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Agreed, hold and wait. I am braced for a further drop now purely because stop losses will be triggered and many nervous PIs getting out. On the upside, personally, glad I waited to top up (on the bright side!). I wouldn't top up further until I see some stability in the price and for whatever reason that might be a while yet.
No news is generally good news, and news there will be in 8 weeks or so with an update pre CMD - I believe.
LW, yes, poor attempt at humour. In my defence I'm from Birmingham.
As for the Captains what 'would I buy instead?' -I take a different approach. Whenever I hold a share that is underwater I simply ask the question 'if I didn't already hold this share, if I was looking at it for the very first time then would I buy in at this price?'. If the answer is yes then continue to hold, if no get shot of the thing. The SP you paid is pretty much irrelevant apart from CGT planning.
Well the reality is everyone that's invested in HUR are underwater, on the basis purely that we just hit an all time low price today, so on that basis, the only people that have made money on HUR are traders. I did until very recently count myself in that group, however I should say I did until I placed a lot of it back in here where I thought, and to be honest expected, a bounce, now sitting with a 26p average, and for the first time in HUR, which to be honest I find hard to believe, even at that price i'm underwater...only just but wow!
If we don't get a bounce from here, then I will think something IS up, you would expect instis to be buying here and tbh I would also expect some execs to also, if they don't then only two things in my mind can be occurring, either bad news or the board are in a closed period because of something they are working on, which is it.!
Writing fro my phone once more so can't get a quote off your 10:15 post. But for (factual) info, Mr Stobie is NOT 'Commercial Director, and nor is he responsoble for IR.
I suggest you check such stuff before yor next doom-laden post, otherwise the joke's on you.
Exactly albi, no one whose long like to see the sp where it is, but as far as I’m aware Lancaster is behaving as predicted. The sp on the other hand is totally unpredictable.
I agree with you alibi - at the moment i am sitting on a large paper loss - but it is only that. Once sold it becomes a real loss.
Another brutual day. However i asked myself the following question. "If I sold my HUR holding which company would I buy to regain my losses? at 24p HUR would be one of the strongest contenders.
I can't believe it is down to a mcap of less than £480m...that is a p/e ratio of about 2. Oil companies are generally 25..
"I wonder if anyone who posts on these forums also writes to the company. I doubt it."
Quite incorrect. Many on here and on Adfvn have, including myself. The response has been to myself and based on what others have posted here, see the RNS on 13.12.19 - Business as usual.
As to the decline in SP, no surprise given markets are down overall today and oil is dropping in price. Personally, continuing to hold as imo this will correct in due course. A lot of noise and no substance at the moment. Recommend a stay in the deep freeze until it's safe to come out again. Selling now would lock in losses that most holders will kick themselves for in a few months time.
I'm assuming your remark about the adventure being over and HUR being worthless is a joke, John.
The share price is down about 63 percent SINCE the company STARTED producing oil.
Some posters are trying to figure out what the company has done wrong and what RT should or shouldn't have said.
Maybe HUR's biggest mistake was becoming a producer and becoming self-sufficient, with a steady income.
The share price is still being manipulated and I am still planning to buy more shares, although I am suffering along with all other LTHs.
I don't see this madness going on forever.
Anyone who thinks markets are rational should consider the fact that Vincent Van Gogh could sell only one of his more than 900 paintings during his lifetime.
What did he do wrong?
To cheer up the down-heartened ....today's volume was half of the daily average, an average that was built up from a previously higher share price so once re based then today's volume was actually unusually low yet the SP dropped >6%.
That could mean that it is susceptible to much larger swings with any volume behind it. Fingers crossed.
Firstly, its carnage across the markets with very few exceptions. And it's not limited to AIM.
On the topic though, ask ourselves what would HUR have been able to say in any sort of RNS that is anything different to what they've said already that would have put any sort of long term support under the share price? Nothing. As long as they are stating THEMSELVES; that we need 6-12 months of steady state production to gather reservoir data, then anything they issue in the intervening period is irrelevant and would potentially smack of desperation.
7z is shut-in anyway, so nothing could be said to refute their own WC reports on that until it's back in production so that's a dead end.
Better just to hope 6 remains 'dry'/ minimal water cut in the meantime or the merd really will hit the ventilateur.
The only possible fillip is if they announce a new strategy which might catch the market unawares, but with the current back-drop I'd advise them against doing so until the general sentiment has improved. Oil is weak and immune to ME tensions even, so it may take some time to reverse this trend.
It's not much fun just now anywhere.
Busy? Dr. T has been on holiday !
I'm off to the canaries for the whole of Feb to be 'Busy'.........
