Hurricane Energy Share Discussion Threads

[fandagle] 10/7/2023 17:28

Heard some really good things about the new Gas reclamation kit on the AM, if this works then skies the limit here, nice to see...

[marmar80] 10/7/2023 16:29

Can't trade DCUs if you don't have UK address as it seems.

[rahosi] 10/7/2023 07:49

DCU's. Problem is without an ADVFN listing, I can't record the capital values or, more importantly, the future 'dividends'.

I use my ADVFN A/c as my convenient data source for my Tax Return. I suppose I could post them against my HUR share entries, but a bit messy.

[laserdisc] 10/7/2023 07:39

only ref to price i have is at The firm does not have access to SETS, SETSmm Brokers have to phone them

[rahosi] 10/7/2023 07:06

Has anyone managed to find an ADVFN listing for the DCU's?

I have fruitlessly tried searching for

BQS9215 PRAX EXPLORATION A DEFERRED CONSIDERATION UNIT

[soilderboy] 10/7/2023 06:33

All three payments made by Barclays now. FWIW

[laserdisc] 10/7/2023 05:53

your welcome latest i have due LANCASTER OIL FIELD today
ETA: Jul 10, 15:00 (in 9 hours) ALTERA THULE.. 10m draft

This is 1st lift under DCU allocation ie an entitlement for DCU Holders to receive 17.5% of all future Net Revenues earned by the Hurricane Group, from 1 March 2023 until 31 December 2026, including from both the Lancaster Field and from any acquisition made by Prax via Hurricane, capped at a total of 6.48 pence per DCU

onward journey for the Lancaster oil is Rotterdam on Friday

Going forward my est is next uplift around 1st October but take into account we have the 3Q23 allocation for the maintenance

estimates of DCU payments $80 oil 17.5% revenue if p6 well continues
After sale date we will get 17.50% net revenue from P6 well:
2023 - 0.27p in September
2024 - 1.21p split in two
2025 - 1.13p split in two
2026 - 0.35p split in two

Lets hope prax actually buy further producing assets so the tax losses can be fully utilised if that happens we could well see the DCU'S PAYING THE FULL CAPPED

[ottoman1453] 09/7/2023 18:10

Thank you Laserdisc.

[laserdisc] 09/7/2023 16:47

DCU holders AM ripe for an offload AM looking low should know tomorrow my est daily producing circa 7250 presently watching tanker @scapa flow which could get the job

[super95] 02/7/2023 03:07

marmar80
I received the dividend element totalling 5.19p only. I am with Halifax Share Dealing.
No I cannot be 100% sure but so far after 5 weeks I still have both the sale proceeds and the dividend in my account. Apparently Crest insist that the dividend is due which suggests that HUR, and or Prax have made a balls up.

[marmar80] 30/6/2023 22:09

Well done. Will you get also 0.83p dovi and DCUs?What trading platform do you use and were you 100% sure this will end up this way ?

[laserdisc] 29/6/2023 14:32

should be another offload next week by my reckoning a few days late as could be increasing reserve storage tanks , latest is for week of 10thJuly supply vessel grampian sovereign now enroute with chems i

[bocase] 29/6/2023 13:46

As regards the additional income, the way I read the rules is that if you are retired for example and a basic rate tax payer then the dividend will only be taxed at 8.75%.

IG have set the base cost or nominal price for the DCU's at zero but I don't have to worry about CGT at the moment I am afraid. It has not been a good year or two.

[laserdisc] 29/6/2023 13:23

agree if shares were in your trading account then goIng to be taxed as additional income . Dividends from HUR shares in ISA will not be taxed . i have made provision that all the DCU'S received will be liable to CGT at this point in time with nominal price @ 1.77p

[bocase] 29/6/2023 10:47

Oops - Back to the research

So what we have received for the shares is going to be taxed as additional income.

What a con!!

[bocase] 29/6/2023 10:07

Further to my post 37704 above, I have been doing some research and fortunately if you have held the HUR shares for more than 60 days prior to the ex div date, the dividend we have received will be classed as 'qualified dividends' and are not taxed as income but as capital gains or losses. That is a big relief!!I did not fancy a tax bill on an additional £20k of taxable income.

see below:

Dividends are separated into two classes by the IRS, ordinary and qualified. A dividend is considered to be qualified if you have held a stock for more than 60 days in the 121-day period that began 60 days before the ex-dividend date.
2
It is an ordinary dividend if you purchase it after the ex-dividend date.

[bocase] 29/6/2023 09:59

IG Markets have made full payment of the 6.02p within the last house and removed HUR from the account and replaced it with the same number of Prax at zero cost. Presumably on 30th September the first payment will appear as a credit against it.

[bocase] 29/6/2023 09:40

I am still concerned that the 6.02p (except for the 0.83p cash payment) is being called dividend and will appear as such on the consolidated tax statement after the year end leading to it being taxed as dividend income, hence we will receive substantial less than the 6.02p.

Any thoughts on that?

[ifaze] 28/6/2023 14:02

What is a Normal ex div date. They vary and it isn't as if Huricane has a track record of paying them!
By definition, there has to have been an ex div date - otherwise how can it be decided who actually gets a dividend.

[marmar80] 28/6/2023 12:50

Ex divi was 6/06 for 2 dividends from Hur

[ifaze] 28/6/2023 11:44

Seems to be ex div date was 8th June