George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
And............. It's a red day.
Well, we're back a smidge below $30 a barrel again this morning. After a couple of blue-ish days, today might be another red one.
Here's to a Brent crude trading over $30 a barrel. I hope for another blue day here.
FB
Oil price firming a little today. HUR are marginally profitable at $28.46, I believe.
Well, love him or hate him "twenty ound notes for a fiver" Malcy, is positive in his blog after the HUR CMD. Little mention of water cut issues.
Why?
Yes the big elephant, a mammoth in fact. Is the increasing water cut from one well. Dr T keeps repeating that it's perched water and that it fits their theories in that respect. The upcoming CMD, there's going to be quite a few very smart people waiting to hear a convincing explanation why the water cut is not going to kill off one of HUR's only two producers. Without such a presentation, expect a lot more speculation about water cut. And now, especially now, that's going to mean a very poor showing in HUR's share price short to medum term. I think.
The buy in by Spirit was always going to end badly. A company majority owned by a cash strapped zombie company (Centrica). It's a shame HUR really felt the need to sell out to such a company. But it's history, I hope HUR have learned from 2019. If they havn't they'll go bust frankly, in today's climate.
Well said, Amaja.
Oh well, that didn't last long, back under 10p again now. Nice while it lasted.
10p this morning?
For me, the message is, "At HUR we have our tin hats on, we intend to sit tight, hunker down until the weather gets a lot better". Sensible.
Indeed and still the share is about 1/20th of the value it was four years or so when it jumped to 10p and then collapsd again. The reputation of the company has never really recovered from that.
No, but Bernstein DOES know how to make money. He has made a packet on HUR over the years. And he still is.
Thank you amaja. Here's hoping for an early offload. That would suggest February cargo is partly still on board and wells could be 20k per day producers presently. (Unless the tanker is collecting water, of course!).
mover123, exactly.
Fair enough Jiffybag. All the same I wouldn't want Sir Jim as a business partner. He's a 100% ruthless SoB. But he's brilliant at what he does.
Much as I admire Sir Jim and the business he built from almost nothing, you really do not want INEOS bidding. They only buy typically very distressed assets at about 30 to 40p in the £ or less. A very bad day for us if Sir Jim comes buying HUR stock in large quantities.
FWIW, Amerisur dropped to around 12p, not 1.2p. I bought at 19p and held for about two and a half years and sold at 19p. Rinse and repeat at HUR.
mover123, that's precisely (almost word for word) what was said about Amerisur. Sadly, I see remarkable similarities. I hope I am very wrong though.