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What would I do?
1. Try to resolve the Spirit Conudrum asap, are Spirit committed to further development of the GWA ( I don't think so) if not offer them a stake in developing Halifax and Lancaster.
2.Re negotiate the bonds beyond 2022
Future production capacity and field development is what is holding us back at the moment IMO.
Joining the main market might offer a small uptick in the S,P but that is just icing on the cake, as the market needs a clear strategy and pathway or a vision at the very least, as to what HUR'sfuture intentions are.
DireEmblem; surely the best path to a good investor return - and satisfactory outcome for the company - is to 'prove' the reserves and their extractibility for the GLA (LanFax) asap, and so make the company worth what it should be.
Everything else is just cowing to the wolves.
GLA
It may not still have any effect on SP. I remember heritage oil doing a share buy back from all the way of £2.50 till its sp tanked to £1.10. Having said that all Hurricane needs to do is ensure it keeps increasing production and revenues.
I would ensure the next AGM includes a motion to allow he company to purchase and cancel up to 15% of its share capital. Then hoover up millions of shares at next to nothing while sellers remain at sub 15p. Providing 15,000+ bopd can be maintained and Brent doesn't dive again HUR will have sufficient to pay back the loan, fund Linc commitment well and Lancaster 8 with plenty of cash left over. I would also put my hand in my pocket and buy at least a million shares.
No one is sure if this is possible, so that's wishful thinking right now with an answer sometime down the line. Something needs to happen imminently. This sp is utter nonsense right? We all agree on that, so unless there is something wrong, urgent action is needed to bring this company back to life and running alongside it's competitors who are probably laughing right now. I'd be fuming.
"Your wishes of an RNS came true, but within days, the conclusion was we need another one"
So if they do some people will only want another and another. Their job is to run the company and produce oil. You could question how much they care about the SP....but ultimately they probably feel it is not in their hands. they release RNS when there is a material change.
probably the next rns will be when they have got a stable near term production rate - in the next week or so.
The thing to remember here is that oil production is a dirty word at the moment. No one wants to know. Add that to the fact of Covid 19 , China- USA sparring, PoO on the floor, and other side factors, all making the unethical investment look ugly. No one wants the shares, or the company, HUR, whilst there is uncertainty......
We just have to sit it out, whilst some of these bad things go away. If Trump loses the election, then the US will do a new better deal with China. Covid needs a vaccine. PoO needs to go up to create attractive investment quality profits. Directors need to buy shares, HUR move to main market, where its gains more credibility and confidence.
Back in the drawer with mine.......for another 15 years....
Produce 19000 bbls / day generation $300 million a year for the company ?
Ok, so take buying shares off the table for the BOD, what else, what would you do to turn this share around? The last RNS wasn't bad, not great, but steady. Yet the media pulled out the negatives, so what would you do next, you can't put your money where your mouth is, but others are pulling down the value of your company. So what do you do? Ultimately I'm trying to work out why Hur are sitting back on what's going on as they obviously accept what's happening, but if it was me, I'd be sharing the plan, anything to give hope and positivity. Unless there was a problem and they are buying time. Someone help me out here. I've been reading every post with interest and I've seen every angle spoken of, I think. Your wishes of an RNS came true, but within days, the conclusion was we need another one. We are in a holding bay and we are not being let out. What are we missing. If you were the boss of Hur would you be happy.
keepwell - one of the issues is that we do not know what is going on in the background and if they are legally able to buy shares currently. lets say they were in discussion with a buyer...or even their knowledge of spirit negotiations etc etc.
I wished they had got off AIM long time ago
Precisely - not sure what they hold but I think the BoD do not invest that much in this
Seconded...
As a director : I would buy some shares at 6p to show market they are good value...
"I would seek to list in the main market which would attract more interest from professional investors..."
YES !
I would seek to list in the main market which would attract more interest from professional investors
If you were sitting in the top seat of Hurricane right now, watching the SP be repeatedly wrestled down, what would YOU do?
All I can see is Hur are buying time.
Good news yes 'should' unravel this situation, but it wasn't good enough in the last RNS ops update. So what then as Chief of Hurricane, what would you do? I'd be embarrassed and angry - unless there's a problem then I'd be buying time too. If that is what's going on. Answers please, I'm interested in all views.