Member Info for CaptainSwag

dshox - but that is my point. they said they were working on it and expected it to be finalised by year end 20. the rns pre xmas showed that they were nowhere near this as they hadnt even made a decision. the weather window is against them and the oil production could be running at a loss by summer. they need to get their finger out

dshox - the oil production is decreasing and the water cut is increasing. The company already stated back in September that there could/would be an issue come the summer. if Oil prices continue to go up that will help enormously but nothing is guaranteed in that respect\

dickbat - firstly if you think driving the sp down so that any placings ends up diluting PIs holdings more is good management then you will be happy. secondly there is a time issue - there is a limited weather window for any drilling etc and oil production is quite possibly likely to turn non profitable in the next 6 months

thirdly from sep rns

Work continues on a possible 2021 activity programme for Lancaster, including the provision of pressure support via water injection, improved recovery from the existing EPS wells and evaluation of the onlapping sandstones. This planning is expected to be finalised before the end of 2020.

they hadnt even made a firm decision on what they intend to do. i am afraid i gave the bod the benefit of the doubt in september . the £30k i made trading from september up to the xmas rns was wiped out in 1 min of trading on release

buckle - the kitchen sinking was done in September. What was wanted from the xmas rns was a decision, forward plan and finance arranged. we didnt get any of that but threat of dilution and worthless equity.

hasiba - I would suggest the recent massive drop in SP is due the the market not liking the new board. They had 3 months and still have not come up with a firm decision on the plan forward. the signalling of dilution and possibility of worthless equity will not have made many fans either

the increase in oil price is great - however while dilution hangs over our heads like the sword of Damocles it is hard to see the attraction of the share. Dilution will affect the SP and anyone thinking of buying would probably be best to wait and see. once the financing and or dilution has been resolved could be a good time to but dependent on future plans

big bear - i agree. i think a lot more pain to come. however then the path upwards could be a lot rosier. the trouble is anyone invested in the meantime could get shafted even more.

GLA

the thing is a lot of their info on that page is incorrect. So how can anyone take their valuation seriously?
hur have admitted themselves that their shares could be worthless in the next few months.....so hardly a realistic valuation.
Could hur multibag from here? - yes......is it likely? i think more likely to go down than up in the short term. however if they get it right then ....

hur multibagger this year? - it is possible especially at this terrible SP.

1) forward plan of sidetrack decided and using existing cash to fund
2) forward plan on water injection - funded with minimum dilution - dont ask me how
3) spirit go ahead with lincoln
4) CPR released with upgrade on resources
5) oil prices starts to improve with covid measures allowing a start back to the "old" normal

of course market mechanics and rumour could also cause a jump in Sp

Personally i don't know how this board will move forward with minimum disruption to share holder value. give him their due the original bod could get finances for a project - this bod hasnt impressed me so far. As always i have a soft spot for hur and am in their corner - but i wouldnt bet anymore of my cash - until things are sorted.

slift - interesting take on it. I hope you are wrong for all lth - i still have my tiny pot in a sipp (150,000 shares) left
When i was talking to a mate before xmas - he doesnt know hur but when i told him a condensed version..his take was - drive sp down/dilute PI. then a private sale to a big fish. shares get suspended and PI get a pittance. No idea on the validity of the idea - but your breakdown looks like it could fit. i think awk always felt someone was in the background as well.

genghis - the issue is the management is not considered good.

i am sure we have all worked jobs where we did a good job - despite pony management. i know i have. and it wasnt just my opinion because when i left the place it crumbled..as the new staff couldnt compensate for poor management like i had

daltry - that was my first thought too - they are top heavy with management roles and also need to stop paying overinflated prices for drugs and equipment.

i am sure we could produce more of our own doctors....what stops it? suitable candidates - i doubt it....facilities? could be built ....other specialists prepared to teach ?...maybe.... but in my experience any shortage of lecturers is often down to the salaries offered...lecturers cant be expected to teach students for less money than they can earn in industry.

.i suspect the issue is that if there were more doctors - then the status and possibly average salary would go down. i doubt that would suit the existing set up .

slift - I am not sure i would associate italy with "cheap" holidays - but then that could be due to the nature and location of my visits. my trips usually involve 100 or so foreign visitors - and the price of the hotel and event is not cheap. Anybody i know who goes to italy appreciates what a remarkable, inspiring, beautiful and historical country they are fortunate to be going to - and the fact that each region and city has its own unique character. and that the price is worth it.

When i was there in last - in february the majority of visitors were chinese - though that may have been due to their new year. so i agree in your evaluation of italy's tourism surviving whether in or out of eu.

slift - i go to italy a lot. surprisingly i do come across rather a lot of anti EU feeling - this was further aggravated by the perceived lack of support when italy suffered the initial brunt of the covid. i suspect if the effects of leaving are not too severe on the uk - italy could well be favourites if another country was to leave.

personally i will buy the item I want at the price point range i am willing to pay. if the quality is there and the price differential not too great i will always buy british.

i suspect that the manufacturing that really impacts is not from the eu. it is probably from china. which is a whole different ball game - and will shape the future.

the eu has been its own worst enemy in many ways. whether uk leaving will be better or worse for it will only be clear with time. covid may or may not change the perception as well. however the eu always knew they would be better with uk in rather than out. their strategy of bullying tactics unfortunately alienated some of those of us that were initially undecided of the merits of leaving v staying.

awk - i agree - much rather a new well. i remember trice saying that they now have more understanding and so less risk and more accurate prediction.
good point on the long lead items already secured for lincoln....lets put them to use.

dilution on top for those already down 95% will be disastrous in my view.

i think suspecting the motives of anyone posting is a good default - until you read enough to perhaps get a handle on why they post.

AWK / Slift - in total agreement. I was thinking exactly the same that it is not the hurricane of old. i cant help feeling that with trice at the helm the plan would already be under the way - that is not to say he was a great ceo. however this new bod may well be a case of be careful what you wish for!

gino - as i wrote i have no knowledge on these kind of situations. My mate has and that his was his take - he said the SP will get depressed a lot further and that the buyout when it comes will be a fraction of today's value. however to be fair he does not know anything about the hur story just my hopefully neutral and accurate simplistic overview of developments in the last year.

i really hope he is wrong.

AWK - you know it is very funny you mentioning the dyson hoover thingy again. I have just had a call from a mate that i only get to speak to every now and again as he works overseas. he knows nothing about the HUR story other than the last time we spoke and i told him of my losses and intention to trade to try and regain some back. his advice at the time was to avoid oil companies with no green avenues as the climate had changed.....Wish i had listened!

i told him the recent developments as neutrally as i could and he said it sounded to him like there was someone in the background waiting to acquire HUR. he said it sounded like the bod were trying to depress the price as much as possible so that they could buy back a huge chunk of the equity - giving them the ability to run it like a private company as existing shareholders would have been diluted to hell. The sale to 3rd part then happens and the shares get suspended. shareholders then get a low ball offer for existing shares. I don't always agree with him and I have no experience of this mechanism or the validity of his hypothesis. however i have always found his views interesting and often not without validity.