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Company treating pi's with contempt by not offering explanation

Good luck calling investor relations ....

It seems Crystal Amber want to sell the lot for 5p and shaft PIs ?
There might be lots of oil however company seems to have issues of governance.
I smell a rat.

why would kerogen selling to CA for 3p knowing company will soon be sold for 5/6p ?
you are not being told the truth.
something stinks and the board no longer acting in share holders interests.

Another PR disaster for HUR.
Yet again directors resign. Once more without credible explanation to share holders or private investors. One can only conclude the company is lacking corporate governance and rotten to the core?

pm Craig David ;-) he knows when the deals dropping

They have enough cash to carry on for another 8 years! So there is no rush. I would rather they took their time and got it right rather than buy an old junk yard in the north sea with massive decommissioning cost.

For comparison it took RRE 12 months to find the first deal.

^ I thought it was an excellent RNS.
Lots of detail about the business strategy, thinking and future aspirations.
Much more information than I expected and very much appreciated.
Some compelling reasons to invest.

Patience here is key.
Oddly the global uncertainty likely works in favor of those looking to purchase producing assets?

https://longboatenergy.com/wp-content/uploads/2020/09/Longboat-Results-RNS-Combined-Doc.pdf

exactly :

- entire global economy addicted to oil.
- whilst covid is bad news there wont be a second lock down
- BP is a well run company that is not about to go bust.

In 6-12 months time people will look back amazed you could buy BP for 230p
No one likes a paper loss - however patience is key. Market has over-reacted.

Fascinating if Dr Trice has sold ...
Not sure how to read that news given how much he knows about the reservoir and inside story...
Not necessarily a good thing *if* he has choose to sell at 3p.
Perhaps he was obliged to off load 27-million shares ?
Maybe he is now free to speak outside of NDA about what has really happened.....

Having been a Hurricane share holder since 2014 I am now out - but watching developments with interest.
Good luck to all who remain "in".

Nice to see a chunky buy.
Funny that 30k can shift the share price 5%.
Not many shares in issue, and even fewer being traded!

^ yes : BP seems cheap!
basically at historically lows.
though over next 3-5 years I see oil back at $100 a barrel.

I am at £2.65 average.
Confident that BP is undersold and will eventually be worth > 350/400p.
The only question is timing. World is very uncertain right now...
Recovery could happen by Nov (if Q3 results good) or it could be middle of 2021 (covid vaccine)

The silence is disconcerting for private investors. However I honestly believe it's a case of "no news is good news". Would rather they took time and got it right. My feeling is current low oil price environment will open some interesting opportunities if finance can be arranged. Longer term (post covid) I see oil price rebounding over next 3-5 years.

Patience required...

2018: Dyas and Arran

2018 was a big year for the company, with two substantial acquisitions.
First, a deal to acquire a package of non-operated producing assets from the Dyas group of companies for €107m. This transaction added 6,000 boepd to group output, taking the total to over 10,000 boepd. Some 13 million barrels of oil equivalent (mmboe) of 1P reserves (proven reserves with at least a 90% chance of being profitably recoverable) were also added. On 8 August 2018, RockRose acquired a 20.43% interest in the Arran field development for a nominal amount. This development brought another 8.6 mmboe of 2P reserves (proven and probable reserves). It is operated by Shell and due onstream in the first half of 2021, at which point it should produce 5,200 boepd of initial net production.

2019: Marathon
This M&A momentum continued into 2019 with the transformational purchase of Marathon Oil UK. Rockrose paid $95m but Marathon had some $250m in the bank. The reverse takeover doubled Rockrose’s production (again) to over 20,000 boepd and brought net 2P reserves up to 63 MMboe.

Full article can be found on stockpedia.
What I found interesting is the timeline. Also the way they used existing production as leverage for future deals.
Good luck all!

While we wait.....
Here is a history of Rock Rose Energy. Interestingly it took them over a year to do their first deal.
But then the share price rocketed from 50p to £18. If LBE was half as successful we would all be delighted.

2015: incorporation
RockRose Energy is established as an acquisition vehicle to identify onshore and offshore production opportunities and infrastructure projects.

2016: listing
On 13 January 2016 Rockrose began trading on the London Stock Exchange, raising £4.4m before expenses at 50p per share. The team looked at more than 35 opportunities with a focus on “mature cash producing assets in politically stable geographies, particularly in the UK.”

2017: Egerton, Sojitz and Idemitsu
The group agreed to acquire Egerton Energy Ventures for £1m in March, before raising £8m at 150p in July. A month later, Rockrose acquired Sojitz Energy for £2.5m. Later in the year, the group made its biggest acquisition so far: Idemitsu UK for £29.7m. Following these acquisitions, RockRose had a projected 5,250 barrels of oil equivalent per day (boepd) of production in 2018.The production and cash flow provided by these deals created a solid platform for further expansion.

Results were only up until H1 (end June).
So only really one quarter post-covid

Having sold some HUR to buy LBE i would be mighty amused if true :-)
Seems improbable to me..... Did Craig David tell you ? ;-)
Don't believe everything written on inter-web.

FWIW : While I have opinions on HUR (.... see Lemonfool) It actually doesn't matter who LBE buy so long as terms of the RTO are acceptable to existing share holders. If you don't like deal then sell at the new-IPO price, whatever that might be.

Patience...

^ interim results rather than AGM! 22nd September....