Member Info for Fred_Bloggs

With ANGS on a bit of a roll and our friends at Horse Hill heading sub 1p soon - Am I the only one who would like ANGS to make a merger/take over there? Sum of the parts etc....

Almost all thwworld's commercially traded hydrogen comes from steam reformers. Steam reformers are fulled by natural gas (mostly methane). So, fuelling your car by hydrogen, it emits only water at the tail pipe/fuel cell. But the carbon is still enitted, probably via fizzy drinks.

For "damaging" read as "opportunity".

@SG2, absolutely correct. That's what I am saying. My day job involves a couple of the world's largest off shore facilities. Risk assessment and management is embedded in every thing the industry does 24x7x365. But we all know, occasionally, we get something wrong and sadly, bad things do happen.

I missed my last exit opportunity at 16p a few weeks back. I'm averaged here @ 12p, I already have an auto sell set for 16p. I'm not missing it this time. 16p by close on Friday eh?

@camdenlad, difficult to choose from the hundreds of possibilities. From a fatality on board during commissioning (the most risky time for any start up) resulting in a prohibition notice from the off shore regulator at number 1 down to a fire in the galley at maybe number 30 meaning the workers have to be evacuated by chopper from the vessel because they can't be fed for a few weeks. That's using my imagination, but kind of demonstrates the endless risks that the E&P business juggles with every single day 24x7x365. My judgment would be that the ESPs are at some risk during commissioning but after a good start up probably are a lower risk than a fire in the galley.

@camdenlad, believe me, in E&P it's all about risks and minmising/managing them. But submersible pumps don't get anywhere near close to making the top ten.

Re - ANGS and UKOG, I have long thought that a single operator is the best way forward for the Weald assets. Slowly, but surely, that seems the direction of travel. Eventually, an ANGS + UKOG merger, I believe. The best result for everyone including the UK.

OTOH - It's never wrong to bank a profit.

Hint - Plenty of stuff to worry about. But the pumps probably don't even make the top ten things to worry about right now.

Just had a Google alert that Wardle has bought a large chunk of stock last week. Is that old news? I thought it should give the shares a shot in the arm. A perennial underperforming share, I'm looking to exit at a half decent price.

When the market opens today we can get back to discussing what's good about HUR. If anyone has a beef with Bernstein, I suggest the best thing to do is to buy shares in Crystal Amber. Then, if he is making money at your expense, at least you'll benefit from it? Myself, I have no view other than I find his previous dirty laundry washing in public was rather distateful and at the time certainly did us HUR investors no favours.

JoeBass, indeed but the 50 per cent part ownership by Spirit makes that a very much more messy transaction. That's a disincentive to close a deal on generous terms.

adoubleuk, there are multiple routes for Centrica to monetise Spirit Energy. At the time of the merger, a full divestment of the business was mentioned as a possibility. Other avenues are venture capital buy in or spin off Centrica's shares to the other owners. Several other possible outcomes too. But the elephant in the room now for Dr Trice is that if a super major comes knocking on the door with a fistfull of dollars, he can't buy Warwick etc... Because a third party owns half of it. Sorry, to me that significantly devalues HUR as a takeover target in my opinion. I was always against the Spirit buy in. I remain highly sceptical. There is another possible outcome though now, for me quite likely. Dr Trice said he doesn't want to be an operating company. Well guess what? I think he might just get another buy in for 50 per cent of the remaining assets. Bid in the next offshore round and find a new programme of exploration on the UKCS. This was never what I thought would happen when I bought into HUR. But I think now it is a very real possibility. I have the utmost respect for Dr Trice. But myself, knowing maybe 1 per cent of what he knows, I would have shown Spirit the door. My two cents.

Further thoughts. Centrica are a basket case company. They are the rump of the old British Gas empire that nobody really wanted. Look what happened to Lattice and BG Group. Snapped up by bigger companies. Centrica is most probably going to have to divest it's Spirit Energy holdings to just survive longer term. Then it will truly be a zombie company with not a single attractive business within the zombie shell. All the value will have been stripped out of it. FWIW, I really believe if Dr Trice had asked existing investors to pony up on a 1:1 or a 1:2 rights issue, he'd be where he is now but still with 100 per cent control. I am sure he considered that, but from where I sit, it looks to me like a strategic mistake to get into bed with a minor industry player instead. Doesn't really matter how you spin it, the present share price supports what I am saying. For certain, I would have ponied up to a rights issue without hesitation to keep 100 per cent control of assets.

adoubleuk, sorry, not while I still work there. You're just going to have to trust me on that.

They're pretty much a nobody. The lack of impact here at Hurricane to their farm in is ample evidence of that. By way of an example, I work for an E&P company none of you will have ever heard of and by most metrics are three times the size of Spirit. If there had been a farm in by one of the majors or super majors, I honestly believe HUR would now be north of 100p.

Just bought a shed load of stock. Encouraging news to me.

Which project is late? Are you on the wrong board here?

I'm already up to my neck in HUR stock, but sub 40p and I might go submerged.