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CA don't work for any of you.
They work for their own shareholders.
i wouldn't expect them to say anything
What do you expect CA to say before they announce news? Apart from, they will do what they can for shareholders. Everything needs to be kept under wraps.
hasiba - the issue is that it looks like CA have been outmaneuvered by hur. quite possibly why they were so reluctant to engage with CA when they attempted to contact.
If that message from CA is legit - you would think that it was pretty much game over
"Maris the-fractured basement reservoir specialist brought in to make us think there was a future, side track, water injection, just talk to make us think that they were doing something for the past 6 months for their inflated salaries."
good point - as he hasn't seemingly added anything to the FB approach. certainly not given a decision on what needs to be done
Trice and His perched water rubbish, He was booted out and I suspect that they knew then there was very little oil to be had, I thought Halifax was to be the big one but it appears to have disappeared down some plug hole.I suspect He sold out long ago.
Maris the-fractured basement reservoir specialist brought in to make us think there was a future, side track, water injection, just talk to make us think that they were doing something for the past 6 months for their inflated salaries.
We were stitched up like a kipper.
Indeed they could fight to the bitter end and their motivation is that they have millions of pounds worth of shares invested. But regardless of how much they have in here the question mark is what if anything can they do?
The process the bod is following is legal in cases where the company has fallen into financial difficulty and they have a restructuring plan to deal with it. They took professional legal advice before doing so and wouldn't have taken this course of action and allow this to be heard at court only for the court to say, "it's clear to us Hur is not in financial difficulty therefore there is no basis for proposing a restructuring plan" and then just throw it out!
If that were to occur the bod would certainly then be accused of fraud and rightly so!
CA imv will not be able to get an injunction to stop the process. The only thing I can see they could do is to propose a financial solution that deals with the debt at the court hearing.
I simply can't see anyone stepping in to provide the necessary finance given the situation.
And either way CA have done pretty well out of Hur over the years so it wouldn't be too much for them to stomach if this does go tits up.
Logic tells that if you invest millions of pounds in any assets....would you not fight to the bitter end to defend it and try to recover all or most of it...OR just sit and watching it taken away from you in such way!?
Come on guys ..get a grip..
CA will fight back to the bitter end..come what may as we are talking millions of pounds and CA reputation as an activist funds....
We are only witnessing the first shot by the corrupt BoD trying to steal the company from the shareholders to keep their jobs and fill their wallets....
Deceitful restructuring plans....
RetiredFella - Based on you correspondence with CA, are you of the opinion that they (CA) will be taking some form of action regards this situation?
"if we are able to restore shareholder value"
"We are unable to give any guarantees other than that if it is possible to recover value, we will"
They are certainly trying to sound positive but those sentences do not instil much confidence.
I have to be honest and think the silence from CA in this situation means that they will not be coming to the rescue I’m afraid.
retired, whilst CA outline an EGM would have been too late , it does not preclude them applying to the court seeking an injunction to hold off the refinancing until an EGM has been held. Imv, they will not give up on their investment without exploring all angles, and in particular sensitivity analysis around future oil prices.
Retiredfella...
Thank you for the constructive posts.
I have too written to CA to pledge my support to their email on their website but received no reply apart from acknowledging my email...
It’s obviously they are they are planning some sort of actions/plans to recover best shareholders value....
Let’s hope everyone holding here write to CA pledging their support....the more the better and stronger...
contact@crystalamber.com
And ''We are unable to give any guarantees other than that if it is possible to recover value, we will.''
I have been writing to CA and they have been replying that they are looking at all aspects. These are some of the excerpts from the email I received.
''Regarding an EGM, even if we had written to Hurricane Energy calling for this on 30 April, the timelines before the meeting could take place would mean that by the time a vote would be taken, bondholders would hold 95% of the shares and the votes.''
''We have to be thorough and ensure that if we are able to restore shareholder value, it is done in the best possible way.''