Member Info for easyp

I have balanced the risk, this share has made me a return of 183% with more to come.
More importantly, CRS the people who run Crystal Amber Fund who own 28.9% are not selling either.
When CRS sell then I will.....north of 14p.

Of course it will stop rising, investors will take profits, price of oil will settle back etc.
Bare in mind Crystal Amber Fund CRS owns 28.9% of HUR and they will not sell until in the blue which suggests north of 14p. They also believe the P6 well good until 2025 so go figure?
If the well turns out 8,000 bopd on average for 2022 sold at $80 a barrel then HUR is a debt free cash machine and buying at sub 14p still looks cheap to me.

Sooner than expected but hold your shares and make them all pay dearly for the past two years.

This is not just about money I want revenge on the shorters and management trash who tried to steal the company from it's investors both large and small.

Sympathies Pedro, the market seems underwhelmed by the news. I am willing to hold for a few more months in the hope of a sig deal and sp spike.

Big News imo. How many cruise ships at sea today and what is there annual turnover in onboard sales etc?
Assets worth protecting from embarrassing hacks?

I would hope to finish the week close to 20p a share on the basis of this RNS.

Cautiously positive YES!
9,600 bopd, debt free within months and trading at 5p a share?
Water cut issues yes.
Might it be worth drilling another well?

What does the Accountants Punkhawhallah have to say?
They always know whats going on.
https://www.youtube.com/watch?v=ViND0QzeGBQ

No, it is a fair criticism but there is a counter argument that buying up such acreages when cheap is a good long term bet.
https://www.telegraph.co.uk/finance/newsbysector/industry/mining/10748253/Evy-Hambro-urges-miners-to-resist-temptation-to-splurge.html
Not surprised by the sp spike, I see OMI as a long haul gold/silver/copper punt.

"the Fund will not make any new investments and will only make further opportunistic investments in existing holdings where, in the view of the Board and Investment Manager, such investment is considered necessary to protect the interests of Shareholders and/or provide the Investment Manager with additional influence to maximise value and facilitate and accelerate an exit."

Interesting for HUR.....does not preclude them buying more and then selling us on to a bidder. Clearly CRS want a return on HUR and as discussed prev that suggests north of 14p.

As a result of the continuation vote not being passed, the Board believes that it is in the interests of Shareholders as a whole for the Fund to adopt a strategy of maximising capital returned to Shareholders by way of timely disposals, including trade sales of the Fund's strategic holdings, where appropriate. Such change of strategy is subject to Shareholder approval at the Extraordinary General Meeting.



The Fund has accumulated several strategic holdings: since 2013, the Fund has been a shareholder in Hurricane Energy plc (it currently has a 28.9 per cent. holding); since 2016, it has been a shareholder in Equals Group plc (it currently has a 13 per cent. holding); since 2017, it has been a shareholder in Allied Minds plc (it currently has an 18.2 per cent. holding); since 2018, it has been a shareholder in De La Rue plc (it currently has a 10 per cent. holding) and it has been a shareholder in Sutton Harbour plc for more than a decade (it currently has a 10.8 per cent. holding). Given the substantial progress achieved by the Fund with its activist strategy to date on these holdings, the Fund expects to have realised these investments by 31 December 2023. Within this timescale, the Fund also anticipates selling its holding in Board Intelligence plc, an unquoted company in which it has been a shareholder since 2018.



The Fund has a track record of returning cash to Shareholders via share buybacks and dividends: since 2013, when the requirement for the continuation vote to be proposed at the 2021 AGM was introduced, £60 million has been returned to Shareholders via such means. The Fund intends to return all net proceeds from its holdings in Hurricane Energy plc, Allied Minds plc, Equals Group plc, De La Rue plc, Sutton Harbour plc and Board Intelligence plc, after providing for ongoing operational costs as necessary. The Fund previously announced, based on the Investment Manager's assessment of the status and timing of anticipated corporate transactions, that it is targeting additional shareholder returns of at least £40 million or 50 pence per Share before 30 June 2022. The payment of the 10p a share dividend to Shareholders on 9 February 2022, representing a gross return of £8.3 million, was the first shareholder return towards achieving that target. Whilst the Fund is confident that this is achievable, after consulting with several Shareholders, it is no longer considered to be in the interests of the Fund to impose a fixed deadline but will be keeping it as a target.



Subject to Shareholder approval of the change of strategy, the Fund will not make any new investments and will only make further opportunistic investments in existing holdings where, in the view of the Board and Investment Manager, such investment is considered necessary to protect the interests of Shareholders and/or provide the Investment Manager with additional influence to maximise value and facilitate and accelerate an exit.

