Member Info for Goldenbadger1

Hedge 10k boepd for balance of 2021 at $60 tomorrow , then worry only about stable production and forget the rest .

As LTH my rationale is as follows :
Hurricane agree to poor CB terms for refinancing results in Dilution and zero return for Shareholders giving company to CB's .
Going ahead with a High risk drill and failing would financially end Hurricane . CB's paid off and shareholders get zero .
Continue to build free cash on Oil +$60 by December 2021 , CB's Debt of $230m covered at 11k boepd with water cut managed . Eventually wells watering out end 2021 .
Worst case with above , Shareholders own huge field with zero production but still in the Game .
Best case still producing 10k in 2022 , zero debt and cash generation pays for a confident intervention .

Bondholders have a great deal 7.5% pa with little risk . Mr M has put the stake in the ground basically stating if the deal is not good enough for ALL stakeholders Hurricane will continue to produce and look elsewhere for financial solutions .
Yes they are still in Negotiation but for a change an AIM CEO is batting for Shareholders in my opinion and not rolling over .
Why do i think CPR will be good TTT ? I believe the Flanks of Lancaster hold decent deposits and Hurricane ( Trice ) could not have been wrong on All the missing 3 billion barrels . Halifax especially after the old BBC article had 1.2B boe ALONE !.

With a positive Resource upgrade on the way and Cash in the Bank +$120m and growing .Very impressed Mr Maris did not capitulate to Bond holders and dilute shareholders . Maybe pressure from C.A . and new CEO finally taking ownership of Hurricane from his hopeless board .
Focus on production to pay off Bonds 2021 , focussed drill 2022 no problem . Hurricane will remove the Aim Vultures and Spirit may also get sold this year resulting in more options opening up .
Not unhappy with stated strategy and RNS deliberately vague to avoid cheap buy outs as narrative now confirms very High risk project. All to play for IMO .

Brent on a Dip , hopefully our esteemed leaders of Hurricane have Hedged 10K boepd at $63 +.
News now overdue and coinciding with this Dip, should not make a difference as Brent rising +30% didn't .
Hopefully Mc Tiernan reads Malcy's blog on what makes Kistos an investable company . The Answer A.A. the CEO looks after Shareholders ....... It's not Rocket Science . Mr Maris and Bod .

Maybe Crystal Amber gradually exiting position before it Hits the Fan ?
2m shares a day 100 days ?

HUR debt now only $100m as cash in bank of $120m so any buy out should be + 20p

Interested to understand how the December $19m was accounted .
Ave load 2020 per month 425,000 boe .
Brent December $50
( $19m / 425,000 = $45 per boe to free cash ) So impossible .

1. Was Dec 2020 load 500,000 not 425,000 ? = $38per boe to free cash . Possible .

2 The $4m Quarterly interest payment , only due Jan 2021 ? Net costs lower Dec 2020 . Possible

3 Both 1 and 2 . combined to produce $19m .

Hurricane Breakeven all inclusive cost between $30- $35 boe .

Therefore 425,000 /$32.5 boe = $14m per load at $65 Brent of free cash .

Not a bean counter so please enlighten my musing's.

The BBC that bastion of Truth around the Globe , surely we have to believe the reported facts .
They would have completed a fact check with the BOD of Hurricane .

Bobbb thanks for the post on Halifax dated 28th March 2017.
BBC the World Service .
Hurricane have announced the Discovery of a 1,156 m column of oil bearing rock which has a minimum of 1 Billion boe at Halifax . What was this announcement based on ?
Trice opinion only , has it now disappeared ? Was it just Fantasy ?

Wonder IF Crystal Amber with 200m shares at around 9p are confident , or awaiting Death or Glory with this Share .
Anyone with knowledge ?
Inside Track?

Definitely should have invested in Seaweed .
Ah well , Hindsight is a wonderful thing . Bitcoin and all that .

IF ...........
One of these is accurate and commercially viable , e.g. Halifax . ( Even 30% accurate )
Hurricane will have a solution with a farm in , at Brent $60+

August 2019 Hurricane Presentation :
Lancaster 2P 37M boe
Lancaster 2C 486M boe
Halifax 2C 1,235M boe
Lincoln 2C 604M boe
Warwick P50 Prospective 935M boe
While this is old news is the new CPR looking at all these previous fabrications or just some ?

Correct Shareholders are cannon fodder for 95% of companies and MM's who will 100% of the time act in their own interests if this favours small Shareholders that is of little consequence .
Aim is a casino fixed against the above .
Nobody invested here is naive or shouldn't be .
The FCA are a waste of space .
Certain posters on here are paid to manipulate sentiment and post rubbish to move any contradicting posts down the board quickly .
Hurricane decision makers do not read any board such as this one .
I think that covers many repetitive posts . baaaaaa

BB yes all of that History is in todays share price . The point for discussion is what are Hurricanes options in the next months ?
1. Carry on as we are , hope Oil price stays over $60 and Oil keeps flowing from well 6 . No drilling and have sufficient cash to pay CB's back July 2022 ? Thereafter sell the company .
2. Negotiate with CB's for extension on loans to finance $120m of drilling with dilution to shareholders ,
3. Sell off a couple of licences if buyers can be found . Finance drills with this and pay off C.B's 2021 .
4. Get Lincoln up and running with or without Spirit as we have equipment for tie back .
5. As suggested earlier , pay back CB's 2021 . Self Finance drills September 2021 if water ect can be managed .

Daltry
The loss of over 90% of audited reserves , the 2 devastating RNS's 2020 , the January shock of a sudden positive RNS and nothing since . Believe this was moving in the direction of a very nice CB deal as with PMO . Unfortunately the Oil price rise has made the opportunity to justify throwing Pi's under the Bus , more difficult but not impossible .
Depends if Mr Maris is appointed to be his own man , or the Chairman's ....... Poodle .

Hurricane sits on free cash of around $120m with an all in cost per barrel at 12,000 of $24 . Depending on BP agreement and timing , adding to free cash at around $15m per loading .
The point is arriving July 2021, where we can pay off CB's and self finance drills in September 2021 . Does Mr Maris have the guts for this option . Hurricane will save $16m pa in interest alone and get rid of the manipulation .

FT agreed the Chairman Mc Tiernan needs to fall on his sword , as has been a well paid Ornament .
Trice has fled the scene and is probably exploring how he lost 2 .0 billion barrels of 'Perched ' reserves .
On going forward , the Oil price has now put the BOD in a very uncomfortable position where they can save the company and make a name for themselves , or join Trice in his Executive garden shed in the Cayman's .

Lincoln apparently draining into Lancaster as connected why share 50% if you are getting 100% , unless other non connected deposits that are commercially viable . Api was lower than Lancaster i think
Should Lincoln production , allow Wells 6 and 7 to be side tracked and financed while off line , then a different matter .
n.b. only a portion of CB'S available at a discount so possible settlement of CB's at $180m ?
( full priced/discounted .... average ) . As they start to be bought price will rise .