Member Info for mcadder

No problem guzzibear!

Mr Dense a real shame you insist on refusing to answer a simple genuine question by not just me but other genuine posters, and continue to rant and attack. I'm sure many here would have liked to have known if you've heard back from the SFO regarding HUR. That suggests to me that you haven't then.

At least I've been consistent on my thoughts over HUR for the last week since the last RNS. And at least I have the decency to remain civil unlike you.

Initially you may have gained the support of a decent group of people on this bb by encouraging shareholders to contact all the relevant British authorities regarding Hur the other day.
But today I think you have finally alienated yourself on this bb as a result of the numerous incoherent, childish, insulting and immature posts, most of which don't even make any sense.
At least by using my whole 2 brain cells I was able to convey an honest and transparent summary of the current situation that was straight forward to understand.
The majority of your posts read as though they were written by a complete half wit with less than half a brain cell. If I am wrong about your intellect, then you actually need help. A lot of help. And fast.
If it's at all possible for you to be civil just for once I note that you have 600k shares and you mentioned the other day about getting in touch with the serious fraud office. Have you received a response from them?
Serious and mature replies only if you are capable of that....

Skystocker - no problem at all, some of us will continue to post to provide a sense of realism of the situation Hur is currently in despite the incoherent and raging fool Sir Dencelot who thinks he can attack and attack and sound out our valid opinions.
Looking back on things I'm not at all surprised Trice left abruptly after insisting on several occasions that the water was perched when clearly it wasn't with a water cut as high as 28%. Plus the potential oil/water contact having turned out to be much shallower and the eventual 90% downgrade in reserves.
If anyone should be raging or angry it's with him not us. Ultimately his interpretation of the data was at odds with the rest of the bod but in no way means this was a scam, but potentially a serious error of judgement costing many many shareholders their life savings.
The debt would never have been a problem and would have been on target to be paid back on time if production could have been maintained anywhere between the 15-20k bopd area.
HOWEVER as we all know following the extensive technical review and 90% downgrade of reserves which was devastating in itself, Hur also had to accept that from the data and behaviour of the wells that production had to be cut back to keep the water cut at bay. Since then the well has been pegged back to 11k bopd to keep it stable with an estimate of 8.5-10.5k bopd for the rest of 2021.
Given this "material" change the bod couldn't simply ignore it and along with many other factors to take into account led to the conclusion that even in the NFA scenario they would not be able to pay back the debt and there will be a technical default on the debt due July 2022.
It has to be remembered that on average bopd will drop to an average of 9.5k bopd this year not including any possible well shutdowns so oil prices will have a very limited effect now.
The company admitted that last year during low oil prices they were operating only at breakeven for a period of time and the whole of 2020 will have impacted their ability to build up cash flow.
So if oil prices in 2020 had remained between $60-80 OR if production wasn't declining from over 15k to 9.5k bopd then Hur would have been ok. But this simply is not the situation. The current cash plus cash generation over the next 12-14 months simply will not be anywhere near enough before the debt is due.
Quite simply the current bod having reviewed the overall situation backed up by the extensive technical review of all the data are out of options. And "other sources of financing" will not be available imo until the debt is paid off because no one will touch it.

The other day it was mentioned about emailing The Takeover Panel, the Serious Fraud office and the Sun newspaper to name a few.

All quiet on that front.
As of yesterday we had confirmation from 2 posters who had received a response back from the Takeover panel that the situation with Hur did not come under their code and so far I've not seen anything in the Sun or any other newspaper, only the articles from last Friday on the back of the RNS.

Be interesting to see if anyone posts about any response from the SFO....

Mr Nonsense can't answer it but just explodes into one mahoosive rant when put on the spot.

Another ranter to add to the zero credibility list

As for CA my view is they have the same number of options as they did last Friday. Zero.

PART 26A Companies Act
"Arrangements and reconstructions: companies in financial difficulty"

(1)The provisions of this Part apply where conditions A and B are met in relation to a company.
(2)Condition A is that the company has encountered, or is likely to encounter, financial difficulties that are affecting, or will or may affect, its ability to carry on business as a going concern.
(3)Condition B is that—
(a)a compromise or arrangement is proposed between the company and—
(i)its creditors, or any class of them, or
(ii)its members, or any class of them, and
(b)the purpose of the compromise or arrangement is to eliminate, reduce or prevent, or mitigate the effect of, any of the financial difficulties mentioned in subsection

Shareholder approval not required.

