Member Info for adoubleuk

vijameher,

"Wow what a recovery."

Nice to see. But still early days. The 'hearing' takes place 10:30 UK time on Friday. Trading (and SP) that afternoon could be very interesting indeed.

Nigwit,

" I can't say I know how this will play out now so will reserve any further comment."

Please do. And also I think you should be very careful when using phrases such as 'subverting procedings'.

Sinden888,

Unfortunately your reply from the MO of the FCA indicates that they're going to sit on their backsides and do sweet FA about it. As usual.

Just for info.

Drawing in my correspondence a bit, because some I've promised to keep confidential (unless allowed to release it), and some out of common sense.

However, maybe through inadvertancy on someone's part , I now know who will be the judge at the hearing.

Here's a very brief 'precis'. biography.

https://www.judiciary.uk/publications/mr-justice-zacaroli/

Although I never studied at Oxford (too thick to do so), I was born and bred there, and am glad to see that Judge Zacaroli studied at Pembroke. Very much known as 'the lawyers' college', and thus a hotbed of much fun and iniquity and great parties (back in my day, about 20 years before Mr Zacaroli studied there), so I'm looking forward to hearing what he has to say on Friday.

senseman,

"The 10 May update states that well6 remains producing 11,600 bpd on a standalone basis. the April figures were lower only because part of the time it was producing in tandem with the other well for test purpose etc"

Yeah. And 'open it up' (with a risk of 'going below bubble point') and that could be 20,000. The Aoko Mizu's water-separation might not be too troubled, but the gas-separation could be, plus of course there are flaring-restraints. Unless everyone had their coveralls washed ten times a day, thereby using more electricity, thereby the generators using more gas.

No, I'm joking. But I'm sure you see what I mean.

Nigwit,

"Hasiba, you really need to lay off the xenophobic and rather nationalistic undertones
"possibly foreign", "profitable British oil company" "possibly foreign identity"

Why ?

You really love telling people what they should or shouldn't do, don't you?

Oh but of course, you're just being 'helpful'.

Nigwit,

"The smoking gun is the RPS report and how it was influenced..."

Oh no it ain't. The 'smoking gun' is the recent ERCE so-called 'CPR'. It's blatant. Should discrepancies in previous data have been found, it should have been RPS consulted again. There's absolutely no 'fault' nor 'blame' involved in saying 'sorry, folks, we've had to revise our analysis and outlook'. People would bite the bullet and accept that, probably. Whereas the BoD bringing in a completely new set of hired guns intent on trashing all that's gone before just doesn't work, especially when their 'CPR' is such a bunch of a**-licking stuff with almost no technical evidence as backup.

There's nothing wrong with admitting you've maybe been wrong. But that's not what's been happening here. Instead, a bunch of untrustworthy people bringing in the bulldozers.

Mcbladder,

"adoubleuk - they have $230M debt they haven't a hope in hell paying it back with those production figures"

Oh yes they have, and that's where the plot of the scam deepens, or the muddy waters thicken.

OK, this will get a bit 'techie' but I hope the 'non-techies' will understand my drift, which I'll try to keep simple.

Coincidentally, simultaneously, in parallel with all the guff the BoD has recently published, there's a small bit about 'requesting permission from the OGA to produce at 300 psi below bubble point'.

What this essentially means (if accepted) they could 'open the taps wide' to the possible detriment of the reservoir, and if it meant pushing the FPSO to operational limits, maybe the FPSO itself. But well 6 is quite capable of producing 20,000 bopd, and even if there's 30% water-cut, the FPSO can handle that.

BUT. That sort of 'take the money and run' approach is not the one advocated and accepted by original shareholders.

'Open the taps wide' and produce like stink, sure it can be done. Making enough money to pay off the bondholders on time, and also releasing BP from their offload / selling to market contract quicker.

But then what? Call it a day? Or instead, have it already handed on a plate to some so-called anonymous 'ad-hoc committee of bondholders', who'll have made their money back bigtime and can now do what they want to do with the WoS oilfields ?

Beware.

https://www.youtube.com/watch?v=ZcCjn1QgfzI

Mcbladder,

" Production is going to average only between 8,500 - 10,500 for 2021 too"

Which is about three times more than Premier's Solan field. And essentially from just one well. At a fraction of the Opex.

Alavib,

Thanks for posting that reply from CA, which had escaped my attention in late April. I note that they mention the phrase 'potentially strategic UK asset'. And inter alea, that applies not only to Hurricane's acreage (what remains of it), but all of the WoS oilfields.

Don't get me wrong. I'm no great admirer of CA or that company's modus operandum in general. They themselves would do things to PI's just to their own benefit without batting an eyelid. Though of course, that's their priviledge, and the advantage of being a 'chip-leader' in the game.

But I do get the feeling that their quietness of late is significant, and they're waiting before showing their hand. Which will of course be in the hope that it's beneficial to themselves, but might have a slight positive spin-off effect for PI's.

