Member Info for senseman

I would be most grateful if someone might help me. I need promptly to get a handle on

(i) what offloads we've had so far since Prax (eg month and offload number). And when offloads expected (ie which months) 2024 & 2025.

(ii) how much per DCU payment do we expect, and when will be paid

(iii) how much (approx) per DCU each offload is worth

Been necessarily consumed with other matters so if anyone could help me get a clear picture quickly and and save me a read around would help much. Thanks

Nice of you to ask, Euston. Sadly still mired deep in financial doo doo, will be a long survival fight. Re simple gobby lying- heard nowt as expected

Dive - me thinking same nearly 3 weeks- so either a problem needed sorting, or something proactive to keep prod up/lengthen it. time will tell. i'll go for the later

laser - always appreciated

Thanks dive. it's clear from august figures that annual shutdown was longer than usual, as usual loss is circa only a third of month

HUR production estimate for dec was 6.3mb/d, for jan 5.9mb/d, for feb 5.6mb/d - with the big drop off starting about oct. so of interest will be next 2 offloads and prod figs to see if P6 'levels off' and starts producing better than forecast so longer lifespan

after a splurge in the 90's, brent currently back to HUR's baseline 80 due to continuing china woes. so that's not helping us much at present, save that even at 80 it was shown that HUR's P6 financial projection figures were a manic depressive's fairy story

seasons greetings. and slava ukraina

Nice to see the sensibles chipping in with different data each separately know how to access. keep it up fellas.

HUR projection was for 6.3 mbpd in December 23 and 5.9 mbpd Jan 24 @ $80 oil. so that's our P6 benchmark to see how things are going

HUR's prediction was that 2023 Q4 would see significant drop off ie: more rapid decrease. But techies amongst us opined if oil seeping in from sandstone there may come a point where drop off stabilises even stops as oil continues seeping in from sandstone at continuous rate. In such does occur P6 could continue economically viable significantly longer than predicted. So it's whether drop off stabilises/ slows down which will be interesting.

Thanks Laser.

If tanker 540K, can you opine what production bbp likely been since previous offload? Taking into account annual shutdown which I believe has occurred (tell me if hasn't).

Am I right in thinking that if production holds up (ie rate of decline stays constant), there should be another offload circa Dec 31?

Oil today $91 and not likely to fall much of at all by end of month. And was $91 ish 1st 5 days of month. So looking OK for not too shabby $90+ offload

The end Dec offload will be interesting as the bpp at end Dec will provide a good yardstick to measure P6 rate of decline

There will always be deviant posters. The remedy is effective forum moderation. The problem is that both LSE & ADVFN forum moderators are not fit for purpose.

Hi Euston

Heard nowt. The thing is a disciple of the Lavrov/Putin school of truth

Sadly, will be a good couple of years before I dig myself out of mire. Hit by numerous things one after t'other.

We hit bad-luck jackpot with HUR, never a slice of luck or even rub of green. To escape the crooked noose in 2021, only for CA then being wound down and throwing in the towel for safety - a kick in the teeth we just didn't deserve. CA are paid for managing others' money, not their own, so even if time proves it to be misplaced decision. they won't be crying much.

Nice to see the sensibles looking in occasionally.

Brent today $92-$93

Chortles heard coming from Prax & HUR HQs

Groans from CA HQ

Don't know Hank. The formula's an accounting t urd which left even judge at sanction hearing shaking his head and any variation of it's variation $80 base-rational would take ages to work out. Best just be happy Brent's $90 and wait see announcements. 1st Prax offload was low 80s and next 3 should be 90ish so DCU lights currently all green if they bat straight

Courtesy laserdisc ADVFN:-

06/9/2023

16:33 the original hurricane takeover presentation was previously on their website there was an audio to convince shareholders the best deal was chosen, i don.t think its avail now, i kept a copy of their figures, these figs were shown in presentation at $80 oil . So as long as Lancaster continues production

Returns to Shareholders for 2023 2024 2025 2026 expected

Prax Offer FOR THE

(Lancaster Revenue Only) was 6.29p 1.21p 1.13p 0.35p in addition if prax use the tax losses they obtained from Hur then we should expect more

the more Brent rises Above $80 the better for holders of dcu's as the Lancaster revenue when above $80 should be pure profit , all overheads production costs etc have been covered in above figures when it was calculated at $80

06/9/2023

20:13 next uplift should be around 1st October (subject to maintenance ops)) which will run for 2 weeks i est.

Prax have had proceeds for 1 offload in July, not sure of actual date of DCU interest payment i would have thought by 10th October, then they can incorporate proceeds of proposed October lift. Otherwise we wait for Prax to issue 2023 annual results and see what figs for P6 well have been incorporated in their accounts

Current situation

1) HMRC ruled DCU’s not retainable in ISA, thus taxable. Considerable loss to most PIs. A flawed decision. But what PI can fight HMRC?

