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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Hurricane Energy Plc | HUR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 7.79 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 7.79 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 03/4/2024 11:11 by ifaze Still nothing on Barclays' Smart(I think not) Investor accounts. |
Posted at 28/3/2024 11:10 by bionictroller SensemanYou are a bitter investor who clearly has lost significant sums on HUR. I am delighted by the Prax deal and I expect the full 12.5p payout which will be a 100% return for me and many others. |
Posted at 30/1/2024 14:39 by simonanthrobus senseman is detested by many investors and who lies about possible Prax deals |
Posted at 15/12/2023 12:15 by kooba 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.investin |
Posted at 28/9/2023 16:03 by porrohmahnn I didn't receive a reply from Prax corporate so I did some more research and sent this message to the DCU Representative( dcu.representative@p "I am a Prax DCU holder. According to the Prax DCU website; "The DCU Cash Amount for the initial period from 1 March 2023 to 30 June 2023 will be paid by 30 September 2023." "The calculation of each deferred payment will be published on the Prax website www.prax.com/dcu/ for all interested parties to see." Normally, amounts payable to investors are announced in advance. It's now 28th September and, as far as I know, DCU holders have not yet been informed (via the Prax DCU website or by other means) of the calculation, the DCU Cash Amount payable, the DCU equivalent of the ex-dividend date or the expected payment date. Please can you update me regarding these matters. Kind regards," This is the very prompt reply I received; "That is correct a payment is due shortly and you can expect the press release and payment to be made by 30 September 2023. Additionally, if you would like to receive a notification of releases from Prax you can register at the bottom of the page of this link: hxxps://www.prax.com Best wishes" There are a lot of Q&As about DCUs here; hxxps://www.prax.com This guidance includes the following statement; "DCU Holders are able to trade on JP Jenkins daily during London market hours, save for during certain specified periods to be announced by Prax in due course." Although the reply from the DCU Representative does not address my question regarding the DCU equivalent of an ex-dividend date, maybe the delayed announcement is to ensure that any period between the calculation, announcement and payment of a DCU Cash Amount, during which DCUs potentially cannot be traded, is kept to a minimum? |
Posted at 19/9/2023 12:52 by jaknife laserdisc,Those rules only apply to US investors: I would have thought that most investors in HUR are UK tax resident? Page 79 of the Scheme Document sets out the UK tax treatment of the DCUs and can be found here: The taxation treatment of payments under the DCUs is not straightforward and depends on whether holders converted their DCUs into Loan Notes. JakNife |
Posted at 06/6/2023 16:26 by senseman courtesy of dflynch LSEURGENT – 7 JUNE SANCTION HEARING – EMAILS TO COURT Today 13:59 Well tomorrow is the final day in this long sorry sad saga in which many investors who supported the company in its attempt to produce a new source of secure energy for the UK are finlly scammed, and kicked in the face for this support. They have been badly served by the various members of the BoD, particularly most recently. It was never necessary to put HURR up for sale! If Crystal Amber wanted out then fine – they could have sold their shares on the open market, as did many small investors who could not risk more awaiting the rewards of their investment. Rewards that are well in sight – why else would PRAX scam investors with their ludicrous below value offer, if they could not also see them. What is the biggest obscenity in the whole matter is the thousands of small investors in HURR who were disenfranchised from participating in HURR’s future, at the crucial Court meeting on the 4th of May. Many will have thought that they were voting against the PRAX Scheme. They were not, their voting efforts were ignored, because their shares were held in nominee accounts (SIPP, ISA, Trading) by their brokers. Any protesting voices went unheard! I have emailed the Court to acquaint the Judge with my concerns as to what is happening and requesting, that like their colleague Mr Justice Zacaroli, that the Court do not sanction this despicable unfair Scheme. A Scheme that is only before the Court because of the unjust way it grossly disadvantaged investors; investors who went unheard at the decisive Court meeting in May. |
Posted at 26/4/2023 23:57 by senseman Courtesy of LSE's DF (dflynch) original postCRUCIAL - Vote your HUR shares today It is now getting critical that Investors, if they have not already done so, cast their votes for the Court Meeting and the Extraordinary General Meeting taking place on Thursday 4th May. At the Court meeting individual Investors on the HURR company register at 6pm on Monday 1st of May can cast their one vote. Beneficial owners of HURR shares, that is Investors holding HURR shares in a Broker’s “Nominee” However, and of particular importance to these disenfranchised Investors is the vote at the Extraordinary General Meeting, which follows the Court meeting. At this meeting PRAX and the HURR Board of Directors require 75% of the votes cast at that meeting to be in favour of the Scheme. That is not 75% of HURR shares on the company register; it is 75% of the shares voted at the meeting. This is where the disenfranchised beneficial owners of HURR shares can influence events, as they can vote all their HURR shares held in Brokers “nominee accounts. Your vote will count and influence the result. Each individual Broker will have a different method of recording votes cast by the beneficial owners of HURR shares. These usually are by either “secure” message, a telephone call, or a corporate actions “voting” function on the Broker’s website. For example, Interactive’s clients use a corporate action’s voting function – very easy and efficient. It would be helpful if posters could post the method used by their brokers so that others may benefit and vote. In order to process these votes Brokers usually close the voting days before the meeting so it is critically essential to CAST VOTES TODAY! |
