Member Info for CaptainSwag

mcadder - the december rns said talks were about to commence . the next one said they were talking . so the bod has taken pains to inform us that talks have only been going on since xmas ish.

you keep saying 7 months - be interesting if you were right as that might throw a different light on things?

i do agree that this has left it very late for CA to challenge - one could cynically ask if it has been on purpose. however nobody knows what CA have been up to in the meantime. they might even have needed the cpr release before they could make a decision.

awk - i think now you are making pretty heavy assumptions on the judge. Namely that he is at all interested. my assumption is that he is there just to rubber stamp and get on the golf course asap. He will listen - have they broken any company law? nope. everything has cleverly been communicated all along. is the company a busted flush? yep show him the CPR . have the bondholders got rights? yep show the covenants etc. if the company turn up with the paperwork and there are no objections - game over. bondholders own company. they do what they want with it.

whether the bond holders keep the bod is an interesting one? if the whole thing is legit you would think they would replace these incompetents asap. on the other hand if the bod has been "helpful" then their jobs are safe

mcadder - the september rns - although a massive downgrade- was still quiet upbeat. There was the promise of a plan by xmas and possible "significant" sandstone oil. Even if CA disagreed with the 180 degree reversal on the 2017 CPR there was still a lot salvageable.

December should have started alarm bells - no plan and no communication. By feb they really should have been thinking of possible strategies

I really don't think planted was trice ..lol

My guess was that whether trice sold up was dependent on if he ever thought he could return. If he thought there was a possibility then keep if not sell and be done. He has probably has seen the trajectory the company was on...also he may have needed the money. After Hush money until December his employment prospects can't be that great with the implications from the new bod.

Little Ned..I suspect some people needed time to take on board the news. The price I suspect was held up by the market makers which meant that some people might have thought it wasn't as bad it is. Some will consider CA will save the day..averaging down and dead cat bounce etc etc

Whether the MMS can support it at this price is hugely questionable. Oil Jim whatever you think of him has hit the nail on the head.

"I think there will be a rush for the door tomorrow when the market re-opens"

unfortunately i think you are right. if i was still in hur - i would be sell tmrw and buy back at 0.1p. There will probably be a consolidation anyway to turn a zillion shares into a more manageable amount. at that point there is the possibility of making money - if a forward plan is put into action. and if the company is not taken private. there could be some volatility if CA do fight back but at this late stage you would think the odds are against them

mcadder - december was the alarm bell for me and i sold up. The forward plan had been promised and at least needed to be made by then. the fact that in 3 months they still couldn't decide showed incompetence - on the face of it. i felt they at least needed to make a plan and then could seek funding. I think many people suspected pretty serious dilution but through a placing to raise the cash needed. i was also shocked that the conversation with stakeholders had not happened - according to the rns. what had the bod actually done in the 3 months since maris took over?

i am guessing CA thought/hoped that there would be a plan in time and that they might be engaged in the stakeholders talks about finance etc. i suspect that march RNS was when they had confirmation that all was not well. the cpr comes out - and CA purchase suggests that they dont agree with it.

there has to be serious questions asked

1) did the bod do the best they could - but it was inevitable that the gig was up
2) were the bod incompetent?
3) has the transfer of the company been the target for some time and the bod stringed everyone a long for a couple more months until the weather window was missed?

there is no question that the geology went against hur. the question is could things have been salvaged? the september rns seemed to show hope. if it could have been salvaged why was it not?

"However, we have found the board of Hurricane to be both indecisive and obstructive.

and here lies the rub - incompetence or dangerous competence?

I suspect the hearing is expecting proof that the company is a busted flush and that it is just a rubber stamp job.

If there are dissenters then they are going to have a plan going forward. That is what Hur haven't allowed CA time for..convenient ? Well as convenient as missing the weather window has been.

Calamari - haha. Sandstone oil reappears..spirit decide to go ahead etc etc. P8 is a success ..who knows?

Mcadder - I suspect you are very right on this court hearing.

If we don't hear from CA this week the sp must surely be going down towards 0.1p

Awk - assuming kerogen are bondholders and likely to do well out of the giveaway then it really is down to CA.

I hope they do get involved but at this stage I fear the worst.

However I will be buying at 0.1p as I suspect there will be money to be made in the short term. I really feel for anybody still holding.

I suspect CA have been wrongfooted by the bod...and that's quite possibly why the bod have not engaged with them as they did not want their "give away" to be known beforehand.lets face it they have shown no accountability whatsoever.

CA obviously have huge question marks on the bod anf how they have behaved since trices departure - and now is the time to see how confident they are and how far they are prepared to go.

I suspect the bod are just expecting to present the case to the judge..give the CPR and get the whole thing rubber stamped as a formality.

haha...i have been outed!..lol

only joking...this guy is quite funny been watching him for awhile

trust
CA could have bought more - especially if they intend to make a play. Or it could be being supported by the MMs to keep an "orderly" market. remember they have to buy any sells and who can they then sell it on to? 2.5p to 0.1p in stages rather than one go.
i suspect some did not understand the full dilution and consequences and are hoping for a dead cat bounce or average down.
be interesting to see the price on Tuesday.

mcadder - good post.

If I was cynical then I suppose the lack/delay of a forward plan played into bondholders hands?

"No, wouldn't be taken private. Or can't be."

As i said i do not have any knowledge on this kind of thing. I explained the brief history to my mate and that was his theory. he predicted the further destruction of the SP and the massive dilution correctly.

i have no knowledge on this kind of thing... my friend has experienced it and said it fitted the template.... said any remaining shareholders will be offered a low ball figure for their shares and basically have no choice but to accept.

they are being left out of the whole equation now - let alone when the company is 95% owned by the "stakeholders"

haha...i think you will find the giant squid left with trice!

good luck with boil!

slift - the transfer of the company was what my mate warned me of back in september when i gave him my overview of the company. massive dilution and then the next step private. then sold

hasiba - we dont know if trice still owns his shares. he could have sold them - possibly even to crystal amber.
would be really interesting to hear what he does think...has he changed his mind with the new data or does he still hold fast. the fact he was sacked suggests to me that he still disagreed with the new bod