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In August the statement was true about no placing and that’s when the SP was at 6.2p so there won’t be a placing now at an SP of 2.5.
"My experience is that investor relations very good at re-badging news that is already in public domain while pretending to be sympathetic and giving little away."
guess that is in reality their job...they can't give info away that should be in an rns.
that response on placing is what i would expect from them.
thanks for replying
The best reply I got was :
"..... *at time* of technical review Q&A there were no plans for dilution".
That statement maybe have been true in August ;-) My experience is that investor relations very good at re-badging news that is already in public domain while pretending to be sympathetic and giving little away.
I had previous fall out with them in August after they refused to give me yes / no answer about production restarting.
haggis - can ask your wording and investor relations exact response?
I wish you well with your future investments and hope you recoup your losses
Well, I knew the risks with EPS so only have myself to blame. Even now i think HUR has a future. The kitchen sinking was deliberately worst-case. However you need to trust new board not to dilute existing share holders to remain invested....
Sorry to hear that haggis, thanks for your input.......nice to know your views
Good luck for the future
Let me start by saying i believe HUR has a future. 14bopd, £100 mil in bank and Lincoln tie back is worth something to someone.... The obvious elephant in the room is how the remedial works will be funded. Estimated cost of new wells is higher than market cap of the company (£50 million). As I see it the risk / reward ratio only makes sense once funding in place.
The new board dropped ball with the infamous September kitchen sinking. Share price has dropped 10p to 2p on their watch : which makes equity harder to raise. Plan for remedial works should have been announced alongside the technical review. Fwiw : I remain sceptical of the technical review (... someone wants HUR cheap?)
With this in mind would urge those who remain invested to ask investor relations how future work might be funded. Ask them to look you and eye and promise you wont be diluted. I did just that : wasn't satisifed with answer and sold out at absolutely huge loss (having held since 2014). Seems to me current focus is all about ensuring bonds are repaid rather than protecting what little is left of share holder value.
Good luck to all remain in. If anyone deserves a little good news it is long suffering holders of HUR