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I would imagine that oil companies and social media don't really mix at the moment given the presence of the anti oil community. Any post by HUR on twitter or Facebook would surely be met with a flood of anti-oil responses.
winnie16 I wouldn't be surprised, they just recently closed their facebook page so social media and public perception doesn't appear to be a priority
After the AGM, and having read the reports by Senseman and his pals, for which I profoundly thank them, I had a look at Hur's social media. Their last tweet to their 2738 followers was on April 17 2020. Quite Incredible.
Have the Marketing Dept., if there is one, been ordered to keep things as low-key as possible and share only what's legally necessary?
Shouldn't long-suffering shareholders be told?
miavoce - So he did, I misread him, put it down to 3 hours sleep since Tuesday. That takes it to the Friday 22nd whereas the bonds are due on Sunday so still falls either 22nd or 25th. I would anticipate 25th so the company can enjoy that extra days interest on the funds in the bank but who knows.
Hi asimpleinvestor
mariog said 'bonds will be repaid in exactly 15 working days' rather than 15 days.
We know roughly CRS average, do we know Kerogens??
mariog - Thought they were due on 24th July albeit being a Sunday so more likely either 22nd (Friday) or 25th (Monday). 15 days only takes it to the 16th.
'There is nothing more for me to add to my recent comments on Hurricane, this is just more of the same despite the uncertainty of the impact of the Looney tax which could turn out to accelerate a potential takeover opportunity…'
GMW, 16 June 2022
https://www.malcysblog.com/2022/06/oil-price-petrotal-zephyr-rockhopper-longboat-harbour-hurricane-president-and-finally/
C-456's comment chimes with Wood's (yes, I know MGW's not everyone's cup of tea) comment from 16 June that the EPL will accelerate M & A in the North Sea.........
bonds will be repaid in exactly 15 working days
Good post,
I agree there are 3 obvious catalysts in next few months.
Hence reason I re-invested:
- bonds finally repaid
- windfall tax may not impact small-medium producers
- possible take over or M&A(once issues above resolved)
Lots of positives here.
Just a shame board reluctant to promote future prospects.
Fair comment... In fact excellent. Cebo. I bow to your analysis.
C-456
Brilliant post..thanks
Daltry, I am no supporter of the current Board of Directors, but it does look like Crystal Amber seem to be tolerating them and voted at the AGM to keep Marris in place - surely that speaks volumes and tells a story.
Also, rightly or wrongly, you Haggis and others want this "plan" - but surely not even a competent Board of Directors would or could issue any sort of plan whislt the Engery Profits Levi Bill is, or was, still only a draft document and still under consultation till earlier this week. This Legislation is a game changer to how any plan is financed and by whom - I suspect that this legislation changes everything and RB and the BoD know that. - Particularly regarding the Investment Incentive where Oil and Gas companies can immediately offset Capital Investment expenditure as well as some Leasing and Operating costs. Further more the fact that unlike Tax Losses, this does not need to be activated against relevant income and can be used to create or augment a Levy Loss - this surely means that the Mid Tear and Major Oil Companies would rather invest than pay the Levi to the Government. The fact that finance costs and decommissioning costs cannot be offset under this new legislation can only be in Hurricanes favour.
I am sure that the clever legal people in all the large energy companies will now be doing the sums to ensure they give away as little as possible under the new Bill - clarification will be needed on how much acquiring a small Company like Hurricane could be offset given that they have already been granted the ring fenced allowances - but certainly 80% of any further costs to upgrade the FPSO, drill, tieback to the Wasp (or whatever other Gas Solution they decide on) could be immediately used to reduce any suitors current Levy Tax bill - and then can Hurricanes ring fenced tax losses offset production on not only Lancaster but also any other of the suitors producing assets ????
Worth a go, but we should be careful what we wish for,
he could be as enigmatic as Steve McClaren giving an upbeat press conference after a tricky 3-0 home drubbing to a paper boys select 11
that might drive investors away.
Get the plan, make the commitment, post the RNS, do the interview. Talk from positive activity , not blue sky proposals without substance
I've just emailed HUR to question why the CEO, never interviews, does he plan to do any now that HUR have turned a corner and soon to be debt free.
