Member Info for Boo80

I'm glad I'm going just to see what he's like and try to work out what his personality is like.
And will be good to see some of the people on here.

I'm going it's to late you need a letter from your broker like h&l so don't think you can just walk in
You can email me at sirlancewalker@gmail.com then we can then exchange phone numbers

Hi HeadInTheSand
Thanks for the clarification

Sorry was meant to say
Volume vs price
Let me know if I've got this completely wrong
They have committed to deliver a set volume of gas and a good guess at what the future price of gas is

So if price is 3 times the predicted price of gas then would revenues not be 3 times higher than predicted revenues and we will still get paid for what ever gas is produced don't they so it will help if they do not meet volumes of gas need???

Volume vs price
Let me know if I've got this completely wrong
We have committed to deliver in a set volume of gas and a good guess at a not set price future price
So if price is 3 times the predicted price then would revenues not be 3 times higher predicted revenues and should help if we do not meet volumes of gas as to pay any penalties

Hi are you about and free to talk
I'm going to the AGM and wanted to talk asap

I have just read this and felt disgusted in sick

The chief executive of Hurricane Energy took home more than £400,000 during a year of “profound change” for the beleaguered firm.

On top of his basic salary of £325,000, Anthony Maris was awarded an 11% bonus by the North Sea operate, as a proportion of his wage.

In total, his remuneration package was £415,000 for 2021, his first full year with Hurricane (LON: HUR), according to the London-listed firm’s annual report.

I'm hoping for a new management team.

Then with new management with a positive outlook to maximise the value of the company whether that's just keep drilling until the well runs dry or a potential drilling program or asset purchasing.

But for me the main thing I'm looking for is a bored that should be maximising squeezing out the maximum value to shareholders which is what they are paid for but we have that at the moment.

Hi all
I don't know why anyone is paying any attention to any RNS that the CEO or CFO has any part in doing without the consent of John Wright (Chair & NED), & David Craik (NED)
As they have been trying to swindle all shareholders out of their investment and I would suggest colluded with bondholders and has probably committed some offence or fraud in doing so.
We have gone from billions of barrels of oil and a well that is pumping on average 11000 barrels of oil a day.
now we are being told it suddenly it all going to have to stop in 6 months.
Bluewater would not want to extend the contract knowing that there is not going to be any oil for them to extract and get paid so Bluewater is talking CA they are satisfied and convinced that there is still oil down there and will be down there well past this 6-month period.

The corrupt CEO is trying to tell everyone a scenario that suits him and the bondholders or whatever motive and reason he has got to be trying to do this.
He motivated by greed and money or I would love to know why if it's not that. Why he's not looking out for the best interest of the shareholders and the company.

We need to find a new CEO and CFO asap with the investigation we can build trust for existing shareholders and any potential new shareholders and investors with credibility built back up to a level there is potential to be able to seek funding or an investor to explore our portfolio of licences.

let's look at who we should trust and who is demonstrating trustworthy actions on behalf of shareholders

The CEO and the CFO have zero or virtually zero shares in there name and they have been found colluding with the bond holders which the rest of the old board have been kicked out on that company.

CA have consistently try to help the company and have managed to purchase a quarter of the company and if they did not managed to fight in court on shareholders behalf we would have nothing left.

Why would the bondholders try so hard to underhandedly grab a company that will be going out of business in 6 months and
Why did the entire bold try to help them do this and let's remember all of the board members that have left and that are still there had very little if not no shares with from my point of view as a shareholder does not sound like they were confident in what they were working on and would not care about the share price or the value of the company just as long as they were getting paid.

CA is in negotiations with Bluewater to extend the contract of the rig which they have indicated there was positive conversations to which both parties could come to a agreement. WHY WOULD BLUE WATER DO THIS AND COME ON THEY ARE DOING THE WORK EVERY DAY AND WOULD KNOW IF THEY ARE LIKELY TO GET PAID I.E. THE WELL IS GOING TO RUN DRY BEFORE THE CONTRACT EVEN STARTS.

CA used common sense and as soon as possible try to purchase as many bonds at below ticket price as they possibly could.

CA has said they would like an investigation to take place in regards to the restructuring plan and welcome independent representatives doing the investigation if need be by which I guess the CEO and the CFO LOL WOULD BE PRIME TARGETS as the rest of the board that has resigned.

Today's RNS is the ceo's last ditch effort to try and speed up getting himself fired or is working with CA to try and convince/scare bondholders to sell to them which I hardly doubt as he was trying his best to hand it to them on a plate for nothing.

