Hurricane Energy Share Discussion Threads

[marmar80] 26/4/2023 09:23

Keep selling guys, Ophorst will take them all at this level

[fatfatfatfat] 25/4/2023 22:08

Done an email to the Court as well.

[fatfatfatfat] 25/4/2023 21:59

Thanks for the link from lse site. Done the email.

[soilderboy] 25/4/2023 20:51

Many thanks.!

[marmar80] 25/4/2023 19:42

Exactly what I am doing. Thanks

[senseman] 25/4/2023 19:41

soldier
google hurricane energy share chat then click on lse chat. there are 2 posts today at 18.10 & 18.16 explaining what to do, whichever way you want to vote

[senseman] 25/4/2023 19:36

senseman LSE 23 April 2023 23.59
DANGER OF USING FORWARD PRIVE CURVE AS OIL PRICE FORECAST
ACCURATE, TRUE P6 FIGURES
Cash at end March £130mill (HUR figure)
Costs $10mill pcm (HUR figure)
4 offloads due rest of 2023 - April, start/mid July, end Sept/start Oct, Dec
At $80: 80 x 92% = 73.6 x 540000 = $39.74 mill x 4 offloads = $159mill
Costs 9 months (Aprl-Dec) = 9x $10mill = $90mil
Cash increase April-Dec: $159 - $90 = $69 mill. Less $3mill FSP costs = $66mill
Current cash $130mill + $66mill = $196 mill
$196mill = £157.5mill (today's exchange rate)
$157.5 mill divided by 2 billion shares = 7.87p p.sh END DEC 2023 at ONLY $80 BRENT
At $85 Brent = $209mill = £168mill = 8.4p p.sh
At $90 Brent = $219mill = £176mill = 8.8p p.sh
NOTE - Above using HUR's OWN FIGURES CORRECTLY - position end Dec 2023

2024 - 4 offloads. Costs same (costs constant, production falling). NB - Likely actual 4.3 offloads, but figures for 4.
Brent $80: Add $39mill cash (£31.3mill) = 1.56p
Brent $90: Add $59mill Cash (£47.4mill) = 2.37p

[kooba] 25/4/2023 19:29

Shouldn't be an issue again speak to the broker explain that you want to retain the DCU's in your account and that it is resulting from a mandatory corporate action. Hopefully a matched bargain facility will be established that you will need to follow and if/when you decide to sell instruct broker to place limit order with matched bargain platform and hopefully there will be a buyer if your price is reasonable .Might be worth asking now..the outcome is far from certain but might be an idea to prepare in case as things could move quickly after 4th if approved.

[marmar80] 25/4/2023 19:02

Hmm. My DCUs will be held on my brokerage account per my understanding. Im not based in the UK and I don't have any ISA account.This is the reason I am a bit lost what's going to happen after Hur's delisting. Perhaps DCUs will appear on my account but then what if I decide to sell them in a year time? That's the question, how this is gonna work

[kooba] 25/4/2023 18:58

Well my only research was around whether they can be held in isa for a mate..my initiation reaction was no on them not being on a recognised stock exchange ..but i thought the mandatory action piece posted by another recently was interesting so everyone needs to check with their administrator for isa..sipps should be no problem i have a delisted one in there and there is no issue.What i did do was contact www.jpjenkins.com/ they are an established matched market platform ( though not a recognised exchange) and they were looking into it to create a facility.There would not be a two way price , ie bid and offer but there would be a willing buyer willing seller to try to find matches to facilitate two way business. I'm not positive they they will be doing it but expect someone like this to be. Worth looking at site and how it works most member firms should have no issue placing execution orders with them but might depend on each firm.

[marmar80] 25/4/2023 18:36

Sure perhaps I've got confused here.Do you know if say after a year or two you will be able to sell your DCUs and practically how they will be detached from your brokerage account in order to trade them via MBF?

[kooba] 25/4/2023 18:21

Oh i get you there are various levels ..the net referred to in the transaction is just net of BP costs , marketing etc it takes a small amount off the spot price received ..the price that is occasionally shared with shareholders! So if the market spot is $81or so we get $80 net. When i referred to net net , was referring to this and all other production costs and the 8% bluewater incentive..there are then G&A costs on top of that which brings us up to the $10m per month fixed cost the company is referring to in its forecast, the G&A is not included in the cash cost per barrel as stated.But the numbers worked were to reflect the difference between the net of BP charges i referred to as gross and the net left as profit after all costs were deducted. So again on the example the DCUs get more than 50% of the profit left after all costs. I am comfortable with my workings.

