Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Market cap = £145m
Monthly free cash flow = £30m pcm
End of July cash after bond retirement = £70m roughly with oil at $110
£150nm for 4 months to end Dec
70m plus 150m
end of year cash balance = £220m
cash balance will cover the entire market cap by 1.5x....
you can play with the figures but by end of year the entire markep cap will be covered by cash and much mor..that war chest gives HUR real buying power to develop Lancaster further and seek out other assets
It would also mean any offer will need to be soon if the buyer wants a bargain. The end of the year offer would have to 20 plus but I think a 15-17 offer table now would probably be excepted.
Interesting times on what Hur Bod do or not do, they have so far been successful at keeping the sp low, nothing else.
I am still hoping for a fwp soon, which could be transformational in many ways.
'we anticipate positive asset cashflow into early 2024; and an additional successful producer would extend that to mid-2025." Canaccord, 10 June
I reckon they'll develop Lancaster with FCF. The free cash-flow from a developed Lancaster would run into hundreds of millions over a multi-year period and all thanks to P6
This company's a cash-machine..no wonder Kerogen tried to nick it
I agree it would be good for us if the geo and drilling goes well. First we need our BOD to pull it together.
schlemiel, Thats the million- dollar question, if the company is so bad why were the bond holders so desperate to steal the company when oil prices were around $30 ? It's still not been answered and the company is in a lot healthier position now than it was back then.
NST - exactly..thieving feckers
Listening to Maris and his upbeat forecast for P6 then total free cash in the next 18 months should be around say conseratively around £20m then you're looking at over £360m pure free cash after costs
'we forecast this to be at least 18 months from 4 June 2022. '
Antony Maris, Chief Executive Officer of Hurricane, commented: “It was key we found a mutually acceptable deal that will enable the company to continue production beyond repayment of the bond. Based on the current oil price and field performance predictions we forecast this to be at least 18 months from 4 June 2022. '
And I believe Hur and BP have negotiated an uprfront cash facility that will allow HUR to take cash before -
'In addition to the charter extension, the company has negotiated with BP Oil International, the purchaser of its crude oil, a facility that will allow for cash to be advanced ahead of a lifting. This provides the ability to create more frequent cash receipts and assist with the company’s working capital. The facility incurs a financing fee that is only payable if the company uses it.'
https://www.offshore-energy.biz/hurricane-and-bluewater-agree-on-charter-extension-for-aoka-mizu-fpso/
The idea that P6 is about to run dry is a pure lie..it's got another 2 years in it and I bet more
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I held a million from around 5p and sold in panic when Maris made his now infamous comment about P6..that cost me £50k and more..I won't make that mistake again
"The idea that P6 is about to run dry is a pure lie..it's got another 2 years in it and I bet more"
The worry is the pump - not the reservoir which is behaving predictably currently
The Company has a single point of failure - which they need to address by getting more producing assets ASAP