Member Info for CaptainSwag

slift - ouch!

joe - i suspect any cash raised will be to go towards both the sidetrack and water injection. they will have a bit more cash than previously stated with recent oil prices but I suspect they will want to keep a fair chunk for day to day costs - to make sure their wages are paid and chocolate biscuits!

cashking - i don't know anything about corcel - that is a rarity in my experience.

I bet if hur do do a placement it won't be at a premium!

casking - can you give an example of a placing not done at discount?

albie - this would be the logical thing to do...helps sell a placement (if there is to be one) and gives SP a boost after. it would be bad news for existing holders - although the upside is that the company has a workable forward plan. however any dilution will be- no way around it. thats why i sold out.

i would be happy to re enter with a good plan once price has dropped to placement. Sorry to say this but being honest

keepwell - agreed. the current oil price is great but hur has always been hit or miss in reacting to it.at the moment the elephant in the room is funding. hopefully this will be sorted soon and the road to recovery can start

slift - i think 3 months into a pandemic- when we are still in lockdown 8 months later and will most likely will continue for quite some time - possibly years - is the "start" relatively speaking - maybe my language would have been better to say early stages - but the point is the same. nobody knew what was going to happen. having seen oil crash - there was no guarantee it would not do the same again.. i still say it was prudent - and i dont remember anyone objecting at the time? the general consensus was that it was a good move

slift - i have to disagree with you on the hedge being a bad idea. yes in hindsight but at the time we were at the start of the pandemic that nobody knew much about...oil use was down due to inactivity....the oil price has crashed ....i think this was at the time of silly levels due to saudi v russia

i had previously blamed them for not hedging - but this time i believe they got it right. thankfully we didnt need to use the insurance - and we paid for the premium with better than expected oil prices recently

mary - interesting view on harbour energy. my worry would be the management selling out cheaply - wink wink...one would certainly have to question their idea of generating shareholder returns after these rns since trice left.

whether funding is a formality or not - the effect on SP will be dependent on if any dilution and by how much. a placing of say 30% of shares will plummet SP regardless of how easy it was to do

joint brokers unfortunately says to me placing -

the CPR will be out end of march in my opinion - and hur have never indicated they needed to wait for it before forward plans are made. in fact initially they told us plans would be formalised by december long before CPR due.

in my opinion CPR is for bigger targets later on. It will be conventional play on sandstone. wont affect sidetrack or water injection. these will be the tools to get us to that stage

dire - i am hoping funding first - therefore if there is any dilution/drop in sp the CPR will lift it up. we dont want to go up with cpr and then down again. or worse that they release both at the same time and we just drop.

fandg - thats not the impression i have got from various hur communications over the years

in sep rns

"Given the constraints on operating West of Shetland during the winter months, the Company does not believe that it will be in a position to commence any activity until Q2 2021 at the earliest."
Q2 is now only 6 weeks away
also bubble point is expected H2..so the clock is ticking

topcat - i hope you are right. my worry is that the delay is that they are struggling to raise the finance - possibly by being too woolly about their plans. i wonder if making a firm plan before december - not crashing the SP with the suicidal rns - and then going out hard to get that amount might not have been a better strategy.
if the plan/finance is good i will be straight back in. i do have a huge soft spot for this pioneering company as you say - i also strongly believe uk needs independent oil close to home. GLA. hopefully not much longer to wait. i suppose the recent rapid rise got me thinking news was soon...

topcat - i gave the new guy 3 months until xmas when we were told the forward plans would be announced. its been 2 months since that was supposed to happen - and still we don't know if the plans have been formalised.

the CPR will be no use - however good - if the company is not around to act on it.

i think an rns on funding is needed . now. i want hur to get back on track so i can get back in. the danger is the later it is left the weather window goes.

jc - agreed on the twists and turns. my hope was that the december rns would finally clear everything up - and we would know at least which way things would go long term. the fact it didnt come close to giving us this made up my mind on an exit. i would like to return with a positive road map and finance sorted. i think the country needs hur to be a success. we need oil security....events in germany and texas are pretty ominous for a green future with no back up

jc - your first post of 8.31 was a good analysis apart from the fact that my suspicion with hur is that it will be something in the middle! not either or.

the CPR will be good - i have no doubt - they would not do one otherwise. i still think it will favour conventional oil in sandstone.
the water cut will have increased. with current prices they could probably keep it lower on paper by producing less. it is what it is - we know it will only go in one direction
the forward plan we really know already - if they can get the funding. This should be positive for hur

so key question number one - what will be the funding deal and will it hurt LTH? no2 will it enable hur to have a long future?
i will look at hur as a new case if/when number 2 is answered

GLA

wolf - me too! the market is quite crazy at the moment in my opinion. i am looking at the market capital v income of a lot of popular shares and it is scary. its a worrying bubble. looked at kanabo ipo yesterday and got a quote for 16p for £20k - it had already gone up by more than 200% so chickened out - today touched 50p. company might be worth that in the future but right now? board of argo released one of those we know no reason for sp increase - and it still went up! even a dog of a share i got stuck in for ages OBC has rocketed...

hur should rns that they have found trace of CBD oil and will only take bitcoins for it!- then it would fly

jadam- you have made your position and strategy clear yesterday - you have traded the current momentum well. in hindsight probably many of us would have liked to do the same. However i disagree with your conclusion that the share is now risky.

the EMI scheme was widely discussed yesterday and seems the reason for the director sells. Timing sucks but i guess they cant do anything about that. there does not seem to have been anything underhand - just economics

i disagree with the risk being high - the government have contracted odx to manufacture LFTs - so they are covered whichever test is chosen and as and when tests become obsolete or more favourable. the govt needs millions and there is no doubt that the contract will be worth £millions to ODX. Worse case scenario is that it will be equivalent to current market cap. ODX will have capacity to sell other tests and the credibility given by being a government supplier bodes well internationally.

the market punishes uncertainty and director sells. fair enough. the sell on news brigade and i believe MMs have entered an accumulation phase for the next leg up have also hit the SP. however this is just the market being the market. it just needs patience. first sniff of contract figures will change that very quickly.

i dont take the rns this morning as anything substantial at the moment - the focus is on antigen rather than anti body. The market seems to agree. in the future this focus may change as more people are vaccinated and want to check the strength of immunity. again odx will be well poised.

well done slipanchor - i sold out last week when we had reached a high we hadnt been at since december's rns. my worry was that it might be the pump we often see before a placing.

of course it could be hur being leaky as per usual - and the CPR is ready. i have always said i think the cpr will be an upgrade - i just hope that it is not in an rns with funding details if they involve dilution etc so gains get wiped out.

i am watching with interest - and will get back in if the stars align

directors selling shares is never taken well by the market. There is a strong belief that there will shakeup in capital gains tax rates this year. bringing it in line with tax rate. so their tax would increase to 45%. i suspect that they took this opportunity while we are in a news gap - as they know news is due and the end of tax year is only 6 weeks away