Member Info for MCB55

I think that Hur means 6 mth stable production starts from when both wells online ca 1st September after the valve problem fixed

Reason is that the type of punters on AIM are looking for a quick profit, nothing much happening on the sp then move on! They are not interested in technical detail and long term value just a fast buck!

If I recall correctly NT himself said it in a voxcast recently!
So I’m hoping OTC is imminent, maybe next week?

Maybe the need for a new chairman to be appointed!.

Someone’s having a giraffe!

What’s happened to all messages today......all seem to be deleted!?

The oil offtake agreement with BP will have been set up by BP Trading ltd as a pure trading agreement. It has nothing to do with BP Exploration ltd, which would be the company that looks after all upstream exploration and production activities and would be the one that might be interested in a takeover/farm in. The two have no real connection and the offtake agreement Is not a ‘positioning’ move at all.
IMHO as an ex BP Exp man!

Agree in principle, but the key is when the market will value Hur as an oil producer with a P/E of 5+ = 85+p?

I agree that there are no facts or projections yet, so have to keep the faith for awhile yet!

More clean up during DST’s will help the final flow rate on final DST, but hopefully that will be limited by choke and topside limitations anyway. These flow rates will give the potential for the well, but cannot fully predict the final achievable rates once in production as seen already for the 2Lancaster wells.
I don’t think DST clean ups will have much if any impact on full production rates later though, the well will be cleaned up ‘properly’ once tied back and producing to AM.

Zoetec are exhibiting at this Expro in Birmingham this weekend 14th n 15th.
A lot of other exhibitors, but here’s hoping some interest......we need it!

Fredr,
I think you should drop into the Perth office, just to make sure that it is more than a plaque on the door and some IT support guy working from his bedroom!?

Mal trees I agree!

Well if that’s the case a P/E of ca 5 then all those that reckon we are massively undervalued are somewhat deluded then!
The sp peaks of ca 60+ p historically have been driven by euphoria rather than hard analysis then.
Also the brokers average prediction of ca £1 also have no dateline on them, so are not particularly near term targets.
So overall we have an sp about right for what we have proven so far.

Yes indeed, but as you well know P/E is also a measure of confidence that the company can grow somewhat larger, so a forward measure too.

Casapinos,
Hur is not yet valued as an oil production company, probably because it doesn’t have at least 6 mths proven income and preferably one accounting years worth of income. Oil producers are on about a P/E of 15 and on a forward projection for 2020 would make an sp of £1.8 ( 20kbd*365*$40 divided by 2 billion shares). The fact that we are nowhere near that is because a Hur are still valued as an explorer and the only 2p reserves are based on Lancaster eps for 6 years that is ca 40p per share (?). More 2p reserves won’t be booked til next year. So Hur is betwixt and between an explorer and a producer, mainly explorer at the moment.
It maybe that the market will value it next year as a producer, but a takeover bid based on assets/ an explorer.
Just a few thoughts imho

Oops 2%

Mover123,
yes but if Hur only had 190m shares in issue they would be £4.7each (mcap £890m) and a a 10p uplift would be 0.02%!!

Give NT a chance for gods sake, he has only been officially in charge for a week! So give him at least a month or two before you judge.
Here’s hoping some clarity will come in the October update.

Current shareholders will not forget, you are right, but maybe a bit of hidden /opaque history for new shareholders is a hopefully good thing!