Hurricane Energy Share Discussion Threads

[marmar80] 22/3/2023 09:54

Kooba, in your opinion, why the board did not reject 0.83p offer?Do you think this is a fair price considering for an access to massive tax losses, around 14p per share and a cash genetrating well?

[kooba] 22/3/2023 09:39

Like a log thanks! A glass of Malbec and an episode of Gold sent me off nicely.

[evilblues] 22/3/2023 09:22

Did you manage to get any sleep..?

[kooba] 22/3/2023 09:14

If anyone wants to check the support on posts yesterday on LSE they are in my favour. Senseman does not speak for that board , far from it. The trouble started with senseman belittling me..it's his way but is largely disrespectful especially when you do not agree with his made up numbers.Folks on this board might have questioned my take but largely in a constructive way to better understand my thinking..apart from senseman..who just dismissed my entirely justified costs figures without any basis..the costs are at least $10m a month..if you don't like it then there's nothing you can do about it.I try to be constructive and have had a low expectation on the chances of a higher up front cash bid for months and i genuinely believe the deal offers more upside than standalone with lower risk. I could ignore hurricanes estimates and CAs estimates and just make some higher numbers up , but that is not my way. I have put out my own numbers since FSP started and explained them ...and they happen to be close to the numbers published by CA and CRS ..amazing what realistic research gets you.I have tried to better explain the alternatives to the deal and the potential upside having read the available information.If no one appreciates that as senseman makes out then fine i shall keep my council to myself.I stand by all posts...and i can assure everyone sane i do not work for a foreign power or the like..and have posted for the past 3 years and back to the ipo on this counter as a independent shareholder. If folks don't like what i say because it doesn't suit their overly optimistic narrative ...thats tough.

[flyinghorse1] 22/3/2023 09:11

Most people holing the shares will evaluate the deal on the basis of there average cost, and CA state they averaged down to 6.7p, and have taken money off the table over time.
Many PI’s, myself included are likely to be at a much larger average share price hence lack of support/ anger at the deal.
I did look at the Prax e&p team and Iain McKendrick is ex Ithaca so knows the North Sea well.
It’s the likelihood / tradeability of the Prax DCU and magnitude of payout that’s uncertain.
I don’t see a lot of choice here and is the deal not effectively done with most PI’s being held in checkmate due to the irrevocable guarantees made by major shareholders?
FH

[senseman] 22/3/2023 08:51

gentlemen
SHs en masse (save kooba) for months have argued that HUR BoD's well 6 stand alone end of life circa 8p cash figure was false
Now CA (wanting out) suddenly agree HUR's figure (quelle surprise)
kooba agrees the BoDs figure (consistent - usually has done)

Now - if CA & kooka are correct - it means HUR BoD all this time have been correct - and you all, bar kooba, wrong. So are the BoDs figures right or wrong? (remember they always have been HUGELY wrong in past). You cannot have it both ways.

kooba outstayed his LSE welcome yesterday not because he held contrary view to most (i have always told the forum his cash figure views are the contrary view , differ from mine but should be heard). he forgot manners & started belittling the average poster and twisting their view to suit his answers. when he started on me i gently warned to desist, he continued. so we had handbags.

i remind you that most here were the past few days casting scorn upon & openly deriding kooba's figures & kooba himself.

kooba - this morning you have on here grossly misrepresented yesterday's lse events - shame on you. yesterday you resorted to arrogant bully tactics because posters did not roll over and agree your view - nothing more, nothing less. the only peeps supporting your actions yest were ASI and the other 1-2 usual other LSE suspects

we all have bad days and you simply just had one. i don't bear grudges so happy and much prefer to leave it at that. but fair warning that if you continue to wrongly attack me as you have done this morning, i will not remain silent. i hope and expect things to be left at that

[steve73] 22/3/2023 08:17

The AM was built during 98-99 (although not fitted out until much later) and originally deployed on Ettrick during 2006-8.

So it's now over 20 years old (despite being in operation for much less than this) so it's an old lady by now.

It's unlikely that anyone else would be prepared to take it on except for a relatively short duration contract, and that only if the current configuration were suitable with no further (or very limited) modification.

I have no worries that the AM might become unavailable for HUR/Prax's use on Lancaster until field CoP is reached.

That said, I'm not too happy with the proposed "deal"... too much risk of the "future" payments not being made IMHO..

