-class Sea Lion project in the North Falkland Basin with building
a material production base in the Greater Mediterranean, and with an ongoing
focus on cost control.
"2018 has the potential to be transformational with all efforts focused on
securing the funding required to sanction the Sea Lion project and move into
the development phase.
"The selection of the main contractors for the project, and finalising letters
of intent to underpin the contractual arrangements and the provision of vendor
funding for $400 million, is near completion. Following a comprehensive
commercial bank market engagement process, with a number of banks expressing a
desire to support the project, a pathfinder bank will be appointed imminently
to assist with the arrangement of senior debt facilities for the project.
"With Brent oil prices currently above US$75 per barrel, combined with the
cost efficiencies secured through FEED and engagement with the contractors,
the economics for the Sea Lion project are highly attractive.
"Our Greater Mediterranean portfolio continues to meet its primary objective,
namely to provide a production and cash flow base to fund our corporate and
operating costs and protect our balance sheet. Balance sheet cash is preserved
for capital investment, primarily in the Falkland Islands.
"Looking forward, we have an exciting four-well drilling campaign in Egypt,
expected to commence in mid-2018, with a combination of infill development and
exploration across our Abu Sennan and El Qa'a Plain interests.
"In March 2017, we commenced international arbitration proceedings against
the Republic of Italy in relation to the Ombrina Mare field. The hearing has
been scheduled for early February 2019 with an outcome expected in
mid-2019. Rockhopper believes it has strong prospects of recovering very
significant monetary damages - on the basis of lost profits - as a result of
the Republic of Italy's breaches of the Energy Charter Treaty. All costs
associated with the arbitration are funded on a non-recourse ("no win - no
fee") basis from a specialist arbitration funder.
"We look forward to providing further updates as we progress through this
exciting phase for the Company."
:Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and
production company with key interests in the North Falkland Basin and the
Greater Mediterranean region, will hold its Annual General Meeting ("AGM") in
London later today.
David McManus, Chairman of Rockhopper, will make the following statement at
the AGM:
"Over the course of 2017, Rockhopper has continued to balance the progression
of its world-class Sea Lion project in the North Falkland Basin with building
a material production base in the Greater Mediterranean, and with an ongoing
focus on cost control.
"2018 has the potential to be transformational with all efforts focused on
securing the funding required to sanction the Sea Lion project and move into
the development phase.
"The selection of the main contractors for the project, and finalising letters
of intent to underpin the contractual arrangements and the provision of vendor
funding for $400 million, is near completion. Following a comprehensive
commercial bank market engagement process, with a number of banks expressing a
desire to support the project, a pathfinder bank will be appointed imminently
to assist with the arrangement of senior debt facilities for the project.
"With Brent oil prices currently above US$75 per barrel, combined with the
cost efficiencies secured through FEED and engagement with the contractors,
the economics for the Sea Lion project are highly attractive.
"Our Greater Mediterranean portfolio continues to meet its primary objective,
namely to provide a production and cash flow base to fund our corporate and
operating costs and protect our balance sheet. Balance sheet cash is preserved
for capital investment, primarily in the Falkland Islands.
"Looking forward, we have an exciting four-well drilling campaign in Egypt,
expected to commence in mid-2018, with a combination of infill development and
exploration across our Abu Sennan and El Qa'a Plain interests.
"In March 2017, we commenced international arbitration proceedings against
the Republic of Italy in relation to the Ombrina Mare field. The hearing has
been scheduled for early February 2019 with an outcome expected in
mid-2019. Rockhopper believes it has strong prospects of recovering very
significant monetary damages - on the basis of lost profits - as a result of
the Republic of Italy's breaches of the Energy Charter Treaty. All costs
associated with the arbitration are funded on a non-recourse ("no win - no
fee") basis from a specialist arbitration funder.
"We look forward to providing further updates as we progress through this
exciting phase for the Company."
Die Wahrscheinlichkeit dürfte höher sein, wenn der Ölpreis nicht gerade wieder den Rückwärtsgang einlegt.
Die 30% scheinen eher eine Rückwärtsrechnung zu sein, nach dem Motto, wenn es kommt, müsse die Aktie beim dreifachen Kurs stehen. Aber das ist wohl auch eher Unsinn, denn erstmal müssen ja Unsummen investiert werden. Und wenn man schon so weit ist, dabei die Absatzförderung der Zulieferer und Dienstleister in Anspruch nehmen zu müssen, muss man nicht denken, dass da einfach so die Cashflows hereinströmen, ohne Kapitalmaßnahmen oder Coinvestoren.
