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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".
Daltry - very honourable of you but the Mea Culpa needs to come from the management. We can all speculate endlessly about how corrupt AIM is but the truth of the matter is that none of us know whether WW is going to be commerical or not. There seems to be consensus around this - which begs the question why not put out a holding statement until such time as they have been able to analyse and interpret the data? For me there is a significant issue around comms to address here which I think has been quite monumentally inept.
now trading at 35.2p so clawing back. Big profits to be made here for the day-traders but just to repeat what everyone else has said it has been massively oversold. The market will realise this hopefully sooner rather than later. I still stand by the comment on issuing an RNS - despite all his attributes Dr Trice seems to be somewhat "tone deaf" when it comes to comms. The company is not his personal scientific experiment - communications matter in a publicly listed co and with such deliberately vague pronouncements as yesterdays they must realise the consequences that will flow from those.
Agree PTS. If they care about the future of the company then I think they need to consider a clarification statement - the stock is in freefall and they are destroying a lot of value by sitting on their hands