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https://www.addictivetips.com/vpn/vpns-legal-france/
https://www.ibvpn.com/2010/04/is-vpn-legal-yes-it-is/
AK,
Try it, it's not illegal!
https://join.nordvpn.com/order/
Jiffy,
"You will require a VPN connection to make it look as though you are based in UK, (Nord VPN works fine) "
France is a police-state. Setting up a VPN isn't easy. But that's a movie I certainly want to see.
and once registered with BBC i player, and connected to UK , off you go.
AK,
Re Eric Clapton,
Watch this on BBC i-player, very good.
https://www.bbc.co.uk/iplayer/episode/b0b95q4f/eric-clapton-life-in-12-bars
You will require a VPN connection to make it look as though you are based in UK, (Nord VPN works fine) set up an e-mail addresss as though in UK and once you are connected to UK , off you go.
CaptSwag (et al),
" good luck to you too and all holders here."
What's 'luck' got to do with it ?
Mjga, good luck to you too and all holders here.
LW,
Re: 'If production rates and Brent stay reasonably high, then cash is going to be accumulated to the point where the current share price would be at a steep discount to cash per share.'
And that is my worry, because any takeover is near as much... self financing?
C.ENG, WISH YOU ALL THE LUCK.
DC,
I agree there are a lot of newbies out for a quick buck, witness some of their inane posts last few weeks. I don’t think they are in large numbers and are not a major influence, although an irritation, they will cause bumps in the road as sp recovers though! They are keyboard warriors with now too much time on their hands!
AS, it certainly would have made him wince and maybe made his eyes water! ??
MCB55
I was not castigating the institutions. If they decide to sell that is their choice and we have to accept it. Moaning is pointless as was all the whingeing about CA. My point is that there will be a good number of new holders who have bought in at below 12p who will be quite content a quick profit.
C.Eng "Clearly, if you believe in the story that cannot hold, but I do wonder sometimes about the rabbits the good Dr needs to pull out of his hat."
Not sure about the rabbits but I dare say with the run of luck Dr T has had, he has probably pulled the odd hare (sic) out his arse
mcb55 - good post. I agree. you could have made 25% recently on BP without as much risk as hur. or look at Aston martin. there are a lot of opportunities at the current time. And some might be quicker to recover than hur.
Hi mjga and thanks. As you ask and, FWIW. I am no oily, though.
I made my first purchase of Hur (26/6/14 @ 39.35p) and was dreaming ££. Throughout this time a lot has happened (as many on this BB could testify) and many figures have been banded about. The latest Hannam one for instance giving 45p core NAV. Presently, it appears the market (ignoring any price change in 2p reserves based upon oil price) assigns around a 50% CoS to Lancaster and 0% to everything else, to give a core NAV around 7p. Clearly, if you believe in the story that cannot hold, but I do wonder sometimes about the rabbits the good Dr needs to pull out of his hat.
Personally I like the David Bernstein valuation of c. £17 billion and at the moment I hold dreaming of that day and imagining what I would spend my hard earned investment on!
DC,
I agree up to a point. The reason II’s sell at low sp/a loss can be for many reasons, but I would suggest that they are mainly rebalancing risk in their portfolio and looking at other opportunities in the market as well as creating some cash to cover their overheads in these difficult times. Doesn’t mean they don’t believe in the long term success of Hur; just short term needs and opportunities prevail!
C.Eng, thank you for interesting text. As you have been in this share since 2014, your estimate of what the SP should be and possible net worth of the Company would be welcomed.
Like many here I am way under water and have taken advantage recently to average down a little. Having held since 2014 I am also feeling the pressure of my personal Hurricane journey.
I have been trying to do some estimating on the effects of 7 shutdown to our break even costs (and overall cost inc bond repayment, admin etc) and using historical presentation data, I have linearly interpolated based upon production to estimate cost per barrel. Maybe this could provide a reasonable estimation of cost variation across the range 10000 to 18000 bopd.
Using Cost = -0.001X BPD + 35 gives the estimations in $ per barrel. Adding $9 gives the total cost including admin and bond payments.
This estimates that at 10k bopd breakeven is $26 ($35 inc bonds etc) and 16500 is $18.5 ($27.5).
Anyway provided in good faith and GLA.
MCB55
"even though many PI's would be seduced for less, the II's would not"
This is what I have always thought but in light of Pelham's sale it has made me think that other II's made have downsized their holdings and we don't know how many new shareholders there are who could be persuaded to accept along with nervous long-term holders would be prepared to recover some of their losses and walk away.
If a hostile bid succeeded RT would walk away and I very much suspect many of his team would go with him. Apart from the matter of shareholder acceptance the other questions are 1) Are there any potential bidders who have the expertise to develop FB without RT and his team?
and 2) What would a bidder have to offer to gain an acceptance recommendation from the board?
" I don't think the fact that people regret not having sold at 30, 50 or 60p, will prevent the price from recovering the whole way"
Can't help but agree. HUR's share price movement has been so erratic at times to explain that I can't think of a reason why it could'nt go back to the 50s & 60s. It managed it when it wasn't a producer, the oil hasn't gone away so sometime in the future I can't see why it won't get back to those heady height's. Just hope I'm still alive to see it lol.
As said before, I'm balls deep in on this and so far under that I need a snorkel just to read this BB but still think it will come good for me in the timescale (1-2yrs) that I need. Having questioned myself many many times over the last year on what I could have done better, to my regret there's only one time I should have sold some and that was on May 30th last year when HUR hit it's high. Unfortunately that was my daughter's wedding day and I did'nt think it prudent to excuse myself for half an hour or so to start dealing on my phone! Still think about it now, would have saved a few sleepless nights lol
"20 to22p would be a knockout blow. We'd all be ex-shareholders with the majority (including myself) taking a haircut."
Any "lowball offer" at this level would be rejected by the BoD, for it to carry any weight it would have to then be a hostile bid, where the bidder solicits support direct from the shareholders, if they get a majority in favour then they can force an EGM and a vote. This is not going to happen at less than 50p in my opinion, even though many PI's would be seduced for less, the II's would not and so I don't see a majority materialising! Such a low offer would be public and hence would attract other bidders to offer and therefore a bidding war would break out (at such low offer levels) raising the offer price to something reasonable, such as nearer 50+p.
I agree, Daltry, and that is why I said some time ago that I didn't think a share buy-back - even if shareholders were to authorise it - would be a good idea.
If production rates and Brent stay reasonably high, then cash is going to be accumulated to the point where the current share price would be at a steep discount to cash per share.
That happened recently with RRE, which was trading at 422p against cash of 2089p.
The shares have since recovered to 1290p.
Longwait. - Over the past few months I have read your comments with particular interest. Mainly because I concur, wholeheartedly. I genuinely do think there is skullduggery going on here with the hedge funds, and the MMs colluding, and milking the dilemma. Along with the PoO, and coronavirus, a situation of the perfect storm has catalysed the already intended SP depression. This SP is impossible to understand. Dr T should just keep building the cash position so HUR can ride out any storm. Cash is King here more than ever. Technicals and fundamentals count for nothing in this SP.
With cash, value will out.
'There is something dreadfully and stupidly WRONG with HUR's share price being down below ten pence right now. In fact, there's something stupidly wrong for it to be below about 40p.'
(Double, 3 June 01:47)
If the SP is obviously undervalued at below 40p, a price in the 60s cannot be grossly-overvalued.
Longwait,
"I don't know at what price you started buying, Double"
Why not be honest? 17.3p, early 2016.