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I wouldn’t say it was great as we are only half way. I think the market was underwhelmed. The mm’s clearly got it wrong when they hiked the sp up to £3.50 on open and what happened? All the traders gave it a thumb’s down and the price fell to £2.43 before recovering.
The main positive is the de-risking, as pointed out by dickupham. The prospect of seeing my investment melt away to nothing has been a serious concern whereas now I am much more comfortable holding, and may add.
I think it is safe to assume that NEO have bought in with the intention of proceeding with development as soon as possible, rather than leaving it on the shelf. The option granted to NEO to increase its 50% is worth noting. Did NEO press for this in case JOG fails to find another farminee? It will leave JOG with 12.5%, significantly less than the 20-25% they are hoping to retain. How will this value JOG’s retained share?
Hi,
Bought my first holding on 13 Feb 2017 at £1.70. Have since added and my only sale was to transfer into my ISA.
MPO818
This board has been visited by a swarm of traders attracted to JOG’s rapid rise like flies to a turd. I really doubt that any of them will have bothered with the rants of one particular poster. Read my post last Friday 16.31.
Very apposite.
Some people seem to have changed their tune from yesterday.
This uncertainty over retention of the DCU,s within ISA’s and SIPP’s is just another indicator of the attitude of HUR management and their total disregard of the interests of private investors.
Read the DCU deed poll page 11:
“6.1.7 The Company shall use all reasonable endeavours to put in place a Matched Bargain Facility which will be available to DCU Holders with effect from the Effective Date.”
Which implies that trading of the DCU’s will be possible.
But later on page 14 we have this:
“4. DEALINGS
4.1 No application has been or will be made to any recognised investment exchange (as construed in accordance with section 285 of the Financial Services and Markets Act 2000) for the DCUs to be listed or dealt in on any stock exchange.
4.2 The DCUs have not been and will not be listed on any stock exchange and no regulatory clearances in respect of the DCUs have been, or will be, applied for in any jurisdiction.
4.3 Accordingly, unless an exemption under relevant securities laws is available, the DCUs have not been and may not be offered, sold, resold, delivered or distributed (directly or indirectly) in, into or from any Restricted Jurisdiction or to, or for the account or benefit of, any Restricted Overseas Person.”
The question is will the Matched Bargain Facility be enough for HMRC to treat the DCU’s as a listed security. Paragraph 4.2 (will not be listed on any stock exchange ) suggests not but it is not a question the providers can answer. If HUR had any regard for private investors they would consult with HMRC and get a definitive answer.
The question to ask is why HUR have felt the need to put out this Q & A.
They will be very aware of the views expressed on this and other boards.
Are they getting nervous?
I do not often post on this board partly because I do not want to say anything that might be interpreted in a negative way. For those who continue to hold in expectation of deal why say anything that undermines the share price?
Tempers seem to be fraying which is perhaps understandable, but there used to be civility on this board and it would be a shame if it descends into a bickering match.
Kooba
No one has a moral obligation to RB.
Yes he saved the day for PI's with the bond scam but he did this solely for the benefit of CRS. Anyone you thinks he was motivated to help PI's is deluded.
I am still considering this deal and the problem I see is that if it is voted down we are still stuck with a useless management.
Yes. Once delisted the HUR chat page will cease to exist. By all means check with LSE if you wish but I guarantee my answer will be confirmed.
There is a Hurricane Energy group on facebook.
Kever
What happened to the 14p offer?
Prax are a very shady company and not one to be trusted.
https://www.thetimes.co.uk/article/the-quiet-couple-from-weybridge-behind-1-7bn-prax-petroleum-c3dhjq9b3
Looks like the 14p bid has lost some of its puff.
Senseman
I was I little concerned at the sensitivity of using the circumstances of Adoubleuk’s death in an argument with the member since 18/04/22. That is not to say I disagree with you about the nature of said member. However, there are a couple of points I feel compelled to mention.
First I was informed privately by someone who knew Andy personally and the information I was given regarding his suicide does not accord with you description.
Second, he did post to say he had filtered bartlebobton , who I assume to be member you say was trolling him. As to whether bartlebobton’s trolling was a contributory factor I couldn’t say. It happened when France was under lockdown. Andy was living alone in isolation unable to get out and do the things he enjoyed. With the benefit of hindsight there were clues in on the odd comments he made from time to time.
As for bartlebobton he last posted on 22/12/21 and unlike Andy is not sadly missed. He is still listed as a member but why did he stopped posting? Personally I was pleased he stopped but there was one of his posts which might hold a clue:
bartlebobton
Posted in: HUR
Posts: 1,989
Price: 2.30
No Opinion
RE: THE DARKEST HOUR COMES JUST BEFORE DAWN (THE MAMAS & THE PAPAS)18 Aug 2021 09:29
Is there some statistic that more people commit suicide in the wee small hours, than at any other time of day....
On a more serious note + it's a fact; The leading cause of death in men under 50 in the UK, claiming more lives than car accidents, heart disease or cancer. If it were a new disease, suicide would surely prompt a national emergency.
Another fact;
84 men commit suicide, on average, each week in the UK.
A sobering sculpture ...a powerful statement, art at it's best, (that's just a thought, so it might not be true)
https://edition.cnn.com/2018/03/26/world/london-sculptures-project-84-suicide-trnd/index.html
mariog
You may be right .
I was going by HUR's website.
Mariog
They have expressed an intention to relinquish but if you check “Assets” on the Company website they are still including Halifax (P2308)
https://www.hurricaneenergy.com/assets.
It would be criminal to give up the licence while the sale process is still ongoing.
mariog
That is wishful thinking.
The 7.7p offer was made before the Company announced a possible cash return. You can be fairly certain that anyone bidding for HUR will want to retain the cash. Otherwise the bid would be 4.6p
Porscha1946
You sound like you hold a grudge.
Admiral have served me well over the years and I'm £500 up on my purchase this morning.
fandg2
It was RPS.
https://www.hurricaneenergy.com/assets/reserves-and-resources
Current management will not commission a new CPR. They have no intention of developing the assets so it would be pointless. There will only be a new CPR if the we have new management and they decide to raise funds.
NS Tiger
I agree with you that CA are not “friends” and Bernstein will do what he considers to be in the best interests of his fund regardless of how that impacts other shareholders. If an offer is on the table which he is prepared to accept it may suit some shareholders and not others. All we know is there has been an offer of 7.7p and there are apparently a number of interested parties. We do not know what Bernstein is prepared to accept but given that he put the EGM call on hold suggests he is aware of the possibility of an offer which he thinks could be acceptable. The question is therefore what offer or offers have been made: 8p, 9p, 10p, 11p or even by some miracle 12p and what does Bernstein consider acceptable. Personally I doubt there will be anything in double figures and will this be enough to satisfy Bernstein? Maybe, maybe not, but we don’t know, and if he doesn’t get what he wants I see no reason why CA will not come back with its EGM call and resolutions. So you can’t write off the possibility that HUR could have new management. Keeping Maris only suits him for so long as there remains the possibility of an acceptable offer on the table.