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Happy to be corrected but don't think we can forwards sell our oil. From memory all the oil is already purchased by BP, think the price is already pre set (against the PoO of the day) on the day its offloaded to the visiting tanker. That is unless a new contract has been signed that I've missed
Depends on oil price which is currently bullish and predicted to reach $100pb earlier than expected next year…
https://oilprice.com/Energy/Oil-Prices/Why-Bank-Of-America-Thinks-Oil-Prices-Are-Heading-To-100.html
As you both state so eloquently, the way forward now is for the board of HUR to publish as per a RNS a forward plan countdown (timeline) to total debt retirement giving 'Mr Market' the transparency and therefore confidence one, to derisk the company and two, to rerate the company and encourage buying of the stock
apology - meant forward sell, not forward buy
Golden
enough in your post to keep forum busy debating all day..). which i hope it does
main message is HUR can now see bond finishing line in sight - with oil in AM now just 60-70 mill shy
what a dramatic turnaround
there are many ways to fry a fish
my instinct is never to forward buy in strong market (it costs)
whatever else occurs, i would continue buying bonds at discount
and press for AM deal
how to get strong turnaround message to market?
it strikes me that 14 oct 6 month is ideal opp to transmit the essential message of your post - ie how near HUR are to full cash in bank for bonds. competent ethical CEO & CFO would be wanting shout it from rooftops
if stated clearly enough, would have same effect as your suggestions
question is - can RB, Wright& Craik compel CEO & CFO to write report as should be written? which would effectively be CEO & CFO admitting mea culpa we got it wrong/ tried mislead court
let the debate begin
Firstly a Huge Thank you to Bernstein , Wright and Craik for the Sterling work so far on the Hurricane Board .
Hurricane Risk Profile .
On July 1st 2021 Shareholders were 100% at risk of losing Everything with the court case looming and precedents against a Hurricane Victory .
On August 1st 2021 after winning the Court case that risk dropped by 25% and we had a glimmer of Hope .
On September 17th 2021 with the Debt reduced to $152m our chances of recovery improved to 50 % As Hurricane now only require $70m to cancel balance of the CB Debt .
The 50% Risk is as at Today Based on 3 Threats :
Brent Price for next 6 months staying above $68 .
Production stability over next 8 months .
Adhoc CB Holders Group Desire to takeover Hurricane and Destroy Shareholder Value .
The next move for our new BOD , i would suggest is the following :
Sell the next 3 Tankers of 500k , planned for Oct 10th, Nov 20th, Dec 31st , next week .
We received on lower Brent pricing in August $70 , $22m , so a Deal netting 3 Loads at $25m per load Brent $75 presently , is there for the Taking with Winter on its way .
The above action will remove 2 of the 3 Risk factors remaining , on the conclusion of a Deal next week . The only factor remaining would be producing 1.3b boe over the next 110 Days . Which should be very Doable .
With this approach we are Debt free by end January 2022 Latest and based on Tax benefits could choose to pay off CB's either in Dec 2021 Fin year or Jan 2022 Fin year .
We would then have the benefit of around 5 months cash Jan- May 2022 at $10m monthly to Drill in May / June knowing 100%of the company is secure .
With the above plan by 15th October 2021 after one of 3 required lifts i would expect our Share price to be around 10p .
Hurricanes Risk would be Re-profiled and a full Picture of all the Hurricane reserves would emerge in my opinion .
Thoughts Anyone ?