Member Info for johnpwh

Happy new year from me too!

I feel overpriiced. There is no knowing when normality will return, this seems a gamble on covid improving sooner ratehr than later. Heard they are trying to renegotiate rents, it will go down very badly with the landlords if that proves unnecessary.
An alternative view may be that the likes of Weatherspoons and M&B, assuming they can ride this out, will end up stronger as many competitors fail (how is The Restaurant Group - they were struggling pre covid).

Ok, markets re-open tomorrow.
I have a reasonable holding in PMG, well into 5 figures. Do I increase or simply sit on what I have? Clearly oils are out of fashion compared to other commodities such as those associated with renewables. Have those already re-valued and due a correction? Is PMG a contrarian play?
And talking about contrarian views, how about airlines and restaurant/ pub groups, maybe commercial property? Tp me these seem like a gamble on whether lockdowns are better or worse than people expect, rather than logical.
Be interested if anyone has views they would like to share.

We will see. Feel fairly comfortable with my holding at an average of 29p.
We all hope that (eventually) Dana can be replicated.
Happy Christmas

Pleased to see the SP progress today. The future certainly seems positive, political risk seems the only question mark - and as I have hypothesised before the involvement of a Chinese company may make that less of a threat.
What I would like to see is a consolidation above 50p which has been attempted and failed a couple of times recently.

I don't think Dr.S's share sale is particularly relevant. He exercised 6m options and sold 5m shares. His actual holding has increased, possibly to ensure he kept the same % holding in the enlarged share capital (have to to admit I haven't done the arithmetic although I obviously could. After consideration I decided I couldn't be bothered!). good luck to him, I don't read anything negative there.

That's good. I was worried that the UK, with its 2030 deadline on new ICE cars was a voice in the wilderness. With something similar in the US and the EU we could see serious interest.

Biglam
Can you try to behave with more dignity and respect please.

Hi DifferentAngle
I hope for investors you are right. I genuinely wish all investors here good luck (and happy Christmas!)
John

Hurricanes assets were prolific. They no longer are. They have one viable well which has a short life expectancy and is producing increasing amounts of water. Lincoln/ Warwick had only one successful well which is suspended and is overdue to be abandoned - and has anyone heard mention of Spirit lately? Every new well, or water injection scheme costs tens of millions. Experts are being drafted in left right and centre - do you think they give their services for minimum wage? The costs are huge.
Patient investors? try telling the likes of Sirius Minerals. Were they right to hang on?

PoO isn't the primary driver here, survival of the company beyond the 2022 bond maturity date is. The bondholders will wipe out the equity share value to zero if their contracted terms are not met, and the bond price clearly signals that is not going to happen. This has happened many times on AIM before, I expect some posting on this board have suffered before. This is honestly looking like another candidate. The share price has collapsed for good reason.

Slift, you are wasting your breath mate. No ones listening.
No one is taking any notice of the last para of the RNS and still expect the BOD to risk their own hard earned to buy shares. In my opinion that ain't going to happen. They may well award themselves (free) stock options, but I sure as hell cant see them actually putting more than a nominal amount of their own cash into share purchases. I may be wrong of course, that just my opinion. Sure as hell in the next couple of weeks we'll see one way or the other.

Just did a bit of digging found out who wrote the previous CPRs rubber stamping Dr Trices findings. Was quite surprised to find it wasn't a bloke, it was a woman, very sexist of me I know. It was an Enid Blyton.

A new bond issue. May get a few takers if they make the coupon about 250%!

I was in a queue at the chandlers yesterday. There was a bloke in front of me with a bargepole. We got chatting and I asked about his purchase. He told me he was buying it well before Hurricane Energy bonds mature and a stay of execution was asked for. Said he thinks there will be a massive rush for similar items from other holders.
Seriously, without a miracle it doesn't matter about the coupon , bondholders will want out asap because of the dire outlook now. Why would they want a bit more income and risk losing what is left of their capital in a liquidation scenario?

I'm a bit astonished that there has been about a 25% share dilution (if i am reading the RNS right which I may not be) at 1.6p but the shares have gone up?
Good luck to holders

Genghis mate, you are 100% right and 100% wasting your breath here!

Spookie
You unsupported proclamations are pointless. I assume you are either a wind up merchant or need to be sectioned.
Magmanus
You talk about the cash position and compare it to the MC. But that is not net cash. What about the $230m bond debt? As I said earlier, on the last quote I saw the bonds yield over 20%m but I didn't point out the capital gain in 18months time of 200%. Do you think the market would price bonds that way if there was any realistic possibility of the bond conditions being met? The thing is that the bond holders aren't just another class of investor independent of you equity holders. The reality is that if the bond holders conditions aren't met they effectively rip all the assets from the equity holders. That is going to happen.

daltry they wont. And i said before how can you expect them to? They were parachuted in to extract the best they can from a total car crash. They aren't there because they think HUR is viable, they are there to do a job, the same as administrators do.

FFS everyone open you eyes.
The bonds are 30p in the £. That implies bonds are changing hands at a yield of 20+% in a world of sub 1% interest rates and virtually zero inflation. In other words the bondholders don't expect to get their money back. And bondholders lie further up the foodchain than equity holders when it comes to a call on HURs assets. This points to wipeout of current equity holders. Read some investment texts before you lose the lot, and certainly before you throw more money at this