Posted at 17/10/2022 19:06 by mirabeau What is a Reverse Merger?A reverse merger occurs when a smaller, private company acquires a larger, publicly listed company. Also known as a reverse takeover, the “reverse&rdquo Why Would a Company Undergo a Reverse Merger? The standard path for a private company going public typically involves an initial public offering (IPO), which is often a complicated and timely endeavor. The IPO procedure usually involves hiring an investment bank to underwrite the financing and issue shares, along with an extensive due diligence process, a large amount of paperwork, and regulatory reviews. Unfavorable market conditions can also affect the timing of the IPO. The reverse merger, however, offers a company a faster way to go public while bypassing many of the time-consuming and complex steps of the traditional IPO. It is common for the process to involve acquiring a small-scale public company with a relatively low level of operations. Although the public company remains intact after being acquired, the owners of the (formerly) private company transition to being the controlling shareholders. This is generally followed by a reorganization of the company’s assets and operations and a new board of directors. The Reverse Merger Process The first phase of a reverse merger involves a mass purchase of the public company’s shares by the private company—at least 51% or more. The public company effectively acts as a shell company by ceding these shares to the private one. The deal is completed when the private company trades shares with the public shell in exchange for the shell’s stock, making the acquiring company a public one. There is no immediate capital raised during this time, which helps speed up the process of being publicly listed. This is the opposite of a traditional IPO, making reverse mergers suitable only for companies that are not in need of cash in the short term. Possible Advantages of a Reverse Merger Cheaper Process – Reverse mergers bypass the need for the private company to raise the significant capital needed to go public with an IPO. Timing – Compared to conventional IPOs, which can take several months to complete, reverse mergers can be finalized in just a few weeks. Less Risk – Going through the traditional IPO process does not automatically ensure that a company can go public. There are a number of factors that can hinder or cancel the process, including adverse market conditions. Taking the reverse merger route can minimize the risk of a canceled IPO and help avoid the prospect of wasting significant financial resources and time. Public Company Benefits – The end goal of a reverse merger is for a private company to become publicly listed, opening up potential benefits like easier access to capital, greater liquidity, faster growth through acquisitions, and retaining or attracting top industry talent. Potential Disadvantages of a Reverse Merger Potential Liabilities – Despite the simplified process compared to an IPO, a large amount of due diligence is required for reverse mergers. Both the private and public companies should thoroughly vet the motivations for the acquisition and investigate any pending liabilities, including possible litigation. In some cases, the public shell company may simply be looking for someone else to take over ownership of their looming issues—which may be severe. Dumping of Stocks – Investors of the public shell company may sell off large portions of their shares immediately following the merger’s completion, which can have a negative effect on the company’s value and stock price. This risk can be reduced by including clauses in the merger agreement that explicitly outline holding periods for the shell investors. Low Share Demand – The reverse merger process minimizes the market excitement and attention a conventional IPO typically receives after going public. Original investors may see little demand for their shares if the acquiring company is viewed as lacking in terms of finances and operations. Difficulties with Regulations and Compliance – Managers of the formerly private company may be inexperienced with the burdensome regulatory and compliance requirements that accompany being a public company. In a worst-case scenario, this can lead to underperformance and stagnation that deters new investors. |
