The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
70% down holy ****
I’m out too, tanking ffs.
Expected 80m oil colum and got 12….not good
Yes it’s a totally different scenario here. I reckon we will know the score by the end of the week for sure.
Actually I’ve found out for myself, just checked the RNS from August last year and the associated drop in SP.
I’ve heard He1 mentioned here a few times what happened there did it tank badly in one day or something and people were locked in?
Definitely expecting games u til results. Any dips I’ll be topping up. Not going anywhere this year, too much to come, I’m expecting more news on other assets, LP said in his last interview that there are 2 others that they are very interested in and with the aim of producing from one in order to raise capitals. Also depending on results from Buffalo there is a queue of people willing to provide debt. All sounds like a good plan to me.
Why the drop? Lots to look forward to here this year. Crazy.
I agree, jumped in yesterday hoping for RNS this morning so have now moved in. I’m going nowhere, still think Thursday morning RNS myself. It will rise again later today and tomorrow imo.
Tree shake, just topped up.
I’m hoping no RNS tomorrow and we will build past 6p tomorrow imo in anticipation. That makes the rise all the bigger when the big news is announced. I wouldn’t be surprised to see 8-10p this week when the announcement is made. Being around these boards for years like many of us and we all know how much the market loves a big oil column announcement RNS. 80metres would be phenomenal. 32 million barrels and around 80 dollars a barrel.
Any chart experts on here. It would be nice to know their thoughts, am I right in saying that as this is new territory SP wise that there is no resistance levels?
I’ve been in here a while, but I don’t post much on here anymore. I can see this rocketing though when the size of the oil column is announced. The herd will arrive as they are already starting to this week. I’ve seen this before with oilers. HUR anyone? Reached 60p in its hey day and it didn’t have what advance have. To be able to buy in the 4p range is a steal imo. Approx 1 billion shares in issue here and with the potential of 30 odd million barrels net to ADV I’ll let you do the maths on what the MC and associated SP could be here in the future. I’m excited for this week. Good luck holders.
That’s his point. It’s mixed messages. Why would they say bubble point being reached could mean ceasing production from the well but also we are still negotiating the FPSO extension. Make your mind up BOD.
Until there’s a solid plan for the future I think I’ll bow out. Too many unknowns here for me, and without the current oil price this wouldn’t be anywhere near 5p. GL to those who remain invested.
RNS’ are very confusing of late, on the one hand yeah it’s all good but then with a caveat of yeah we could be in trouble in 6 months. Eg we are negotiating an extension to the FPSO but at the same time bubble point may be reached in the next couple of months. No mention of what effects they expect this to have on pressure rates and bopd extracted.
The RNS are sparse on detail or a forward looking plan. You cant value a business based on a few months ahead, there should be plans in place for the future of the company and the shareholders should be made aware of them. If they want more II’s they would need to give an indication of what the plans are for next year at least.
How’s it an outstanding RNS? Yes it’s good if you can’t see past tomorrow as still producing over 10k bopd but with approx 35% water cut, So it’s more like 7300 bopd.
No mention of what to do when bubble point is reached which could be 6 weeks away according to RNS. The need for more funds If an extension to the FPSO is agreed and that future liabilities would mean not all net free cash would be available to pay the bonds of in mid 2022. People need to read the detail and not just the headline numbers.
Until the bonds are paid and theres an extension with the Aoka Mizu (which will give us an indication that decline isn’t a pressing issue) and some news on either selling or sharing of assets (farm in) or a new drilling program I can’t see fireworks here. There may be slow rises in the SP and that’s fine with me, but I wouldn’t rule out a few ups and downs with traders.
I really think if there are to be double figures again it will be 9 months to a year away and of course totally dependent on what the BODs plans are going ahead (which we don’t know yet). At least things seem to be heading in the right direction overall.
Definitely an encouraging RNS and quite the opposite of the doom and gloom of the previous Antics of the corrupt BOD. I think the next 9 months here will be crucial. For HUR to really get back to the glory days SP a few things need to happen. 1) pay off the bonds 2) a new CPR with real reserves figures 3) a new drilling programme for H2 2022. If all of this happens and oil price remains high its off to the moon. This time next year we will know the true picture but in the meantime I think the SP will continue to rise and fall but overall it will slowly increase.
Quote form RNS
“Based on current trends, management estimates that wellhead flowing pressure in the Lancaster reservoir may reach the bubble point by the end of Q1 2022, consistent with the time range estimation previously announced on 25 May 2021.”
Where is this stated on 25 may 2021? I’ve read the RNS for that day and I can’t see that specifically mentioned, only that performance was below that expected.