Member Info for MaverickD

17p+ finish as this will be bought up

Agreed and watch buyers loading up

Will move higher into the close for sure

Moving up nicely now - taken out any sellers and next stop should be 16/17

Over......back to buying managed to get more at 13.2

I think a 17p finish, but yes about that range 17.5-18p

13.7 to sell 13.8 to buy....

There we go spread sorted

All buys at the minute - MMs masking trades using that spread 13.89 to buy

Its filling on the way up......

Gap fill completed there is one at around 17-18p and I think thats what we will go up and fill next

No they probably sliced and now want to add - simple really

Looks like buyers out in force at these levels

Tomorrow hopefully........phase 3 in place I have everything crossed

I think they have more than enough cash to perhaps buy 40% of the bonds with the 37% discount applied and have enough to sustain the business. They can then look to buy further bonds down the line. The debt can be refinanced and CA will perhaps know that they can assist on this front.

In its update last week Crystal Amber said:

During July 2021, Crystal Amber has been in regular dialogue with the newly constituted board of Hurricane. Since September 2020 (when the convertible bond was trading at a 70 per cent. discount), Crystal Amber has urged Hurricane to use a significant proportion of its cash to buy in bonds. The High Court of Justice stated that "the possibility of buying back bonds in the market is, on the face of it, an attractive one, given that the Bonds have been trading at a substantial discount to face value." On 5 July 2021, the bonds were trading at a 50 per cent. discount but the discount has recently narrowed to 37 per cent. Crystal Amber has requested to the board of Hurricane that it immediately embarks on a substantial purchase of these bonds. As well as saving the payment of the annual interest rate of 7.5 per cent., buying back bonds at a discount, will significantly reduce Hurricane's net indebtedness.

Exactly - hence why CA are increasing their stake at these levels. Oil will climb higher as demand returns. Perfect storm.
As CA have previously stated the key is buying those bonds on the cheap!

on the Buy side........ expecting this to tick up. Wonder if we will get another holdings RNS re: CA

They are pushing the offer price up sharply........

Yes they are loading up I believe await another RNS - gap filled now and brent will pop up on data later tonight and EIA tomorrow