Member Info for haggis_trap

I think anyone taking Crsytal Ambers 30% stake will quickly make a move on the entire company.
The reason CA held such figure is because it is just below threshold required for a mandatory takeover.
Thus allowing them to hold Marris firmly by the balls.

Apology for poor spelling above.
No excuse, but on phone!
Would edit if I could

Apology for poor spelling above.
No excuse, but on phone!
Would edit if I could

So a teflon "none stick" reply to the questions below. Posted here for the benefit of others who has also provided thoughts and comments. If emailing the HUR management team then keep it polite and straightforward.

I am still holding in hope of a takeover / sale.
Good luck all, you deserve it.
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Q1) Will the management be "showing face" and doing video interviews (with Malcy / Proactive investors or similar).
Now debt it has been repaid it is time for management to promote the company and its future prospects

In terms of press coverage, we are work closing with our communications company regarding possible interactions with the various press outlets. Please note however that we have no control over what/when they report or print or choose to interview.

Q2) Will the economy be employing a new head of investor relations in future ?
I note that they could justify employing one to answer difficult questions prior to the restructuring when companies financial future was in jeopardy. So why not employ a replacement now future prospects look brighter?

The Company continuously looks at its staffing levels and future staffing requirements. At this time the Board are considering future plans and any consequential impacts on staffing requirements, and the lead times to bring in new senior team members.

Q3) When will the senior management be buying stock in significant volume? This has been promised in the past but never delivered. Until management interest is visibly aligned with shareholders then suspicion of their motivations will remain.

As was stated at the AGM, the Company is looking to put in place a revised renumeration policy, that will include a more aligned share scheme. It is hoped that this will be in place soon to allow senior management to review share acquisition. Please remember though that the senior management are often party to inside information that prevents them from purchasing on the open market.

If this is a clue from Crystal Amber it's an astonishing nod and wink:

" Fund expects to provide an update shortly on additional shareholder returns based on the Investment Manager's and the Board's assessment of the status and timing of anticipated corporate transactions.

The Fund notes that Hurricane Energy plc ("Hurricane") has reported that at 31 July 2022, it held net cash of $89 million. At current exchange rates, this is equivalent to £82 million. Crystal Amber holds 28.9 per cent of Hurricane's issued share capital"

If HUR not being prepared for imminent sale then the faceless Maris needs to go.
Can anyone find a single interview with him on online?

Questions for the senior management following last weeks RNS (as sent via email)

Q1) Will the management be "showing face" and doing video interviews (with Malcy / Proactive investors or similar).
Now debt it has been repaid it is time for management to promote the company and its future prospects

Q2) Will the economy be employing a new head of investor relations in future ?
I note that they could justify employing one to answer difficult questions prior to the restructuring when companies financial future was in jeopardy. So why not employ a replacement now future prospects look brighter?

Q3) When will the senior management be buying stock in significant volume? This has been promised in the past but never delivered. Until management interest is visibly aligned with shareholders then suspicion of their motivations will remain.

The company is now debt free. Time for management to deliver the value it has promised share holders.
Is there someone at the company who will be willing to take a phone call and address these concerns ?

Merge both companies... Use Hurricanes cash pile to develop Parkmeads assets.
Suddenly you have viable mid cap North Sea oiler with mix of existing production and future assets.

Perfect opportunity for both parties...

> PMG is the company HUR should target

Perfect fit... Market cap of £54 million.
Could take them over with cash in bank and boost the share price of both companies if deal structured properly.

A merger with Longboat Energy would make perfect sense.

LBE have some exciting Norwegian exploration prospects but no existing production or cash in bank. HUR have production and cash in bank but no future potential / plan.

Combining the two companies would reduce risk for both parties and create opportunities going forward.

On reflection : I think this latest RNS might be preparing decks for a sale?
i.e we tried p8 but regulator said no. Therefore best option is to let someone come in with takeover.

So lack of flaring consent, rather than economic viability, means no P8.
Fair enough.

There are lots of positives:
- Based on current forecasts we expect production for 2022 to be towards the upper end of our guidance range.
- The Company has and continues to evaluate a number of farm in opportunities, acquisitions and mergers.
- The field is expected to remain highly cash generative into 2024 at current commodity prices
- We will continue to look for both asset and corporate level opportunities
- Hurricane is well placed for a successful future.

From the crystal amber rns
"During the period, the Company engaged with management regarding the utilisation of tax losses. In its 2021 results, Hurricane disclosed that it had $382 million of ring-fenced trading losses at group level and other allowances and supplementary charge losses and investment allowances of $693 million, which have no expiry date and would be available for offset against future trading profits. Additionally, it had $328 million of capital allowances available against future ring-fenced trading profits. It commented that the estimated value of these losses and allowances at prevailing tax rates, including the Group's pre-trading expenditure, future decommissioning costs and non-ring-fenced losses, is $410 million. In the event of a corporate transaction, the Company believes that the benefit arising to Hurricane's shareholders could be very substantial."

Perhaps. If there is no sniff of a forward plan tomorrow then investors need to hold the boards feet to the fire.

When pressed for forward plan comms@hurricane promised news by "end of September". Tomorrow (Friday) is last day of the month. Therefore there should be news tomorrow.

So : let's be seeing what Marris has done to earn that 400k salary. Investors have been patient. Time for board to make their plan known. $90+ million in the bank.

definite shift in the share price...
as you might expect just before a take-over ?
finger crossed for all LTH.

comms@hurricane assured me of news / forward plan by end of month.

Let's sit tight and hold them to that.

comms@hurricane assured me via email there will be news by "end of month" (September). £80 million cash in bank. If company not being sold them a forward plan is essential. Good luck all - anyone invested here deserves it

Drop is because EU proposing a fixed cap on gas prices.
Likely that might be a pragamtic solution to energy crisis (if they can make it work).
Either way Kistos will still be making a lot of money every month.

^ For all Dr Trices faults he had a vision and didn't try to give the company away for free to bond holders.