Member Info for Jacdaniels

This is very sad news.
I hope he passed away peacefully.
He was clearly a major part of HUR.
My worry there may be more to this and I cant be the only one thinking this. I certainly hope there isn't though. But with the disasterous performance with failure after failure The potential for HUR to go into administration if they cannot repay the bonds. Trice being kicked out for clearly becoming a liability or misleading us all. Did the pressure and worry get to him resulting in a sad end?
Again I hope this wasn't the case for him and selfishly for us investors otherwise this is just another sign that HUR is becoming worthless.
Condolences to his family and friends.

60p to 6p and yet trices reputation is being defended?
I hope trice is proved right as the sp will rise. However, with the current sp, it means the market, the hur bod and edison clearly think he is either wrong or has overstated drastically the opportunities.

Edison paid for by HUR.
Previous report was when Trice was in charge.
If they are raising such concerns in this new report then I assume they have been pointed in that direction by the new people in charge.
As one of my previous posts said, it looks like we need a miracle. Hoping our 1 Well performs and oil price goes up to save us or a white knight, which is highly unlikely with al the bad news and our distressed state. We can be picked up for peanuts. I recently said takeover coming as well which was simply a hope and a prayer.
I hope Trice gets his comeuppance for leading us all astray.
60p to 6p in 12 months is criminal and all down to that snake oil salesman Trice.

We may as well pump oil as hard as we can as with the sp so low we have little to lose now. We need cash to either pay off the CBs are to be able to get a decent refinance deal by showing we are a viable company.
Trice has in 12 months destroyed hur and deserved to go.
The SP is king and the major invsstors must be spitting blood at the last 12 months sp destruction . I certainly am.
I am furious that Trice has got away with his claims. He was the competent person for signing off the RNS s but it now seems that the he was incompetent as the last RNS mentions the owc will be looked at as it may not be as good as Trice claimed.
If the water cut grows on Well 6 we will have a long and painful death as we pump less oil.
We may as well also get another Well drilled on Lancaster as you neede to speculate to accumulate. Again we have nothing to lose as the cost of 1 new Well will not save us by being in the bank but a successful Well will.
Here's hoping for a miracle.

Could be a low ball bid coming over the weekend imo

I said recently trice was a snake oil salesman, due to how the SP has tanked over the last 12 months, and now hur have agreed. Trice has let down us LTHs and should be in jail for the way his actions have trashed the SP.
We now have to hope for a half decent take over of 30p if we are lucky when I am sure we could have got 60p plus over 12 months ago if it wasn't for Trice.
With the RNS talking about reducing the owc, which means reducing reserves, and Well 6 now having 8% WC when it had minimal originally, shows Trice has at best been economical with the truth.
Disgraceful behaviour by Trice.

The sp has been wrecked over the last 12 months.
The whole story has just disintegrated with bad news after news, Warwick wells, Kerogen selling shares, water cut, well interference, OGA refusing Lincoln tie back.
We have more Directors than ever before yet we are almost 1/10th of what we were.
Even the pie in the sky broker forecasts are as low as 16p.
The directors are paying themselves massive salaries and bonuses for failure while us LTH lose money.
AGM supported all the directors. Unbelievable!
Trice is a snake oil salesman as proved by the SP.
We have to hope for pure luck now and that our 1 good Well saves us and hur start making some good decisions like another producer on Lancaster. Otherwise we will remain at this low sp.

Trice should be locked up for this complete debacle. It is clear that unless hur drill another Well on Lancaster this year then the SP is not going to improve significantly if at all.
Too not have a plan in place, when hur has available funds, shows they have no faith in Lancaster.

We are not a 40k bopd producer, only 10k at the moment, may get to 15k on well 6, maybe more?
If we were doing 40k bopd then i would have no issues as the SP would be flying, sadly it isn't hence the point of my original post!

Also $230m in convi bonds is not hardly any debt, it is a huge debt!

Bfath, they only have about $70m after commitments and that was at 20bopd with a certain oil price , which I cant remember .
With bonds repayable around July 2022 we seem to be in the brown stuff unless water/well issues get resolved.

So much for the potential of 40k bopd let alone just 20k bopd.
How on earth are we going to pay off the the $230m of convi bonds? This is now not going to be possible with our spending commitments and the oil price.
We need a miracle or we will all be wiped out with the bond holders either taking over the company or renogiated terms practically wiping us out?!
Unless anyone has any bright ideas or more info ?

I have been perplexed why the OGA would not allow the LC tie back, like many other posters.
I got this answer from hurricomms :

' Regarding Lincoln Crestal, we have provided regular updates on the status of the well since it was drilled. The announcement on 13 December 2019 outlined the requirement to drill a commitment well and that this would be followed by a field determination being made. This indicates that it has not been possible to use the 2016 Lincoln well as a basis for a field determination. As a field determination is required prior to development activity taking place, obtaining one is a precursor to tying back Lincoln Crestal.'

Unfortunately still doesn't answer why delaying the P and A cant be agreed by the OGA until the result of the commitment Well is known. Surely the OGA can see common sense in allowing a delay ?

Have a listen to the q and a very interesting

Looks like I misread the webcast presentation, sorry about that.

Not looking great financially after spending commitments this year unless oil price increases

HUR Directors are letting investors down.
Where is the quarterly update? What else are they doing?
Why has Trice not given the CMD presentations via YouTube for example. It is very easy. Or at least advertised a future date for an online presentation to build up enthusiasm and excitement. Request for questions could be made so answers could be given at the end of the presentation. Nothing else is going on so it would get a lot of attention.
All of the above could be accomplished within lockdown rules.
If we have a good story to tell get if out their followed up by press interviews.
Starting to wonder if HUR actually have any idea of how to market themselves or actually have good news. Look at the share price devestation which happened before the oil price collapse and covid19 rearing its ugly head.
The Directors have shown themselves to be clueless in telling HURs story to the market and has only resulted in one being removed and the appallingly low share price. They should be ashamed.

Is it possible that with the potential for the OGA relaxing the HUR licencing requirements that HUR may end up profiting from this unprecedented situation.
I certainly hope so as us LTHs are due some luck .
Stay save all.

Knowing our luck no, and maybe a reason that idiot stobie has gone.

I agree but I fear that our Directors will not agree to such an obvious use of money. I have lost faith in the Directors, including Trice, that have clearly mismanaged HUR as proven by the destroyed share price.
Just hoping for a takeover or farm out to save this dire situation.