Member Info for Alavib

Tux
Very well put, and to think that this corrupt BOD have all of a sudden starting to communicate with the market via their meaningless RNS’s shows how desperate they must have become specially since the shareholders resoundingly rejected their scam
With the POO over 74$ now this Company in the eyes of the world, the shareholders and even the judge is now perceived to be a very viable and profitable company which under a more honest and decent management will flourish and move to new highs
This BOD know full well that their scam is well exposed their days at the helm are numbered and they can’t find a single credible reason to even think of such open and obvious scam
The court will see this also and once the scam is rejected and binned we can move on to EGM on July 5 and vote for all 7 resolutions proposed by CA and get this useless deceitful dishonest bunch out where they will never be trusted to run another PLC company for good
The power of people in getting justice must never be under estimated together we have come a long way and have by all accounts stoped these thieves stealing our company
The FCA must now conduct a thorough investigation into the actions of these corrupt people and bring charges against them as it is now clear as the day light that this BOD is not fit to run any company and must be brought to justice
GLA

Yes, the reason is their cooked scam, have you ever asked yourself as to why this BOD had not once mentioned the positives on POO to the shareholders? Cause this was the last thing they needed to get their scam through
If these directors had an ounce of decency, they would give update to the market that the rising POO will help company to move forward , but read their second RNS today they use any opportunities to dilute any good news with more bad news
I.e the production is back up to 11000 per day but this will decline soon!!!
What other reasons do us shareholders need to vote these crooks out? Ask yourself

PS, I meant to say 80 million fund raise not 83, still an odd number tho

Like most of these AIM listed companies, RNS’s never tell the shareholders the true story
For example where did the need to raise 83 million came from , why such an odd number?
Also with the loan book of 300 million and going well with growth in lending why the need to raise such odd amount?
Remember that Amgo will return with SOA2 and hopefully that would get approved by the FCA and hence the court, so why not wait for that outcome before telling the market they are going to raise capital in 3-4 months time? Why not let the business of lending to pick up as monies collected can be relent so with the cash in hand and monies coming in they can easily keep the business going until the Amigo can get FCA approval and then NSF would be in the same boat and they will know what to do and how much it would cost
Today RNS was very badly prepared, instead of the good news about lending picking up they spoiled it by slipping in the fund raise
Sometimes I wonder about the management of these companies, their untimely RNS has caused 18% drop on most under valued SP in the sector and this could have been handled better

In the good old days of a company announced a 528 million contract win the SP on such contract win will be marked up 25/30%
But here we are faced with a markets which see CPI as jam tomorrow still, so all these new contract wins must add up to healthily bottom line, and unless and until markets see that in black and white the SP will hover in 40/45 P range
This company was supposed to be a classic turn around but three years have gone and nothing had turned around as the SP tells you the same story
So all eyes are now on the end of the financial year end results if the numbers are good then we can see 60/70 P in short term and if the prospects for cost cutting and more profits are all in place we can see 90/100 P in medium term
But all eyes are on the next set of results first these come to disappoint then we are back down to 30P and will stay there till things improve

What would have been a better process by this useless board was to pay 50% of the CB holders debt and make that conditional on the maturity date to be extended by another 3 years
Since the CB holders have been receiving 7.5% interest in the last 4 years and still another year to come the 50% payment would mean they will get over 85% of their money back and by committing only 15% at risk for another 3 years given that they will receive another 3 years of 7.5% pa of interest on the 50% still owed they will have very little to lose even if things turn for worst
This way the company will only have to commit 115 million by next year and use the money earned for the next 12 months to carry on work overs and in process increase the production and even access additional resources to bring to more production
And if things go to plan and the production is increased to 16/17000 boo/ day they can even pay the rest of the CB holders debt earlier than in 3 years
Now would’t any decent BOD at least would have considered such reasonable option and put that to the CB holders, knowing that even if the company was to fold there would be sufficient tangible assets to for the CB holders to get most of the remaining debt back?
This is what is called forward thinking and pure robust management
Something this BOD have lacked from day one but very good at deceits and scams
Please vote to get them out, they have proved they are not there to protect shareholders value and as such have no right to remain and draw far salaries
It’s all in our own hands now we are the owners of this company not these scammers and incompetent lot

hasiba,
Well said , someone here mentioned that the cost of production is max 22$ per Burrell which means on a daily production of 10000 Burrell there will be a over 500000$ daily free cash flow
Multiply that to say 300 days in a year allowing for shut downs maintenance etc will give over 150 million $ of free cash add the 140 million already in the bank will make over 290 Million $ of free cask
Pay the 230M$ loan off leaves over 60 for work over and increase production to say 15-16000 Burrell per day
With price of oil going towards 80$ this company will have cash coming out out of its ears
So all and all these figures prove the depth of the scam this BOD are trying to achieve
I am sure the judge will also see these figures and will reject the scam once and for all
The next step is to vote these scammers out and install decent , caring and honest BOARD to put the company’s shareholders interest first and move this company to its potential value which in my honest opinion is north of 50P to start with

