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If you try to understand the logic behind brokers' recommendations you're going to get a sore head.
So true. Just look at the previous 12 months recommendations. A successful prediction of 0%.
Though I think your assessment of brokers methodology is a little too lenient.
Onthebeach....
“Today with high inflation (or now possibly even stagflation) forecasted ahead, only safe haven here are the commodities, and within the commodities, O&G companies look the best bet at present, and then from these levels, my favourite of them all is undoubtedly a now very much expected totally debt free Hurricane Energy which will truly propel with incoming updates as the year progresses.“
Ditto.
Oil is very good and as a LTH on Hurricane with an average unit price of 3.97p the 125% gain is extremely welcome, however I'm also a LTH in other commodities and at the moment my Glencore holdings are showing almost 900%, pity I didn't have the initial investment of £30,000 approx that went into Hurricane.
Morganna1: Although I usually try to avoid SP forecasts, however decided to give it a go here today:
3 months - 19p
6 months - 26p
12 months - 33p
18-24 months - 49p
Always DYOR.
Would the following forecast influence your estimates?
"Russia currently exports approximately 4.5 million barrels of crude. If exports were cut in half, prices would likely remain elevated in the short to medium-term around current levels, even if the US and other nations release oil from their strategic reserves. However, if the crisis gets worse and Europe imposes sanctions on Russian oil with no response from OPEC members, expect prices to jump above $200."
I believe BP's choice is first or last days of the month of the offload. So not last of one month and first of next month.
Sense,
I'd suggest that the Do not sell mantra should apply to most shares.
When things calm down there will be a big bounce across the board, if they don't calm down and we find ourselves in a nuclear confrontation with Putin, then the price of the majority of equities (well perhaps only 99%) won't be of all that much interest.
I've just watched my screens showing a blanket of blinking red, though with the exception of two small stakes I have in some funds.
Of the 30 or so positions on equities and funds I have I must admit I'm now considering which are the most likely to have a larger than expected bounce should we not be all irradiated in the next month. I'm nowhere near good enough to judge the bottom but it's probably getting close to a few top ups.
And to all those that have considered some support for Ukraine and have been fortunate to be still making fairly interesting profits on Hurricane why not cash in percentage and donate to their aid.
Sense. DO NOT SELL - DO NOT SELL - DO NOT SELL
Morning Sense, are you advising sh's not to sell by any chance as I get a vague impression that you may be in favour of people holding onto their stock!
Pang.
First and only purchased these in sept 2015 at £1 have ridden the highs and lows but if it hits £5 or drops to near £4.50 it is time for me to move on.
Well done. I did much the same with an average of 94.85p, now showing a profit percentage of around 900%.
I may top slice at 500p but will keep a few as I think it may add a further 5-10% on top
jakeK.
Or even misremembered. Clearly not with it today.
If only I were to be as lucky. Inh my case it tends to be not with most days.
In July 2017, Hurricane issued US$230,000,000 in 7.5% convertible bonds due 2022 (“Convertible Bond”). The Convertible Bond was issued at par and carries a coupon of 7.5%, payable quarterly in arrears. The Convertible Bond is convertible into fully paid Ordinary Shares with the initial conversion price set at $0.52, representing a 25% premium above the placing price of the concurrent equity placement, being £0.32 (converted into US dollars at USD/GBP 1.30). Unless previously converted, redeemed or purchased and cancelled, the Convertible Bond will be redeemed at par on 24 July 2022. The Convertible Bond was admitted to the Official List of International Stock Exchange in September 2017.
The Hurricane bonds are convertible I believe.
https://www.investopedia.com/terms/c/convertiblebond.asp
I would think it would depend on the type of bond. It could be possible if it is a retractable or putable bond.
Bigbench ... My entire monitor screen is RED.... we will look back in a few months and kick ourselves for not loading up at this silly 4.3p
Same here with the exception of my Hurricane shares that have shown a rather pleasant £9,008 increase today.
Otherwise the remainder of my screen is flashing red and very pretty it looks.
It will sort itself out in time so just hand on and don't panic, well not too much.
As others have found can't get a quote for a purchase on any sensible quantity, did get a price of 7.58 for 10,000
Badger
That pillock Bartleboton has gone awfully quiet...
He's too busy buying.
Bob
Hold on. MMS need shares. 7p incoming
I sincerely hope so, I need that to counter the drop in virtually all my other holdings.
Senseman,
I tend to agree; wait until all bondholders have been dealt with.
