Hurricane Energy Share Discussion Threads

[laserdisc] 21/12/2023 08:29

Bill re now outside of Isa and possible liability for Tax next financial year. Yes you are probably right the last payment on dcu's related to uplifts of oil prior to the 30th June

[soilderboy] 20/12/2023 20:36

I thought that would be the case, but it seems too easy.Thank you for responding so quickly, I appreciate it.

[bill hunt] 20/12/2023 19:44

Refer to Lasers comments. Keep the certificate safe every six months you should get a payment providing Prax keep producing. This should be for three years.

[soilderboy] 20/12/2023 19:23

Hi all.I have not looked in here for quite a while, so apologies if I have missed any relevant information that would help.I have today received my deferred consideration units 2. (Whatever that means).The units are 132468.I know this sounds naive, but can anyone tell me what I do with this and what it really means to me.I am not thick, but I did not thoroughly research what was happening. I wrote HUR off as i lost that much money and thought anything else may be a bonus.I really would appreciate any advice here.

[laserdisc] 20/12/2023 16:59

Seems so, has happenned on iii also, oh well possibly more tax to pay then on the s100 form


This is what i thought
ref to my post on 1st october
If Prax had paid the full 6.48p in June then it would of all gone into Isa at that time. The DCU,s are just a vehicle for paying out capital type of promissory note which falls due to Hur shareholders in retrospect till possibly 2026.

The actual DCU if purchased now cannot be held in an Isa because it does not trade on a exchange recognised by HMRC. So if you bought one today through Jenkins it could not be held in an Isa

The Capital related payments coming off from the Dcu's over the next 3 years relates to the original Capital for the takeover of Hur shares back in June 23, in effect its just like a delayed payment . The 6 monthly distributions of Capital should be paid into where you held the original Hur shares.

Thats as i see it but i have not seen any hmrc confirmation

[bill hunt] 20/12/2023 15:21

Certificate arrived from Barclays today. Prax was withdrawn from ISa in October but first payment was into ISA..now outside of isa and possible liability for Tax next financial year.

[laserdisc] 20/12/2023 13:53

Offshore Combustion Installation Permit Completed (Approved) 15th December 2023 only normal procedures but at least its been approved

[senseman] 16/12/2023 21:31

Oh no it's not..)
The last offload got well over $80 (please someone tell us what it got - Laser or kooba?)
HUR's figures based on $80 average were proven to be fairy tale.
There's 1-2 weeks left to go but even at $75 we're ahead of the game.
We are OK. Brent won't collapse.
Most interesting will be how production pans out next 3-4 months after recent long shutdown (for what reason?) when HUR's projections expect rapid production decrease but I don't. Will what they did during shutdown and pressure flow from surrounding sandstone oil bearing stabilise decrease and enable longer economic production?
Season's greetings to all

[simonanthrobus] 15/12/2023 20:43

$76 brent is a disaster

[laserdisc] 15/12/2023 19:50

Fat frank would be looking at weather at this time of year.1st weather window is for 24 hrs on mon 18th supply vessel is logged to unload 18th ,it has already left Aberdeen. Then tanker watch from 18th I still get daily e mails so should spot when allocated

[bountyhunter] 15/12/2023 15:51

Cheers laser, prax dcu's, I missed that having sold out when I should have held on!

[bountyhunter] 15/12/2023 13:39

What happened to this share (I used to hold but sold out when the dilution looked a dead cert!)?
I see that the chart flatlined.

[kooba] 15/12/2023 12:15

Prax are busy on expanding there downstream operations whilst still stressing the integrated nature of the business. Am sure investors with the DCU's would like to see more activity a the upstream end diversifying the income stream as was the stated intention when hurricane was acquired .https://uk.investing.com/news/stock-market-news/shell-agrees-to-sell-stake-in-germanys-schwedt-refinery-to-prax-group-3270831

[fat frank] 15/12/2023 11:18

Hey Laser - any sign of a tanker?!?!

[porrohmahnn] 02/11/2023 03:36

31st March and 30th September each year with the final payment being 31st March 2027, subject to the terms of the DCUs.

[janekane] 01/11/2023 18:17

So when’s the next payday dates 2023

[laserdisc] 25/10/2023 07:08

extract from Crystal amber accounts rns today
At the start of 2022, the Fund's holding of just over 575 million shares, representing 28.9 per cent of Hurricane Energy's issued share capital, had a carrying value of £23 million. In June 2023, following the acquisition of the entire issued share capital by Prax Exploration, the Fund received cash proceeds of £34.7 million. However, those proceeds are not the end of the Hurricane Energy journey. The offer included a deferred consideration element based on revenues from April 2023 until January 2026. Earlier this month, the Fund received additional proceeds of £1.8 million from these deferred consideration units. This equates to 2.1p a share to the Fund's shareholders. Should the deferred consideration units achieve their maximum payout of £37.3 million, equivalent to 41.6p per Crystal Amber share, the total potential consideration due relating to the sale of the Fund's shareholding in Hurricane Energy would be £72 million. This compares very favourably with, the January 2022 stock market valuation of £23 million.



Hurricane Energy is an example of the Investment Manager's determination to fight for Shareholders when necessary and the financial reward in doing so. Shareholders will recall the 2021 judgement from the High Court which prevented a 95% dilution for ordinary shareholders which the Hurricane Energy management had sought to push through. Whilst market participants had written off Hurricane Energy as little more than an embarrassment, the Investment Manager, with its long standing and deep technical knowledge, fought and succeeded in blocking the restructuring. Without the Company's intervention, Shareholders would have been deprived of any meaningful exposure to this improvement in the Company's fortunes.

[ctc1] 17/10/2023 09:36

okay many thanks

[ctc1] 16/10/2023 15:11

Yes I know thanks, but is that the value of each DCU or the quantum?

[laserdisc] 16/10/2023 13:39

CLASS 2 DCU'S trades From Jenkins site
VOLUMES
29/09/2023 64,077 1.77 GBX
29/09/2023 481,450 1.77 GBX
07/08/2023 1,183,294 1.77 GBX
03/08/2023 1,306,146 1.77 GBX
21/07/2023 1,007,585 1.77 GBX
11/07/2023 44,616 1.73 GBX
10/07/2023 22,750 1.65 GBX