Member Info for IAmNotAnAnalyst

The asset, if further proved up, will be worth much more to other companies. Therefore it will be optimal to sell WN and invest the capital elsewhere and profile share with shareholders. That was always the plan with this company. I'd be highly worried if they planned to develop as the MCap is easy too low in relation to the development costs... Also, at the current run rate it would end up being many years late.

For a HUR paid for Edison report it makes for pretty depressing reading. I'm not sure what kind of 'mitigation' rabbit they can pull out the hat when it looks like there just isn't that much oil to get out.

If they do drill another producing well then they really need to move quick, delay too long and the refinancing of the bond will be on increasingly worse terms.

Yep, all done. Thanks for the good times RRE, I hope I'll find more like you.

I sold out at 18.44. Good luck all and take care.

It would be nice if they were negotiating on an acceptable price! We will see.

TXP seems interesting, they've done very well this year. That's usually the kind of thing that make me think I've missed the boat. I do remember looking at them in the past though and I think at that point I was worried about the low market cap = too much volatility.

All green boxes except your message Ghengis...must be a slow news day.

I shall check out TXP and see how I feel. RRE have been my best investment and unfortunately there were a few serious duds, so I'm feeling a bit burned by the whole experience and a little too involved in energy. Although I do believe gas and oil, to a shorter term extent, have a strong future. It's one of those moments where investment goes away to soon because of the social context rather than the reality of societies needs.

Shouldn't we have seen some results by now?!

I think there's a significant gap between delisting and actual payment to shareholders.

If it passes I'm hoping I can sell mine before delisting.

Wow Dana, and here's me sitting here like an idiot. I need you managing my meagre funds.

Those documents are quite incomprehensible even if you reread them multiple times so I can understand some misunderstanding.

I shall watch the RNSs roll out on Monday with interest. And if the vote does pass will be trying to sell my shares asap...I think totally worth the wager too (not the spread bet one though).

Hasn't it already been posted numerous times that the bonds can only be purchased by HUR at par. Otherwise there'd be a perverse incentive for them to make it seem like they can't pay the bonds and then sweep them up on the cheap - any bondholder would want to be protected against this.

That doesn't mention about a meeting today. What it says is I think you have to nominate a proxy or vote in advance by 11 today.

I was hoping they'd already had the conversations with major holders to understand if they'd support the offer. But either they have the answer they want, and the vote will be successful, or they just accept they may lose then give it another go.

PoO and gas had increased a fair bit since the bid so I'd think on that basis those shareholders who were favourable may have modified their calculations a bit and demand more.

Not long to wait now though.

Looks like you're right...I was thinking maybe the only potential bid increase would be if they don't get the vote won on Monday. Then they'd have to go away and increase the bid, or call the whole thing off.

Not sure about selling before the vote. I had the impression you could still sell until the end of the day of the vote at least, as typically the agreement to delist isn't implemented immediately. I'm far from an expert though so it's well worth reading the documents on the website.

I hope so!

Equally, it might be as dull as the last few. Some taking long CFDs and Barclays doing god knows what trading a handful of shares here and there.

I would hope it's still on the table AK. I'm guessing aligned to some oil price hedges it might be compelling.

It is also strange that the RNS had 2 independent pieces of news. Which one was it that drove the issuing of information today rather than any other day (say when we're back online, or when we can confirm if the September shutdown is still needed). Very strange. I hoped the PR disaster was over but it seems like more of the same.

That sounds almost impossible. You might be able to infer the water in surrounding parts of the fracture, but I doubt you'd be able to project far out from where the drill is. After all, the water reservoir could be anywhere nearby and doesn't have to be intercepted by the drill itself.

Swag, even if you are correct the market would require proof of this version 2.0 HUR model/plan which will be some time away.

Slift, I don't understand why people think you're a paid ramper. If anything it just highlights to me those who are unwaveringly positive or have questionable motives.

Yes - I agree. Basically, we'll know about HUR's direction of travel long before these oil supply/demand forecasts will come to fruition.

I agree water cut in and of itself isn't so much an issue. I guess it's just if it turns out 60% of the reservoir is water then that gives a bad return rate on future drills...and an increase OPEX/reduced income to actually fund them all. I'm very nervous about the downside here and I'd have thought all of it is baked into a 6p share price, but unfortunately it isn't.

Thank you also Modestus for the link. I read the document, although tuned out a bit when they spoke about gold and copper...

It reflects my own thoughts except they are more bullish that I.

I think it's yet to be proven exactly what the reduced oil/product consumption has been in Q2.

Also, they are quite rosey about the recovery which considering the more recent lockdowns/travel restrictions may be a bit optimistic also.

Finally, I generally agree with their forecasts on shale production, mostly based in the links posted here (maybe this board maybe another) to the frac spread analysis (which is more key than drill rigs). Shale was looking very tired in Jan, now it's really going to struggle. Looking at some shale Q2 results shows some have negative cash provided by operating activities (which is before a lot of other costs have been taken off)!

A very interesting report, so thanks again. I recommended it over on another board here.

Slift, the Goering & Rozencwajg commentary "On the verge of an energy crisis" makes for an interesting read regarding forecasting the drawdown. They're more bullish than I am but not by much.
Not that it matters too much with HUR, it's all about the model updates and water cut in the short term here.

Where's that from Kraken? Is that an EIA update?