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has anyone noticed a consistent flow of 50k buys coming through over the last few weeks with a number of them this morning? Too big for PI's, could be an institution hovering up shares at a crazy price?

FTSE down along with a number of oil majors incl. BP down 1.73% but we are up 1.42% - bodes well for Monday. we've reached the bottom and if we haven't then I'll keep buying at these prices

as long as it is pumping (and soon will be doing 20k p/d) and pumping out cash this price is a steal. Yes it may go lower - then the prospect of making a 5x gain in the next 3 months is a real possibility

trading on a P/E of 2.5 compared to a sector average of 25 it feels like we are entering "interruption" territory. The fundamentals are we have a profitable, cash generating business with exciting prospects - ergo a respectable bid at £2 would not be unreasonable. Whether we are trading at these levels by design, manipulation or whatever else the only sensible thing one can do is fill ones boots.....

indeed....meaning the valuation on an earnings basis is ridiculous

...I think the fundamentals will prevail here (eventually). The game-changer would be a main market listing. if they are shifting 20k barrels per day this would make them a $400m company which surely would give them the muscle and financial clout to get a main market placing

really hope they are getting their balls cracked...ha ha ha

Hi Daltry - I think they mean returns in the form of a higher sp. Given the capital investment they need to undertake I cannot imagine they will return money to shareholders for some years

lets hope they get absolutely rogered

Well done Hurricane and Dr Trice - the current SP is down to market speculation nothing more. The results speak for themselves. Watch this rise.

completely agree - someone in distress trying to offload in a weak market with headwinds, no newsflow and no imminent drilling campaign. Be greedy when others are fearful......this is a steal

Does anyone have any idea how far in advance HURR sells its shipments? I guess it will be selling future ones now at near $70 which when it hits the coffers just makes the current SP look even more ridiculous

....nudging $70 this morning. surely this should be a benefit to HURR. Ceteris paribus Hurr should be worth 17% more now than a month ago...

....is this a conspiracy theory too far to say that the MM's are trying to position this SP for a takeover

whilst ordinarily I would say an offload is baked into the price surely this upcoming offload has more meaning as it would be 6 months solid production. Does anyone have any views on whether this could mean we have hit the floor and the only way from here is up?

excellent post Well Well. IMO Christmas is another factor driving sentiment here - people maybe cutting losses and cashing in, with absence of newsflow and maybe come back in during Jan if and when some actual FACTS come to the surface

this is a cash generating company with excellent prospects, albeit hobbled by a completely inept PR approach. Anyone with knowledge of this company would be buying at these levels

Brilliant point Branson - have thought the same. Which is why the RNS sits so oddly with the underlying expectation that there is good news to come out. Just stepping back I think a lot of people have got way too miopic about all this. Lancaster is a bloackbuster field and in all likelihood they will end up producing from Lincoln - the best is yet to come.

I have thought the same and see the SP weakness as reflecting a dearth of newsflow until the CMD in Q1 20. The "action" is over for this year and we haven't ended on a great note....

JoeSoap - you have got to the nub of it quite elegantly. It feels like they have done everything possible to avoid saying non-commercial. However not having said those words there is still ambiguity - ie if they can get the oil to flow with the well fully cleaned up could it then start flowing at higher rates. And is that what they will analyse the data for over the coming days? It is very uncertain indeed which makes me wonder why they did not just issue a holding statement without much detail at all and say "results to follow".