Member Info for Cebo-456

Read the link that flying pie posted above, it really isn't that complicated - So for any Company to get real value for money and offset their tax liabilities, they need to be producing a decent amount of oil and profits. That is why it really only makes sense for Hurricane to somehow aquire another producing assett - (unlikely but not impossible, and a deal with BP for the Andrew or similar would not be that far fetched - but like I say, unlikely) or more likely a merger or takeover of Hurricane - where the suitor can offset their current tax liabilities on their own assetts against some of the cost of the acquisition, some lease costs, Costs for FPSO mods, WOSP tieback or gas reinjection assocuated costs, even some operating costs and all the Exploration, drilling/testing and tieback costs.

The 80% tax relief can only be used to immediately offset the extra "windfall" tax that the government are taking from producing Companies in production from 28th May (or was it June) so not hugely beneficial for Hurricane to fund exploration themselves as their extra tax liability will be nowhere near the 100+million$ needed to drill a well (or two), tie back and go into production themselves. - Borrowing costs cannot be included either - that's why it is more likely that we will see M&A action so that some mid tier or large oil producing company, with funds in place, can take a chance on Hurricane , fund the drilling and offset their extra Tax liability under this new bill that is coming through.

He still us a regular - he just calls himself something like KrazyKats now.

Daltry, I am no supporter of the current Board of Directors, but it does look like Crystal Amber seem to be tolerating them and voted at the AGM to keep Marris in place - surely that speaks volumes and tells a story.
Also, rightly or wrongly, you Haggis and others want this "plan" - but surely not even a competent Board of Directors would or could issue any sort of plan whislt the Engery Profits Levi Bill is, or was, still only a draft document and still under consultation till earlier this week. This Legislation is a game changer to how any plan is financed and by whom - I suspect that this legislation changes everything and RB and the BoD know that. - Particularly regarding the Investment Incentive where Oil and Gas companies can immediately offset Capital Investment expenditure as well as some Leasing and Operating costs. Further more the fact that unlike Tax Losses, this does not need to be activated against relevant income and can be used to create or augment a Levy Loss - this surely means that the Mid Tear and Major Oil Companies would rather invest than pay the Levi to the Government. The fact that finance costs and decommissioning costs cannot be offset under this new legislation can only be in Hurricanes favour.
I am sure that the clever legal people in all the large energy companies will now be doing the sums to ensure they give away as little as possible under the new Bill - clarification will be needed on how much acquiring a small Company like Hurricane could be offset given that they have already been granted the ring fenced allowances - but certainly 80% of any further costs to upgrade the FPSO, drill, tieback to the Wasp (or whatever other Gas Solution they decide on) could be immediately used to reduce any suitors current Levy Tax bill - and then can Hurricanes ring fenced tax losses offset production on not only Lancaster but also any other of the suitors producing assets ????

Possibly because she wouldn't have a HOPE hope in hell if getting a placing away at 30p.
Let's hope that the Company are aware that anyone with any inside knowledge of TRX could have mad a real killing trading and possibly shorting (if offered) Val over the last 6 months or so.

I think drilling is a red herring and do not believe that the BoD have any intention of drilling - plus if they were then why wait till Sept to make that decision - it would then be Q2 before everything was in place to start drilling and unlikely that even a successful drill would be in production any time next year.
This has M&A action written all over it, not sure which way. I also think we may see the directors finally buy shares this coming week - although possibly only a token effort.
Thanks for the feedback on the AGM guys

No one should be surprised in the least on this - it has been on the cards for a while now and both the previous RNS before todays were written in such a way that they would drop the SP to get the placing away. No timline for TheoremRX to raise the cash and Suzy's talk in the interview a while back saying or insinuating that Val would walk away if the latest stop date wasn't met are quite frankly embarrassing. So 10p it is, even a positive interview will not stop this dropping to the 10p placing price as Suzy's credibility with investors is shot.

Its a computer that generates those useless click-bait articles for Simply-WallStreet - and they rely on muppets reposting them on BB's like this one.

