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CptnS ... ...he's a compelling character if nothing else, they're interesting points you make, sadly, I think we may never get to find out. I suppose we could say his ideas were deeply routed, which he has used to serve his interest. Does it come down to his inability to modify his knowledge and beliefs about what he was trying to achieve; desired outcome. It seems he was unable to change them under any circumstances when faced with reality and accept responsibility ... Just thoughts ...
CaptainSwag,
Idk about the 2C resources, as this is based on OWC.
But the 2P reserves is more convincing. In fact, I think even the new CPR is optimistic on the 2P reserves. But then again.. those are figures at 31st December 2021.
Current 2P reserves are more around 5m barrels.
But again, even 5m barrels is optimistic from an economic limit point of view.
I think maybe 2-3m of the 5m barrels could be recovered at $70/barrel.
bartle - the new bod say that trice got it very wrong. Lets assume they are right - though my faith in CPRs is not the highest- did trice every believe he was wrong? Or was he fighting to day he was pushed. If he did think he got it wrong at what point was it? there were over 6 months where he was convincing us that it was better than expected results/perched water etc. we may never know but this determines if he was the villain of the piece?
Ssushhh Maestro - no one is supposed to know - you're giving away the scam..
To an oil Co not bondholders
Shareholders own 5% with very little value, Bondholders steal 95% for $50mill and still get paid out on the remaining bonds earning hefty interest on the way, all of a sudden a lot of the oil that went miraculously missing is found HUR is then sold at a big profit to bond holders and remaining shareholders pick up some leftover crumbs.
"Neither have a need for a begging bowl..."
True
Then again why would they snap up the licensees next to ours WoS?
Held up well considering, seems like death by a thousand cuts, I was out at 1.17 huge losses but having been here for years still have a great interest in this what seems to me to be the end game but good luck to all you diehards and I genuinely hope you come out on top ( brave or stupid I don’t know ) these crooks that get paid huge amounts of your dosh for trashing your and my investments in HUR.
The frenzy over BP and Shell .... they both have deep, deep pockets, it's la la land (minus Ryan Gosling)... without knowing the strategy of these Companies...pure conjecture....Neither have a need for a begging bowl...
adoubleuk - Good post.
" If Lancaster, GWR, Rona Ridge all the way to Halifax are now seen to be so worthless, how come Shell and BP snapped up all the surrounding licences? And why has the 'new BoD' relinquished all the northern stuff (including Halifax), which no doubt OGA will put on the auction-block again ?"
Would be interesting to hear Trice's / Maris's private thoughts on the above.
The whole thing stinks, right from the huge resource write downs in house and their CPR rubber stamping, to the absolute unwillingness to converse with share holders and never mentioning the increasing PoO (oh how that must hurt!) nah it stinks pure and simple, not the way to do things in my view at all.
Also, in the academic world I'm sure he could find a place, I doubt in the private sector. He's come a long ...long ...way....with many stories/view/opinions/thoughts/theories ....to tell .... He tried...and it didn't quite work out...as he hoped it would...
CaptainSwag ... Without doubt we can say he had a belief, which he held as being true, of that I have little doubt, but that doesn't mean to say he's right.
Bartle - I don't know about awk's voices but I suspect he is right about trice. There was no way he was going to give up his baby and more importantly all that data - remember all the lectures on FB he was giving- without being pushed. Having dreamt of it all in his garden shed and his reputation now in tatters must have been a shock especially if he genuinely just got it wrong..
Adoublespeak .....
"But from what few whispers I've heard over the last year or so, his departure as CEO was not a 'voluntary resignation', and caused him personally a lot of distress."
Ahhh... the same mystical whisperers as the ones you heard about WW, or was it WD being a success ? You know what, I've heard whispers, that hearings whispers, are known as auditory hallucinations, some even go as far as saying it's an indication of mental illness...
Siccar Point..... Gravevine news; gossip, rumour ...Anyone care to verify that story .... I thought so ..... fiction it is then.
Albie,
"Interesting that we haven't heard a single word from Kerogen bemoaning any lack of dialogue with the HUR BOD as CA have publicly done."
Maybe because Kerogen have no beefs about dialogue with the BoD in the same manner as CA . Or am I just stating the obvious ? Kerogen selling down as they did many moons ago seemed a pretty obvious move. They recouped their initial investment, so anything else became gravy. However, the withdrawal / resignation of having a representative on the BoD remains strange and unexplained. Unless (ok, completely hypothesising here) Kerogen is indeed a bondholder as well as a shareholder and was complicit (or about to be) in the formulation of this latest 'restructuring plan', at which point certain conflicts of interest could come to light, from which suspicions they maybe wished to distance themselves.
OK, I know that sounds 'conspiracy-theorist', convoluted, and possibly way off on the wrong tack. But not impossible.
Other than Kerogen (and right now CA) remaining quiet, so has Dr Trice himself. But from what few whispers I've heard over the last year or so, his departure as CEO was not a 'voluntary resignation', and caused him personally a lot of distress.
Essentially (to my mind, though I'm not a lawyer), ratification by a judge of the 'financial reformulation' would make Hurricane almost a privately-owned company, with remaining shareholders likely to bail out, and with no effective say-so in what happens later at all.
But hang on. I can think of at least one 'private company'. Siccar Point. Drilling (and testing) fractured basement WoS, and seemingly (via the grapevine) with good results. But being private, no requirement to issue public RNS's, operational reports, etc..
Further question. If Lancaster, GWR, Rona Ridge all the way to Halifax are now seen to be so worthless, how come Shell and BP snapped up all the surrounding licences? And why has the 'new BoD' relinquished all the northern stuff (including Halifax), which no doubt OGA will put on the auction-block again ?
Switch the light off!
And 16% of HUR shares...... CA 14%
Interesting that we haven't heard a single word from Kerogen bemoaning any lack of dialogue with the HUR BOD as CA have publicly done.
.
It doesn't take Einstein to work out that Kerogen Capital, instigated the plan for the benefit of their own bondholders. Chinese businessmen are ruthless. Started discussions when share price was low but playing out there agenda. https://youtu.be/aBLR6KVZpZ4