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Placed vote against this morning very easy by phone . Also very interesting this big broker was very aware of Shareholder disgust in Hurricane scam , as many registering NO votes . As a bonus received a positive message from my MP stating my concerns forwarded to Minister of Energy and Industrial Strategy . On that note the Government has ,by the Headlines last week, woken up to the fact that under the Covid pandemic the UK's Industrial Strength and Heritage is being captured by the East under complex finance fronts .
The mistake Hurricane made in their scam was putting Shareholders in a position where they have little left to lose .
Must be late .
$230m CB Debt
$64m paid in interest .
$150m free cash end May 21
$16m to CB Neutral position .
New BOD , Offer $50m CB settlement by 31/12/2021 . As that is the value CB's have assigned to Hurricane May 2021 for 95% of company
The above would dismiss the court argument by CB Holders of Risk of Non payment .
Keep hearing an argument regarding potential losses for CB holders . Calculations suggest CB holders have received over 48 months $64m interest and Hurricane have by May 21 month end $150m in Free cash .
Leaving CB's only $26m to a Neutral position ( 3 months production) . The CB holders are under zero risk of losing their investment and with production still at 10k a $30m offer with the $26m to settle all CB's by 31/12/2021 seems more than reasonable . As this is so High Risk .
Thereafter Shareholders own whatever production remains and the opportunity to look at all options free of coercion and manipulation .
The Shareholder no vote has been constructively undermined by the threat of zero value (Dec 2020 RNS ). Resulting in many shareholders selling off part or all of position, including myself with 75% reduction at a significant loss .
Have the Bondholders bought these and are now confident of pushing through the scam ?
Have the Honest Shareholders retained sufficient holdings to drive through a NO vote .
I have held 25% to ensure these Bondholders are firstly identified and secondly that the Hurricane BOD are named and shamed in the Public Forum . This BOD should if found Guilty of failing to protect Shareholder interests should be barred from sitting on any BOD for 5 years .
The Shareholder action on Hurricane has been impressive in providing visibility of this BOD's actions and i congratulate all participants who ' walked the walk '.
We haven't rolled over as the BOD and Bondholders expected and this fight is for the Pi's on Aim who should have protection from schemes like this one from the BOD .
Always interesting, when so many non invested parties have nothing better to do on a Sunday than give advice , berate and scold battered Shareholder's .
Really would any SANE person bother .
Must be Double Time on Sunday and yes it will keep dropping you are doing a great job .
Unfortunately now we will hold , as zero value in selling . Waiting for investigation and Court case .
How often have companies had a transfer of ownership without an owners vote ( shareholders for clarification till July 2022) ?
If it's all above board let Shareholders Vote !
Written to my MP to raise profile for an investigation and stated poor performance of FSA with PMO . Trying to write off huge losses in my mind , not so easy .
Unfortunately People like the Gupta's who took South African Tax payers for Billions were never fully investigated due to UK desperation to find any Financing for Steel .
The UK is a Patsy for ARCM , Kerogen , Gupta's , China ect .
Aim oversight is a Joke and will destroy this institution for Pi's .
Trice has only suffered reputational damage, financially he is many times better off than his 'perched' followers .
This has been one Big Aim con , covered up by Covid 19 and executed by Kerogen . Another company transferred to China for peanuts .
Crystal Amber as stated many times are in on this and their lack of action just confirms this .
A classic PMO , SXX sting with authorities more interested in 200k spent on BJ's wallpaper than a multi Million pound fraud on Aim yet again .
U......... B.........s
The only thing proven regarding reserves is that they are unknown .
The CB holders will be getting far more back than their original investment and the Company for free . lol . Only invest if you can afford CB's , a good lesson .
Already shafted with this so will hold now , AFTER all the warnings .
Ensure that maximum discomfort is extracted from BOD , although Mc Tiernan and Maris will probably run for the hills before the end of this year .
Will wait for real AGM's to restart next year .
Maybe Delusional
Oil is in place in significant Quantity .
Cannot be measured due to zero expertise in WOS fb's and unpredictability of fields so written down to zero. Halifax a prime example . See BBC for detail .
Any CPR's now understood to be not worth paper written on and will follow desired company line .
Trice removed as he was a problem to Kerogen and a CB takeover . Also arrogant and would not take advice . Possibly didn't take offer for Lincoln as reserves not as stated ?
Next Q June 2020 .
How do the CB holders buy the field at the lowest possible price ? Zero if possible counting on the Hurricane BOD for assistance .
Keep Mc Tiernan as he is 'Ornamental' and add Maris who will follow instructions and report back .
Produce continual negative press at a time where Lockdowns prevent any confrontation or challenge to the desired narrative .
As FB's are new in WOS very few can challenge Hurricane line . Trice locked in Shed .
