Member Info for Genghis15

Quite. Doc's a prat, plain and simple. Malcy knows his stuff but is often a poor speaker, and is of course paid for his opinions. Personally I still find him worth listening to, but Doc....no thanks.

"Science told us in the 1990's that by 2020 temperatures would rise by 7 degrees and sea levels by 6 metres."

Utter nonsense. There were never any predictions of changes that big, that quick. You must have been watching the movies, not the documentary channel.

Nonsense.

What I post (or not) on here will not make one iota of difference to outcomes, nor to the SP.

There are 342.5m shares in issue, and the last raise was at 6p.

I can think of no reason why a future raise could be done at a higher price, but let's just say they get one away at 8p.

We don't know how much they will try to raise, but we do know "additional funds will be required to resubmit an NDA and reach a new approval date", and there might be a need for further trials also.

@8p per share, £5m would be 63m shares, £10m 125M shares, £20m would be 250m, almost 50% dilution.

I have no idea what the amount will be, and at this stage I guess the co doesn't either, pending the meeting.

I was as sure as anybody here that this was nailed on for approval, and sympathise with the LTHs, some of whom must be badly hit by this. For their sake I hope things will go well.

For myself, I'm comfortable that I took the hit and will not be sweating on it. That might be the wrong call, but I'll live with it..

gents, I refer you to my last sentence.

My previous posts make clear I am relaxed either way ; if the SP falls as a result of the placing we know must come, I may buy back in.

If it does not, either bcos of a higher placing price or an opportunistic TO, I will miss out. What I post (or not) on here will not make one iota of difference to those outcomes, nor to the SP.

I used a gift link which should have enabled others to read it, so sorry if that didn't work.

Birdseye, I thought it relevant ; didn't know it had been posted b4. I never said "sold at 8p and will buy in when it’s lower ?", so stop trying to be a smartarse.

What i said was " I took my money out at 8p. ......... and my decision mb wrong."

Small minded sniping only diminishes the poster, not the target.

Not an encouraging story, I'm afraid.

https://on.ft.com/2KTb2Ia

See p17

https://www.hurricaneenergy.com/application/files/2915/5531/1740/Hurricane_Corporate_Presentation_-_2Q_2019.pdf

In a word, yes.

But tbh anyone who still doubts the LT well productivity will only be convinced after 3 months or more continuous production.
HUR have stated in the past that 6 to 12 months would convince, also confirmed by NEDs personally at past AGMs.

However, things move on ; imho 3 months would do the trick now if all goes as planned, and at that point we should have at least one well result from Warwick/Lincoln to firm up the enormous resource base here.

Should be a good summer, fingers crossed.

"Delek, could not afford HUR, for starters"

No, but there's plenty of deep pockets not just among oil majors but in private equity too.

I'm not forecasting a definite TO, bcos I think an agreed farm in(s) either to individual fields, or possible altogether, is more likely, quite possibly by a consortium.

But some sort of corporate action will happen this year, imho.

https://on.ft.com/2P1l74j

It mb they are acting on behalf of warrant/CB holders taking downside protection.

But not really my field, there some here better placed than me to explain.

Suspect it will be a 3rd party, doubt Spirit will want to fund all the capex alone.

Fred
"How do we nominate him for a gong in the 2020 New years honours?"

I have little doubt that at some point in the future Dr Trice will be Sir Robert.

I won't.

As to current sp, I am not a trader so my thoughts ma be wrong.

But imho the level is less down to EPS doubts than to persistent selling into any rise by a significant share holder, and possibly other manipulations that are outside my competence.

But when you look at the SP and PoO over the last year, take account of the milestones passed since, and the closeness of FOIL, drilling, and LT proof of concept, I can't understand why it is not at least 70 or 80p by now.

jpwh
It is a fact that throughout the EPS project I have been too optimistic on timelines, for what I thought were good reasons.
HUR had a pretty good track record of managing the previous drills to time and budget, and of surprising on the upside.

The EPS has not gone so smoothly. Some issues we know are down to BW (rope etc) I suspect some of the Dubai/Rotterdam delays too. Mb as a non oilie I was over optimistic that a complex engineering project could proceed with no hitches.

But we are reaching the end of the EPS implementation phase now, and once we see a flare little engineering risk should remain. We are past the worst seasonal weather, hopefully.
There is still the geological risk that the wells will not perform ; if you think that is significant you would not be here.

Drilling is imminent, too, and whilst it may technically be exploration/appraisal, given past success and HUR's raison d'etre the CoS must be very high indeed.

My only worry about this share, this project, and this company was always Poo, and that remains true. But that's looking good ; OPEC, SA and MBS appear to have learnt that they have to manage the market.

So yes, I'm very optimistic that 2019 will be HUR's year.

But as ever, fingers crossed.

JK

Thisone on my desktop, livecharts on mobile, for no good reason.....

https://markets.businessinsider.com/commodities/oil-price

Poo now $71.
Flaring surely imminent, FOIL mb 3 weeks away.
Rig on way to Warwick.

The next month, the next 3 months, and the next 6 months, must surely be showtime for HUR.

Even by the AGM in june I expect us to be fighting over who buys the post meeting drinks. ))

CashFerret

Dr T stated in the interview that once everything plumbed in HCs would begin to flow, but that would not be FOIL. It would generate a flare visible to nearby installations, so would be RNS'd.
FOIL would come some 3 weeks later, after both wells brought on stream, will also be RNS'd

If we get a flare today/tomorrow (highly likely imho) 3 weeks takes us to end April / Early May for the FOIL RNS.