Member Info for Alavib

NGR1616
You only have to read the Malcolm the oil man recent write up about HUR
He was telling how could it be humanly possible to have such a staggering difference between two CPRs
One saying there is over 2 billion boo in the fields and 3 years later another cutting it down to 200 million at the best
Remember these companies don’t just pluck a number from sky, they take into consideration many many technical factors and both 3D a d 2D survey results not to mention analysis of the drill samples
So who is to say the first CPR was total BS?
And then DR T is forced out and these crooks took over and since last September when the SP was around 12P they put out one negative RNS after another and managed to drive the SP to just over 2P
Their scam was hatched last September but what caught them with their Pants down was the sudden rise in POO where all of a sudden with average 12000boo production per day they saw over 10 Million $ net profit coming in and they knew if they don’t act quickly by July 22 they will have far more net cash in the kitty to not only pay off the CB holders but to have sufficient reserves to try water injection or side drill etc to boost the current 12/13000 BOPD production
I have been saying this and say it for the 100th time why would the Bod which are not in default and have paid out the quarterly interest on the money owed now try to pay off the loan 14 months early and not even with the 140 million cash they have in the bank but with Shareholders money ?
The logic points out to a massive fraud here as no way the company is insolvent, the company is generating sufficient free cash flow every month have over 60% of the CB holders owed money already in the bank
Beside why would they not simply tell the CB holders look, we can give you 60/70 % of what we owe you by next June and would ask you to agree to extend the duration for repayment of the balance by further 2 years by which time the company can invest with the free cash flow coming in to enhance the production at the two producing well and bring other wells on line also
Now why do you think they did not or would not do this option ? Cause they are all in on this scam the lot of them The CB’s the so called Ad hoc committee whom no one knows who they are etc

Reply From CA
Thank you: I agree that the board is acting in the interests of the bondholders and not its shareholders.
The board is able to call a general meeting to vote on our resolutions from 8 June but at the moment it seems to want to delay this meeting until after the court has sanctioned the massive dilution.
We are working on a solution. In the meantime, if you would like to write to the board of directors, the judge, the bulletin boards setting out your views on this, it may be helpful.
Best wishes,
Richard
As you can all see from the reply from CA they are also in full agreement with what everyone has been saying and are trying to expose the company’s attempt to delay the EGM by 19 days given that the proxy voting papers are to be submitted by Jin 07!!
So this BOD is hoping that in the meantime the court might sanction their scam
Please please all as Richard had suggested write to all relevant people , the Judge, the BOD, the FCA, thr OGA and NS of Scotland
We need to keep this up and expose their attempt to pass the scam via court, the judge must be aware that the company just like AMGO earlier is very much solvent and not one folding
Even their end of year financial results talked about 547 Mil $ provision??? What is this provision for this BOD have not spent a penny on any forward planning they just sat on their fat asses and draw fat salaries and spent almost 10 mil$ on advisors which came up with the scam we are all faced with
Please keep it up
GLA

Letter to CA
Many thanks for forwarding the RNS to Hurricane much appreciated
I just wanted to bring a few points to your attention with regards to the hurricane’s BOD’s
BOD in their most recent RNS which was mostly due to efforts of CA and many small shareholders, indicated that if their scam which they call restructuring is not approved they will go ahead in winding down the company as in their view otherwise the company is not solvent !!
At this point all shareholders are baffled as to how a company with 140 Million Dollars cash in the bank and earning over 10 million $ net profit each month can be regarded as insolvent?
If this BOD are not able to safeguard the company going forward given the current assets, resources, and cash in the bank and generating net profit each month, then they should be removed and replaced with competent and experienced senior executives whom can save the company and move it forward
It is the shareholders right to remove this BOD at once as they have shown total disrespect to the company’s owners and lack both ambition and desire as well as competence to be in charge
I can assure you if you arrange for all holders to line up behind CA with signatures or whatever is needed to demand the removal of this BOD in the next EGM this can be achieved
This BOD have since taking over have done nothing except run the company down with one negative RNS after another and have not once talked about positives within the company or showed any forward looking plans with regards to how best the company’s resources can be utilized so that the SP can recover and company can move on being an established O&G production outfit for many years to come
Please let me know what your thoughts are on this proposal and I am 100% sure if agreed all holders regardless of no of shares held will support this action
But this needs to be put forward by CA as a large II shareholder
Please let me know
Cheers

Paper duke
I could not agree with you more, in my previous post I mentioned the very fact that the CEO is very careful in not to dilute too much and even with the 10 million small cup dilution he got above then market SP from the investors, and these investors would not pay above the market price and subscribe to warrants at over 20p if they did not know this is just the start of a very exciting journey for WSBN
Like you said we are where GGP were 12-15 months ago, and we have fraction of GGP shares in issue
Once the drilling commenced and the results show huge top grade gold in such shallow depth the NC and other big players will come knocking to get on board via JV’s so nobody should be even contemplating to sell as we are not yet where we will be in 12 months time I got in at 10p average and if ever these drop to anywhere near my entry point I will load up again
We just need to give our CEO the time to turn this to GGP mark 2 which I am sure he can and that my good folks would mean at least 30-35 baggers from where we are today
GLA

