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I haven't had a rant recently so i'll keep it brief. When i look at Hurricane energy share price it actually makes me angry. Genel management are a complete and utter disgrace for this total lack of communication and resulting decline in the share price. When a company that produces nothing, with no FCF, no revenue, less cash, no production is worth twice our market cap it merely demonstrates total incompetence here. But i guess they can talk about a cash balance and opportunities whilst the share price continually underperforms
Hey JL. Confuses me too. Think Genel update should be positive. I tend to be transparent and openly admit i give up with Genel and GKP. Most oilers today going ok like PMO and Hur etc. This and GKP have been total dogs the last 6 months. Just lost patience with Genel and Genel management. Looking to exit remainder if/when i can now. No longer want to be invested and the last year has taught me that. Market in general is tough at moment and do not trust it.
Lol JL, the market can be so weird and fickle! Ophir also makes no sense to me, its kinda like Genel in that if it were valued on assets and/or potential like Hurricane it would be far higher. Potential in E&P is tricky to value. Need a lot of luck in this game.... market just loves or hates certain stocks. Gotta back the right ones. Still firmly believe Genel is getting ignored as people fed up with the lack of information and no news. Potential remains (say that every year mind)
Will soon be twice our market cap. Nearly £1 billion for a non producer with zero revenue/profit. Worlds gone mad. If only our assets were valued at something! Yo Genel BOD any danger of checking in with shareholders and saying we have nice assets, I'd settle for a note just to say hello and that you are doing something value accretive...
Why on earth would the BOD even consider selling at anywhere close to this stupid share price? Given the assets, balance sheet and production/cash flow why would they want to sell? Ignore the takeover and let this re-rate else shareholders are getting stitched up imo
If this was any other share but Ophir it would probably have spiked 125%. This share never fails to disappoint
Expected more of a positive reaction purely based on how beaten down this share was. A lot of value in Ophir but i suppose market will dictate the price. Surely has to be more than 50p
It's a shame a lot of us feel this way. Company are in good shape, best for a long time. Appreciate some of us are perhaps being greedy expecting constant upswings, but with this balance sheet, cash, assets and prospects the share price really is pathetic. There is no denying that. Makes no sense to me how we can be performing as badly as this. Also makes no sense to me why the BOD are so inactive and ineffective allowing such a weak share price and doing nothing about it. Give people a reason to invest
Might as well forget this illusive gas deal Spark. The market is certainly not believing it. Years and years in the making yet not a jot of progress. Maybe its political but unlikely we will find out since Genel keep us in the dark regarding everything let alone the gas.
Certainly overpaid based on last year Bunks imo. Loads of statements of intent, yet executed nothing for shareholders. Outside of Tawke (fully managed and run by DNO fortunately) I don't think we have had any news since April last year. If Murat thinks that silence is going to have a positive effect on the share price and its better than releasing empty updates perhaps he should look at the share price performance, volume of trades and read how shareholders feel about the last 6 months. Or perhaps look how companies like Serica, Regal and RRE are performing when you deliver and communicate.
This has been held down at this daft price for a while.Now we know why. Given time i would have expected this to recover to multiples of the current share price (longer term) so i see this approach as unfortunate
In hindsight it is like the market knew post half year results that this was going nowhere and it was just us dreamers thinking we might be getting some positive news or gas news this year. Even with oil around $85 this was still performing pretty rubbish thinking back to a few months ago. Happy NY all. Hopefully Genel team are well rested after this year sat on the beach or in JL' local boozer doing nothing and will actually do something for shareholders next year
Bl**dy Fortuna is a permanent noose around the neck of this company. Why they did not just write the dam thing off several months ago I have no idea. Share price will just not go anywhere until they clarify what they are doing and management must understand that. Seems silly really as it depresses the share price when prospects are otherwise decent
Uber dog Sound energy with worthless assets, debt and a load of fairy tale stories up 35%. With a totally insane valuation of £240m will probably overtake us soon. Does not even produce anything. Genel really has turned into the biggest pile of junk on the market
Genel has fallen as hard as the likes of PMO and other debt ridden oilers. Do not see why it is not rising with them given the cash balance. At least it is pretty much mission accomplished from the company BOD in totally crushing investor confidence this year. I don't think they appreciate what damage they have done this year tbh. I would not be investing right now nor would i sell. Just looking to get out with the remainder as i have no trust, faith or desire to stay invested in Genel again after how management have treated shareholders this year. The ridiculously low share price, silence and no comms is worrying now. Most other companies - even PMO have at least attempted to look after shareholders and create value for them. For balance, If we had a competent BOD who knew what they were doing I reckon we could be £5 now. So i am not deramping or ramping just saying imo