All would have gone to plan earlier, had Brent not picked up and resurrected the possibility of CB repayment . A problem .......... but hold on .
Another CPR to hammer the price .
No forward Plan produced to hammer the price .
Continued warnings of Shareholder wipe out . Hammer the price again .
Just to make sure that water cut stabilization does not 'save us' .
Switch on well 7 to ensure the technical facts now support financial failure and of course support the court case .
FCA are a joke unfortunately and All Aim companies know this .
Crystal Amber have been buying CB's i would assume to cover their position , so will not be riding to the rescue .
Why would any Bond Holder not vote for a Deal that gives them Hurricane for virtually nothing with no risk ? Paid for by Shareholders .
It's Laughable that it's even contemplated .
Spike or what was your Ramper name? Nice of you to join the board .
Hurricane despite all the BOD's best efforts had the potential to get through Financially .
Very strange how well 7 suddenly comes into play after so long off line . It will be very interesting when Kerogen (China) emerge as a large STAKEHOLDER in the Strategic area WOS .
Maybe some of us live by an Old code . Honesty Truth and doing the right thing for those who are trusting you . Laughable really .
The belief that Dr Trice knows what he's doing and Mc Tiernan is looking after Shareholder interests that the BOD maybe competent...... lol .
Back to reality ....
CA unfortunately in some way are in on this Scam .
Amazing how so many non invested ....... Have suddenly appeared on this Board ,going over Technical operational detail that really means SFA as the company has been stolen by the CB holders as with PMO .
The reality is many people have had life changing amounts of money legally manipulated from Trusting (Stupid ) Investors again . What you are witnessing will be the end of Aim from a PI perspective as no Legal protection from Fraud .
Please do not roll out the old carp about Investment risk . The Aim exchange has cooked its own goose with Fraud the 'Norm'
Kerogen have copied ARCM with a Strategy that has removed another UK oil producer .
T.F.P.O . Mug
Have Crystal Amber also been Shafted , or were they in on this ?
When is the Rubber stamp court date for this Disgusting Transaction .
How convenient that is also Virtual .
What a DISGRACE .
The BOD now has the Vision to see Oil prices out to July 2021 but has Zero vision on any possible assistance to the POOR ..... Shareholders . Disgrace .
This Stitch up has been Organised for Kerogen ect .
Stinks like the PMO one with ARCM's non declared short , crippling the company over 2 years and being rewarded by FSA with a pathetic fine .
Oil exists in Halifax, Lancaster ect and when 'The Billions ' are rediscovered then some Lame BS will be rolled out and the BOD including Trice will say we were right . ffs .
Set up by BOD for Bond Holders .
Mc tiernan can go into the not welcome in UK with Fred the Shred and Green .
FSA not even worth a call on missing Billions of Oil .
With potential Brent rise they needed to get to the end game .
Lying Ba....s the Lot .
In until the End or.................. Miraculous recovery . 90% down .
Talk of any Takeover/BuyoutM should not even be possible as Hurricane has not proven up Fb's and has reduced reserves by 90% + over last 18 months .
Why would any company wish to buy this Disaster ? Unless Dark Arts in play .
Why does the Hurricane board continually paint a bleak picture of the business with zero positive commentary ?
The only reason IMHO and hope is a plan to soften up CB holders for an early deal and remove the Vice like grip that appears to be forcing Hurricane into Administration .
CB Terms as understood .
Not allowed to re-finance without approval .
No more drilling without approval .
No purchasing of Discounted CB's unless 100% of CB's are bought .
7.5% pa interest with the above .
BOD appear to be working hand in glove with CB's on communication ?
On a more positive note for the Weekend .
$140m free cash by middle May 2021 .
25% Water cut being maintained .
8 Tankers at oil + $64 will allow CB payoff .
Production stable at 11,200 boe presently .
Crystal Amber vocal although not yet in the information loop .
Well 6 and 7 , believe still unknown resource if water can be managed could just keep pumping .
Worst case reserves scenario on the table , which i believe is 'Best Guestimate '
With all the above
'We are still in the casino and at the Table'
Have a Great Weekend People .
GB
Could CA have been given the nod on a potential Deal at around 9p so averaging down ?
With Brent at +$66 , why are Hurricane not securing CB repayment with a 12 month Hedge at $63 ?
10K boepd hedged and no more sleepless nights regarding shareholder wipeout .
As further insurance book a 2nd producer at $60 to fill any gap left by Well 6 watering out .
RNS
If CB holders are so sure about getting all their investment back .
Why are there $100m Hurricane CB'S in the Market at 50% Discount ?
Why would the original agreement allow a Full purchase of all CB's by Hurricane after August 2020 ? They do not have to wait full term i believe ( July 2022) .