Member Info for MTSparky

It's like going from a Sunday league pub side straight to the Championship. Cochran needs to dip into the transfer market...;o))

Great stuff and actually we have been a producer of over 2,500 boepd since the start of the year ! That's about $30m of revenue back dated.

Also there is plenty to be getting on with in the North E blocks. New seismic data, drilling and potential tie up of pipelines to the JDA area. The Vincent discovery in E-11 tested at 10,700 boepd so the area is proven. I still think the sp could exceed �1 after re-listing.

I don't see any further acquisitions in the near future. This one has taken months so far and still isn't a done deal. I don't see any further action until this deal is fully done and dusted. I would think re-admission would be after xmas now, lets go for Feb. There is still a lot for HNL to sort out.

Cheers mate that's good of you to say that. You have kept the lights on here though for the last few months. You can retire now RB !...lol

Hooo bloody raaa. The wait will be worth it, I am so pleased I held onto my shares. I think the re-admission value will be many times the 12p de-listing price. Not just based on current value but the growth potential with the Engie tie up. HNL have been targeting these North Sea shallow gas plays for over a year now. I wouldn't be surprised if the value of HNL goes to around �30m or �1.25/sh but even �15m would be about 65p/sh. Future growth potential is huge IMO.

I wish I were in JOG that's for sure ! Having your cash tied up in a delisted company for a year isn't great.

HNL are not eligible to be held within an ISA as they are not trading on an HMRC market, unless they have a full listing on another recognised investment exchange. HNL are not listed or trading so they are ineligible. My holding is to be moved to a non-ISA share dealing account. You may want to contact IG to confirm ghost.

Just received notification that HNL is no longer ISA allowable due to de-listing. I'll be a bit upset (to say the least) if the new listing is not fully returned to my ISA account !

If it comes off (which it looks like its going to) HNL will be a totally different company. As RNS states HNL will needs lots more staff and directors, it's a total restructuring of the business. They may also need new premises etc. Interesting bit at the bottom re-matched trading. I'm not selling, but you can buy more if you want to. I wonder what the matched trade buy price would be? What would someone be prepared to sell for is the question ??

sounds like it. Can we have the share price back dated!! I could have done with the cash in January...haha

RB, They must be earning about $30 per boe. So if we take the 2mmboe at $30 is £46m of commercial reserves plus £350m contingent resources. Is that correct? Not that much commercial reserves.

From the RNS The Company's strategy is to focus on lower-risk assets with well-understood geology, near-term commercial potential, access to (or ownership of) infrastructure situated in established hydrocarbon basins and stable fiscal jurisdictions, with higher risk assets spun out into Vermeer Exploration B.V. Following Admission, the Group will continue to implement this stated strategy.

Questions: Will HNL be able to produce and carry out maintenance? - if not how will they fund the maintenance? How much of HNL other assets are AC and co going to hive off into their private company? - FG could go.

RB 60p/sh values HNL at £14m. I would be very happy with that sp, but I have a feeling the market cap could exceed that value once trading commences. HNL are going from nothing to a turnover of £25m a year. If they managed just £3m a year profit that would value HNL at about £20m. 5 years time I reckon the sp will be £'s/sh

"An independent CPR which will externally assess and describe the proved & probable reserves and contingent & prospective resources within the Licences is underway and will be published as part of the Admission Document. " I wonder what value we can expect to be added to the current share price for proved & probable reserves and contingent & prospective resources??? - this could be huge sums.

Does anyone have any idea about HNL value post transaction? HNL are purchasing a company valued at say £26m, so HNL asset value goes up by £26m. But HNL won't actually own the asset it will be part financed by £8m. The remaining £18m will be paid in 2019/20, paid for through cash flow from production. Which should be $31.5m/£25m a year. Revenue in first two years is $63m less CAPEX for maintenance $47m gives surplus $16m. So the first two years HNL don't make that much in way of cash from all this production, say £5/6m per year. Years 3/4 HNL earn £50m but pay out £18m remainder of asset cost. Surplus £32m. We don't know what CAPEX for maintenance is required. Even if the market re-rates HNL to just £20m that's 83p a share. If we issue another 24m shares that's still over 40p/sh. Be interesting to see what price a placing is offered at. 24m shares at 40p is £9.6m.

Yes a very good morning RB. Serica SQZ are producing 3800 boepd their m/c is £82m. Halo looking at 2900 boepd. A market cap for HNL of £10m+ is not unreasonable IMO.

FG and West Africa. West Africa has best long term potential and could yield huge finds. Bit of a no go area for now though.

my holding is in an ISA account...;o))))