Die 30% scheinen eher eine Rückwärtsrechnung zu sein, nach dem Motto, wenn es kommt, müsse die Aktie beim dreifachen Kurs stehen. Aber das ist wohl auch eher Unsinn, denn erstmal müssen ja Unsummen investiert werden. Und wenn man schon so weit ist, dabei die Absatzförderung der Zulieferer und Dienstleister in Anspruch nehmen zu müssen, muss man nicht denken, dass da einfach so die Cashflows hereinströmen, ohne Kapitalmaßnahmen oder Coinvestoren.
Tolle Infos von dir, danke.
30 % nur, oh bitter.
Drücke uns die Daumen.
30 % nur, oh bitter.
Drücke uns die Daumen.
Die Gerüchtküche brodelt weiter. Auch wenn die Realisierungschancen nur bei 30% gesehen werden. Knackpunkt, erwartungsgemäß die Projektfinanzierung.
Hauptversammlung ist nächste Woche am 18. Mai. Wird dort oder gar vorher die "Katze aus dem Sack gelassen"?
https://www.investorschronicle.co.uk/shares/2018/05/11/oil-s…
Rockhopper Exploration (RKH) another company desperate for its hands to be untied. Eight years after hitting pay dirt at its Sea Lion discovery – and despite a 115 per cent increase in independently certified 2C resources in the intervening period – Rockhopper’s cornerstone project is yet to be signed off. Of course, a lot has also happened to oil prices in that period, although the crash in crude effectively sparked a full redesign of the North Falklands development, reducing phase one life-of-field costs to just $35 a barrel in the process. That figure, and peak field production of 120kbopd, neatly parallels the project economics of Shell’s recently commissioned Vito field.
Yet based on its sum-of-the-parts valuation, broker Peel Hunt estimates that the company’s shares imply little more than a 10 per cent probability that the project will get off the ground. The same analysts have Rockhopper on a ‘buy’ rating, and have attached a 60p target price to the shares, although Sea Lion falls outside of the ‘core’ net asset valuation. Peel Hunt also thinks the first phase of the project – worth 138p a share to Rockhopper on an un-risked basis – has just a 30 per cent chance of development.
Despite this, field operator Premier Oil (PMO) has told the market to expect a FID by the end of 2018. The obstacles are numerous, not least of which is Premier’s existing indebtedness, which complicates the ability of the joint venture to raise around $800m in senior financing from banks and export credit agencies. That’s also only around half the capital expenditure required to pump first oil.
Improbably, perhaps, recent noises all point to momentum. Premier and Rockhopper are optimistic that project contractors can provide some $400m in vendor financing, with the balance made up from cash flow in the first years of the project’s operation. The imminent rumoured appointment of a lead bank, if substantiated, could act as a big catalyst for Rockhopper’s shares.
Verdict: Positive
http://en.mercopress.com/2018/05/12/falklands-premier-oil-fi…
South America, including the Falkland Islands, has the highest number of planned and announced floating production, storage, and offloading units (FPSOs) to be commissioned by 2025, according to a report by GlobalData. World wide 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.
Titled ‘Quarterly Global FPSO Industry Outlook – Brazil Leads FPSO Deployments in South America’, the report gives details about region-wise planned and announced FPSOs for the outlook period.
South America occupies the first position in terms of planned and announced FPSO additions by 2025 with 33, followed by Africa and Europe with 17 and seven, respectively.
Among countries, Brazil is set to have the highest planned and announced FPSOs with 27, and subsequent places in the list of countries are held by Angola, Nigeria and Australia with six, five and four units, respectively.
“Globally, 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.”
Among operators, Petrobras (23), Saipem (3), Statoil (3), Premier Oil (3) and Modec (3) are expected to have the highest FPSO additions by 2025.
Guyana and the Falkland Islands are set to have three FPSOs each
Of the 17 FPSO additions set to come online in Africa, Angola leads with six, followed by Nigeria with five.
Asia will witness the addition of five planned and announced FPSOs over the next four years, with India set to have two, while the remaining three will be in Malaysia, China, and Indonesia.
Among the European nations, the UK will have two announced and one planned FPSO additions by 2025, while Norway will pitch in with four planned and announced FPSOs.
