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16 USD to 65 USD or a 406.25% rise. That will give the shorters here pause for thought. It will give the stakeholders food for thought in terms of funding the FWP too.
I bet Mr Maris cannot believe his luck......screw the CBs, let's pay for the sidetrack ourselves and get SPirit to pay for half of Lincoln. Imagine the SP back at 25ks (water cut notwithstanding).
BLOOMBERG. (Bloomberg) -- What began as a power issue for a handful of U.S. states is rippling into a shock for the world’s oil market.
More than 4 million barrels a day of output -- almost 40% of the nation’s crude production -- is now offline, according to traders and executives. One of the world’s biggest oil refining centers has seen output drastically cut back. The waterways that help U.S. oil flow to the rest of the world have been disrupted for much of the week.
“The market is underestimating the amount of oil production lost in Texas due to the bad weather,” said Ben Luckock, co-head of oil trading at commodity giant Trafigura Group.
Brent crude surged to within 25 cents of $65 a barrel on Wednesday, a level not seen since last January. Ten months ago it slumped below $16 because of a demand shock caused by Covid-19.
In the past the weather-related disruption would largely have been a U.S. issue. Now it’s unmistakably global. Crude markets in Europe are rallying as traders replace lost U.S. exports. OPEC and its allies must decide how much longer they keep millions of barrels of their supply off the market.
Estimates for how long the outages may last have gotten progressively longer in recent days as analysts try to figure out the timespan involved in thawing out infrastructure, especially in those areas where freezing weather isn’t the norm.
Higher Estimates
At first, traders and consultants expected a hit to U.S. production that would last between two and three days. Now it’s looking unlikely that things will start to recover much before the weekend.
That means ever more barrels are being removed from the global market. Citigroup Inc. said it expects a production loss of 16 million barrels through early March, but some trader estimates are now almost double that. Vast swaths of production in the Permian -- the heartland of U.S. shale output -- have been shut in.
The result has been a surge in the value of crude barrels in other parts of the world. North Sea traders have been frantically bidding for the region’s cargoes this week as replacements are sought for U.S. crude exports. As Europe’s supplies have gotten more expensive, Asian buyers have been snapping up Middle Eastern shipments at higher premiums.
I have my suspicion Jimmy is from Debt Camel.
I genuinely sympathise with anyone that has taken out more than one loan through amgo. Consolidation and multiple loans are not a good idea for people struggling. But shareholders ought to be respected too. Many will have lost 50 to 80% of their investment.
Jimmy suggested 100% of Amgo's profits should go into the SoA for 5 years. That is completely unrealistic... you cant run and grow a business (good for those in the SoA) if you pay 100% profits to borrowers. I also dont like compensation culture at all . Pay back those exploited , but many others are just chancing it.
Slift. Give it a rest. You spent months summer 2020 convincing us this was a great investment. Then sold out at 3p and have been bitter and sarcastic ever since.
Goldman, whose strategist Alessio Rizzi writes that the bank continues "to have a pro-cyclical tilt in our asset allocation" and following the poor performance of energy stocks in the past year, the bank thinks that "adding energy equity exposure is attractive at this juncture, especially considering our constructive commodity view."
To justify its bullish bias, Rizzi writes that since the start of the year, "markets have been risk-on and cross-asset performance has repriced the potential for reflation" which is in line with Goldman's core views as it expects "pro-cyclical assets to outperform, supported by strong global growth and broadly dovish policy from central banks. Our US economists revised up 2021 US GDP growth to 6.8% given the increased chance of a large US fiscal stimulus package and pulled forward the first Fed policy hike to 1H 2024."
I'm very LONG but i agree. I trust the Brent price more than i trust the HUR BOD!
Unclear if they were delayed trades or trades that matched the UT....either way, at 6.8p , they look like accumulated buy orders.
Watching closely here ....
Is there a chance that the accelerated Brent spike has caught shorters by surprise and they may well consider closing? 2 of the 3 at HUR have not yet reduced....Astaris etc. WIll one blink?
On ADVFN, Gggh Gggh who holds the CBs has reported that the CB price has recovered from 30 USD cents to 45 cents since Sept 11th. If Shell is investing in adjacent acreage W o Shetlands, is HUR@s acreage really valueless?
Brent closing in on 64 USD Https://www.bloomberg.com/news/articles/2021-02-15/oil-holds-above-60-with-cold-snap-disrupting-american-supply
TEXAS - 1 million BPD lost and refineries closed due to cold snap.
GLA gamblers...
Also momentum play....HUR goes nowhere but when it moves, it MOVES>>>>>>
Brent wasn't 64 USD then....
THis is going to strengthen management's hand....bet they didn't expect this.
300ks. Just think, would've cost me 150ks 15 months ago
Daltry. Thanks. Maybe they see it as pointless to completely wipe out equity when dilution would damage themselves too.
Instinctively seems to be a spat...dec RNS warning about dilution and partial equitisation, jan rns saying what a difference higher Brent makes....hur bid and Kerogen are not getting on otherwise why they would quit board without any thanks from HUR?
I still cant understand why if Lincoln Crestal was supposedly commercial they dont invest in tying it back in....as CA point out, it would be less risky and dilutive for equity...5000 a day for our half share x 65 usd Brent is 325ks usd a day.
Sorry should have read can borrow up to 30m cash, 39m was a typo.
Posted on Lemonfool BB 30 12.20
Johnny T (aka NGMS on advfn)
Re: Hurricane Energy (HUR)
#371249PostDecember 30th, 2020, 1:43 pm
Whilst we don't know who holds the bonds, the terms are in the public domain as I found them months ago.
The interesting bit is that the BoD can take on another $30m debt WITHOUT permission of the Bond Holders and there were no clauses around spending cash etc. without Bond Holder approval.
Everyone seemed to assume it was a slam dunk."
NGMS , the friendly fella on advfn posted this on another BB about HUR. Suggests that whilst HUR would be crazy to make major investments without CB approval, they can theoretically do so. Surely this is an equity bargaining tool. Wonder why he never mentioned it on ADVFN, as he is on there 8 days a week? Agendas...
Basically he said that HUR can borrow up to 39m usd without permission and dont need formal CB approval make investment decisions. Useful for the FWP?
And HUR increased 13% Friday so still above where it was Thursday
I'm still holding....