Member Info for Goldenbadger1

Kerogen 318m 16%
Crystal Amber 124m 6%
AFFm 98m 5%
Pelham 95m 5%

Calculating from various official presentations and trends at $40 Brent ave for balance of year ( US election year)
Hurricane financials if in a holding pattern as announced by the new board . Should look something like this within a 5% tolerance :
Production 4.7m boe
Ave Price $40
Revenue $200m
Cash in hand $100m carry from April 2020 + $66m 2020 trading .
Total for Capex 2021 $166m which will allow significant development opportunity .
The strategy for 2021 could be , prove up resources , profitable recovery and overall the stable nature of these FB's for further investment .

Many thanks Gordon its a Hold for me and back of Bottom drawer .
School fees Paid on this one .

Gordon can you polish your charts and give me a pointer on Hurricane as i'm drowning over there .
and yes apologies it is the PMO board ... i thank you

Gordon i think you've covered all the bases with your charts there . Good man

How difficult will it be to replace Dr T with an expert in Fb's or can the good Dr Parsley cut the mustard ?
Do Hurricane have the expertise in finding the ' Profitable pay zones' in what we know is a field of +500m boe ?
Lancaster 8 is a critical drill if it goes ahead , hopefully the new team can deliver the Sweet spot .
My thoughts AND considerations ...... as an LTH

One of the first requirements the Chairman should insist of his new team is Personal share ownership ......Starting with himself .
Having had the experience of working in an extremely successful business , share ownership from top to bottom was a Key Strategic element to our success . The result delivering a '10 Bagger' over 8 years with ' a favourable following wind '.
The BOD at these share prices should be 'Requested ' as a show of confidence in Hurricane to purchase a Minimum of 1.0m shares . A cost at these prices of less than 80k resulting in the situation that we all then have 'Skin in the Game '.
We would soon see a 'Laser Like' focus on making Hurricane a resounding success . I have had the feeling previously Dr T was ploughing a Loan furrow and i think the Decision to leave was prior to the CMD . Which may explain the show !

SSB feedback via Ben which i will summarise :
As per CMD 2020 presentation the company has outlined its near term committed capital expenditure .
A financial assessment will take place looking at the way forward regarding returning the best value for our shareholders .
Hurricane needs to prepare for it's potential repayment in 2022 and Repurchases of a portion of the bond ahead of maturity could also be considered given the benefit of reducing future coupon requirements .
All prior to today's announcement so has the above changed ?

Looking forward to Solan back up above 10,000 boepd Q3 . After all the write downs the Solan boe cost will be very interesting and production fills the gap left by Huntingdon .
Will be also interesting on the Tolmount purchase and if still pursued .
Positive next 6 months all things being equal .

There is no existing agreement presently to extend finance apart from ARCM being in agreement .
The creditors ' Sweetener will be to support the new deal and extend financing .
Pressure will be applied as TD needs the above .
Agreed the man in Turkey behind ARCM needs to be made an example of .
TD got a cracking deal out of BP agreed .

Other creditors in my opinion will approve the deal after pushing for a 'Sweetheart ' deal possibly increased interest rate or equity deal or a combination . They have seen TD buckle so there's ' Blood in the water '.

The deal on the table has been signed and is conditional on ARCM using the 82m shares issued by PMO to close part of their short . They will not be allowed by the agreement to sell into the market .
Yes the total shares in issue will increase to 922m from 840m but the outstanding shares required to close the shorts will still be 61m .
ARCM , Whitebox ect will be trying to buy these quickly with rising oil prices and the BP deal on the table waiting to be agreed . That is still a 6.5% short under pressure for closure as i see things .

Beer
Very happy to be wrong , as your interpretation looks excellent and as a LTH anything that improves the picture is most Welcome .

Bottom section today RNS
Paragraph 2
' and is expected to be funded by equity '

Therefore also as stated by PMO they are looking to raise $300m from an Equity issue . Unless i am completely misunderstanding the RNS .

Beer
As per the announcement 5th Jan 2020 Production stated at 18k .
Price to be paid $210 m on signing deal plus $115m later based on oil price . Total $325m .....Less $27m income from ARCM .
BP to get the deal through, will be keeping $300m generated by assets , which i would presume to be the income from production 2019 and maybe part of 2020 .
As i understand the proposal .

PMO Positives if deal is approved :

Total cost 18k production : $300m +- ( 210+115 -27 )

Reserves 82mmboe .

UK tax regime supportive low cost net per barrel .

Negatives

Possible dilution of 100% to fund $300m with Equity and as already stated the Pi's will take the pain again .

ARCM Rewarded for their illegal activities .

Other ii will require further concessions due to ARCM deal .

Questions
1. If deal is agreed date BP production reverts to PMO ?
2. Are there any Hedges on 2020 BP production ?
3. Where does this leave the Tolmount deal ?

With the AGM finished , over to the Good Dr T for the next 12 month strategy he needs to jump start the patient's pace maker as we look gravely ill .
On a happier note ........ a 100% increase on this price will be a start . The company need to grow a pair and kick out the Jellyfish , take some calculated risks .

Zama determination official ....... This week .
ARCM Court Appeal thrown out....... This week
Brent $38 STABLE ......... This week .
ARCM forced to close short ....... This week
Mexico Assets traded for BP deal . Next week
Now that would be a GOOD week .

Well put Malrees . As L.T.H myself , L8 is the way to go in...... 2020 preferably .