The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I see that some of them have been shorting HUR in the recent months
Many thanks DiveCentre.
Now question is who has any connection with CA, Saba and who is under financial pressure to sell their bonds now.
imo this is a game changing update and hope they will buy back a lot of bonds. Back to 4p+ if they bond holders agree to sell, no questions about it.
Do we know who the biggest bondholders are?
remember Tullow Oil at 7-10p not that far ago? New bod can clean up that mess and many small shorts buying back can lift the price significantly here. Absolutely love the news today!
50% for CA, but for the new investors it can be even 500%.
If HUR survives, which is very likely at oil prices c. 70USD, then I am expecting share price to go up to 15-20p. Return from investment will be huge and CA will get their month back no question about it.
Cashflows from continued operations (until May 2022)- 71m
Mcap today c. 50m
Where do you see share price if they manage to buy back all the bonds before deadline in June 2022? Can you see it over 10p?
That is a smart decision, a big step forward. We can assume that they will buy back 115m bonds. This will leave them with 115m bonds on the market and 60m cash. If oil price will stay at todays levels then they will be able to buy back rest of bonds in 2022 using cash from the produced oil.
USD 100m term loan would be much better than takeover
They need to change the me up with some exceptionally good RNS to move the price above 4p. Next month update will be much better so I can see an increase to 3p in 2-3 weeks.
I like the update too. Panic last week, but buying should resume. Next update will show a lot of oil again.
9800 bopd - if licence is revoked then the gov should pay some reimbursement fee to us in my opinion. UK lawyers only waiting for this to happen.
How much did the Hurricane spent so far on Lincoln area study and drilling?
In the event of licence removed by the gov, should we expect all the money paid back automatically to us from the gov side? Because if yes, then this news could be very positive as there are no active wells in the Lincoln area, am I right? :)
Provident said to own customers you accept the low reimbursement or we will liquidate the company and you will get nothing back. Customers agreed, court agreed.
Not the same here, but if they say to bondholders that the company assets and cash will not give them all money back then they can possibly agree to guaranteed 70% back now than unlikely 70% in one year.
Good man, strong reason to issue a letter to all bondholders to urge them to sell at 30% discount today to keep their chance to recover 70%. If they won't agree to sell at discount today they may get back only 30-40%.
Another option could be to check if the existing bond can't have its maturity date postponed and coupon rate increased.
All PI's need to do is to stop selling if they are in a loss. CA will takeover HUR before November imo.
CRS holders should be buying HUR shares and keep so the share price goes up. Win win for both companies this way.
News should be out soon
Current average is lower than 19.3p as between 30th of June and now CA increased stake by 3% loading up for around 3p per share.