Member Info for acrossthesea

Irrational panic,

Would like to buy back in but with a £500m RI in the wings and a £160m market cap the dilution will be brutal,

Cash in hand very close to Market Cap. Could be a few more rough days, but only heading one way in the long term, great not to be carry lots of debt.

Have always been very positive about PMO. Unfortunately with current share and oil price and a large Rights issue in the wings it is difficult to hold these just now.

Saudi look like a busted flush, maximum previously pumped per month 11.30mbpd. Big talk early showing a week hand.

Overview
In July 2017, Hurricane issued US$230,000,000 in 7.5% convertible bonds due 2022 (“Convertible Bond”). The Convertible Bond was issued at par and carries a coupon of 7.5%, payable quarterly in arrears. The Convertible Bond is convertible into fully paid Ordinary Shares with the initial conversion price set at $0.52, representing a 25% premium above the placing price of the concurrent equity placement, being £0.32 (converted into US dollars at USD/GBP 1.30). Unless previously converted, redeemed or purchased and cancelled, the Convertible Bond will be redeemed at par on 24 July 2022. The Convertible Bond was admitted to the Official List of International Stock Exchange in September 2017.

https://tradingeconomics.com/saudi-arabia/crude-oil-production
Do the numbers for Saudi. January 2020 production 9,733,000bopd at average oil price $63.83=$621,257,390 oil value.

The highest ever Saudi production is 11,093,000bopd let us assume this is still possible and do the numbers for them.
11,093,000bopd oil@ $60 =$700,618,800

11,093,000bopd oil@ $50 =$583,849,000

11,093,000bopd oil@ $40 =$467,079,200

11,093,000bopd oil@ $30 =$350,309,400

Oil will not stay in the $30s and $40s for long.

https://www.windy.com/60.087/-3.340/waves?57.927,-3.340,5,m:fljaf3A

weather link : https://www.windy.com/60.087/-3.340/waves?57.927,-3.340,5,m:fljaf3A

The Huge difference between ENQ and HUR is the debt, Hurricane have none, and in over two years bonds that will convert to shares at 40p if not repurchased before. The undeveloped resources for Hurricane is the dream of its peers. There has been a concerted efforts to undermine HUR's share price, this is a familiar process seen with Ithica Energy and Premier oil. In the end Hurricanes resources and low cost production will see this share in three figures.

This article by proactive is part of a campaign to drive the hur price down, there is no comparison with these companies, hur is just starting as a producer and has thr reserves to produce above all the companies used for comparison, it also has the revenue steam to do this, although slowly to begin

No debt, bonds due 2022, and paid off by issuing shares around 40p

This volume and interest, somethings happeninh

https://www.hurricaneenergy.com/investors/convertible-bond

These bonds are being repaid in shares at price $.52 dollars per share, approximately 450 million new shares in over two years time.

Resourses for Lancaster alone.
In total, this attributes a Base Case recoverable resource of 523.4 MMstb to the Lancaster Field within the P1368 Central licence subarea. Shares in issue equals 1992 million.
Let us do the maths, 523.4 MMstb * $60 =$31404 million operating cost per barrel $20. $20936 million to share holders or $10.51 per share.
Based on the limited field production from Aoka Mizu FPSO and just two wells designed to prove the concept for full field development.
62.1 MMstb * $60 = $3726 million operating cost per barrel $20. $2484 million to shareholders or $1.25 per share
So just on the proving up concept the company is valued a small fraction of its future value. This is why there is so much energy going into drag the price down.

You are missing that market manipulation is an on going game. Companies with great assets and future growth potential are targeted, a concerted effort is made to portray the company in a bad light, shares are shorted on the way down. Many traders are leveraged and have stops in place. The price comes down to a fraction of the asset value the big players pile in. Two recent examples Ithica Energy driven down to 20p in January 2016 bought out for 115p Feb 2017. Premier oil taken down to 19p January 2016 on the reverse take over of the EON assets now trading at 107p. The market is a game, understand the rules, value dictates in the end and HUR has a huge amount of oil, the numbers will win in the end.

looking at the market this morning, stop loses be triggered, get you HUR shares at give away prices!!

Do the maths CGH has around 1.3bn shares and at 5p this would equate to £65 million when SBLM was de listed the value of the company was around £2 million.

There is no chance for a a one CGH share for on of the new listing, will be lucky to get 1 for 10.