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I did the same broomtree. Holding ans hoping this deal has leggs
Is working from home any excuse here? In my company working from home is properly monitored and productivity is same as in the office
NSTiger,
You only have to wait a year to receive all 7.50 back.
It is worth to keep your shares while they are trading at 7.50 only
7.50 is no brainer. Difference 1.50 will be returned to you before October next year assuming P6 is operational and we all believe here it is and will be.
Many retail holders make emotional decisions and sell while calm Ophorst hedge fund is adding cheap. Main reason it is still at 7.50.
If retail will stop offerring shares cheap, Ophorst will be paying more.
It was all against us lads, let's face it and I'm still angry with the outcome as I would prefer an independent company with proactive bosses and plans. However as it is all different now, a new ownership soon, no point to be longer carried away with emotions.
I've analysed chances of turning 7.50p into 12.50p with MY skills and they are much lower than turning 6p into 7.50p.
There will remain a high possibility of receiving 1.50p back from P6 before October next year.
As we all believe in P6 well remaining operational, this amount is very likely.
Selling shares at 7.50p just doesn't make sense to me. I would understand selling them for 8.50p or if folks are under financial pressure.
Have to say that many many times I was 15-30% down and had to wait months for the recovery in the share price. Stock market is unpredictable.
If Prax is fair with their plans and will buy a producing asset soon after Hurricane's, then 4.50p extra should arrive pretty quick.
At 7.50p per share there are still more chances than risks in my opinion.
Best of luck lads.
If you have any ideas where to safely invest and generate 100% return quicker than here, please say
Per my understanding it will be the Court Hearing Date some time in June.
Court Sanction Hearing A date expected to fall before the end of Q2 2023 ("D") ---------------------------
Last day for dealings in, and for the 6.00 p.m. on D registration of transfer of, Hurricane Shares
---------------------------
Scheme Record Time and record date for 6.00 p.m. on D the Special Dividends ---------------------------
Disablement in CREST of Hurricane Shares 6.00 p.m. on D
---------------------------
Effective Date of the Scheme(7) D+1 Business Day
---------------------------
Cancellation of admission to trading by no later than 7.30 of Hurricane Shares on AIM a.m. on D+2 Business Day
Court Hearing in June
Court Sanction Hearing A date expected to fall before the end of Q2 2023 ("D") ---------------------------
Last day for dealings in, and for the 6.00 p.m. on D registration of transfer of, Hurricane Shares
---------------------------
Scheme Record Time and record date for 6.00 p.m. on D the Special Dividends ---------------------------
Disablement in CREST of Hurricane Shares 6.00 p.m. on D
---------------------------
Effective Date of the Scheme(7) D+1 Business Day
---------------------------
Cancellation of admission to trading by no later than 7.30 of Hurricane Shares on AIM a.m. on D+2 Business Day
You cannot vote online?
"It's saying that 6.02p will be paid out as dividends (I.e., the SD won't be added to the DCUs but instead paid out as a dividend)."
Which is good.
We know Hurricane is not limited to P6 but BoD telling us it is :)
Of course we should get more, at least DCU cap should be set higher and not at 6.48p only.
Why? If oil prices will move up by 10 dollars then we will see that 6.48p generated pretty fast by the P6 well alone.
If that happens then any outcome from the utilisation of the tax losses of 300m!!! will no longer apply to exHur shareholders. We will gove Prax 300m in tax losses for free.
True. And they got these 2% of all shares at low level. People are selling at 7.50 but should be at 8+ to make them pay more
RodneyT,
with government returning 91p from every pound invested in exploration and drilling, the time is just fantastic for expansion.
Prax should then offer us 17.50% without 6.48p cap and extend payouts for more years. It is hard to believe they will bring online any new well before 2025 and if yes this will leave us with small chances for any returns.
After sale date we will get from Prax 17.50% of future net revenue from P6 well:
2023 - 0.27p in September
2024 - 1.21p split in two
2025 - 1.13p split in two
2026 - 0.35p split in two.
Do you think that Hurricane as Hurricane could generate much higher NET revenue from P6?
If yes, what are the most possible figures considering no pump failures amd steady decreasing production?
Then how is possible that other offers were priced lower than 0.83p upfront payment per share plus only promise of 17.50% of revenue from already drilled, already installed, producing well?
Plus we are giving them up to 14p in tax losses. Come on lads. What da f.. is wrong with this "management". Crystal Amber and Kerogen. Shame on you.
Wondering why there is a cap of 6.48p and why Prax is going to keep 82.50% of net revenues from P6 until 2026.
I feel that 0.83p cash consideration (amount to be paid by Prax to buy Hurricane) will be fully reimbursed to Prax with just one lifting :) lovely