Member Info for DiveCentre

bartlebobton
".....and all that sort of jingoism, is really going to help the situation ?"
Do you have any suggestions to help the situation,
and more to the point do you have anything to say which might help HUR's situation?

You could argue the Russians triggered the war by rebuffing the Saudis call for 1.5B cuts. The Saudis made the mistake of making public their desire for 1.5B after initially calling for 1B. They should have cleared it with the Russians first to avoid being made fools of, or maybe they did and the Russians then did the dirty on them. Wasn't it the Russians who said they wanted to kill off US shale? I imagine the Russians did not anticipate the Saudi response assuming they would still cut or at least maintain (then) current production levels. In any event the demand collapse far exceeds what the Saudis were calling for so Poo would still be at current levels regardless of whether the decline was gradual or cliff drop. Maybe DT should think about targeting the Kremlin, or what about Beijing for creating the primary cause of the demand collapse.

ColonelDrake

There are certain posters who have an agenda to talk down the sp. This may be for investment reasons or it could be they are anti oil. They will always quote the lowest price (be it spot, futures and even WTI) hoping to spread fear.
It is plain as day.
It's a wonder they aren't predicting HUR will be paying BP to take their oil.

Its the difference between the current price and futures.
https://www.investopedia.com/terms/f/futures.asp

MCB55
This is only my opinion but I have always been of the view that the target audience for this CMD was the industry rather than institutional investors. Bare in mind it was planned long before the current crisis and if Brent was still at $60 HUR would be looking ripe for a farm in or take over.

BigMinnow
"Just have to wait for C-19 to go away and oil demand to come back."
Demand will come back before C-19 goes away. The world cannot continue in lockdown for months on end as the economic disaster would far surpass the C-19 disaster. Lockdown will start to be rolled back within weeks and as transport picks up so will oil consumption. Of course there is a massive stock pile to work through but US shale has taken a big hit and arguably will take some time to recover, as least while WTI remains below $50. As demand builds and the stock pile dwindles will the market anticipate a supply shortage?

Rather lack lustre. I had very poor sound which made it a struggle. Anyone else have this problem?
They seem to have pretty detailed data on the perched water which I take as positive despite the increasing water cut.
It also seems that the Lincoln Crestal tie back has not yet been written off. Unfortunate that the CPR will not now be before 2021.

Aduk
I stand corrected.

Aduk

"Stokenchurch M40 extension"

Sorry but I must correct you on this. The original M40 continued well beyond Stokenchurch to its junction with the A418 just after Milton Common. The route north from Milton Common went through Otmoor and was the subject of much controversity.

pchima
If HUR had any nous when negotiating the contract the discount would be proportionate.

Extrader

You may be right, but we don't know what the bond price is. I am aware they rank ahead of the share holders but if the company goes belly up and there's nothing in the bank it make no difference.

I have knowledge that an Ineos director bought a sizable chunk of his Companies bonds following the 2008 crash. Ineos were heavily leveraged at the time and their bonds could be bought at 20% of their par value. Ineos survived and he made a packet. My source was instrumental in the disposal for cash of one of Ineos's assets which arguably saved the company from going bust.

I think it is a fair certainty that the current CB price is below the issue price.

Longwait

Yes the yield would be 20% but the director who bought the Ineos bonds was getting 30%. He also got a five fold return on his capital. Its all about risk.

Joe Soap
"Repurchases of
the bond ahead of maturity could also be considered given the
additional benefit of reducing future coupon requirements."
Thank you that answers my question.

Daltry
If they are tradabled there has to be the opportunity to buy them.
The ordinary shares are currently a third of the price at which they were issued for the fund raise. Since bond prices are said to track the underlying share price it is reasonable to assume that the CB price is also a third of the original issue price. A while ago someone suggested HUR buy back their ordinary shares. I'm not suggesting they do but if HUR decided they could spare some cash buying the CB's would seem to be a more sensible proposition. They could reduce their debt at one third of the redemption cost and save on the interest. Clearly they are not going to buy significant amounts in a hurry as that would move the price, but every little bit helps.

I have asked this question before and got no response.
I assume that the bonds can be traded. If they are they will have a price and that price will be influenced by the ordinary share price so the CB's are likely to be trading at a considerable discount to their original purchase price.
If this assumption is correct what is there to prevent HUR buying CB's in the market place. It does not have to be all but those purchased can be cancelled and there will be less to in interest and less to pay back when redemption is due.

ADUK
The worlds "poorer" nations have never needed to borrow. They get Aid which is not repayable.

"What may be most interesting is how the r.o.w. reacts to China - and how China's 'government' reacts to the damage C19 has caused (in so many ways)."
SG2
It will indeed be extremely interesting to see how the rest of the world reacts to China. Will there be a united pointing of the finger? Will there be a unified demand for reparations? You will be aware the lawsuits have already been filed in the USA. And it's not yet over. If there is no vaccine how much longer will it go on and how much further damage will be inflicted on the world economy. The UN is warning of famine on a biblical scale. The world nations are returning to total self interest creating the potential for a major conflict.
"

If HUR is still around when the bonds become due I very much doubt the sp will still be this side of 40p.

In reply to my enquiry some time ago HUR said the webcast would be after the event. I remember someone posted claiming it was to be broadcast live. Given that it will now be "virtual" I see no reason why is should not be a live webcast . The morning RNS should make it clear. What I want to know is when the industry will get access to the data.

"Orkney is expecting her via Lancaster. "
Well spotted Londoner7

"For instance, this side of the channel, there's serious talk about wearing a facemask compulsory in public"
Somewhat ironic for a country that banned the hijab.