Sorry Boyobach, you are right its 3.5 years, i thought it was 4.5 years. He is still useless though. Cash pile of maybe closing in on $400m?.... market cap of £436m currently. That is s**t by anyone's standard. I know we often get compared to Shell or BP or PMO or TLW but how can you have a balance sheet like Genel and a share price like this. To me, that highlights just how poor Murat is at delivering shareholder value and what the market think of this company and potential. Cash might soon pass the market cap. So the market is essentially saying the company is worth nothing or less than nothing under his stewardship. If i didn't laugh i would cry because its just pathetic. To think that they do not even feel it necessary to make any statement or provide news for almost 9 months of the year to stop the share price being smashed to pieces either highlights that they do not care about shareholder value or they simply have no response and achieved nothing- hardly justifies their salaries imo. If he just said they cannot achieve anything at least shareholders could take the hit and exit. As is nobody has a clue what is going on with any assets its just waffle and promises/jam tomorrow and has been for 4 years
Simply embarrassing now this share price decline. Maybe there will be a late Christmas present with news of Murat getting the sack. Wishful thinking. What exactly has he delivered since being CEO? No doubt is proud that Genel have outperformed the market the past 12 months, well not anymore. Ignoring the fact that the only reason it rallied was because it got smashed down like 95% to almost nothing/bust under his watch in the first place! Great job. The oil price went up for him and DNO did everything to sort the balance sheet out with Peshkabir. Yet he still cannot get this share price up from a £1. The guy is a waster, Gas is nothing but gas and hot air,has been for years and he has delivered nothing. Absolutely no progress at all. Taq taq delivered nothing. Tawke delivered nothing (sure DNO will help him out) Somaliland delivered nothing. Morocco delivered nothing. Acquisitions delivered nothing, Bina Bawi delivered nothing, Miran delivered nothing. The only thing delivered this year is share awards to himself. In the 5 or so years he has been in the job look at what he has achieved. Am happy to hear opinions to the contrary. The balance sheet we have been gifted from DNO and the oil price rise helped us, and he still manages to shed 50% off the share price in the last 4 months. His job is to maximise value of the entity, including maximizing the share price. Look at the share price now. We are with the possible exception of PMO now the worst performing oil share on the market over the last few months, yet at the same time completely debt free and cash rich. Does nobody else find that in the least bit strange?
Replace him with a strategic thinker, someone who has goals, communicates, new inspiration and ffs someone who will monetize our f**king assets and deliver shareholder value. How low does this have to drop to to get him off his a** and deliver something. Because the market will continue punishing us as he is treating us with contempt now This is no longer about a weak market and oil price anymore. He either starts doing his job or we are going back sub £1 and i have been saying this since March. They have starved this of news for so long now nobody has any belief in the company anymore, me included. How on earth can there be no notable news in this company for 9 months? how???? Heaven forbid we get any positive news this will now just spike and sell off since people are so p*ssed off with how c**p this company is at communicating and delivering and just want out now. This has gone on long enough and I urge other shareholders to speak out if you value your investment as these guys are taking the p*ss out of us now. Go back to Bills video in March and the April update and fast forward to now and tell me you are happy with what this board are doing and have achieved!
You are absolutely right Bunks. The UK market is a total mess right now. Energy stocks are also completely out of favour. Of course Genel have plenty of cash and decent prospects but will just get tarnished with the same brush and trashed with its debt ridden peers. The absolutely dire lack of communication this entire year and no word on progress or any news whatsoever unfortunately leaves us here in a risk off environment. Hope all having a decent Xmas
Understatement Rangor. They are better than this and we should expect better. Much of this drop is attributed to lack of progress imho. They are paid a lot of money and as you say much of the share price increase this year was not even their doing. The share price unravelling is. Never have they had a better opportunity than this year to put Genel on the map and they have fuc88ed it
Can say that again JL. What a joke of a year this has been for Genel. You could argue that this year could- and should have- been completely transformational. And yet this year has been the quietest, dullest year possible with no news on anything whatsoever. No activities, no anything. I used to enjoy the payment rns to break the monotony. They even took those away so we now just have to look at a share price dropping every day for our 'exciting times' (quote from Murat)