Member Info for CaptainSwag

john - i though there was pi questions this afternoon? or has it been cancelled?

yes especially as he was saying there was a lot more oil at lancaster...or is that now what they think could be in the sandstone?

well it was obvious that some of the ii seem to think that it was trice obsession with his chem experiment on fb when the data showed oil was in sandstone....the question is how much is there and they can get out?

they keep saying future looks promising....but it is hard to see from the rns...typical hur more questions than answers

hope some good questions this afternoon

awk - i agree it is disappointing as they could have released tech review after hours today. but if i am honest i never thought they would.
thinking about it i think if there was going to be a leak it would have been earlier in the week and not in the last hour - i think the rise was probably set in motion by some trades and then FOMO took over.

so we are none the wiser on which direction it will go. i am also not looking forward to wading through the tech review so early - it probably needs time and a clear head

i also think we are looking at the serious possibility of a crash - redundancies/2nd wave worries etc etc
not sure how new 6 people rule will affect flights/pubs etc - just as it was starting to get back

i think if there is a long term future in lancaster then the bad news is pretty much priced in and we should be on the way up again. The issue for me is why and how much the reserves will be downgraded... not long to wait to finally find out

the new ceo was out of a job and he has never done this role before - so he can now add it to his cv for any future position. if it goes pear shaped i am not sure he will suffer as he can say it was all doomed before he started...so i am not so sure that it is a guarantee of anything. however he should be given the benefit of any doubts.

awk - its an interesting question if they will release before 11th. If the company are now more investor orientated as their last rns suggested then you would expect it to be released earlier for digestion beforehand.

i wait to be convinced....

cl2201- i agree that we have to take responsibility for our decisions...however i agree with slift - when you are new to investing and read stuff that seems as if posters know more about the company and whats going on it - it could potentially sway. especially if you don't know anything and think you have stumbled on a mine of information.

slift - fair point. Bit of wishful thinking on my side!

genghis - i agree there will be nothing significantly different in the presentations that has not been said in rns on the day or before. obviously some tough questions will be asked in both presentations - be interesting to se how they are handled.

my worry is that HUR has always been a bit of a leaky ship - so i think the heads up will be out one way or the other prior to the rns. I don't know if that is what Jadam was referring to?

pedro - fair point. my guess is that the questions answered will be mainly if not all the ones submitted in advance..in which case will be just another presentation. However in fairness I will give them the opportunity and there is a new guy in charge.

my comment was really that they could have said production restarted on the "xth" and we have just completed our latest offload.....it would have not cost anything and LTH could do with something positive after seeing 90% loss

i have to say i agree with penny.
One of my biggest issues with hur has always been communication with hur. I always accepted trice as not caring too much about investors - but he was the boffin type.. I havent seen anything to think it will improve in the future. They could have taken the opportunity to update on production .

slift - impossible to know how large my loss is in hur...but it is large....i was in before lancaster at 27p ish from memory then saw it go down to 16p sold out losing a lot..but saw it go to 10p before buying back at 30p on the rise to 60p...probably why i held on so long this time - kept thinking if i sold it would go back up..lol
since GWA drop I had bought more down at 35p/25p/15p/12p as well as quite a few trades which have been profitable except the one the trading day before trice left - got caught out on that....

if i knew there was definitely a future i would buy back in heavily again - but not prepared for another 30-50% loss or more on hur again.....it really does feel like red or black...

GLA

red .. i think everything depends on next update . if hur are a going concern in the future then yes they could/should be.

really depends on reserves / water cut / future plans....bad news and i can't see anybody interested especially not in this environment

i still think an RNS had to be released because

a) news of the stoppage had already leaked out - putting some investors at a disadvantage. In view of the issues this was a reassuring RNS as the news could have been manipulated in a bad way to panic investors.

b) there is a big difference between a downgrade in resources and reserves. This was actually the reason i sold out because reserve downgrade puts into question the longetivity of the EPS / possible FFD / ability to sell the assets etc etc.

I do think the board were lucky or shrewd because they got both bits of bad news out with only a minimal drop at the end of the day. I would have expected a bigger drop on either one.

dark energy - i know how you feel. I am practically out with just a small pot in a sipp. I am trying to decide what to do regarding the september update. i know if i am out then it will rocket and if i am in it will crash .

i dont blame trice for the outcome of the drills - thats the risk you take. i think a lot of people forgot that the whole thing could have gone wrong since last june. i certainly believed that as every month went by we were more secure - if it was perched water. i do blame him for communication and management - but he is not the only one guilty of that.

i suspect we will have even less communication from new board. AIM companies are used to doing the interviews etc to promote and sell the company. trice seemed to enjoy the chance to talk about his train set.the issue with management of bigger companies is that they dont have/need / want to and so the new board are probably not used to it. for example i suspect malcy already knew was never going to get the interviews that he used to get and so has lost interest in promoting hur,

FWIW my thinking over the last couple of days is that the new CEO got the job because they are prepared to try out the various options Pharos used. so i agree with the idea that gas injection could be used. I think they will obviously still have sidetrack/well 8 in mind...but i suspect that is a way off (weather window) and that they will have to act sooner with the current wells - I suspect the water cut has increased which is why they are not giving details of production restarting in RNS .
To my mind there should have been an RNS - as there was when production stopped.

as for data gathering - the original intention of the EPS. They have already collected a lot (nearly a year since continuous production)...and current state of play is that these wells are not seemingly a long term prospect as they stand. So they need try something different and collect data on that.

if the tecgh review is released with the downgrade and at the same time future plans of gas injection etc - the question is will the market be happy or not....

slift - interesting that they did not use last fridays rns to talk of resumption of production and figures. not a good sign in my book.

old - hur need a ceo. beverley was only interim.
AM needed a job - linkedin has his last job as dec 19. he also has no experience as ceo which is the first position to his usual 2nd of COO. so he can now go to another job with that on his cv. i have seen many managers do this in my line of work - they know the existing company wont promote them to manager. they take a job as a manager in another company - knowing it wont last - but the job after they can now say they have managerial experience.

not saying it is the case here - but it is a possibility.

yellowman - i think hurs future will very much depend on the tech review and new CEO plans.

Actually a lot rests on new CEO - i was thinking about this over the weekend....would he take the job if its a just about to go under?....however he has never had a ceo position before and maybe its just an addition to his cv for the next role.....in a way hur is a no loser as everything can be blamed on prior to his arrival. maybe that was part of his conditions?

oh well 3 weeks and we should know all

slift - i think you have hit the nail on the head - the bod are clueless at the moment as they have rejected trices model and don't know where that leaves them. I don't blame them for that. it was always a risk from day 1. i suspect many people didnt really consider the risk until the poor GWA drill results which is why sentiment was hit hard. i was more worried in the first 6 months - as time went on and trice seemed still convinced on perched water i felt the production was the proof we were going in the right direction.

this new assumption has thrown everything upside down - and to be fair there were those who warned about but i chose to believe trice.

i think the bod have done ok - other than poor wording in rns and i still think they could have notified when we were back producing...when i say ok if there is a material downgrade in reserves. if there isnt then they will have cost a lot of people a lot of money.