Member Info for GloucesterR

Kwasi Kwateng, whom I understand met with Premier Oil and Neptune exec,s yesterday or Tuesday to review implications of EPL has always been against the tax. He is in the running for a Truss Chancellor of Exchequer .

I can see Brent easily moving past $110 tomorrow and going forward . so I feel confident that $108 will be the average price achieved for current offload.

Yes good to see Brent continuing to firm.

Brent continuing to firm. I don,t think the realisation of the curtailment of gas going through Nord 1 has been realised and its impact upon Oil demand as an alternative. I suspect HUR will get circa $108 for this uplift.
Also definetly feel that forces are at play to keep the shareprice within a tight range.

Cebo. If a fund/share older has a NED appointed they are automatically deemed to be "inside" and therefore unable to trade on any market sensitive information. CA obviously have wanted to have a representative at board level, to recieve information and allow for some influence on the board. In HUR's case this is for obvious reasons. I believe recent appointment have also been at the behest of CA to give HUR not only technical skill set but also to bring the balance of power on the board firmly into CA's favour. I hope this is ok and that I have understood your question correctly. I wanted to jump in before "Dad" pipes up!

Thanks Dad !

Re P8 drill. Am I correct in thinking that to drill and test would cost circa $40m or so. If the well is not able to flow commercially that is really the cost (including plug). The additional cost up to $80m is the second stage where succesful and then requires tying in to AM etc...

Really interesting point. Someone mentioned a tea room rumour that HUR may look at JV for P8 ( which wouldn,t make much sense bearing in mind cash position , but additional pump etc.... injector/workover would be a push. On side note Oil behaving itself. Hopefully current offload will be circa $108.

Brent back to $105 so hopefully stable and we get to the top end of forecasts for this offload, circa $108.

0161 I think 6p for tax credits came from a broker note. Yes I fully agree that 15p would be disappointed to LTH who have been through so much angst and disappointment. I am just trying to be realistic that CA are pushing this and they have their own timescale and agenda. 20p would have been readily achievable short term without EPL but that has cut into cash generation. Fingers crossed you are right.

Tango sorry but a realistic value of tax credits to a purchaser would be circa 6p HUR will by September have circa £100m ($125m) in cash which is circa 5p per share. I don,t want to rain on anyone's parade but I have a gut feeling that 15p is CA,s target price. If however P8 is infact given the nod and HUR are given a new lease of life then yes 20p in 18 months time would be easily achievable assuming P8 flows as we all hope. I personally cannot see it with Maris at the helm and CA,s complete dislike and lack of confidence in CEO and CFO, you only have to read CA,s commentary on HUR on their website to get an idea of their view of management. Which begs the question with a majority of CA board members now why havent CA moved to quietly remove Maris? I think continuity speaks volume and that is a corporate action is going on in the background.

I believe the BOD intimated in post AGM chat with Simple and other Pi,s that September a forward plan/announcement would be made re future of HUR. We know that CA have an exit timetable ( which may be more flexible according to recent Fund announcements), and have in their commentary said that they are not in the business of running an oil company. I personally cannot see HUR being here post end of the year, I think a buyout or merger utilising the significant tax credits is the most likely outcome. P8 and plans are there to show future potential. No one has confidence in Maris and if CA were serious about P8 and staying the course they would have engineered Maris,s exit with a big thankyou and installed someone with a bit of of dynamism. I think CA are targeting circa 15p as a reasonable exit price and I am targeting September for that to be made public.

Simple, I would almost guarantee that when you were at school your teachers were so exasperated at your superior, holier than though ego that they let you write your own end of year reports! I can only imagine how life must be like for Mrs Simple!

Definetly has the feeling of being held in a range!

I think someone has said that this feels like someone is holding this back at circa 7.5p. I am normally sceptical but there seems to be something going on!

So the return flight from a 30 minute meeting in Bangkok or (**** for short!) and as soon as "The Superior one" has taken off his sandals he is here thankfully correcting our incorrect assumptions. It must be a really reassuring feeling still being able to sit at the front of the class holding your hand up!

Steady RNS. I was a tad optimistic re production but as Kooba on the other board says, higher than he was anticipating so thats ok. Net cash after repayment circa plus $85m confirms first week of July over $110 for 5 days so just need POO to improve for last 5 to achieve that price. Slight add. The net cash I believe does not include the circa $18m in escrow securing the 6 month lease on AM. so arguable net cash to a purchaser would be circa $110m post offload. As everybody says just need a plan or buyout announcement!

Expect the key piece of info in the imminent update is the daily production level, post the P7 test. Last update 7,700 well below previous month. I suspect a delay in ramping back up etc... as the falling production is historically circa 2% per month. Hopefully nearer to 9,000 BOE per day.

Also oil starting to stabilise again. My money is on Russia either not reopening Nord 1 which would be catastrophic for Germany and Europe or reducing flow to circa 40%. especially as Europe looking to discuss 6th round of sanctions this week. Either way such a move would push POO much higher.

Will be interesting if post bond repayment management give some indication of forward thinking. One update would be test results from P7 and any reservoir update. I agree Haggis everything looks lining up for some form of corporate action in September.