Member Info for cl2201

It will be interesting to see how this plays out. IIs still hold 45% (those who have declared above 1%) - most remain despite the recent update. Now is not the time for them to remove management since a number of existing IIs will be receiving warrants if and when the proposed financing goes ahead.

Well said.

The major caveat (for me at least) being that if they do somehow deliver an exceptional result (offer/investment/US listing), then I guess I can't complain given that I've had the chance to invest at historic lows.

The irony being that the reason for the FSP, and I quote, was "The Board believes that the current market value of the Company does not reflect the fair value of the electronic patient record ("EPR") health data". On November 2nd (date of the FSP RNS), the company was valued at 100p.
Trying to maximise shareholder value is all good and well, if you actually follow through. If an MBO offer does come to fruition, that would mean 100p+ would have to be achieved for the FSP to have made sense. Answers on a postcard as to whether folks think this is still possible.

"...meetings were held on a non-confidential basis with both corporates and financial sponsors and progress was made on both management buy-out ("MBO") and non-MBO options".
This isn't just about an MBO - there are other options at play here. My preference would be for a strategic investment from a large player rather than a buyout - get that secondary US listing and the sky is the limit.

I came across this: https://www.ukas.com/wp-content/uploads/schedule_uploads/970466/22213-Medical-Single.pdf

Issued 24th August. Could anyone clarify whether this means MHC have reached full accreditation?

Looks to be on the move.

I understand the reference to Friday (11th), but remember it was stated the Technical Review would be released on or before 11th September. It could be as early as tomorrow. Perhaps not, but it's possible - I believe it was Slift the other day who mentioned the ideal scenario as separating the two news releases (TR and Interims) - this is certainly my preference and I do hope it can be done so at least one day apart to allow for full digestion.

Slift - you are one of the better posters on here in terms of what you bring to the board (rational, researched comments). However, I can't agree with this: 'But how about someone new to this board? They may be mislead and manipulated to invest based on the majority of the posts here'.
We are all over the age of 18 - in the same way that you (hopefully) wouldn't listen to a random stranger in the street selling magic beans, why on earth would someone invest based on the advice/prompting of someone here? If they choose to, then that's their prerogative, but full responsibility should be on their shoulders.

'There will be a webcast for analysts and investors at 9:00am BST on 11 September 2020. The webcast will be available to view live through the Company's website at www.hurricaneenergy.com'

Open to all investors.

It's not going to be HUR - I believe Ithaca (Delek) have in the order of a few $ billion in assets after purchasing Chevron's North Sea operations in 2019 for $2 billion, so given the terms described (Ithaca 50% of enlarged entity plus a cash payment from the other party) that would put it beyond our level.

Good to see some potential M&A in the space though.

@Pisces21 - your information is appreciated, however, you will not persuade those who have an agenda not to believe it.

Sure, but that doesn't fit the rhetoric for those who want in lower or are shorting. Let them stick to the 'it's not pumping' story.

'Roll on 11/9'

It wouldn't surprise me to see the Technical Review released earlier that week (Monday 7th/Tuesday 8th) , but only time will tell.

As Beverley is acting CEO, the incoming CEO is described as 'CEO designate' until such time as Beverley steps down.

It's an interesting phenomenon and one which I have seen on a number of other BBs. It's the type of poster who I genuinely believe has no short (like ngms27) and therefore no financial gain to be made from constantly bombarding the chat with negative statements. I can only surmise that the origin of such behaviour lies in the unconscious need for said individual to gain back their loss of face/intelligence/(call it what you will) from purchasing the stock. Often the focus of negativity is at the CEO/board/management but can also manifest in different ways. Rest assured, it is always a way of deflecting responsibility from themselves for making the investment in the first place.

Highly unlikely at this stage, however, I wouldn't rule out the possibility of a merger with, say, Zennor Petroleum (owned by Kerogen). Zennor's modest, yet stable, production would tick the new entity along with HUR's contribution being the, now riskier, blue sky potential. All a pie-in-the-sky guessing game of course, though with Kerogen's (supposed) increase in control over HUR they might see it is a natural fit, with the end game being a sale of the merged entity further down the line.

@ PalntedBHA
'As announced on 8 June 2020, a Technical Committee of Hurricane's Board was established to re-examine the full range of possible geological and reservoir models for the Lancaster field (the "Technical Review").......
Completion of the Technical Review is expected on or before the Company's interim 2020 results on 11 September 2020'

Kerogen have a blocking stake, so essentially up to them as to whether an offer has reached an acceptable enough level.

You bought less out of choice, right? Otherwise you would still have 85k+ shares.

What are you talking about? You can buy in at less than 5.1 now. You simply need to purchase them again and you are back to square one with a few extra shares.