Hurricane Energy Share Discussion Threads

[albo] 17/3/2023 11:43

Kooba, re 36955 you might want to read note 14 of the Recommended Acquisition.......... then throw up!

[nicholasblake] 17/3/2023 11:30

So deal is cash for what’s there and funny money for what might or might not later prove economic. Great outcome from the previous Board’s dalliance with SoA.

[marmar80] 17/3/2023 09:58

Lads think twice before selling at this level.

[marmar80] 17/3/2023 09:55

Better wait until results are announced.

[blackhorse23] 17/3/2023 09:51

Bought ENQ today

[marmar80] 17/3/2023 09:43

Cigogne in with 1%. One positive sign, but share price does not reflect any confidence.

[tradoil] 17/3/2023 09:40

Business commentary in White Times. Small snippet. Mentions possibility of Prax reopening second Lancaster Well.

[kooba] 17/3/2023 09:36

RB tweetLooking forward to providing an update next week on our take on the Hurricane Energy bid.https://twitter.com/crystalamberrb1/status/1636661454152646656?s=61&t=s79RLRddG_Gfl7VpUZvZpQ

[lovewinshatelosses] 17/3/2023 09:25

kooba: I would be surprised if the answer to your questions was 'no'. Not that it would make much difference to the state of play here now. So much unrealised and appallingly mismanaged potential here. Ah well, AIM in a nutshell I guess. GLA.

[kooba] 17/3/2023 09:21

These guys have increased holdinghttps://www.crunchbase.com/organization/cigogne-managementLuxembourg hedge fund.

[kooba] 17/3/2023 09:13

Good questions.The one missing that i haven't seen in the documents are what are the arrangements for the executives. Are they being kept on in significant roles and salaries in the privatised Hurricane? Are there any incentives made to them by the potential new owner.

[kooba] 17/3/2023 09:04

CRS have to be fair stated their desire to exit the holding as they have some pressure , though currently not that pressing it seems to return cash to their own shareholders. They are aligned in wanting to achieve the best outcome for shareholders but their time horizons may be different to others..though as it stands Hurricane with a single short term production profile is not a long term opportunity! As a shareholder though one must remember without CRS we could be looking at 1/20th of current value if the restructuring had succeeded and diluted equity by 95%. They were right then and one has to have respect for their views now. As someone else pointed out we may glean further insight in the next CRS update as to the rational of this transaction...might try and see when that is.

[marmar80] 17/3/2023 09:01

Share price says it all about the sweet deal

[1nicko] 17/3/2023 08:56

Evil blues.
Well presented email.I hope you dont mind i just posted it on lse.Someone suggested a template to send.I think that your email would be spot on.

[evilblues] 17/3/2023 08:38

Good morning. I am a substantial share holder in hurricane energy and have some enquires I need fulfilling before I make my decision about voting for your proffered deal with Prax. Now is not the right time to push the board on why you failed to get a better offer for shareholders after 'multiple' interested parties, but what is very pressing is more clarity on the DCU's...What governance is/will be in place for DCU stakeholders once the company is taken private?Will individual stakeholders get the same treatment and transparency as Crystal Amber and Kerogen?Will individual stakeholders be privvy to company accounts?Will we be updated on company actions and direction?Will there be a spokesperson/role appointed as comms between stakeholders and prax?You have a legal and fiduciary duty to your existing shareholders as judge Zacaroli reminded you in July 2021, and it is with keen interest from myself, the press and many shareholders (both large and small) that I await to hear your response on the above. Your sincerely Ps Mr Maris, your congeniality during your web presentation yesterday was irksome to say the least after delivering such an overly convoluted and damp deal to your shareholders, whilst the company still belongs to us please could I suggest you treat us with a modicum of respect?

[1nicko] 17/3/2023 08:31

Another long term holder,averaged down to .14 way under.HoweverI will hold on till the end.Not much difference now to the scam offer we will get.But who knows what the 11 hr might bring?

