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Hope you voted against all the resolutions OB and if everyone else has there will be a new egm called voting on the removal of director resolution I'm putting forward already got it drafted
Hi Bradley,
I stand by my thoughts that this is a crash/recession resistant type of company, and the products are excellent… this tech has the potential to save “billions” ..
I truly believe that this technology is going places, in bed with 5 out of the big 10…
What I did not bank on was being done up the wrongen! And we truly have…
Somebody is going to get rich of of this technology, but unfortunately probably not us ?
Imo dyor
OB
Oldbaldy,
If dmtr don't go under I think we'll be waiting for that full 5 years that you forecast. It was certainly crash proof wasn't it!. We had our own crash instead.
Tomorrow is the final day to vote against all five resolutions
Peeps should pay particular attention to Floridajoe's post (also posted on ADVFN). It says much in short space and is fair summary. I agree with the figures.
It poses the fair questions as to what the SP would currently now be had HUR a competent, non-deviant CEO. And what could it rise to with with one now - one with skin in the game assiduously seeking to maximise HUR potential and SP value to SHs
We have been whipped for so long by criminal cretins that inevitably, even for the most optimistic, ones senses are dulled to the extent that one simply seeks the SP to become ' a bigger peanut'. Time to change that mindset!
I posted months ago that those in balls deep anything up to 60p should not lose hope, and with fair wind I reasonably expected a phoenix like rise to +20p. I refrained from posting my private realistic upwards of 20p view to limit the canary crapology onslaught. For same reason I now still refrain from posting that same view, save to say with 1-2 significant building blocks falling into place, it remains significantly above 20p. It may not happen. But make no mistake - it is a genuine possibility
For it to happen, I would find a competent, honest CEO as soon as expediency permits. I would not trust Maris to feed the goldfish or walk the dog. I would go so far as to say my pet urang utang Cedric would do a better job working 2 days a week - and he only needs paying in lovely juicy bananas and a nice bit of female company once a fortnight
In June, Maris was telling the High Court that 56c on the dollar was the most the bondholders could expect to receive.
The liability was $230 million plus a 7.5% coupon.
You’ll recall, Maris said that it was best for shareholders if the bondholders swapped $50 million of bonds for 95% of the equity
and the company doubled the coupon on the remaining $180 million. The High Court agreed with Crystal Amber that this
was not what the statute was to be used for and blocked the restructure.
Today, Maris has reluctantly admitted that with the net liability now is $28.5 million, that by the end of July and that the bonds should be fully repaid, leaving a cash surplus of between $8 million and $38 million. Thereafter, Crystal Amber calculates that the existing P6 well should be throwing off $140 million per annum of cash for at least another two to three years.
Crystal Amber, now a 28.9% shareholder, has continued to have to fight the executives around balanced disclosure. In September, with the shares at 5p,
the company referenced the risk of production ceasing around “bubble point, ” which hit the share price by 20%. Today, the company said that “bubble point” has passed with no issues. In the middle of December, an 18.29 announcement on a Friday evening, reiterating what had been said to the High Court in June about the unlikelihood of developing an adjacent field with JV partner Spirit Energy, saw the share price fall by 20%.
Crystal Amber values the P6 well alone at $350 million (13p a share). Even ignoring the value of other acreage, Hurricane has around £1 billion of tax losses.* These can be utilised by a larger player and these change hands for 25c on the dollar, equivalent to 12.5p a share.
*At 31 December 2020, Hurricane had ring-fenced trading losses of $468.7 million and supplementary charge losses and investment allowances of $707.8 million. In addition, capital allowance pools of $383.5 million were available to be used against ring-fenced trading profits.