What a day !!15 Oct 2021 05:45
Starts with a very positive and likeable RNS, folk are happy and SP rises to later slip (not a bad thing and expected).
Brent Oil up to $84.959 have breached $85
Positivity on the board
There are sections that I will refresh cos I liked them and they are worthy of a repeat. I will not name people today but thank you to all.
1.
'For once, price of oil is giving us a helping hand (currently over $84 once again):
- for the first half of 2021, HUR realised a poo of $62.2/bbl
- for our August 2021 lifting, HUR realised $33m/505k = $65.35/bbl
- for our latest (October 2021) lifting, HUR should realise at least c.$75/bbl(IMO). So, 530k @ c.$75/bbl = c.$39.75m.
Given that most of the cash operating costs will have already been paid on 30th September 2021 (when HUR's cash stood at c.$73m), when HUR gets paid for their last lifting, HUR's cash should exceed $100m once again.
And HUR's next lifting is only 6 weeks away .... bringing in more free cash for the bondholders' settlement'
2.
"Hurricane Energy is now clearly on the path to recovery (especially from the Ex-BoD crooks!), upside potential here by far outweighs any downside risks at these valuations, and hence HUR’s true market cap rally towards more realistic levels is only about to commence along with that of Brent"
3.
“HUR assets alone are currently worth significantly more than a 14-16p valuation as absolute bare minimum here, and if any early takeover/bid, it will have to be at least ~14p+ at this very moment (and likely lot higher from next year) in order to have any chance of success but nevertheless, even at 14p+ bid valuations here, many LTHs may unfortunately still be sitting on some hefty losses”
A number of questions remain as I have previously posted but i will leave them for now .
I see another attack on 5p and the barrier will be broken down sooner rather than later.
More news to come soon
GLA