Member Info for LONGWAIT

Here is a comment on HUR, posted on LSE UKOG just over an hour ago:

'$60 million loss, SP below 30p and sinkingblike a proverbial ship, huge lift costs of operating offshore, and a loan that makes ones eyes water, but not as much water as in their production wells. Ouch. You're right, HUR will never make a net profit. Loan impairment costs and bad results = good night nurse. Expect a buy out for peanuts in less than 12 months. Ouch. Sub 20p v soon, equating to a 66% reduction in SP in less than 6 months. Good stock picking.'

That's the kind of garbage you see on LSE.

Don't worry, Dspp: you're the last person I would ask for a comfort blanket.
After wading through your 11 points, I wonder why you posted them here.
Points 2, 4 and 5 all begin, 'If you have a problem with...'
I suggest you go back to Lemon Fool.

I'm not sure which 'very knowledgeable poster' you're referring to, Wedgwood, but I wonder whether he would be more knowledgeable than Morgan Stanley's analysts, who gave their opinion after the WW 'disaster':

'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.'

The mid-point of their estimated NAV range is 134p, considerably above the 15p level being predicted by one poster.

I suggest HUR is seriously-undervalued and I know plenty of people share my view.

Okay.
I take back my remark.
I've just looked at his early posts on HUR:
'If you held HUR on Friday with no hydrocarbons having been brought to the surface, why on earth would you sell today with this news?
If it was a hold on Friday how on earth can it be a sell today?

People are mad, no logic at all just knee jerk madness.'

'It's not that long ago it was 55p and we had no oil out the ground.

You'd think that since we're taking positive steps towards a money making oil producing company that 55p would not be beyond the realms of possibility.

In fact if it could be worth 55p then, it surely has to be worth more than that now.'.

(13 May 2019, 50.5p)

So somebrokers have said c.£3.50 possibly - what if the amount of oil in the ground is way more (i.e. more than2x) predicted, and the amount that can be recovered is higher, and the barrels per day is higher ...
I ask because Dr T seems to be one of those people you could put your life in his hands and not need to worry.

And the conservative estimates, etc - he's not trying to over egg the pudding but play it right down.Which is a great sign?

(22 May 2019, 58.5p)

When first oil is announced 30 May 2019 10:55
How much do you think the SP will jump up on that day?

10p?

(30 May 2019, 60.8p)

Didn't think it would happen so soon, but hey - £some per share is looking probable.

Espacially once (if) Foil is announced.

(2 June, c. 58p)

I'm not so worried by what it does today SP wise since I'm in it for the long haul - but I'd have thought it'd be a bit higher than 62.
(5 June, 56p)

"In the short term the stock market is a voting machine, in the long term it's a weighing machine".

(1 July)

What changed shuttts' mind?

You're not a genuine poster, shuttts.

No genuine poster would make a remark like that.

You're just a scaremonger.

I did say just after he resigned that I thought it was at the insistence of the major shareholders, but someone contradicted me and said that couldn't happen.

If so, it could be due to a disagreement about accepting an inferior offer, but if so, couldn't PB see it through?

Maybe there was no offer, but then what would be the point of forcing TOR out?

You've completely missed my point - at TLW, all the recent comments exude relaxed confidence, whereas many here are expressing the exact opposite.

If you take a look at the TLW BB, you will see many relaxed and confident posters, with one pointing out that just three weeks ago, a director bought 20,000 shares.

And TLW has more than $2.5 bn of debt!

I disagree.

PVR recently raised money under TOR at 5.1p per share.

Spirit farmed into the GWA in September 2018, taking on a 50% working interest.

At the time, Spirit said the aim was to progress Lincoln and Warwick towards full field development, should the well campaign and further tests be successful.

Spirit would take over as licence operator at the development stage.

A spokeswoman for Spirit said that intention had not changed and that the company still planned to “move towards” becoming operator.

https://www.energyvoice.com/oilandgas/north-sea/213209/hurricane-makes-discovery-at-warwick-west-but-more-technical-analysis-required/

At JOG, just as the price bottomed out at 57p - before rebounding to 240p - posters were trashing the company, with one poster observing that it was 'obvious' from the BOD's 'silence' that they didn't 'have a clue' what they were doing.

Nearly 13 million shares sold today, apparently by private investors throwing in the towel because they all read this page and have become convinced that HUR is drowning in water?

Presumably, BP are in for a shock when they open their barrels and find they contain water, not oil.

It looks as though many PIs are throwing in the towel, convinced not by any fact other than a falling share price that HUR is finished.

That's what AIM does to people's brains.

'Admittedly, when I told my lovely wife I had bought, she said " FFS !"'

I think your post contains a typographical error, Daltry (asdfgh...)

What your wife meant was, "FFD" (full field development)

'Should have stopped hurricane for tullow Monday all your money back and more.'

Could you please translate that into English?

I understand entirely, DE, but in three years' time the company could be producing more than 40,000 + bpd and at 30p would be on a price earnings ratio of one.

It may also have proved up more resources and analysts' NAV estimates may have risen considerably.

For these reasons, I believe in three years' time HUR shares will be quoted in pounds, not pence.

This forum is really deteriorating.

Nonsense posts from cashplus, bartlebobton, jackdaniels and sookma.

I can understand, after reading Sookma's post, Biffa saying he's had enough of this forum.

Hope he changes his mind after the price has recovered.

I'm still adding to my spread bet position.

I think you may be alluding to an earlier post of mine, in which I wrote:

'The big question is: what happened during TOR's talks with interested parties following his announcement that it was all over with APEC?
If they are really interested, why did he resign , and if they aren't, what would a new CEO be able to achieve?'

I think I've answered that partly in my last post:

'I think an inferior offer may have been made, but TOR wouldn't accept it, and preferred to go rather than be accused of selling the company short.'

Of course, an alternative explanation is that although the majors showed interest at first, they decided not to make any offers and TOR finally gave up.

That brings me back to my last question:
'what would a new CEO be able to achieve?'

'I'm out of here as can no longer be bothered to post given the toxic nature of this board. It's a shame as it used to be a great place to exchange information and views.'

Sorry to see you go, Biffa.

I left the SOU BB for similar reasons.
The CEO there - whom I wouldn't in any way compare with RT - was routinely called 'The Failure,' and a crook and liar, and reportedly received death threats.
The lunatics definitely took over the asylum there.
The share price has fallen by about 98 percent and posters are entitled to feel aggrieved, but paranoia took over and even with the shares at a discount of 80 percent to NAV, many posters have actually given up.
There is no comparison with HUR, except for many posters' readiness to believe the worst.

TOR said that PVR did receive approaches from majors interested in taking APEC's place.
I don't think he was making it up.
I said at the time that I thought PVR would have to accept an inferior deal, whereas Manyana said he thought a better deal would be offered.
I think an inferior offer may have been made, but TOR wouldn't accept it, and preferred to go rather than be accused of selling the company short.
I think it would be better to accept an inferior deal and get on with it than face possible oblivion.
If I'm right, why do they actually have to get a replacement for TOR?
Why can't PB do what needs to be done?