I don't know. But it's all very interesting.

onthebeach3

"The BoD has stolen our rights and handed 95% of our shares to Bondholders...."

Not yet they haven't.

Continue to fight their proposal.

RNSNigwit,

"Nice analogy... They told you the bearings were wonky last year but you continued to gamble..."

You really don't read what other people write, do you ?

I don't gamble,or play roulette, except at odd infrequent moments. Such as finding a forgotten 100-euro chip in my pocket when leaving the casino, so just throwing it on 'red' on the roulette table, to see what happens. Don't care if the wheel's bearings are shot or the table's got a 15 degree tilt on it.

Funny thing is, the three or four times I've done that, it's always paid off.

Nah, gambling like that on a regular basis is a mug's game. I just like watching the roulette table for distraction, from a distance, when the poker's going slow. Usually lots of action going on, and a chance to ogle the ladies dressed up to the nines and wearing their high heels. I don't join in.

Me buying back in here was just like throwing a chip on the red. Whatever the outcome, I'll still be heading for the door afterwards, to hit the road and get home for bed. Easy come, easy go. Pure fun. Whereas the 8-hour (12 ? 14? ) poker game will have been just hard work.

Writing a snidy complaining email to the Scottish first minister was fun as well. Haven't a clue if it will have any sort of result or influence. But something I've never in my life done before, so why not try it ?

Slift,

"In your own opinion, what do you think your paper (profit/loss) is going to show in 4 days time?"

I don't know, and that's the interesting bit. It's pure gamble, (unlike playing poker) which is against my nature. No control over the outcome. Although no, just a little bit. Sending emails of complaint left right and centre.

In a casino, when setting up the tables before the evening starts, the floor-manager always lays a big spirit-level across the roulette-wheel, twice, to ensure it's OK. Roulette is not something I play. I'm not a pure gambler. But the action there can be fun to watch occasionally, when the poker's going slow.

I can remember three times when a rather improbable combination of 'spins' came up, and the punters started complaining, so the floor-manager came out (at their insistance and the croupier's request) to lay the spirit level over the wheel again, to demonstrate that the bearings hadn't gone wonky. He'd also lean heavily on the table itself, to check there was no movement.

That's all that's happening here. Asking for the spirit-level to be produced.

Hasiba,

The address for Ms Sturgeon is no good unless you live in the S.Glasgow area ! I've received a 'redirect' message to that effect.

Instead, use FirstMinister@gov.scot

senseman,

"many will write believing that what they write will be placed before the judge"

If that's the case, there are some very stupid people in this world. Of course the judge isn't going to trawl through hundreds of emails sent to soliciters' offices.

And yes, of course the solicitors themselves are going to just present what seems best for their client's case.

But in any court hearing, be it criminal, civil, or purely corporate / financial, the judge is obliged to ask if there are any objections to the case being presented, and equally must listen to them.

senseman,

I'm afraid we'll have to agree to disagree.

I reckon that Denton's are probably now cr***ping themselves, wondering what they did getting into a sh**storm like this.

I don't personally have a lawyer acting on this, and nor, as a 'group' do private shareholders, or at least not to my knowledge. But why not write to the opposition? At least it shows we're here.

Also, I see no harm in my suggestion, which is a 'deferrment of decision'. And as you yourself said, Denton could bin my email tomorrow, but the copy remains here, and now lots of people have seen it. So it can't be 'magically disappeared'.

Write to the BoD, you won't get a reply. But aren't the currently 'the enemy' as well? So why not write to their lawyers as well? Just make a lot of noise, disrupt things, cause em' all a lot of sleepless nights due to the fact that there are some very unhappy shareholders baying at their doors.

I've had enough sleepless nights. Now let Maris have his.

senseman,

My post wasn't meant for the judge. It was meant for the solicitors. Think, man, think. What are they going to do? Bin my email? OK, maybe. But don't worry, it'll still be here. Let 'em know that maybe a 'deferrment of judgement' is being proposed, if an adjournment isn't possible. Keep the mothers on the run. Ruin their day. Keep 'em wondering what else we might come up with.

senseman,

"you are writing to the enemy "

OK. So what's wrong with that ? Might make those moth*****kers wonder whether they're fighting for the right side !

If you're into a fight, sometimes it's good to 'engage with the enemy'. In fact a necessity. Nothing in my post which won't do anything other than worry 'em and hopefully cause 'em lost sleep.

senseman,

"Then you need to delete the title thread /your post(s) that have any mention of Dentons, so that only those with the court/judges email are left. Otherwise many forumites are going to be emailing Hurr's lawyers with their representations meant for the judge (ie.misdirecting them)!! What do you think Hurr's lawyers are going to do with them"

Disagree. Lawyers don't care whether their clients are guilty or not. They'll follow the money. And if they feel they're on a 'tricky wicket' will bail out and support the other side, instantly, if their own reputation might be seen to be at stake.