Hurricane Energy Share Discussion Threads

[kooba] 21/3/2023 19:56

Well no one made you did they? Yet you couldn't help yourself could you !

[kooba] 21/3/2023 19:52

Salvaging my reputation ! Ha ha ha classic..you have just exposed yourself as being paranoid lunatic...so well done you, i think many already knew that to be fair.You repost all my stuff on LSE and some on there are referring to me as charlatan and you wonder why i went over to have a word..then you start dissing me as knowing nothing about the court case..you really are nuts.You and SheepShagger cut from the same cloth.

[evilblues] 21/3/2023 19:51

Without wishing to particularly interject kooba, you might also ask yourself the same question with the amount of time you spend on here ;)

[kooba] 21/3/2023 19:45

Do you have other hobbies?

[sensemun] 21/3/2023 19:00

Know all

Big head

Forum pest

Nutter

[senseman] 21/3/2023 18:55

kooba
'doth protesteth too much'
you were caught with your knickers down and are now rushing around trying to salvage your ADVFN reputation
i did courteously and gently warn you not to take the p isss out of the LSE forum

[kooba] 21/3/2023 18:54

So says the multi avatared buffoon who said they were inside on about 4 different bidders all wrong and promised 14p 12.5p cash bids over and over...who's the W ??

[kooba] 21/3/2023 18:37

I got it..it was this was it?'Yep i know all about it as i said..both hearings everything thanks. I don't want to fall out senseman but you have no idea of my involvement."From that just basically trying to shut him up because he thinks he is the only one that is allowed an opinion on the high court case..i watched him ..didnt bloody help at all zzzzHe goes to this"IF you want a 2 week debate on here i will be happy to oblige you - i do not like secret agents operating under hidden cover - i will ensure we will not fall out but i will ensure ensure you will tire and retreat first"Wtf! I think i keep having to correct his takes and his maths so casting me as a spy ..te he he is trying to discredit my opinion.Well good luck there ..bloody lunatic.

[senseman] 21/3/2023 18:23

kooba
'doth protestest too much'
i will when time allows post the segment wherein kooba amidst angst inadvertently dropped his knickers and revealed he is operating on behalf of an undeclared significant entity
it explains why he has last few days posted value and other opinions wholly unaligned with intelligent thought
if anyone does want a laugh - pop over to lse hur forum and read postings say from midday onwards

[kooba] 21/3/2023 18:10

I rather think senseman has finally gone stark staring mad...over on LSE'With respect to Kooba who did not involve himself at all in any court events or campaigns and thus whose knowledge concerning such is limited and flawed, there thus exists an ethical obligation of which he is unaware, but should be before opining re this issue."From nonsenseMy response"I have far more knowledge of the whole restructuring and high court goings on than you might imagine and did watch all the court appearances ..i still believe that disgruntled pi's alone would not have in any way succeeded . So that remains my informed opinion."From that he has me down as being a secret agent for some unknown party..completely lost the plot ..always thought he was a sandwich short of a picnic ..in my view.

[kooba] 21/3/2023 18:07

I rather think senseman has finally gone stark staring mad.'With respect to Kooba who did not involve himself at all in any court events or campaigns and thus whose knowledge concerning such is limited and flawed, there thus exists an ethical obligation of which he is unaware, but should be before opining re this issue."From nonsenseMy response"I have far more knowledge of the whole restructuring and high court goings on than you might imagine and did watch all the court appearances ..i still believe that disgruntled pi's alone would not have in any way succeeded . So that remains my informed opinion."From that he has me down as being a secret agent for some unknown party..completely lost the plot ..though was always a sandwich short in my view..!

[sensemun] 21/3/2023 17:03

Had an email off RB today. He is 100% sure shareholders will get the full 12.5p. Prax are close to completing a couple of deals which will add the production required to get to the 12.5p figure by mid 2026.

[orchestralis] 21/3/2023 17:01

Good summary

[kooba] 21/3/2023 16:15

Seems to me close to 9p if the oil price around $80 and production runs to economic limit just with well6..variability around production and oil price. Still needs to have additional assets put in to get any confidence in achieving 12.5p imo. ..so that is crucial . What are Prax plans , timescales etc..they talk of becoming a sizeable producer and as I mentioned they rather need to move on something soon to secure the tax position.Maybe they already have a target..maybe some have a better idea of their plans and that has influenced their approach.Think we need a presentation from the actual e&p team that will run Hurricane to better understand the outlook.

[wbodger] 21/3/2023 15:21

It would be a friendly negotiation whatever happens, both sides limiting their costs and being pretty open about their situations.

I'm going to have a good long look at what Prax are actually offering in their 12.5 pence best case (the headline of various articles citing £250 million).

Most companies buying with paper offer voting shares. There's always an element of uncertainty. This one has uncertainty about how likely are we to get 8 pence, 10 pence or 12.5 pence in the end?

Good luck,all.

[kooba] 21/3/2023 14:55

All true ..but I think the mothballed have been available for years so maybe not the right spec ??

[wbodger] 21/3/2023 14:42

They would have to have a client lined up and ready to pay reconditioning to even think of giving notice, and they have other vessels mothballed.

Thanks for the info on tax credits, btw.

[kooba] 21/3/2023 14:40

Missed your point on HMRC..the current deal is fine and acquisitions into a operating production company of further production should be fine ..its if well 6 stops production that there could be issues in using the tax credits i understand. No tax expert ..hate the stuff.

[kooba] 21/3/2023 14:37

Well if they give notice and take it away in 6 months we get the 18$m back out of escrow..hurrah..but the well gets shut down as you would not be able to source an alternative vessel without a huge refit at great cost making it uneconomic..so booo. One presumes Prax have spoken to BW and have some comfort they are not off in the near term..but i guess the company still has just a six notice period..so if BW do get an offer they cant refuse then i suppose they take it. Their incentive share on Well 6 has fallen a fair bit on production declines and oil price so its not the non brainer it once was i imagine.

[wbodger] 21/3/2023 14:32

Yes: "it is highly likely they could not be used if the tax position was seen as the sole reason for a transaction". The guys at the Revenue weren't born yesterday.

Come on. That looks pretty dodgy even to me!

[wbodger] 21/3/2023 14:27

On BW contract:
If BW takes the Aoka Mizu away the contingency reserve for Hurricane having to give 6 months notice on the lease becomes irrelevant. It would mean HUR not having to worry about an early-termination charge. The possible early termination penalty is a known unknown, and should already be in the balance sheet being rolled over as Lancaster continues to produce oil. Of course it is more likely to need addressing as rate of production declines.

BW are making numerous changes to their operations and I get the feeling they have more vessels laid up that they don't have work for. Shifting emphasis to wind-farms etc. Moving Aoka Mizu would require reconditioning. I don't think it's a big risk that they will terminate the contract.

[kooba] 21/3/2023 14:26

Prax would definitely not close well6 early...if well 6 discontinues production it would be a real struggle to be able to use the tax credits without other operations running and they could be lost as there needs to be seen to be a continuation of operations...it is a big incentive in fact to Prax to make acquisitions in the near term to ensure that continuity is seen and the tax credits secured. That also would favour DCUs as if they had other production the DCUs would still get a share of any Hurricane acquired production,irrespective of whether well6 had subsequently closed.The same applies to standalone tax..some have suggested we run to exhaustion and then sell the company for the tax credits..it is highly likely they could not be used if the tax position was seen as the sole reason for a transaction. There are no guarantees around the transferability of tax losses.