Member Info for Goldenbadger1

One of the many reasons behind this mess is the Trice and Bod inability to gather accurate data , understand the field and evaluate the evidence .
After 2 years of the aforementioned evaluation the following :
Reserves downgraded by 90%
Perched water became Aquifer water .
No understanding of behaviour of fractured basements .

Hurricane are now nearly 3 years into the evaluation process .
Do the old and new highly paid experts have the following answers ?
1. Profitable reserves quantity .
2. Accurate placement of said reserves .
3. Success rates of possible interventions
Based on 3 years of Data and Experience the above should be 90% accurate even in the O&G sector . Otherwise what are these experts being paid for?
Maybe Mr Maris has the Answers ?

Company update and Financials should be this week 28th or 29th .
Next uplift due also next few days so one Good news RNS long overdue .

4P lol
Not any significant amount of shares ...... Chump change . lol

Looking at C.A's note today this was the Q they were putting forward and BOD were rejecting .
The equipment to tie back is available and paid during 2020 .
Are Hur waiting for Spirit to finance or the Oil is low quality and low quantity so unviable ?
Could a tie back of a new Lancaster well be more viable , although never publicly discussed ?
Are the BOD banking the cash for CB negotiations to reduce risk ?
Anyone's Guess really .

This is really testing investors Metal , keep thinking can't get any worse then sure enough !
Next offload due around now if all going to plan , water % will be interesting .

Gino isn't a Shareholder vote required ?

I am going to sound like the proverbial stuck record and i will await month end update . As a financial safety net , have Hur hedged the next 6 months production at $50 + are are they again going to Try and catch the falling knife ?????.....

Expect an RNS later today stating Bod are considering all options to counter CA pressure .

DE
Yes indeed there are discounted Cb's available to buy in the Market now , so willing sellers .
The Q is the Quantity available in the Market and what would be the situation regarding the balance required to cancel .
Reading the Terms of the agreement the Balance can be bought at full price after August 2020 .
Does not mention Willing seller ....... or am i missing the plot ?

Have we any finance Guru's on here ?
Hur sit with approx $120m free cash after next lifting within next 3 Days .
Presently C.B's are traded in Hurr at a better than 50% discount .
Let us say Hurr buy $124m of these discounted C,B.'s for $62m , leaving the other 50% at full price $100m .
Total cost to Hurr $162m and saving $16m in interest .
In the CB agreement Hurr can only buy all CB's to finalise Debt, not part , which is what they would be doing .
Is the above possible ?

Now is the time to follow the 'Shalers' and Hedge production for 2021 at $50 . Unless Captain Maris has instructions to hit the 'Iceberg' .
The failure of the above is the main reason , the good ship Premier Oil was captured without a shot being fired .

July 2021 .....

Possible route for the 'Titanic '
Around 26th Jan 1st offload of 2021 adding +- $18m to cash pile ( using Dec figs ) .
On the basis of Oil + $50 for 6 months and water cut increasing 1% max per month by July 2020 providing any of many other concerns have not materialised Hur will sit on a cash pile of $225m . Sufficient to pay off one year early the C.B.s .
The above would result in an interest saving of $16m pa, which could be utilised for signing the F.PS.O. up for an extended lease . Keeping the Hurricane cost boe at around $14 .
Book sidetrack Q3 , payment Q4 out of cash flows . Hopefully Spirit situation could also by Q3 be resolved positively as Hur have the equipment to tie back Lincoln not the finances .

PMO will remain around here until value of 5.5% is Known .
Rockhopper is 'fashionable' until Harbour plan is Known Good luck

Rockhopper are not getting Diluted are they?

Pointless B.S I think so

Same story for 6 months .
Same pattern . Where are the positive RNS at this Oil price Hur have options .
Hedge oil at $50 ?
Negotiate a CB deal at a good Discount if this is so risky ?
Use fcf + $100m and rising to pay for Sidetrack ?
Release confirmed details of accurately recorded resources ?
BOD have had months to get forward plan together the Bonus is the unexpected Oil price .
Where is the Plan ?

Ricardo .
BOD will do what is best for the large investors/Cb holders .
No you cannot trust them to do what is right for small pi's .
Oil price being inflated presently i believe to get in Shale Hedging which mostly ran out in Dec.
Hurricane can also now hedge at $50 why aren't they ? Reduce risk / cannot confirm Production ?
The ever present ramper's have stated the same drivel since $35 oil the share continues to go backwards . Why ?
AIMHO

Hurricane will need to buy all .
Best action to avoid Dilution .

CA are probably also buying the C.B 'S at a Discount so will cover their exposure .