2) Tories announce 100+ new N. Sea/ Shetland licences to be issued. Prax to revisit P8? And utilise other Lancaster resources? Tories blinked first - Labour will not reverse licences decision.

3) World oil consumption new high. OPEC+ extends production cutbacks till end 2023. Overdue supply crunch begins to bite. IEA revise POO estimates upwards. Standard Chartered & others forecast $90 Brent 2023 Q3, continuing through 2024 with $100 being visited.

4) P6 continues problem free. Brent today $89-$90. HUR/ Prax P6 standalone figures set to be proved fairy tale by Xmas.

Nimrod

hadn't posted for 6-7 weeks and found it a relief not to have to be trying to achieve something with all chips stacked against. returned because only thing left to do is monitor dcu developments, and monitor HUR p6 production and any other developments for the satisfaction of it being in time proven that HUR sale was a scam sale between & benefitting all interested parties save for PIs. I'll likely only pop in occasionally for a read and occasional post if I feel have anything worth saying.

puerile that after my not posting for 6-7 weeks, that upon posting after such a long absence the usual deviants appear reiterating their usual propaganda drivel that I am HUR obsessed.

my earlier reply to you included a touch of agitation pursuant to your comment perhaps i should leave BoD issues in the past. i assure you none of those scum or issues cause me sleepless nights hence my long silence. pity a couple of others couldn't have zipped it for a couple of months rather than feel compelled to post repeatedly displaying their expertise on nothingnesses

Nimrod - out of respect for your earlier post, i ask simply - have you since that writing taken drugs?

I agree nimrod's logic. exquisitively put, quite beautifully. however HMRC have 'ruled', their logic will be weaker than nimrod's. HMRC decision is wrong, flawed, and was likely made by a jobsworth incompetent negligent (90% of all humans).

today spoke with HL who confirm received HMRC decision to remove from ISA. consequently DCU's which so far have been left in ISA will be automatically transferred to to 'fund & shares account' (ie removed from ISA wrapper) shortly - likely within 7-14 days.

DCU spread has been tight 1.69 - 1.79 with only a million sold. so pi's are not selling (good). and if they do, if they nominate price wanted at say 2.0 or 2.5, likely won't get it.

i will do exactly as nimrod. and if called out, will argue the case right up to HMRC appeals procedure. I detest incompetence, negligence, and legalised theft. my advice to all is to copy and save nimrod's post. if the f eckers want to steal your money, make 'em fight

And for the record - neither details nor evidence was ever provided of the purported '7.8p unsolicited offer' rejected by HUR which provided the justifying rational for the Formal Sale Process to be instigated. Given the absence of such (without good reason), I have no faith that any such offer was received. Alternatively, that if one was, it was a bogus bid instigated by agreement with another party in order to provide justification for an FPS to be conducted.

So disgusted at Prax being gifted HUR, first time logging in for weeks. And so things begin to play out confirming worst fears:-

DCUs - Since HL messaged clients on 18 July stating DCUs can't be held in ISA, most of us will get tax-stung. For thoroughness am awaiting phone call from HL confirming HMRC confirmed such in writing to them, but regard the call as formality.

BRENT - today$86.7 & slowly creeping up as supply tightens. I expect it to be clear by early 2024 that HUR's P6 standalone figures were fairytale, and markedly greater than Prax's slightly higher promised P6 figure.

LICENSES - scared of losing election, Tories blinked first and will issue 100+ new N. Sea/ Shetland licences. Labour, if it wins election, won't reverse licenses decision as would have done similar post-election win. Let's wait to see if P8 now revisited, + other goodies spring up to help now privately owned HUR make a fortune & rub our noses in it further.

DCU's again - some will argue HUR doing well enables us to get full DCU money (less tax). That may be, but why should we be grateful for a shilling when a pound was stolen from us? And remember there is often a slip between cup and mouth.

P6 - continues pumping away like a good 'un, problem free

Sorry Hank - am leaving that to others due to work pressure. Same as you, 'd also appreciate being enlightened in very simple terms.

Contacted Court Office for where written judgement can be found - unfortunate news.

Apparently Judgement was given only 'extempore' - meaning only orally - apparently more usual than not regarding sanction hearings listed for less than half a day. There is no written judgement. The only was to obtain a written copy (transcript) of the Judgement is to apply to, and pay for, the court transcription service to transcribe one from the court tape - which for a 45 minute oral judgement would be serious money. The 2021 initial one day hearing initiated a written judgement because the judge ordered that certain things (meetings/votes) occurred before the 3 day evidence hearing.

It's a shame because a written judgement would have interested many and also made plain to the scoffers how worried HUR were and that we were not that far away from succeeding. The only written account(s) are thus those provided by picsmaister & myself. Given we always previously reported accurately and were not found to be wanting or misleading, those accounts can be relied upon.

As of today Hargrave Lansdown have received no decision from HMRC re DCU's remaining in ISAs or not.