Member Info for MCB55

We will and I have (but not all at 9p unfortunately!).

DN,
"....they would have a robust water tight legal framework in place and would have to honour the tie back to the fpso from LC ..."

What I don't get then is why Hur didn't force the issue, was it just to keep good relations with Spirit for the future?

Marinetraffic states its going to Kraken!

Stay the course this will be well over 20p in 3-6 mths!!

JS,
Fair point, they might just be below threshold..........However I still don't get why they are in it all at this level, they've made their big money by now and small pickings now!?

Agree that 15p is bottom.........so why are people selling from 16p down, not much money to be made doing that!.......the big shorts are out now, so can only be nervous PI's!?

Agree, when do you think?

Great Square point are out!,

Real time sp on the move up, blue by end of play today!

"...they will ramp up to 20k bopd ...."

Yes the key word there is ramp up, doesn't mean all in one day. will take maybe up to a week!

I think the shareholders were in a cleft stick.....either 1p or nothing.......but a majority still have to capitulate!

Oocan,
Not really comparable.....Flybe were basically bust at the time!

OB,
Of course Dr T wouldn't sell cheap and he wouldn't recommend a bid of less than £2 IMO!
However it would then have to be a hostile bid, where the new bidder gets sufficient shareholders to back him and forces a vote at an EGM!

A 35p low bid would attract other higher bids as well, so a bid war might break out!

"^ not sure the shareholders would be delighted with takeover at 15p?"

For a takeover to be successful a majority of shareholders have to vote for it! So anything less than 50p then no chance. IMO

LW,
I wouldn't say that Hur is in a precarious position.....it is just that the Spirit sale and freeze on Lincoln tieback finance has complicated future plans both operationally and financially ..... a spanner in the works!
Hur must be looking at all the options and hopefully all will become clear at the CMD.

Pjoe over on LF has a fair point on future finances. Basically if Spirit back out of their share of WOSP and if Hur need $300m in bank for 2022 bond buy back plus Lancaster drill and tieback then cash is in for a bit of a squeeze!!
Hope that Spirit/Centrica sale and future is settled shortly to provide clarity!!

Maybe WOSP LL items is a factor, however I am beginning to think it is more logistics and weather window related!
Something like no 100% success chance for a Lancaster well til proven, earliest date for that is May, all the flowline lay boats been laid off by then, and therefore no chance to remob this summer (don’t think you can lay flowlines mid winter WOS!?)......so tieback has to be next year!

Dubliner,
Agree with your sentiment and why can't they use LC long lead items!
Also given they will sooner or later be timing back several more Lancaster wells in years to come, why can't they commit now on at least one wells worth of kit!

"...I guess this is why the next Lancaster Well and tie back is a little more delayed..."

I don't think that is the case at all, its purely logistics and long lead items that would mean a successful additional Lancaster drill this year could not be tied back til late next year.