Since the previous report was published in January this year, the FPSO segment has seen the postponement of the initial years of three FPSOs globally, while five were announced and one has been shelved.South America, including the Falkland Islands, has the highest number of planned and announced floating production, storage, and offloading units (FPSOs) to be commissioned by 2025, according to a report by GlobalData. World wide 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.
Titled ‘Quarterly Global FPSO Industry Outlook – Brazil Leads FPSO Deployments in South America’, the report gives details about region-wise planned and announced FPSOs for the outlook period.
South America occupies the first position in terms of planned and announced FPSO additions by 2025 with 33, followed by Africa and Europe with 17 and seven, respectively.
Among countries, Brazil is set to have the highest planned and announced FPSOs with 27, and subsequent places in the list of countries are held by Angola, Nigeria and Australia with six, five and four units, respectively.
“Globally, 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.”
Among operators, Petrobras (23), Saipem (3), Statoil (3), Premier Oil (3) and Modec (3) are expected to have the highest FPSO additions by 2025.
Guyana and the Falkland Islands are set to have three FPSOs each
Of the 17 FPSO additions set to come online in Africa, Angola leads with six, followed by Nigeria with five.
Asia will witness the addition of five planned and announced FPSOs over the next four years, with India set to have two, while the remaining three will be in Malaysia, China, and Indonesia.
Among the European nations, the UK will have two announced and one planned FPSO additions by 2025, while Norway will pitch in with four planned and announced FPSOs.
Since the previous report was published in January this year, the FPSO segment has seen the postponement of the initial years of three FPSOs globally, while five were announced and one has been shelved.
Hauptversammlung ist nächste Woche am 18. Mai. Wird dort oder gar vorher die "Katze aus dem Sack gelassen"?
https://www.investorschronicle.co.uk/shares/2018/05/11/oil-s…
Rockhopper Exploration (RKH) another company desperate for its hands to be untied. Eight years after hitting pay dirt at its Sea Lion discovery – and despite a 115 per cent increase in independently certified 2C resources in the intervening period – Rockhopper’s cornerstone project is yet to be signed off. Of course, a lot has also happened to oil prices in that period, although the crash in crude effectively sparked a full redesign of the North Falklands development, reducing phase one life-of-field costs to just $35 a barrel in the process. That figure, and peak field production of 120kbopd, neatly parallels the project economics of Shell’s recently commissioned Vito field.
Yet based on its sum-of-the-parts valuation, broker Peel Hunt estimates that the company’s shares imply little more than a 10 per cent probability that the project will get off the ground. The same analysts have Rockhopper on a ‘buy’ rating, and have attached a 60p target price to the shares, although Sea Lion falls outside of the ‘core’ net asset valuation. Peel Hunt also thinks the first phase of the project – worth 138p a share to Rockhopper on an un-risked basis – has just a 30 per cent chance of development.
Despite this, field operator Premier Oil (PMO) has told the market to expect a FID by the end of 2018. The obstacles are numerous, not least of which is Premier’s existing indebtedness, which complicates the ability of the joint venture to raise around $800m in senior financing from banks and export credit agencies. That’s also only around half the capital expenditure required to pump first oil.
Improbably, perhaps, recent noises all point to momentum. Premier and Rockhopper are optimistic that project contractors can provide some $400m in vendor financing, with the balance made up from cash flow in the first years of the project’s operation. The imminent rumoured appointment of a lead bank, if substantiated, could act as a big catalyst for Rockhopper’s shares.
Verdict: Positive
http://en.mercopress.com/2018/05/12/falklands-premier-oil-fi…
South America, including the Falkland Islands, has the highest number of planned and announced floating production, storage, and offloading units (FPSOs) to be commissioned by 2025, according to a report by GlobalData. World wide 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.
Titled ‘Quarterly Global FPSO Industry Outlook – Brazil Leads FPSO Deployments in South America’, the report gives details about region-wise planned and announced FPSOs for the outlook period.
South America occupies the first position in terms of planned and announced FPSO additions by 2025 with 33, followed by Africa and Europe with 17 and seven, respectively.
Among countries, Brazil is set to have the highest planned and announced FPSOs with 27, and subsequent places in the list of countries are held by Angola, Nigeria and Australia with six, five and four units, respectively.
“Globally, 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.”
Among operators, Petrobras (23), Saipem (3), Statoil (3), Premier Oil (3) and Modec (3) are expected to have the highest FPSO additions by 2025.