Ron
Thank you for the info about the advisors fee
It is staggering as to how this BOD’s are playing with the survival of this once great asset and company totally unchecked, it is the BOD responsibility to ensure costs are under control in times of financial stress
Which inter Alia included salary and head count reductions
But this BOD the minute DR T left started their dark agenda by firstly trashing the resources of the company so that the SP crashed to just over 2P and as though that was not enough they went further and came up with this scam they call company restructuring
If the EGM is successful and the plan is rejected outright the next step would be to demand the 10 million spent unlawfully and without the consent of the shareholders on advisors fee must be deducted from the all BOD annual salaries
As the money in the company was not and is not theirs to waste on scams which by all account is out in the open and will be binned
I will ask all to contact CA to bring this news of the advisors fee into EGM agenda and to put the BOD on notice that the money they spent on this scam will come out of their undeserved salaries
And if FCA can also be contacted by CA to bring this totally unacceptable huge fees for a plan which was never discussed nor was ever approved by the company’s owners into a disrepute and neglect of duty to preserve cash in times of financial stress they these crooks would even May face criminal negligence and be charged for it
I think these crooks are not the honest people to be put in charge of running this great asset and only god knows where the hell they were plucked from

First of all congratulations to all those holders whom have been very active in last 7-8 days writing various emails to people that matter, i for one must have sent at least 20 emails to all the BOD, CA, FCA, OGA, Nicola Sturgeon etc
These emails together with CA’s action have finally forced the court to instruct the crook BOD to involve the shareholders in this scam they have been cooking since last September. And seek at least 75% approval for their doomed scam to go through
Many of us hold our shares in Nominee account so what I did today which I suggest all to Do if shares are held in nominee account was to send my broker an instruction via secure email asking them to vote No when the proxy form is received by them
Please do this ASAP sad 9 June 21 is not that far away
I am sure 100% of the holders would vote against this scam and in process force the company to ditch it and then with CA’s backing we can force an EGM and vote this crooks out
We have won the first round but there are still 11 more round to go
GLA

I sent emails to all addresses specified
But I suggest now to include CA so that that have more power to push for the EGM
All our concerted efforts will have to be added up to one giant case so that all authorities will take more
Remember CA only have 15% so they need all our small % to make the case as large as possible
Please all do not stop this fight , this is our company and we need to save it from these crooks who take unjustified huge salaries and then trying to stab us all in the back
Remember these crooks are mere employees of our company they do not and never have owned. This company heck they not even bought any shares to even remotely allow them to come up with such the scam of the century
Keep on fighting and get behind CA
GLA

Very well put
I just want to cast back everyone’s memory to 3 years ago when DR T managed to raise millions via Ii’s subscription to pay for the FPSO
The current HUR assets which include fully owned FPSC is at least 15 times the current MC, not to mention the 11600 Burrell of daily production which even by this Incompetent BOD could run till 2025
So how on earth this crooks could come up with such idea to give 95% of the company away for 50 million $!!!
Are these people not sane cause if they are it only points to one reason and that is conspiracy and and self interest
There are Saïd to be over 20 billion boo in the WSR and HUR are very much part of this huge resource
So to give the company away for the sake of 50m dollars is noting short of day light rubbery by this bunch of crooked and dishonest BOD
We all need to line up behind CA to give more power to their case to force the company to call an EGM so that we can all with the help of CA vote these useless imposters out and bring back DR T with some true and experienced other senior executives to turn this ship round and move her forward to what it deserves the court and the sensible judge saw what these crooks were trying to cook and stopped them in their filthy track

I have like many received a reply from the court saying copies of the shareholders complaints are put on judge’s file to read before the hearing tomorrow
I am sure the judge will take these valid complaints into consideration specially as CA’s today Letter to the BOD also complains along the similar line as the most shareholders have
The BOD must know deep down that their cooked scam is exposed and a major holder like CA have noted along the same line that why are the BOD are rushing to pay the bond holders with shares ( 2 billions of them) 14 months before even the repayment is due, I am sure any reasonable judge will ask the same question and we all know the bent BOD have no answer which will be a justification for such scam and thus the judge can very easily thrown their request into the bin as the bin is the best place for this cooked up scam of restructuring
Company is not and never had been or will be in need of such daft and scandalous restructuring as we are cash positive and we are oil producer and POO story is very much on our side as CA have quite clearly stated the company can pay the CB loans two months before due date
So does the judge need more evidence than that
I think not
GLA

When reading CA note everything they specified as reasons for calling the AGM is what we all have been saying I.e the bond holders loan is not due for another 12 months and we know it’s actually 14 months the current net cash the monthly net cash coming in given POO of 69$ and most importantly not engaging with share holders to at least give them the opportunity to participate in other fund raising options
All and all a very cooked scam to hand over the company to a bunch of unknown people which in all honesty the company is not theirs to give away it belongs to shareholders
Glad that we did what we have and finally would hope the judge on Friday would see the same reasons to throw the case out

