The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Spot on Slift. At this point I expect most of the oil and gas in place on HUR acreage will be staying down there in perpetuity.
Yes but........ Will I ever get my 30p back? I doubt it.
I think our friend here Proselenes must be a barrel of fun and laughter down the pub?
I hope so, a decent enough RNS.
This has AMER written all over it. But AMER didn't have the problems that HUR has. I managed to break even on AMER. Here, I'm 24p a share under water. I am not on my own either.
Assuming that HUR remains a listed company. By no means a certainty.
The ghost of Amerisur Resources sits in my memory. Sold down the river as per so many AIM oilers fate. I very luckily got out even there. And Amerisur did not have the baggage that taints HUR. I really want to be wrong but I fear a huge haircut for thousands of little guys, me included, lies ahead. I've already decided this is the very last AIM oiler for me. No more. I believed the fairy tale and lost. It seems.
I seriously doubt Warwick will ever produce commercially now. I can't see anyone having the appetite to drill there. HUR may as well relinquish the licence on it. If there's oil there, it's going to stay there in perpetuity now.
The biggest danger here to LTHs like me, is if/when the increased production rate resumes and if/when the water issues are mostly overcome, an opportunist low ball bid takes the entire company out. A 100% premium bid would see us wiped out most likely with a massive haircut.
This has for a long time been a major issue for me. Dr T never engaged in serious discussion about perched v aquifer water. It was a case of you had to believe it because he said so. For a while, I did believe him. But as the water cut got worse and worse I eventually started to lose faith in him. Now he's gone and soon the truth will come out. Dr T wasn't telling us the whole ugly truth. At least that's what I think. The share is priced now for bankruptcy. It may yet come to pass. By the time the next CPR is due we'll already know. I think Dr T's stubborn inability to accept what was happening at his train set has cost many LTHs a lot of money.
Even a 200% premium here would be a disaster for many holders, sadly.
Try any company, exact same response.
Showmethemonet, I'm like you, very deep underwater. I hope you are right and there's a decent future here for us.
Sad fact - This share is going nowhere until HUR conclusively demonstrates the "perched" water theory. The market thinks that the existing wells are going to water out. Until then, the slightest price rally is going to be heavily sold into. Only when weight of buying outweighs that, HUR is going anywhere. Sadly.
They have no money. (Spark Exploration).
For as long as I can remember, the talk has always been of a buyers strike between BP and Shell relating to Hurricane Energy. The strategy seems effective. They may yet pick up the assets for a few p in the £. Given that Shell and BP licences largely surrond HUR's assets it makes great sense for them to starve the little guy into submission. The strategy is working very well. Both Shell and BP can just sit and wait. There'll be no generous farm in dowry to rescue HUR from those guys.
Thank you for your opinion, SouthSeaBreeze, it is of course respected. I know personally that the O&G industry is one of the most unforgiving there is. You're 100% only as good as your last bad job. I hope I am very wrong. The steadily increasing water cut since first oil paints a very gloomy picture. The share price says it all. I should have sold but didn't. My own fault. Back then, at around 30p, I thought a 300p within five years price target was quite possible. So did many others. I hope I can get out at evens but it means a 4 bagger to break even from here. Not impossible but this stock has a long history of every time there's a small price rise it's sold so heavily into, LTHs don't stand a chance.
easyp, sorry, I don't mean to come across as angry at all. I could have sold at 60p. But didn't. My own fault. Again apologies, it's not inteneded that way at all. But I will never again believe in a one man show, no matter how apparently well regarded he may or may not be. Lesson well learned.
Believe what you want to believe. Trice has expressed opinions galore. He has not presented any evidence robust enough to unequivocally dismiss it's aquifer coning. He has never opened himself to any public scrutiny on the subject by outside experts. He gets very tetchy if anyone asks anything remotely challening. He has at least twice released RNSs saying there's nothing wrong and two days later, just about everything is wrong. The price reflects this in spades. If the market believed him we wouldn't be <7p. Trice would still be in place. Instead he's damaged goods. In the O&G industry that's often terminal to a career. Yes, I'm in the O&G industry. I regret believing him.
Yobbo, multi-million dollar question - Why didn't Trice say so and support his case with hard evidence? It's hard to believe him because he hasn't really produced any evidence to show he is right. The market quite obviously doesn't believe him. I did. I don't believe him any more.