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What steps have the BoD taken / are taking to utilise the gas produced (flared) from the field to increase Hurricane's income stream. In the light of HMG's urgency in tackling high energy costs for UK domestic users, an opportunity has arisen to develop a sustainable energy resource under the control of HMG.
Laser + All (+ thanks to ADVFN for joining in) - we have enough questions
An under deadline work pressure today but in worst case scenario will post overnight list of 10 questions so peeps can see when wake up. Deadline to reach comms is 12.30 pm just after midday tomorrow so all we need is 20-30 to email comms before 12.30pm - we will get that. BUT, if another 50 same emails reach comms same day or tuesday will reinforce and according to AGM rules will have to be addressed by BoD platform.
NOTE - 10 questions is realistic limit and must be uncomplicated as poss - simple is always best. otherwise BoD will just toss in bin. So please no one kill me if question not included or not put as one would wish - am not the oracle and no one has stepped in with sample draft 10 question email. I repeat - in worst case scenario I will post overnight draft sample email (ie: email I am sending) nicely worded so peeps can copy and paste or easily tweak.
Peeps attending AGM in person can also print off what they choose from questions posted and use as hit list at AGM - GOLDEN RULE - DO NOTE BE SHY ABUT ASKING!!!!!!
post 34278 on ADFN thread
Hur used to read this ADFN thread so i am told, i have listed various points for Senseman from this thread, hope its a good AGM i will not be attending it may assist those who attend
Direct questions obviously many of which probably will not answer copy /paste delete amend items as you think fit
Is the company up for sale ?
Hur seems no longer promoted through Edison research, coverage now has been deleted from the HUR website. Private investors did have easy access unlike other coverage notes.
How do they propose to market Hurricane for further investment
What are the closed periods this year.
Is it feasable that Hurricane management will purchase shares in the future
The strategy in the past 18mths had been to strengthen the balance sheet.What is their new stratetgy
Will the present bondholders be repaid and cleared in full next month
Are they aware of any bondholders on the share register
What will be the main strategy for the company going forward
Is it the companies intention to remain on AIM
Does the company have a costing and % downtime if Schlumberger pumps need to be replaced
Does the co still hold an inventory of long lead items relating to Lincoln discovery or have they all been written off when the licence was relinquished. If we still hold what value can be attributed to the items
Wosp gas pipeline outlook
Does the Spirit Energy relationship continue or will this now be dissolved
Gas disposal plan was for an initial 3years going forward from now does it need to be re evaluated
Is the full use of AOKA Mizu possible within its present anchored location
AM is still under capacity if P8 is sidetracked what would OPEX come out at. would it be lower due to fixed o/h
What is the commercial value are HUR's historic tax losses in the event of a takeover by an acquirer
Economic life of well 6 are they still sticking with 2023
Economic life of well 6 with investment can it be extended further
Present opex
Current flow rates as of today
What would be a fair take over price are they seeking a buyout
what plans for a company share buy back and how will SP be influenced? what plans/timescale for dividends, special or regular, if no further drills being planned?
prediction of cash in bank end of 2022
We all know Maris and Kerogen were working with one another that would allow Kerogen to take the company under its control, that much is obvious to even the most halfwitted soul but then Crystal Amber know this too but have accepted it and moved on. Having Maris on a tight leash and removing Kerogen as a threat has been achieved. Both of these threats have either been neutered or removed with Kerogen's cancerous influence hopefully purged by end of month though they may indirectly have a minority shareholding though that doesn't confer leverage so that 's fine
In terms of questions for the AGM. I appreciate Senseman's efforts but let's keep it concise and simply pose a couple of questions that we know management will answer rather than including questions we know they won't
Questions should be -
1. Forecasted cash by end of year?
2. Is there now a plan in place that points the way forward for Hurricane ie Lancaster development or other assets?
3. Does management seek a buyout of the company to monetise tax losses?
Good summary....
In simple terms there are variations on two questions
1) how much cash by year end?
2) what do HUR plan to do with it?
However : I agree the most basic question that really must be addressed is:
3) can shareholders trust HUR board following failed restructuring ?
