Member Info for Mals1960

Oldman, we used to have Slift here though, he seems to haunt Tallow nowdays.

I wonder why the UK Government doesn't offer to buy the tax loss reclaim availability at a steep discount if it's likely to be sold at a steep discount to any potential buyers. It seems a no brainer, much like the fact that our esteemed BoD should have bought the bonds back when their value plunged.

Sense,

deal price lower to take account of returned cash.

Unless someone slippery is looking to grab the free cash and offer an equity swap in its place together with a promise of continuing pay for our favourite two original Bods.

I'd be surprised if we get an offer in double figures too. We would be better off continuing as we are and receiving a 3p payout every now and then.
That said a little information from the BoD would be welcome If we are to receive up to 3.1p before the end of March.

Jimmyg1, Why would you jump now? we have the equivalent of 6p in cash plus 1p in escrow today and in the next 27 to 30 weeks we'll probably have another 3p from the next 3 uplifts.

Where there is risk there has to be a potential reward. If the offer is 10P plus an extra 2P after a number of additional lifts then I'd vote no and take the risk and possible reward myself.

I have a response from Hurricane. Good luck All.
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Thank you for your email.
The current interpretation is that the Cretaceous and Jurassic sandstones may already be being produced from the Lancaster Basement wells both in the toe of P6, which is open across the Jurassic, and also through oil “migrating” into the general fracture network and then produced.

as Daltry suggested I've emailed Hur with the question,
Does the Sandstone oil dribble down into the Well 6 catchment zone or is it thought to be a sealed volume sitting above? I remember an old RNS talking about Water injection sweeping Sandstone oil towards the wells or something like that. If it doesn't reach well 6 now, how did they know that the sandstone had oil?

Does the Sandstone oil dribble down into the Well 6 catchment zone or is it thought to be a sealed volume sitting above? I remember an old RNS talking about Water injection sweeping Sandstone oil towards the wells or something like that. If it doesn't reach well 6 now, how did they know that the sandstone had oil?

They advised on a RNS Months ago that they may pay up to 3.1p per share after a successful court hearing, isn't that enough?

I don't blame Dr Trice so much, he got carried away and well 6 seems to be a lot better than feared even if it is sandstone oil that is supporting the production. Well 7 obviously is a great disappointment.
My evil curses are reserved for the members of the old BoD who tried to give 95% of a going concern to the Bond holders, some of whom I sure were taken by surprise by their potential windfall.
There must be minutes of meetings between the old BoD and key bondholders who worked together to attempt this cruel scheme. I wonder if the minutes will ever get released? we need a whistle-blower.

Is the offload to a tanker occurring?

Oh thanks Dive, that's my theory sunk

Are BP needing to get Rotterdam up to speed ASAP and need Hurricane (and others) oil delivered quickly.

https://uk.finance.yahoo.com/news/bp-accepts-labor-deal-rotterdam-133201350.html

Can we get back to Hurricane chat please. I'd guess that we're due for an off load this coming week.

As CA, who own nearly 30%, have requested monetisation, I think that the BoD will look more favourably on the dividend route rather than Share buybacks.

Does anyone have an idea how many shares Dr T had?

In fairness all the available cash was allocated to Bond repayment when the share price was a few pence. This stopped the Bond holders grabbing 95% of the company.

A few years ago there was talk from the old BoD regarding Water injection to increase the life of the wells. Any thoughts on if it could be back on again?

I'd imagine that CA would want a special dividend to pay at least some of the promised £60 Million to their shareholders.