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"The only reason I have stayed on here is I have no exit now. I have to stay on for the end game. I will certainly not stop people who want to exit as 0.7 is better than 0.1 but for me the loss is just extreme in either circumstances."
We're obviously in the same boat RF.
FWIW I've sold half my holding now at a stupendous loss (Way over 100k) just to give myself a grub stake should this restructuring go ahead. The thinking is that at least I've got 'some' of my HUR money out (about 6k), to be able to come back in at 0.1p to make a quick buck and claw something back, as I'm not going to risk anymore of what's left of my pension. The other half of my holding is here to the death, just in case a very large rabbit can be pulled from the hat.
Don't take this as advice on what you should do, it's just what I've done to try and keep my sanity on both sides of the 'restructuring' fence as I'd hate to sell the lot now and find out it is/isn't a scam.
Yes, I will possibly take back that statement. Many people do get influenced. The only reason I have stayed on here is I have no exit now. I have to stay on for the end game. I will certainly not stop people who want to exit as 0.7 is better than 0.1 but for me the loss is just extreme in either circumstances.
For clarity I'm not a deramper. I'm not invested and can see the wood and the trees.
Everyone who is still invested and considerably underwater is understandably looking for a silver lining, clutching at straws, suspicious and believing in conspiracy theories like scams and paid posters. These are as ridiculous a suggestion that the earth is flat in my unbiased perspective.
I genuinely feel sorry for everyone who has lost money here. It's been a very sad tale.
"No one here buys or sells based on advise from BB."
I have to disagree with this as well. If you believe in paid rampers and derampers then the people paying them believe people do as well. Otherwise they are just giving away free money to the scribes for no return.
What is getting written here now by the rampers and derampers is all part of someone else's deception plan, just a small piece of a bigger cog. If you can't understand what I'm saying look up 'Operation Bodyguard', which was made up of several other deception plans in tune with the main goal.
I'm here to the death now and worried I've lost a lifetimes savings but I'd be more worried if the 3 stooges and their 2nd string suddenly disappeared from this board, as that really would mean game over with nothing to play for.
Behave yourself, No 16. The 2021 CPR & BoD presentation are porky pies. As you well know
"No one here buys or sells based on advise from BB."
Not convinced by this - there is a huge herd of naive 'investors' who are searching for their next golden ticket, completely ignore risk, lap up any ramping nonsense thats spread and then tick up the clowns who say anyone with an alternative view is either paid or a shorter.
The writing has been on the wall here for months, yet still some people seemed surprised when it actually occurred and still people insist this is a scam, when it is simply the result of a substantial change of circumstances and over indebtedness.
it's running out of oil. That's the bit you should be focusing on. The rest is just noise. WAKE UP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Well said, Retired
I do not see anyone ramping here. I am not selling my shares because of my own assumptions. No one here buys or sells based on advise from BB. Yes, people can exchange information. All your information is based on what the current BoD has provided the market. The same board being investigated by FCA's market investigation unit. The same BoD who is not trusted by major shareholders. The current board has run this down and it is clear if they have their way it is heading to naught. That is what we are trying to oust. A end game report based on much less average oil price. If you consider average oil price at $70, there is no doom scenario with average well production at 11000( Currently 11,600)
A forward work plan which never appeared. A restructuring plan which came right after CA increased their stake.
"AK has always ramped this."
Nonsense. But have always been interested in the technical side, and stiil believe in it.
Push off, Nigwit.
You put yourself forward as an expert. You shouted down those who argued that there were significant risks in basement reservoirs. You convinced people you were right. You were wrong. You've been wrong about everything. Why on earth do you think you are right now in relation to corporate actions? It's a dangerous combination and I recommend no one believe a word this person says in case they lose more money as a result.
Dear Mr 'RNSTranslator',
"I have zero time for those rampers and promoters in these boards "
So why don't you crawl back from you came from, before someone calls you out once more? It almost got me banned from posting here a couple of years ago, but I'm not unprepared to take the risk again.
"AK has always ramped this."
Nonsense. But have always been interested in the technical side, and stiil believe in it.
Push off, Nigwit.
"A little knowledge can be a dangerous thing"
Adoublesheadspace ...when did you say you were returning to Narnia ... I heard a whisper the Unicorn is missing you....
AK has always ramped this. I suspect along with losing his own money, he’s cost many more with his oil knowledge......which whilst it might have been useful for attic oil, doesn’t work in the basement otherwise he’d see that this ship is up to the gunwales.
Ducky & BigFella
Lovely to see you've been making the 3 canaries overtime. Respect
Done such a good job they've had to call up reinforcements - they're up to 5 or 6 tonight - must have got a b*llocking from the paymaster for doing such a crap job
They'll be needing new keyboards soon
Aduk you really do take the biscuit...
Nobody has in reality lost their life and gone down with the ship. Some may have lost significant sums, but at the end of the day the sad reality is that if those sums are life changing then those individuals really do need to take some measure of responsibility for investing in a risky company developing an untried oil field. Shell it ain’t.
Lessons will be learned and hopefully not repeated.
I have zero time for those rampers and promoters in these boards whose sole aim is to whip up a self serving frenzy of misplaced optimism in what is in essence a high risk gamble in small cap oil... some work, the vast majority don’t.
I’ve had my losses over the years but been fortunate enough to understand what the risks are from time spent in and around the industry and seen exactly how it works...
Small cap oilers are far riskier than both the management, the analysts would have you believe and especially the promoters that hang around bb’s spewing their uninformed nonsense and lies....
"So sure, keep pretending the company is a mansion full of diamonds when it's really a shack on fire."
Lol
I'm aint trying to be funny senseman as we have you and numerous other deluded posters providing us with valuable content to make us laugh and keep us entertained ;))
mcadder,
"Remember when the Titanic sank "
Sorry, despite oncoming senility, I'm not that old. Maybe you are, though, dredged up from the depths.
"Suggestion is not proof."
Well, I think the BoD, and the auditors know more about you or me regarding the financial situation of the company.
So sure, keep pretending the company is a mansion full of diamonds when it's really a shack on fire.
adoubleuk,
It seems like you really do lack knowledge around corporate, finance and law.
https://www.hurricaneenergy.com/investors/results-and-reports
Turn to page 24.
And no, it wouldn't be an assumption, it'll be a "scenarios" tested for going concern.
Similar to the stress test that the banks complete to ensure they can survive and overcome any financial difficulties.
Typing to you has been like typing to PlantedBHA today lol.
You either need help, or you are gaslighting AdoubleUK. Which is it?
No number of conspiracy theories can hide the fact that the reservoir/wells are not performing and that the oil is running out. Why even try and defend the indefensible? It's not going to get any better, it's only going to get worse, assuming that is the ESP's don't fail first. Notoriously fragile things they are. If the company had no debt then perhaps they could generate enough free cash to develop Lincoln or try a fix on Lancaster, but they are bound by the bonds.......
Slift,
"Please tell us why the court won't ratify this restructure?"Because company can currently pay the bills" is not the answer when the accounts suggest there is negative equity and will not provide enough FCF to service and pay off debt."
Suggestion is not proof.
3 RNS in a week and the board is not desperate? The FCA Market investigation unit and big shareholders are all after the BOD. The threat of controlled wind down, the shout of shorter on this board , all of whom are giving their precious time wanting every person to jump off the ship. I don't know about others and I will respect their decision to jump but i will certainly love to go down here and see the company wound.