Member Info for GloucesterR

I suspect we will be in a very different position by the end of the month and the annual report. It should give a forward thinking view of where HUR is going and management thoughts in terms of development. At the moment everything is historical and getting off life support. What the market will want is a growth path going forward which I am sure is at the forefront of CA's mind. the macro situation could not be more supportive and I am sure we will get a few surprises!

Brilliant Bloomberg interview with Oil Economist saying that imminent US Strategic Reserve opening will have very little practical impact. Highlights real issue facing Russia now with refineries turning back Oil and the storage tanks in Siberia, which are outdated filling up . Also highlights that US service companies have pulled out and that Russia does not have the skill set to maintain its Oil infrastructure. Economist looking at $160 oil towards the summer. !

I completly agree with Senseman. I have looked at HUR from afar for many years with Malcy having it in his bucket list together with Sound! I think PI's got really burnt and the company is still tarnished with that history. However, macro events and the rise of POO has transformed this and for a correct multiple to be applied I think 2 things now need to happen. Firstly new BOD team as Senseman says and a roadmap going forward to diversify production away from vulnerability of 1 well.

I hope that the BOD, as it appears ultra cautious (for obvious reasons), will, post the AM extension have hedge a large % of production going forward. It would make real sense to have a guaranteed price at these really elevated prices whilst the company is in recovery mode. Hopefully this will come out as part of annual accounts presentation.

Apologies mistype> But the gist is there!

The problem with nuclear is that it takes about 10 years to come on stream. Planning then building. The North Sea development is much quicker and can be argued provides a more immediate National Security dimension, combined with enviromental improvements. For me the key invesmen

The problem with nuclear is the time to come on stream, circa 10 years, from planning to commissioning. North Sea fill in much quicker. Combined with enviromenal l improvements by producers. One of the key attractions re HUR for me is the intentions of CA. We know they will have to exit by end of 2023 so will look to maximise value short term.

As a newbie i defer to those LTh's but my gut feeling, with the trumoltuous history of HUR and the involvement of CA I think the company will take a cautious approach to capital expenditure. CA want to exit in 18months or so max. They will want to Maximise value and minimise risk. This should be good news for PI's. I suspect the BOD will be looking at unplugging or prime site drilling to bring production up asap. Just imagine the value of HUR is we hit 15,000 BPD in the next 6 to 9 months!

Brilliant You tube clip thankyou rfarfa . For those that dont have the time to watch (just few minutes) the commentator explains that due to lack of refining storage as Russian crude blacklisted in ports and docking facilities the only option is to start shutting down production. this will be catstrophic as trying to restart, particularly in Siberia and its pipeline will take years to come back on stream. Commentator believes as Sesmen says will start happening in the next few weeks not months. I think Goldman Sach's projection of $150 oil by the Summer US driving season could be the right call.

Having come on board a couple of months ago but having known of HUR for a number of years I think capital discipline is key. I suspect that HUR will focus on short term production projects which implies its own portfolio. vulnerability with one well. CA have an exit I understand maximum Dec 23 so will look to maximise NAV and that can only be good for PI's as so often with AIM it is the BOD that reap the benefits. Will be interesting to see what Spirit decide. AM extension terms really confidence building as thought 12 months but highly likely 24 months , possibly more. Hopefully publicity next week and instiutions jump on board as well as PI's as free float tiny.

Kam. Apologies wasn,t aware of history.

Really interesting article in Telegraph today about Harbour Energy. Aiming to produce $1.7bn free cash flow this year. Looking for aquisitions in North Sea. I wonder if it might replace Spirit or come in as third party? Or even take a slide rule over HUR?

Correction meant BP not Shell

Just taken a position after last few days. Can see huge upside both due to companies restructuring and macro events. Quick question if ok. Looking at previous RNS I think Company hedged a years production in 2019/20 at $34 . for 4mbs. I believe the Shell offload contract in place at the time.? If so I cannot believe that the company wouldn,t have secured a similar hedge at say $105-$110 around beginning of month?

Just for clarity. I sold out on Monday. I want to be transparent as these forums are important and we are dealing with peoples money. Nothing has changed for the company and I expect news re drilling etc... any time now ( it is overdue as my email correspondence intimated very soon a couple of weeks ago). But the Ukraine invasion is just too big an issue for me with regards to risk and I will look to reinvest when the risk reward balance becomes more favourable. Sadly I expect things to get worse before they get better and I am unsure where FAR will now get the funding from.

Sadly I sold out on Monday morning after the weekends news and events. I will re enter when clarity returns, not necessarily from the company but the wider political situation. The fear for me is that Kaz is indebted to Moscow after recent turmoil in Kaz and that is such a huge risk. WE really don,t know where this will end up I,m afraid.

One thing I forgot to mention re BFS and Stage 2. In the last interview given by Sir M Davis talking about the investment philosophy of Vision Blue ( rather than FAR specifically) . He said that VB is an "Investment vehicle that seeks significant multiple returns on capital and will aim to exit at just before production". Now for me, that would make a phase 2 base case , as otherwise VB would be exiting at stage 1 and miss out on the real NAV creation.

Yes very quiet here, But understandable with the timeline. I believe this to be a real positive as free float pretty tight and it just takes a piece of real news for PI's to jump on board. I have been informed updates due pretty soon re drilling etc... As you say so much potential, so many income streams and the cost curve is just eyewatering. ! The big question for me is post BFS will the company jump straight to Phase 2. The argument is that the VFB market needs a subsidised Vanadium price to really get off the ground, so more supply would make sense and would also allow FAR to knock out the competition. WE shall see...

One of the many things I like about FAR is the response to emails. Of course replies can only be within strict parameters but still helpful and in this case reassuring.
So just had reply this morning to my brief email.
1. Timescales as outlined by MB in recent (December) interview. Should shortly have notification of RC drilling commencing.
2. Should shortly be receiving results on existing drilling commencing 23rd November 2020.
3. Arc furnace in schedule for 2nd half 2022, no delays.
Everything going to plan.

So very reassuring.!

If you listen to the December 2021 Director's talk interview with MB he goes through anticipated timelines. it appears that unlike so many other small resource companies FAR seems to be hitting its schedule. I know that BFS has been delayed considerably but that is due to really positive news re incorporating phase 2 and hence significant expansion in drilling campaign. I think the BFS will be eyewatering if anticipated Carbon Black results are as hoped. As MB said in his interview the project could stand on its own with the co products alone!

Should be a key month for FAR.
1. Results of stage 1 drilling.
2. imminently confirmation of stage 2 RC drilling commencing.
3. Electrolyte patent review.
4. Carbon Black results.
5. "locked cycle" results .
6. Anticpated delivery date of Arc Furnace.

I have a real gut feeling that things are moving faster than we are aware of and the stage 1 BFS will be with us shortly in qtr3.