Harbour Energy Share Discussion Threads

[ashkv] 09/6/2022 08:38

Note I sent to Elizabeth at HBR investor relations ->

I hope this message finds you well.

As a long term Premier Oil and now Harbour Energy shareholder - I would like to bring to your attention a possible repeat of the Premier Oil / Asia Research and Capital Management situation where a large but undisclosed short position has transpired / come about in HBR shares.

Listed below is the recent monthly average of HBR shares borrowed per Euroclear - this data is publicly disclosed (you can verify from the link). The number of shares borrowed / out on loan and not disclosed in FCA short selling daily public disclosure file ( link on this page for FCA file ) is alarming. I don't know of many instances when there are so many shares borrowed / out on loan but no corresponding short disclosure.

Could you please bring to the attention of the appointed brokers of HBR and relevant HBR management.

Harbour Energy Stock Borrowed on Average for Dec 2021 2.86%
Harbour Energy Stock Borrowed on Average for Jan 2022 2.07%
Harbour Energy Stock Borrowed on Average for Feb 2022 2.05%
Harbour Energy Stock Borrowed on Average for Mar 2022 3.64%
Harbour Energy Stock Borrowed on Average for Apr 2022 6.48%
Harbour Energy Stock Borrowed on Average for May 2022 9.24%

hxxps://my.euroclear.com/apps/en/monthly-stock-loan-data.html#month=eq:5&year=eq:2022&limit=9&search=1&order=asc:abbreviation

Thank you in advance for your assistance.

[bomfin] 09/6/2022 08:05

Thanks for info on Andaman. 6 trillion cubic feet gas target. That might be for the whole blocks there though? Still a success here opens up an underexplored basin.

[bomfin] 09/6/2022 04:41

Sqz have used all tax credits up. Harbour still have £ billions of tax credits.

[74sjh] 08/6/2022 22:05

Frankel I'm also very positive on HBR. We can all see the potential when the hedges expire. Andaman results due any moment - surely a risky time to be short? I wonder if the 10% on loan is not being used as collateral to raise cash. EIG are looking to buy part of Repsol so perhaps they are raising cash against part of their stake in Hbr? It's possible?

[one_frankel] 08/6/2022 19:43

Its nothing but the uncertainty with HBR buddy and I honestly dont know how affected SQZ are with the WT but HBR need to release some confirmation as to how detrimental it is to their business...But at these valuations, I doubt it will cause much further weakness so if you're invested dont worry as I have a very health position here and a little higher than current valuations and I still continue to be incredibly bullish!

[74sjh] 08/6/2022 19:36

Isnt the general thinking that SQZ was the proportionally the worst affected by the WT? Have they got 10% on loan too? I guess if they have them you guys are right and it's all probably down to shorting around the WT.

[one_frankel] 08/6/2022 19:13

Yes its possible but not consistently ongoing which is quite clearly apparent to HBR buddy!

...Why would anyone short HBR?...Because there's been no clarification statement from the company as to its position with the windfall tax and its ongoing liabilities, uncertainty is the biggest driver for shorting activity my dear friend!

[74sjh] 08/6/2022 19:09

An increase in stock on loan can (or used to be indicative in my day) of when institutions dividend washed for tax purposes. They would lend stick to jurisdictions where the re was no tax payable on the div and then see them returned in the following months. Maybe something like that is going on. I just don't see why anyone would short harbour right now even though it's fallen in recent weeks.

[one_frankel] 08/6/2022 19:03

Oil exploration comes with significant risks across the board which is why even significant shareholders use arbitrage to protect their investments buddy and if you wholly invest in commodities you should be well aware of the shortcomings!

[74sjh] 08/6/2022 18:59

I know all about ARCM and the problems they caused. Their short position was unwound as part of the merger and ended up causing part of the overhang.Been holder in pmo since pre merger and increased in Hbr September last year to be biggest my holding.

