Member Info for bransonbull

everyone is snookered here...equity, CBs, etc. The only way forward IMOV is:
1. Renegotiate and postpone the CBs
2. Drill a new well - get it right 2nd time
3. Tie back a Lincoln well.
4. Purchase at least 20-30 m USD of the CBs on secondary market reducing the debt to manageable levels.

We just need POO to play ball and a few miracles like Sprint investing...

"as suggested by 1) Stu and 2) Richard B from CA and 3) Divecentre"

Yes, MGW wrote the Kerogen note. I wish he hadn't been so cozy and understanding with Dr T otherwise wouldn't have invested quite as much here...

Hurricane Energy

Hurricane announced yesterday that Alan Parsley, NED had resigned from the board of the company. Dr Parsley was Kerogen Capital’s shareholder director pursuant to the relationship deed signed in 2016. Mr Leonard Tao has also resigned as an alternate director to Dr Parsley.

As Kerogen Capital currently own c.16% of Hurricane stock the market was obviously somewhat concerned about this development but I think it is quite easy to interpolate the reason for the resignation.

On the 11th September 2020 the CEO designate of Hurricane, Antony Maris said this “We will be engaging with all our key stakeholders regarding our forward work programme and financing arrangements and updating the market on these efforts in due course.”

Now, with the company ‘engaging with all key stakeholders’, it would be inevitable that firstly Kerogen could be potentially a taker of any issue the company might have, especially as the debt conundrum is not that far away but that secondly they will be almost certain to be in a ‘closed period’ for much of that time and thus unable to deal in the shares.

This move by Kerogen in my view gives them the opportunity to keep open all their options and could participate in any ‘financing arrangements’ or should they wish to, sell all or part of their stake. Other thoughts turn to the fact that as a number of their investments are currently locked up, the chance to release this one by say an orchestrated sale of the company might just suit Kerogen…

let's be realistic, if HUR start buying CBs up via secondary, the CB price would recover somewhat...and they wouldn't buy them all only those from distressed sellers or those who want out...but they could for a modest sum make a dent in the debt which along with POO recovery would help equity a lot..IMOV

Expecting a 12p close. DYOR - not investment advice.

Apart from Spells like Team Spirit + CA. Spirit put in a huge investment, they will want some return...

230m USD at 7.5% not 258 m USD at 8%.
Secondary markets - bonds trading at 28 -30 cents...in the USD, so HUR could dramatically reduce debt by purchasing CBs on secondary market, as suggested by 1) Stu and 2) Richard B from CA

What ramping Kaboom? It's clear the EPS is performing below expectations and that WC is a problem with either remedial action or a new well needed or a Lincoln tieback well.

Nonetheless, CA see value....otherwise they would NOT have topped up hugely.

Shorters get issued shares? You really have no idea Kaboom. !! CB'swould be issued shares....not the shorters.

Slift, you won't believe my bad luck, guess where my other major investment is? TLW!!

I know all the background having been in here on and off the past few years. I know the 1 billion asset sales commitment to get the RBL. My question is what if Kenya can't be sold, where will shortfall come from? Is there a risk of RI, and how dilutive? Or could farm downs in Guyana Suriname be sufficient? What does new CEO have in mind for CMD??? Many thanks.

Sorry, that should read to reduce interest payments by buying up convertibles on secondary markets...

Kaboom, 106 m cash , no debt due until July 2022.....no going concern statement, ability to purchase CBS at 30 cents 70% below par on secondary markets and to reduce interest rates. Watch this space

Does anybody else find the SP movement pattern very controlled? It has been going on for a long time...very ltd movement (apart from the 50% painful down days ).

Kerogen are selling out....or they want to get off the board so they can increase their stake. If CA increasing too....could shorters get nervous?

Smells like Team Spirit. Remember Gasman's post???

HUr have plenty of capital to pay bond interest....so not too dissimilar to others struggling to pay down the principal. Kick it down the road, do a new well and invest

Sxx had no revenue. A cheap TO could still be on cards...sadly

Kaboom. CA have massively increased, so they see value....

Maybe he found Bev and the team overly conservative?

Contemplating changing the epithet to TXPbear