CA reply
I have received the full description of the CA’s request for EGM today from Richard B
Just shows how our concerted efforts have come together and at last proved that shareholders power does count
I have been most active in writing to many organizations including CA and am glad that all that efforts have now been justified
This is just the start we can save this great company and we will see it back to where it should be a great oil and gas company
GLA

RNST
As small shareholder I have as much knowledge of the company’s working practices as the next man
I am just using my common sense , and keep wondering as to how a company with 140 million $ cash and 11000 mmbool production per day is trying to pay their debt 15 months before due date?
I hope the judge whoever he or she maybe asks the very same question from the company lawyers
We don’t need a lot of facts and figures to understand that if the company is honest and there is no cooked scam in this , they would have simply call an EGM where with some clear slide presentations they could have told the shareholders this is where we are and these are the blocks
So we have X number of options and these will be sent to all shareholders via a write note and the holders will have time to digest the options and inform the company by way of return vote which option would be served as the best for shareholders interest
Now do I need any evidence or proof for this ?
I say not

More the better
You see folks every email I have sent had been replied, this shows if more of us keep sending these emails (which is the least we can) the more people who will deal with this crazy BOD cooked scam will be informed about the status the company is in at present
Not everyone is following this company and only is as long suffering holders are fully aware of how darn right stupid the company’s proposed restructuring is and how there is a dark agenda behind it
This BOD from the moment Dr T left started running the company down with one negative RNS after another and then when the POO was no where to what it is today warned that there might be massive dilution, however since the POO had gone from 44 to 70 Dollars the BOD have made no attempt whatsoever to take this a a positive step and interact with all shareholders (not just the CA and one other) and be upfront with everyone saying what they have and will have in 15 months time and propose a various scenarios and options which the shareholders can examine and vote for the best for all
The fact that this BOD sneaked the 95% give away so sheepishly and without any other options proposed shows this scheme was hatched way back last August, and we were all dumb not to read between the lines and take the reserve rundowns and negative RNS’s as a red line and massive warning signs , even the markets failed to act as they pushed the shares up from 3.2 to over 4.5P at one stage
Keep on fighting this is not over yet

Reply from Charlotte Brice
Dear Mr Alavi,

Thank you for your email. You are best contacting the solicitors regarding the scheme on Friday. They are Dentons UK and Middle East LLP.

In the meantime I will place a copy of your email on file so the Judge is aware of your position ahead of the hearing on Friday.


Charlotte Brice
Chancery Listing Officer
Chancery Judges Listing

Reply from CA
Dear Bruce,

As we are a listed business, I am not able to give you any information that is not in the public domain.
I would however point out what we said on 22 April:
“As soon as Hurricane provides overdue operational and technical information, the Fund intends to assess this
and provide its comments accordingly, in order to protect shareholders’ interests, restore investor confidence and fully
capitalise on the opportunities from this potentially significant UK strategic asset.”

Kind regards,

Allie
Just as a matter of interest, how would you describe the current BOD’s? Is there any other appropriate description that comes to mind
Here we have a company producing at the highest POO for over 15 months have 130 million $ in the bank are not in default and have oil for at least another 4 years of production with lots of potential to increase the reserves and we get this BOD coming up with such crazy idea to pay the CB holders which only god knows who they actually are maybe Chinese etc, 15 months earlier than due date by giving 95% of the company we own not them
Remember as per the law of the land the shareholders interest comes above all else and these people were given the job of running the company not running it down to the detriment of the shareholders who believed in the project and put their money in to support the company
Maybe you have a better description of how to call this BOD

Sense man
Done as you suggested
Let’s see if I get any reply from either AM or rb
Or comm
But we should fire more emails to these people as well as FCA OGA Scottish parliament ST etc
Such email will turn the heat on these crooks running the company

Somebody has already replied to you idiot
At least I had the balls to write to FCA
What have you done? People like you should not be allowed on this board the less said the better as the words to you are a very big waste

The reply email was headed FAO most senior FCA officer
I suggest the others to also do the same if like me they have received a response from FCA
Also for those whom had written to OGA and Scottish parliament to do the same and request them to also ask for court hearing adjournment
Together these authorities can stop the court from any ruling
GLA

Dear Sirs
Thank you for prompt response to my earlier email
As you maybe aware the BOD of the Hurricane company have applied for a court hearing on May 21 in order to obtain approval for their restructuring plan
I and all small shareholders of the company request FCA to also sent a representative to this hearing and in process since the time scale is very short to request the court to adjourn the hearing until such time FCA and OGA authorities have completed their investigation of this act by the company which is in total contrast to the wishes of the current small share holders
Please respond with your intention and whether the FCA will provide a representative in the hearing
Thank you