Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Is in.
Trying not to judge the book by the cover, although at first glance looks like something a 12 year old would put together
Website -> Investors -> General Meetings
From the presentation
M&A - Currently engaged with multiple potential targets, detailed evaluations are ongoing
the contents of the presentation are of far more importance
HUR is incredibly undervalued
I think this is the closest we have been to answering what is the plan....
Potential for additional producer on Lancaster, with first oil in 2023
• Opportunity for further development on Lancaster if successful
• At current oil prices could be funded from balance sheet cash
• Would limit alternative diversification strategies (e.g., M&A) in the near term, but could be combined depending on opportunity
• Need to consider the impact of the Energy Profits Levy
Organic Growth
• Provides diversification
• Considering both gas and oil opportunities, mainly focussed on the UKCS
• Currently engaged with multiple potential targets, detailed evaluations are ongoing
• See potential in near term developments where it is possible to recycle cashflow into future growth
• Focus is on value delivery, ESG commitment and regional growth
The one and only positive is that a decision on drilling P8 will be made this summer.
you see nothing else positive there at all?
oil over 115 now...
I agree @DiveCentre - maybe the actual AGM is different, but from our initial questions:
- No apologies from the board
- Nothing about the state of the P6 lower ESP
- Although they state "many opportunities" they list only well 8 and some vague mentions of M&As (Which are a lazy way to spend the free cash in my opinion - I imagine O&G companies are going to be at a cost premium - unless I have read this wrong and they're intending to sell the company?)
- No mention of any dividend
I was hoping at least the well 6 question would be answered...
Looks like that website AGM presentation was cobbled together in a rush ! to pacify private shareholders.
Padded out without saying alot.
Hope the live AGM was better. Hope Maris & Chaffe were made to squirm.
Wonder how the Voting went ?
Wonder if Kerogen showed ?
Webcast online with Q&A https://www.hurricaneenergy.com/investors/presentations approx 17 mins in
Thats last years results presentation +Q&A not the AGM
I didn't expect much but this company just doesn't care. No self held shares, no interest but to pick up cheques each month. How after this long do they not have 1 or 2 plans, laid out with clarity. Same old here
I quite like the presentation brief and no fancy waffle - doesn't say much apart from:-
- P8 looks like a good bet and a decision will be reached in roughly the next 2 months (under the current circumstances I doubt there would be much resistance from the regulator so I expect this will go ahead unless outstanding M&A opportunity presents itself)
- there are a companies out there with good assets but not enough cash to complete development, and we may well do a deal with one (or more) of these that will quickly be accretive to shareholder value
Looks like the next 3 months will be very interesting (and hopefully rewarding) for those that choose to buy or hold.
Why no reports from our attendees at AGM ? Have they been cancelled ?
That's what I'm surprised about and waiting for littlened. Maybe it was so distressing being with Maris they are in the pub getting hammered now.
If PVR get their licence renewed could Barryroe development offer an opportunity to hook up with HUR?
It is currently stirring speculation with some big share movements over last few days.
perhaps Kerogen assassinated any dissenting shareholders
I'm also slightly wondering how inebriated Senseman is... was expecting an update from him pretty quickly....
Unless they all had to sign an NDA and can't say anything until the markets close.....
ROFL
Think your find they have been relaxing and chewing it over with a few pints…after I’m sure was a frustrating meeting…
It doesn't make sense, man, to be drunk. It's Wednesday day time. Where are they!
Perfect day to have a few jars of the old amber nectar :)
Good luck to them of they are getting squiffy, deserve to fro rallying the troops
Not really share price affecting if all down the pub. I wish was but have bloody Covid !!!!!
Or they are getting AM and the BoD sloshed to get some extra info out of them. Wouldn't put this past senseman
"It doesn't make sense, man, to be drunk. It's Wednesday day time. Where are they!"
That list of 10 questions has grown and they are still in Q&A