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Anyone linked to old incredibly toxic HUR Board of Directors needs to go, they did nothing but deliberate shareholder value destruction and a with new team here along with much higher Oil prices, undervalued Hurricane Energy can only become a coiled spring here thereby, hugely rewarding it’s long suffering shareholders moving ahead.
Wow, Brent now up 3% around $82 mark, HUR is printing money!
“operationally Hurricane is actually appearing to go well, prices are creating operating cash flows materially ahead of market forecasts including my own but are not recognised.
Also the FPSO is going at amazing uptime rates, given it was getting such bad press makes me feel that it has to fight its corner every step of the way. If I didn’t know any better I would say that the ghost of directors past was trying to create unnecessary disquiet in the hood.”
https://www.malcysblog.com/2021/09/oil-price-iog-predator-petrotal-hurricane-serica-ujo-and-finally/
Highly likely that remaining institutional Shorters took advantage and closed their small leftover positions in full yesterday, we’ll soon find out.
Interesting points, particularly as there was absolutely nothing new or even worthy of mention in today’s HUR RNS and likely a deliberate attempt by Maris (and possibly CFO) to try and somehow avoid any potential investigations into Ex-BoD deliberate destructive actions, now we definitely need an investigation!
Absolutely, HUR is massively undervalued/oversold, market has finally woken up to this fact and hence this will hugely re-rate north overtime, just look at the cash rolling in here along with huge assets/potential etc. And it becomes crystal clear that HUR extreme lowball MCap of today is complete nonsense predominately driven by the very corrupt ex-HUR BoD.
“Positive RNS here stating known routine operational issues with Brent now set to even rise further in Q4, and usual known Shorters here cannot obviously be happy with positive direction HUR is now taking, DYOR.”
Spot on! The usual gang (who had disappeared recently) will as always try to use anything to cover their now increasingly disastrous looking Short positions here and disappear again overtime, don’t forget that this BoD has been directly appointed by CA who now own more than 25% of the company, also, if HUR is taken over by big players (likes if RDS who now have lots of cash post recent asset sales), it will certainly be in double figures with a very juicy premium priced in here with Brent trading at circa $80.
“What about the reservoir engineers, ECR Equipouise? They produced the CPR. What's their role in all of this? Monetary dimension?”
ERCE produced their report/new HUR CPR based on data provided to them by HUR’s very very crooked Ex-BoD (as it was conducted in their time with their agenda!), hence no surprise there lol. Now HUR needs a new truly independent assessment here particularly as the divergence between the 2 assessments was strangely/incredibly huge!
Interesting reading and a very positive take on HUR going forward , thanks for sharing LD.
HUR currently up 3%+ so far along with Brent also up more than 1% today trading at $75+, and all looking very bullish going into Q4:
https://tradingeconomics.com/commodities
I concur. Today with new HUR BoD firmly in place/action, and particularly from these extreme lowball valuations, upside potential here in HUR by far outweighs any downside risks, DYOR, and GLA.
Expecting a decent rally here towards/at the close of the day/week, HUR MCap is now clearly way too undervalued and oversold, DYOR.
“Bank of America Global Research said it could bring forward its $100 per barrel oil price target to the next six months from mid-2022 if the winter is colder than usual, potentially driving a surge in demand and widening a supply deficit.
A much colder than normal winter could lead global oil demand to surge by 1 to 2 million barrels per day (mbpd), with the winter supply shortfall easily exceeding 2 mpbd in such a scenario, the bank said in a note dated Sept. 10.”
https://www.reuters.com/business/energy/bofa-could-bring-forward-100-oil-target-event-cold-winter-2021-09-13/
https://www.google.co.uk/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/960005
Obviously no one is willing to sell here at these extreme lowball valuations, particularly while awaiting key company updates from the new BoD in place, but MM are trying hard to get your shares on the very cheap.
Upside potential in HUR today by far outweighs any downside risks; HUR with it’s new BoD firmly in place is now clearly way too oversold/undervalued and hence IMHO, a sitting multibagger here, so don’t giveaway your soon to be extremely valuable shares for almost free, particularly when trading volumes are this low where SP for small MCap companies can be easily manipulated, DYOR.
Patience is certainly a virtue, particularly when it comes to investing and IMHO with the new BoD now here, HUR SP will be back in double figures lot sooner than some may currently expect.
“Yes, tanker still hooked up and FPSO still producing as we speak (type) and routine crewchange chopper en-route from Aberdeen.”
So must be a pretty decent upload here from the new team.
"Expecting a stream of positive updates here (variety of open issues) from the new proactive HUR BoD in the coming days/weeks, and months ahead.”
“company news which I am currently anticipating on receiving here are potential positive updates on AM/FPSO contract renewal, various Farmout/JV possibilities, a bridge loan (possibility of which was never pursued by the previous useless board who never seriously reviewed new investment possibilities in today's liquidity abundant and ultra low rates environment), forward plans including possibility of any drilling campaigns along with the continuous production and logistical progress updates, potential BoD/Executive Team stock purchases here once any closed periods are over...................and even possibly news on a takeover/bid facilitated by CA!”
“And to add to your stated list here, how about eventually a new and truly independent “CPR on West of Shetland Assets” of HUR, especially since the one conducted by the previous board was motivated by a personal agenda (and greed).”
All interesting points raised here in this trail on potential BoD forward actions and relating forthcoming updates which are all very plausible, we need to note that HUR BoD is still relatively new and may require time to fix many of the unnecessary issues caused by the previous administration, and additionally, could currently be in various sensitive discussions/closed periods on which we will eventually be updated, more importantly noteworthy is that HUR now has a new team in place which fortunately has all the stakeholders interests at heart and will work diligently towards achieving them unlike the Ex-do called BoD.
Good Post/Points here, agree with HullFC4ever.
Based on today’s positive update and trading volumes, expecting a strong finish here to the day.
GLA
Agreed, and for me, time to top up here, and all the best.