Member Info for mcadder

66k share sell just gone through at 25.60p - whether or not to top up again hmm decisions decisions....

I predict a massive bumper RNS is on it's way - this week with a bit of luck!

Remember those gold samples from the spoil heaps of 150g/t a couple of months ago?
Ok that figure is not likely to reflect the typical results we can expect from the tailings as a whole but 10-15 g/t? Now that would be impressive.

If the amount of gold left behind in those heaps by the old timers from over 100 yrs ago is anything to go by, then there are potentially very rich pickings waiting to be found at the previously unmined area of RH, MJ in between the old mine workings where connectivity between the old mines has been proven, and in particular Trafalgar Hill.....

Trafalgar Hill
"All six holes initially appear to have intercepted the main shallow target structure, providing a potential strike length of at least 300 metres and a continuation down dip of over 100 metres"

"Laboratory assay results from the first four holes are expected later this month and will be announced when available"

Nice ;))

I'm hoping results have taken longer than expected because the extent of the precious metals recovered is so good that they want it verifying (he says with fingers crossed)!

I think one of the contractor's has stubbed their toe on a giant slab of gold at RH lol ;)))

I don't need to re-read it. Instead of keeping the well shut in while they try to re-start the ESP they've elected to put the well on natural flow to meet minimum lifting quantity required otherwise they wouldn't have produced enough oil for there to have been a lifting this month. Pretty simple really...

"While these investigations continue and ahead of an attempt to restart the P6 well ESP, the Company has decided to maintain the P6 well on natural flow at a rate of 9,000 - 11,000 bopd subject to surface conditions and settings in order to fulfil the minimum lifting quantity for the next Lancaster lifting"

"Submersible pumps are used in oil production to provide a relatively efficient form of "artificial lift", able to operate across a broad range of flow rates and depths.[3][4] By decreasing the pressure at the bottom of the well (by lowering bottom-hole flowing pressure, or increasing drawdown), significantly more oil can be produced from the well when compared with natural production.
The pumps are typically electrically powered, referred to as Electrical Submersible Pumps (ESP)"

Without an ESP the flow rate will not be guaranteed and will tail off without it, especially in this case at Lancaster.
They may struggle to produce enough oil to meet the minimum monthly lifting requirements at AM without an operating ESP so in my view it's a potentially serious situation if they can't get it back up and running.

And the extremely sad fact for you Hasiba is that you'd rather waste your own time trawling back through my many posts going back nearly 2 months ago to try (and fail) to discredit me when all I'm doing is repeating what the company keep releasing in OFFICIAL RNS'S lol

Perhaps in your case your time would have been better spent properly reading the implications of the Restructuring plan and all the recent RNS'S since the end of April to see where this is going instead of burying your head in the sand.

By the way any shareholder action now is futile

Hasiba - this will still end up at 0.2p - many were predicting 0.1p but I wasn't as harsh as that.

The only reason this is still above 1p right now is because of false hope and the fact this is being pumped.
I've made plenty of money back on far less risk higher return plays than this pile of dog muck.
Nothing of value left here. And that was before the ESP failed. There will certainly be a few more angry posters on this bb soon ;)))

"Conservative 5-6p low ball offer I reckon meanwhile the cash pile keeps building"

And by the way Haisba I stand by what I said here as this is the sort of ball park figure the SP would have been back to prior to the 30th April RNS.

I only post what I mean at the time. But now the restructuring plan will either happen or the company will be wound down - neither of which are value creating for shareholders.

Now Hur is more likely to see 0.2p than 2, 3, 4, or 5p

And what if they can't restore the ESP?? That's a very worrying development if they can't bring it back on line because if production has to stop this will also put bondholders money at risk.

By all means carry on with your fantasy world that "everything is absolutely fine here" LOL

Hasiba - got an answer for any of this? ......

Thought not.....

Let's recap how serious the situation is here now....

"The company reminds the shareholders that as the restructuring plan was approved at the bondholder Meeting by the requisite majority, if the court sanctions the restructuring plan at the hearing on 21 June 2021, the restructuring plan will be binding on all shareholders despite the resolution not being duly passed at the shareholder meeting," it notes."

"Earlier Friday, Hurricane says its P6 well is now on natural flow of 9,000 to 11,000 barrels of oil per day rate after its pump broke. The company's single remaining well at the Lancaster field site, P6, is assisted by an electric submersible pump, which tripped on Tuesday causing the well to close temporarily. Decides to restart the well on natural flow to fulfil the minimum lifting quantity for the next Lancaster lifting, which is scheduled for the week commencing June 14."

"Before the pump broke, the P6 well produced 353,000 barrels, with an average oil rate of 11,370 barrels per day through May. In April the company noted that should the electric submersible pump in the P6 well fail it might not possible to restore it, and the well would have to be run at a permanently lower rate."

13:28 -

Hasiba - that was a lifetime ago your such a pathetic idiot copying and pasting instructions on what people should do - send this to the judge, send that to the judge, send this to the SFO, send that to the FCA, keep bombarding everyone to death blah blah blah - trying to give everyone false hope.
I bet thanks to you the judge has been sick and tired to the back teeth of the constant dross you send. And by the way I am allowed to change my view on the prospects of a company I have shares in - a view which dramatically changed on 30th April following that proposed disastrous restructuring plan.
Shareholders are stuffed whatever the outcome now. And care to explain Hasiba what are Hur going to do IF following investigations they are unable to get the ESP on the ONLY producing well up and running?? You do understand what this will mean don't you? And now we hear about the company producing from natural flow of between 9-11k bopd just to meet the minimum lifting amount of oil required? Do you not understand how serious potentially this is?
Copying and pasting of my posts from a time when I used to be hopeful of a breakthrough with the bondholders before the 30th April RNS is nothing but a desperate attempt by you to try discredit what I'm saying. Don't listen to me - listen to what the company are saying. I'm merely repeating what they are saying!!
People like you are dangerous to those that continue to remain in denial blindingly following you like blind sheep.

