Member Info for Kooba

Nb below, does not appear a direct game changer even if the EPL is reduced…unless someone can prove a meaningful benefit .
18 November 2022

Hurricane Energy plc

("Hurricane" or the "Company")

Financial and Formal Sale Process Update

Hurricane Energy plc, the UK based oil and gas company, notes the Autumn Statement issued by the Chancellor of the Exchequer on 17 November 2022 containing changes to the Energy Profits Levy (the "EPL"). From 1 January 2023, the EPL rate will rise from 25% to 35%. The Investment Allowance will be reduced to 29% for all investment expenditure (other than decarbonisation expenditure) broadly maintaining its existing cash value. The EPL will end on 31 March 2028.

As previously announced, the EPL charge for the Company for 2022 is currently expected to be less than $5 million taking into account capital allowances available in the period as well as the effect of the Investment Allowance that is included within the EPL legislation.

The Company is assessing the impact of the proposed changes to the EPL, in conjunction with its tax advisers. Currently it anticipates that, assuming oil prices remain at current levels, the impact of the increased EPL charge for 2023 and for 2024 will be a similar amount, but this is heavily dependent on the Company's cost base at the time and the achieved level of revenue, driven by the price of oil.

Whiteslot
There is an anticipated timeline in the presentation..a relatively short experience if you want to listen to Maris sell this ! It’s on their website hopefully this links.
But notice of AGM early April should have accompanying documents but I think much in terms of detail is now out there.
https://stream.brrmedia.co.uk/broadcast/64107f37f866e2102a4e9acf

Well i did answer him several times but as you know the truth is water off a ducks back to him…but after casting many totally unfounded accusations he did acknowledge my standing. Answer is yes i am pi been invested and posting from ipo…got out on hype but not that well ! Returned before the court case and been posting on advfn since..same avatar there.
No i do not work for any party involved or foreign power..and am not Maris Chaffe or anyone working on the transaction..
The fact that folk try to make out anyone who has an alternative view is obviously a wrong un is just a way to belittle their opinion..most should be able to take an alternative view on board without such idiocy and bullying and accept that not everyone shares their very blinkered rose tinted view. The filter button works on me so those who think i am an undercover agent for evil forces just block me. Chin chin

Winnie not sure if that was directed at me..i don't own in an isa but can understand the concern
As far as i am aware at this stage from a DM from a well informed advfn chap is that if the DCU’s are on a recognised investment exchange then they could be allowed to stay in an isa ..but that could be dependent on your administrator. I think it worth waiting to see if that facility for the DCU’s is available. In the meantime it appears the dividends should be received with time limits of delisting to get those tax free doesn’t it? Not might thing but will post if i know something firm.

Buckingham*

Well on the change of management i did my research on Abion when that was live and i could not get comfortable..there is much on Mr Buckinghamshire past endeavours and a bloody good film it would make. There is also good evidence that heritage oil made good money for investors and him and he was worth considerable money. However more recently very little on him or Abion..small licence deal in Malta..but nothing much. Why is a guy like that wanting to become CEO of Hurricane ..and not put a penny in if he is worth so much?? Why give the reigns to a “Bucaneer” when its stuffed full of cash..and what exactly was he to do with it..never became clear…so it all looked a bit mysterious..hence i commented why it was with withdrawn might be that Albion didn't like what the found or vice versa. But i think one would have to look very carefully at any change of management and their plans..the story here is a very sad tail but thanks to Judge Z there is still some value. Under someone else and acquistion strategy could go wrong and be the nail in the coffin of what was left.

