The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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again.
IJWT, what a load of nonsense pal, if it were anyone else posting that then I would think they were bitter and twisted with an agenda, for some reason against RT.
Good luck putting him on the spot - just be careful you dont look a bit daft when you do.
RB is a clever chap and has done well, good luck to him in his endeavours.
He laid into the board as they took the company to the brink and got bent over in the fund raise because of it. Nobody has ever been held to account not have they ever felt the need to explain but Biffa keep arguing all is sunshine and light when the reality is you are naught but a mushroom to them to be kept in the dark and fed ****.
I am tempted to go o 28th Nov just to put RT on the spot but know he will simply take the huff, refuse to answer for the f#@ked up financing, cashflow balls up and AM delay.
Hi chablard,
Fair point. I should have put "discuss" but probably subconsciously typed "argue" as that's mostly what happens on here.
I'll leave it to the fantasy traders and TA merchants to provide the afternoon's entertainment.
GLA.
"Feel free to argue the rest amongst yourselves "
Don't think we'll argue amongst ourselves Biffa. Just discuss it as civilised human beings, as one should. No one's arguing.
ATB
All I am saying is that it's wrong to solely blame CA for the SP not being higher than it is today.
Feel free to argue the rest amongst yourselves but ultimate proof of concept and lack of new institutional buyers sit right up there on my list.
GLA.
"Blame the traders if you want somebody to blame."
Biffa. I appreciate your point, but would then ask ,"who do you think(blame) for the suppression of the sp after rafts of good news?"
ATB
The declared profits have come by and large from selling down nearly 90M HUR shares over the last few years.
Way back in 2016 CA held nearly 200M shares. Today they hold 109M.
I agree that CA have probably traded the share a bit along the way but I'm not sure that's the case anymore.
It's pretty irrelevant anyway as even if they did, it's only a small percentage of the trading action that goes on here.
Having said that, sooner or later the trade will be upwards as the risk is seen to have been removed and it will work to the advantage of those who are long.
I'm not defending CA, far from it but I think those that just blame CA need to look at the sheer volume when the trade is made and they will see it is many large traders and CA are but a small part of the action.
Blame the traders if you want somebody to blame.
Personally I think RB is one of the smuggest individuals I have met and I didn't like the way he publicly laid into the HUR BOD one little bit when he got caught out way overexposed to HUR back in 2017. Just like to get the facts straight that's all.
GLA.
MCB55,
What is a typical P/E for a established mid cap producer?
Is 15 or 25 realistic, these seem high so though I'd ask the question?
Thanks
"Puts that one to bed next time anybody says "CA are selling down their holding and that's why the SP is not going up"
Biffa.
I don't think people are saying they are selling down their holding.
I think people believe that they have been selling into any rise and buying those same shares back at a lower price. Therefore their declared holding showing no movement. As mentioned earlier "rinse and repeat". Their declared profits from Hurricane must be coming from somewhere, and not just from their warrant sales.
GL
I make the profit figures (that is $60-$20 op cost) at closer to £300m in 2021 and maybe higher depending on up time (probably better than 85% as recently guided, as the wells can flow higher to make up).
So at that point (or sooner in 2020) this Company becomes a mix of being an explorer and a producer. As an explorer it would be valued according to its assets 2p and 2c reserves. However as a producer £300m/a certainly talks, so at a P/E of 15 then sp is £2.25 and at 25 is £3.75.
As an explorer and if they bring forward GLA drilling to late 2020 and hence FIDFFD to late 2021 plus FIFFFD for WA in 2012 equating to ca 1bn 2p reserves at say $15/bbl gives sp of £6.
Also given that stock markets look ahead then I can't see why the sp doesn't start to move significantly towards those figures, but probably not until some more proof, so start in 1Q20 and CMD!.
Except you both failed to point out the bit about CA's HUR holding remaining constant at 5.2%.
If anything CA have been increasing their stake since July.
Jul 5.0%
Aug 5.1%
Sept 5.2%
Oct 5.2%
Puts that one to bed next time anybody says "CA are selling down their holding and that's why the SP is not going up"
GLA.
Nothing new there.
Hurricane Energy plc (“Hurricane”)
Since achieving first oil on 4 June 2019, the company has been producing from its two Lancaster wells. The reservoir has performed at the higher end of expectations. Initiatives are under way to increase production over the next two years. For example, the reactivation of the gas compression system will enable gas export and increase the production vessel’s throughput.
Over the period, Hurricane drilled and tested two new wells at its Great Warwick Area, funded by Spirit Energy as part of their farm out deal. The Warwick Deep found hydrocarbons in the target fractured rock, but oil did not flow at commercial rates. The Lincoln Crestal produced oil at commercial rates and will be tied back in 2021 to the Lancaster Early Production System (EPS). This will allow production appraisal and generate additional cash flows at little additional capital expenditure. One final exploration well is currently underway.
The excellent results from the EPS have materially de-risked the company. Whilst the Fund is disappointed that Hurricane’s shares fell by 18.9% over the period, we are encouraged by management’s focus on growing cash flows. The operational initiatives in progress and the addition of the Lincoln Crestal well to the EPS could see production grow from 2020’s guidance of 17k barrels of oil per day to 30k in 2021. Assuming an oil price of US$60 per barrel, the base case guidance for operating cash flow could grow from $200m in 2020 to $300m in 2021. In our view, those cash flows will underpin the optionality that Hurricane will have to plan its future development.