Member Info for Kooba

Me rattled not at all…just amazed that you think i am Maris…absolutely bizarre and to be fair a very nasty thing to call anyone ..so less of the personal stuff or i will suggest you are Chaffe in deep cover working covertly to uncover shareholders against the scheme…i think thats how it works isn’t it. Just make stuff up regardless of any reasonable basis.

So you reckon i am the ceo of the Hurricane fully conforming to the takeover code in your view??
Jeez..a bit of knowledge is a dangerous thing here isn't it , much safer to see shadows in ignorance !!

Sefton..so you are going back to the restructuring to launch civil charges for the losses incurred in proposing a restructuring to shareholders. Well it may have proved wrong and lost in high court but what civil charge are you making exactly. There was an investigation of their behaviour demanded by CRS I seem to remember conducted externally and they found no wrong doing and adherence to legal advice recieved.i could be wrong but best of luck taking them on with that..though i certainly would not want to fund any such adventure…not really a jail matter that is it.
I thought you were indicating you thought their was criminal activity around this scheme of arrangement ..got nothing on that ??

Old man..Oh you got me , yes i am Maris ..crikey no pulling the wool over your eyes is there.

Actually nothing to do with Hurricane and a huge critic of their work if you knew anything. What i do know is how these things work from being a market professional ..its very straightforward.
Just thought i would answer having the small amount of knowledge necessary to do so in knowing what the responses will be. Let me know if you get a response and whether i am correct would yah.

Complain to the Nomad posted details earlier..they are the first line regulator for aim stocks..I'm not complaining about anything for now but that would be my first port of call.
I think folks probably need to think what they are complaining about first ..if it is just the terms of the offer resulting from a FSP then you do have a chance to vote as a shareholder..thats how it works so not sure what the complaint would be.If you are aware of skullduggery in the company and its advisors go straight to the FCA…with your evidence. If you don’t have any evidence to support complaint and are just a bit miffed I’d probably not waste your time..or theirs.

Sefton , Wolfe and Maris ..Go to jail? For what..having a legal background what would the charge be exactly? And not to be too difficult what evidence?

The potential £3.5m bonus to the executives and staff if the full 12.5p is paid is mirroring their existing contracted incentives and would be paid by Prax. Their short term bonus of £900,000 again does not as such come from the funds for shareholders if the deal goes through and quite likely would be paid to them out of shareholder funds if they stay independent.

I can help you there i think
1 they were wall crossed using a nda and therefore made inside.Very commonplace in corporate transactions.and fully legal.
2 no not unless they signed above.
3 The offerers required confidentiality agreements as is their right in the process..so will stay non public information. They have said that this was the only acceptable offer made.

The key advantage of an FSP is that a target can seek dispensations from the following Code rules:
• the requirement to identify publicly all bidders who approach a target about a possible offer;

Oil was about $100 bl a year ago and most including the EIA thought it would go higher.
We expect the Brent price will average $117 per barrel in March, $116 per barrel in 2Q22, and $102 per barrel in the second half of 2022,” the EIA stated in its March STEO.

https://www.rigzone.com/news/eia_makes_huge_2022_oil_price_forecast_adjustment-09-mar-2022-168185-article/

Brent closed the year out at $83..so that conservative type of estimate was very wrong.
The estimates in the presentation are for oil averaging $80 ( this is higher than the curve) to cessation of production estimate August 2025 for three years.

“The Board estimates that Hurricane will be able to deliver the following returns to Hurricane Shareholders from Lancaster production alone, at an assumed US$80/bbl oil price and incorporating an August 2025 cessation of production ("COP") using the updated ERCE CPR 2P production profiles and after adding the effect of corporate costs.”

But saying they have made an error in their calculations ..is simply not true i am trying to help you better understand the presentations slide which i have looked at closely because it demonstrates on the basis of production expectations and $80 oil shareholders would do better through the scheme than a standalone basis..with further upside on scheme if acquisitions are made.The slide you refer to in your correspondence is fully explained. Anyone thinking of whistleblowing to the FCA on them having an error in there presentation, i would hold your breath.

As previously posted hurricane say they would retain a lump of cash on balance sheet as contingency against early cessation. Repeat these figures are no cash held they are money returned to shareholders.So Prax woud pay out £103.4m a standalone Hurricane would only pay out £66.1m and sit on the rest.
Prax has proposed an offer structure which allows Hurricane to dividend substantially all of its Net Free Cash (up to £103.4 million) to Hurricane Shareholders, significantly in excess of the £66.1 million it would be able to dividend if it had to retain sufficient liquidity to manage an unplanned cessation of operations on a standalone basis.