I do hope that the Jude on June 21 hearing will take into account that since the first hearing the POO has risen by over 8$ per Burrell, meaning HUR even more solvent than before and this POO is set to hit 80$ by end of current year but maybe even more
Even at current level HUR will have made enough free cash by July 22 to easily pay off the CB holders loan so why on earth they still insist on such stupid idea of winding the company down if their scam is rejected by court is beyond any reasonable sound argument
Which I am sure both CA and now hopefully the judge in the case next week must have seen and taken into consideration for their response
The BOD now have no where to run they have been brutally exposed and it is like a day light that what they are trying to achieve is not short of corporate piracy and they will be held responsible for their so stupid action thinking they can use some company law to leave shareholders out of their scam and get it over the line
But it all backfired and now with the POO going up every day they are even more screwed

This bunch of incompetent useless crooks just don’t give up, even with their own admission (RNS2 today)
The producing well is pumping out on average 10000boo/ day on natural flow
The oil price is north of 73$ and they recently shipped out over 1/2 million barrel all pointing to an alive and kicking oil company
And yet they still stick to their scam and threatening to wind the company down if their scam is not approved
The free cash must now be well over 160 million $ by now and the June lift could bring in another 20 million or so but they still talking of winding the company down if the scam is rejected by the court as well
These people have no shame no dignity no respect for the shareholders and a company built on such massive bright future, and they just want to give it on a plate to CB holders even though the money in the bank and what is coming in will be more than enough to pay the CB holders in 12-13 months time
This all points to nothing short of conspiracy and foul play
The sooner these low lives are out the sooner the company can start building up trust and a bright future not only for us shareholders but for UK and the employees of the company
Please please keep on fighting vote for June 30 and July 05 we won the first one by a mile let’s do the final ones too and get rid of these crooks before they can do more damage to the reputation of this great company

It was very obvious that both the judge in the court case as well as the FCA never thought AMGO was in danger of folding
All they want now is for the company to propose a better outcome for the claimants and of course the creditors
I am sure the BOD must have considered such outcome and have had a plan B in waiting
We as the loyal holders not the day traders must now stand back and stop ramping or de-ramping and allow the BOD to consider all their options and future business plans and propose a revised SOA which I am sure if it is better than the last one both the court and the FCA will accept and AMGO2 can kick in and take the business forward by lending again
No judge or indeed FCA would want to see the company folding with 400 redundant workers and the creditors and claimants receiving nothing, this is not on their agenda
So let us all pull back and give the Board time and space to work out an alternative SOA and see where we go from there
GLA

Totally Agree
I wish I was a fly on the wall in their Board room meeting , I can see them all totally screwed and no where to run
The justice is about to be served , these crooks were attempting to steal our company but never thought the real owners of the company will just back off and let them get away with such massive scam
Thank you to all loyal shareholders who have put up a massive fight against these unelected BOD and exposed them to the open, everyone now knows what they were trying to do, to steal the company with massive resources which they by their scam have tried to write down
Believe me oil is there and by much more than the latest CPR report,
We are about to win and the unelected crooks are about to lose
These crooks are well exposed in the market place and once they are voted out will never be trusted to run another company
Thank you once again to all shareholders of HUR who put out a lot of efforts and wrote to many influential people
Results of which is out in the open
These crooks never dreamt that their scam will be so exposed and they have no planB??
They are finished and soon we will see back of them and I would say good ridden

Fantastic response by the true shareholders, we have been able to cast our vote against the scam and the BOD have now no where to run
With the POO now almost 72 $ this BOD now have run out of any excuse to sell the company down to CB holders
We will win and we will vote these crooks out
And after FCA will investigate their scam and will bring charges against them
Please carry on voting against in all resolutions
We have by our concerted efforts and CA’s help forced these crooks to back down to call for shareholders vote for their scam which by all account will be voted down by over 95%
Then we have the option to vote this bod out on June 30 and July 05
These crooks never thought the power of the real owners of the company and thought they can get away with their day light rubbery and a massive scam
They got caught with their pants down the judge saw the scam and forced them to seek Shareholders approval which will by all accounts vote against this scam and then this crooks will have no option except to forget about the restructuring scam and once they are voted out we will see this company rescued and back to being a proper O&G solid company and SP will recover to double figures in no time and move on to higher double figure as out cash flow and production will increase

Mcader
You and the rest of waters you listed have only one thing in common, and that is to try and pi...s the true believers in the company , but I have news for the lot of you, we ain’t giving up
We know it’s BS company will be insolvent if the scam is not approved, CA are in line with this thinking and hence their call for EGM
The Judge saw this scam also and forced the company to seek shareholders approval for the scam
I am sure when the scam is fully rejected the FCA will probe into this scam and I can assure you the real truth behind this scam will be exposed
No way the BOD can justify paying the CB holders debt 14 months early by giving them 95% of the company for a penny a share
Beside if the company is going to remain solvent for the sake of 50 Million $ the company can earn that in 5/6 months by their 11600 boo per day production given the oil is now 71$ per Burrell
Well the scam is almost exposed it will be rejected by 95% of the shareholders and then this BOD will be voted out on June 30 and people who care about UK and this company will take over and you will see in no time at all HUR will be back producing more and finding greater resources the real value will be out and the Current BOD may even face serious misconduct charges
All is good mate tell your other mates to buzz off you are not being taken seriously not even for a second