Sad pathetic idiot you are Hasiba - never mind posting my historical posts here why can't you answer the questions I put to you before eh? EH? EH?

Answer - because you know I'm right!!!

And no thanks to Hur I'm back up on my money. Let me recap what I posted before...

Don't worry about me jonesrichard I've already more than made back what I lost on this dog. And I'll tell you where exactly - Zephyr energy (ZPHR)
Been back in there since 17th May at 2.85p for a few million shares - closing price on Fri was 4.20p.
Now the bod there certainly know how to generate significant shareholder value and last week they announced dual listing on the US market in next 6 weeks. Potential 1.2Bn barrels of oil in the Paradox Basin.
£1Bn mcap company in the making which sadly is where Hur used to be a long long time ago...

"In April the company noted that should the electric submersible pump in the P6 well fail it might not possible to restore it, and the well would have to be run at a permanently lower rate."

They've been warning this since April but you lot have your heads buried in the sand like ostriches so much that you constantly call the company out as liars for anything they release that is not what you want to hear...

Let's recap how serious the situation is here now....

"The company reminds the shareholders that as the restructuring plan was approved at the bondholder Meeting by the requisite majority, if the court sanctions the restructuring plan at the hearing on 21 June 2021, the restructuring plan will be binding on all shareholders despite the resolution not being duly passed at the shareholder meeting," it notes."

"Earlier Friday, Hurricane says its P6 well is now on natural flow of 9,000 to 11,000 barrels of oil per day rate after its pump broke. The company's single remaining well at the Lancaster field site, P6, is assisted by an electric submersible pump, which tripped on Tuesday causing the well to close temporarily. Decides to restart the well on natural flow to fulfil the minimum lifting quantity for the next Lancaster lifting, which is scheduled for the week commencing June 14."

"Before the pump broke, the P6 well produced 353,000 barrels, with an average oil rate of 11,370 barrels per day through May. In April the company noted that should the electric submersible pump in the P6 well fail it might not possible to restore it, and the well would have to be run at a permanently lower rate."

Hasiba - that was a lifetime ago your such a pathetic idiot copying and pasting instructions on what people should do - send this to the judge, send that to the judge, send this to the SFO, send that to the FCA, keep bombarding everyone to death blah blah blah - trying to give everyone false hope.
I bet thanks to you the judge has been sick and tired to the back teeth of the constant dross you send. And by the way I am allowed to change my view on the prospects of a company I have shares in - a view which dramatically changed on 30th April following that proposed disastrous restructuring plan.
Shareholders are stuffed whatever the outcome now. And care to explain Hasiba what are Hur going to do IF following investigations they are unable to get the ESP on the ONLY producing well up and running?? You do understand what this will mean don't you? And now we hear about the company producing from natural flow of between 9-11k bopd just to meet the minimum lifting amount of oil required? Do you not understand how serious potentially this is?
Copying and pasting of my posts from a time when I used to be hopeful of a breakthrough with the bondholders before the 30th April RNS is nothing but a desperate attempt by you to try discredit what I'm saying. Don't listen to me - listen to what the company are saying. I'm merely repeating what they are saying!!
People like you are dangerous to those that continue to remain in denial blindingly following you like blind sheep.

Believein, kainos, aprrogerson, chisler, kewben et al ..... we're in for a great week here ;)))

And I really feel for those that bought in on the back of the Saipem contract win when this spiked to almost 54p - more than DOUBLE the current SP!!
What is clear is that the SP didn't even stay beyond 45p for more than a day following that announcement and the reason for this I feel is clear - some were clearly aware (possibly II's) that a placing was being talked about or worked on at the time as it was probably known at that time that a PB would have been required for the contract, hence it allowed some to exit and just wait to see what happens to the SP before deciding whether or not to get back in.
There is upside from the current price BUT material progress needs to be coming and quick imo. Make or break time imo

I added another 79k shares yesterday between 26.15 - 26.20 yesterday - I hope for JW and AR's sake they are intending buying substantially more next week to make those pitiful purchases seem not so embarrassing lol.
Any director buys have to be notified on the day like yesterday so if they do decide to add more on Mon we'll know on Mon. But a reasonable amount imo is 100k shares MINIMUM otherwise it just sends a message that either they are not confident about the prospects of the business going forward or they are just plain ignorant...

The longer the wait for those results the better they are likely to be when they arrive.

I can't help but think that Gemma now on board who is a geology manager with GGP - yes Greatland Gold ;))) may have something to do with this delay of the long awaited results. 2 things stick out with this paragraph....

"Drill cuttings from the reverse circulation rig are currently being analysed at an independent laboratory in Nevada to assess the gold and silver content of each of the drill holes. Results for each target area will be announced once they have been analysed in-house"

"assess the gold and silver content" - so it sounds like they have come across gold and silver in the drilling to state that bit. Question is how much....

"once they have been analysed in-house" Wonder if Gemma has something to do with this?
Plus why would she bother taking not only an interest in Great Western's prospects out in Nevada but also want to join as a NED?
Something very special is going on behind the scenes here I feel and BH and co are doing a very good job keeping it underwraps - the gold that is lol

This was and has been on the cards for month's yet you deluded and heavily invested lot are too fixated on copying, pasting and posting about letters to the judge, the SFO, takeover panel, Nicola Sturgeon, the OGA to name a few than take any notice of what is happening here. The wind down is underway from the looks of it...