[lovewinshatelosses] 17/3/2023 08:15

This company has maintained a consistently untrustworthy set of directors for years now. Got rid of one lot of...at best incompetents, to be replaced with another group of...at best incompetents. Wondering whether to simply dump the rump holding I kept, or to hold it long enough to vote on this, IMO, sham deal. Any LTH's still here?

[evilblues] 17/3/2023 08:13

Exactly. CA obviously don't want to be aligned with hurricane in its current form and at face value seen to believe prax can do it better. Who can blame them. Anthony Maris and his bad gangsters will get their comeuppance though.

[kooba] 17/3/2023 08:05

It is indeed a complicated deal..that currently appears to work better for the buyer than the seller!Much more detail on Prax intentions and commitment to build a major producer through Hurricane..if they do/can and add significantly to the well 6 output then the 17.5% carry could be fully worth the value they ascribe to it...but some detail on how they go about it would add some colour. They have built a management team to build this side..but this is their first major move. There are other small orphan assets in the North Sea that could be bundled in reducing risk and taking advantage of the tax position. So it could all be a smashing idea...but perhaps explained rather better than the current fluff.With the right management it is difficult to see why Hurricane as a stand alone listed company couldn't be that vehicle ? But the current management failed to gain support or come up with any deals..could the Prax idea just be adopted by a new team in Hurricane??

[evilblues] 17/3/2023 07:52

Absolutely. We need details around governance of our DUC's in order to make an informed decision before vote. My 30 years experience broker looked at this deal yesterday and concurred that it is designed to snow blind pi's into submission. Never had he seen such a convoluted deal for a penny aim stock!

[kooba] 17/3/2023 07:46

What there is too little detail on and what is meant to comprise a large part of the maximum payout of 12.5p is how the DCUs are going to in any way pay that sum out.All the headlines are around this figure yet i find it difficult with information provided to see how this figure can be arrived at.The governance over the DCU's , communication with holders and their transferability are all questionable.If they can indeed get to pay out the stated maximum ..then it is a better and less risky outcome for shareholders than i can come up with from a wind up where there are a number of risks.But i think shareholders will need some convincing that they will get much after the ink is dry on the initial payments post scheme approval.

[kooba] 17/3/2023 07:38

Quite a few lawyers already involved!Pinsent Masons LLP is providing legal advice to Prax and the Prax Group. Dentons UK & Middle East LLP is providing legal advice to Hurricane. Ashurst LLP is providing legal advice to Stifel and Addleshaw Goddard LLP is providing legal advice to Gneiss.And Advisors for Hurricane..Stifel Nicolaus Europe Limited Financial Adviser, Nominated Adviser & Joint Corporate Broker to Hurricane Callum Stewart / Jason Grossman [phone] Investec Bank plc Joint Corporate Broker to Hurricane Chris Sim / Charles Craven / Jarrett Silver [phone] Vigo Consulting Public Relations Adviser to Hurricane Patrick d'Ancona / Ben Simons [e-mail] [phone] Stifel has an important role here as Nomad..the Nomad is the first line regulator for AIM companies and has a duty to shareholders in that role and its continuing obligations in its fiduciary duty and to act in shareholder interests.( very clean now there are not bondholders !)"Nominated Advisers (often referred to as Nomads) are corporate finance advisers approved by the London Stock Exchange to act in this capacity. To obtain approval as a Nominated Adviser, a firm must meet the eligibility criteria set out in the AIM Rules for Nominated Advisers.A Nominated Adviser has a responsibility to London Stock Exchange for advising and guiding a company on its responsibilities in relation to its admission to AIM as well as its continuing obligations once on market."

[guy_fawkes] 17/3/2023 07:32

HUR Investors have been "Played"

[evilblues] 17/3/2023 07:09

This deal needs a once over from a corporate lawyer.

[c2b] 17/3/2023 07:04

Same clarification needed for shares held in a SIPP. Also who polices the deferred consideration ? How do we get detailed accounts from a Private company? Surely Maris and advisers in breach of their statutory duty here ? Disgraceful series of confidentiality clauses in front of Maris statement- apparently we're not even supposed to divulge to others what that said !!!