The board indeed need to pull up their socks.
what happened on the wells being drilled by Petrofac for hurricane? Are they in progress, done or still to happen?
https://www.petrofac.com/en-gb/regions/europe/projects/well-operator-for-hurricane-energy/
Yes CA is a fund only but their average is also around 9.5p if i remember correctly. I don't see them agreeing to a lesser offer.
14p is a fair value infact below FV but the issue in getting it today is that it represents 500% above current sp. Such a value is difficult if not impossible to achieve. Something positive by the board specially on reserves or in agreement with CA can bring some decent offers. For now i think there are no offers.
Gino/Oilman, do you have any news or is this just a prediction?
NEO is taking over Exxon, a lot of mergers and acquisitions to come.
An increased revenue rns in Feb and March, a positive update of reserves and/or a progressive talk on finances sorted ( if possible with no dilution) all have their own potentials here. Finally someone (Cairn/Exxon/Saudis) can also decide grabbing it here for cheap. Finally, doesn't seem it is a short term play for now.
Hope we also hear something positive on reserves
Cairn energy is hinting an opportunistic acquisition. Can that possibly be Hurricane?
https://www.heraldscotland.com/business_hq/19026163.edinburgh-oil-firm-thriving-north-sea/
Just will believe when this thing takes off now. I know there are positives and there are risks. Saying anything here won't change anything until the board decide to give a positive update.
I agree there are many who are looking for quick pump and dump but there are many like us who want a genuine recovery. I hope you can get your money back.
Today's news is indeed a great positive. They have 106million cash now which will surely increase if Brent continues its rise. The bonds are 180 million but are trading at much less in value. All the bondholders need to do now is agree to rollover and they can be given conversion price at a prevailing price in 2 years time rather than a fixed 32p or something. That should probably encourage them to roll them over.
There is a gap I believe somewhere between 3.2p and 4p technically or i saw somewhere in twitter. So maybe will gap up to 4.5. Still believe a true value is certainly in double figures. LTH with average of 9.3. Give me 9 and I will give you all my shares and the bigger MM's can play all that they want here.
While the stock is not in its prime, it has certainly been kept at this level by market forces. There are risks ahead for sure but I will prefer going down here rather than bailing out. If the market forces do need the shares then they need to better their offer price please.
Gonegirl, you are a new user with only 4 posts and you choose a stock not to invest but discourage others?
Taylor, I agree on the side track, production and refinance. The only suggestion in my post was to average with care. Do not lock excessive funds here. Regarding funds or T/O happens all the time. You either take funds and try to keep afloat or sell off to a stronger hand. The assets here are around 800 million. Understand debt and bondholders but the bigger II's will fight for a decent price in a T/O or at least I hope they will. Else the board will dilute and try to be afloat. Good luck!
From my history in petropavlovsk,rolls royce, IAG, I will just suggest to average with care. just in case a rights issue does gets announced as you may get chance to average at that time. I do believe the assets here are very cheap. 3p or even 10p is unjustified but one of the 2 is going to happen here. Takeover or dilution. I am hopeful of at least a double figure in case of takeover.
Oilman, are the assets not around 800 million? Isn't the NTAV at 31p? Isn't this an oil producer where POO is increasing?
Why will a bid at 6p get accepted. Will Crystal amber accept such a low ball figure given their average is around 9p
My only worry is SP is too low and a takeover offer needs to be decently priced to be acceptable.
This is the financial information for hurricane energy and if someone has a latest one, they can point me to it.
https://uk.advfn.com/stock-market/london/hurricane-energy-HUR/financials
Based on fundamentals the NTAV is considered closest to true value which is showing around 31p. However, I also know that bondholders always have a upper hand so if a fire sale has to happen it will be lower but still significantly above the current sp.