Member Info for littlened

Dont OGA have connections with BP and Shell ?

Does the oil stop flowing at this date ? If not what is the problem ,no need for any reconstruction.The bondholders are paying $500 to get 95% of the shares.They must think this is a good deal.Of course it is because the oil will continue to flow .Daylight robbery

Mcadder,you still working at 2am ? You are really a slave at this job aren’t you.I would get a job with better hours or is the pay so good you can’t resist

I dont believe you for one minute.If there was just 1 deramper spender his /her life on this BB for a miniscule AIm company in which they had no shares it might just ,just be possible.idiots do exist.But there are several of you and you are being paid by someone.
As to my own attitude I sold most of my shares a few months ago but retain some as a long bet.I have never said that I have been cheated but it is possible that the BOD are scoundrels with devious intent and until it is proved otherwise I will continue to be sceptical.There are too many unanswered questions at the moment.

RNS TRanslator,Slift and others,or are they the same person, have spent hours each day every day for the past weeks and months arguing the case against HUR.None of you are shareholders,how can you devote so much time and effort in this crusade and why? You are all very clued up legally,in a corporate sense,some seem to have technical expertise re oilfields and finance.It is unconceivable that you are not being paid to do this.But by whom and why not be honest and say so.Do you have consciences ? Hiding behind the security of this website may be totally legal but it is not moral.Clear your conscienses and come clean.You will feel better for it

Technically they are NOT insolvent.The BOD suggest that HUR may become insolvent if certain actions are not taken.These actions are controversial but are not being put to the shareholders. Why not ?

HUR is not insolvent.It is a profitable entity at present.

Still obtuseSecret.The shareholders as a group have control,they own their shares.The point I made is valid

You are being obtuse.In that case nobody owns the company !!

The shareholders own the company.BOD work for the shareholders.Surely they can’t take such serous action without shareholders consent.Surely the judge will realise this

Or I will come round and sort yous out !

It seems highly likely that should the reconstruction take place ,that one of the Bondholders will end up with over 30% of the equity and this will require a buyout offer for for the remaining shares.If not one then a concert party of the Bondholders group.The offer value will be derisory and existing shareholders will be annihilated.This is so obviously wrong ,immoral and contrary to justice that the Court should deny this this travesty.

Who are the bondholders ?

Maybe but the company has less debt and keeps the cash

Keepwell,you surely have it wrong.HUR is not giving $50m to Bondholders.They are reducing their debt by$50m in return for shares.

You dont get it at all.The market cap is a fact of life.It is the current number of shares x the current price .That is simple enough isnt it ! It changes daily.
Its not rocket science as someone recently said.

The market cap after the RNS is £22m.If the Bondholders are paying £400m then that is a reflection of their valuation

The market cap of any company =number of shares X share price .

Look under HUR Financials and it will tell you what the market cap is, £22 million

£22m not £400m !!!!!!!!!!!!

Tavernham,the current market cap is £22 not £400 .Get it right !!!!