Hurricane Energy Share Discussion Threads

[h2owater] 07/10/2021 09:29

As previously announced, the 24(th) cargo of Lancaster oil, totalling approximately 505 Mbbls, was lifted in late-August 2021. Over 10 million barrels of Lancaster crude have now been produced and sold from the Lancaster field. The next cargo is expected to be lifted in early- to mid-October 2021.Financial UpdateAs of 31 August 2021, the Company had net free cash(4) of $144 million, compared to the last reported figure of $122 million as of 31 July 2021.

[marmar80] 07/10/2021 09:25

Am interesting read about UE and gas.UE decision in a few months. "Exclusive-Lawyers warn EU against labelling gas as a 'green' investment"https://uk.investing.com/news/commodities-news/exclusivelawyers-warn-eu-against-labelling-gas-as-a-green-investment-2479530

[marmar80] 07/10/2021 09:19

Oil prices are just in the correction phase. WTI will stop at $75 and Brent at $78. Say today in red and flat tomorrow. Then we will read again that more oil is needed as global oil consumption is increasing and prices will be going up. Whole drama again.

[cashisking76] 07/10/2021 08:46

With new BoD in place and a very bullish $80+ Brent, artificially suppressed HUR share price will be back in double figures here lot sooner than some may currently expect, IMHO, DYOR.

[telbap] 06/10/2021 19:18

Agree, very little goes up in a straight line, not even rockets ?

[onlylongterm9] 06/10/2021 15:49

Good day to top up on the most undervalued Oiler around, HUR is fantastic value here, and particularly at today’s Brent prices, GLA.

[marmar80] 06/10/2021 15:15

Small top up for me at 3.8, thanks.

[officerdigby] 06/10/2021 15:01

Sorry ngms, I mean the restructure management paying lots of SHs money to advisors to give 95% away.Year before bonds due etc.(I'm sure you'll find some other hole in the analogy)

[officerdigby] 06/10/2021 14:51

Reminiscent of GKP in some ways.Obviously that went the other way for different reasons. One of which didn't have SH like here.

[kirkuk] 06/10/2021 14:43

Surely the legal costs should be challenged and re-assessed by the
Law Society.

[ngms27] 06/10/2021 14:35

I agree there should be comeback on the last two BoD's, Trice and Stobie (disastrous fund raising) and the lot that tried to wipe out equity.

However we both know that the City looks after it's own and only PI's feel the real pain.

[senseman] 06/10/2021 14:29

kooba - pursuant to CA request for investigation (and with so far 85 SH emails support, NEDs replied SHs a few days ago they will investigate and revert within 1 month. See CA annual report about a week ago (on CA website) - CA called for to be done by 2 new NEDs, and for independents to be hired if NEDs thought appropriate

[kooba] 06/10/2021 14:20

Yes that was the estimate touted by the company , much of that would have been the bondholders advisors and legal costs and Hurricane advisors and legals but not sure what the actual figure was as there was some success element so could have come down a bit ..but likely offset by CA getting the much more modest successful costs of challenging back.One of the bondholder advisors was on a £100k a month retainer from Oct paid by the company and a success fee..which of course they didn't get. If the costs had not been incurred i believe one could forecast no current shortfall in repaying bondholders...though i believe that it is very close now anyway.Cant believe the company paid so much money for so much bad advice..effectively shareholder money, when they were trying to undermine shareholders. More i think on it the more there should be and independent investigation of board actions..with the benefit of hindsight someone needs to be accountable.

[luckyjoe999] 06/10/2021 14:15

Post from lse bb today:

trendfriend
Today 11:03
Posts: 521
Price: 4.074

“The chart is showing a potential target as high 9.60p area in the coming days/weeks...so a short term target basically.
If this can get its head above 5.40p it should motor up pretty quickly to that area around 10p imvho....very little resistance between those levels.
This needs to hold above 3.50p on eod closing basis for that upside technical target to remain active...
So while above 3.50p look fro a break above 5.40p which opens up 9.60p .

just a little heads up....will post a chart if its of interest.
stay lucky folks.”

[marmar80] 06/10/2021 14:11

I think some are expecting for the oil prices to climb only one way without any corrections so they are selling. Oil price correction today and perhaps tomorrow another step up.

[telbap] 06/10/2021 14:05

Well that visit to 4p plus was short lived!Flipping the coin again......

[ngms27] 06/10/2021 13:25

I thought the attempted restructuring cost HUR £17m in fees etc, but I might be wrong

[kooba] 06/10/2021 13:16

Stifel should have been the first line of investor protection as company nomad on an aim listed company ..they obviously approved the restructuring and probably made a few quid on its formulation. They also were the primary placee of the bonds. Chances of them writing anything bullish rather a long shot as it rather undermines the advice they gave in allowing the company to push such dilution against shareholders.Bet they've made a fair few M out of Hurricane over the years though...not many have!

[marmar80] 06/10/2021 13:02

"Oil hits multi-year high on OPEC+ restraint amid global energy crunch"https://uk.investing.com/news/commodities-news/us-oil-rises-to-highest-since-2014-amid-global-energy-crunch-2478575

[wbodger] 06/10/2021 12:18

I wonder what Crystal Amber thinks of Stifel.

Here's a post on the Allied Minds BB (another Crystal Amber holding) which quotes the Allied Minds corporate broker about that company:

we think FW, OSK and BridgeComm (we estimate: 17% of ALM's total portfolio-company NAV) are only months away from financial transactions which will show that, in aggregate, ALM is worth significantly more than our estimate of its NAV (46p)

Maybe over the top, but surely that's the job?

[marmar80] 06/10/2021 09:58

Lads whoever is in steer now clearly wants the win for HUR. Look at the share price, soon 4.5p again

[jacks13] 06/10/2021 09:55

So wouldn't it be better to say so.

[ngms27] 06/10/2021 09:54

They want the old guard out, Maris and Chaffe.

[jacks13] 06/10/2021 09:53

The current board is comprised of :
CEO, Antony Maris
CFO, Richard Chaffe
Non-Executive Chairman, Alan Wright
Non-Executive Director, David Ian Craik
Other directors
Secretary, Daniel Jankes

Only Maris could be described as having been 'airdropped in to carry out their hatchet-job'. Chaffe had previously been assistant to Stobie, and is not a NED. Wright and Craik have appeared since and as a consequence of the failed restructure. So who is it that now requires the order of the boot in your opinion?