Member Info for LONGWAIT

'O'Reilly left of his own free will and there has to be a reason for it. .. So why did he go with those terms and conditions? Because something better was coming along. We don't know what that is but hopefully in time all will be revealed.'

You are, if my memory serves me correctly, referring to a previous assertion that there is a deal in the offing and that part of that deal is that TOR had to go.
How is it that that cannot be a fantasy, but the idea of TOR being pushed by shareholders is a fantasy?
The truth is that we don't know why he resigned and we could all be wrong.
I don't see why a major would insist on a company changing its CEO as a condition of doing a deal.
I've never heard of that happening before.

'And he is getting them very quick so with his inside knowledge he can sell them before any news announcement...'

You actually think insider trading is permitted?

You really think he would sell shares for less than 2p - knowing that merely starting to sell them would drive down the price he would receive for most of them - when the NAV is about 16p per share?

Forgive me if I am mistaken, but it seems that most posters think this company has no future and therefore that the share price cannot be expected to recover.

If so, then why is there so much resentment about a parting director receiving shares in lieu of cash?

'apparently 24/25p was the support point for the sp back in ‘17...'

We have been discussing that regularly recently!
Here is an extract from my post at 21:11 yesterday:

'The last major correction - from 67.5p - ended at 24p, but that was after a placing at 32p.'

I have often mentioned the fact that I bought at 24.5p, just off the bottom, and am hoping to do (or that I have done) similarly this time.

Well, he hasn't been arrested yet and I rather doubt whether the shareholders who may have been behind his removal had been tipped off by the CPS about a forthcoming trial.

If there was an offer from a major on less favorable terms, then TOR made a misjudgment.
If APEC's offer was the only one, then he was unlucky.
He has not committed a crime.

I just bought some more.

According to LSE, buys outnumber sells.

I too said some time ago that I thought major investors gave TOR the push, but was it because of something that happened - or didn't happen - when the oil majors approached TOR?

It's intriguing because if the majors were interested, why couldn't TOR do a deal and if they weren't, why would major shareholders think anyone else could?

I suppose the only explanation is that the shareholders decided they no longer had confidence in him to do a deal.

'Question, is this downtrend likely to stop at around the 24p support? Or there are fundamentals to take the price back around the 9p mark where it was in 2016?'

No-one can tell you where or when the decline will end.
History consists largely of unlikely events and the same applies to the stock market.
What I can say is that after reaching 64.5p on the day before first oil, no-one could have anticipated a share price of just above 25p after more than seven months of steady production - and production exceeding expectations.

The last major correction - from 67.5p - ended at 24p, but that was after a placing at 32p.

HUR no longer needs to raise cash as it has an income.

As for the previous low, which was at 8.85p mid-price, that was where it bottomed after falling from the high forties (although one poster was quite definite that he had bought shares in the 50s), at a time when there was uncertainty about funding.

In answer to your question about fundamentals: the fundamentals cannot justify a price of 25p, let alone a price of 9p!

Would it require a miracle to find a partner willing to accept 75 percent of Barryroe?
The fact that Total have given up on Avalon and ENI have delayed the site survey for Dunquin South worries me, but TOR did say majors were interested in taking APEC's place.
My only question about that is: if so, why has someone had to take TOR's place?
If what he said is true, then they must have their price and a deal could surely be done.
Assuming the oil is still there, wouldn't 75 percent of Barryroe be a good deal for them?
That would leave PVR with 20 percent and LOGP with five percent.
If the majors told TOR they weren't interested and there is no prospect of a deal ever being done, what then was the point of appointing Alan Linn?

It seems that the HUR share price is low because the 'market' believes DSPP and disbelieves RT!
As Double observed some time ago, people simply don't understand the water issue.
It's rather like the lunatics taking over the asylum and then declaring non-lunatics to be mad.
It doesn't matter how many times one points to HUR's growing income, absurdly-low P/E ratio, and resources/prospects, because the rejoinder is always a reminder of the share price and that it 'proves' that there 'must be something wrong.'

Berenberg stays at 'buy' on Hurricane Energy despite 'disappointment' at Warwick West

Mon 02 December 2019

"The focus remains on Lancaster, where results from the early production scheme (EPS) continue to deliver in line with guidance," they said.

Indeed, of its 100p per share net asset value estimate for the whole company, the broker had assigned just 4.0p per share, on a risked basis, to Warwick

04 Dec, 2019 16:04

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, depending on the valuation for the contingent resource base in place at Lancaster and Lincoln.

https://www.sharecast.com/news/broker-recommendations/morgan-stanley-labels-hurricane-energy-share-price-drop-overdone--7147057.html

I've just re-read 'Staffie''s longer post and it's a wholly-unjustified attack on HUR and its BOD.
He predicts that the share price will never breach 50p, even though it has done so at least three times, the first time almost reaching 70p, and in real terms is much better value now.
I don't care whether he really holds shares or not; he has no right to make such comments and if he does do so again, I will report them.

Some recent posts by Tipsterchep on HUR:

06 Dec 2019 15:46
Brokers say a £1, bollo*ks.

26 Nov 2019 16:45
On the other side of the coin, you have the "experts" who fully research the said company, plough their hard earned money in, sp drops, they plough more cash in telling themselves its too cheap, 3-5 yrs later, head in the sand job, voice inside their head telling them, it will come good, it will come good. I can't admit i fu*k*d up. Plenty of those people posting on boards.

07 Oct 2019 17:03
After the brokers notes recently, does this sh*t ever turn blue.

Is that really the best you can do - gratuitously vulgar remarks about brokers and investors who believe in this company, and about the share itself?

Yes, WW.
I don't know how long it will take, but eventually the doomsayers will be made to look ridiculous and discredited.
It is of course still possible that after five years of steady production, they will spread a rumour that the oil is drying up and production is about to come to an end.
I do agree with you that the main motivation of such people is to look clever, as well as to have the satisfaction of influencing investors' actions.
Do you remember the man who several years ago predicted the exact time that the world would end?
When it didn't happen, he didn't say anything more.

Posted in: AAOG
RE: Share Buyback02 Jan 2020 14:44
The shares are bought back cheaply, cancelled and the share count reduced. This reduces dividends paid out in total, as the dividend is spread over fewer shares. Very relevant for a high yielding company.

Guess who posted that?

MartyPoppins!

HUR does not yet pay a dividend.

Conclusion: MP's advice is not relevant.

No need to offer any advice now - it was a case of seventh time lucky.

What a relief!

I am in despair.
Seeing a number of posts about JTF, I unfiltered him in order to see what it was about.
I have since tried six times to re-filter him, but each time nothing has happened.
Can anyone offer any advice?

Wressle Development Granted Planning Consent
Fri, 17th Jan 2020 15:25

Europa Oil & Gas (Holdings) Plc - Wressle Development Granted Planning Consent

Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, notes today’s update from Egdon Resources (‘Egdon’) that the Planning Inspectorate has today upheld the appeal and granted planning consent for the development of the Wressle Oil Field in North Lincolnshire licences PEDL180 and PEDL182 (‘the Licences’). The Inspector also allowed the application for an award of costs against North Lincolnshire Council. Europa has a 30% working interest in the Licences, alongside Egdon (operator, 30%), Union Jack Oil (27.5%), and Humber Oil & Gas Limited (12.5%) (together ‘the Partners’).

'Silence implies there is a problem.'

(MP)

When JOG had fallen from 399p to 57p, a poster said that it was obvious 'FROM THE BOD'S SILENCE' that the BOD didn't 'have a clue what they are doing.'
Shortly afterwards, the BOD of JOG announced game -changing license awards.
You are quite simply wrong!
It reminds me of Double's observation, when the present share price fall was gathering pace amid a mass panic about water, that most people just didn't understand the issue.