Will the long lead items purchased for the Lincoln tie in/ well be used on any Lancaster development ?
NSTiger has a question about the elephant in the room. I think that is a very important question regarding any future trust issues by shareholders in HUR. I believe that question should be on the list. Once again Sense, thank you for all your efforts in supporting us. Please recommend if you agree
"The 205/21a-6 well was fitted with 2 ESP's , a 2nd for back up. In March 2021 the Company switched from the lower of the two pumps in well 205/21a-6 to the upper pump following an issue with the lower pump. Does the lower pump still provide any backup ? Does the company have a costing and % downtime if they need to be replaced"
That's my main worry, as I have mentioned more than once.
Have they formulated a forward plan beyond repayment of the outstanding bonds or is there intention to sell the company to an interested third party or just carry on to the end of life of P6 and pass on profits to shareholders?
What is the likelihood of a special dividend?
Investors invest based on fundamentals and confidence . How does the present board going forward , inspire Trust and confidence after the 2021 court case where Shareholders nearly lost their investment ?
The elephant in the room has to be addressed at this AGM. A question has to be asked along the lines of shareholders confidence in the BOD with regards to the company trying to hand over the company to the bond holders without shareholders approval. Why haven't we received some type of apology or at least reassurance that this behaviour will not happen again?
if someone has the time to knock the questions into a so far single list & can post, would be helpful. am under time pressure with various stuff
Main Q's from ADVFN Q.
The 205/21a-6 well was fitted with 2 ESP's , a 2nd for back up. In March 2021 the Company switched from the lower of the two pumps in well 205/21a-6 to the upper pump following an issue with the lower pump. Does the lower pump still provide any backup ? Does the company have a costing and % downtime if they need to be replaced
Question for the AGM - What is the economic lifespan of Well 6 ?
A question could be asked if the company now sees economic production extending throughout 2024.
The strategy in the past 18mths had been to strengthen the balance sheet. What is their new strategy Will the present bondholders be repaid and cleared in full next month Are they aware of any bondholders on the share register What will be the main strategy for the company going forward
The reliability of well-6 is key to any future business model. With regards to production critical spares associated with this well, in the event of an unplanned failure, what contingency do you have in place to minimise production downtown?
Given that they must now have a considerable amount of data on Lancaster has management formulated a plan to extend the life of the field, and in particular:
1 Will that include the drilling of another producer well?
2 Do they expect to have to pressure inject and if so will it be gas or water?
3 What is the prospect of connecting to the WOS gas pipeline, and what will this cost, and if not will the continued gas flaring risk extended production.
What do the board predict cash in bank could be by end of 2022?
Taking the most recent P6 well data analysis into consideration (bubble point, water cut, etc), how confident are the board that P6 well will be economical viable into 2024?
Do the tax credits against previous losses have value for anyone taking over Hurricane?
What would the board consider to be a fair take over price?
Do the board have any plans, once debt repaid, to use cash pile to pay a dividend or buy back shares?
Alternatively, is future drilling on Lancaster to extend field life being considered?
Good questions so far.
Keep them coming throughout day - try to concisely word.
Overnight will compile & post by then current list for tomorrow am
Note- when reading any question, if consider it's good, please tick recommend so we get indicator of most supported in case need edit list down
Have they fixed the back-up ESP for well 6?
How do they intend to obtain the value from the remaining tax credits?
Does the company intend to develop Lancaster beyond P6 and if so what are the risks and costs involved?
Is the company seeking a bidder for itself or does it intend to become a bidder itself for other companies or other producing assets?
That whopping cash pile must now be used wisely and productively for purely value accretive purposes and that means no risky exploration projects
This is separate from any questions peeps have already emailed comms individually. We are after an agreed best 10 questions list (for obvious reasons)
Thread purpose - to construct:-
(i) List of best questions (10 max) to to be emailed to HUR comms SHs by 12.30pm Monday deadline
(ii) List to be printed and taken to AGM by physical attendees to ask any of 10 not answered by BoD at AGM
Please think carefully and post question - tomorrow we can knock into agreed list. No one being daft please - it's important and we don't have long. Think caps on gentlemen...