Andalas Energy And Power Share Discussion Threads

[therealtonythetiger] 13/11/2017 10:41

Former chairman criticises governance at Hurricane Energy...

The oil industry veteran who this week resigned as chairman of Hurricane Energy has accused the company of falling short of the governance and leadership standards expected of a publicly listed group.

Hurricane, the oil explorer that claims to be sitting on the biggest new discovery beneath UK waters so far this century, on Thursday said Robert Arnott had resigned as non-executive chairman “with immediate effect”. The company also spelt out its ambition to graduate from London’s junior Aim market to secure a premium listing on a “recognised stock exchange”.

Mr Arnott, a former investment banker with more than three decades of experience in the oil and gas industry, said in a statement sent to the Financial Times that his efforts to urgently improve standards in governance and the company’s leadership culture had “failed to succeed due to a reluctance to implement immediate change”.

He added that “a substantial gap still exists between the company’s current standards of governance and leadership culture, and those expected of a publicly listed company”. This prompted his decision to resign, despite having only joined the board last year.

Hurricane has not yet committed to a particular exchange but a main market listing on the London Stock Exchange is most likely. It has created a subcommittee of the board to evaluate the options as well as review the company’s structure, including its governance arrangements.

The group said in a separate statement there had not been an “alignment of views” between Mr Arnott and the rest of the board “on certain aspects of the board’s processes and proposed changes”.

Hurricane, which floated on Aim in 2014, raised $530m earlier this year to help produce oil from its Lancaster field in the North Sea by the first half of 2019. It has drilled a series of successful wells in an area west of the Shetland Islands, a part of the UK North Sea where companies and analysts believe it is still possible to make sizeable discoveries.

The company’s chief executive Robert Trice, who specialises in a certain kind of geology known as “fractured reservoirs”, set up the company in a converted garden shed in 2005.

[rascotrading] 13/11/2017 10:20

I just saw a 10,000,000 shares bought at 0.042. It is a good sign I guess.

[ronjoe77] 13/11/2017 09:55

I got this thing in between my brain and my balls.?... This is the time. Could be wrong but my balls are spot on. Adl are going to explode, very very soon

[ronjoe77] 13/11/2017 09:03

Just countd the posts over on Lse over the weekend 13, so good, big pat on the back for..'' team Adl''. Maybe a huddle with all dept. Can we and I mean can we get this into the. 0005 before our break over the holidays,, OK high 5 team, right hand on left shoulder.Just a bit of love. ..

[ronjoe77] 13/11/2017 08:35

Anyone know what Bobby Arnott said to the press??

[ronjoe77] 10/11/2017 12:06

OK thats it looney tunes, catch you all up Monday...

[ronjoe77] 10/11/2017 11:57

As Alan suger said mama your fired. As Alan suger said doubled 2 your fired. As Alan suger said koolsland your fired. As Alan suger said Paul Warwick your fired Long live brainer, get right in.

[ronjoe77] 10/11/2017 11:41

Got a 20% rise on Monday.. Not one of them took a moment to ramp it up..

[ronjoe77] 09/11/2017 20:35

Dry ur eyes, ma wee poor soul.

[domple] 09/11/2017 15:30

omg ronjoe, yew engelisch sew mach betterer, yew bin askool? gold star for you.

[patch13] 09/11/2017 09:48

Hmm - why would Robert Arnott take up the senior non exec role in Andalas if it was going bust - why would he now resign as senior non exec with HUR?

[patch13] 09/11/2017 09:44

Thanks Tony - one of the few bits of relevant news posted on this board ref Siemens - not sure if positive or negative

[ronjoe77] 09/11/2017 09:35

Yes Hurricane sry,

[therealtonythetiger] 09/11/2017 09:11

You mean HUR.. Thanks Ron i didnt see that.. hope so..