Member Info for senseman

deliberate falsehood makes my blood boil
more i read it, more it stinks
as you write - only $87 mill guaranteed, to unlock what will be $230 mill HUR cash by end May court signing off

too tired to find it - but it will be the february offload included - the devious sods have delayed the OPs RNS so most don't know we have $140 mill now - which means will be circa $160 mill after april offload - and $170 mill by time deal docs are signed end may
read RNS few times now - most striking things are
1. replicates devious structure, language and deliberate use of figures (some false) of 2021 court scam documents
2. too much 'special pleading' that 'this is a good deal' - are trying far too hard in attempt to fool all - especially other institutional shareholders they need votes from
3. the guff about derisking SHs from &$60 mill poss decommissioning/wind up costs etc - which are already paid and held in escrow

hi mariog. am up late also cricket watching
where do you get the figures from?

Kever
engage thy brain - it needs a mass email email to all other major inst SHs (+CA & HUR for extreme displeasure purposes ) as we need 25% of EGM votes to stop it.
Anything else is hot air

red
no need reply. found and read. unless i read wrong. CA & KER are tied in to proposed deal and can't support higher bid until and unless time limit for this deal expires. in other words, if white knight higher offer lands, CA & KER cannot support that offer. so if higher offer lands, given it needs 75% to pass, CA & KER can't support it so it would fail. unless of course they chose to not vote, in which case higher offer may succeed? someone read and tell me am wrong?

red
good find
say which link or tab it's under. working here so can't hunt

we'd all like clarity on that. any suggestions? a good writer would have made it clear in the RNS

It is fine to have a whinge provided that one also does something practical. The current imperatives are:-
1. Tomorrow peeps need to get on phone to brokers to pin down ISA issue. Post outcome on here
2. Peeps need find name & top man name & direct email of major inst SHs other than CA & Kerogen

Needs 9 other people to check with their broker
Hargreaves say if shares in private company issued, then cannot stay in ISA
BUT
We will be given 'a deferred cash payment line' which will be marked in the ISA and remains there. It's a promise to pay additional sums. Ergo, he says he is 99.9% certain of his facts and cites 'NAPSTER' as a company which recently did the same thing and SHs deferred cash payment line stayed, and currently remains, within their ISAs.
If correct will save a few heart attacks. Needs checking of course - push to speak with someone with expert ISA knowledge

last 3 mins maris monologue gives date schedule - advise all to listen

early april - detailed doc published
end april - EGM vote
mid may - some initial court ok
late may - final court stamp

people need collectively to pin down the ISA repercussions - as a member posted earlier - his broker wrote that shares in AIM HUR held in ISA, once HUR taken private the shares (or then '6.5p chits/coupons or whatever) must be transferred to separate non ISA share account, whereupon thereafter tax will need to be paid.
since 50% of the time brokers give misinformation first time out - it needs checking and pinning down by at least 10 PIs. so please 10 get going. am currently in a 20 min queue to my broker

Thanks xxxProxxx
Bibzy - Pro's summary as good as mine would be. And I'm reading whilst working. We're all just reading round as you are. It's the time & uncertainty waiting around for the other 6.5p that's the killer. One assumes we'll get it. But many tricky dickies in the this world. Other main point is if no sale and just stay as we are likely 12p cash by mid 2024 anyway and we still own company

Note - HUR & Prax justification 'good deal for SHs' figures are based on $80 oil. Oil will NOT stay at $80 but will be higher. HUR & Prax figures are drivel

"11 FINANCING
Gneiss Energy has not been required to confirm, and has not confirmed, that resources are available to (1) Hurricane to satisfy payments under the Special Dividends or (2) Prax to satisfy payments under the Deferred Consideration Units. Hurricane Shareholders will be at risk if, for any reason, these payment obligations were unable to be satisfied by Prax and/or Hurricane."

"10.2 Directors, management and employees

Prax holds the skills, knowledge and expertise of Hurricane's management and employees in high regard and believes it will provide long-term stability and reassurance to Hurricane's most important asset, its staff."

It's staff being it's worst asset

I do NOT THINK it wise to sell
If in doubt, do NOWT - is 9 times out of 10 best advice
Much may become clearer next few days
Had I sold today, I would reflect and consider buying back in if I could do so at nil or minimal overall transaction loss

I feel sick. From HUR RNS (or is it Prax RNS on HUR website?)
10.1 Future business of Hurricane and the Hurricane Group
Prax believes that the enlarged group will provide opportunities for the management and employees of both companies. Prax envisages moving towards full integration of Hurricane as soon as possible following completion of the Acquisition. "Prax is impressed by the high quality of the Hurricane management team and wishes and expects them to participate in the future leadership of the company." (my italics)

DYOR2
Thank you for always being one of the good guys, your always considered views, and the pleasure of meeting you. No need say more - our views re today's news will coincide. I wish you a good future and, my friend, I hope it is just au revoir. Write again here if you feel so minded and are able to help us.
senseman

Eski
KINDLY stop it. This is no time for handbags.
I merely (as ever) pointed out that CA have absolute right to sell (as all of us have) their shares as and when they make an economic decision to do so. The fact that we were cojoined as friends with common interest only until interests naturally & inevitably diverge never negates that unarguable fact.

I think the deal appalling. If it were straight 12.5p I would still regard it appalling but would understand CA supporting it and could not argue against their right to do so.
My current confusion is that I cannot see how it improves CA position measurably from the current status quo - but there against I cannot argue it is not their right to do so
So kindly cease citing me ever portraying CA as 'angelic' or similar

It is a time for CALM COLLECTIVE HEADS and a little digging. I NEVER trust what HUR BoD issue in RNS's, and a deal needs 75% to pass. So we are not dead yet.
I shall write to CA enquiring re certain issues. But am aware they are on the BoD and are constrained on what they can say (even if they were to wish to)
CURRENTLY the only way I can see deal advantaging (derisking) CA is (if HUR RNS citing CA support is correct) if private deal has been agreed whereby Prax buy CA's 6.5p tokens as soon as deal is legally signed off. Should that transpire I would be considerably disappointed in CA, and opine so. But I currently have no evidence that will occur so have no intention of throwing premature stones. As to whether it would be legal or not, I am not qualified to comment.
A good starting point would be for a few SHs to dig out the names of HUR top half a dozen inst investors after CA, and their top man's direct email address (as well as the comms email address). That is so that any considered collective email (or variation thereof) sent to CA can be copied to top man & comms at those companies also.

Haggis suggests reading through presentation on PRAX website. I have. Tedious but worthy read. Am I missing something, or do ERCE now put economic production till early 2026 (barring well 6 pump failing)?
https://ir.design-portfolio.co.uk/viewer/60/56267