Member Info for CaptainSwag

RNs. Interesting post.

The thing is that if you are going to question the legitimacy of the relationship between Hur and the first CPR - it seems strange that you can take the second as gospel and totally above board. Personally I don't have much faith in the CPR process as it is figures supplied by the company so presumably the outcome is pretty much guaranteed to be the same view as the company initiating it. The number of disclaimers means that no one is responsible should it turn out to be Complete gibberish.

The main red flag for me is the complete disappearance of oil at Halifax with no extra drilling from what I can tell. Yes Lancaster disappointed but can they be absolutely sure there is nothing at Halifax ?

The thing is that Hur have made it very difficult to understand who is who. Who are the committee that they have been in talks with since sept ? Who are considered stakeholders ?- presumably some of the major bondholders but who else ? Are there any conflicts of interest?

If they have been in discussion with committee since sept has this affected their course of action in regards the forward plan etc.

Why did they only leave it until after the restructure plan to contact major shareholders? Why we're retail not proposed an open offer ? Why do they still not have a decision on Lincoln ? After all this time ?

Maybe it has all been above board - however I think clarity should have been given to shareholders who have lost everything

The bod have only ever acted in bondholders interests as far as I can see.maybe that stands legally but ethically ?

mcadder - am I correct that this is dated 13/5/21?

in which case at this stage I am not surprised any major shareholder is not willing to support financing HUR at this time...with this bod.
what we do not know is which major shareholder and if they gain should the restructure go ahead.
there was always the possibility that shareholders and bondholders would not agree to sinking any more money into the project. My argument is why were retail not asked if they wanted to partake in an open offer placing? a potential forward plan could have been advised along with cost and probabilities of success. if it failed to obtain the necessary capital then the bod could honestly say they tried everything and that the giveaway was the only option.

"Personally, anyone who sees this as a "scam" is the idiot. I do know that you seem to seriously lack corporate law and financial knowledge."

well i have no objection to being called an idiot. I dont disagree that the geology turned pete tong - water cut and GWA drilling results etc etc
however i have my serious doubts on the bod's actions or should i say at times inactions. it may have been incompetence or something else. i welcome any investigation into how we have arrived where we are.

their twitter is certainly a lot more professional looking - and no crass tesla tweets. looks like they are interested in promoting the company and shareholder value

personally i find the idea of paid rampers/derampers very fanciful though maybe i am being naive. i suspect there are private groups who target a particular company at a given time on here and twitter in a concerted effort to affect the price. whether any have frequented hur board who knows. i think individuals think they may be able to affect the SP through their posts and hence continually ramp/deramp but i doubt very much it has any effect.

as for newbies coming along and being swayed - yes i think this does happen. it certainly did to me when i found this board and people seemed very knowledgeable about company backgrounds. my only advice to them is dont believe anything - assume everyone has an agenda and do as much research as possible. of course people who invest or sold have an opinion on a share and will push that - listen to as many sides as possible especially the one contrary to your own feeling

shelley - the trouble is that odx dont seem to learn. they just seem to lurch from one PR disaster to another. I am afraid these answers just show more contempt for shareholders. no apology that their actions dropped the SP by 15%

"It was evident from posts on twitter and emails received from investors that there was a worrying misconception that the additional Government disclosure made on Friday had somehow confirmed a contract award of £374m (beyond what had already been previous disclosed in March) or that Omega had in some way had purchase orders for this value confirmed."

really so people were emailing odx as they were worried that an extra contract had been awarded? or was the truth that they caught some rampy tweets. if they spent less time scouring twitter and more on doing what they are supposed to - maybe we would have some actual contracts

"would prefer the share price to rise based on actual news on the performance of the business"

well either generate shareholder value or leave it be - dont keep hitting the SP...it is not up to you to decide what SP the shareholders deserve.

So no apology for the Tesla comment which quite a few of us found disrespectful - especially on losing 15% of the SP.

Well the proof will be in what the bondholders decide if/when they own the company.if they start doing plans then we were sold short by the co. If they wind it down then that will be telling as well.

I am not up to date on all. The figures as I don't have the time for a cpany I am not invested in..was there any mileage in cutting out spirit and going it alone for Lincoln? I know they already have some of the long lead items

Sorry predictive text. Slift

Slight - if that was the only forward plan option and that was defo the oil in place then no it wouldn't make sense. But was it?

translator - i think they should have made the plan back in september and then tried to raise the finance. i feel they could have tried both CA and Kerogen and even an open offer to existing shareholders or even bidstack - even if the bond holders wre not interested. would have been huge dilution but not a giveaway. With drill plans for this spring/summer the big picture could have possibly been a lot different.

from my research the lead time for commercial court is about 3 weeks for a one hour slot.
1.5 hours was at least a couple of months from memory . the 3 week notice would seem to correspond to hur notice in RNS - and i guess they are obliged to rns as soon as that appointment is granted. the interesting question is how long they have been working on the preparation before applying for a court date - both formally and informally

"To whom it may concern.
Whoever's got my money; give it back, yer barstards."

And also give back to captain swag

computer - totally agree. Along with "big" things happening "dont order a tesla nothing has changed"

Sorry but this company is very poor in its communication. If/when it gets to a decent price I am out

that is great news RF - Well done!

tux and british - i am right behind you in your efforts to bring the bod to face the anger of existing shareholders. i think you are doing the right thing.
i just say how i see it unfortunately

tuxedo -

if the bod has said this is the only way forward -unless the judge is given a suitable option i cant see what else he is going to do. I suspect this is the stumbling block CA will face. Do they have time to come up with something else?

the other question is would you want this bod in charge of doing anything else other than winding the company down? they clearly are showing that they are not up to the job of progressing hur

"Well about time to create a precedent, then. If this thing is allowed to proceed, the judge (who will be unable to remain anonymous) will be considered a complete pariah, by many people, and thus their own professional reputation will be at stake. I have no doubt that he or she will be bearing that in mind."

Awk - i really do think you are being a bit naive on this. a lot of judges make awful decisions all the time and still continue their work. I think you overestimate the impact this is going to have in the press etc. i believe it will just go down as hur failing and that was it. Apart from shareholders who lost a lot of money - nobody will care.

hasiba
"currently 0.78 p because they judge this sp now is what’s worth taking into account the risk factors....
Basically they believe more in alternative options rather the restructuring plans sp to be."

i don't think it is based on whether they believe more in alternative options or not - they have determined the price on considering the probability/risk (massive drop) but have also hedged their bets (not 0.1p) and kept an orderly market (relative stability since big drop)

GLA