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Count me in, we need a new team running HUR, and fast, hope CA will assist and initiate something before a lowball offer comes, which can be the only logical explanation here for BoD doing absolute FA since last September!
"Must admit, the mention of Harbour Energy lurking in the background doesn’t sound too far-fetched at all."
"Hmm. Yes. Worth looking at the CV's of Harbour's BoD. Many with 'past' and involvement with either Shell or BP, or both. I find it weird that out of the the 12-person BoD, seven are listed as 'non-executive directors'. Which leads me to suspect that they might be representing third parties, instead."
First, also fully agree on the need here for a new HUR executive team/bod with fresh positive ideas, and as stated by TC, all in an orderly fashion, where possible! Second, noting that both Harbour Energy and Shell have previously shown great interest in WoS region, and just wished to add here to adoubleuk's note above that interestingly, Phil Kirk, Harbour's President and CEO for Europe, was "a member of the Board of Oil and Gas UK since 2013 and is co-chair of the Advisory Council. He is also a past company chair of the Oil and Gas Authority (OGA) UK Exploration Board, one of six boards responsible for the industry's response to the OGA's maximising economic recovery (MER) UK strategy", and as such, will know a lot detail on HUR and it's potential true valuation, DYOR.
“there has been no interaction/interviews on/in any media that I have noticed. if they had wanted to destroy investor sentiment and SP they could not have done a better job. which begs the question what are they up to? clearly CA agree.”
another vote for ousting of the bod. I was willing to give them the benefit of the doubt until xmas. however when no plan was announced it was pretty obvious there was the real danger of missing the weather window that had been mentioned. they then missed this. now as we approach May We still await the "plan" and also funding.
there has been no interaction/interviews on/in any media that I have noticed. if they had wanted to destroy investor sentiment and SP they could not have done a better job. which begs the question what are they up to? clearly CA agree.
Needless to say, it’s also clearly 100% BOD Out for me too, starting with Chairman, CEO, and possibly even CFO respectively; I hope CA as a major shareholder can initiate a gradual non-disruptive transition here which shareholders can then support ASAP, we deserve much better than this joke of a board now in place.
If only HUR had an engaging, communicative, proactive, and competent executive team at the helm instead of these clowns who unbelievably seem constantly set on continuous shareholder value destruction with apparently nothing positive to add or do, clearly with Brent at $68+ and present company fundamentals, HUR SP should even today be ~7-8p range at the very least, change is usually good and in the case of HUR management is now absolutely essential, as with good management, we will all be extremely surprised how fast things can turn for the better, obviously this team cares nothing for those who pay their wages, DYOR.
Whilst share price is drifting downwards and money still needing to be accumulated for bond I don't think anyone will be paying more than 4-6p. This would be a fantastic return on current SP if it ever materialises. Otherwise it's hoping enough oil can be produced to pay off bond holders and raising of capital or further production for an appraisal well to be drilled 2023 in my view.
I am really starting to hate this share but have to much in to want to sell on the cheap, about time this Bod got kicked out of their money draining over inflated salaries that we pay them for looking after our investments. CROOKS
"Must admit, the mention of Harbour Energy lurking in the background doesn’t sound too far-fetched at all. "
Hmm. Yes. Worth looking at the CV's of Harbour's BoD. Many with 'past' and involvement with either Shell or BP, or both. I find it weird that out of the the 12-person BoD, seven are listed as 'non-executive directors'. Which leads me to suspect that they might be representing third parties, instead.
The way Brent prices are going along with H2 onwards outlook, I wouldn’t be surprised at all if HUR ends up having more than one determined bidder this year, and IMO, any successful offer here will have to be in double figures as minimum, DYOR.
Must admit, the mention of Harbour Energy lurking in the background doesn’t sound too far-fetched at all. Might be a bit early though to allow this notion. After all HBR are only just getting to grips with integrating what they have on their plate after the recent merger of PMO and Chrysaor.
The significant CA big buys recently meant they don’t agree with bod cpr or their future assessments and plans for the company...obviously CA sees it very differently and confident of HUR long term value. A coup in the bod is imminent and revamping of the outstanding issues and future plans must be coming...and all this must be a very positive developments to come.. What’s better than now with so much undervalued SP....to take advantage of.. Ignore the trolls and internet worriers which have no holding here ... As always dyor Holding strong here GL
"and I trust their investments strategy rather than listening to the drivels posted here by a few clueless posters... Get a grip guys HUR Risk/Rewards has improved dramatically with CA solid support..."
Spot on - and in CA's own words as per their web site. The Fund finds the conclusions of the technical committee persuasive but not conclusive. Fractured reservoirs commonly exhibit rapid initial pressure decline and we note at Lancaster that the rate of pressure decline has in fact slowed. Moreover, the zone now believed to contain residual oil below the oil water contact is very thick, whereas we would have expected an abrupt change in oil saturation at the free water level. Therefore, the Fund believes that significant volumes of oil may be present below the revised oil water contact at 1,330 metres.
Following the publication of the report the shares are trading at little more than option money and the Fund has increased its holding. Despite these uncertainties, the company has stressed there are currently no going concern issues and it has ruled out an equity raise at this time.
Since investing in Hurricane, the Fund has realised profits of £43 million.
“ Crystal Amber Fund Ltd (CRS) is an AIM-listed activist fund investing predominantly in small and mid-cap UK equities where it identifies opportunities to enhance long-term shareholder value through active engagement with companies. The Fund was founded in 2008, with Richard Bernstein as Investment Adviser. ”
Obviously CA saw long term value in HUR to buy millions of shares by increasing its holdings by 25%...and I trust their investments strategy rather than listening to the drivels posted here by a few clueless posters... Get a grip guys HUR Risk/Rewards has improved dramatically with CA solid support... GL holders
cheese, HUR bond payment/maturity is actually not due till 24 July 2022, which is currently more than 15 months away, and as you correctly highlighted with plenty of cash already in the bank and with rising PoO, plenty more on the way here, GLA: