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Re-reading my last post, I must say that whereas it would have been smart to have sold a few months ago, it does seem strange to have sold last week - I mean that it seems rather late.

I'm having difficulty finding the post by tournesol to which I referred, let alone the post of his to which you refer, Double.
I would point out, however, that today tournesol wrote:

'I sold everything last week and am now 100% in cash'

which means the fact that he is out of HUR merely reflects his view of the market, and in no way contradicts anything he wrote about HUR being undervalued.
If I'd been smart, I would have sold all my oil shares months ago and started reinvesting now.
That would have had nothing to do with my opinion about value.

I saw it mentioned with quiet satisfaction by posters on ADVFN too.
No surprises, then.
Remember DSPP's get-out clauses?
He didn't say there was a problem - only that there might be one - and he thought RT might think he - DSPP - didn't know what he was talking about.
Don't be surprised if DSPP now says that the fact that he has been proven not to know what he was talking about means he has been proven right.

I haven't read all of the article, but I think two of his main points are that oil consumption actually increases during an epidemic (based on what happened during the SARS epidemic), apparently due to less efficient use of oil by, for example, driving instead of flying, and that China is stockpiling oil, which suggests they Chinese themselves expect demand to increase - not decrease.

This seems like a good opportunity to mention a poster on ADVFN called tournesol, who said four days ago that he made 1900 percent profit from his investment in Dana Petroleum and thinks HUR shouldn't accept an offer of less than 280p per share.
He also discusses water, cash flow, LC etc.
I hope the Grammar Police don't see his posts, but the content is interesting.

Yes, Emerald Carrots, and the present recovery rate from CV is 48 percent worldwide.

'So my preferred theories are that there was a transfer issue or else they are keeping oil on AM'

I realise that by wading into this discussion, I am risking catching the full-blown Lemon Fool Virus, but is the doubt really about whether the oil has been produced?

CS seems to be suggesting that many people are simply looking in the wrong place.

It's true that Israeli scientists believe they are close to developing a vaccine, but according to a report I just read, it could be 90 days before it's available.
At another medical center, they are talking of a year.
There has been coverage by both Newsweek and the Daily Mail.

That worried me too, Manyana.
Funnily enough, Proactive Investors put it differently:

'It is anticipated that the programme would also seek to confirm reservoir continuity ...'

That implies that PVR are confident that there is continuity, but want to prove it beyond any doubt.
As I said before, it is, presumably, the suitors who have been raising doubts.

Thanks, Copper and Tacuma.

According to the late-departed Hugh, the addition of Wressle should raise total annual revenue to between£3.5 and 4 m.
That's not the same as profit, but it's about 60 percent of the market capitalisation.
If they were able to increase production from Wressle by a further 40 percent, then revenue would be maybe 75 percent of market capitalisation.
Isn't that unusually high?

The thing I don't understand is, if they are expecting just a few hundred barrels per day initially, how could revenue ever reach £400 m?

After starting up at Wressle, Europa expects revenue to reach up to £400mln annually

https://www.proactiveinvestors.co.uk/companies/news/221144/europa-oil--gas-hails-planning-permission-at-wressle-221144.html

Could anyone translate that into earnings per share?

It's interesting to see plenty of director buys in the last three years and a bit, some at prices of 38-45 and, more recently, in the low twenties, as well as the strong institutional following, although I am not sure who SDX SPV Limited is.

Based on something I read recently - that the shares were on a prospective P/E of 5.68 a while ago - I would guess the prospective P/E is less than five, which twenty years ago would have had people saying 'that's cheap!' but nowadays people say that every oil share is overvalued.

The latest estimate of when cash runs out is a month later than yours, Manyana.
I'm just as anxious as you, but the fact that a LOGP director bought shares 12 days ago suggests some form of financing must have been lined up.
I agree with you that we must prepare for further dilution: the last three placings have been at 25, 12 and 5.1p respectively, so it seems unlikely that the next one will be pitched higher than 2.5p.

I think you can't set any time frame, Ajax, because the market isn't rational, but we'll know we've taken off just as surely as you know when an aeroplane you're travelling in has taken off.

If you take a look at the historical chart, presumably old prices have been changed to take account of the placing in late 2017, and I don't think the recalculations, especially of the lows, have always been done correctly.

Even so, the price reached about 300p in April 2017, and again in October after the sidetrack, then rallied from a low of 182 to 248 in October 2018, from 146 to 249 in March 2019, and then from 57 to 249 last September.

I think we can reasonably expect a recovery to about 250 or 300 some time, probably on news.

If the oil price has recovered by then, it should go even higher.

'The more I think about it, returning the companies founder is about the only thing that will save it. '

Is that comment actually about EOG?

You don't seem to have much confidence in TOR's replacement, Manyana.

Here is what they are talking about on SOU:

The LNGo technology makes it possible to monetize stranded gas deposits due to its relatively low capital and operating costs. The micro-scale LNGo solution can be deployed in rough terrain or remote regions, eliminating the need to establish an expensive gas pipeline infrastructure or arrange for long-distance trucking of LNG from centralized plants to point of use. It can function as a decentralized solution where the requisite pipeline infrastructure is lacking, or as an onsite solution to reduce or eliminate flaring of petroleum gas at, for example, oil rigs or producing gas fields.

https://www.hydrocarbonprocessing.com/news/2018/03/siemens-micro-lng-solution-commences-operation-in-british-columbia-canada

You could be right, S-A, but if so, why wait until now?

Maybe they have just increased it from 0.49 percent, which doesn't need to be declared, to 0.59 percent.

I noticed MW's reduction to 0.69 percent a few days ago, but didn't report it as it was an insignificant reduction.

I'm not sure I'll ever invest again in a Blackrock fund after seeing this.
It isn't just that it hurts me personally but that they would consider HUR a candidate for shorting when it's so obviously vastly undervalued.

I do recall Blackrock's World Mining investment trust making a disastrous investment in London Mining bonds a few years ago.

London Mining went bust.

Maybe, when he posted on SOLG:
'Will be up this afternoon.
I’m a buyer at 11p'

but the price at that time was 20.9p,
he meant another company or possibly imagined the price had already collapsed?
Would that change your diagnosis, Doc Dick?

Well, Manyana, if so many companies are talking to PVR - presumably, with about six talking about gas, the total could be in double digits - there's a good chance that Petronas is among them.

I note that SOU have put their deal on hold because they are not happy about the sources of the money offered, and are talking with other companies, presumably including ones whose offers had been rejected.

I still think it's possible that at least one company made an 'inferior' offer to APEC's and is now in talks again with PVR.

If a deal with a major is done, then fine, but if it's with a 'minor' then I just hope it's contingent on some money up front.

At least that way we won't be wondering whether a postal order from Hong Kong will ever arrive.