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"If we can't get drilling permission how can anyone else?"
Bigger players = bigger clout/powers of persuasion is one scenario, another is the 'players' change ie different people at the OGA or whatever its called now have different buttons to be pressed by different people. If there's commercial oil there, someone will find a way to get at it eventually.
"What am I missing here".
Bigger players can afford to let Lancaster et al tick over on one well and just add it to their 'land bank' for future developement. Not going to cost them anything after the initial purchase
Think you're getting mixed up with Phil Corbett who was head of HUR Investor Relations, now at Jadestone? And it wasn't sense but someone else who'd been lied to by PC. Happy to be corrected as the memory is not what it use to be.
"1m sell at 7.85p timed t 9.02am"
Eh? shows as 500k sell on my screen (if it was a sell and not a buy)
"They probably don't get into work until 9 "
I think you're being a tad optimistic with a 9oc start. An early start is always difficult when you've been use to a lie in most days. Looking after 1 well doesn't take too much effort from the onshore staff ;-)
There has to be a reason CA are desperate to get rid of them all of a sudden, doesn't there?
No as I don't think this is a 'sudden' movement by CA. I think they always wanted rid but replacements take time to scare up and agree T&C's etc
From Crystal Ambers Monthly Net Asset Value 26/10/21.
“The Fund also notes the potential for shareholders to benefit from Hurricane's taxation position. At 31 December 2020, Hurricane had ring-fenced trading losses of $468.7 million and supplementary charge losses and investment allowances of $707.8 million. In addition, capital allowance pools of $383.5 million were available to be used against ring-fenced trading profits. The Fund has asked Hurricane to assess the financial implications of these tax losses and allowances in the event of a corporate transaction. The Fund believes that the quantum may be very substantial.”
I'm still struggling to understand why CA back in the day think there's something 'substantial' with HUR's tax position yet latest commentary on this board is thinking only 3-5p a share. CA obviously asked HUR at the time, does anyone know if they ever got a reply as I don't remember seeing one.
Yep I think most LTHs would prefer the 'dividend' route. Other than putting me out of my misery, 12-15p doesn't really get my juices flowing
Agree with you sense. whilst I'd like a clean break, having looked at the 'dividend route', I can live with that for a few years ( with all the caveats re well 6). I know I'd hate to see someone make a 'go' of this company, if it could be made to 'go' and I'm out of it.
Nice precis of events Sense, the only thing I could see missing was that the BOD were trying to use the emergency covid company laws by going to court when they did, if those had'nt been around it could never have been tried. Happy to be corrected.
"HUR have to raise £250m ($300M)!!!!"
Perhaps Buckingham is going to fund some or all his self. After all he's not short of a bob or two after selling his company for 1.4 billion
"True..!! What was I thinking?!:)"
To caught up in the moment lol
"I’m sure the games and shenanigans will become clear for once..!"
I'm not so sure about that Dickbat. This is the Oil and Gas industry after all, where the big bucks encourage even more smoke and bigger mirrors lol
"...as I can see two different camps vying for the shareholder vote building"
Actually it's probable more than two. It's those Oil Companies that are going the HUR BOD 'rush route'. At least Co A and Co B and maybe Co C, D ... against the Albion/CA route. AND, Co A and Co B are against each other as well as any other bidding company. Plenty of twists and turns left in this .
"…I don’t trust the board to act in our best interest so I will question it"
That's you and me both.
'Our' saving grace is CA's 29% vote. If the BOD were trying to 'rush' a sale through before any General Meeting it still needs to go to a shareholder vote. Sooner or later and I think it'll be sooner, someone in the know will need to stick their head above the parapet and say what they think the Company is worth, as I can see two different camps vying for the shareholder vote building.
"Yes..!!! Obviously..!! The point is this date has only come to light due to the CIA action!"
Probably, for all we know, there was a quick called board meeting this morning where they conjured up the 7th Jan. If the date was dreamed up this morning it will certainly going to get some boys in the bidding companies sharpening their pencils over the Christmas /New year period.
I guess this is still going to have more twists and turns than a black mogul ski run but it's nice to know someone other than CA has looked into the data room and thought, "mmmm there's a bit of life in this".
I do wonder how this came about. Presumably Albion looked into the data room, liked what they saw but either could'nt afford it or put in a bid (maybe the unsolicited 7.7p) thats been rejected and have found another way, by approaching CA, to get into the action. Doubt we'll ever find out but certainly put the cat amongst the pigeons and all over the Christmas period (which I think is also significant)
" you know there’s a certain part of me which I feel guilty about….that our board of traitors will have the time over Christmas to feel anxious and worried and maybe scared at the thought of providing for there family’s… and you know what I don’t feel guilty with the stress and anxiety and big money lots of us have lost due to their incompetence and lack of skin in the game….!!"
I had exactly the same thoughts! But I was grinning also ;-)))
"I have shares but was talking about buying more. I did find the message a bit premature. Has anyone else had a similar message?"
FWIW I'm with ii and just had a look at my account. Nothing there like your message
FWIW Sense, I did a similar *** packet exercise yesterday just taking the BOD at their word of $70m on Q1 23 and $110 aggregate spread late 23 and 2024.
So $180m returned to SH by Dec 24 and allowing for 10 offloads at £25m a pop I made HUR with £200m still in the bank which worked out at 11.5p a share.
Obviously well 6 needs to keep chugging away, but that’s a pretty conservative figure if you think that they might be able to squeeze another offload in over that 2 year period and oil is not going to rise above $95. Won’t get me back my losses but no too shabby either.