Hurricane Energy Share Discussion Threads

[btvitexcoinvxcryptowhale] 05/3/2021 15:30

Get ready for BT crypto pals buys now.Tick tock watch the order book closely Here we come with real money BT

[kooba] 05/3/2021 15:26

One must presume that CAs view is formed from advice received from the industry experts they are employing and on the basis of the data that is available to them ..the timeliness and detail of the data provided I would imagine is well short of that available to the board.However with all the detail and timeliness in the world the then board managed to totally misinterpret what they had i guess.

[jacks13] 05/3/2021 15:25

Crystal Amber's consultant stepped in at short notice, I think it was in 2017, at either the AGM or a CMD to deliver a talk in Robert Trice's absence. Trice had been called away at short notice; gone to meet up with the Operations team. Someone with a better memory might remember what I'm on about. I came across the video not too long ago, so it is knocking about on the internet somewhere. But to answer your question tgg the consultant gave Trice's reservoir modelling the thumbs up from what I recollect.

[comedy] 05/3/2021 15:24

once oil can crack past $70 then we are going to have another run on the oil price...

will the bod be able to count the cash we are generating??? should we send in an abacus to them?

discuss

[fat frank] 05/3/2021 15:10

TGG: I've never been involved in well planning, just drilling, but I would've thought it could be planned pretty quickly if you had the required data.

My worry is they're still not sure where they want to go....

[thegreatgeraldo] 05/3/2021 15:00

Another question...... open to anybody!


The expert consultant that CA retain/employ...... did he/she agree with HUR about the OWC, or question HUR's modelling?

[imnotspartacus] 05/3/2021 14:59

Brent now $69.7!

[thegreatgeraldo] 05/3/2021 14:47

Frank - Simple question....


....You have an existing production well which has watered out. You look into sidetracking this well higher up in the reservoir. Would it take a few days, a week, month, 3 months ...or longer, to work out if this was a viable option ( never mind completion, just a basic ST)

[steve73] 05/3/2021 14:47

If the CBs are not repaid (or renegotiated) when they become due then the company has effectively defaulted on its debt, and the bondholders take over the company, usually by means of huge dilution, to give a nominal price per share (eg. 0.001p). All assets, including cash (which might even be more than the CB's actually need) becomes the property of the bondholders, to sell off, or redevelop as they see fit.

This is MY understanding, and it is what happened to XEL for those with long and painful memories. (OK, XEL weren't actually generating any income at the time, but that won't matter two hoots if the co. defaults on its bonds, it'd just be a bonus to the BH's if there was interest to sell it on, for example as an MBO...!!)

AIMHO,

[kooba] 05/3/2021 14:46

Well there you $69 !

[mhin2] 05/3/2021 14:42

we had updates in October, Dec and Jan

[thegreatgeraldo] 05/3/2021 14:41

& Finals are due in the next few weeks (released in March last 2 years)

[ngms27] 05/3/2021 14:38

mhin2, they are and have committed to quarterly updates. Next ones due in April.

That's why the OGA data is important.

[mhin2] 05/3/2021 14:34

surely if the bod wanted to support the sp, all they need do is provide an update on last lifting, and a little on well 6 performance. Why the BOD want to trash the share price needs to be investigated/bod held to account.

[comedy] 05/3/2021 14:34

I think that might constitute criminal behaviour….

lol


criminal
/ˈkrɪm=8;n(ə)l/

a person who has committed a crime.
"these men are dangerous criminals"
Similar:
lawbreaker
adjective
1.
relating to crime.
"they are charged with conspiracy to commit criminal damage"


youre having a larf???

we cant get police to investigate a recorded msg of death threat as caller id withheld and thinks it s a lark???

and you think pmsl there is going to be armed raid to take the hur bod away???

lol they'll find them playing tidly winks in the boardroom ...because a nice big shiny table:)

[fat frank] 05/3/2021 14:32

tournesl; So the reason for putting drilling back to 2022 is to enable enough cash (if production and poo holds up) for CB redemption?

Would also explain why most of the communication has been with CB holders so far and not CA.

[tournesol] 05/3/2021 14:23

TGG

Boring, but I did raise the issue of HUR's BoD having fiduciary responsibilities yesterday..... they need to plan to repay the CBs is my amateur commonsense opinion....not have a punt on drilling, cross fingers & hope for the best…

This issue is an elephant in the room which has been clearly visible for some time.

I refer my honourable friend to my post 20156 dated 5/10/20 in which I said:-

...funds are limited. And CB redemption is looming. Can a board of directors legitimately deploy funds into high risk strategies if that risks defaulting on scheduled redemptions? I think that might constitute criminal behaviour….

[ngms27] 05/3/2021 14:22

mhin2, put April fools day in your diary as that's when the OGA data is updated for Januarys production and the first full month on the ESP.

This should give an idea as to where the land lies.

[fat frank] 05/3/2021 14:20

mhin2: Due to the lack of any update I think we can only assume that well 6 is performing 'as expected' i.e. production slowly declining with a gradual increase in water cut. Surely anything different would have to be communicated to the market???

[thegreatgeraldo] 05/3/2021 14:20

Don't panic!!! If well 6 hits trouble, heads below 11,000bopd & doesn't seem to be stabilising, HUR will need to put out an announcement

[mhin2] 05/3/2021 14:16

shocking that hur has failed to respond to rising poo, does somebody know the performance of well 6....as people have said all very fishy and smelly. The new BOD said they would communicate more amongst other things...seems as if the have destroyed value, and are getting paid for it!

[thegreatgeraldo] 05/3/2021 14:10

Fat Frank
5 Mar '21 - 13:46 - 24319 of 24321
0 0 0
TGG: Are you saying there will be a pecking order with CB planning/agreement coming first before any shareholder involvement?

Shareholders are involved - they (effectively) sanctioned the issue of the CBs. The BoD, acting for shareholders, AIUI, have an obligation to ensure the bonds can be redeemed.

.... No idea what the legal niceties are, maybe we can speculate on the penalties for the board for not taking seriously the obligation to redeem the bonds.......

[lovewinshatelosses] 05/3/2021 13:56

I have emailed CA, in line with others, offering support in the event they make a move.
While I have written this 'investment' off, I would be delighted if the current BOD was at least made to work a bit harder to earn their considerable salaries, or at least work up a slightly uncomfortable sweat!

[ngms27] 05/3/2021 13:52

I've written to HUR management on shareholders behalves as to me this is a point of principle and they won't know if I'm a shareholder or not.

The last RNS is treating equity holders abysmally.