Member Info for haggis_trap

Laggan deal complete, that explains the step up last week
Great news & good luck all.

Never met him in the real world : but swapped several messages and emails with @adoubleuk. A real character. Never afraid to speak his mind, but never crossed a line in doing so.

More than anyone he would be delighted to see the bond repaid and that the "comeback" is on.

RIP pal.

absolutely relentless buying today....

^ end of july. if market is sane that should see share price tick up ?

Todays market cap = £125 million.
Likely cash in bank (after bonds repaid) = £ 90 million.

Company is generating £20 million / month profit....
Despite problems with Lancaster it is forecast to produce for another 16 months.

Do the maths and hold strong, Something doesnt add up.

Completing the TOTAL deal will likely be dependent on Sunaks windfall tax : the fine details of which are due to be announced this week.

Good post,

I agree there are 3 obvious catalysts in next few months.
Hence reason I re-invested:
- bonds finally repaid
- windfall tax may not impact small-medium producers
- possible take over or M&A(once issues above resolved)

Lots of positives here.
Just a shame board reluctant to promote future prospects.

It's astonishing there is not a single interview with Marris.
Especially now the corner has been turned and prospects allegedly look good!

The current board never wanted to run oil company. Rather they were brought in for a controlled wind down. Marris needs to start earning his salary

If the board can't promote company then are they right people for the job?

Prior to the failed restructuring Phil Corbett (remember him!) was all to happy to pick up phone and talk down future prospects for company to PIs. Coincidentally he took gardening leave during the court case and resigned from role of investor relations shortly after.

The balance sheet and cash flow for HUR looks brilliant. So why aren't the board shouting about future prospects to the market now corner has been turned?

Two obvious questions:

1) there is not a single investor interview online with Anthony Marris.
2) none of the board have bought shares with their own money.

^ smart observation. One risk is certainly Crystal Amber selling their 30% holding prematurely because their fund is being wound up. The would completely trash share price.

^ Thank you gents...
From a long term holder who first invested in Hurricane in 2014.

For sure - Lancaster never performed. Ever since Trice left the company something hasn't smelt right. Private Investors were robbed of their investment by some dodgy back ground dealings. Marris and his cohorts (Phil Corbett - ex-head of investor relations) need to hang their head in shame given what happened on their watch and subsequent events.

True value of this company should surely be nearer 20p than 5p.
Time will tell.

Surprising result.

Hopefully CA, with seat on board, know what is going on in back ground:
- wait for details of windfall tax before announcing plans?
- wait to finally pay off bonds?
- possible take over or M&A incoming

All of those likely short term catalyst for share price

Presentation appears deliberately vague and wooly to my eyes. Let me add thanks to @senseman et al who took opportunity to look board in the eyes.

Clearly an 8-well, or m&a acquisition, on top of growing cash pile, could be transformational for share price. Potentially there are couple of reasons board might be hedging bets on future plans for now:

1) wait for confirmation of details on windfall tax
2) wait for bonds to be finally paid off
3) potential take over in back ground

All of these will come to a head in next 2 months (and might be interlinked). Hold onto your hat, though hopefully this is heading north...

^ if Mr Marris wishes to improve his reputation then perhaps some online investor interviews about future plans would be appreciated?

> £400k for a CEO's salary is quite low.

Perhaps his real bonus was going to come from after giving the company away to bond holders ?
Never before has a company been so embarrassed by a financial turn around.

Funny business...
Anthony Marris draws an eye watering salary of 400K per year.
There is not a single video of him online talking about Hurricane Energy.

Can anyone think of any other oil company where the board are so shy ?

Strong work, thank you

Good summary....
In simple terms there are variations on two questions
1) how much cash by year end?
2) what do HUR plan to do with it?

However : I agree the most basic question that really must be addressed is:

3) can shareholders trust HUR board following failed restructuring ?

What do the board predict cash in bank could be by end of 2022?