Member Info for Goldenbadger1

BB good summary , my understanding of the CB's is as follows :
$230m due July 2022 and can only be bought in Entirety prior .
Presently some Hurr CB's available to buy in market at 44% of face value .
Hurricane could have Investec buy these available CB's on there behalf , at these discounts .
Cash in bank presently $120m +- and rising . $15m pm at $60 boe
Cash in bank August 2021 $200 + if production keeps tracking .
If no intervention by July 2022 wells closed CB's paid off . Shareholders shafted .
Hurricane have to hit a productive feed with next drill otherwise game over .
Drill should be Sept 2021, as cash in bank , if well 6 closed for Drill .

Will be buying tomorrow small quantity .
How do you eat an Elephant ?
Small pieces ......
Not worried if 20p or 21p have already been stuffed !

Looking at the Bigger picture is fine , depending on your personal Investment .
At this stage prefer a Flash rise and see where this goes .

Why in Triplicate EC ?

So after 2 weeks then Jen ?

Protect

JenE ,
ARCM have really played a blinder in being allowed to Destroy PMO .
FSA's pathetic penalty for non-compliance is a joke .
The opportunity to Act to project individuals and Companies from shorting attacks lay with FSA finding them Guilty. Unfortunately they did not take the opportunity to make an example e.g. a $2.0 b fine .
FSA failed , so need to take Accountability . Unfortunately the much used line of ' We have learned lessons ' will be trotted out eventually which is Doublespeak for 'we will now have to do something because we have been proven to be Incompetent ' .
Hopefully the actions of Activist Investors will send a clear although late message .

Don't worry SK now Hedge funds are under threat from Investor Activists , if the Transfer of Wealth is complete the Rules will be changed .

ARCM have basically destroyed many Pi's here as without there shorting PMO would have survived and now be in a strong position with Tolmount coming on line . If small investors and Reddit could give this 'the treatment ' nothing would please me more than to see ARCM decimated . ARCM have destroyed a UK company and Hedge Funds will applaud them . MMS .
Wonder how long it would be before the useless FSA , suddenly become active against the aforementioned genuine investors ?
' Revenge of the Pi's '

BB2 Thanks for the post very informative and a stark warning .

The sudden improvement in Brent ,i believe scuppers the Strategy of 2020 to run the Business for the benefit of CB holders only .
With over $100m in the Bank , Maris and the 'others' cannot now justify winding the business down and instead have to look at a growth plan .
Hurricane have to decide which Team they are playing for . CBH or Shareholders .

I would read this that anyone except Hurricane can buy some of CB's ( Discounted) . Kerogen , Investec ..... ect .

The next uplift is Due and this event should it happen in the next 4 days , confirms Hurricane is Still alive and Kicking .
Laserdisc the Oracle regarding Shipping ...... what's Happening ?

Agree DC on buying Discounted CB's .
Could Investec be part of that Strategy or can Hurricane buy CB's themselves ?

jULY 2022

The proposal Mr Maris should be considering is , Finance the settlement of existing C.B's . Thereby removing immediate (July 2021) risk and resetting a 5 year finance deal .
Obviously the above new package would have to be sold on a Trustworthy and Realistic Hurricane Plan and may involve a Higher interest rate to avoid dilution .

Maybe just wishful thinking but as the Great Madiba said ' Challenges always look impossible until you achieve them '

Could they be putting together an alternative Financial package DC ?

Oil faces the same challenges as Tobacco did 25 years ago , no longer p.c. The aforementioned limits financial access , among many other challenges , so more of the same is off the table .
Two new models need to be applied .
1.An approach that models Rockrose where all Stakeholders are rewarded . Proof of this is the confidence shown in Kistos a newly formed company by excellent AA which has no assets yet but is well supported. When RR stated their case to look after Stakeholders they did exactly that .' They walked the Talk '
Unlike PMO .
2. Follow the BAT model regarding well controlled Debt and regular Dividends so those who still wish to invest in O&G are rewarded and continue to invest .

Jock my take is the Joint position is temporary . Play them off each other , now both have same intimate knowledge and see who can offer best financial solution for ALL stakeholders .

As a long suffering holder i have attempted to take a balanced view and with todays announcement of Investec joining the fray i believe this to be positive .
Investec over many years have been involved in High risk projects in Africa e.g . Mining . They are an experienced well resourced company and have the financial capability to put together a new Financial arrangement and retire the existing Hurricane Debt . The Question is has Mr Maris mandated Investec to do this ?