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"I think we were at >60p with no successful drills or offloads"
We were at 60p when the FPSO was still sitting in Dubai
WW looks positive as far as the signs go.
I'm also looking forward to hearing all is well on Lancaster
Dk2020,
"My only guess is that the MM have accumulated mega amounts of shares cheap"
MMs don't operate on that basis - too much risk.
SG2, yes the 'management of perception' is crucial, however, if you think HUR kick the can, there are multiple examples on AIM who are far, far worse.
Explicit timeline, though in theory sound great, are asking for trouble - some will sell, thinking they have a definite time to buy back, creating unnecessary volatility and if operational reasons cause a slight overrun, the SP gets hammered by speculation.
You know this isn't 'rocket science' and even that sometimes goes wrong
Pecten: good PR adresses twatter trash etc. (On the 'rumours management' side, fwiw imo HUR would do better to control the insider trading many of us strongly suspect to have occurred in the past). Declaring a timeframe for main market move would also be useful, rather than just kicking the can down the road ad nauseum without a strategy explanation. The 'management of perception' is 60% of what it's all about.
gla
Pts, I would agree, HUR are and want to be seen as 'straight shooting' unlike far too many companies on AIM
IF they became aware of a Twitter (or similar) pump based on non RNSd info they shut it down, rightly so imo. Why should some gain - and others lose - due to 'creative speculation'
Mrpatridge completely agree with you. It is all so weird. Hur need to improve their communication. My only guess is that the MM have accumulated mega amounts of shares cheap and are holding it back to sell it for doubme or even triple the price. Like you said no oil 60p maybe because CA the big investor was holding at the time. I am sure there are smarter people here who can enlighten you..
Agree MrP; Hur's PR is irrational and needs a major qualitative and quantitative uplift (a bit like the AM does these days).
gla
As bemused as you Mr P. The only benefit I can see is in confirming that they are a very straight reporting honest outfit that wants to distance itself from any hot air speculation or ramping - that it is a essentially a ‘proper outfit’ that knows what it is about.
Also I think there is brilliant ‘Englishness’ to not accepting any random hike in SP after years of sitting silent as the SP gets battered down - a kind of ‘we’re not worthy of success yet. Let’s return to our place in the queue. We’ll get our sweets once next CPR is published unless of course the players want to continue battering us which is absolutely fine..
While we all wait for more news on testing at WW, I just wonder what people think now about the RNS on 8 Nov in response to media speculation. I must admit, I still find it a little odd.
On 8 Nov directly before the RNS the SP had hardly 'jumped through the roof'. And now after the flare we have only seen at best 10% up on the SP. Why did they release the RNS? If SP was at 50 on the speculation then would that have merited an RNS? I'm a LT investor here and have been for 2-3 years. Not going anywhere... but this is the most random share to second-guess. I think we were at >60p with no successful drills or offloads. Can anyone out there enlighten me?
Just a a reminder... 8 Nov RNS said: The Company notes the media speculation regarding the Warwick West well. The well is due to commence testing soon. The timing of testing is weather dependent. As such it is far too early to make any conclusions as to the success of the Warwick West well. An update will be provided once testing commences and on the completion of well testing.'