Member Info for haggis_trap

^ holiday or gardening leave?
Convenient time to be unavailable for comment.

Phil Corbett repeatedly lied to me on phone. Always refused to put answers in writting

1) assured me 7z shut in was nothing to do with reservoir performance
2) told me last autumn there were "no plans" for dilution. We now know restructuring work was well under way.

Unsurprisingly his phone now going direct to voice mail. The new board must kick him out as matter of priority if trust to be regained.

@JockJoy.

That is entirely correct and relevant. The week after the kitchen sinking was delivered Dr Alan Parsley (Kerogens nominated director) resigned his seat on the board. Subsequently Anthony Marris was put in place with Phil Corbett taking over head of investor relations. Phil Corbetts role was clearly to fob off difficult questions while the restructuring took place. I may make sure no stone is un-turned in removing him from office as he was implicit in the SCAM.

It should be remembered that Parsley was appointed to the board in June 2020 following Trices resignation.
i.e Kerogen Capital played a major role in removing Trice and commissioning of the technical report.
https://www.oedigital.com/news/481880-hurricane-energy-s-non-exec-director-parsley-resigns

Phil Corbett (investor relations) was appointed at the exact same time Marris took over. As mouth piece of the scam it is absolutely essential he is removed. He lied to me several times on phone - even claiming last autumn there were "no plans for dilution" when history tells us the board had already commited $17million to restructuring. An absolute weasel of a man

Bribery? The corrupt board of Hurricane were openly insentivised to complete restructuring

Has Phil Corbett also resigned? The head of "investor relations" was mouth piece of the scam and also must walk with the disgraced board if the swamp is to be drained

Excitement will rise as autumn approaches. The extra shares in issue should also make this more liquid.
Some very simple maths:

- Chasing 100 million barrels over x7 drills.
- Geological chance of success listed as ~30% per drill (but is double that for Norway in recent years).
- So would expect them to find ~30 million barrels. As $4 / barrel that would give market cap of approx £120 million.
- Current market cap is £30 million.

An early strike to shore up the share price would be good....
Nothing is guaranteed and this remains risky investment but with large potential upside.

^ A court of law has refused their request to hand company over to bondholder.
Yet still they have brass-neck to remain in office.
If there is "no value" in this company then why do these parasites remains in office ?
The only honorable way out is to resign.

Phil Corbett reads this board daily. Phoned me up within 15mins of a post I made last autumn (about possible dilution / 7z shut in) demanding it be removed. The board of this company are rotten to the core.

Also : this caught my eye

"As regards the value creation, the initial wells will test net mean unrisked resource volumes of 104mmboe with upside and follow-on potential of 147 mmboe net unrisked resources and with success there is potential for very significant value potential. In Norway in recent years, discoveries have traded in average at around 4 $/boe, which gives a good indication of the value creation potential in this portfolio."

i.e large potential upside compared to current market cap of £30 million.

Q&A now posted online...
Worth a look - if nothing else they have been open in answering the questions often posed here.

https://www.investormeetcompany.com/investor/meeting/general-meeting-6#meeting-qa1342

Hi guys,

This is Phil Corbetts (HUR head of investor relations) company phone number.

07341 435 094

Its currently routed to voice-mail.
However I just left him a note congratulating him on excellent result for the share-holders.
I also sent him an SMS just to be sure the message got through.
Perhaps others might like to do the same.
Keep it polite ;-)

"It is the Company's understanding that, in the event all of the Executive Directors are removed from the Board, the Company's Nominated Adviser is likely to resign with immediate effect. This is likely to have the result that the shares of the Company are suspended from trading and, if a replacement Nominated Adviser is not in place within a period of one month, it may result in the shares of the Company being de-listed from AIM. "

If... if... if....
Wow, The HUR board continue to fight dirty.
Of course there is no reason a competent replacement board couldn't find a new NOMAD.
The most corrupt board on AIM.

Hot air from the board - the only way bond holder can be repaid in full is from continued production from Lancaster.

Good luck all share holders who remain invested. I am confident you will get the result you deserve against this corrupt board tomorrow!

One danger I see here is HUR board / kerogen buying 25/50% of shares on open market in last ditch attempt to take control before 5th July EGM. Despite well documented issues I always suspected share price has been trashed to low levels for a reason?

Current market cap is just £45 million and board have already commited £17 million to restructuring... Makes you wonder why the bondholders don't just make honest bid for company. Watching with interest...

I am trusting that :
1) equinor know what they are doing
2) the institutions which pony-ed up £30mil have done their sums

Future success obviously depends on autumnal drilling campaign. However assuming that is not a blank then it seems likely this is the bottom (or thereabouts)

the recruitment / job adverts are massive clue there is revenue (production) on the way. you don't increase the wage bill like that without means to pay for it.

^ the first 18 months were dull as a dishwater.
however I really don't see why anyone would sell now...
the longboat is finally ready to sail.

as I see it
1) The institutions think this is a good share price to buy in.
2) Equinor are a solid partner with good drilling record.
3) The drilling targets are in 8x different locations with Norwegian tax benefits.
4) Plenty clues there is another production deal to come.

^ it has taken longer than expected but the reasons to invest remain.
management are well incentivised to get the share price to £2 (see RNS below) within a 3 year period.
https://www.lse.co.uk/rns/LBE/founders-incentive-plan-awards-eti542raki865i2.html

You would expect a little PR before the new shares come to market? Also : the recruitment campaign surely means there are plans in progress to add on production (i.e revenue) ?

A little good news should see tick up nicely given limited free float not in institutional hands.