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Correct, its 30%. Mirisol - Rule 9 of the Takeover Code covers the obligation should an entity cross this threshold - worth doing some homework on the Code rather than putting up posts that may not be factual or correct - or at least add that its your opinion or "I think" if your not sure.
And no current declared shorts on this stock.
Sorry, should have added the another 15-20% probably VC firms and maybe a couple % max from private/Public firms and Company insiders.
Guys this isn't anywhere near correct.
From notes:
Institutions and Hedgefunds account for just over 60% combined, with the General Public holding about 20%.
CRS hold >28%, Kerogen 16% with the next largest holding from memory about 6-8 %.
Guys this isn't anywhere near correct.
From notes:
Institutions and Hedgefunds account for just over 60% combined with the General Public holding about 20%.
CRS hold >28%, Kerogen 16% with the next largest holding from memory about 6-8 %.
.... from Day*one
Ron, I though you may have specifically been questioning the OWC (which was the main reason for the difference between the CPRs) or the formation pressure or the modeling and assumptions that they used to get there. A lot of the data provided is actually in the CPR or available in other documents from the company, so it was actually a genuine question.
I personally think that the OIP and recoverable will be somewhere in between both CPR's and as others have mentioned which will only be really accurate in retrospect when the last drop has been recovered, or they stop producing for whatever reason.
I still do not see how a new CPR will guide the BoD, the CPR just independently verifies what they will or should already know. It may help convince Retail or Institutional Investors if they are looking at support from them, but certainly not on any other forward plan - but I will agree to disagree on that.
As a few on here know, I have discussed Hurricane with quite a few really clever SubSea engineers to try and get ahead of the game - and FWIW, from Day, their opinions were as diverse as the ones on here.
Senseman, I have absolutely no want to remove or report any posts on here.
I think I know the Hurricane story inside-out after many years both investing and working in the UK offshore Oil Industry. I know the huge potential here and the remaining risks and certainly don't want or need to influence anyone to buy or sell on some bulletin board - I will leave that to the muliple post muppets with no real industry or investment experience - crack on son.
Ron, out if interest, which of the data that is in the second CPR are you specifically saying is incorrect, also why does the Company need a CPR to "guide them" on any future drilling campaign ?.
At the minute Hurricane need to continue producing, keep building the cash pot in order to pay off the Bonds and give them options for whatever the forward plan entails.. Every day that the oil keeps flowing at those oil prices it derisks the investment. Cash & Tax-credits could be worth the current SP by the time the Bonds are paid off.
Going forward, someone is going to need to start drilling appraisal wells and someone needs to agree a solution to getting rid of the gas without flaring - whether that's Hur, Hur & partner or some entity all together is anyones guess.
Falcone, if the UK Gov do block the sale of Alva to the Chinese, and I don't think they will, then that would leave the Company possibly in an even worse position than they currently are in - be careful what you wish for.
There are still far too many unknowns here - the plan going forward need to be fully explained, also the state of play with the DHSC - do the DHSC still want the £3.5m from odx, and why are odx facilitating talks with partners to sell the Gov supplied and owned equipment, for the Gov - when many would prefer the local scrapyard to benefit.
Total just secured the services of Stena Spey to work short-term on the UKCS, the Majors are said to be in the market for at least 2 more drillers to work WoS. Looks like the Oil Price and Fuel Security have whetted the appetite for closer to home production.
Mccadder - it would be 7million at 5p if you include the open offer - not guaranteed they will do this but todays RnS just about guarantees that the SP will drop towards the 5p level, even before they announce any raise.
A new CPR, really ffs, a new CPR will not prove anyone was lying or telling the truth - any CPR results/conclusions/estimates will always depend on what figures and info you put in, it will cost $millions, prove nothing and benefit no-one at all. - CRS think they know what reserves and resources Hur hold (hence buying as much as they can), any potential Suitors/partner who would ussualy ask for a CPR will have already made up their mind about Hurricanes acerage, most will have had teams run the rule over the data years ago and will still be tracking them.
The only other real purpose of a CPR is for RBL, unlikely that they will go down this route.
More interesting is the value of the tax credits and very soon the Company could be in a position of having no debt at all, cash in the bank but with Tax Credits worth more than the MC - whilst hopefully still producing nearly a million $ worth of oil per day.
A new CPR, really ffs, a new will not prove anyone was lying or telling the truth - any CPR results/conclusions/estimates will always depend on what figures and info you put in, it will cost $millions, prove nothing and benefit no-one at all. - CRS think they know what reserves and resources Hur hold (hence buying as much as they can), any potential Suitors/partner who would ussualy ask for a CPR will have already made up their mind about Hurricanes acerage, most will have had teams run the rule over the data yeats ago and will still be tracking them.
The only other real purpose of a CPR is for RBL, unlikely that they will go down this route.
More interesting is the value of the tax credits and very soon the Company could be in a position of having no debt at all, cash in the bank but with Tax Credits worth more than the MC - whilst hipefully still producing nearly a million $ worth of oil per day.
*morning star
Youzlez - right name, but the wrong Juan. :-) I believe the proposed chap has been involved with CRS for more than a decade, and ex moving star analyst before that.
Juan Morera is already employed by CRS advisors - so a good and exciting appointment but one that needs a little clarification. Is Crystal Amber officially taking a seat at the table - and as such they will be rightly privy to inside info but with all the restrictions to their trading that comes with being officially inside.
Interesting times.
TopCat, the BoD do not really give a toss about the current share price, in fact the CE mark coming this week may not have been welcome at Alva if the plan was to get a placing away - without it being at a huge discount
However it may now also be a case that II's would be more willing to invest with the CE mark.
Tricky one to call - if a placing comes then it suggests that no large orders are in the pipeline and this will spook the market - if they announce Sales then they won't get a placing away as the SP will rise - but with decent sales then we may not need to raise money.
Next week should be interesting.
Staz, forward selling can and does still happen, rule 120.3 covers it, as well as guidance to rule 1400. Cornhill got fined around £300k a few years ago when the forward sold shares in an Oil company's (can't remember the name) after the placing was voted down by the shareholders. They were fined, not for forward selling, but because they never had procedures in place to cover the possibility of a no-vote at the GM. Obviously google it for full details.
I suspect that by the wording of the RNS, the ODX board would have preferred to get the raise away before the CE news came out yedterday - as any raise now would again be at a discount ti current price after the SP movement this last couple of days -
On the flip side, if they are confident that the test can be sold in Europe from the 01st April then they should have no need at all to raise money.
Interesting times.
OdX are "co-exibiting" with their distributor in Dubai next week in any investors want to attend. - 24-27 Jan.