Guyana and the Falkland Islands are set to have three FPSOs each
Of the 17 FPSO additions set to come online in Africa, Angola leads with six, followed by Nigeria with five.
Asia will witness the addition of five planned and announced FPSOs over the next four years, with India set to have two, while the remaining three will be in Malaysia, China, and Indonesia.
Among the European nations, the UK will have two announced and one planned FPSO additions by 2025, while Norway will pitch in with four planned and announced FPSOs.
Since the previous report was published in January this year, the FPSO segment has seen the postponement of the initial years of three FPSOs globally, while five were announced and one has been shelved.South America, including the Falkland Islands, has the highest number of planned and announced floating production, storage, and offloading units (FPSOs) to be commissioned by 2025, according to a report by GlobalData. World wide 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.
Titled ‘Quarterly Global FPSO Industry Outlook – Brazil Leads FPSO Deployments in South America’, the report gives details about region-wise planned and announced FPSOs for the outlook period.
South America occupies the first position in terms of planned and announced FPSO additions by 2025 with 33, followed by Africa and Europe with 17 and seven, respectively.
Among countries, Brazil is set to have the highest planned and announced FPSOs with 27, and subsequent places in the list of countries are held by Angola, Nigeria and Australia with six, five and four units, respectively.
“Globally, 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.”
Among operators, Petrobras (23), Saipem (3), Statoil (3), Premier Oil (3) and Modec (3) are expected to have the highest FPSO additions by 2025.
Guyana and the Falkland Islands are set to have three FPSOs each
Of the 17 FPSO additions set to come online in Africa, Angola leads with six, followed by Nigeria with five.
Asia will witness the addition of five planned and announced FPSOs over the next four years, with India set to have two, while the remaining three will be in Malaysia, China, and Indonesia.
Among the European nations, the UK will have two announced and one planned FPSO additions by 2025, while Norway will pitch in with four planned and announced FPSOs.
Since the previous report was published in January this year, the FPSO segment has seen the postponement of the initial years of three FPSOs globally, while five were announced and one has been shelved.
Trading Spotlight
Antwort auf Beitrag Nr.: 57.733.915 von Andrija am 10.05.18 13:58:53Wow, wie in den guten alten Zeiten.
Sea Lion kommt!?
Sea Lion kommt!?
Antwort auf Beitrag Nr.: 57.269.509 von Andrija am 13.03.18 22:05:36Wir haben "noch" keine positive Entscheidung und der Kurs entwickelt sich sehr erfreulich. Klar, ist dem hohen Ölpreis geschuldet und die Umstände sind alles andere als schön. Die Falklands dürften allerdings wieder massiv auf der Agenda sein. Bin mit FOGL/RKH nur noch 50% im Minus
Antwort auf Beitrag Nr.: 57.591.879 von honigbaer am 20.04.18 15:20:07Ganz gute Zusammenfassung.
Biete noch Ergänzungen:
http://www.edisoninvestmentresearch.com/research/report/rock…
https://www.energyvoice.com/oilandgas/169384/rockhopper-look…/
http://en.mercopress.com/2018/04/20/falklands-oil-industry-f…
Ich denke, Kursreaktionen lassen nicht mehr lange, keinesfalls bis Ende des Jahres auf sich warten.
Biete noch Ergänzungen:
http://www.edisoninvestmentresearch.com/research/report/rock…
https://www.energyvoice.com/oilandgas/169384/rockhopper-look…/
http://en.mercopress.com/2018/04/20/falklands-oil-industry-f…
Ich denke, Kursreaktionen lassen nicht mehr lange, keinesfalls bis Ende des Jahres auf sich warten.
Hier etwas zu rockhopper. Ich dachte ich stell das schnell hier rein.
https://www.epmag.com/rockhopper-premier-progress-toward-sea…
Was steht denn drin, lohnt es sich, das zu lesen?
https://www.epmag.com/rockhopper-premier-progress-toward-sea…
Was steht denn drin, lohnt es sich, das zu lesen?
Antwort auf Beitrag Nr.: 57.268.807 von honigbaer am 13.03.18 21:04:46Davon würde ich ausgehen. Allerdings wird mit dem Projektentscheid sicher ein timetabel veröffentlicht. Mit einer positiven Entscheidung wird sich der Kurs aber ohne den ersten Tropfen Öl nach meiner Einschätzung mindestens verdoppeln. Mein Öldepot hat das bitter nötig.
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