Hurricane Energy Share Discussion Threads

[rayrac] 20/3/2017 09:42

Daily chart might look positive. But why is the share not positive? The share price has done nothing for some time, are we all scared of something not so positive!..Since mid Jan in fact!

[laserdisc] 20/3/2017 09:40

once again I topped up earlier this morning very happy to have opportunity to hold this stock, stril polar just arrived at the rig

[pauliewonder] 20/3/2017 09:40

What I would give for a 4-bagger!!

[davidblack] 20/3/2017 09:39

The fact that "We" expect news each trading day of late and don't get it is having an interesting effect on the trading.

There appears to be a steady stream of sellers who are either tired or fearful of bad news who are selling and taking the price back slightly during the day.

But there is also a quiet process of accumulation of those sold shares which is being recycled towards new and my guess is institutional holders.

This long wait may well be doing us a big favour by clearing out the loose selllersand discouraging the T20 guys from playing here?

We will see "Tomorrow?" Or maybe not!

[pauliewonder] 20/3/2017 09:39

Just topped up 52.3p. Thats it for me. Now some nice news please.

[gary38] 20/3/2017 09:32

Daily chart looking very positive as support is holding on price, 1 month and 3 month averages as of Friday giving a potential great spring board when news is released which can be any moment.

[extrader] 20/3/2017 09:08

Hi fatnacker,

I bought 100K ASC @ av. 4.9p and (a) topsliced regularly, then (b) let the tax tail wag the investment dog (end of taper relief), what "might " have been £ 7 million at the peak was considerably less than that...;-<<br />
With the right share (or a property in London), who needs the National Lottery, eh ?

ATB

[fatnacker] 20/3/2017 08:16

I bought 30k ASOS at just over 3p and sold soon after for 12p, nice 4 bagger, Doh!

[jimarilo] 20/3/2017 08:15

Could be worse, you could be holding Tullow ;-(

[telbap] 20/3/2017 08:10

Similar stories exist re asos. 5p to 7000p in 3 years, and still they barely break even every year, growth, growth, growth.....I give up trying to reason the valuation on that company, who once again are steaming through the 50's.....pounds that is..Back to reality, looks like they will take it to the wire, so next Thursday is the last day in there original schedule, unless they come back for more time?

[buffythebuffoon] 20/3/2017 08:08

That story was discussed years ago when it first came out. I may be wrong, but I seem to remember it was Tournesol who pointed out the rather dubious figures at the time.

I don't think for one second the story was made up; I just think it was embellished somewhat.

Buffy

[telbap] 20/3/2017 07:19

No rns today ladies and gents.

[wessexmario] 19/3/2017 23:39

If you look back at how Hurricane obtained the Halifax licence, I believe Dr T followed the seismic from Lancaster, which is why he asked for the out-of-round licence.
He knew that Halifax was contiguous with Lancaster before he even had the licence, otherwise he wouldn't have asked for it, he would have just got on with drilling the other prospects that he had at the time. They weren't [and still aren't] short of drilling targets.

[chessman2] 19/3/2017 22:37

Like one or two others here I was a holder in Dragon and managed to buy at 23p in 2003.

At the end I held half my original holding and the profits have offset my losses in GKP and a few others. I found Encore at 8p and believe HUR is another in the same class, if not bigger. Unfortunately my first buys were at 40p but my average is now at 22p so not too bad.

I expect good news this week. Halifax is a big field but I'm unsure if Dr T can yet say, with certainty, it is joined with Lancaster.

[zztop] 19/3/2017 21:01

I remember years ago, every man and his dog had dragon oil shares, most of them felt they had been stitched up...scammed..luckily in the end after years and years it actually paid off..I think the same institution must have been on the phone selling them to anyone who would take the bait..?

[extrader] 19/3/2017 19:24

Hi tournesol,

I stand corrected on the multiple !

I imagine that, like the journalist, I just saw starting capital (of £185K , per Cross) and closing Mcap of 1,000 x that and ignored consolidation and/or rights etc along the way.

Taking your lower 'best case' 113 x , from its low of +/- 10p, HUR would have to go over £11-50 to better Cross's achievement. CA is supposed to have estimated £ 17 if all HUR's stars are aligned, so who knows ?

How would Dana's claimed metrics of 50,000 bopd and 300mmbbl be valued in today's market ?

ATB

[laserdisc] 19/3/2017 18:57

Hazydaisy no it was orig posted Friday on lse. Re the Ah vessels one is in dock Montrose and other Aberdeen Trinity quay the last time I looked. All that has transpired over week -end is spd have Stril Polar psv still on charter up to 31/3 that vessel left Aberdeen this morning will arrive rig mid day tomorrow, we presently have 2 supply vessels in operation SKANDI CALEDONIA &the Stril Polar, rns suppose could arrive any time may be good news if none tomorrow as weather just fine so could they be going to do dst early in week, I don't know only can guess, once the ahv sail one would think drilling complete, over on lse they also mention seabed survey sometimes these surveys are shared to reduce costs, it would be a specialist survey vessel which last time came over from Norway , I note bp are doing surveys nearby in coming weeks .

[hazydaisy] 19/3/2017 18:33

laserdisc ...is this new ?




Thanks Laserdisc

[tournesol] 19/3/2017 18:29

The story about the investment of £400 growing into £720k is fake news.

At best it's a misunderstanding by the journalist and at worst it's a fabrication. It implies a return of 1800x which is a massive exaggeration of the best possible case. That figure seems to have been calculated based on the fact that the company was formed by issuing shares with a nominal value of 1p and at the end of the company's life there was a takeover at £17/share. So 1p to £17 = a multiple of 1700x. Or is it? Well no actually it isn't. Firstly you might think that 1700x is not far from 1800x but it is still a multiple of 100x short which is pretty significant in my book. But that's a minor issue.

