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"May I suggest you phone the Sun and ask to speak with the financial editor or the editor in chief -"
Can't do any harm. Also might be worth calling or writing to the Prufrock column in the FT.
I proposed the very same action a few days ago, and suggested that with a concerted efforts from the PI’s we can start a campaign to force this criminal BOD to call an EGM so that the real owners of the company I.e the share holders can vote down the stupid proposal put forward by these bunch of crooks whom are put in charge of this valuable company
This BOD along with the mafia chairman have deliberately driven this company to destruction and despite everyone in the oil and gas commercial world going so positive on the industry outlook cause of rising POO which they predict could hit 80$ by end of this year as economies are going to reopen and demand will soar
But HUR criminal BOD are going to gift the company to CB’s without the consent of the long suffering share holders
Please please let us know to whom to to where we can sent our complaints and how with the help of larger holders such as CA we can force the company to call an EGM
Together we can stop this criminals from stealing this company
"net-cash"
I have to say Slift that's a quite brilliant spot
it is an unfortunate reality that these forums tend to mirror twitter and have become infested with multi alias user accounts which just highlights what someone said earlier about 'the world is not perfect, it can be corrupt' except I would change their choice of wording from 'it can be' to 'it IS'
it is truly amazing the lengths that some will go to solicit and extract their ill-gotten gains
as a wise old owl once said:
caveat emptor
Yep and as I said last night IF and I say IF there were to be an investigation into alleged fraud the shares would be suspended immediately.
If HUR was on the Main Market, shares would have been suspended until result of court hearing.
You're lucky you can even sell right now..
Onthebeach3,
Shareholders do not need to be consulted.
It's an event of default.
Okay fine morganna1,
i'll believe that you only have one account if you tell me which person below taught you to type free cash as "net-cash" (with the hyphen).
Elementary
TopCat81
DifferentAngle
GroundHogDay1
RagingBull2
LuckyDog1
only 1 account?
morganna1:
"Oh dear. mcadder, I believe nothing at all here has changed at least since your below post, which was after the very last HUR RNS company update where you clearly claim to have still further bought/added another 2M HUR shares, strange? Ah, one thing has changed mcadder. and that is that you decided to sell your stake at a loss and obviously don’t have the heart to see the SP move above your sell price. Also seems like you have an enormous amount of spare time, certainly no job, maybe retired, move on man, enjoy the free time or retirement or whatever, you’re simply making same point over and over and over. don’t be so bitter and inconsistent in your messaging!
“mcadder
Posted in: HUR
Posts: 3,568
Price: 1.431
No Opinion
RE: HUR30 Apr 2021 09:19
Glad I held off buying more and this morning bought another 2M.”"
DifferentAngle:
"So, as highlighted before, slift has just been using cheap tactics here to try to buy in “for a lower entry”, and is now very bitter since both HUR and Brent have moved up, please see his below post of 11 Jan on lse CPI board just to understand his simple mindset when asking others:
“Slift
Posted in: CPI
Posts: 1,997
Price: 38.47
No Opinion
RE: topped up11 Jan 2021 14:57
Okay great, gratz to you.
So why are you here then if not for a lower entry? lo"
LuckyDog1:
"Sorry to have to inform you that the biggest and most clueless “Clown” here is you yellowman, just simply read your own post of yesterday here below on the day exact days that Shorts have been consecutively reducing their HUR Short positions, you are stating that “Shorts are far more in the know than most people on this BB” and going by that/your own statement during recent days of significant back to back Short position reductions here, then HUR SP should now rocket massively north in coming days/weeks, as Shorts are on the know! DYOR and at least read your own posts:
“yellowman
Posted in: HUR
Posts: 111
Price: 2.60
No Opinion
Shorts01 Feb 2021 13:47
Shorts are far more in the know than most people on this BB they are away ahead of most of you lot that's why you all are at a loss think on”"
etc etc etc.
Identical layout in posting.
Be surprised if you're able to fool anyone here. But can't fool me.
Just remember the desperate person using multiple user accounts to ramp this stock.
Elementary:
"the most undervalued and currently strangely oversold share
"ridiculously lowball MC here, upside potential by far outweighs any downside risks"
"any dilution here makes zero sense, and can be fully avoided by any competent executive team in place"
"HUR production along with updates on rapidly rising company net-cash should also land here pretty soon"
TopCat81:
"HUR’s massive undervaluation as compared to it’s peers is very evident at the moment"
"game changing and extremely positive for HUR shareholders while market cap here remains noticeably much under fair value"
"always worth noting that HUR’s cash in bank along with now rapidly/significantly rising net-cash "
DifferentAngle:
"HUR’s ultra ultra low market cap today makes absolutely no sense"
"HUR is clearly very much undervalued here as compared to peers"
"Significantly increasing net-cash for HUR at perfect timing"
GroundHogDay1:
"potentially make multiples from these way oversold/undervalued levels here overtime, DYOR."
" the currently very much suppressed company market capitalisation going forward."
"way too oversold HUR here has now become the U.K. stock market bargain of the 21st century, try not to miss this 2021 U.K. market’s potential Multibagger"
"H2 looking even more bullish for Oil, and HUR net-cash is continuing to increase significantly"
RagingBull2:
"company is clearly much undervalued regardless of HUR BOD negative noises"
"HUR should not be trading at these crazy bargain basement levels!"
"this year while company net-cash is significantly increasing as a result of higher Oil prices"
LuckyDog1:
"however now that HUR BOD strangely seem adamant on deliberately destroy poor shareholder value for apparently unknown reasons"
"HUR’s massive undervaluation"
"At these crazy lowball valuations, HUR with it’s assets/licenses/vast WoS acreage, rising net-cash"
morganna1:
"HUR joke of a market cap is less than £50 Million today!"
