Member Info for Biffadog

Agree 100% with Cebo. Not worthy of an RNS. Probably get a tweet and that's just fine and dandy.

EPS is over delivering at this stage and that is as much as anybody could hope for.

GLA.

Jiffybag,

And there you have it, a late declared trade timed at 07:51am for 110M shares. The Kerogen share sale all in one hit.

All the other 46.5p trades were nothing to do with the Kerogen sale.

GLA.

The other thing to bear in mind is that Kerogen need to manage risk just like everybody else.

Keeping the figures simple, having bought 428M shares at 15p for £64.2M, selling 110M at 46.5p releases £51.2M which almost gives them a free ride going forward.

With the WD failure just weeks ago and the drill bit rotating at Lincoln with no absolute guarantee of a success, It's a sensible move.

They obviously found a ready buyer(s) for 110M shares so somebody out there likes the look of HUR's prospects.

It will be good to see a few more Institutional investors on board which should help support the SP and make it more difficult for the short term traders that have plagued HUR for a long time.

GLA.

Just because they traded at 46.5p that doesn't mean they are connected with the Kerogen sale.

petethestreet,

The sale of 110M shares by Kerogen has been completed off market, so it is not included in any of the trades today, or any other day for that matter.

The shares will exchange hands on the 19th July.

If it is a single buyer, then we will see a TR-1.

If the shares have gone to multiple buyers, then there may not be any TR-1s, depending on who has bought what (see disclosure rules for AIM).

I would advise anybody who is unsure about things to at least read Oilyali's post at 8:58am. It's one of the few sensible posts on here amongst the many posts by the usual fear merchants that this has bought out from under their rocks.

GLA.

Nice to see a new institutional investor (Alken) with over 5% announced yesterday.

Kerogen deal also a very positive step.

It was massively over subscribed and will bring on board some new institutional investors which is what this share so desperately needs.

Kerogen bought their stake at 15p so for them it’s a great move. It will help build the SP going forward and derisks their initial investment with most of the remainder covered by the placing.

It might also be beneficial to getting new investors on board to see Kerogen’s stake drop back a bit.

There will no doubt be a lot of negativity and false rumour spread but don’t forget they still have over 75% of their original stake in the game and by selling 5.5% share in HUR greatly improve liquidity and bring new institutional investors on board with a starting position to build on.

This should be seen as a very positive move even if the SP retraces a bit in the short term but should put a lid under things at 46.5p and it looks like the SP is already moving higher.

Try and ignore the obvious derampers. They are buying as they post !!

GLA.

CA NAV figure not that helpful or relevant as it is for the date point 30th June and a hell of a lot has happened since then (11th July).

Nice to see a new institutional investor with over 5% (Alken) on board.

Kerogen deal also a very positive step. Massively over subscribed and will bring on board some new institutional investors which is what this share so desperately needs.

Kerogen bought their stake at 15p so for them it’s a great move. It will help build the SP going forward and derisks their initial investment with most of the remainder covered by the placing.

It might also be beneficial to getting new investors on board to see Kerogen’s stake drop back a bit.

There will no doubt be a lot of negativity and false rumour spread but don’t forget they still have over 75% of their original stake in the game and by selling 5.5% share in HUR greatly improve liquidity and bring new institutional investors on board with a starting position to build on.

This should be seen as a very positive move even if the SP retraces a bit in the short term.

GLA.

Guys,

It's a bog standard TR-1.

It is a notification of a change in a major holding of HUR shares.

In this instance, it it a notification of an increase in holding to over 5% of shares in issue.

It is NOT a notification of a sale of shares, otherwise it would show a decrease in percentage.

It has nothing to do with Convertible Bonds (CBs).

See DTR 5.1 and DTR 5.2.1 for an explanation of "indirect voting rights"

It's simple really.

I can tell you that this has nothing what so ever to do with CBs. That is a total red herring.

It is also not a placing. Total number of shares in issue hasn't changed for starters. Another red herring.

Whether Alken acquired the shares in the open market, culminating in a holding higher than 5% on the 11th July, or have acquired CA's shares remains to be seen.

GLA.

TDG,

Making a like for like comparison between PMO and HUR destroys your credibility with one post.

Huge volume and serious buyers have finally arrived. CA is not holding this back at 57p either DK. Get real.

HUR have pretty much proven up the Lancaster EPS already with that presentation.

