Member Info for DiveCentre

CHELMOCHASE

"the market can’t ignore this stock forever at some point it will wake up and price it correctly"

The market will continue to ignore this company until such time as there is a conclusion to the farmout process.

When the RNS drops the sp will move. In the meantime it will drift with sentiment.

A reminder to all members. This board is about HUR, and NOT where to invest your recent cash payment.

Should have been paid at the same time unless Prax have welched on the deal.

"The matched bargian (sic) trading will start at 0.5/1p as that is all the DCU's are worth currently."

Prior to delisting HUR shares were trading at around 7.7p, a premium of 1.68p over the promised cash return. Logic would suggest that the market was therefore valuing the DCU's at 1.68p. Why would a DCU holder now be prepared to sell at 0.5p or even 1p when 2 weeks ago they could have got 1.68p.

But then again there is Kever logic.

NS Tiger

What do you think Prax will do with Lancaster, just keep P6 flowing until it becomes uneconomic or drill another well and find a gas solution. Personally I think they will drill but interested to have your opinion.

Broomtree

Are you not aware that Kever has a priority service whereby he gets paid in advance of the plebs.

Or might it be that not every thing he says is truthful.

Broomtree

IWeb are operated by Halifax share dealing and they have informed clients that the DCU’s cannot be retained within an ISA package, to quote their advice:

“As the New DCU's will not be listed on any Recognised Exchange as defined by HMRC for ISA qualifying purposes. Your New DCU's will not be eligible to be held in an ISA. Should you hold your Hurricane shares within an ISA, we will transfer your New DCU's to your Share Dealing Account should the Scheme become effective.”

Chaffe said they had asked HMRC for a ruling however nothing further was said so we have no idea if HMRC have replied yet or not.

I imagine HSD have issued their advice based on their knowledge of ISA regulations so I’m not sure if is a definite, but I’m inclined to believe they cannot be retained.

HSD also told me in a telephone call that they do not have the systems to use a matched bargain facility so you are locked in unless you go through the hassle of transferring to another provider.

Sharvey44

If you read back through his posts you will realize he is fantasist and a liar. Ask him about the 14p offer.

I see Prax have wasted no time in taking down the Hurricane Energy website.

NMBS

Will there be a public record of trades, because if not their will be no public knowledge of their true value.

Broomtree

Creation of the matched bargain facility has no bearing on future DCU payments. They could still pay nothing. HUR management have always used the risk of P6 failing to support their scam schemes, so if P6 fails next week how much will you get? Of course P6 may continue to produce for another two years or more in which case shareholders will be deprived of the true value.

As regards the matched bargain facility holders of DCU's need to check with their provider if they have arrangements to trade using the facility. I have been told by my provider they don't.

Broomtree

You can take whatever you like.

Kever

"So a 12.5p return on a 7.7p purchase is a 62% profit over the next 3 years"

You can't even do basic arithmetic.

Given the promised pay out the net investment on a 7.7p purchase will be 1.68p and IF (bye the way that's a big IF) Prax do pay out the full 6.48p the profit will be 386%. It could also be a 100% loss.

Broomtree

Once HUR is delisted Prax will be in total control. Prax is a private company accountably only to its shareholders. They are not going to give DCU holders any more than they have promised. It could be 6.4p or it could be nothing.

Prax or their agent will hold the DCU register They have promised to put in place a matched bargain facility but this has yet to be confirmed. Will Prax publish DCU trading prices? If not how will DCU holders know their value and bear in mind that if a DCU holder dies the executor will need to obtain a valuation for probate

And most importantly what mechanisms are there for DCU holders to hold Prax to account? It is reasonable to suspect that CRS and Kerogen have a private arrangement to dispose of their DCU’s well before 2026 given their support for the scheme and once they are gone Prax will be the masters and free to run roughshod over the remaining private investors.

"If the DCU payments are complete they will receive a further £4,035,599"

It's a very big IF and as you say nothing is guaranteed. They could get nothing and suffer a big loss.

Prax is not in business for benefit HUR shareholders and the mechanisms to hold then to account are very flimsy.

Kever

You are not loathed because you voted for the deal. The deal may suit you and I respect your decision. The reason you are loathed, if that the right word is because you lack credibility and post false information, eg claims of a 14p offer. Therefore whilst I have respect for your decision I have no respect for you as a person.

You might also respect the fact that many members regard this as a bad deal.

Broomtree

HMG make the law and as regards taxation HMRC interpret the regulations. You can believe what you like but HL are not the arbiters. HUR have asked HMRC for a ruling on both SIPP’s and ISA’s. They did not ask Hargreaves Lansdowne who you seem to regard as the ultimate authority.

My provider have advised, and I stress advised that the DCU’s will not be permitted to remain in ISA’s but for SIPP’s they said they may be allowed but cannot confirm this as a definite. But this is advice based on the interpretation of the rules by my provider and I await a ruling by HMRC

Please do not continue to spout the ADVICE from Hargreaves Lansdowne as the gospel truth.

Picsmaister

If Kever declares that black is white then it must be true.

Broomtree

It does not matter what Hargreaves Lansdowne say. The ultimate arbiters are HMRC.HUR have said they have asked HMRC for a ruling on both ISA’s and SIPP’s and this is still awaited. We have no idea when HMRC will provide a response

Whereas with ISA’s the DCU’s can apparently be transferred out to a normal dealing account the situation with SIPP’s is somewhat different. Removing the DCU’s from a SIPP will constitute a withdrawal subject to income taxation and that will necessitate a valuation of the DCU’s at the time of withdrawal.

My provider is saying the DCU’s will not be able to remain in my ISA and will be transferred out and into my normal trading account. I await a ruling from HMRC but there is no certainty as to when this will come. If they do have to be transferred out they will become a new investment and as such a base value will be required for CGT purposes. How will that base value be determined as the CDU’s will not be listed?

I also asked my provider about my SIPP holding and this is uncertain. They said the regulations for SIPP’s are not the same as ISA’s so it may be possible they can be kept. But if the DCU’s cannot be held in SIPP’s they will either have to be sold, subject to the matched trading facility being set up in time, or paid out. Removing or paying out the DCU’s will constitute a payment taxable at income tax rates so once again a valuation will be required.

The deal is a complete mess and full of uncertainties and shows the boards contempt and total lack of concern for private investors.