Member Info for LONGWAIT

RRE recently - in March - fell to 422p.
People were saying it was ridiculous, as the company had about £21 per share in cash.
Naturally, there were others, saying RRE shares were in fact worth only £4.22.
Today, 10 weeks later, they touched £13.
One day, HUR shares will treble again.

Six months ago,
'Under the assumption of a price of Brent crude oil of $60.0, Morgan Stanley estimated a net asset value for Hurricane of between 54.0-214.0p,'

If Brent returns to $60 and HUR resumes production of about 15 kbopd, which is what it was at the time of MS's estimate, then the minimum NAV would be 54p per share.

In the event that the OGA reverses its decision about LC, it could be higher.

Thanks for clearing that up, PS.

In that case, BOTH AJED and I have been victims of your longstanding feud with Manyana.
Maybe it's time to cool it.

I wouldn't accuse Tymers of lying about his buying, but when asked recently what his average was, he confined his comments to saying that his average was 'very comfortable.'
Discomfort is, of course, relative.
Having an average of 2.2p when the price is 0.22p is obviously more uncomfortable than having an average of 1.1p.
I suggest that whatever average Tymers has, most people would be feeling extremely uncomfortable in his position.

CORRECTION:
If HUR had not become a producer, it would still have been possible to spread gloom about the 'failure' of its drilling programme and moan about the 'failure' of LC, but the fact is that two out of three wells produced a fair quantity of oil, and LC was going to be a producer but for the OGA's decision.
If all three wells had failed to produce a drop of oil and the two producing wells likewise, THEN I could understand the current share price.

I'm not making any predictions about the share price in the short term and I'm not recommending buying the shares, so no-one can accuse me of causing people to lose money.

There are other companies with huge resources which are surviving in spite of never having produced a drop of oil: JOG has recently doubled and PVR and LOGP have trebled from their recent all-time-lows.
HUR's failure to rally seems to be related to the fact that it is producing oil!
If it had not produced oil, it would have been impossible to create panic about the size of its water cuts, spread gloom about the 'failure' of its drilling programme, moan about the 'failure' of LC (which was merely an unexpected and unfavourable decision by the OGA), become hysterical (as the market did) when the 'interference' problem was announced, or predict the total disaster of both producing wells failing.
All of these strange ideas and reactions have been made possible by 50 weeks' (until the latest RNS) production.
Apparently, the market demanded that everything go perfectly in order for the share price not to fall.
The fact that there are sizeable shorts and that Pelham Capital have sold 29 million shares at such depressed prices reflects the depression surrounding HUR's share price.
As has been pointed out, the market is ascribing zero value to its considerable potential, with people saying that all that oil is worthless unless you can extract it.
Just a few weeks ago, people were saying that all oil was worthless - in fact, having a negative value.

Thanks.

I don't understand why the notification appears on another website before it appears on LSE.
Nor do I understand why they would sell 29 million shares at a loss at such low prices.

I have just deciphered 'PC' as Pelham Capital.
Where did you see an RNS about that?

What RNS?

My post yesterday was in response to AJED's post of 21:47 in the thread RE: How Wrong Can You Be?

His post has also been removed, which explains why my reply to it has disappeared, although his still appears in his posting history, whereas mine does not appear in mine.

It went something like this:

I can hardly follow the arguments and discussion about technical matters, but I agree with AJED. Linn and SpotOn obviously know what they are doing and believe that Barryroe will be successfully developed.

I posted a comment last night, but it has disappeared.

It has recorded only two deaths on successive days, after deciding to change the way it arrives at a daily total.

In new reporting routine, Spain to report only new deaths confirmed, not simply notified, within last week

This week the ministry updated the way it reports coronavirus data to give confirmed deaths, not just notified ones. It also revised Spain’s total death toll, which now stands at 27,117 – down from the nearly 29,000 reported this weekend.

Previously, he said, Spain’s daily death numbers were related to notifications – but the notifications could have come days or even weeks after the death took place. So the country is now opting to report only the number of new deaths confirmed, not just notified, within the last week.

https://www.aa.com.tr/en/europe/spain-reports-35-covid-19-deaths-in-last-7-days/1854147

' the worst time to have invested.'

The worst time to have invested, Tyson, is at the top.

The best time is at the bottom.

I too have no wish to 'abuse' Tyson, but his comment about FFD seems to fit the pattern we've been seeing of supposed obstacles to HUR's success or even survival.

People are still talking about water cuts, whether HUR can make a profit (even though oil prices are now PLUS 37.70, not MINUS 37.70), whether two producing wells will both have to be abandoned, how to pay off the loan (as though PMO, with a loan 12 times the size of HUR's, couldn't do it three years ago) and how to finance FFD.

Quite apart from having too many shares and too much oil.

'In my opinion 14p minimum and 30p maximum will be seen again'

'this is capable of doing 200% in one day and 500% in one week'

A rise of 500 percent would send the price back to 39.33p, above your maximum!

Presumably, LTD, you bought during the recovery from 8.85p to 67.5p.
You seem to be ruling out a similar recovery:

'sadly, it will be years till we see any kind of value/worth for HUR until the resource volume is proved to be commercially viable, as this is still a development project in its early stages.'

The SP reached the 60s when the project was at much earlier stages.
In fact, HUR's market capitalisation at flotation was double its present market value.
That was at birth, and you can't get much earlier than that.

Several months ago, a poster whose name I do not recall announced that he was selling HUR and reinvesting in TLW, whose SP was five times that of HUR's.
As LTHs moaned about HUR's poor performance, the poster gloated, 'I'm glad I bought TLW.'
About a day later, TLW collapsed precipitously.

They bottomed just above where HUR is now, at 7.168p.
They have trebled during the past 10 weeks.

This poster too is recommending buying TLW shares when they are a multiple of HUR's.

Note what JAdam wrote at 16:03 today.

I can't make sense of your post, poniexpress - in particular the reference to moaners and a share price of £2.20.
No-one would be moaning about a SP of £2.20 - nor even £0.22.
There is, FYO, no such thing as £0.22p.

You are, I fear, JD, allowing the SP to influence your judgment unduly.
Nothing about future share price movements is as clear as you claim.
I recall a poster saying that it was obvious from the JOG board's silence that they didn't have a clue what they were doing.
Shortly afterwards, they were awarded licences and the share price quadrupled.
More recently, another poster said that the JOG share price showed that the market didn't believe that JOG would ever get its oil out of the ground.
During the last few weeks, its SP has doubled.
Pray tell us what RT did right to propel the SP into the 60s three times?
We only hear that he has made a mess of things and that that is why the SP has collapsed; somehow, when the price soars, it has nothing to do with him.
The market is not rational and most people don't appreciate a bargain when they see one.
Vincent Van Gogh couldn't sell his paintings.

Far be it from me to intervene in your long-running feud with ps, Manyana, but isn't there an asterisk missing from your last post?