One tries Daltry, one tries
A sense of humour when the chips are down!
I agree with DC that there will be an update/plan to move to the main market at the CMD......it was muted before that the move would be 3 or 4Q this year. However they have been super busy of late with re-assessing/planning the 2020 drill plan, news of which must be very shortly I would think!
I've already decided to drink my body weight in gin tonight while I can still afford it.
DC - I asked an unnamed why was she chosen. The answer was “basically because she is a woman.!.”
Obviously, I have no problem with that, provided the choice was made on merit, rather than gender. HUR are making the company socially PC-Wokeness (yawn) acceptable to any suitor, and hopefully to the main market. A statement of intention to join the main market would cheer a few of us up.
It’s a tough hold but the January sale is coming to an end soon. My guess is that RB has been removing himself from the picture
Well chaps and chapesses I think we must all assume that the adventure is over and HUR is worthless!!
All too often the great unwashed describe slightly inconvenient mundane experiences as 'a nightmare'. Nah, but this possibly is!
Don't understand what it is that has deteriorated so badly that the SP has declined from nearly 60 to <24 in a few months?
The recent appointment of a non exec is another step on the road towards a main listing. I can understand why HUR chose not to specifically link the appointment with a move as they no doubt wish to keep their options open, but ask why else would they take on another non exec if they have are no longer 'considering' a move. Assuming the EPS remains on track, (and I have no reason to suspect otherwise) would it be a surprise if they announced a firm intention to list at the CMD?
And regarding the next RNS would it not be appropriate to provide an update when they have resumed flow with both wells? Early February maybe?
Seems to me a lot of vented frustration here today and looking at the shareprice I guess its not hard to understand why. However one can't help feeling that these vented frustrations would be better directed at the company themselves so they can understand the frustrations the shareholders are feeling. If no one is telling them, then as far as they are concerned it's all just business as usual, carrying on with operations irrespevctive, and in some point of view I'm sure oblivious to your concerns. I wonder if anyone at all that writes on these forums also writes to the company, I doubt it.
Hurricane Energy plans possible move to premium listing on London Stock Exchange
Hurricane is considering an upgrade to its stock market listing due to its significantly increased size.
Hurricane Energy PLC (LON:HUR) is considering an upgrade to its listing, with a potential transfer from the junior AIM market to a premium listing on the London Stock Exchange.
Trice added: “The establishment of this committee demonstrates Hurricane's commitment to achieving best practice disclosure, reporting and corporate governance standards, commensurate with a Premium Listed business.”
14:29 Thu 09 Nov 2017
According to Google, on the day following publication of the above article, HUR shares were trading at 30p, a premium of nearly 25 percent to its current price.
In light of the progress made by the company since then, including the fact that it is now profitable, and the further share price decline, the case for leaving AIM is surely even stronger.
Agree the AIM is the culprit here with manipulators permitted unfettered control. Yet HUR make no hint or mention of an exit from this market? Apart from the manipulators, who is selling at these prices? It’s unreal, and inexplicable! I doubt its profit takers! Another unforeseen event like Coronavirus, and we’ll be easily in the teens. Stand fast!
'This all smacks of incompetence to me '
The incompetence is that of the AIM market with its refusal to value a company in a rational way.
Here's what Malcy wrote today about JOG, its RNS today, and its prospects:
'The deal increases 2C discovered resources over the GBA by 17.5 mmboe to 142 mmboe and adds exploration opportunities and simplifies ownership ahead of a potential farm-out. Money-wise it adds $506m post tax cash flow, taking GBA to $3.17bn net to JOG and increases estimated NPV of the GBA development project to $1.15bn..'
Yet it's down again - by 8.5p to 129p - from a high of about 240p, and has a market capitalisation of £28m.
Am hoping there is something going on in the background which is why they are not commenting on, let’s be honest G15, more of an SP collapse than ‘movement’.
I’m reminded of the Spirit deal which came out of the blue.
Now if they could wind up this outrage of a Neil Woodford fund for me and give me back the fraction of the money I invested as recommended by Hargreaves Lansdown in their Wealth 150 right up until it’s suspension, I can average down here.
i suggest you check out some CVs. The new non execs are not lightweights ; and the co cannot respond to every SP movement, every BB rumour.
I am a tad disappointed HUR did not take the opportunity (as I see it) of the last offload to update the market with EPS performance. But attacking the Bod for not doing so is unwarranted, imv., ; they have many things to consider, and legal/regulatory concerns to weigh, which we may be unaware of.
I am puzzled why you mention raising capital ; that does not appear relevant to a company with projected 2020 net revenues, prior to capex, of almost $300m.