Member Info for noelpbz

Bubblepoint - WELL said - totally agree. Advice for ALL.

The £111m of loss in last years report (2021/2022) related to an assumed loss for the lifetime of the Hedge - in fact we are meeting the Hedge quantities and that loss will not materialise.

The reported loss in the Annual Report relates to the lifetime of the Hedge based on future gas prices, presumably at 30th Sept 22.

The assumption seems to believe we will fall short of meeting the Hedge volumes, when I believed from production numbers that we were just about meeting Hedge numbers - and in some cases producing more than Hedge numbers.

I’m ignoring actual gas prices - BUT if we meet hedge volumes then there is no loss on the hedge - I am not saying we will necessarily be in actual profit, although the Sidetrack should take care of that.

What am I missing. ????

Ocelot. - many thanks - now up to speed - it all looks GOOD !!

I’ve been out of the loop recently and I notice there is some calculations on a hedge swap at 315p for period April/June 23. - where is the source for this Swap ??

With the record of voting at past GMs (approx 60% of total ) we probably only need 15% OF TOTAL shares to reject - only 300m!

What I can’t understand is why this deal is acceptable to CA - when their wish is to exit quickly and not hang around with “deferred consideration units” which ultimately may have NO value.
Surely HUR can pay the promised 4.15p ($95M) from free cash and leave $65M plus April offload ($20M) to continue in the same passive manner.

Sadly the days of yore are gone when the SP hinged on future potential - maybe 12 months or more in the future - although I admit I am talking of when there was a fortnight window in which you could trade without necessary having the cash available until crunch time if required.

Considering that well 205/21A -6 TD is higher than 205/21A 7Z TD (info from CMD presentations) why has HUR/Maris not considered a reworked 205/21A - 7Z - and cemented 7Z at point above 205/21A - 6, set a whipstock at a new depth and a window milled through the casing and cement and with continued deviation arrive at a new location above 205/21A -6.

Altera Wave :17 Feb 2023, 07:59 UTC

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Samsung could pay a premium to buy us out and still SAVE money.

In fact they still can.

Would have been cheaper for Samsung to have bought us out.

RNS 12th Jan 23

I think you will find its : sensemen” trying a bluff ID-

Corry - thanks for the full explanation - I believe I am now a little wiser - many thanks.

Corry - I believed the GM held on the 11th Jan 23 and court case 31st Jan 23 was an exercise to release funds ($70M) to allow some distribution either to buyback or dividend.
If not what then what did it achieve. ??

OK - I got it wrong :
Total $212M net free cash - $122M (RNS 11th Jan 23) + capital return $70M
(RNS12thDEC 22) + Feb 23 uplift nett say$20M.

IS not imminent available CASH $224M ?? - $122M (RNS 11th Jan 23) + capital reduction $82M (RNS12thDEC 22) + Feb 23 uplift nett say $20M

The key will be a considerable reduction in production numbers.