The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
^ brexit exposed the real fanatics / nationalists
^ translation : you don't respect Scottish democracy.
SNP have won every single election in Scotland since 2007. Holyrood, Westminster, EU and council. Anyone under 30 in Scotland knows nothing else...
If they were really that bad we could simply vote then out. Why hasnt that happened? Braying Brit-nats are two a penny (hence reason the UK finds itself stuck in such a big brexit hole).
^ while I personally disagree with sturgeon on this issue
1) oil & gas is not devolved
2) none of you have a Scottish vote, nor a clue about Scottish politics
Brexit has made independence almost certain longer term.
Can someone ask Maris two questions:
q1) why, having happily trashed company during restructuring, does he expect a premium now?
q2) why has he never done online interview to promote prospects
He needs to get sold now, or GTF.
I called Phil Corbett (ex-head of investor relations) on his new mobile number. As soon as I even mentioned Hurricane Energy he panicked and hung up.
The man is a lying rat and was implicit in the restructuring scam.
**** Maris & Chafe. No courtesy 7am RNS.
They are flicking Vs at all investors
p.s no courtesy RNS this morning will demonstrate the contempt that Maris has for those invested and LTH
Some excellent posts above. If someone is going to take over HUR at fair value (for both parties) then it needs to be sooner, rather than later
1) any tax credits dependent on limited shelf life of existing wells.
2) as time progresses the market cap of HUR will trend towards cash in bank
The reason a small player like kistos can buy these assets is because production was known to be in decline. If they had 10-20 years production left why would anyone sell them? An identical strategy, of buying unloved assets and polishing them up, was highly successful for Rock Rose.
On purely price to earnings ratio Kistos still looks cheap compared to other oil & gas producers. The question for investors is if you trust Andrew Austin to keep delivering future deals to maintain the bottom line.
Time for Maris to deliver. If he can't get this sold then he has nothing else to offer and needs to move on....
Good luck to any long suffering LTH who get that joke...
Ultimately anyone purchasing company won't pay full value (as they need to make a profit on transaction themselves). However I also agree 12p would be a fair price for both sides.
Most take overs occur at ~40% premium.
Wouldn't want to be out of this for the weekend!
For first time in years....
As I see it : if the board don't get company sold by 7th Jan then Marris etc will soon be gone. Will be an interesting week ahead. End game appeoaching. Though with closing date on a Saturday don't expect news until next week...
P.s anyone who thinks crystal amber are the messiah should look at their 5 year share price. They were are as dumb as us all for investing in this goat rodeo in 2014
10p = cheap
13p = fair value for both parties
15p = yes please
..
30p= management that gave a **** and fair wind/lucky drill.
Good scenario would be Kistos. Take over at 12p / equity swap with future potential
I am hopeful a sale is coming:
1) debt free
2) significant cash in bank (and growing)
3) small number of employees
4) decommissioning costs ring fenced
5) geological risks well and truly sand bagged
6) 8000 bopd
7) historic losses which can be offset against tax
I agree the price will be painful for LTH however hopefully it provides a clean break for all.
Maris has no interest in running an oil company - therefore get it sold!
Sit tight....
I remain hopeful the current board will negotiate a sale by 7th January.
Which would draw a line under things for most and put us all out of misery.
Everything points towards a sale:
1) Current board clearly don't want to invest in P8.
2) All decommissioning costs etc have been ring fenced
3) Closing date of 7th Jan 2023 has been set
4) General meeting has been rescheduled until Jan 11th 2023.
5) HUR is debt free and simple take over
6) Windfall tax makes the tax credits attractive to the right person.
7) All the bad geological news has long since been sand bagged.
Who knows what Crystal Amber are upto with their latest scheme.
Trying to smoke out an offer ?
Or perhaps trying to secure a take over for Albion Energy without acquiring the full capital?
Hopefully it is irrelevant come Jan 7th when any bids are revealed ...
@Orbilune. Exactly: if no decent bid forthcoming by Jan 7th then Marris and friends need to be hung drawn and quartered.
I believe CA have fired shot across their now to this effect.
Spent some time thinking about yesterday's RNS from CA. As many have mentioned it is a slightly odd plan (in terms of timing, investing £250 million and CA prior objective of monetising quickly). However it does offer a path to future growth. We invested in an oil company ? At time of $100 oil...
Marris on other hand offers zero positive future vision. Never done a single interview online .... If HUR board have no aspirations to run an oil company, beyond passive caretakers, then it is in everyone's interest they get it sold.
Which brings be back to CA/Albion proposal. Ultimately it gives them control of company without a formal take over. Likely because they don't have the capital to pay 12-15p+ a share? That is not to say they don't have something to offer : but it is not capital up front which provides a short term exit for investors. Rather it is hope that future drilling might (in 2-3 years time!) pay off.
Hopefully come January 7th credible bids are received and Hurricane is sold. In which case everyone can draw line under the sorry affair and walk away. If not then we can talk about getting rid of Marris and alternative options...
Interesting reply from HUR.
The interesting part / new information is that formal bids to be accepted by 7th JAN.
Looks like we are very much into the end game.
If I had to guess HUR will likely be sold by end of January.
Hopefully for a decent premium to current price.
CA appear to be playing some kind of game to smoke out credible offers?