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Share Name Share Symbol Market Type Share ISIN Share Description
Hurricane Energy Plc LSE:HUR London Ordinary Share GB00B580MF54 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.005 -0.6% 0.825 10,487,615 15:08:44
Bid Price Offer Price High Price Low Price Open Price
0.825 0.888 0.92 0.825 0.8295
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 170.28 -1.81 2.97 0.3 16
Last Trade Time Trade Type Trade Size Trade Price Currency
15:10:13 O 22,964 0.845 GBX

Hurricane Energy (HUR) Latest News

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Hurricane Energy Daily Update: Hurricane Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker HUR. The last closing price for Hurricane Energy was 0.83p.
Hurricane Energy Plc has a 4 week average price of 0.72p and a 12 week average price of 0.72p.
The 1 year high share price is 12.70p while the 1 year low share price is currently 0.72p.
There are currently 1,991,871,556 shares in issue and the average daily traded volume is 206,880,196 shares. The market capitalisation of Hurricane Energy Plc is £16,432,940.34.
cashisking76: The move for HUR was initiated from last September, hence the unexpected sudden resignation of Kerogen appointed HUR board representative, and now subsequently, we get this proposed scam long cooked by HUR BoD and Kerogen since September but with rising Brent prices and still ~15 months to go to CB maturity! So Kerogen/Chinese want to takeover HUR cash, assets, licenses, unexplored acreage, huge tax credits,...etc. all for almost free, CA noticed this crooked inside job/bid and are now fighting it along with long suffering well cheated HUR PIs, DYOR.
leoneobull: Has NGMS been purchasing today? Remarkable to see the share price now with 0.1p promised as the dilution share price Congratulations to the HUR BID who have successfully under-promised and under-delivered....
porrohmahnn: If CA were the main buyer on Friday, they could have increased their shareholding to just short of 30%. This in an important threshhold that, because of takeover rules, they will not exceed without launching a formal takeover bid. The share price has dropped off sharply since then which tends to confirm my suspicion that it was CA buying on Friday. If I'm right, there will need to be an RNS tomorrow recording their increased shareholding and another is likely to follow on Thursday based on the huge number of shares that changed hands today. That will reveal who else was buying, unless it was just day traders and shorters having a field day. I wonder whether bondholders were buying up shares today in order to protect against a potential bid by CA? If CA mount a takeover bid, the costs would be minimal based on the current share price, although they would need to come up with a viable plan for the future. This might be nothing more than liquidation unless they can come up with a viable plan to continue the business as a going concern. Whichever way this goes, I can't see a good outcome for long term shareholders. I still believe there are considerable amounts of hydrocarbons in Hurricane's licence areas but the company doesn't have enough cash to determine / realise that potential or the ability to raise it in the current climate. I can't help thinking that the UK Government's insistence that Lincoln be plugged and abandoned in such an unprecedented short timescale and mandating that scarce cash be allocated to deep sub-vertical exploratory wells rather than further producers precipitated Hurricane's downfall by reducing free cash to levels that became unsustainable when the wells didn't produce as expected.
hiddendepths: It is certainly strange to say that the shares are massively overvalued at 0.75p but it seems abundantly clear that is the case! There still seem to be a few diehards who believe that shareholders will end up with over 50% of the shares after the bond conversion. The RNS was not ambiguous at all. I read it once and understood it immediately. Current shareholders will own only 5% between them. Crystal Amber may be spitting blood but I expect they'll be shafted along with everyone else. Some may remember that they were shafted once before, ahead of the dreadfully mishandled equity/bond raise. That was bad enough but this is far worse! The £50m freed by the bondholders represents a final throw of the dice for Hurricane. Unfortunately for current shareholders even if the roll comes in, they will not be the ones to benefit. It is hard to imagine an outcome where the shares will get back to the 2.5p level. I think it is very likely that there will be a consolidation of the shares - if I were advising the company I would suggest 1 for 100 to achieve a decent looking share price. It should also be borne in mind that most bond holders are allergic to equity! They are derivatives and fixed income specialists by and large. If they are forced to take some equity on board they will dump it as quickly as they possibly can, pretty much regardless of the price. I worked close to derivatives teams in the past and I can assure you this is what they do, or at least did back then. I agree with the suggestion some made earlier that Hurricane is likely to keep its listing for a while to allow the bondholders the chance to sell - and then go private, never to see the light of day again. The sooner the better, as far as I'm concerned. This company leaves a very nasty taste in the mouth!
