Is a takeover starting any price from 10p onwards. At 2p it was a 500% premium which markets do not give but a 150%+ premium is doable.
Some chunky sells in there. Didn't average so now holding in case of dilution which may or may not happen. However, happy to hold for now.
It seems an rns may be very near. Any news on side track, no dilution, increased revenue or more oil and this is heading to 12p straight
People who have purchased at low 2-3p's are now booking profit so a lot of profit taking is also happening in tranches. Noone can discount the risks. But a good rns has all the potential to take this in double figures.
A lot of profit taking as we hit 3.5p, this will go on all the way up to 5-9p and beyond. This will also help shorters close down. Real test for LTH. A good rns is all we want here.
Sb, it is true that the sp value got destroyed through the series of rns but they had to inform market of their findings. The brutal kitchen sink I hope was the lowest point in life of this company. It is no secret that the acreage of the company is oil rich but complex. I am hoping on better reserve data. I was hoping for a takeover announcement when this company was at 6p, didnt happen. I am pretty positive that I will see my average of 9p one day.
Yes, whatever i have made of rns was the downgrade of existing producing wells and acreage around that area. Halifax and west of shetland have shown a great promise before. If the CPR shows reserves there then we are going to be back in double digits and beyond.
Bott Bott, the bonds should be trading much below the 230 million value? The board must be thinking of settling them now but i am not sure whether they can. Someone more knowledgeable on how bonds work should be able to answer. A lot of people will bail out between now and 5p. It is the LTH like us having averages of 9 and above who are holding at a loss.
https://www.boerse-frankfurt.de/bond/xs1641462277-hurricane-energy-plc-7-5-17-22
I have gone through the previous rns's several times now and the resource downgrade seems to allude to current producing wells only and not the wide prolific acreage. The Greater Warwick Area has been yielding significant pressure data. There is halifax and finally even in the producing area there are important sandstone areas that can not be understood because of their complexity. The existing wells were downgraded based on pressure data rather than any detailed assessment. It has an upgrade written all over. The kitchen sinking done to get a wider credibility back to the company.
I have held onto my nerves and not averaged down again. I just want money if a dilution were to come in. Not sure, what to do.
yee hawwwwwww
https://www.lse.co.uk/rns/HUR/half-year-results-2020-technical-update-ke86m0zyattpzdd.html
I see 2 positives
1. The Lancaster field is more complex than previously thought. Preliminary analysis suggests that rather than being primarily a basement reservoir, Lancaster has important oil-bearing sandstones onlapping the basement flanks, which may contain significant volumes of oil. Further work is required in order to understand their impact on current reservoir performance and their ultimate potential.
Operations - Greater Warwick Area ("GWA")
· Interpretation of the results of the 2019 drilling programme and ongoing pressure monitoring of the 205/26b-14 Lincoln well have led to a significant reappraisal of the GWA licence potential.
· The downhole gauges installed in the suspended 205/26b-14 Lincoln well are now yielding potentially important pressure data. Two sets of data have now been retrieved and analysed, providing valuable insight into long distance reservoir behaviour.
· As previously announced, the OGA has agreed to extend the deadline for the GWA licence commitment well from 31 December 2020 to 30 June 2022.
while the current well may run dry around August according to the rns, it may also have more oil. The estimate downgrade had been done based on Oil water connect and they can only do it based on production.
More excited on reserve potential than before.
I do not understand how can shorts go down without sp inching a bit
The general investor will return once we receive a few positive RNS. Key here is either better reserves, sidetrack approval or funds sorted. If revenue also keeps increasing, it is surely going to rerate. You can not have $106million cash and a 50 million mcap.
I am about to sell some holdings elsewhere. Decision will then be to average down here further which will take my average to circa 7.5 or wait for rights issue(just in case) . I ain't selling here anymore. Did that previously against profit elsewhere but now either this gives me back my money ( around 9-10p) or i am ready to do a last man stand.
I agree some of the big institutions holding here will scuttle a low bid and that is why we haven't seen it sold already. I thought CA average was around 9p but then someone corrected me that it is 6-7p. I am not sure but even if it is 7p, they will like to see a much higher price before they agree to a acquisition. A bid is not coming in definitely or getting rejected behind the scenes.
I hope some healthy institutional buying also happens.
ship sailing on oil, come on board, show us some more black gold
My apologies, it will deliver cash of circa 360 million? ( 18 months * 20 million, given 20 million was added in december 2020) . Total cash 460 million - 230 million bonds giving shareholders 230 million. Hope i haven't been smoking something.
I was reading a few posts on another message board and one thing that caught my eye is if the board does absolutely nothing, hurricane reserves will run out by October 2022 . That will mean another $180 million in bank by that time if price remains same. Minus bondholders, will the remaining money be returned to shareholders. It will be much higher than current sp which only accounts for $55 million.
All is a game of your average price. Unfortunately i have a high average of 9.3p, but there are others more unfortunate as well.
I guess anyone having average of 7.5p and less can hope to recover their money or profits. IMHO, DYOR!