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We should get that Times article to the big shareholders
This is a terrible deal. 12.5p worth of shares in Prax would be more acceptable
I agree it seems like a terrible deal, to accept up front cash for less than what the market was valuing it. It's so frustrating for Hurricane to have weathered all these storms (apologies), only to be sold on the cheap just as the long term prospects for oil starts to look good. It feels like corruption to the deepest. Why didnt we get the permission to drill new wells from the OGA. We're in a good position to do so now.
I apprciate that the largest shareholder wants out but I'm surprised they're keen for this offer its on a hope and a prayer that we get anything further down the line.
So anyone holding shares on the 31st Jan will get the dividend? Why wouldnt you just lump in now for a 45% gain? Obviously share price will drop after its paid but doubt it would be by as much as the dividend.
I definitely agree we need to get another well up and running in order to reduce risk but unless Lancaster actually has greater reserves than stated in the last CPR then how is that going to help in the long run since it will just be lifting the same reserves? I'm not an oil man just before someone tears me apart here, just been invested since Trice unveiled his great plan/pipe dream.
I also agree that the £1 ramp brigade need to chill a bit since that only gets people burnt.
Lastly to echo what RetiredBanker said earlier, its amazing the change of tune we've had from the board. Of course oil price has played an important role here but they should be seen for the scammers they are with that prior use of language about share holders being left with zero value, its now so obvious those weasels were trying to force the share price down. What a change a year can make. I really hope we dont just get sold off before having a chance to exploit some more of our resources now that the market for oil has completely shifted and likely to stay this was for a number of years.
Surely it makes more sense to invest in further production? Firstly because it will lower the amount of tax they need to pay for this ridiculous windfall tax. Secondly because with only one functioning well we are in a pretty precarious position. The downside is it its a dud and that would be pretty detrimental to the balance sheet.
Do we know when to expect the next offload? Wondering if it will be this month or next. How many barrels do the containers normally hold? Can work it out from there roughly. First 5 days and last 5 days of the month matter in terms of the price we will get for it.
Got to be a leak of some kind to do 40% like that. I know the RNS yesterday was pretty good but why not the rise yesterday?
Emails sent.
This has no doubt been covered before and I understand why we still have Maris and Chaffe at the company but are we not in the process of looking for replacements? How long do we have to keep these clowns on for?
Also would like to thank Senseman for all he contributes here. I had basically given up on this company and even if it doesnt work out its still been amazing to follow what has happened here over the last few months. The story would make a good book or possibly even a movie! Thanks again.
I think it’s likely that the shorts were taken out based on expected Coronavirus hysteria and a majority PI holding here as well, combine that with some current uncertainties making HUR a good choice I guess. Now that there is news that it may be peaking they are closing out. Just need the last one Marshall Wallace to clear out and we can feel a bit more at ease. Annoyingly they have played a blinder
I dont think DSSP is a paid deramper for what its worth. He's been on that Lemon Fool thread since the start back in 2017, it would one hell of a long game. I guess an increasing water cut is a worry and until the situation is properly confirmed by the company and addressed or stabalised then there will be some concerns.
This may have been covered previously but is there any way we can find out who holds the convertible bonds?
I don't know what the shorting history has been like on HUR but its not very reassuring that they are increasing their short position when we are at this price.
I’d rather they get on with their job to be honest and spend time finding a decent location for a new well at Lancaster or something similar. It’s not their job to babysit nervous investors.
I read that as the amount doesn't change depending on the rate at which you flow the well? i.e. reducing the flow rate does not decrease the percentage proportion of water produced.
With Schroders selling into any rise I think even if the results for this Saffron well surpass expectations the share price reaction will be severely restricted. It would be good if they could come out and state their commitment to the company but I realise that's very unlikely. It will take a long time to work through their 10% ownership at this current rate. Very frustrating for them to be offloading at this time.
I think we are likely to see a decent rise once they tie back Lincoln to the AM and start upping production to closer to 30k BOPD. With that sort of money coming in and the ability to self fund future development opportunities I think it would be hard to ignore us.
Surely they will want to tie it back to the AM asap to boost BOPD and revenue to put it in a stronger position for future development or any financing requirements?
Wouldn’t we get notified if CA were cashing in warrants or decreasing their holding?
I do enjoy Longwait's humour. Particularly this one and the one about how finding too much oil will be a problem for us.
Seems like a suitable name for the time being as well!
I'm in for the long haul as I can't trade but I wouldn't really feel comfortable doing that anyway for fear of being on the wrong side of it when sentiment changes or like a previous poster mentioned, a potential bid is made.