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Got this ‘funny’ feeling that the FSP is going to come to nowt as is CA’s option and ‘we’ end up draining the reservoir, fractured basement and sandstone, all through well 6. The BOD pick up their salaries for looking after ‘the one well’ and the SH’s pick up a 2p dividend twice a year, and this goes on for a good number of years.
Got to wondering how many years that could go on for, anyone any idea?
"or actually receive communications from HUR finance?"
I can't believe they work on their own 'initiative' as they must have 20-30+ dividend, repayments etc a week to manage for their clients. There must be some 'trigger' from HUR
Interesting the term 'wells' is used. Typo or is well 7 being tickled?
"Yes, of course this is all cods wallop but it often lingers in the back of my mind. How about yours?"
Nope not mine. Whilst I'm still expecting to get $h*t on once again, mainly as we have been for the last umpteen years. This time will be different as I at least get a vote on what happens, might not be worth much as CA will be calling the tune but my expectation is that CA want a bit more that 7.7p for their shares
Thing is, they already buy our oil, why do they need to buy the company? Cost benefit between the two is a drop in the ocean to BP
"So what prat cites Brent's $19 a barrel April 2020 historic one day low?"
Gave me an 'ironic' smile when I saw it written, your comment just made me laugh out loud, nice one.
Read a good post late last night from EL19 (who's offshore somewhere), came back this morning for another read and it's gone!. Anyone else see it or was I dreaming?
FWIW I've interactive investor and can't see anything different
If I had such a letter I'd be contacting HUR to find out if it was true.
"and what ever pay rises half a dozen people get in the office is not going to make a great deal of difference to the bottom line!"
I think it would be more than half a dozen but you are right. If 'we' said there were 200 people on the project and they each got a 5k pa pay rise, comes to just £1m extra pa. Drop in the ocean really
Do you actually know that HUR staff have a retention bonus? Can't think why
" total lift cost per barrel will of risen dramatically."
I'm not so sure it will be as dramatic as you allude to. I would expect in the 6 month rolling contract with BW there already be a section with some sort of rising cost of living index to cover 'consumables'. So any increase above that would be needed to be negotiated, so any production cost increase would be the difference between what's already in the contract and whatever extra BW can negotiate out of HUR, isn't it?
"Once again I reiterate: why is everyone in such a rush to sell? At these prices dividends will equal the current share price some time next year."
Yep I'm coming around to that thinking. I was hoping that HUR would be sold this tax year as I need to raise some funds in this tax year. It doesn't look that likely that will happen so might as well hunker down for the long game, take whatever comes my way as a return to shareholder, pray that well 6 keeps doing what it keeps doing best and watch the shareprice drift up with the money in the bank.
I'm also guessing that Kistos shareholders have more faith in their BOD, to look after their interests, than HUR shareholders have in their BOD
Yeah good heads up for people, logged on late yesterday and spent 30 minutes or so just trying to figure it all out. I guess it will be ok in the end, just would like an explanation of why change as atm just seems a change for changes sake.
Cheers Pic for attending and providing summary. Appreciate your efforts thanks
"CA could be happy with the bid value of one of the offers and want to see if that plays out 1st."
Hope not, why should they have that info and not us?
"What I took from the GM vote was that only 29% of eligible shares voted ... so if CA attended the meeting, which I suspect they did then basically, they voted in favour and nobody else voted.
Which seems to indicate that if the BoD grant them their EGM then they just need same degree of apathy from the other three main shareholders to remove Maris etc."
FWIW I took exactly the same, basically us PI's and CA were the only one's to vote. Still trying to get my head around why the 'other' big holders did'nt bother, seems strange it was en mass.
"I suspect it will boil down to how much someone wants to pay for the tax credits!"
Or someone see's the same thing Trice and RPS's saw in the data room ;-)
"What exactly did we learn that wasn't communicated at the end of December?"
Well FWIW, I learnt we’ve got ‘multiple proposals from credible counterparties’, at worst that’s 2, but mores likely 3-4 and we’ve got ‘a number of less defined expressions of interest’ again at worst that 2 but mores likely 3-4.
So I can take out of the RNS that there’s at least 5-6 suitors for HUR which must add a penny or 3 to the ‘true company value’, just from the Company that really wants to beat the rest for HUR. Which is a lot better than one company just trying to beat 7.7p