I mentioned that there are a lot of passionate but frustrated shareholders and that a bit of positive publicity could bring a well deserved boost to the share price but also to bring HUR to the attention of future investors.
There are a lot of positives to get out there publicly to those investors who don't have HUR on their radar; cash rich, steady stream of income, tax credits, looking for M&A, potentially field development, etc.
I also watched the interview with Wentworth CEO, KatherineRoe. Very up beat and positive, the way it should be from a CEO.
Will see if I get a response!
Polar opposite to Helge or Katherine Roe of Wentworth - they are always doing interviews.
Makes me quite annoyed. That's probably it until next years AGM.
or fell asleep during the interview!
It's astonishing there is not a single interview with Marris.
Especially now the corner has been turned and prospects allegedly look good!
The current board never wanted to run oil company. Rather they were brought in for a controlled wind down. Marris needs to start earning his salary
I used to enjoy Malcy's many interviews with Dr Trice. I wonder if he's tried to get one with Maris. He probably has and failed.
If the board can't promote company then are they right people for the job?
Prior to the failed restructuring Phil Corbett (remember him!) was all to happy to pick up phone and talk down future prospects for company to PIs. Coincidentally he took gardening leave during the court case and resigned from role of investor relations shortly after.
The balance sheet and cash flow for HUR looks brilliant. So why aren't the board shouting about future prospects to the market now corner has been turned?
Two obvious questions:
1) there is not a single investor interview online with Anthony Marris.
2) none of the board have bought shares with their own money.
@daltry - I'm afraid I have to disagree with you on the financial situation being well known to outsiders.
Even large companies' share prices are affected by earnings reports (typically when they have beaten/underperformed the market analysts' expectations).
Have you had a look at the analysts' predictions for hurricane energy? I'm yet to see one that recognises hurricane energy even has tax credits (Which I believe explains the share price quite well at the moment - if you remove the 40% tax benefit we have, the share price starts to look a lot more reasonable).
I predict hurricane energy's mid year report will "surprise" the likes of cannacord genuity, and I'm hoping it will finally make these sorts of analysts look more deeply into the company's finances.
Regardless, information is hard to garner in even the largest of companies, so a small cap like hurricane energy is certainly not well known to outside investors.
Also with respect to a plan - sadly the board seem to be quite content with chugging away and going through the assets in the most painfully slow way possible to hold onto their £400k per year salaries for as long as possible. Hopefully their new shares (whenever they get them) will make them re-evaluate. Hopefully some of the IIs can give them a kick up the backside.
But let's wait and see, fundamentally the company in the present is too damn good to panic about the future.
Flypie - The Worries seem to outweigh the upwards reasons. Those reasons are well known by all the O&G watchers. Their 'plan', Well 8 , is rubbished by most with some knowledge.
The mid year report can be calculated pretty roughly already.
A PLAN that the market approves of is the only thing that is going to install confidence to invest. Not the appalling unpopular management.
CA will sort their problem out, or take over the whole company. And everybody will acquiesce to the price of whatever bid that comes forth.
Doom and gloom is always easy. The facts of the matter are:
- Over half the current market cap in free cash by the end of July
- $25m free cash being produced each month at current oil prices
- Debt free in a time of increasing interest rates makes it an extremely low risk proposition
- The "one well risk" doomsayers have been harping on about has been confirmed to only take production offline for a few weeks at most (So a minimal impact provided we save $20-30m of that free cash as a rainy day fund)
I believe the stock price will pick up around October/November time and continue a steady march upwards for the following reasons:
- The mid year report will highlight to the wider market how good our finances really are (No debt, huge free cash flow)
- More certainty over future plans (Well 8, M&As, etc)
My only worries are:
- The board will spunk all of the free cash on something risky rather than giving back dividends (now pretty much confirmed). If they are going to risk it, as other, much more experienced O&G folks have said, why not try digging into that 20m barrel sandstone layer and increase assets by over $1b rather than going for well 8.
- The board are somehow planning to diddle us with some strange take over (Although one of the plus sides to them being allowed to get their own shares is that they will have a reason to actually care about the company's value now, so I consider this doomsayer speak again).
Because of the lacklustre AGM, devoid of a 'PLAN', and enthusiasm, the trading volume will drop to a trickle until something to excite crops up.
Don't hold your breath.....