Member Info for mcadder

"Do try harder"

Denseboy - maybe the company should try harder lol

0.2p incoming

"and that is why a petrified BoD approached 2 major shareholders with a rejected 'cross-the-wall' keep stumm if you join us offer?"

No Captain senseless - it's because they are totally out of options. No financing coming to the rescue.

0.2p incoming ;)))

The only scam Senseless sid is the one's that keep ramping that this is a scam

AND PERHAPS READ THIS CAREFULLY??.....

"one major shareholder has held discussions with the Plan Company, but this shareholder has not undertaken, or given any indication that it would
be willing, to provide additional financial support sufficient to dispense with the need for the
Restructuring."

So any alternative financing plans proposed??
Nil, zero, zilch. The silence is deafening. There is no alternative as no one will offer any financial support imo

You do realise that given the dire situation with Hur and the legislation that is being used to bring the restructuring plan to court that, by you trying to stop the court from hearing or granting the restructuring plan (not that it would ever succeed) that it would just force the company into a controlled wind down and insolvency??!!!

So you end up with 0% as opposed to 5%??!!!

Crack on in that case but the only winners here will be the bondholders in either scenario and given that 83% of bondholders (as of Thurs) have accepted it above and beyond the 75% required, and given that shareholder approval is not required the court does not and will not need to take into account of any shareholders views. The recent legislation serves to deal with dissenting classes (including shareholders) so the law is very much on the side of creditors no matter how many shareholders write in to court!!

Up s**t creek without a paddle comes to mind

This bit is very significant imo....

4.27
"In light of the terms of the Restructuring and, in particular, the significant dilution of the Plan
Company’s existing shareholders which will occur as a result of the Bonds Exchange, since
April 2021 the Plan Company has sought to engage with certain large shareholders, in order
to ascertain whether they would be willing to engage with the Plan Company in relation to the
terms of the Restructuring or otherwise provide financial support to the Plan Company. As at
the date of this Explanatory Statement, one major shareholder has held discussions with the
Plan Company, but this shareholder has not undertaken, or given any indication that it would
be willing, to provide additional financial support sufficient to dispense with the need for the
Restructuring"

And no one would be willing to provide additional financial support given the financial difficulty the company is clearly in.

Proactive oil and gas weekly highlights: Touchstone, Bahamas Petroleum, Advance Energy, Mosman, Union Jack Oil, Hurricane
2021-05-15 09:00:00
"It was another active week in the junior oil and gas sector."......yeah active in one sense for HUR!!

"Hurricane Energy PLC (LON:HUR) announced a financial restructuring that features a debt-for-equity switch that will massively dilute the value of existing shareholdings.

A deal struck with a 69% majority of the group’s convertible bond holders will see some US$50mln of the total US$230mln debt swapped for new shares in the company. These refinancing shares will equate to 95% of the group’s fully diluted pro forma equity immediately following the restructuring.

The bondholders – and subsequently the majority owners of the company – agree to amend the terms for the remaining US$180mln of outstanding bonds to extend the maturity date out to December 2024."

Just let that 95% dilution of the company sink in. 0.66p close on Fri. This has a lot further to fall....

Captain Senseless - the turd who's run out of ammo I see. Remind me where's the SP? 0.66 you say? Speaks for itself doesn't it lol

"Slift. Have you ever been sectioned under the Mental Health Act?"

Another question.....should the deluded poster's that believe the company is in great shape, believe that CA will come to the rescue and believe the whole thing is a scam be sectioned under the Mental Health Act??.........no answer required lol

"The share price is where it is cause of all the negative RNS’s put out by the dodgy BOD"

Yes they are indeed "negative" but they are a reflection of the state of the company.
The nomad has to be satisfied of the accuracy of ALL information prior to release. So if you say the bod are corrupt then the nomad would be in on it too??!!

If at any point there was any suggestion of fraud by the bod you do realise that the nomad would have no choice but to resign as the company's nomad with immediate effect. And trading would be suspended on the day of such an announcement.
Which hasn't happened! Why? Because there is no fraud!!

Clearly everyone believes the rationale that this is a scam and the company are not in trouble whatsoever and that's why Hur closed down at an all time low of 0.66p lol

Did you know that you can buy 6 small lego houses with 103k shares?! ;o)))))) lol

Well.. I would take Hurricane reserves half full view.. but it's 90% empty....agreed and this is still over valued by around 6-7 times given the amount of shares that will be hitting the market once the plan is voted through.
Value post dilution potentially only 0.1p per share

Is now available to watch

https://youtu.be/IeUzy_Y1Oe8

Down again it goes you can't say you weren't warned...

"So sure, keep pretending the company is a mansion full of diamonds when it's really a shack on fire."

Lol

I'm aint trying to be funny senseman as we have you and numerous other deluded posters providing us with valuable content to make us laugh and keep us entertained ;))

And by the time this reaches court slift the bondholders in agreement for this restructuring plan will be 100%.

The continued defiance of some that this has been and is a "scam" is truly astounding.
You only have yourselves to blame for risking losing everything.

Under the Company's Act 2006 and especially with the recent changes to the legislation that makes the process easier, more straightforward and more favourable for the creditors, this will be a very easy decision for the judge that hears the case...

Didn't you know Captain senseless?

I'm a survivor and your the one who believes like on this forum that you're the captain of the ship. And you know what happened to him??!!

Remember when the titanic sank and the noble gentlemen went down with it while the band played. This is vaguely familiar to that - only in very slow motion as the ship has been taking on water for the last 18 months. Question is how many will get off it before it disappears below the water?