RE: Email TO CHAIRMAN - RE CONTINUING MONTHLY OPERATIONAL & FINANCE UPDATE3 Aug 2022 15:10
Just sent a revised version.
Dear Mr Wolfe
I was a little surprised at the comment that was made in the recent RNS that the company has the intention of removing the monthly financial and production updates and intends to only issue these on a quarterly basis.
Whilst I am sure that this may well be in line with industry practice it does perhaps dent a little the confidence in the current management of the company built up since, and in comparison to that of, the previous old Board of Directors.
All shareholders will be extremely grateful for the manner in which the recent management of the company has turned it around from what were previously quite dismal days and the excellent returns allowing for the total repayment and accrued interest of the Convertible Bonds; which are perhaps not entirely due to the unprecedented increase of global oil prices, but can be in no small part due to the actions of the current BoD, both executive and non-executive.
I have personally found the monthly reports to be of value and would find it a backward step in maintaining my appreciation for the current actions of the board, as do, I believe, many other small shareholders in Hurricane.
It remains of great interest for shareholders to see the production and financial results relating to the single well and until the company has proposed future plans it would perhaps be perhaps a little premature to remove what has been the only source of information that shareholders can relate to.