"he's getting a good kicking"

Err no still standing here waiting for you to reply why you think this is a scam.

Senseman's words...."I haven't 'ranted' a word all day" that's very funny

Ah istock perhaps you could shed light on why this is a scam as Mr Senseman seems unable to explain himself all of a sudden even though he's been calling this a "scam" nearly all day?

So no proof then.

Considering you've been ranting "scam" all day long.

Just another poster full of hot air, thanks for helping me to confirm that ....

I wasn't aware this was an argument more of a debate between the sane and clinically insane.
Perhaps you might like to describe to us in language even you can understand the "scam" in your words and your proof you have?
Maybe you can comment here in detail about it so the bod see it and sue you for defamatory and slanderous remarks?
It's over to you Mr Dense this should be good....

Call us whatever name you want. I'm far too thick skinned to worry about it. But on the subject of names Dense not Sense is a more appropriate word to describe you.
Given that the horrendous RNS on Fri had to be authorised by the nomad before release so if it was in any way untrue then both the bod AND the nomad would have got into hot water with the regulators and trading most certainly would have been suspended.
It still could be suspended very soon if the court do not accept the plan. Not our fault you can't accept the truth in the RNS....

Stake or no stake we can still comment here. Unfortunately it is the fault of nobody but the company for giving us so much to discuss here and not one jot of it in any way positive.
That RNS a week ago was horrendous. The final straw for me to sell out.
Nothing from CA a week on and 2 weeks today before the court hearing. Yes indeed the previous bod should be ashamed of letting it get to this stage. The current CEO has been left with the task of finding a way forward but have been left at a major disadvantage when it came to negotiating with the ad hoc group of bondholders. The oil is not there. The production keeps declining. The debt is massive.

RNSTranslator - its sad that Mr Denseman and quite a few others still can't accept the reality - their loss at the end of the day.

Apple my own intention is only to remind folks the implications of this restructuring plan and the reality of what it will mean for shareholders if it's approved.
Under the legislation of the CIGA and The Companies Act I'm struggling to see how it can be stopped.
I'm also struggling to see given the very low reserves and high debt what anyone could do as an alternative to get Hur out of this position.
Even if the bod could be ousted the same problems of dealing with the bondholders, the terms and conditions set in the event of a technical default which is what this will be will still be present so technically the company is trading while insolvent. They are in a weak position as far as a restructuring plan goes.

So I'm just here to provide the reality of the current situation. Whether anyone decides to sell or not is up to them

I think most investor's are more concerned about the fact that Hur as a share has been pegged for failure with little or no return to shareholders.

They will be and should be more concerned with that than what they think of me. The simple truth is that unless by some sheer miracle now the shares will be diluted to oblivion with the equivalent of over 39B shares if the court approve the plan.

39B shares at even 1p implies a market cap of £390M. Shareholders will also be left with just a 5% stake so it doesn't take a genius to figure out just how overvalued this is.

From where I'm looking sat on a lounger on a lovely hot beach with white sand in between my toes while writing this - yep life couldn't be any better for me ;))

On the contrary Mr Dense I have all the time in the world watching this outfit gradually wind-down

Dense boy no more effort required other than to get the message that this is finished.

The company themselves are doing a pretty good job and putting a lot of effort in I see. They've definitely been busy behind the scenes!

Not at 5p then denseboy?
Must be truth in my ramblings after all then ;))

Nice research note ;))

So denseman, by all means YOU keep it up because based on what you've said I'm expecting this to open up at 5p this morning.
And if it doesn't just like I expect it won't then we'll know who's talking out of their backside won't we ;))

We're all losing our bladders here in laughter at you're denial of the cold hard facts senseman, you must have limitless money to burn!

So the presentation is fake, last Fridays RNS is fake and we're all making it up is basically what you're saying.

Perhaps you should ring Hurricane up tomorrow and tell them about the "fairy story" that's been put out there?

Then we'll wait for the HUGE RNS correction saying they got it wrong for the last 18 months and all is well. All because you rang them and told them that the whole thing is fiction!

I think a complete reality check is what is needed for tools like you senseman. Have you got any sense at all perhaps you should have called yourself nosense man lol