I don't care if you don't buy it, as I always have and now plenty of others seemed to have bought in too.

Can't you just see who's missed out on the rise......

GLA.

Excellent RNS.

I'm still here and still invested in HUR.

I have just got fed up correcting ill informed or deliberately misleading posters on here and have decided to leave it to others to do, if they so wish.

The CMD will provide much needed clarity of both the Lancaster EPS and the GWA drilling campaign thus far. I just hope the attendees ask the "right" questions but I won't hold my breath on that one.

The 1 July RNS clearly stated that "Lancaster EPS production operations remain in-line with guidance".
The EPS is the key. Providing the EPS proves up as expected, then HUR will deliver shareholder value even if GWA proves unsuccessful.

WD was a big disappointment but not a "duster" as was claimed on here. They hit oil for starters and I'm sure they learnt a fair bit about the geology at the same time.

It is absolutely critical that the Lincoln well delivers or serious question marks are raised over the GWA as a whole. As an investor (not a geologist) I was disappointed when HUR chose to drill WD first but understand why they did so.
Personally, I think the COS at Lincoln is much higher and hope that the well planners and drillers have learnt from any mistakes made at WD, as I think there might have been one or two.

If the next two GWA drills fail for any reason, then it's going to be a long, cold wait for the EPS to prove up FB (WOS).

That's my lot on here.....

GLA.

Racing at Spa and avoiding all the hearsay.....

GLA.

Hi Moonlanding,

Just wondered if you could PM on ADVFN.

Having no luck getting your email address and the suspense is killing me.

I’m Biffadog

Cheers,
BD.

Back in paddock. See the SP has settled down a bit. For those that are interested, I’m racing a Caterham Supersport at the CSCC Spa 3 day meeting. Have raced it for 7 years in various Caterham Race Series. Recommend it.

GLA.

Moonlanding,
I am at Spa racing my car and just about to go out to qualify. I don’t have your contact details here either.
SIPP in transit and also doesn’t have your number/email.
I assume all is well from your posts and will act accordingly.
Hopefully track you down later.
All the best,
BD.

Took the liberty to change the thread title as the SP has not crashed.

Volume is very low so no news leak. DST is ongoing by all accounts.

So expect an RNS in the very near future. Hopefully good news.

My personal view is people are waiting for a successful RNS at WD before getting back on board.

If WD fails for any reason then all is not lost as Spirit/HUR have confirmed they will still go ahead with the super giant (in it's own right) 500M barrel Lincoln field.

HUR also have the whole of GLA to be getting on with so the net result is a reduction in total reserves of about 500M barrels (250M net to HUR).

Obviously, the SP will take a hit in the short term if this happens.

However, I'm with Genghis, in that everything points to getting a great result at Warwick (COS 77%) and there is no way Spirit will not go the distance (time and money) to produce positive results here, if at all possible.

IMHO a result at WD and some good initial readings from the EPS will break this out over 64p.

For the moment we are simply drifting in the doldrums.

GLA.

DST = Drill Stem Test.

http://www.glossary.oilfield.slb.com/en/Terms/d/dst.aspx

If Spirit/HUR have gone to all the effort and expense to organise a DST, then you can bet your bottom $ they think they are onto something.

It's worth remembering that Spirit are funding these 3 GWA wells and I don't think there was any way they were going to give up on getting a DST done on WD, whatever the delay or extra cost involved.

The info that the "fishing trip" has proved successful and that the work on running the DST/Completion string has been resumed is good. Back on track.

Hopefully will see some flaring early next week.

GLA.

With regard to the CMD, I have been in touch with HUR and the current plan is for a video of the event to be published on their website later in the day. It will not be live streamed.

There will be an Operational Update type RNS in the morning that will contain any price sensitive information that will be provided in the CMD itself.

Small retail investors are not normally invited to CMDs, so not sure why anybody is remotely surprised by that.

The important thing is that on the 11th July we will get the low down on the EPS (and other key issues) and will also get to view the video of the event later in the day. I don't know if Q&A is included in the video presentation but would certainly hope so as it is a key part of the event.

GLA.

Going back a few years (2017 AGM I think), I remember RT saying that they would be able to get 30k bopd (gross) out of the EPS if they wells really delivered the goods and that they would still be able to keep within gas flaring limits (subject to GOR) at 30k bopd.

GLA.