Good post, however management of any quoted company which pays out 370 million going on acquisitions spree must look at the future prospects 4-7. Years ahead before making such expensive purchases
As you say our current MC is over 20 times less than what we paid for these acquisitions over 5/3 years ago
This surely cannot be justified and it is therefore up to the BOD to address such disparities in the market
Our exposure to FCA case in comparison to Amigo’s is relatively very small, so that alone could not be the reason why the SP is where it is today
The company has stated that they need to raise funds in order to be in a better position to start lending again, this had pegged the SP to no end
And we all know we have cash in the bank and very good loan book, given the current interest rate environment surely it will be better to raise cash via borrowing knowing that the repayments will be fraction of what will be lent
Or come clean do a RI with existing shareholders and let the benefit of fund raise to go to the current holders, I am sure most of not all will gladly take up the RI offer
Example of how good RI and open offer will be perceived as positive move by market is the Kier group the have just announced An open offer at 85p for holders at a ratio of 7 for each 8 held and the market pushed the current price over30P over the RI/OO price
NSF can learn from this

For all those who get nervous on any red day, just cast your mind back to early days of GGP, where the SP was hovering between 1.5-2P for months and never going anywhere, then it pushed up to 4-5P and back down to 3-4P and this went on for a bit and then it went from 5P to almost 30P in space of 8-9 months
Granted it has pulled back once again and seems consolidating around 21-23P
So WSBN story is only just. Beginning, there are many more positive RNS’s to come and we are not a one pony asset either we have multi assets each on its own just need a decent discovery and boom we will be off like a rocket
I still think the company is holding back the RNS about the speech by the Dr and I am sure for good reason and when the time is right we will hear what was said
GLA

Do you even read the trash you put out? You think you are only one here who knows the bonds have to be repaid? Come on man I almost gave you too much respect , but I have to admit I was massively incorrect, you just don’t get it do you
For the last time the company had a lot of free cash in the bank even today it might be 150mil$
The still have over 14 months to negotiate with the CB holders to arrange a extension of the loan period
Once the CB holders get to know the company’s forward working plan which will if executed correctly could increase the daily production to 20K or more and knowing the POO is only going one way and that is up they will agree as where else these days could you put your money and get 7.5% annual interest?
Come on even someone like you could see that
And why do you think both the judge and CA have come up with same conclusion?
Cause they like the rest of us bar one know it is a scam
Clear now
Good night ????

With all due respect, if the company was as you suggest is about to run out of cash, then where did the 140m $ in the bank came from?
And are they not having almost two lifts per month selling oil at nearly 70$ per Burrell?
Then how someone as knowledgeable as yourself working in O&G game in Aberdeen could possibly come up with such a daft analysis that the reason why the Board wants to pay the debt early is cause they know they will run out of cash soon!!!!
Are you in charge of your faculties
I very much doubt it

As it happen I have worked in Large oil and gas projects all over the world over the last 20 years
I know the challenges of running off-shore projects and how expensive they are
I also know that most O&G producing companies carry massive debts, as the game is such cash producing machine that as long as you are producing and have sufficient reserve in the fields the lenders would happily give you as much debt as you can handle
Look at the fracking game in US, the banks have small companies over 500 billion dollars just on a Potential of finding oil and we know how expensive that kind of operation is and in process many were folded and the banks lost money
So our 230 million $ debt which still had 14 months to run is peanuts in comparison
That is why it all points to a scam by this BOD whom are not representative of the owners of the company they are behind a massive scam which will be exposed and might even result in criminal charges

I for one very much doubt that you know this company at all
The WOS region is estimated to contain over 20 billion BOO in various depths
Big heavy weights such as Shell, BP, and few others are all heading back to this area with massive investment, HUR is part of this massive reserve and they are already producing albeit only 12/13K bood
So the company had massive future
But and this is a big but the future of the company under current BOD is doomed and that is why once the judgment on June 11 rejects the scam we the shareholders can then line up behind CA and demand removal of real crooks from their Cosy positions and bring back real oil people whom understand this game and can see the huge potential this much under valued company (thanks to the crooks in charge) and unearth the real value of this massive asset and move the MC of this company many many times more
Remember our current MC is less than 20 times what it cost to build AM FPSO, not to mention our other assets and Seabed equipment and our tangible assets as well as over 3 billion pounds in tax losses
When you add all these up do you see a company in financial stress and insolvent? Try looking again my friend

NGR
I read your reply and like the rest of the drivel you have writing clogging up this board which belongs to the real shareholders, remember in one of the recent RNS this crooks of BOD put it it specified that under law XYZ the company does not need to seek shareholders approval for their scam!!!
Well thanks to a very clever Judge and better still massive CA’s contribution not only the company needs shareholders approval but needs 75% of such approval
So go back and drink a cup of tea and take an early night we don’t need likes of you here