Member Info for mcadder

No if they decided to suspend it would likely be after the court hearing and depending on what happens today...

Er....yes Blair peach that's why it's a BUY

Sometimes buys show as sells and vice versa but I'm sure you already knew that lol

The SP moved up following that large buy not down so there's your other giveaway....

Slift - that Marcus-Antonius clearly is obsessed with me lol.

He like many others should have been more focused on how shockingly bad this company has performed over the last 2yrs to the point now where they are in financial difficulty and shareholders on the verge of wipeout. If thing's weren't so bad we wouldn't have reason to be so negative and continue to be.

It's been left far too late to try and salvage anything imo but yes Marcus you keep calling us out for the fact the bod failed shareholders and the company so spectacularly LOL

Huge 1M buy @30.90p just popped up from 11:59 today. Best part of £309K nice....

Oil going in the wrong direction - now below $65.50. 2 possible outcomes tomorrow, one could result in the prospect of just 5% of the company or 0% if the plan doesn't proceed...

Quite possible. Maybe either suspension or 0.5p - take your pick...

And now the inevitable dump - wouldn't even buy at 0.2p thanks to that restructuring plan

Be nice to think they may get at least one MOD ship contract. For anyone that watched the presentation there was mention that 17 representatives from the MOD were at Harland and wolff the week prior - make of that what you will...

Nice little update - just need them results, fingers crossed

AnusUK -

Your welcome. Still going ahead I see....

AnusUK -

Your welcome. Still going ahead I see....

Further to the practice statement letter published by Hurricane on 30 April 2021 in connection with the restructuring plan (the "Restructuring Plan") proposed under Part 26A of the Companies Act 2006 (the "Practice Statement Letter"), the Company confirms that the Convening Hearing relating to the Restructuring Plan will take place on Friday 21 May 2021 at 10:30 a.m. (London time) before Mr Justice Zacaroli, with case number CR-2021-000852. Attendance at the Convening Hearing will be virtually via Microsoft Teams in light of the COVID-19 pandemic.



The Convening Hearing is for the purposes of seeking an order making certain directions in relation to the Restructuring Plan including permission to convene a single meeting of Bondholders for the purpose of considering and, if thought fit, approving the Restructuring Plan.

Campaigners urge Government to give £1.5bn supply ships deal to British workers
EXCLUSIVE: Ministers have vowed to relaunch the competition for the Fleet Solid Support vessels this spring

BY BEN GLAZE
21:00, 19 MAY 2021

Campaigners tonight piled pressure on ministers to hand a £1.5billion contract for three warships to a British consortium.

Industry insiders believe Defence Secretary Ben Wallace is poised to relaunch a tender for a trio of Fleet Solid Support vessels.

He previously said firms would be invited to apply for the bumper contract this spring.

The competition is set to become a tussle between a UK group of companies backed by the Keep Britain Afloat campaign – which includes Bab****, BAE Systems, Cammell Laird and Rolls-Royce – and Spanish rival Navantia.

It has teamed up with Belfast-based shipyard Harland & Wolff, which built the Titanic, to bid for the deal.

in October, Mr Wallace delighted campaigners by officially designating them as “warships” – meaning they can be built in Britain without allowing overseas firms to bid.

GMB union national officer Ross Murdoch said: "The restart of the procurement process is not just needed – it is long overdue.

“Ministers must end the delays that have dogged this programme because our yards are crying out for work.

“Ministers talk about supporting UK shipbuilding, but they are setting UK yards against each other.

“Despite the grand words about making the UK into a ‘shipbuilding superpower,’ there is still no requirement that the bulk of the work will be fulfilled domestically.

jones - there is no buyout coming your ramping is just as bad as the other loons - the current bod will still be in place post the restructuring plan being approved. And even IF the bod are replaced in the next month the mahoosive $230M debt is still there and it still has to be paid by July 2022 otherwise they will default.
The oil is no longer there thanks to a much shallower OWC and now only 7M barrels recoverable. Either oil would have to be at $100 for the next 12 months or production be at 15k bopd to stand a remote chance of paying off the debt and we know that ain't happening.
There's liabilities and decommissioning costs to take into account and that doesn't even begin to address the huge investment required to prolong production.
With production from just one well and now from only the upper ESP there remains a risk even with the $50M debt write down that the debt may not be repaid.....

"Should the upper ESP in the P6 well fail in the future, there is a risk that the lower ESP cannot be restored to full function, in which case the Company might need to flow the well at lower rates"

Don't kid yourself that today's update is suddenly the answer to the problems here. The problems remain and still need to be addressed whoever is sitting on the bod. That debt is not going away....

I think there's quite a few doing a good job digging holes for themselves here...

You forget regardless of how many shareholders complain the law is the law and they don't need shareholder approval/vote.
And what if it turns out that the oil just simply isn't there anymore just like they've been warning for the last 8 months. If it turns out indeed that there is only 7m recoverable barrels then no matter who is sitting on the bod it ain't looking great....

"NT to buy"
"This is about to move up"
"They want your shares" blah blah blah

This is just being massively pumped and will all end in tears. Even if the bod got ousted which we touched on a couple of weeks ago there's still the slight issue of $230M debt and production from just one well which continues to decline.
As much as I admire CA for what they are trying to do the problems are still there whoever is one the bod. The convenants attached to those bonds are likely a big problem as well hence the plan that's being heard at court on fri

Last few breaths from this dog but the end result is still inevitable

This should have been done months and months ago, too late now the damage has been done....

Prince Charles follows in his father’s footsteps at Belfast shipyard
Prince of Wales recreates a photograph of the Duke of Edinburgh – albeit with added hard hat – as he meets workers on Northern Ireland visit

By Victoria Ward
18 May 2021 • 7:36pm

....."Showing an interest in the future of the business, he was shown automatic-welding machinery before unveiling a plaque to mark Harland & Wolff’s 160th anniversary."

..... "He described the new activity and opportunities as “really encouraging” and said he hoped it might inspire more young people to become apprentices and understand the importance of manufacturing."