Though I no longer smoke I did prefer Partagas Lusitanias and The Macallan 35 year old Pure Highland Malt.
Nowadays and not being is such robust health as I was 50 years ago I tend to smoke mackeral and drink the occasional tea or perhasp a single espresso.
Not sold any yet.
So about right with the current profit. Though I did have a fair amount with Woodford and also Sirius Minerals, so may break even on those two :)
Dollarboob,
To all those who are whining about the high price they bought in at and how they need a get out price of whatever. I've listed my purchases and the buying in prices. You can cee that I (along with no doubt a lot of long time investors) at an initial 50p (well 49.48 to be exact) I kept purchasing all the way down until I eventually got to a little top up at 1.63p and kept topping up since then.
I had a little faith in the company and after all it's only money and just as safe as the horses, betfred or my local casino.
Hanging on, not selling and waiting for better things pays off, though if it goes down the pan and I get nothing I'm still not going to complain as it was my decision to buy and hold.
Date Price Quantity Total Cost
24/01/2022 Bought B181988343 4.37 495,840 21,669.21
13/10/2021 Bought B104093503 4.23 118,194 5,011.91
14/09/2021 Bought B078442953 3.41 58,638 2,011.92
10/09/2021 Bought B071617803 2.65 37,780 1,011.95
12/08/2021 Bought B051561763 2.31 21,612 511.94
06/08/2021 Bought B043248553 2.73 183,486 5,011.94
06/08/2021 Bought B043192103 2.72 36,791 1,011.93
06/08/2021 Bought B043184513 2.72 36,791 1,011.93
19/07/2021 Bought B031445063 2.80 17,869 511.92
05/07/2021 Bought B018791283 4.13 24,213 1,011.95
28/06/2021 Bought B011606113 2.67 112,528 3,011.95
28/06/2021 Bought B011601473 2.68 112,141 3,011.95
23/06/2021 Bought B009467913 1.63 30,622 511.95
04/02/2020 Bought B545511092 21.88 9,139 2,011.75
22/01/2020 Bought B538113632 26.58 3,762 1,011.89
06/01/2020 Bought B525348952 30.91 3,235 1,011.82
01/10/2019 Bought B472740952 40.97 2,000 831.41
27/08/2019 Bought B453035862 44.97 2,223 1,011.63
31/08/2018 Bought B251798152 49.48 2,020 1,011.51
From a report in Energy Voice 12th Sept 2019.
Exploration firm Hurricane Energy has officially confirmed the discovery of “light oil” at its West of Shetland Lincoln Crestal well.
The firm said it had located the “presence of light oil which can be produced at commercial rates”.
Hurricane responded this week to speculation of a find at the Lincoln Crestal, saying it had made a discovery but did not confirm the details of the find.
The firm said a drill stem test on the well has produced oil to surface, resulting in a flare.
Hurricane is partnered with Spirit Energy on the project.
Its chief executive, Robert Trice, said he was “delighted” with the find.
He added that the find brings Hurricane “closer to monetising” the resource.
The company also revealed the well will now be suspended, subject to regulatory approval, with long term gauges installed to test interference with future GWA wells.
It will be tied-back to the Aoka Mizu FPSO during 2020, subject to further technical evaluations, regulatory consent and final investment decision by the joint venture
The Transocean Leader semi-submersible rig will now move to the location for the third well in the 2019 GWA drilling programme, 204/30b-A ‘Warwick West’.
Mr Trice said: “We are delighted with the results of the Lincoln Crestal well. We have confirmed the presence of light oil which can be produced at commercial rates.
“The Lincoln Crestal well is now planned to be tied back to the Aoka Mizu FPSO next year.
“This would make Lincoln the second producing basement field in the UK.
“Based on the result of the 2016 Lincoln well, RPS Energy assigned 2C contingent resources of 604 million barrels of oil equivalent to Lincoln.
“This successful result brings us closer to monetising this huge resource.”
Drilling at Lincoln Crestal began after the nearby Warwick Deep well proved non-commercial.
Lincoln lies in the Greater Warwick Area around 60 miles West of Shetland, which is 50% owned by Spirit Energy.
Carla Riddell, senior vice president for Spirit Energy’s West of Shetland assets, added: “We are very pleased by the results of the Lincoln Crestal well and are advancing our understanding of this reservoir.
“This brings us closer to further proving up the potential of the Greater Warwick Area.
“Our focus now is on safely drilling the next well on Warwick, the final of the three-well campaign this year.”