Member Info for mariog

That confirm again an indea about splitting Hur into A&B and selling Hur B to Prax with Lancaster, taxes and all. Hur A to remain listed and to collect DCU and 17.50% on behalf of shareholders like under todays plan.

Main reason the Hur A and Hur B makes a lot of sense!

Littlened,
this way Prax would only lose 10% of tax losses (if by law is possible to split the tax losses). If not possible to split tax losses then Prax will tske all 100% (this is what they want). If Prax will lose bit of tax, then they could negotiate divi level paid every 6 months to Hur A.
Hur A would keep the 17.50% net revenue from Hir B option (which we all now have been told to believe in) which has a chance to generate a substantial lump sum.
This is a gooe idea to explore in my opinion. Mayter of finding a company to takeover for max 50m.

The whole idea behind that Option/Plan B is to retain listing of the Hurricane company (Hur A) under new management brought from the taken over company. I wrote this quick before bed time, but the longer I think about it now, the more sense it makes, especially when both sides would get (in 90%) what they want. Long term Hur A could also grow allowing you to sell shares at higher price. Hur A would gain a producing well or wells and new licences etc.

I forgot! Under current agreement Prax will be paying us a divi if the Lancaster is okay. Hur A could be receiving this divi directly. This way not only a divi from a taken over company could be paid to us say from 2024 but also from Prax via Hur A.
People would not have to worry about ISA or what to do with cheques received twice a year from Prax etc.
Another additional value that I have not mentioned would be a share price alone.
Hur A after paying 2023 divi would go down to approx 3p considering it as a cash shell for a short period of time. Buying another company will make the 3p stronger as we would be back as a producer and would be investing £1 to receive 91p. You could sell tour shares at any point!
Existing shareholders happy, Prax happy.

I am a genius, should be appointed as a non-executive straight away :)!
Good night.

1p divi to all would need to be coming from a well or wells generating approx 14m pee annum. Unsure but maybe there is a company that needs 50-60m cash ASAP and is generating 14m. Matter of doing a proper research.

What if Hurricane could split into Hur A and Hur B and proceed with that Prax deal?
Hur A retaining unrestricted 140m cash.
Hur B left with Lancaster, licence, restricted 60m and 90% of tax losses.

Prax buys Hur B, pays 2p per share to Hur A and additional 1p after next offload, offers DCU directly to Hur A under same conditions 17.50% etc or slightly amended.

Hur A to pay divi 3.3p to own shareholders in 2023 from own resources and 2p received from Prax later this year.
Hur A to retain 10% ( 30m) worth of tax losses and with own cash can takeover some existing cheap producer with ageing urgent debt to clear. Hur A to clear that debt immediately. Production delivers divi 1c per year from 2024 paid to Hur A shareholders.
Same time Hur A can spend £1 investing in a new project and receive back £91c. Kind of new beginning with new CEO arriving from the taken over compang.
DCU miraculously delivers additional 100m. Hur A to share that cash paying a special divi of 3p some time in 2025.
Hur A keeps remaining funds, investing paying annual 1p divi and in 2026 we have 11-12p back. Maybe even more cause company have been drilling in the meantime.

If we vote No, then we will immediately see Prax offering more upfront cash to us ans another vote.

Flying,
You are wrong. They will not pay 250 or even 110m.
Look again and you will see les than 1p which will be covered by Prax. Rest is Hur's money.

Do they have to vote at all?

I will vote NO if nothing changes or will sell all if it miraculously moves to 10p before the deal date.

Have they ever explained why they are rather willing to sell Hur than takeover another compant themselves or take a new project?

Yes, that's why the BoD should have been replaced & change strategy to a proactive one, buy some asset, licence, spend some money to get 91p back from every £1 and continue as Hurricane. Tines are no better for that

Thanks for yoir time explaining.

In this case the equivalent of 2p will be held as a contingency and transferred to Prax.
Then there is also USD60m restricted. Is that 60m not enough?

No deal - 3.32p paid to us by Hurricane in 2023.
Deal - 5.19p paid by Hurricane in 2023.
There is an additional offload so where will go the difference of 2p on a sale day?

Kooba, in my email I wrote :

Please re-calculate and amend OR explain how each value is delivered: 3.32p in 2023. Future Years (0.83p, 2.07p, 1.94p, 0.00p).

Have not received any reply.
My concern is that unrestricted cash currently in 2023 is way exceeding 3.32p. I just need to know what is going to happen with the remaining money on a sale day. Prax should not get them but us, shareholders. Would you not be happier with extra 2p from Hur and some extra from Prax for on the top of their generous 0.87p?

Thanks for the advise. I will send them another email in a few days again. Correct, received notification that my chaser has been classified as a spam.

Still no reply from anyone I have included in my email.

Ant opinions about that? Why there is a cap and why at this not a higher level? Surely this can be amended up to please shareholders.

Why capped at this level, anyone knows?