Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Longwait,
"I realise that I am running the risk of being accused of ramping"
Not in the eyes of anyone reasonable, you aren't. This board is recently overwhelmed with 'derampers' (which by rights is against LSE 'posting rules' but seems to go unnoticed by the moderators) whereas I see few people saying 'buy now!', which might be construed as 'ramping'
I'm just keeping calm, wishing that the bank would hurry things up so i've got the cash to top up at this ridiculously low price, but not encourageing anyone else to do the same, 'cos I'm not a 'ramper'.
But I do know a gift horse when it's looking me in the teeth. The current SP is insanely low.
I think DSPP's ramblings may be related to an unfortunate and all-too-common mental disorder, characterized by a remarkable unwillingness to drop a subject or admit to being wrong.
You said, Double, something about DSPP not working for HUR and therefore not having access to information; DSPP put it even more strongly, suggesting that RT thinks he is talking nonsense - which he evidently is.
In spite of these facts, the fool (pun intended) simply will not shut up, though I notice that he doesn't dare appear here any more.
Doom is, however, not to be found everywhere.
On ADVFN, they seem to think a bottom is forming, with one poster commenting:
'There is lots of interest at this level as its very very undervalued and it will rocket one of these days I'm convinced of it. I thought the 20s was mega cheap'
I realise that I am running the risk of being accused of ramping, but when you consider that a rise of 117 percent would take the price back to the placing price in 2017, when the price of Brent was 15 percent lower than it is now, and that people who bought then didn't think that HUR at 32p was overvalued (or even 'probably' overvalued), it doesn't seem much of a ramp.
But then, in June 2017, people weren't worrying about water cuts, whether the daily production had really increased to 20 kbopd, whether the oil in Lancaster would last more than nine months, whether we would soon be flying to the tropics in jumbo battery-powered jumbos, or whether the entire world economy would collapse due to yet another Asian virus yet again promoted by the professional doomster dailies.
I am not optimistic long-term and would cite the fate of the dinosaurs as an example of what awaits any species, but I still think the HUR project will be successful long before our extinction even approaches, and we will ultimately be rewarded for our perseverance (although I wish I had waited another five years eight months before I started investing in HUR).
Wessexmario,
Sorry, I missed your first bit.
"I can't believe that there's been so little counter to the nonsense that dssp is posting there. "
That's not true. There has been plenty. Not just on BB's, but from the company itself.
Though hang on, TheLemonFool isn't a BB as such. It's a privately-owned site, of which Dspp is a 'moderator', and which became (as mentioned by myself a few weeks ago) a limited company back in November.
'Bad men need nothing more to compass their ends, than that good men should look on and do nothing.'
John Stuart Mill, Feb. 1st 1867
Wessexmario,
Good to see you back, sorry to see we got a bit cross-threaded the other day, but no sweat.
"He's(Dspp) either continuing to try to spook everyone (in which he's probably having a little success, as they seem to be lapping it up rather than constructively criticising it), or (and I'm coming to think more likely now) he's just still frantically trying to convince himself that he isn't suffering from cognitive bias and that his improbable and unproven hypothesis is right. "
I've followed your ongoing discussions on TLF. And I'm glad to see that you now appear to reckon that the fermongerer is fighting something of a rearguard action, even (as 'moderator' of that site) moving the 'bonds issue' (what issue?) to a different place, so more difficult to find.
Regarding his latest posted graph, it is in regard to a completely different geographical locality, and completely different geology. So like comparing apples to watermelons. Furthermore, there was absolutely no mention of the source from which such 'data' were obtained, so the thing is worthless.
Some people here mention this share having been 'manipulated' and beaten down to its current level by persons unknown, with a similarly unknown agenda. (Though it's sure that making money for themselves is not unconnected with that plan.) And others have pointed out that the current valuation of Hurricane's real estate is essentially zero. Which is ipso facto absurd.
But of course, the 'trolls' and fearmongers continue their crusade, trying to convince people that HUR is some sort of scam run by liars and incompetents, out to steal money from ignorant PI's.
Sure, there are any number of those around on AIM. But I don't think Hurricane is one of them.
there is that, but... "evil is done when good men do nothing".
Perhaps most shareholders have better things to do than spend their time reading fiction on Lemon fool wessexmario
Without naming names, this whole phenomenon of people rubbishing HUR and JOG, accusing honest company directors of being crooks, dismissing the shares of well-run companies as worthless, ridiculing genuine investors as gullible idiots, and predicting disaster at every opportunity, seems to be a symptom of a sickness of our times.
You may have heard of the accusations made against certain MPs on social media, which led to criminal prosecutions.
There really does seem to be a widespread virus, dedicated to dragging good people and good companies down.
"there's more negative vibes on water cut again at TLF today. Unfortunately."
I can't believe that there's been so little counter to the nonsense that dssp is posting there. He's really grappling at straws by trying to compare 40 year old production characteristics of a fractured standstone reservoir with the fractured basement reservoir at Lancaster today.
He's either continuing to try to spook everyone (in which he's probably having a little success, as they seem to be lapping it up rather than constructively criticising it), or (and I'm coming to think more likely now) he's just still frantically trying to convince himself that he isn't suffering from cognitive bias and that his improbable and unproven hypothesis is right.
And malrees, I sincerely hope you are right. 100% I do.
Fred_Bloggs, So on TMF they show poorly explained graphs from 1976 to 1988. The fields aren't comparable. We know a great deal now against 30-40 years ago concerning FB. Bach-Ho alone has taught how to produce over 1m barrels of oil after water breakthrough occurred early on. We now know that Bach Ho was poorly managed in those early days and DrT's team know a great deal about water management after breakthrough. I think we can ignore any data from FB fields from over 32 years ago.
Indeed, there's more negative vibes on water cut again at TLF today. Unfortunately.
I don't agree.
The market has sold us down to these lvels bcos ;
1. Spirit's situation has let them unable, or unwilling, to commit to progress on Lincoln/Warwick.
2. The OGA, inexplicably, has ordered a (possibly reversible) P&A on the Lincoln well, and required us to relinquish Whirlwind (for no good reason I can see).
3.The OGA, again, has insisted on appraisal, rather than production, wells being drilled on Lancaster (tho it seems one will likely now be a producer).
that means a book entry (non cash) w/off in 2019 of c. $60m (?) re Whirlwind ; and a capex program of appraisers in 2020.
However, all the above still leaves HUR, imho, with a desrrved MCap well above current levels.
The big driver down from 30p level, again imho, has been the constant doubting of the water cut data and HUR's interpretation, largely by posters om TLF with a level of technical expertise beyond most PIs. This has led many to worry that Lancaster will fail to met expectations either of production or reserves.
HUR have, again imho, done what they can to quell these doubts, and their statements (and in context, lack of them) are saying there is no problem, the reservoir is performing as expected.
But all the other issues, even PoO, can be placed on one side for now. If, as I believe, HUR know what the reservoir is doing far better than the doubters on TLF, this is a screaming BUY. If you believe the posters on TLF, you shouldn't be here. Simples.
yip - the non producing wells valued at more by the market than the one that actually is....
this will bounce back
..basically wiped off 40p per share for our two none commercial Warrick wells and two relinquished licenses and left us with 14p per share for two producing wells of 20K+ bopd and the Lincoln well that can produce 10K bopd and 2bbls OIP.
Funny that isn't it?