Hurricane Energy Share Discussion Threads

[hopeful holder] 16/3/2023 08:19

The 12.5p is not guaranteed. The 12.5p sum is spread over a number of POSSIBLE payments all the way through to 2026. It presumes the well operates and produces during all that time and does not become uneconomical under its new owners.So Prax are offering us ongoing payments presuming the well performs. There is no detail on what those levels actually and payments based on in the RNS.

[marmar80] 16/3/2023 08:18

Today UK GOV decision about the future of the Windfall Tax. The announcement date from Prax&Hur is not a coincidence.

[molatovkid] 16/3/2023 08:17

All looks un-necessarily confusing and I don't trust it.

Be surprised if we see anything from the Deferred Consolidation Units.

[marmar80] 16/3/2023 08:14

This deal oa a bit of nonsense. Why sell for total of 12.50pps which half will be paid annually in arrears if you can keep Hurricane as Hurricane and do exactly the same?

[kooba] 16/3/2023 08:00

https://ir.design-portfolio.co.uk/viewer/60/56267?utm_campaign=13833305_RNS%20alert%20%28HUR%3A56267%29&utm_medium=email&utm_source=Design%20Portfolio%20Marketing%20Services&dm_i=9LG,88HUH,A6FC51,XSYW6,1

[agnabeya] 16/3/2023 08:00

@36913- care to elaborate? tia

The Acquisition, assuming full value is delivered by the Deferred Consideration Units, will deliver Hurricane Shareholders 12.50 pence per Hurricane Share and values the entire issued ordinary share capital of Hurricane at approximately £249.0 million.


Can anyone tell me what Deferred Consideration Units means?
Or enlighten the agreement further?

[kooba] 16/3/2023 07:58

Well theres a bid or sorts.seems shareholders get around 6p out in cash over the next few months and a share in future upside.The minimum is a discount to shareprice the maximum over a number of years and everything going right is a decent premium.Much being paid as dividends which might not suit all.Seems a very complicated and convoluted structure.Haven't looked closer have a meeting, so will go through in more detail later.Seems to be accepted by the two leading shareholders.Suppose one gets most of the cash out and still has upside..im sure there will be mixed views.

[orchestralis] 16/3/2023 07:51

Complicated

[agnabeya] 16/3/2023 07:50

RNS- recommended acquisition. Prax. 4.15p per share

[senseman] 15/3/2023 17:57

koob - Brent at -$74 as Credit Suisse meet temporary problems. Banking consensus is that contagion won't spread and stability back within a few weeks. Since cash is climbing to meet any low value bid likely to be offered at present - sensible to raise drawbridge and abandon the FPS till improved times?
hxxps://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Crash-Below-70-As-Credit-Suisse-Shares-Tumble.html

[kooba] 15/3/2023 16:59

Brent below $72 a barrel...not going to help on any senario I'm afraid.

[kooba] 15/3/2023 13:19

Pathetic individual.

[kooba] 15/3/2023 12:49

Well pro i didn't actually say they would accept it did i ? I was pointing out that the offer made back then was before any distribution and that post any distribution would be adjusted. Simples. Yes there has been some offloads since then converting oil in the ground to cash..but also I'm not sure if you have spotted the oil price when they were talking 7.7p , oil was $95 then now its $75..i wonder if that makes any difference to valuation ?

[marmar80] 15/3/2023 12:18

We don't know, but I feel we will get over 10p back in total this year.

[xxproinvestorxx] 15/3/2023 11:59

Kooba

The total consideration of any new offer will be above 7.7p. The board rejected the 7.7p offer. So why would they now, after two additional lifts, feel like this would be an acceptable offer to put forward to shareholders?

[marmar80] 15/3/2023 11:45

From Roberto Baggio?

[sensemun] 15/3/2023 11:14

I have just received a very interesting email from RB

[marmar80] 15/3/2023 10:54

Agree about the notice period.I still thinknthat the offer is from the buyer with low budget who badly wants Hur tax credits so will get us finaly for their 7.70 when the 3.10 is paid to us by Hur.

[kooba] 15/3/2023 10:26

That might happen but they need to keep pumping for at least another year and they need production to hold up and the oil price to strengthen. There is risk in the wind down model as mentioned before..so whilst it is possible to squeeze 10p out in distributions there is risk. Unfortunately no one seems to be jumping at getting the tax credits so as with the previous offer maybe any offers are merely reflecting the short term cash position...any bidder is looking at a single asset production well with quite some work to be able to exploit anything else on the licence..and then deal with the decommissioning on well 6.If they do announce a capital return they need to give i believe at least a weeks notice of the timetable. Ex date and payment date.

[marmar80] 15/3/2023 09:45

Not yet. It should be announced by end of this month.