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98.4% down.
http://www.tribune242.com/news/2020/nov/20/not-reassured-slightest-oil-drill-ships-watchdog/
Hi Guys
Been absent for a while, this seems to be bubbling along nicely. Came out of Cerp before the merger but the excitement of the old LGO is back. Do you think we will make some money this time. Probably will not go all the way with the drill this time...older and hopefully wiser.
Hope everybody are keeping well and good luck...
Emily
However the uncanny truth is if we had listened to the derampers many would not now be sitting on a loss.
SNAP :-)
Why dont the institutions give us a more positive heads up what their intentions are if this goes to a no vote
Having the desired effect...a few more jumping ship
It’s turning up the heat so that whoever’s left vote yes or sells beforehand...psychological torture compounded on my existing loss
So that’s it then...kick into touch
So they get nothing in a prepack deal.
They vote yes as it’s not their money to vote no with.
So if it’s a no vote surely they will step in before the lights go out to safeguard their customers.
If Aal get this in a prepack deal to the institutions get nothing
Hi Fred
Voted no... as i have a gut feeling if indeed it goes that way we will get some sort of bridging loan from the institutional investors. I pass the Sirius car park in Whitby everyday and it seems strange that it’s full everyday and then we are told the company may fold on the 4th March ...3weeks ish and still a full car park...logically it should be practically empty. A lot of Pi have sold and remember cf doesn’t like pi.
So we can assume that a lot of pi will leave it to the death and sell a couple of days before the vote
Surely if anything other than the existing offer is to come forward the window to put forward anything else is before the vote.
Is there a minimum number of shares you need to hold to obtain a vote
Proactive investors don’t help
the market today, with a share price of around 22.68p, Hurricane is worth around to £450mln.
That would appear a handsome valuation for Hurricane merely as a ‘producer’, at least compared to some of the UK’s larger more established peers. So, let’s put that in context.
Market value out of sync with other UK producers
Wednesday’s Q3 trading update showed Hurricane’s production rate “ahead of guidance” at 11,800 bopd.
Hurricane is therefore valued at a premium to EnQuest Plc (LON:ENQ) – at 24.65p per share its worth around £420mln - which produces close to 70,000 boepd and generates over US$1.6bn of annual revenue.
After that, comes Tullow Oil PLC (LON:TLW) – at 52.32p is worth £735mln – which even amidst its current existential crisis and change of management still produced over 86,000 boepd last year to generate around US$1.7bn of revenue.
Premier Oil PLC (LON:PMO) – at 106.30, worth just shy of £900mln - is similarly dealing with its own corporate matters in an attempt to close a major North Sea acquisition, but it still produced some 85,000 boepd in 2019 and September’s interim results showed it generated US$871mln in first-half revenue. (Premier’s latest acquisitions should eventually see it produce over 100,000 bopd and generate in excess of US$1bn of free cash flow).
Then there’s Cairn Energy (LON:CNE) which is something of an anomaly – at 173p its worth just over £1bn – though only because it, eventually, hopes to receive a US$1.4bn settlement from long-running arbitration in India. Allowing a discount for risk, you could possibly make a case that Cairn’s current 23,000 boepd of annual production factors only slightly in the market’s valuation.
Now, nobody is suggesting that any of the above is a deep like-for-like peer analysis, but it does quite quickly show that if viewed solely as an oil producer, Hurricane is punching way outside its weight class.
Living next to Lockwood Beck on the 3rd December 2019 Matt Parsons External Affairs Manager wrote a project letter update which had limited circulation in the Lockwood area. Highlighting the revised funding to as we know an initial package of us$600 million then I quote
“this will enable us to explore a wider and cheaper range of debt financing options for the remaining us$2.5 billion required to construct the project infrastructure needed to deliver full production. Since Septembers announcement we have been working hard to explore financing options with a focus on the initial capital requirement of us$600 million. We are seeking to fund this either through a structured debt financing package or with a strategic investor. There are currently a number of interested parties undertaking due diligence on the Project in relation to this”
Nothing about a complete sell out.... I’m assuming rightly or wrongly they did not fully anticipate this offer and there are still other irons in fire....I hope.
“Drill cost probably increased”
Horse ****...
You must have a problem understanding what “continuing as planned” means...
Lk is making sure this hole is right because all subsequent drilling operations will be based on this first hole.
Once the different pressure formations are safely dealt with the true well drilling begins towards the target depth and reservoir....seems textbook drilling to me
In4c Im assuming that last paragraph should read buying not selling:-))