"at today’s extremely low market capitalisation? It would be crazy and can only be proposed by a destructive/crazy BOD"
"net-cash continuing to notably increase while Brent outlook remains very bullish"
For gods sake, the only producing well has a finite life so cant be relied upon to continue producing it at this rate. When it stops what is the production rate? Zero? As for raising money from institutions, the interest% would be enormous as they would be lending with little prospect of getting repaid
Morganna - you are not the first person to bring up my posting history as an attempt to deflect from the fact that this is finished.
My last positive post about Hur was before I realised just how bad that restructuring plan is. I initially thought it was 95% dilution of existing shares (as did many others) BUT it's actually 95% dilution of the WHOLE company!
So you keep fooling yourself that the company is in fine shape and I'll just stick to the reality hey
Oh dear. Morganna that most certainly is NOT true that Hur are in fine shape!
Yes they had £127M in the bank BUT even with this money and next 12months revenue to pay back the debt due in July 2022 of $230M they will be quite well short of that. Hence the £50M write down of debt agreement with the bondholders in return for 95% of the company!
And this is off the back of a HUGE downgrade of reserves and declining production. No money left over for any further development.
So we're only need to find £100 million in twelve months time.! Hmmmmm
Have emailed CA pledging my support to them .
Guys you lose nothing by writing to all addresses mentioned by British...
Don’t rely on others to fight your case.
Doing nothing will only weaken your case by lowering the numbers of the complainants and strengthen the bod position...
Silence means accepting defeat and the bod decision to handover the company to the bond holders!
Where was the manliness when the RNS were issued with all the warnings? That was time to act, not now when everything is pretty finalised and board have covered their backside.
Anyways, I sincerely hope you guys are able to achieve something from your challenge. Good luck.
Ok I will after 2 today. I will log off now and be back later. I need to find out where our case is listed on 21st. If we can raise our concern to the judges, they may at least delay the case.
Look forward to reading the Sun story hahahahahha. Will it be next to the Page 3 model?
Company has used your own money to screw you...
British - you have a clear handle on the detail. May I suggest you phone the Sun and ask to speak with the financial editor or the editor in chief - if you tell them you have a substantial public interest story for them, they will listen. The story could provide the paper with a good few column inches over several days
I hardly post here but am an active share trader. I will do the needful. However, I must say the board has played its card well. All the best. Meanwhile I did write to CA( Richard Bernstein) and they have confirmed they are looking at options.
I continue to urge shareholders to write an email letter of complaint and forward to all agencies British has listed. Complaint only have to reach a certain number threshold before agencies are obliged to investigate. Let us reach that threshold and not lie down and die wishing.
I have just also copied my complaint letter to the sun newspaper. There is nothing a paper likes more than a juicy legitimate story being paced free of charge in front of it. I urge others to copy their complaint letters to the Sun
Choose from the reasons below. Add and delete in your own words:-
1. The total debt of bondholders is $230 million but is not payable till next year. (There is a good 15 months’ time)
2. The company has $127 million in Bank and is generating revenue every single month. Infact, they have under reported revenue on March 31st. On January 14th they had reported a revenue of $19 million for their activities in December alone taking total cash to $106million from $87 million in bank. However, on 19th April, they reported only $21 million in 3 months. However, the point is the company is still producing revenue regularly.
3. The company has not once sought approval or vote from shareholders to raise money and pay off bondholders. They did not even care to tell in the last one year who the bondholders are and when the default can occur. They now tell the shareholders that a default has occurred and have now signed a deal with Bondholders that will reduce the debt for $50 million and give away 95% ownership of the company to bondholders. This is despite rising oil prices and revenues coming in constantly. This will wipe out virtually every single shareholder.
4. The company with its first CPR (Competent person report) had suggested that they have billions of barrels of oil with them. Then last year through a second CPR they suggested that the reserves are in fact only 10% of what was initially told. They have not tried to answer why there is such a huge discrepancy between the 2 CPR’s and why they have not sought a third party advise in this regard to finalise the exact nature of reserves.
5. The second largest shareholder Crystal Amber has tried to communicate with the board to take the company forward, all attempted communications with the board have been ignored, which clearly breaks the AIM Corporate Governance rules.
6. The company had made it clear last year itself that further work was needed to prolong the production - this was always going to have to be paid for - either by raising the cash or JV etc. the first action should have come up with a plan and then sell it - approach stakeholders to see if they were willing to finance. If not, then there should have been contact with major shareholders etc. if that failed then offer existing shareholders. However, the company has gone ahead and transferred the company over to the bondholders who should have been the last possible option.
I am trying to find the judicial bench where our case is listed. Meanwhile Write to:-
Serious Fraud office ( Tell them about court case on May 21st and ask them to treat it as urgent)
public.enquiries@sfo.gov.uk
Write to Takeover Panel:-
supportgroup@thetakeoverpanel.org.uk
Write to London stock exchange: -
https://www.londonstockexchange.com/resources/trade-resources?tab=rules-and-regulations
Whistle blow to London stock exchange on phone:-
https://www.lseg.com/whistleblowing
Write to Financial Ombudsman( Tell them about court case on May 21st and ask them to treat it as urgent)
https://www.financial-ombudsman.org.uk/businesses/complaints-deal/investments/stocks-shares
Write to Sun newspaper
https://www.thesun.co.uk/contact-us/
"Thousands of shareholders robbed blind by the board at Hurricane Energy PLC"