Most of those questions can only be answered by issuing an RNS before the AGM - the one regarding having "skin in the game" will most likely get a response along the lines of - we cannot comment on individual board members private share dealings etc.
I also doubt that the Company will or can divulge any details of any forward "plan" or M&A related details before the government divulg the finer details in how much and in what circumstances the WF-tax can be off-set.
To the chap asking how CA will play this - IMO, CA will do exactly the same as the rest of us - look to make as much money as possible for ourselves - they do not owe PI's anything in fact it may be argued that without RB, Hur would be in the hands of the Bond holders already - that said, if you drop RB a polite e-mail, he does ussually respond.
Some good questions which may get the BoD thinking, and may prompt an pre-AGM RNS, if not then don't hold your breath about getting answers to the majority of them.

Last weeks RNS was shocking - "the company intends to seek confirmation" - the Company and CEO should demand clarification from TheoremRX and then have let shareholders know exactly where they stand. I fact, I really cannot see any reason why that RNS was needed unless it was released knowing that it would have a negative effect on the share price - which will help get any raise away at a discounted price to the SP as it was on the 17th. The Company now needs money, lenders and investors will want a decent discount to the SP and PI's will have no option but to vote in favour. Good luck - for transparency, I am not invested at the moment, I do believe Val have a very decent future but also believe that unless Suzy pulls something out the hat and soon, then their will be a raise and the SP will drop towards that level (12p/13p) which may be a great buying opportunity for anyone with some dry powder. Just my opinion.

Can't really disagree here, single figures if the deal with TheoremRx gets pulled, and back to the 30's if Suzy get it over the line at the third time of asking. More importantly , Suzys reputation and credibilityare on the line - I believe her to be a great scientist, and honest and trustworthy person - maybe not necessarily the CEO and dynamic deal maker that this Company needs - hopefully she proves me wrong. FWIW, I am sitting it out for now, which may have been obvious given my thoughts above :-)

Fortussimo - Hur have already set aside the Cost for future decommissioning so have zero liability there - and BP will not be looking at selling assetts to "offset their tax bill" in fact if anything, all the signs are that BP may be looking to invest more money West of the Shetlands in the near future to reduce their WFT bill - It really wouldn't surprise me in the least if BP reverse the decision on the Foinavon wells and end up putting another FPSO on it to continue producing once the Foinavon gets towed away/scrapped in a couple of months time. If the rumours are correct- BP are also in the market for a couple of drillers to work WoS starting in the next year.

Most realised this was what was happening when they never tendered for a driller to work this year. Correct decision in my opinion. Inyeresting ti see what they do with the ever increasing cash pot. Projections in the RNS are for Brent above 90$ - I don't see it being below $100 any time soon (currently $116).

And yes, basically if CRs want Maris and/or Shafe out then I am pretty sure we will know soon enough - and if thats the case then they will probably walk prior to the AGM. Now given that CRS could call a GM to vote them out at any time, I suspect that perhaps they are now relatively happy with the direction the Company are taking, and official Comms between RB and the BoD have perhaps improved significantly.
The forward plan is needed very soon - reading between the lines and readibg what is coming out from Hurricane - I suspect we will now see M&A action rather self funded drilling which carries a higher risk.
Just my opinion though.

- rubbish - one of the other directors ussualy steps up on a temporary basis and the Company have 6 months to make it official or find a new one.

I have always been a huge supporters of Suzy, she is doing a great job, is trustworthy and trying to do it the right way. Unfortunately, I now have zero faith in the Yanks - if they couldn't raise money by Q4 2021 and then missed the next deadline - how confident are they that, or any if us that they will hit the End Stop Date?. I really hope that Suzy isn't being strung along and if they fail to come up with the cash then I hope she tells them to sling their hook and has a Plan B.

Gr

Good luck all here - I was locked in last time this was suspended and it worked out mighty fine, but I do not hold any this time - not sure if that's a good thing or a bad thing - but in both instances there is absolutely nothing anyone can do to influence the news that is coming, no one can sell or buy - so may as well switch off until news is announced. - but good luck all that remain holding, hopefully its the big one (sale).

And anyone thinking that the China is a route to market are also kidding themselves - it China really want it then they will copy it and then produce it in China. Simple

Anyone that trusts TB really needs to really give their head a good shake - the way to play this may be to wait till it drops to below 15p, buy, wait till it is pumped and then sell before TB flips his shares again.
All IMO