Member Info for Blue-Eyes

Public share notifications
A public share notification must be made when the net short positions of shares reach 0.5% of the issued share capital of the company concerned, and again at each 0.1% increment after that.

This relates to both increases and decreases of the position (including each time the position drops from 0.5% or above to below 0.5%).

To make a notification, fill in a share notification form (XLS) and email it to publicdisclosuressr@fca.org.uk. We will make this information available on our website. You will not need a submission reference number.

If you have previously disclosed a position publicly and that position then falls below 0.5%, you must make the new position public. To comply with this obligation, email the completed share notification form to publicdisclosuressr@fca.org.uk only.

Understanding Net Short
An investor who is net short has more short positions than long positions in a given asset, industry, market, or portfolio. Net short implies that an investor may have long-term holdings of a particular asset, but is short on it overall. For example, an investor may hold shares of a company and choose to enter a short trading position of the company using options that exceed his holdings. In this case, even though the investor holds shares and presumably believes in the value of those shares long-term, he is net short on the stock for the term of the option.
What does net short position mean?
Net short refers to the overall positioning that an investor has in their portfolio, whether it be in individual securities or across asset classes. Investors who are net short benefit as the price of the underlying asset decreases.10 Sep 2019

The thing that we won't necessarily know is if any of HUR's major shareholders are running shorts as AFAIK they don't have to notify unless they are net short in that their short position outweighs their existing long

That's as I understand it.

I can buy via HL

As per HUR's website

All of these would have to notify every percentage drop in their holdings and there have been zero notifications.
I can't believe that they would be overly happy with the sp performance any thoughts?
Significant shareholder Number of Ordinary Shares Percentage of issued share capital
Kerogen Investments No. 18 Limited 318,531,211 15.99%
Pelham Capital Limited 121,875,000 6.12%
AFFM S.A. 106,842,835 5.36%
Crystal Amber Fund Limited 100,158,110 5.03%
Last updated 20 January 2020

Is anyone else wondering about Richard Bernstein and CRS - if he was selling then he would have to notify as they own circa 5%. Like wise if he was buying. I think the price they had them at from their last update was around 35p and they have liked a trade in the past. The last we heard from him was a comment in his update about HUR returning money to shareholders in some way which I scoffed at it so I was surprised to see HUR allude to it as well as I don't think they ever have before. It makes me wonder whether there have been some recent meetings and he might have been made "inside" which would explain his silence up to this point. Of course CRS are now in a closed period themselves prior to results . It will be interesting to see his comments when they report, he is an activist investor and doesn't tend to keep his views to himself if this aren't to his liking as per AM below
On 20 November 2019, the Fund requisitioned an EGM of Allied Minds with the aim of changing the composition of its board to help accelerate and maximise both cost reductions and cash distributions, and thereby address the persistent and substantial discount of its share price compared to NAV

OGA will have to approve anyone that takes over the Spirit licences - it would be handy if they concluded a sale so things can be sorted out

So, overall whilst the RNS infers a different upcoming plan for the company, Hurricane is still pressing ahead with the development of its assets. This will provide opportunities to ramp-up production and cash flow, whilst proving out its acreage. The RNS came out as Hurricane had to release the vessels that would have been required under the previous work programme. The OGA is taking a strict approach with regards to suspended wells in hostile environments such as the West of Shetlands and Hurricane is changing its own work programme to accommodate this. Fortunately the ongoing success of Lancaster gives it the capex flexibility to think about the share price and I can see the significant upside of taking this route.

That's how I viewed it too although reading some of the posts I almost convinced myself I was living in a parallel universe!!!! What they are doing is simply making use of what could have been wasted time and building revenue concurrently that will be 100% theirs. It's sound business sense If they can also add to their 2P reserves from the current contingent then that's a positive too.

I think it will simply because as I am given to understand there was an agreed pay deal that has been reneged upon. . I think they paid the managers a rise but not the posties. That's the feedback I got this morning - don't know if anyone else knows different

It's why they are bringing in the drilling of the additional Lancaster well early - prior it was mooted if there was time. Now there is and the revenue from it goes entirely to HUR as opposed to split with Spirit.

The GWA Partners have concluded that it will not be possible to tie-back the Lincoln Crestal Well to the Aoka Mizu FPSO in 2020

The Company still intends to make maximum use of the Aoka Mizu FPSO's oil throughput capacity. As part of this strategy, Hurricane is planning an accelerated Lancaster work programme

I think also 19th March with full results.

Meanwhile HUR are producing 20kpb 100% to HUR.

Exactly - surely it makes sense to add to their own revenue . The other option was shared. Let the Spirit situation sort itself out in the fullness of time.

Spruce G
I'm wondering whether Spirit has interested parties hence everything remains static other than the things that have to be done i.e required commitments for the licence. If a business is up for sale you don't tend to want to make too many forward looking decisions to give the buyer the maximum options on future direction. Meanwhile HUR can add to production via Lancaster which is keeps things simple in terms of revenue

Really? They had said they are none so you think they are going to drill another well to suck up more water and pass it off to BP as oil - of course they are

I must be dumb because what they are doing makes perfect sense. Swap one for the other - this one is all your own revenue

That does like a lot more homely and comforting :))

It's no doubt as simple as the fact that they are running short positions and are talking their book - no problem with that just don't dress yourself up as a concerned shareholder. That's all

Oh and as an aside I felt pretty much within my rights to say exactly what I felt like saying being as I am posting from the (as they so pleasantly put it) lunatic asylum

But as mentioned, I remain sceptical about the conclusions that back-patting 'doubters club' are reaching.

As long as it's just back patting ¬- if everything they've said about themselves is true then they are simply odd "coves" I keep wondering who really buys shares and then sets about systematically and persistently rubbishing their own investment. It's not just a mild little discussion board if they stayed there having their "chats" then you'd think fair enough but they are also taking the time and trouble to post on Twitter and were on here too and highly likely elswhere. That's a lot of effort ?
If we apply normal behaviour which would suggest they don't own any shares then they are liars and liars tend to lie about anything and everything .

Nice to hold a share that doesn't plunge on results - it's becoming a habit these days. Nice dividend too :)

Morning!

I think people just have to choose their lane and act accordingly instead of this continual handwringing . If some of the people here believe what they are saying then they must be insane to continue to hold a share where the CEO will blatantly lie and distort the trust in what is more than one RNS now. You can invest in a company that's had a bit of bad luck with the drill bit or other "in the field" issues but in my view a company that consistently and knowingly (which based on the timeline it would have to be ) lies to it's shareholders is uninvest able
We note the recent weakness in the Company's share price and I can confirm that we are not aware of any subsurface, operational or commercial reasons that would have caused such decline. The production performance of the Lancaster EPS wells is above our base case expectations and we remain on target to provide an update at the Capital Markets Day in March whilst continuing to make progress towards the next operational steps for our portfolio.
"Hurricane remains focussed on delivering operational progress, on budget and on schedule, and, in so doing, delivering returns to shareholders. We look forward to continuing to update the market with quarterly production figures, and will announce any material variations to expectations as required."
Shareholders of Xcite worked out that the company kept their RNS's woolly and kept anything dodgy out of an RNS by releasing a video or talking to an outfit like proactive this company have stuck it in back and white on the RNS.
The company have also pledged to announce anything material to shareholders - the sort of thing being discussed cannot be argued to be anything other than material. Based on the notion that I don't think the CEO would leave himself that "open" on the number of occasions he has had to come clean on these issue then I continue to hold my shares