Member Info for DYOR2

I agree it would be good for us if the geo and drilling goes well. First we need our BOD to pull it together.

It would also mean any offer will need to be soon if the buyer wants a bargain. The end of the year offer would have to 20 plus but I think a 15-17 offer table now would probably be excepted.

Interesting times on what Hur Bod do or not do, they have so far been successful at keeping the sp low, nothing else.

I am still hoping for a fwp soon, which could be transformational in many ways.

I intend to.

I think I recall the max operating capacity is 610kb so they have a few days to fix the transfer equipment, if not they maybe able to ‘Jerry rig’ something and offload a few 100kb to buy time and maintain production.

They will fix it, don’t worry.

Simple

When HUR SP hits 25p you won’t have to about paying for the 2 litres to mow your lawn.

I think the next offload should be on 21st and be worth around 55mil, about 40 mil fcf.

0161

Drill or No Drill.. I will take 25p any day.

I think the “dream” although plausible would be much higher risk than developing our fields to realise greater value, our 1 well could encounter problems that could greatly reduce any accumulated fcf. We have proven Lincoln and can bring it online with long lead items already purchased. A drill targeting our sandstone would also be interesting plus a work over of some description on 7z would realise more upside in company value if successful. The COS of 1 or all 3 being successful would make CAs return significant.

Sitting back and doing nothing is risky IMO.

BOD, do your job and deliver a fwp and share holder value!

I certainly hope 25p is happening this year, but in the absence of a fwp or clear direction it’s difficult to see this happening.

The BOD are not communicating enough regarding a FWP and without that we have no future plans.

X

Our CEO needs replacing ASAP, he is doing nothing to promote our Company and potential. We have the funds and revenue to expand and develop our acerage, we now need to hear the plan. Paying off the CBs was forgon conclusion since Nov 2021 with predicted revenue and POO.

CA must be pushing behind the scenes for some action and the value of that action to filter through to our much surpressed SP.

The Company have not given any updates on their engagement with the OGA who must be more sympathetic and flexible than any previous time. We have the funds availible this summer/autumn for a drill, so lets hear the FWP.

Sense

That is understanding and hope.

Warren

The Oil and Gas sectors is a very mixed bag of Companies some have been hammered by Covid and yet to really feel the benefits of higher POO and also release this in their annual accounts. Hence why PE's are all over the place at the moment. Hur 'was' in problems however we are heading into a much better finacial situation which will take till our annual accounts are publichsed to alter our PE as per other Companies.

The risk remaining is mainly in our one producing well, although this should be rectified in the future as a FWP is established that is a significant factor in our SP. We also need a new CPR, CEO/CFO change and better market communication to really raise the SP. The RNS yesturday was exactly what was required and hopefully a turning piont.

I hope that has gone some ways into answering your question.
Last time I looked at comparisons I thought a PE of 6 was appropriate but with Oil and Gas Companies if often a case of comparing apples and pears due to so many factors relating to geographic risk and production issues etc.

Hopefully when our CEO and CFO depart a new CPR will be commission that has some credibility and accepted by the SH's.
I too think the CPR3 should be somewhere between the CPR1 and 2.

The funds to clear the BH's where predictable for several months so lets hope our management have a FWP developed and ready to go, there is still time this year if contracts and approvals are sought ASAP.

It dose sappear that there is more to follow in a FWP or some other business activity, either way it does look like something is being planned to minimise our risk on operating one well.

All looking good and the future is getting brighter.

Absolutely they have to go sooner the better. I am hoping for an early AGM, which should see their departure, last year it was held at the last opportunity to meet the annual requirement.

BP's FPSO is not structully sound and is being removed, there is still some oil to be extracted from their field.

I wondered how the business case adds up for hooking up to our FPSO?

I hope our CEO/CFO are looking at it.

This is why we need a new and proper CEO who has a strategic plan for our Company, many posters have a better plan than anything we have seen from our CEO over the last 18 months.

By early Aug we could have circa $90 mil fcf.

Our CEO needs to leave so we can grow as a Company, negative RNS’s which are misleading at best are not what he is supposed to be doing for his £500k salary.