Oldman are you not allowed to have a view based on decades of investing that is different to yours without their being something sniffy going on..its a very blinkered view.
Glad you accept i am not Maris as i think he has been useless..always have and likely will. I think he was not competent for the role as previously have been operations for soco/Pharos under a very mercurial ceo chair..so surprise surprise he’s ok at operating one well. He is however appalling and lacking when it comes to anything corporate..be it bonds restructuring debacle , forward planning , well 6 where they obviously have a terrible relationship and even the acquistion strategy where they came up with nothing. All these things cost shareholders dear and we are left with little but one surprisingly resilient well. Do i want Maris running this to cessation..hell no. Do I believe the financials posted by the company ..well yes. There is a difference between incompetence and fraud and if the company was publishing anything that was knowingly false..thats what it would be. So i don’t want to sit and wait to get scraps for another 3 years when i can get most of the cash out short term and still get a kicker if the well continues to produce as expected. This does not make me ..or the 45% irrevocables..dumb stupid or whatever anyone wants to say..it means we dont want to risk the little thats left to be run by someone who has poorly managed the business. End.

British..you don’t think this is a bit of a credibility stretch??

“Voting no is a win-win for all even with people wanting this deal to go through…”

If it does go through with this mentality , there is no other acceptable offer and maybe never is , you would be left with a wind down with Maris and co sponging till well6 runs to maximum economic cessation Aug 2025..or before if other risks manifest themselves..then you get less than 8.17p. However from cessation Maris and co would still be there on full salaries organising the decommissioning and then the liquidation of the plc. Thats a good 9 months..maybe longer.
Another offer is possible..but better? Change of management possible but no firm obligation by anyone to oust the incumbents i can see.
So voting no doesn’t really work for those who want this deal to go through does it..be honest.

Old man what have you said exactly..you thought i was Maris tats about it..is that what you think? Is that a sensible supposition that Maris is posting on a BB in the middle of a takeover? You need to reset your suspicion buttons and focus elsewhere on who has got an agenda.

Does everyone know how the filter thing works? I’m not sure getting very angry and making stuff up negates it..its working fine.

ASI i now have two greenies it really is a good facility..i actually don’t have many on ignore on advfn its not been necessary in many years..but silly senseman is now filtered there too. I would caution folks that those who criticise the institutions for accepting the offer..for their own ends and situation..remember that some are condemning it because of their own ends and situation which might blind them reality. Desperate time.

Many thanks ..that green lined box is a thing of beauty! Ignoring ignorance is the way forward.

You have complained of people posting your posts on advfn from here ffs!
I had no idea you were copying across until you mentioned the other day…i had been on this board a few times in the last year..so have no idea what you post of miner and what comments you have made.

Is it possible to block idiots on LSE..wasting time reading absolute blx from one poster in particular who has nothing constructive to add..been some interesting stuff from others though ..even if i don’t totally agree,

Why posting here..straight forward ..you posted my posts from advfn here without my authority and i noticed that people were making derogatory and false statements that i have very right to reply. I have had an account on here for a few years and chose not to use it until you started posting my posts ..so you are the reason i am posting here.

A basis of sensible discussion is not dismissing all factual evidence and legal documentation and saying it is lies for some apparent large scale fraud and that instead the unsupportable rubbish some put out is in anyway believable even through they are proven to be serially wrong in just about every over optimistic fairy tale they tell !

Suggesting they made things look as bad as possible at the time they put the company up for sale ..lets just understand the motivation behind that shall we??
If anyone has an industry idea on the costs and timescales mentioned in switching over an in place ESP or one replacing one please confirm if the company is lying in its official correspondence .
I’m pretty sure the company would not put down unsupportable estimates..that can be verified by many in the industry.

Expectation*

‘I will contact Hur Ca Kerogen today, worth to explore this way in my opinion.”

While it is indeed another possible plan that might work for some here I’m rather unclear what you think the company CRS and kerogen can do to force a change in the terms they have irrevocably agreed to and can in no way hamper the process? I also would imagine there would be significant issues around the tax position.
It would be against PRAX interests as far as i can tell and make what is bloody complicated already even more so. So whilst it would appear a waste of time ..everything is worth a try as long as execution in managed correctly.

ASI i am truly shocked in some cases this could swing votes one way or the other against the true underlying shareholders wishes. You would think they could just vote the net amount. Does this also mean if there was a 10m holding in noms and 1 shareholder with 1000 shares actually bothered to vote voted yes then there woud be a 10m vote cast ? Jeez this could certainly be used to give a pretty false view of support!