So which one is demonstrating the side you are on.
Lol

Calm down I apologize to all if I read the information wrong we know the original investment was a lot higher than the prices now but I am pretty sure they have average down they are still going to want a good return for their money which is only good for shareholders I was not trying to mislead anyone I'm just trying to understand all the are contradictory information that comes out of the RNS we do and crystal amber yesterday sounded positive and was suggesting they are expecting better newsflow in the future lol or maybe or maybe i got that one wrong as well

I would not be surprised if crystal amber are still collecting shares before further announcements like Bluewater rigg extension contract, an announcement to review the CPR or do a new one as the previous one cannot be trusted like the previous board and talking about the board I would not be surprised if the remaining two directors are not replaced as they're clearly not looking out for the company and shareholders like they meant to.
There clearly is oil down there and it's not going to cost nowhere near as much that we borrowed last time to drill 1 or 2 more well how much is it to drill a well in this location and with technologies that I have seen that can drill various veins from one main well hole and it looks like roots of a tree idea which increases the chances of hitting multiple pockets of oil and as well can do horizontal drilling.
from the previous pictures of the the seabed shows quite a variation in height in the various historical layers
I can also imagine an announcement alongside the extension of the blue water rig and announcement for injecting water to assist in extending the Wells life like the previous board announced which was one of the few things they announced that was positive or
maybe partner for further Wells to be drilled or just a clean take over

There is still value in hurricane from just the tax right off let alone the licences and I'm sure they said with the water injection they could extend it for 1 or 2 more years which surely there would be some return/value back to shareholders with oil prices as they are and lightly increasing.
Or maybe I'm seeing it completely wrong but at least 50% of the board are now rowing in the same direction as a shareholders.
Peace and happiness to you all on this lovely sunny day

From crystal amber rns yesterday their price per share is 19 p so they will be trying their damn best to make sure they get as close if not exceed that price one way or the other

The CPR is meant to be done by a competent independent person but we have had two vastly different versions.

The one that we have just received the figures/facts was given to a company from us that the CEO has used before and is familiar with also we are paying them it's kind of ridiculous they only really going to come up with the same calculations figures and conclusion that you provide them with suit the picture CEO wants you to see.

My problem is the board seems to be intent on destroying minimizing any value in the company for a reason that I don't seem to see at the present.

Ok the first CPR was wildly over-optimistic Now that the well is working they have a better understanding of what might be there now.

How can you go from a billion barrels of oil down to a few million barrels of oil sounds like fraud one way or the other.

Let's just say the new CPR is more realistic to what might be there but the board does not seem to be doing anything in the best interest of the company whatsoever.

if you're trying to sell something you try to make it look the best it can and if you're trying to improve something you think optimistically and positively about how to try to improve it but they are doing the complete opposite and the real figure that could potentially be there and will never going to know with them in charge because they don't want to find it or come up with anything positive.

The big question is why
If you want to raise money you don't kill the share price before you try to raise money there's no way or point trying to do that now that's one good thing I guess that's how bad they are

From 1/1/2021 OIL @ 12,000 bopd x 330 days a year = 3,960,000 MMbbls (To 1/1/2022)
CPR - ERCE are saying there are 7.1MMstb at Gross 2P and have assuumed a Brent oil price of US$50/bbl in 2021 then US$53/bbl in 2022 then US$55/bbl in 2023 and US$56/bbl in 2024 and thereafter in real terms. Prices are escalated at 2.0% per annum inflation

From 1/1/2021 3,960,000 MMbblls x US$50/bbl in 2021 = $198,000,000 this year mins $138,600,00 in cost about $35 par barrel + $106,000,000 net free cash =$165,400,000 (At of 1/1/2022)
From 1/1/2022
OIL @ 10,000 bopd x 180 days AT US$53/bbl in 2022 = $32,400,000 net free cash $197,800,000 (At of 1/6/2022)
Minus Convertible Bond US $220,000,000
EQUALS TO mines US$-22,200,000 NET CASH IN THE BANK + THAT IS ONLY 5,760,000 MMstb OF THE 7.1MMstb at Gross 2P CPR - ERCE are saying there now + say $18 net cash from the 1,340,000 MMstb left + $24,120,000 so $1,920,000 in the bank left not as good then but that is at $50 bbl and $53 bbl if we can get $10 more pobd a day on the 5,760,000 MMstb that would be about $57,600,000 more in the bank and It's not going to just stop at 7.1MMstb i would hope may be some up side here still

LOL s**t LOL thanks DireEmblem

Hi darren123
SP and sums don't need to match at all that's why you get stupid PE ratios all the time look at tesla and Toyota

Been thinking can I have your thoughts please just trying to find a balanced view in light of this week and the bored being s**t at their job.

