The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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One very noticeable difference is the style of the RNS's since RT's dethroning. Previously all were concluded with "Dr Robert Trice, Chief Executive of Hurricane, commented:......" whereas in those since the interim CEO has made no comment. I'm looking forward to the Interims which will have to include some personal statement by her and which might give us some clues as to her perception of the Company and what it expects to deliver for shareholders.
Also looking at the difference since late last year.
1)Board replacement - whilst it was trice baby I think he was left wanting in running the company. Errors that have damaged the market cap/ poor communication skills / clearly difficult to deal with. Treating the business like his own personal chemistry set. New board more corporate focused . So far done what they say they will do.
2) market cap 90% lower - more attractive takeover proposition
3) main obstacle to selling company gone
4) lot more oil produced
5) giant squid has behaved and not intent on destruction as previously predicted
6) oga seem more on side again
16.39, I get my post recommended by my own other user name, see how crked I am. HA HA HA .
Pecten11 90 odd % of users to be found on this BB can't evidence anything..... other than day, night and a bad night.
Swift, you were the one trying to propagate a point of view, not me, but when asked to justify that POV with evidence you didn't/ couldn't - not exactly a convincing way to win an argument
Good info Slift, I only posted in order that newbies looking in here could perhaps get a heads up. They can make their own minds up.
Why would anyone who despises this board still post here? Takes all sorts I guess.
JAdam,
What I posted was only the risks from a previous post. The original post was pretty balanced.
I mean "the negativity is boring.." right? So why would I post? You can do your own research. You have access to the same materials as me. I'm refusing to post because I despise this board. That's all.
Greenmachine67,
I look at three things Greenmachine67. Positives, risks and value before investing. I've stopped posting anything useful anyway. Better stop reading my posts then.
Pecten11,
Do your own research. It really wasn't that hard to go find the image from one of the presentations. I honestly couldn't remember exactly which presentation it was, hence why i cba. Don't expect everything without some legwork yourself.
One thing I would agree with him on though - what used to be a good bb, that used to regularly have good debates (backed with evidence) has sadly deteriorated
Gm67, it's exactly the same as when I challenged him last week to provide evidence or a link to back up his position re a diagram he admitted he'd edited to show his own interpretation - the reply - 'I can't be ar%%d' - 'I'll keep my research to myself '
He/she has always been a negative agenda poster - albeit more subtle than most, but petulant when challenged
Slift, having read all of your posts since you first appeared I have come to the conclusion that you're no more a shareholder than my granny is ( and she died 20 years ago). No investor would touch this share with a bargepole with such a negative slant as you....... I'm all for playing devil's advocate but you have no upside view that warrants investing, even at 6p.
SILLI F, 16/04, You are totally negative about HUR, SO WHY DO YOU WRITE HERE, just go and play with marbles or fly a kite, wind permitting. you do not like HUR so just go away and stop your negative posts or you get paid for doing so.
slift - thats a shame as i suspect many would be interested in your research - i think you make very good contributions and are well balanced. personally i am always happy to see views from the other side to test if i still think i am investing wisely or not...however i understand that this board can be draining. pity as there is so much that everyone could gain if people just were polite and listened etc..
Snaffleman,
I hold quite a few number of shares here. I've invested based on these risks i've posted and it's on me. I despise this board, I was simply answering his question.
I don't believe any one of you have any influence over this share price, so makes no difference.
DiveCentre,
It was just copy and paste from before.
CaptainSwag,
Good points.
Tbh, I don't believe MOST of those points (that i posted) are even that relevant, most can be easily de-risked.
As a shareholder, the biggest risk I see is the concept, the structure. I'd go into more detail but i'd rather keep my research and knowledge to myself.
He’s not, put some money in this a few months ago. Still holding on, even if I have to wait a year I think it should be back to where it was eventually. Fingers crossed
Mmmmm, So, now what is coming back to us.....
Orchestrating something to counter attack....
slift -
Uncertainty to production (no guidance) - late last year they were still testing wells individually and there was never any certainty on what production figures would be. Yes there was an goal but it was still very much in testing phase. personally i was more nervous then because we had only just started. We have had continuous production for 7 more months with no stoppage even though there have been issues
- Increasing water cut - yes
- Downgrade of reserves/resources (due to model review and shallower oil-water contact) - as soon as the poor drill results on GW there was always going to be a downgrade on contingent resources as well as relinquished licences - this was known and priced in with the collapse in SP at the time. Trice indicated more oil at lancaster at CMD- which is what really counts in my book
- No solid evidence or confidence to support concept (struggle to find JV partners) - production of a lot of oil has supported concept... even with water cut...we are a producer...we don't know what is going on in regards JV
- Aquifer/perched water that will disturb Lancaster production - this was already known about end of last year but as you say water cut has increased - though latest RNS says well 7 is stabilised so hopefully might improve.
- COVID19/Oil price - still depressed and market is uncertain - agreed real curved ball but it is the same for everyone
- Uncertainty regarding Lancaster FFD, HUR need a partner. - it was uncertain last year on how to move forward but i agree that previously they could have planned to possibly go it alone with income - however covid/ oil price has probably stopped that - for the moment. if the oil price continues upwards it will certainly be interesting
- $230m Covertible Bond maturity in July 2022 - that was already known about last year. though obviously 7 months nearer
- Large CAPEX requirement for 2021 - personally i hope so - would love to see drill well 8 at lancaster
- No forward activity work programme provided. Unclear the direction HUR are willing to take. (Future costs unknown) - this will be announced prior to sep 11th
Slift
You cannot include $230m Covertible Bond maturity in July 2022 as a difference. It was created by the fund raise in 2017 and has remained unchanged since.
As to needing a partner yes that is desirable and is part of the purpose of the EPS. It is no secret that the Company want a partner but they have to demonstrate that they can develop without a partner and this continues to be the case. It is no different to last year.
Hes obviously answering one of his alias,s....
Slift you are so relentlessly negative about Hurricane that I find it hard to understand how you can consider that there might be a limited upside here. I wonder why you continually post negatively on a share that you clearly think is hugely risky and has limited upside. Surely there are better opportunities elsewhere to spend your time on
It's another double act appeared.....so obvious
Hell....your digging deep....Hope it's worth it .....
"is there any difference for the company with the exception of trice leaving between now and late last year?"
Yes there is.
- Uncertainty to production (no guidance)
- Increasing water cut
- Downgrade of reserves/resources (due to model review and shallower oil-water contact)
- No solid evidence or confidence to support concept (struggle to find JV partners)
- Aquifer/perched water that will disturb Lancaster production
- COVID19/Oil price - still depressed and market is uncertain
- Uncertainty regarding Lancaster FFD, HUR need a partner.
- $230m Covertible Bond maturity in July 2022
- Large CAPEX requirement for 2021
- No forward activity work programme provided. Unclear the direction HUR are willing to take. (Future costs unknown)
Since wells are back on track and production is going good, is there any difference for the company with the exception of trice leaving between now and late last year? If not why are people so hesitant of share price reaching back to 40+ considering oil is on the rise?