nojy - they have to RNS if there is any material change. Since they have stated 20k bod - anything less would have to mean an issue therefore we would have heard.
I have given up trying to guess where the SP will go - but if we havent heard anything it is based on sentiment or manipulation not on actual performance
well well - my money has always been on the giant squid.....its like watching those movies - i wanna shout at trice "don't drill down there...."..lol
i have been doing some scattegraph projections on its feeding times though - and I don't think it will attack until the night before the CMD......
mod - agreed. The issue is that while everyone would prefer greener I can't see happening for a long time. i think reality will sink in. It is ok everyone talking but nobody wants their transport / heating etc lifestyles to suffer
i think he has some interesting points at times and always check out his views. There are two aspects the long term future of the company and playing the market. in hindsight He was certainly on the money to warn investors on hur from 30p - though again it was only after it had dropped considerably- like some of the other writers.
i guess he has to try and sell his subs - so in effect is playing the game of I told you so. The thing is if he had said it at 60p - which i dont recall him doing so - then you could say wow. saying be careful after a massive drop to 30p isnt actually being a guru.
yes to the typos - blame the new laptop!
I am similar to you. I had built a considerable long term stake - much from top slicing over the years. when it dropped from high of 60p to 50p i added an extra £50k with the same intention. Then added about £5k at 36p. i thought 30p was the bottom and added some more. At 26p i added another £20k.
Whilst I think now is an amazing opportunity - i have been resisting adding. I cant really seeing it go lower but I have reached my limit on this share.
sunshine - I am not sure how much the company has really been affected by the SP shenanigans of the last two months. Which is probably why there has not been the kind of responses that some would have liked. remember the SP has been down to 10p from 50p before and then went back up to 60p. The SP is the market measurement of value which is driven to some extent by sentiment. Trice probably wakes up with a to do list every morning on running the company. the SP probably doesn't mean anything to him - unlike us who have invested our hard earned cash in it - and are watching it like a hawk. As far as he is concerned HUR has done a brilliant amazing job. sure last years drills were a blip but even then he has probably learnt just as much if not more from the more successful drills.
HUR will thrive or not by the oil produced and the explorations to come. So far it is looking good. the next key point for me is the confirmation of the longetivity of oil production from lancaster. If that comes then I believe any losses i currently have will come good. If all is well after that we are looking for FFD and hopefully the drilling of the big one. these few months of carnage could soon be forgotten in the timeline of what is truly an exciting company with the unique concept of fractured basement in the UK.
I would like to see shorting stopped as well. I question the detrimental effect in the long term of attracting and retaining PI. Already AIM has lost many investors and it certainly isn't what it used to be. I have to say after these last 2 months I have seriously been considering my future in shares. When a company like HUR has the sort of action seen in the last two months - an investor is really not playing with a clean deck. I don't mind taking a risk on a company but when the SP bears no relation to the results you have to question what is the point. I could accept a drop to 36p even 30p with a long wait on news - even though I thought that was overdone. But this drop to 15p has been too much for me
dod - to be honest i was not convinced of a short attack on HUR - as I regularly check FCA disclosure. However this spoofing and layering i am learning is a different ball game - how do we know if it is going on or not. in many ways it could make sense that it generates a downward momentum causing retail to panic and sell. the tag team of derampers has fed this too.
there is nothing wrong with the fundamentals - the company have the facts and they have reiterated this.
Of course if you dont believe them - that is fine . you are entitled to your opinion if that is really what it is. however it doesn't make it a fact. if you are going to capitalise then you really need to back that up with facts. people's theories dont count as fundamentals. oil produced and sold for cash does
dc- thanks for the link - I like
"Aside from these two methods, companies can also take more technical forms of action to dissuade market participants from shorting their stock. For example, a firm could ask existing shareholders to withdraw their physical shares from the stock lending market – as mentioned, this would lead to the early closure of many short positions and could force short-sellers to settle for an unfavourable price."
Funny how I don't remember
hearing anyone say it was expensive at 50p plus. Now when it has dropped you get some saying it??? It was around a billion for a long time. You would have thought anyone thinking so would have been shouting it at that point not now
Can't see why hur would want to buy out spirit. Hur are fractured basement specialists. They have plenty of stock themselves just need a partner willing to facilitate ffd. To be honest I wish I had never heard of spirit. Could you image where the sp would be if we hadn't drilled last year or gone through the drama of them being sold. We seem to get hit hard by anything to do with them but little or no gain when it goes well - sign contract or good result of lincoln
longwait - i still think it is probably panic selling - i saw a retweet today from peter b of sharephrophets on his article for 6/2/20.
I have to be honest - yesterday I almost jacked it in. had enough of shares full stop - put my money in property. however i know if u did HUR would rebound like a reboundy thing.
also there could / will be selling of traders....maybe bought under 15p and just took a tiny percentage profit
JAdam - You cant say they knew about the shorters. The only official list i know of is the FCA daily which had not shown any change to warrant a loss of 60% of SP.
Personally I am not convinced of shorting being the issue - i think it has been a mass panic sell off driven by a tagteam of negative articles and postings - after a severe drop from the bad drill result. posters questioning their integrity without full facts may not help.
The company has repeated that all is well - and that production has increased to 20k bod. They cant keep repeating it - and so there is not much they can do other than let the proof be in the pudding
i am not a fan of HUR PR or trices's eccentric behaviour - and maybe that has played into unscrupulous hands - but i dont doubt their integrity or professionalism
hur have already advised that they know of any reason for the SP drop. Sure the RNS with spirit plans came out the following week - but that doesn't mean knew the final details til the RNS - they certainly weren't public . however i think many of has guessed that something of that sort was on the cards. I would argue that the market had reacted to that with the drop on bad drill news.
Personally I think we had the perfect storm. bad drill results / brexit election / xmas /corona - let alone the sustained tag team of unsubstantiated rumour and doubt by poster and share gurus - even though HUR had advised all was well. I suspect the target for some will have been reached now - so expect the turnaround leading up to CMD
I don't see HUR needing to raise funds for day to day running and actually they could fund further exploration from generated cash. Full field development will probably come with a farm in - so % of lancaster will be sold off rather than dilution in my opinion. Though with the cash being generated they could improve up production and save to fund it themselves.
longwait - yes wanna gonna say that but i thought a) don't want to tempt fate - I think there may still be a giant squid out there..lol and b) didn't want to start a rumour on Lemon fool about the AM is sinking under the weight of all that water!
oh i am sure there will be a change of tune when appropriate. "it was risky but now the risk has gone...
i think you have to consider that all these financial journalists - or subscription tipsters need to be seen to be " right" to increase their value. Hence jumping on a ship that seems to be floundering is possibly a bit more safer than going against the grain...especially if there is no logic to it and they probably dont know anything about what is going on. history will show they did a slamming article as the price was going down. I am assuming there is no benefit to them for a negative argument
of course there is safety in numbers and should good news suddenly appear - then oh there was a turn around.
lets face it at the moment hur is easy pickings. it could be down at the bottom for another month before any build up to CMD. etc
capn - when I read it my immediate reaction was that it would mean HUR had a load of cash in the bank or used it to progress exploration/ development - either of which would increase the market cap and therefore SP would go up - well logically though with hur I have to say logic has gone out of the window. dividends would be nice though!