From 1/1/2021 OIL @ 12,000 bopd x 330 days a year = 3,960,000 MMbbls (To 1/1/2022)
CPR - ERCE are saying there are 7.1MMstb at Gross 2P and have assuumed a Brent oil price of US$50/bbl in 2021 then US$53/bbl in 2022 then US$55/bbl in 2023 and US$56/bbl in 2024 and thereafter in real terms. Prices are escalated at 2.0% per annum inflation

From 1/1/2021 3,960,000 MMbblls x US$50/bbl in 2021 = $198,000,000 this year + $106,000,000 net free cash =$304,000,000 (At of 1/1/2022)
From 1/1/2022
OIL @ 10,000 bopd x 180 days AT US$53/bbl in 2022 = $95,400,000 net free cash of $399,400,000 (At of 1/6/2022)
Minus Convertible Bond US $220,000,000
EQUALS TO US$179,400,000 NET FREE CASH IN THE BANK + THAT IS ONLY 5,760,000 MMstb OF THE 7.1MMstb at Gross 2P CPR - ERCE are saying there NOW

From 1/1/2021 3,960,000 MMbblls x US$55/bbl in 2021 = $217,800,000 this year + $106,000,000 net free cash =$323,800,000 (At of 1/1/2022)
From 1/1/2022
OIL @ 10,000 bopd x 180 days AT US$58/bbl in 2022 = $104,400,000 net free cash of $428,200,000 (At of 1/6/2022)
Minus Convertible Bond US $220,000,000
EQUALS TO US$208,200,000 NET FREE CASH IN THE BANK + THAT IS ONLY 5,760,000 MMstb OF THE 7.1MMstb at Gross 2P CPR - ERCE are saying there NOW

From 1/1/2021 3,960,000 MMbblls x US$60/bbl in 2021 = $237,600,000 this year + $106,000,000 net free cash =$343,600,000 (At of 1/1/2022)
From 1/1/2022
OIL @ 10,000 bopd x 180 days AT US$63/bbl in 2022 = $113,400,000 net free cash of $457,000,000 (At of 1/6/2022)
Minus Convertible Bond US $220,000,000
EQUALS TO US$237,000,000 NET FREE CASH IN THE BANK + THAT IS ONLY 5,760,000 MMstb OF THE 7.1MMstb at Gross 2P CPR - ERCE are saying there NOW
plus any assets
Condensed Consolidated Balance Sheet as at 30 June 2020
Net assets US$383,857,000

I apologise in advance if I'm wrong and way out.
Good luck and DYOR

There should be enough oil to pay back the bonds plus who really knows how much which will be left after that so so by next year debt free with taxable credits and assets on the books they still value here and that's not adapting the existing well with any horizontal or additional vertical drilling of course there would be an out lay for this but if you're pumping oil in commercial rate after the bonds I'll paid off there's no reason why you can save up for additional drilling and it is not going to just run out of oil as exactly as they've said anyway

also still believe there's something else going on in the background because the vast difference between the reserves of oil from one year to the next just seems too far-fetched considering there still board members still employed by the company that was part of the first figures

Break-even point for the company was estimated to be between $30 and $40 par Barrel of oil so I am trying to be on the conservative side with these figures so you can assume this is the minimum profit also stated in the the recent webinar they had a contract in place with a minimum price of $35 barrel which allow had a upside in the contract which if the price of oil was above the agreed price the company would receive the additional difference in the price

$64 at present - $40 = minimum $20

10,000 Barrels of oil per day X $20 = $200,000 par day
$200,000 X 30 days = $6,000,000
$6,000,000 X 12 = $72,000,000 par year

12,000 Barrels of oil per day X $20 = $240,000 par day
$240,000 X 30 days = $7,200,000
$7,200,000 X 12 = $86,400,000 par year
If price of oil stays above $64 par Barrel
12,000 Barrels of oil per day X $24 = $288,000 par day
$288,000 X 30 days = $8,640,00
X 12 = $103,680,000 par year

Net free cash† of $106.2 million 30 November 2020 (Money in the bank)
The decision to limit production from the 205/21a-6 well to c.12,000 bopd in November 2020
Cash $106.200,000 + $103,680,000 = $209,880,000
If one year of average price of oil being $64 minimum
There should be 7 more months from January next year as the bond wasn't issued until the 19th September 2017
$8,640,000 X 7 =$60,480,000
$60,480,000 + $209,880,000=$270,360,000 so providing an average price of $64 which I would hope from now on will be the minimum price from now till September next year we can easily repay the bond back with all of the tax losses that can be carried over and assets on the books surely this has value going forwards

The Question is is do we allow the board with their bad communication skills (for instance tell everyone there's potential share dilution before even coming up with a good quality strategy to ask for any additional funds)
And at present a complete inadequate plan/forward planing and to be honest insight into what assets they have and what they going to do with them.

The new CEO has done and is doing what I called the head office of hurricane energy and no-one picked up the phone I sat there with the phone ringing for about 2 to 3 minutes with no answer.
If they are just going to wind up the company or keep the company just ticking over until the bond is paid back then I propose any shareholders that would like to get together and form a group to propose that the board answer for theirselves and to question if we need them in place to keep ticking over and not just get a nightwatchman in for doing that.