focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Although not stated on the AGM notice, judging by the size and location of the venue, I doubt that it was open to normal shareholders.
I may be wrong
Dibs, Swag etc, I suspect that the reason most do not reply are because they are probably bored with a lot of attention seeking cr@p that you and a few others continuously post, you guys need to get a life, remember this is just a online forum, hardly real life and not worth spending hours every day looking for attention on a company you are probably not invested in - and if you tell me you are then I really couldn't care less.
For most, certainly for me, the wait is frustrating, yes Colin / ODX could have played it differently but the majority of the delays are now out of their control. I doubt MHRA can give their approval until this has had the CE mark of which could and should come at any time - in fact CE marking could be the final tick in the box needed for MHRA to let this be used and sold in the UK. I would be surprised if the Company and MHRA haven't been communicating closely throughout the whole process.
Feel free to continue to bash the company, CEO and any others that post anything positive on here. If your constant negativity makes others sell then more fool them. For me I can continue to confidently wait, trade a few on the dips and peaks and see what the future here brings.
Others including yourselves can trade and post as you please.
Schlemiel, we do not even know if some of the ad-hoc group were amongst the 33%. Plus as long as the well continues to produce the AHC are pretty much toothless and out of options, they can carry on until next year collecting the interest but there is not a lot else they can do - they have no voting rights unless they also own shares and Hurricane now look very likely to have more than enough cash to pay them off completely when the time comes.
Getting the BB charter over the line is the next step and I expect that to happen Q4 if not sooner.
Other comments - we do not have a new Board of Directors as some keep saying and CA do not have directors on the board - we have 2 part time NEDS after the old NEDs got found out and jumped before being pushed, Chaffe and Maris are still there "for the time being" but being kept in check.
It does look like the SP is starting to move higher and it will be interesting to see if the small short position here is reduced since the risk has reduced along with the "debt", possibly even some ex-bond holders that are cashing in will now take a long position here.
They may have access to the board, but at least in theory, they should only recieve the same info as the ordinary PI. What they do have is a full research team that will have done their DD on all the fundamentals etc before investing here.
DC, that is exactly why Maris and Chaffe are, or at least should be on borrowed time.
Update on the Aoka Mizu charter would now be very welcome.
Casapinos, thats where your are wrong again, Kite Lake and Astaris Capital have declared shorts in Hurricane to the tune of around 1.5% and more than likely a few more under the regulatory threshold to declare - if anything it is hugely unlikely that they are Naked shorts and, in my opinion, linked to Bonds.
Your also not making much sense, on one hand you say there is minimum value in the Company - which of that were the case then the Bondholders would be snatching their hands off, and on the other hand your saying the Bond holders would be daft to sell at a 20% discount - why wouldn't they take the discount if it reduces the ongoing risks unless they are either hedged or the risk are bo where near as considerate as some would have is believe.
Casapinios, I think your simple assumption is wrong and your assumption of how Bond holders will think or play this is completely wrong yet again - that said, I also think that the majority of Bond holders will choose not to sell but we shall see.
If Hur can buy back anywhere close to $100mil at 75-80% of face value then that means they save on both the discount plus the interest and as such should have no issue at all paying the remainder off in 2022.
As you know, or should know, a lot of those Bonds may be held as part of an Arbitrage Strategy in conjuction with shorts etc to keep the arbitageur generally market neutral with minimum volatility (effectively just picking up the interest). It is also possible that Astaris or Kite are also holders, not sure.
So this offer may have really put Bond Holders on the spot, if some sell then the SP should increase, particularly if those linked to any short position have to close, this puts pressure on others - there may be some that decide to keep their arbitrage position and others that may decide that they can simply make up the discount and then some by taking a long position in the Company.
The next few days should certainly see some interesting price movements here, even if many of us do not have a clue why they are happening.
Yesterday's RNS was extremely good news and more than underpins the current share price, although more details and confirmed orders would have been nice, this still looks like a bit of a steal at anything under a quid.
The big one which will put us in another level is if and when we get the news of Tech Transfer being complete for manufacturing the AffidDX Covid Antigen test from Avacta. At the end of June, Alastair Smith (Avacta CEO) stated that they were a few weeks away from establishing manufaturing processes with Abington Heath - this must be very very close now. News that TT with the Avacta test has completed will, IMO, send this back to new all time highs, if it is also accompanied by orders then it could well bag several times from those levels. All IMO
Presentation in just over an hour, should create some interest. Buys going through on Nex rather that the London Stock Exchange so not being picked on on LSEast
DA, the time hooked up would suggest so but there are a lot of factors, apart from the ammount of oil being offloaded that can prolong any offload. That said they like to spend as little time as possible hooked up so it would suggest a full load.
Yes, tanker still hooked up and FPSO still producing as we speak (type) and routine crewchange chopper en-route from Aberdeen.
Geordie, spot on. It may also be a hedged long position but will be interesting to see if they reduce it any time soon.
Jupiter are the only fund with a disclosed short position on Avacta, there may be more under the 0.5% threshold and as such not under regulatory obligations to disclose their position or change to the FCA.
Geordie, spot on. It may also be a hedged long position but will be interesting to see if they reduce it any time soon.
Jupiter are the only fund with a disclosed short position on Avacta, there may be more under the threshold and as such not under regulatory obligations to disclose their position or change to the FCA.
Hull, some good points, not so sure about the "new proactive BoD" that you and others keep mentioning - the Company appointed 2 NED's - John Wright and David Craick, replacing the 4 NED's and chairman who jumped before getting pushed. Chaffe and Maris survived but are, in my opinion, on borrowed time and rightly so. JW and DC will steady the ship for a while and stop any underhand tactics from the Chaffe and Maris until the next chapter plays out. The BB charter for the FPSO should be relatively straight forward, the fact that there is no news on that may mean that bigger things playing out behind the scenes.
All IMO
The thing is any bidder or fund as you suggest could not simply buy 25% of Hurricane on the open market at 2p a share without sending the SP back above 5p - demand would push it up as would any TR1's. they could I suppose do a deal with CA, but RB would certainly be looking for multiples of 2p per share.
Ashurst are already following the situation and have been since before the Court hearings. It wouldn't surprise me if Evercore, Dentons etc haven't already been asked for tactical or strategic advice regarding Hur by potential suitors, or possibly even our own BoD, who knows.
I do think that a Consortium of Private Investors would be more likely than any established O&G company if any M&A action was on the cards. - Any entity with deep pockets that didn't have to answer to any PI's could take control, pay off Bond Holders, refinance a forward work-plan, appoint 2 primary contractors (Petrofac and ASCO!!!!!!) To run the show and then sit back for a few years and enjoy.
AIMO