adypauluk: Despite your views on Hurricane Energy, lots of people have lost life savings and there are questions that need to be answered. I wrote a letter to HUR`s chairman Steven McTiernan to try and find answers. Dear Steven, It has come to my attention looking at the facts, that Hurricane Energy board, could be involved in an AIM Scam. Firstly, I would like to ask you, why your company has ignored all communication with Amber Crystal, the company`s second largest shareholder? Why did you also ignore Crystal Ambers ask for adding a new board member? Furthermore, Crystal Amber said it suggested in October that Hurricane should buy in some of its loan notes at below 50% of par value. It said Hurricane’s chairman previously remarked that such purchases would be a “commercial no brainer”. It also very looks suspicious, you are planning to give bondholders 95% of the company and leave shareholders holding just 5% for the sake of 50m. Bearing in mind the bonds repayment date is not for 15 months, and you have a major shareholder who wants to take the company forward. In my opinion, it is clear you have sold out HUR shareholders for your own personal gain. I have never known a company which ignores major shareholders, unless there is a corrupt agenda at play. 2017 CPR was an estimated 2.6b barrels, Under 12m barrels in 2021. Please explain? I suspect foul play, and an immediate investigation needs to be provided. Furthermore, I spoke with someone from HUR by phone in January, who told me things would be different if Hurricane Energy`s share price was in the $60 a barrel range. I believe there is enough information and doubt to warrant a full internal investigation, especially since the boards reshuffle, where I suspect constant negative news is part of a planned agenda. I ask you to please explain yourself and answer my questions in full.
mirabeau: With thanks to Oilman Jim - 02 May 2021 'Hurricane Energy (London HUR US OTC HRCXF) announced its proposed financial restructuring. As I said in the blog a few weeks ago when the share price was at 2.7p, the shareholders are done for. In return for releasing $50 million of the principal amount outstanding under the convertibles, bondholders will receive ordinary shares comprising 95% of the fully diluted pro forma equity of the company. That values the existing equity at just $2.63 million, which is £1.9 million, less than 0.1p per share. I’ve actually been warning about Hurricane Energy all the way from the low 30s down. It was more or less clear what was going to happen here and no special skill was required to know. All you needed to have done was to read in full - and understand the consequences of - the contents of HUR’s RNS announcements. For those who got hurt, perhaps to protect yourselves in future, it’s worth remembering who was touting Hurricane Energy over the past year or so and recall that their “research” in fact was entirely false.'
comedy: comedy30 Apr '21 - 17:02 - 25531 of 25552 Edit 0 1 0 RE: implications of today 's RNS30 Apr 2021 16:37 HI British this para A $50 million release of the principal amount outstanding under the Convertible Bonds in exchange for the issue of ordinary shares in the Company (the "Exchange Shares") comprising 95% of the fully diluted pro forma equity of the Company immediately following the Restructuring. I read as meaning" a number of new shares equal to 95% of the number in issue currently " The wording in the RNS is clumsy but the market reaction of a 50% share price fall means that the market agrees with my interpretation. HUR have 1.99 bill share in issue now that number should rise to 1.99+( 1.99x0.95)=1.99+1.89 thus 3.88 bill after completion of the exercise. copied question is it 3.88 bill or 38.8 bill shares???? still find 38.8bill impossible otherwise share price should have cratered to 0.1p today??? the market is very good at staying in ball park, don't think we would be out by factor of 10 today. plus 171 mill buys to 170mill sells...i did do the same calculation ie original holders left with 5% and 95% in new hands hence multiply x20= 38.8bill shares but share price would have collapsed to 0.1p which it hasn't.