The real problem is not the shortfall of 100x, it's the fact that the calculation takes no account of the 15:1 consolidation that took place in between the 1p and £17 share price. If you factor that in then the theoretical maximum gain would be 15p to £17 - a multiple of 113x - somewhat less than 1800x. So the mythical pensioner could theoretically have made £45k - a very much less heroic result.

But even that is hard to believe. To achieve it you'd have to have bought the shares at the nominal 1p price. Who could have done that and when? I do not think the shares ever traded at that figure - it's merely the nominal value of the shares not the actual value as traded in the market.

I held Dana for many years. It was my biggest investment and I had about 60% of my money in it at one point. I traded in and out once or twice at inflexion points and over the entire period between my first purchase and my final sale I made about 25x my investment which was very pleasing.

I do not believe that any private investor without privileged access could possibly have bought the shares for 1p at any time.

[hopeful holder] 19/3/2017 16:33

Let's hope we do a Dana or Dragon, or even better....

[extrader] 19/3/2017 16:05

Hi gibso 6767,

It was Dana Petroleum that went for £ 17, many holders (self included) reckon we wuz robbed.....

KNOC (Korea National OilCo) bought Dana in 2010 for £1.5 Bn in the UK's first hostile takeover by an Asian NOC, on the basis of roughly 2/3rds shareholders in favour. Anecdotally, many PI's felt the sale price undervalued the co, however the BoD was (eventually) on side and the II's carried the day.

...." Tom Cross received a phone call he’ll never forget six weeks ago. It came after the announcement that he was selling Dana Petroleum, the oil company he founded 16 years ago, for £1.87bn.

“It was from a disabled pensioner in Ireland who was calling to say thank you,” he recalls. “She said: 'Dana has transformed my life’.

“She invested £400 in 1995 and was getting a cheque for £720,000. She was able to move to a new bungalow with wheelchair access and to go to Australia to see her grandchild for the first time.

“There are a lot of people whose lives you have completely changed,’ she told me. That really captured it for me. It really showed me what this means.”

“This” is the takeover by Korea National Oil Corporation (KNOC), which Dana chief executive Cross, 49, had been battling against vehemently since a £17-a-share approach arrived in June.

With Cross refusing to open Dana’s books to the bidder or engage in exclusive talks, KNOC reluctantly lodged the first hostile bid from a state-owned national oil company in August at £18 a share – a 59pc premium to the pre-approach price.

The bid had the backing of 48pc of Dana’s investors but Cross still held out for a higher price. With the City seeing the bid as a foregone conclusion, he was criticised for adopting a “obstreperous&#8221; and “cantankerous&#8221; attitude and The Daily Telegraph’s Business Editor, Alistair Osborne, wrote that Cross was either “laughably out of touch with his shareholders or a total genius”.

Cross eventually conceded defeat when KNOC secured control of 64pc of the shares in September and the takeover has now been completed.

But in his first ever interview with a UK national newspaper, he insists that his obstinacy was simply a negotiating strategy.

“I’ve been in the oil business for 28 years,” he says. “Everybody who knows me knows I am anything but cantankerous. I am very balanced but my job was to sell the business, not to be nice to everybody.

“It’s a negotiation. You never accept the first price put on the table in any walk of life. My job was to get the best value for my 6,500 shareholders, not to roll over and say, 'tickle my tummy’.”

He certainly seems to know how to negotiate and is reaping a personal reward as he held 3m shares. So he’s realised £54m then? “It’s a bit more than that,” he corrects.

Is he going to buy anything with his gains? “I’m going to treat myself to a new company,” he responds, referring to his new job as chairman of Parkmead Group, the £36m Aim-listed oil minnow where he was already a non-executive director.

“I’m leaving Dana on Monday and starting at Parkmead on Tuesday. I love business and I love my job.

“What I’ll be doing is cracking on with that but I’ll probably have a nice holiday at Christmas, I’ve only had two days off all year.”

Cross says he began 2010 with the mindset that it was probably the right time to sell Dana and fended off several other advances from potential suitors before the Koreans arrived.

“I doubled my holding in Dana over the last year at between £9-£11 so the idea that I was driving the groom away was nonsense,” he says.

“I wouldn’t have done that if I didn’t think the company was going to be sold for a lot more money. I’ve bought many companies and I’ve sold three. If you’re a seller you want the maximum price and the way to do that is to not make it easy for the buyer. If you cuddle up to the first person that knocks on the door, you’re not going to get the best price. You’ve got to let them know there’s competition and you’ve got to make them hungry for the business. And if you encourage someone to buy shares, they’ve locked in a minimum price.” He made few friends with this approach but he defends it to the hilt.

“This is business and it’s about getting a result,” he says. “It’s not a popularity contest. People were commenting, 'Tom’s going to lose Dana the deal’, but that was nonsense. The idea I was going to scare someone off was nonsense. You know when you’re negotiating with them how badly they want the business. And what I negotiated is the best price paid for any independent UK oil exploration company.”

Dana was set up with just $300,000 (£185,000) by Cross in 1994, taking its name from the Celtic goddess of fertility and listing in Dublin before moving to London two years later.

It had instant success drilling 20 wells in western Siberia. Then Dana made an Indonesian discovery which it swapped for assets in the North Sea, which still accounts for 80pc of its 50,000-barrels-a-day production and 300m-barrel reserves.

“When we put the company together, the shares were 1p and we have many shareholders who have made over 1,000 times their original investment,” says Cross. “My record will stand for itself. Show me another business that has made a bigger return for its shareholders, because I’m not aware of one.” ......

A number of useful pointers for Dr T here !

ATB

[gibso6767] 19/3/2017 14:57

Cheers HH ,