[soilderboy] 25/4/2023 18:19

Can anyone tell me how to vote no please.? Naive question but genuinely don't know.

[marmar80] 25/4/2023 18:09

I know, but I think you were saying 17.5% of gross revenue

[kooba] 25/4/2023 16:33

Not sure what this is trying to tell me this is all freely available information contained in the documents ..there is nothing new in there is there?

[marmar80] 25/4/2023 15:59

Kooba, it is about net revenue, which per my understanding is after costs hence the future returns from P6 well are pretty low. Below what the company responded.Thank you very much for your email and for your questions.  I have copied your questions below and provided answers to each: 1) What is the total to be received in 2023 from Prax and Hurricane. Is it 6.02p per share (5.19+0.83) or 6.29p per share. Both numbers are in your Presentation. The 6.02p per share is made up of the Transaction and Supplementary dividends (5.19p) plus the Cash Consideration (0.83p).  The additional 0.27p per share relates to an estimate of the first DCU payment that will be received covering 17.5% of any Net Revenue that is generated in the period 1 March – 30 June 2023.  This effectively relates to the revenue from the anticipated April 2023 lifting.  The additional 0.27p for this DCU payment is not guaranteed as it is dependent on three factors, being (i) the April lifting is not unexpectedly delayed beyond 30 June 2023; (ii) the price achieved for the lifting; and (iii) the actual amount of oil sold. 2) Please can you confirm when (month) in 2024, 2025 and 2026 Prax will pay cash to the DCU holders? The DCU Cash Amounts will be paid in March and September each year.  The first payment will be made in September 2023 (covering the initial period to 30 June 2023), and the last payment will be made in March 2027 (covering the 6 month period ending 31 December 2026).  The exception to this is if the cap on the DCU is reached earlier, in which case the DCU payments will cease when the cap is reached. 4) In simple terms, how I will be receiving cash from DCU, where that DCU will land, will this be added to my share trading account? I don't understand this part. Where the cash from the DCUs is received will depend on how the DCUs are held.  If you hold them privately then the cash will be paid directly to you (you will need to provide details in due course).  If they are held in your share trading account then the funds will come via this account.  If your shares are currently held in a share trading account, you will need to confirm with the trading account manager that there are no issues regarding the DCUs also being held once issued.  We have provided further details on this, in relation to ISAs and SIPPs, in the 18 April 2023 presentation referred to above.

[marmar80] 25/4/2023 15:50

If you lads would stop selling under 8p the Ophorst and others had to pay more for the shares which by the way it looks they badly need.

[wbodger] 25/4/2023 14:51

I did ask that and then Googled the number which ended in a 000 switchboard. I'll have another look.

Scaleyman: landline. By choice, and I may have asked to be phoned back about something.

[kooba] 25/4/2023 14:43

Prax announces that it has now received a letter of intent from Ophorst Van Marwijk Kooy Vermogensbeheer N.V. ("OVMK") in support of the Acquisition in respect 41,600,000 Hurricane Shares.Following this, Prax has received irrevocable undertakings or a letter of intent in support of the Acquisition from Hurricane Shareholders representing, in aggregate, 47 per cent of Hurricane's issued share capital.The mountain gets a little bit bigger.

[kooba] 25/4/2023 14:09

I find it very strange that anyone can access your details from your interactive investor account. The shares should be held in a block in nominees and only have sub designations for IA internal use but there should be no direct reference to their underlying client ( beneficial owner) available externally or through the registrar.That is odd...I would raise it with them. If anyone gets a call on this ask who they are calling from.

[wbodger] 25/4/2023 13:54

#405 ...Contacts? No idea. Yes to whether I use a nominee account, which is with Interactive Investor. They (now Aberdeen) have installed an AP which may have a Setting I wasn't aware of (not the first time it's happened).

[wbodger] 25/4/2023 13:13

My mistake. Should have noticed the time.