[marmar80] 22/3/2023 08:14

Good morning. Can you please read and comment on the below? Prax is not offering 12.5p, not offering 9p.The transfer of ownership is in 85% covered by Hurricane (5.19p to be paid to shareholders from Hurricane's own funds).Prax will pay ONLY 0.83p and promises 17.50% of future net revenues capped at 6.48p.Why is this capped at this, not at higher level is a result of poor negotiations on our side in my opinion.Prax will get their 0.83p stake back from Hurricane's account if Hurricane will not return ALL unrestricted funds to shareholders or simply Prax will get it back from the next offload.Prax will earn 82.50% of future net revenues (100%-17.50%), will keep the license, all Hurricane's documents, expertise, contacts, 300m GBP of tax losses, restricted funds, cash generating well, rights to a listed company. All for 0.83p per share.All shareholders have a right and even onus to ask Prax for 3-4p upfront pay as this deal can be extremely important for their own development and lucrative as well. We are not under pressure to get rid of it.Having this in mind, do you still think that Prax's offer is sufficient?

[tradoil] 22/3/2023 07:48

Kooba , keep up the forensic interrogation. It's helpful . Senseman , don't lose the passion to hold people to account where there is an argument to do so .Right can we all move on . This share is boring enough as it is.

[ctc1] 22/3/2023 07:17

You have been far too generous of you knowledge and expertise Kooba. You are a true gentleman and deserve better.

[kooba] 22/3/2023 05:24

Deranged..and wouldn't know the truth if it smacked you in the face. You think you own the LSE board yet it appears no one supports you. Miraculously my numbers are close to CA and the boards , well what a surprise.. I know how to do maths and not make stuff up using incorrect figures..i explained my workings ..and actually came up with slightly more than them.If you invent revenues and costs you don't get the real picture.You live in a fantasy land and have always estimated cash generation too high..i have been far closer. So now I'm more accurate again to where others call it you come up with more conspiracies ..just nonsense. You are not worth correcting you don't accept reality.

[marmar80] 21/3/2023 23:57

Kooba, Wbodger.
Prax is not offering 12.5p, not offering 9p.

The transfer of ownership is in 85% covered by Hurricane (5.19p to be paid to shareholders from Hurricane's own funds).

Prax will pay ONLY 0.83p and promises 17.50% of future net revenues capped at 6.48p.
Why is this capped at this, not at higher level is a result of poor negotiations on our side in my opinion.
Prax will get their 0.83p stake back from Hurricane's account if Hurricane will not return ALL unrestricted funds to shareholders or simply Prax will get it back from the next offload.

Prax will earn 82.50% of future net revenues (100%-17.50%), will keep the license, all Hurricane's documents, expertise, contacts, 300m GBP of tax losses, restricted funds, cash generating well, rights to a listed company. All for 0.83p per share.

All shareholders have a right and even onus to ask Prax for 3-4p upfront pay as this deal can be extremely important for their own development and lucrative as well. We are not under pressure to get rid of it.

[senseman] 21/3/2023 23:42

kooba
now the dust has settled, perhaps you would now be kind enough to tell us which significant interest group you represent?

[kooba] 21/3/2023 22:35

Could another bidder still come in with a better offer and get the board to recommend it instead and send Prax packing? YesActually no. Dyor.

[kooba] 21/3/2023 21:59

Get a new iD this is bust like the last dozen.

[sensemun] 21/3/2023 21:47

You are the biggest conman on here and LSE Kooba

Get a life

[sensemun] 21/3/2023 21:07

scammer Kooba likes the deal.

He is the only one.

A lone nutter

[surfer2] 21/3/2023 20:51

I have a small shareholding in this. I was expecting bids with a min of 12p moving to around 14 or 15p given that there is no debt , cash at 6 to 7p and supposedly 6p of tax losses. Who wants to wait 3 yrs for a few pence that will be subject to inflation. I'd rather the additional 6p in my pocket now rather than tiny dividends every 6 months ( which are taxable for many of us )

Surely 150 million or so in cash would be enough to buy some additional production ?

Or go a long way in a merger with another uk listed producer ?

Parkmead , Deltic , Jersey Oil for example ?

The deal looks very dissapointing at face value. Never seen a takeover proposal like this . It's 50% of the what's left of Hur plus a promissory note ffs

[senseman] 21/3/2023 20:28

koob
we all lose it occasionally
this forum lost it with you when you kept opining HUR's stand alone well 6 wind up cash maximum circa 8p (ie same as HUR & miraculously now CA)
you visited (still there) lse forum, and tried to infect said forum with same drivel.
you ignored gentle lse hints to desist
suffused with angst, you let slip you represented a significant interest party
in short, you dropped your knickers to reveal the real you
each step of the lse way i advised - wise is to stop.
but you ignored and doubled down
currently you have joined forces with lse poison ASI whom you have spent weeks even months (as have others) deriding on here for being the owner of multiple disruptive aliases
yet again - i urge best advice when one has dropped one's knickers in error is - keep your gob shut for a while
and naturally- it has been made crystal clear on LSE that you have forfeited all respect and outstayed your welcome there