"As a result of the continuation vote not being passed, the Board believes that it is in the interests of Shareholders as a whole for the Fund to adopt a strategy of maximising capital returned to Shareholders by way of timely disposals, including trade sales of the Fund's strategic holdings, where appropriate. Such change of strategy is subject to Shareholder approval at the Extraordinary General Meeting.



The Fund has accumulated several strategic holdings: since 2013, the Fund has been a shareholder in Hurricane Energy plc (it currently has a 28.9 per cent. holding); since 2016, it has been a shareholder in Equals Group plc (it currently has a 13 per cent. holding); since 2017, it has been a shareholder in Allied Minds plc (it currently has an 18.2 per cent. holding); since 2018, it has been a shareholder in De La Rue plc (it currently has a 10 per cent. holding) and it has been a shareholder in Sutton Harbour plc for more than a decade (it currently has a 10.8 per cent. holding). Given the substantial progress achieved by the Fund with its activist strategy to date on these holdings, the Fund expects to have realised these investments by 31 December 2023. Within this timescale, the Fund also anticipates selling its holding in Board Intelligence plc, an unquoted company in which it has been a shareholder since 2018.



The Fund has a track record of returning cash to Shareholders via share buybacks and dividends: since 2013, when the requirement for the continuation vote to be proposed at the 2021 AGM was introduced, £60 million has been returned to Shareholders via such means. The Fund intends to return all net proceeds from its holdings in Hurricane Energy plc, Allied Minds plc, Equals Group plc, De La Rue plc, Sutton Harbour plc and Board Intelligence plc, after providing for ongoing operational costs as necessary. The Fund previously announced, based on the Investment Manager's assessment of the status and timing of anticipated corporate transactions, that it is targeting additional shareholder returns of at least £40 million or 50 pence per Share before 30 June 2022. The payment of the 10p a share dividend to Shareholders on 9 February 2022, representing a gross return of £8.3 million, was the first shareholder return towards achieving that target. Whilst the Fund is confident that this is achievable, after consulting with several Shareholders, it is no longer considered to be in the interests of the Fund to impose a fixed deadline but will be keeping it as a target.



Subject to Shareholder approval of the change of strategy, the Fund will not make any new investments and will only make further opportunistic investments in existing holdings where, in the view of the Board and Investment Manager, such investment is considered necessary to protect the interests of Shareholders and/or provide the Investment Manager with additional influence to maximise value and facilitate and accelerate an exit."

Yep, agree with your sentiment that OMI becoming a very attractive buy and hold with some great acreage and gold price starting to climb. Years not months but still a good time to be buying in.

A good point SoB!
I was fortunate with HUR trading it when the sp had dropped to around 14p then stop lossed and re entered on the way up past 3p so my journey a roller coaster but I am in the blue despite earlier losses.
PMG an interesting company with a CEO & major shareholder who had a great track record with DANA. Not sure it is really my thing but still invested as much on a hunch and FOMO as anything!. This board also has some intelligent posters on oil and gas so I read with interest.

Here we are still floating around way below the investment radar in the UK but what a great little oil producer.

SoB oil might be going to $120 but the PMG sp stuck at 40p which is disappointing for those of us here when it was 60p plus. I know patience etc but this is wearing a bit thin. Especially annoying when my other holdings in HUR and CNE doing so well. PMG is trailing badly in my oil and gas punts but this is a new week, an invasion imminent (not), oil prices high and the weather cold.

Good point, which up until recently I would have agreed with but with oil approaching $100 I am tempted to stay. CNE could use their cash to hoover up some small but productive oil & gas producers including PMG, HUR etc. No doubt we all have a different view on what CNE might buy with any spare cash.

Hurricane Energy is or was a small player exploring for oil in what had been a previously ignored geology. We are now a small producer with a modest well pumping 9,000 bopd from the same geology. As has been discussed below HUR needs a review of its reservoir including a judgement on how much more oil is recoverable.
Larger investment funds have avoided oil & gas for ESG reasons the smaller funds will back HUR by investing once the questions are answered. Patience game, not something I am good at.

Somebody other than me and a bunch of BB posters believes CIZ is worth 4p a share or more!.
Very good news imo as it confirms our hopes that CIZ has a great product which will fly.

Happy Mondays......https://www.youtube.com/watch?v=mFBQ0PH5rM4
Tenuous link but the RNS cheered me up.