Member Info for RG27

https://www.zerohedge.com/commodities/china-orders-top-energy-firms-secure-supplies-all-costs-oil-surges

According to Bloomberg, the order came directly from Vice Premier Han Zheng, who supervises the nation’s energy sector and industrial production, and was delivered during an emergency meeting earlier this week with officials from Beijing’s state-owned assets regulator and economic planning agency. The bottom line, according to Bloomberg sources, is that "blackouts won’t be tolerated."

Whilst predominantly refering to coal and lng it should also aid oil.

Sense.

keep them coming - we need 20 for a tea break

Do you now have justification for the tea break.

Dear Sirs

Following Crystal Amber’s recent letter to the Board of Directors of Hurricane Energy citing article 94 of the Companies Articles of Association with a request for a committee of non- executive directors be formed to investigate the actions of the preceding Board of Directors and with a remit to potentially engage external advisers for such an investigation and for such advisers to subsequently place recommendations before the board.
My concern that the actions of the then Board of Directors both jointly and severally may well have constituted a dereliction of the duties of board directors as detailed by Companies House and following the attempt by the then board of directors to dilute the value of shareholder’s funds in favour of a consortium of bond holders and of which the court case which was subsequently instigated found by the judgement of the court to be without merit.
The court judgement found that the restructuring plan involving an amount of company and shareholder’s funds in the region of US$ 17 million was totally unjustified by the facts presented on behalf of the board of directors at that time.
This alone would need full disclosure and explanation, additionally the previous Board of Directors should be asked to fully explain their failure to implement a purchase of bonds held against the company when such bonds were available at substantial discounts, thereby saving further depletion of company and shareholder funds
I write to support The Crystal Amber Fund request that a committee (comprising the non-executive directors) be established with a mandate to investigate the actions of the previous Board of Directors to ensure that at all times they acted in accordance with their fiduciary responsibilities relating to the shareholders as well as their responsibilities to the company as a whole.

Yours faithfully

and for those interested in the bonds..

https://www.boerse-frankfurt.de/bond/xs1641462277-hurricane-energy-plc-7-5-17-22

Bonds have indeed increased today by 1.26%. Currently bid $80.50 Current ask $87.87

TDInvestor.

Agree, though only took profits recently, just left a small holding of 3,000 shares and waiting for the graph to edge closer to NAV.

Hasiba.
'Holding big numbers and not selling a single share.'

Well I don't have big numbers and did originally come in at 49.48p and as others have said (MPBUK - I remember being convinced the previous bod were purposely running the company into the ground and not being able to get my head round it.) bought all the way down in smallish amounts and on my relatively smallish holding of a bit below 900,000 I'm now making a good profit.

I still think this will hit double figures but will still have ups and downs from profit takers, after all who wouldn't be happy with 100% profit if they bought in around 2p. I must admit I'd have loved to have doubled my holding on one trade at 1.63p 23rd June, but needed cash for some other holdings.

Now now children, play nice.
There is a perfectly good filter should you wish to block someone.

Chat rooms always draw in people that wish to comment and share chat rooms are susceptible to people wishing to try to influence prices one way or the other.

And childish and immature name calling is a waste of time.

I was saddened to see Bartlebotn (if that's correct) going awol for a while as some of his comments were amusing, especially for people who were actually taking an interest in seeing his attempts to justify talking down the share price.

Mind you I had a while ago filtered him out.

Any one can do the same or just ignore them or reply with a considered and fact based response.

Now how many messages will be sent back telling me to mind my own business :)

A coincidence that today's ask price is 3.198 and the 4,000,000 "sold" yesterday that appeared in today's trades was also at 3.198 ?

Mariog

Some very large off book trades appeared in todays trades with a sell (?) of over 4,000,000 from yesterday appearing.

Looking at the London Stock Exchange the majority of trades are again off book today with prices that seem to indicate sales. I'm dubious that they are all sales.

jakeK

I agree, why would BP or the BOD wish to change the contract unless BP sees the value of oil rising dramatically and the BOD see the price falling dramatically, in either case a forward buy is bad for one party.

fandg2 pointed out that he throught that Hurricane doesn't have the option to forward sell.

I also have a recollection that BP has a contract with a confirmed price based on their discretion of first five or last five days of the month average price.

Does anyone have any info on that or is my recollection wrong?

"Happy to be corrected but don't think we can forwards sell our oil. From memory all the oil is already purchased by BP, think the price is already pre set (against the PoO of the day) on the day its offloaded to the visiting tanker. That is unless a new contract has been signed that I've missed."

I thought that the contract for sale was based on the average of the first five days of the month or the last five days of the month at the discretion of the buyer (BP)

Does anyone know if that has changed?

Mariog.... Nice to see you're watching CA as well as Hurricane.

The current bid/ask has narrowed somewhat as well.

Could just be saving them for a rainy day :)

I'd look at the trades on the London Stock Exchange, you'll see today's trades are virtually all Off Book, probably a MM hoovering up as many as he can get.

Checked the selling price was just an exercise. In fact I'd topped up this morning, unfortunately at 3.41p. Should have waited a little while, or should have gone in earlier.

Tried again with 700,000 and got an offer of 3.14

Tried an offer for 500,000 and received 3.21

Though a sale of 100,000 was offered 3.21