Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
we actually got the results. Not exactly as much info as previously released. They were included with the Half Year results.
Go here: https://www.hurricaneenergy.com/investors/regulatory-news
Click on Half-year Results & Operational & Financial update
and this is what you get (Ctrl F for '25th' will take you right to it):
"As of 12 October 2021, Lancaster was producing c.10,450 bopd from the P6 well alone with an associated water cut of c. 35%. The 25th cargo of Lancaster oil, totalling approximately 530 Mbbls, was lifted on 9 October 2021. The next cargo is expected to be lifted in late-November to early-December 2021."
thanks GD, I completely missed that.
Should have been published about two weeks ago.
Interestingly, the ongoing investigation by the non-execs would have been ongoing at this time (and it may still be). I wonder if the failure to publish an RNS (which I'm not sure but I think is something only the CEO can do), is somehow related to the ongoing investigation?
Indeed, where is the uplift sale RNS?
Typically it comes out around 15/16/17th of each month.
Can only a CEO put a company RNS (i.e. no other co officer)?
I cannot see why CA would want Maris still associated with HUR. Regardless of whether he did or didnt do anything that undermined the co he is tainted by associated with the previous BOD. I can't really see how he stays in post, and Chaffe as well. If I was CA id want them out and replaced. I imagine there would be a decent rise in the sp if this happened as investors could believe that the leadership actually represents the shareholders best interest.
We'll see, really have no idea, but if CA's money was my money, id be agitating for a change of leadership pronto. Lets get that sorted out first.
(which is to say if Maris is shown the door, then I have a suspicion that Phil Wolfe may take the role of interim Chief Exec). As I understand it, David Craik mentioned to some shareholders via email that the conclusion of the investigation into Maris and Chaffe should be around end of month. Phil Wolfe's hire / audit report seem to be related.
Where to start.
- The market is not going to reward a company where the management tried to force a restructure on it. Maris and Chaffe need to be shown the door and replacements found. The market will not apply a good valuation while those two are still in place. I have a feeling Phil Wolfe was selected as a NED in the event that the audit being carried out by the other two NEDs finds the CEO and CFO complicit in something dodgy vis a vis the ad hoc bondolder group.
- Though the risk of not paying off the bonds has almost entirely diminished (bonds trading at 86 cents as of today), market will be wondering exactly what the plan is for the a.) extension of the FPSO, b.) what the plan is beyond Lancaster
- Brent trending up is super helpful, but these other points need to be addressed if we are going to get a decent valuation here.
All imho
best of luck
CBS
gap fill at 12p as well
ahh understood thanks for the clarification winalot
Hey Hull
I'm not sure there was an engineered fall for CA to buy back in. That sky is falling RNS seemed to be a broadside to CA that Maris and Chaffe are still in charge and can stick the sp in reverse when they want to, foisting CA's (and our) objective of a higher sp.
re this:
"As such, the Company anticipates releasing its 2021 interim report and half-year results on 14 October 2021, taking advantage of the one-month extension allowable by AIM to release interim financial statements within four months of the interim balance sheet date rather than three months.
-->Would seem they want the one month extension as it should pad out the balance sheet reporting given the rise in the oil price and the pretty good lift rates at Lancaster.
All the best
CBS
Just sent mine in now, add to the list.
Exactly my thoughts WiTech. The notion that the bonds wouldn’t be redeemed at maturity needs to be out to bed. The ask on them is 10% from par currently. As a metric for default the signal is that there isn’t one coming. But it seems as long as two of the conspirators to the action still run the co. for the most part I don’t think the market can take this share seriously until they’ve been shown the door.
Senseman - that was my understanding of the RNS issued when the old non execs resigned. I wonder if CA can fill the role with an interim Chief Exec.
Up 2.3% today trading at around 82.5
Hey remember that time HUR was going to default because it couldn’t pay back it’s bonds by maturity and the old
BOD and bond holders tried to force a cram down on the co and ruin shareholders? It’s almost as if that was a contrived series of events in order to grab a producing asset on the cheap. Good times eh?
If the well really is all done and dusted in a few months the bond market ain’t buying it. Bonds are up 1.25% today.
enoyable interview TDT. Jeff Gundlach is a smart guy, have been following him for a while now. Reasonable ideas re 4th turning.
Indeed. I think there is perhaps a malaise with this sort of argument however following 20 years of rapid change involving the wide rollout of the internet, the GFC, spiralling debt both state and personal in most parts of the Western world, and now the pandemic. I think it is plain to see why there would be cynicism.
all good chat and this is the first and last ill say on the topic...What is the World Economic Forum's goal? In a recent media campaign ( a few months ago ) they proposed that in the near future: "You'll own nothing and be happy."
Personally i'd like nothing more than a giant sink-hole to form in Davos while all the good and great are enjoying canapes and champagne while solving climate change.
on support. Pick up any stabs beneath the lower line or buy here.
https://invst.ly/vsvof
Best of luck
You have to take a government seriously when they legislate this:
https://www.dailymail.co.uk/news/article-9888899/Scotland-let-pupils-aged-FOUR-change-gender.html?ito=social-twitter_mailonline