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Mine were all freshly typed. Every NT beautifully crafted :) speechmarks boy.
Projection much? Your NT posts are the only copy and pasting going on around here.
lol. lazy copy paste reply.
"Idle chit chat" says the dude who posts regular updates on how his attempted dummy buys are all NT. Our idle chit chat is actually quite interesting compared to that! :-) I agree that we need RNS news though.
Idle even.
Plenty wads of cash to slap the CBs around with if production holds.
Blah blah blah
Wait for RNS
Idol BS chit chat
Thanks RNSTranslator, that's a very interesting and useful explanation. It's interesting (and somewhat concerning) just how much the BoD may be constrained.
Agreed RNS this is a race against water cut hence the SP .
Any remedial work Side tracks ect into 2022 in my opinion shows confidence that existing production has at least 12 months . Which open's the Door to early settlement .
Contract with A.M. as i would understand is a per barrel rate which at 11k for 12 months is fine Would also presume a Minimum monthly premium in place .
Brent price has saved Hurricane as stated many times and agree that a Discounted early CB settlement is now priority .
Ricardo
As you rightly point out the Bondholders hold most of the cards here, because they do.
There is a summary of some of the CB covenants on the website one of which which forbids HUR raising other debt.
This means that they have to be particularly careful in committing to activity that might overrun as the only option they have available to raise cash is via an equity raise. So the Board are in an especially difficult position (in part their own making for letting it get so bad in the first place). I take this to mean that they need to have sufficient internal funds to:
Undertaking new operational activity. (Sidetrack/Injections etc)
continue to Pay the lease/charer rates for the Am
Other obligations and costs etc etc
This needs to be sufficient for the Auditors to approve they are a going concern. I don't know, but expect any audit qualification will probably trigger a covenant breach. Of course the higher oil price will be helpful in allowing this stuff to happen more easily, but the Bondholders will also see it as a way to potentially increase the chance for getting their repayment in full....
Also, if there had been any dynamic good news it would have been RNS’d or leaked by now. Plum jobs in the oil market are not abundant right now, so HUR BoD feel it’s very important to not say anything and keep taking the fat cat salaries, perks, pension, options etc etc.! They have never cared for PI shareholders. They just want your money and market liquidity.
Micheal have you ever thought that investing just isn’t for you, I notice that you have only recently opened an account here why is that?
In the last few rns, HUR hasn't mentioned the word SHAREHOLDER. That worries me, as similar thing happened before Debenhams went bust, same story with Carpetright and also Sirius Minerals. Combined l lost £50k in those 3, and now HUR 85% down, about £17k in loses.
This represents an opportunity! Markets are never rational but usually forward looking, and with patience, HUR will IMHO massively re-rate upward this year, as now truly significant tailwinds are unexpectedly present for the global O&G industry, and no matter how one looks at at it, HUR will also undeniably hugely benefit according. HUR SP today represents notable Multibagger potential here which can often be ignored by the markets until....a simple spark, and a better than expected CPR or production here could just provide what’s needed, also noteworthy that by the looks of things, HUR BOD have now fully avoided dilution, DYOR, and GLA.
Error. ... ? Should read. ..2/3
Thanks for your reply Ricardo2019.
Cheers
Michael - Having been in the same long position as you I have felt the same frustration. I have now very recently sold 200,000 shares being ? of my holding. I kept 100,000 shares in case it does ever get back to cost. In which case I’ll hold well past the 30p to recoup. The funds from the 2/3 sale have gone into a Hydrogen motor co called PPS ... (DYOR)). The reason I gave in was purely the lousy management and lies throughout. Should have sold years ago, of course.
My guess is production is screwed.....WTFDIK ?
To add.. I just realised it can be put more fundamentally. The reason the SP is so low is that the only stakeholders that are financially secure in this company are the bondholders and the BoD (plus any bank creditors). The shareholders don't have that protection - hence the price. A revised CPR and secured financing (assuming not dilutative) will give us shareholders what we need and the SP will rise.
Because the oil price does not drive HUR SP. That's why. What has driven the SP was a massive decrease in oil reserves and the threat of dilution (and ultimately, very worst case the end of the company).
What will de-stick the low price? An improved CPR certainly. Some people have argued that the threat of dilution is over. I'd like to hear from the BoD on that, but let's hope so. It's probably still a factor in the low SP.
Why Hurricane is stuck at all-time-low?
Brent isn't at all-time-low.
HUR 2p, 3p or 4p... Hard to be optimistic when my average is 30p. So from theses levels, HUR needs to climb around 800/850% just so l can break even.