I don’t understand your point.
The 3.32p is a dividend payment for 2023 if the deal does not happen..ie Hurricane stand alone.
The balance of the cash stays in Hurricane ..they will hold moneys back as contingency against early cessation of production ..as explained. There is no prax involvement in standalone..nothing changes.
The other line of returns to shareholders is the amounts that would be paid out if the scheme was approved and Prax took over the company and shareholders were paid through the DCUs.

There is no error in the calculations based on production guidance and using $80 brent. Obviously there is some potential variability in shareholder returns depending on oil price and production levels in both models.

Because that is not the forecast cash position at the year end many are not attributing the costs correctly..cash generation is far lower and as the company states it will be holding back circa $40m for contingency against early cessation of production.

Kevar..that as explained is the shareholder returns line not the cash position.
On a stand alone Hurricane would only divi up 3.32p in 2023..because as explained
Prax has proposed an offer structure which allows Hurricane to dividend substantially all of its Net Free Cash (up to £103.4 million) to Hurricane Shareholders, significantly in excess of the £66.1 million it would be able to dividend if it had to retain sufficient liquidity to manage an unplanned cessation of operations on a standalone basis.

So the company would only pay out £66.1 m as a 3.32p dividend in 2023.

Oh the nomad is in on the scam too then..blimey and all the lawyers and other advisors too..hells teeth.
I do agree Stifel are probably the biggest beneficiary of this whole sorry tail ..and they effectively blackmailed CRS that they would resign as Nomad if he ousted the executives too,,so not saying they haven’t made money. But if there was evidence they were complicit in a big stitch up like i think folks are suggesting ..they would get a huge fine and likely the nomads involved barred from acting. Not sure they would risk that ..for what exactly? A few more corporate fee’s some back handlers. I’m afraid too many conspiracy theories abound to support the fact that the offer does not meet some peoples expectation..unfortunately that high expectation might have been fuelled by over optimistic commentators when the reality was somewhat lower.

On “there’s 3p off the line “in the standalone presentation lets report it to the FCA well no there quite clearly isn’t anything missing , that is not the cash position that is the expected returns line..totalling 8.19p to close of play. Look right to me..they are saying would divi 3.32p short term but would hang on to most os the cash as contingency on early termination as explain in the text.
The clue was the heading..I’m not sure one will get a response if you are accusing them of stuff because you cannot read.

‘Illustrative Lancaster returns to Hurricane Shareholders as a standalone independent business compared to the outcome pursuant to the Acquisition under the same production assumptions are presented below:”

The FSP was organised by Stifel the company’s Nomad so all offers and interest went through them, they will know everything that came in as “strong interest” They also have an ongoing obligation to shareholders in their role as Nomad .

A nominated adviser must be able to demonstrate to the Exchange that both it and its executives are independent from the AIM companies for which it acts such that there is no reasonable basis for impugning the nominated adviser’s independence.

Anyone with any evidence that the process was not handled in a correct or appropriate manner should start with asking Stifel on the process leading to the agreed deal. Contacts for the lead on process.
Callum Stewart
Managing Director

Energy & Natural Resources

London

callum.stewart@stifel.com | 44-20-7710-7713 | v-Card
Callum is a Managing Director of Stifel Nicolaus Europe’s investment banking team. He has 16 years’ experience in corporate finance and is focused exclusively on Energy & Natural Resources.

Never have guessed..good night and good luck.

Since I have learnt nothing here, though the cpr points as i had already said elsewhere before appearing here are indeed interesting but don’t necessarily change the economic limit to production I feel that having been dragged across to sensemans turf was a mistake. I as always stand by my posts but to be frank don’t need this ****. Next time senseman contacts me on DMs there will be no reply. I advise folks to mind their eye ..senseman is desperate to get more out of this counter than is in any way realistic . I am a private investor with city background..I am not a bloody agent for any party past or present.

Senseman someone copying my posts on here without asking yesterday ..because they respect my opinion ..then when I come on to this board to defend against stupid comments says I can’t have an opinion on an area I know well and says I am an agent for some unknown party..you really could make this **** up.

No its original avatar sheepshagger ..gets banned comes back again multiple times i know the underlying name but will not put it up here..though it is not senseman.
Currently sensemun and posted this today…total lies. “ Had an email off RB today. He is 100% sure shareholders will get the full 12.5p. Prax are close to completing a couple of deals which will add the production required to get to the 12.5p figure by mid 2026.” But from real senseman that would be something !!