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After all the hype, HUR is proving to be 'just another AIM O&G company'. Have held on and off since 2016 and am now back where I started. Made some profits along the way, but the latest fall from 45's to 25's (....) in just a few months could eat all that. And what is management doing to try to halt the share collapse? Nothing - too busy looking at maps.
Investors here have hit hard at CA's suggestion of a SBB due to it being an inefficient use of capital. Well, we have had 4 years + of efficient use of capital and where has that got LT investors? I assume CA is behind ALM's 20% special dividend distribution - that too is an inefficient use of capital, but I imagine that the (also long-suffering) ALM holders are not complaining about the payment.
I think your comments are unfair.
First, the HUR management is not responsible for the whims and fickleness of the market.
Secondly, spending profits on share buybacks would result in a new scare story that HUR's cash is running out.
According to some posters' logic, the management of a badly-run company with a high share price would be considered to be doing a good job.
LW,
Of course management does not control share price - but when a SP utterly collapses for no apparent reason, it has a duty to its shareholders to try to calm the troubled waters. Silence implies there is a problem.
A SBB implies that 1) management itself believes that the SP is too low and 2) the company has excess cash with which it can buy the shares. It is seen positively by the market.
'Silence implies there is a problem.'
(MP)
When JOG had fallen from 399p to 57p, a poster said that it was obvious 'FROM THE BOD'S SILENCE' that the BOD didn't 'have a clue what they are doing.'
Shortly afterwards, the BOD of JOG announced game -changing license awards.
You are quite simply wrong!
It reminds me of Double's observation, when the present share price fall was gathering pace amid a mass panic about water, that most people just didn't understand the issue.
silence does not imply a problem.
Do we really want Trice checking SP all the time and reading BBs to see the latest deramp? or do we want him doing what he does which is sorting out the geology stuff? testing...get oil out of fractured basement
if there are no issues why would he be worried about a temporary blip in price? he is probably just sit there saying "meh I have told them if they do not believe ...fine...they will see."
I have seen some twitter stuff where they are desperately quibbling over semantics now..."confident " has been written so this does not mean fact and therefore it is all water!..
You just have to look at trices character. he is understated..he never promotes but is always on the cautious side. if someone like him says he is confident you know that he is 99.99% sure.
so yes there is always a possibility but then so is there of a giant squid humping the rig.....it is being overstated .