Posted at 07/10/2021 19:38 by mirabeau Hedge funds cash in as green investors dump energy stocksBig institutions’ exit from oil and gas companies leaves hedge funds as among the only buyers Crispin Odey, founder of London-based Odey Asset Management, has been building a position in oil and gas stocks this year © FT montage; Bloomberg Hedge funds have been quietly scooping up the shares of unloved oil and gas companies discarded by environmentally minded institutional investors, and are now reaping big gains as energy prices surge. Hedge fund managers in the US and UK have been betting that the eagerness of many big institutions to be seen to embrace environmental, social and governance (ESG) standards means they are selling wholesale out of fossil fuel stocks, even though demand for some of these products remains high. “It’s such a great and easy idea,” Crispin Odey, founder of London-based Odey Asset Management, told the Financial Times. “They [big institutional investors] are all so keen to get rid of oil assets, they’re leaving fantastic returns on the table,” added Odey, whose European fund is up more than 100 per cent so far this year. The company has been building its position in oil and gas stocks this year and has sizeable stakes in groups including Norwegian oil company Aker BP, whose shares are up about 43 per cent, and Asia-Pacific-focused producer Jadestone Energy, up 44 per cent. Odey said he had also been providing financing for unlisted vehicles that are being set up by commodities companies specifically to buy up unwanted assets being sold off by the oil majors. The move away from fossil fuels by big institutions has often left hedge funds, which face fewer pressures to conform to ESG norms than mainstream fund companies, among the only buyers. This can present attractive opportunities, although it can leave them exposed to falls in energy prices or further selling by big investors. Alongside Odey’s fund, Goldman Sachs’s prime brokerage division, which provides a range of services such as stock lending and execution, recently told clients that energy stocks had had their biggest net buying by hedge funds since late February, according to a note seen by the FT. “People don’t understand how much money you can make in things that people hate,” said Bison Interests’ managing partner and co-founder Josh Young, who says his fund avoids the “dirtiest companies”. Bison Interests has profited from positions in companies including Canadian oil and gas group Baytex Energy Corp and US-based SandRidge Energy and is up 377 per cent this year before fees, according to a person familiar with the matter, ranking it as one of the world’s top-performing funds. “Many of these companies are trading at very low cash flow multiples and at very big discounts to the replacement value of their assets,” said Young. “More people are driving gas-powered cars and scooters than ever.” The pressure on institutional investors from climate lobby groups to stop funding fossil fuel companies has intensified markedly in recent years. Pension funds, charities, churches and other faith groups and universities, which may own some stocks either directly or through funds they hold, are among those that have committed to selling out of such companies as a way of combating climate change and shifting investment towards more renewable forms of energy. Climate activism group DivestInvest, which pushes investors to make no new investments in the top 200 oil, gas and coal companies and to sell any such positions within three to five years, says it has received pledges from more than 1,300 organisations managing $14.5tn in assets. The ESG investing industry is dangerous Hedge fund managers buying up these stocks argue that investment in areas such as oil and gas production is still badly needed, as highlighted by recent moves in the energy market. Oil prices hit their highest level in at least three years this week, while UK gas prices have more than quadrupled. Companies often use their revenues from oil and gas to fund a transition to cleaner energy, say hedge fund managers, and halting investment into these stocks hurts this process. “The ESG guys are causing terrible problems,” said Odey. “They’re ensuring price rises are not met by supply.” Another European-based manager said moves by big investors to stop backing fossil fuel companies may be “counterproduc Renaud Saleur, a former trader at Soros Fund Management and Jabre Capital, who now heads Anaconda Invest, said the effect was particularly striking in Europe, where investors had embraced ESG concerns to a greater extent than in the US. “In Europe, people have been more keen to blackwash the oil and gas industry. It’s mere stupidity, this [sector] produces money to fund the energy transition,” he said, adding that these investors were also pushing stocks in sectors such as electric vehicles and hydrogen to “unsustainable levels”. He has backed companies including ShaMaran Petroleum and Australian energy group Santos. Energy is the world’s indispensable business and Energy Source is its newsletter. Every Tuesday and Thursday, direct to your inbox, Energy Source brings you essential news, forward-thinking analysis and insider intelligence. Sign up here. As hedge funds search for targets, Jadestone has attracted a number of other investors in addition to Odey including Tyrus Capital, which owns about 25 per cent, and Polar Capital. And hedge funds including Taconic and Kite Lake have this year gained control of Norwegian Energy Company (Noreco), a North Sea oil and gas producer whose shares collapsed by more than 99 per cent from their pre-financial crisis high, taking board seats. Noreco has benefited from buying Danish upstream assets from Shell, with the help of financing from hedge funds. Shares in Noreco, which also counts hedge fund Astaris Capital among its investors, have risen about 10 per cent this year. Smaller energy stocks, which hedge funds often favour, have benefited from buying cheap oil and gas assets from the oil majors, which face investor pressure to divest from fossil fuels. But there are signs that oil majors may be growing wary of such sales. Earlier this year Patrick Pouyanné, chief executive of Total, told the FT that selling assets to other producers that may be less mindful of ESG concerns was not a solution. “Even if BP, Total and Shell divest from oil and gas it does not change anything,” he said. |
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