ghhghh: I've said before that the bust up is over short term direction. HUR want to put the company on a stable footing which means sorting out CBs first. CBs will not sanction explo drilling since too high risk. Hence HUR been trying to sell them side track/water injection as lower risk options. CA have rather stymied this by saying this is too high risk! CA clearly wanted to appraise the 126m C2 resources, ideally using the CB's cash pile. CBs would not sanction this and HUR refused to override CBs. In fairness to HUR, there could be good legal grounds for refusing, especially as clock ticks down to 2022. So where does this leave us now? CA are accusing HUR of being excessively pessimistic re upside potential? Why? Is it simply a case of CA now seeking a farm out or strategic partnership and HUR not wanting to lose control? HUR can't hold back the tide indefinitely. They will have to announce Results/publish CPR soon. So what is the point of this news blackout, of not engaging with CA? They can't ratify restructuring without shareholder consent and CA will block this since most PI's will back CA rather than dilution. Can they pull a rabbit from the hat? Only possible rabbit I can see is some sort of corporate deal..
leoneobull: Ronok LSEKerogen I believe set up the new Technical Team and CEO as Dr.Trice made his exit. Since then there has been little connection with shareholders, targets have made and not been met, no forward works plan and little information given to shareholders on operational matters.I would expect that A. Maris, with his past experience, is doing a good job on an operational level but there is a large gap in areas you would expect a CEO to handle. Dr.Trice had the energy, drive, enthusiasm and was able to make decisions at a company level, these are missing now.Crystal Amber [C.A.] are certainly getting more and more involved with Hur by aggressively buying shares and by their comments. Their man R Bernstein [R.B.] is to be respected as a man who can see opportunities and has a track record of lobbying companies to the benefit of shareholders and of course the fund he works for. R.B. has made a lot of money for C.A. trading Hur's shares. That is in the past and does not figure in their share buying now.CA have their own consultants in the Oil & Gas field. With respect to Hur there are at least two geologists who worked there for many years and wrote papers on the Rona Ridge .They do not work at Hur now. Access to them would give C.A. very good insight on the Rona Ridge geology. Just a thought. What is it R.B. believes is worth pursuing and investing further in Hur? Hur should have given shareholders much more information on our Sandstone Resources. Just how good are they? Is the likes of Lancaster a combined F.B./Sandstone play? Would this be carried over to the other reservoirs?I believe one good way forward for Hur is to take on Joint Venture partners and if we have viable Sandstone Reservoirs this may be attainable. It could be progressed as we work to pay of the Bonds. All as I see it.Ron
tournesol: Hi Leo I am afraid that seems like very wishful thinking to me. I said last year that when the AM lease came up for renewal/extension this summer the problems at Lancaster would strengthen the negotiating position of the other side. It seems to me that the BP/Foinaven situation does just that. The owners of the AM originally signed a contract that gave Hur a very competitive (ie low) price in exchange for a share of the profits. At that time it was believed that Hur had billions of barrels to be produced over many years. Subsequent events have reduced that expectation to 9 million bbls over a few years. The profit share concept has failed to deliver. So now the owners of the AM will face a choice:- a) extend the contract with Hur on the same terms even though those terms have proved disadvantageous and Hur is struggling to survive - what would the length of that contract be? b) renegotiate better terms with Hur - good luck with that - again what would the duration be? c) offer themselves to BP on better terms/duration than Hur can commit to. if that works out, raise the anchor, wave goodbye to Hur and sail to Foinavon. If I owned the AM I know which would be my preference.
Hurricane Energy share price data is direct from the London Stock Exchange
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