Hurricane Energy Share Discussion Threads

[fatnacker] 11/11/2017 08:11

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bone apart11 Nov '17 - 00:10 - 27268 of 27271 2 0
Odd that this Dr Arnott should come out just as HUR say they are going for a full listing, which in itself involves far higher standards than those required of an AIM company? Like - the company says they're raising their game & he bellyaches about standards? Weird!
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[kaos3] 11/11/2017 06:44

I would start looking at the odd warrants RNS issue first! It makes no sense but is made just in time to connect both. A very good lead. Someone did a mistake probably and put RNS out to put something away.

On this BB either RNS was dissmised as irrelevant (by those who claim to understand) or not understand by many.

It smells as it has no sense. Could be issued by pure coincidence too.

But how many RNSs were not understood by most????? Or is it just me?

[bone apart] 11/11/2017 00:10

Odd that this Dr Arnott should come out just as HUR say they are going for a full listing, which in itself involves far higher standards than those required of an AIM company? Like - the company says they're raising their game & he bellyaches about standards? Weird!
Obviously there's been a disagreement & he's oviously miffed he was over ruled by the rest of the board. Did he want HUR to remain a £600M AIM company?
Squeeling to the FT isn't exactly impressive chairman-like behaviour, albeit ex-. More like bruised ego, bad blood & sour grapes.
As said above, after a couple of +ive days for SP, we heard about this yesterday, share price went down 0.5p, Arnott's squeeling was known this a.m. & share price went down 0.25p. WOW!
It'll be interesting to see the reactions, esp if HUR ignore Arnott, say "we're going ahead with a full listing" & get someone with a far higher profile to take his place.
Hmmmmmm..............

[davidblack] 10/11/2017 23:40

Terry I see this as a “Good thing” their corporate capabilities re the warrants and the 50% off the recent share price placing were “Below par.”

So now there is a catalyst for change in the works and investors who have just chipped in $500m who do have the muscle to insist on change. Add in the Nomad and Aim and there are all the ingredients to make sure change does happen and happen quickly.

So a bit of indigestion from the nervous but in 6 months time this will mark the point when the professionalisation commenced.

I doubt Dr A was the only one who held his views but some prefer to work quietly to achieve change and they will now have the mandate to do so. In particular I wonder what Kerogen make of this all?

So thanks to Dr A and good luck to him.

[bloodhound] 10/11/2017 23:37

Terry - I'd very much like to hear something from CA on this matter, especially given the stance they took regards AS.

Your comments:

"Don't you think people might just be a little bit curious about what the small matter of the corporate governance issues are that he's claiming?

Or is this truly something that can just be swept under the carpet and forgotten about?"

Sums the whole thing up, namely serious issues or a storm in a tea cup.

Let's see what next week brings or gets unearthed.

BH

[gary38] 10/11/2017 23:19

I for one was not impressed with Dr A at the agm with DrT the star of the meeting by far.

[gary38] 10/11/2017 23:16

Most investors see DrA going as a positive for the future of Hurricane Energy.Also price did not hardly move after that news and then looked on him running to the papers as a negitive, so we could see the share price up next week.

[davidblack] 10/11/2017 22:50

We will hear not a word if they have any sense! This was a matter thatshould have been resolved internally which it obviously wasn’t so now time to make sure that All is being managed properly going forward and that is the Nomads responsibility.

[greyingsurfer] 10/11/2017 22:50

Or is this truly something that can just be swept under the carpet and forgotten about?It's not about sweeping things under the carpet. The company clearly recognises that it is no longer what it was and governance changes are needed. There may have been disagreements about exactly what those should be, or perhaps the changes included the chair?Impossible to say from the outside exactly what, and I'm not going to jump to conclusions about there being major problems in the absence of much stronger evidence than remarks from a chair who may have been encouraged to move on.Certainly the market was not overly excited by his sudden exit on Thurs. Do his comments since change things as much as some here seem to think? Not obviously to me.Peter

[ltinvestor] 10/11/2017 22:32

Storm in a teacup.I suspect internal disagreement over future strategy resulting in Arnotts departure.He was a lightweight and most unimpressive at the AGM.LT

[davidblack] 10/11/2017 22:29

I think the Aim team and the Nomad will be looking to buy Dr A a coffee in exchange for a long chat?

[terry hardacre] 10/11/2017 22:12

Peter,Don't you think people might just be a little bit curious about what the small matter of the corporate governance issues are that he's claiming?Or is this truly something that can just be swept under the carpet and forgotten about?When it comes to a main listing, I thought there were certain standards of corporate governance required; isn't that going to represent a minor issue to the company's ambitions?

[prefab] 10/11/2017 22:12

And yet the share price is down a whole .5p since his resignation, the FT article was published well before market close which took .25p off the price.

Yes Peter 6 months since the block listing for the 25m warrants, which have obviously long since been converted.

[extrader] 10/11/2017 22:08

Hi all,

So how are we to square the departing Chairman's comments to the press re lack of governance with the concurrent announcement of the BoD's formation of a new Governance committee specifically to address the recognised 'growing pains' that he appears to be complaining about ?

There appears to be a consensus between the 2 sides over the issue (unless the new committee announcement is just fire-fighting), is the disagreement more over how to resolve it ?

If one of the key changes likely to be recommended is changing a middleweight (no disrespect to Dr Arnott) to a 'heavyweight' Chairman.....the present incumbent might be a bit miffed/slighted , esp as he's only been 'in post ' for 18 months and the 'pay day' for hard work is getting closer.

Whatever the reason(s) - and we may likely never find out - I don't think Arnott running to the FT has done either side any favours.

ATB

[greyingsurfer] 10/11/2017 22:07

So can someone summarise what’s exactly happened and what we can expect Perhaps a bit of volatility on Monday? His resignation was announced yesterday with no significant impact on the share price His remarks today may unsettle some people. But his there are clearly 2 sides to these sorts of events and the likelihood is we will never hear HUR's, or his in detail.One thing that is clear is that the company is transforming into something far larger than it was when the present board were mostly appointed, and yesterdays RNS makes it clear that they are acting on dealing with that to some way at least. I suspect the argument was about the detail and extent of those changes. Whatever the causes HUR is now moving towards improving governance and listing, which have to go hand in hand. As DB has said, that can only be a good thing.Peter

[terry hardacre] 10/11/2017 22:05

Ah well, screw it Dave - pouring meself a turps and coke, I'll line you one up while I'm at it.

[davidblack] 10/11/2017 22:01

Clearly no one here is happy!

[greyingsurfer] 10/11/2017 21:59

Whats the consequences of warrants rns in lay mans termsNone!It's simply statutory rereporting of something that happened, and was all explained in the RNSs of 12th and 17th MayPeter