Member Info for senseman

RB must be reading senseman's mind...)

Peeps
Likely too late to instruct broker re Wednesday's AGM vote
BUT not too late to instruct broker to vote shares FOR (IN FAVOUR OF) ALL EGM RESOLUTIONS 5 JULY
If not already done - INSTRUCT BROKER TODAY - DON'T LEAVE TO OTHERS - EVERY VOTE MATTERS - DO THE GRUNT WORK
Happy Monday indeed for shareholders

10 mins max
Judge expresses irritation at rush
Refuses sanction - 'have not passed evidence test'
Refuses leave to appeal (Hurr & bondholders say will still appeal direct to appeal court)
Crystal Amber awarded costs
Written judgement likely published today
SImples

google 'Evening Standard Crystal Amber' and will see from reading a couple of links that Saba thing been long time expected. CA will have plans in place and there is no time pressure. Plenty of time to sort out HURR. I don't think any negative impact

Excuse my French
The 'Plan' is a conspiracy - a deviant attempt at legalised theft.
My personal view is that I have zero doubt that if and when all were to be revealed, there would be sufficient evidence for successful criminal conspiracy/ attempt to defraud/ whatever correct legalise is, charges to be brought and succeed.
Before the canaries start - I state the above as my personal view, not fact. Mindful also that forum chat in legal terms is considered 'bar room chat'.
My personal views are absolute - I would bet the farm they are correct

Peoples
Please - calm
His Lordship will NOT sanction the 'Plan', period!
The Saba info is as best a coincidence easily dealt with by CA. At worst the result of HURR phoning to create mud which also helps Saba, again easily dealt with by CA
Simples. Calm

apology - should read AGM 30 June, not July

Jiffy
Yes, I don't like coincidences, especially when there is a healthy record of naughties

the BoD have done a deal with bondholders owed $230 million repayable July 2022 wherein 95% of the company is handed over in exchange for $50 million off the debt and extended time to pay. on basis that company won't have $230mill to repay.
shareholders and crystal amber (2nd largest institutional shareholder) say this is garbage
court decides if 'the Plan' can go ahead, or it cannot. The 'Plan' cost $17 million to construct.
rumours abound that as quid pro quo, the BoD are on a promise of mega jobs for life or mega size brown envelopes or mega size something
share price risen from 1.2 to 2.2 since last weeks 3 day hearing started, hence current market sentiment towards judge ruling in shareholder favour and rejecting BoD-bondholder 'Plan'
because shareholders loathe BoD, there is EGM 5 July to kick BoD out
there is also AGM 30 July where current shareholders are set to vote against all BoD tabled resolutions
BoD currently hiding under beds clutching bottles of whisky and valium
simples

Fellas - it's 10.30. Hearing link starts 9.00 so can log in anytime after that

The document is 'Business Plan - Monthly Production Figures', and was given to Bondholders as part of 'sales pitch bundle'. Was hidden from Court - not included in Court evidence bundles
It shows 4.7million barrels anticipated production from July 2022 - Feb 2024 ('Cessation of Production based on Economic Profile"). HUR's ultra conservative oil price 'Forward Curve' values that oil at $337.5 million. Net of OPEX = $170 million profit (conservative).

To view the document:-
Google - hurricaneenergy.com
On homepage, see 'Proposed Financial Restructuring' - click red 'DOCUMENTS' tab
Scroll to May 25 2021 'Restructuring Business Plan Presentation', click pink/red document icon to right hand side
Scroll down to page 7 (page 7 of 18), titled 'Business Plan - Monthly Production Profile'

Do an Excel spreadsheet using HUR's conservative Forward Rate Curve - 4.7 million barrels gives $337.5 million revenue.

I spoke at the Hearing and informed Judge of this, amongst other matters. In closing argument, both HURR & bondholder QCs argued I was confused and must have been referring to production PRE July 2021. I was not confused. I was spot-on.
I was prevented from speaking further to enlighten the judge he was being deliberately deceived. Though the judge invited further comment from anyone, continuous industrial jackhammer drilling outside my window prevented me doing so.

A central tenet of HUR and bondholder argument for the Plan is that shareholders are 'out of the money. ie: the field contains no further shareholder value.

BUT - post Hearing I wrote directly to Mr Justice Zacaroli attaching the crucial document + my Excel spreadsheet. I advised (as above) where the document could be located. I stated in plain English that HUR had deliberately withheld the document from the Court evidence bundles because they did not want him to see it. and that both QCs had deliberately misled him.

Wendy Simpson, MrJustice Zacaroli's clerk, later confirmed by phone that my email and attachments had been passed to His Lordship, and would be read. So His Lordship now has documentary proof that both HURR and bondholders misled him. There is HUGE value remaining to shareholders
$337 MILLION DOCUMENT WITHHELD FROM COURT - $337 MILLION DOCUMENT WITHHELD FROM COURT

Heidi
Quite. Nothing from Hargreave Lansdown either. Cannot see biggest UK broker not emailing clients need to vote again. Or allowing duplicate voting to pass through them. Will phone Monday am to check, but something along lines of your explanation seems likely. We certainly need no fright stories at this stage

Oilskin
All this terminology etc new to me, so will be for others. Please reduce to lay English
1. Does this mean that all who have shares held with all brokers eg Hargreave Lansdown etc, must vote again?
2. What does meeting id 595969 refer to? HUR AGM? Or EGM?
3. How and when does one know if deadline extensions are granted (so need to vote again)? Or if not granted, does one NOT need to vote again?
It would help if you could explain whole situation as if explaining to ET or village idiot - draw picture with crayons for us - the situation generally being so crucial etc

Kama
It's true. See the document and do the sums - it's 5 min back of fag packet job

oilskin
yes, please clarify
source etc?

canti
i was hopping when the QCs lied in telling judge i must have been referring to pre-July 2022 - smooth talking deviants - and of course judge has crowded mind so lies can easily be accepted. and qcs are supposed to be bound by hypocratic oath - what a joke!
there were 2 jack hammers going non stop outside my windows so pointless pressing the unmute button to speak - had i been able to their would have been fireworks - had it all written down in front of me and was going to tell the judge they were trying to con him and abusing the court process. I know how crucial it can be if one is able to show a side deliberately lying
it's quite scary speaking - because one has to come in cold - no time to get into things and leave nerves behind.

Transy
Crawl back to your hole in the ground. I am not paid to educate vermin
You precisely know the import of the document, that Hurr hid it from the, and that Hurr and bondholder QCs misled the judge.
The situation has now been remedied

Dire
No, it's just with P6 well being run as it is at present

Dive
So the BoD and bondholders decide between them what reward the BoD for fronting the scam...!!!!!!
The Man On The Moon can smell it!!!!
I shudder to think what will come out of the woodwork if a new BoD get their hands on all company docs etc

Yobbo - perhaps yes, perhaps no. Essentially CA had 3 weeks or so to prepare, instruct counsel etc. They did an amazing job. It's almost impossible not to miss something, or for counsel not to miss a point if CA brought it to counsels attention. Main thing is - judge has it now, what he makes of it is different matter
Flynchy - it's fine if passed to Hurr now
Just thought peeps may want to see the doc themselves so they can see what I wrote is true and accurate - and judge made aware