[one_frankel] 08/6/2022 18:56

You'll be surprised 74SjH, shorting is big business and I've seen in excess of twenty institutional shorts in a company below the 0.5% threshold buddy especially in commodity type stocks!

[ashkv] 08/6/2022 18:56

I am posting the above in relation to the disclosure of borrowed shares / likely short of HBR per Euroclear ->

Borrowed shares almost always correlates to short interest!!!

Harbour Energy Stock Borrowed on Average for Dec 2021 2.86%
Harbour Energy Stock Borrowed on Average for Jan 2022 2.07%
Harbour Energy Stock Borrowed on Average for Feb 2022 2.05%
Harbour Energy Stock Borrowed on Average for Mar 2022 3.64%
Harbour Energy Stock Borrowed on Average for Apr 2022 6.48%
Harbour Energy Stock Borrowed on Average for May 2022 9.24%

hxxps://my.euroclear.com/apps/en/monthly-stock-loan-data.html#month=eq:5&year=eq:2022&limit=9&search=1&order=asc:abbreviation

[74sjh] 08/6/2022 18:52

Maybe it's something to do with the public and private disclosures. I'm not expert on short-selling but do use the fca website to see what's being shorted rather than the public sites. But even at 0.5% that still means 20 institutions have to be short just under the threshold. Do you think there would be 20 all short just under 0.5%? Maybe who knows.

[one_frankel] 08/6/2022 18:48

If its regulated, FCA regulated companies have no choice but to adhere to those regulations buddy...And I honestly can't envisage it to be anything else but instituitonal shorts regardless of it being at the 10% level!

...Anyway, we'll agree to disagree my dear learned friend

[74sjh] 08/6/2022 18:38

I don't know why that's the case. But the fca collect the short positions notifications daily and update their spreadsheet in the afternoon. Perhaps the 0.5% is the threshold used by the third party data providers and they ignore anything below it. But the regulation is 0.1%.I hear your point about momentum traders but there just aren't enough of them to have a collective 10% short (in my view)

[one_frankel] 08/6/2022 18:28

Ohh really, so why do we see only confirmed shorts above 0.5 reported on sites on the public domain if what you state is true!

[74sjh] 08/6/2022 18:20

The threshold was reduced from 0.2 to 0.1 in February https://www.fca.org.uk/markets/short-selling/notification-and-disclosure-net-short-positions

[one_frankel] 08/6/2022 18:18

The reporting thresold is 0.5% buddy and restraining any upward momentum in HBR, I'll be truly astonished to see if its anything but buddy!

[74sjh] 08/6/2022 18:07

The short selling regulation reporting threshold is 0.1%. That's just 960,000 shares before the requirement to report to the fca. For the collective amount of shorts below the threshold to reach the 10% at euro clear would need around 100 institutions being short just under 960,000 shares. That's not realistic.

[one_frankel] 08/6/2022 17:49

74SjH, I dont think you understand how shorting instituitional algo's work, they follow the momentum either way so as to reduce or extend their risk exposure buddy!

...And it works both ways, large buy and sell orders which is how a particular share makes a market for itself and provides liquidity!

...There is no doubt there are institutional shorts in HBR currently but unfortunately they're below the threshold for public reporting buddy so we seem somewhat in the dark!

[74sjh] 08/6/2022 17:47

And there's your big trades reported that have been worked all day by the LSE's SETS algos. One at 200k and the other from the UC at 500k. HBR has an overhang of ex pmo debt holders that received shares as part of the merger. They were locked in but are now free to sell and as not natural equity holders are subsequently selling out and have been for some time.

[milliecusto] 08/6/2022 16:15

Maybe a leak??

[milliecusto] 08/6/2022 16:15

-- New wells on-stream at J-Area, AELE and Tolmount (UK); active 2022 rig programme including drilling underway at the Catcher- and J-Areas (UK) and the Andaman II licence (Indonesia)From latest Rns