Member Info for senseman

ned
well done on 3.8mill accumulation. and on voting for (note: my personal view only)
i also have a few in sleeper NFX. let's hope the big sleep does not become permanent, it's already been far too long

Ecosse
Could you provide reasons? Many will be interested and consider

Hargreaves say can be done up to 2-3 business days before, at a push. But all brokers like to forward a single amalgamated figure 4-5 days beforehand, rather than in dribs & drabs. So motto is clear - ASAP

Done, voted mine FOR

Remember - there is many a slip betwixt cup and lip. Let us nail down the 3p divi issue. Your broker deadline for voting is likely Wed 5 Jan THIS WEEK

The 11 Jan General Meeting has one Resolution, which if passed will enable HUR to return circa $70 mill (circa 3p a share) to SHs. The Resolution can be viewed by googling Hurricane Energy (for website), clicking 'Investor' tab, clicking 'General Meetings' tab. Resolution is:-

'THAT, the share premium account of the Company be cancelled'

Instruct broker by phone and/or online message to vote 'YES' to sole Resolution at HUR General Meeting 11 January 2023 10.00am. For those wishing to attend address is:-
Library Suite, Royal Society of Chemistry, Burlington House, Piccadilly, London W1J OBA

Do NOT leave voting to others, for want of 5-10 mins effort. It's 'belt & braces' time. We do NOT want any nasty surprises. Although CA hold 29% (and will vote FOR), and HUR BoD recommended voting for Resolution, +50% vote is still needed. I repeat - - do NOT leave voting to others - there are many tricky dickies (& BoDs) in this world

min3r
when you learn to read you will see I state the facts simply as protection. then i leave it. i don't pillow fight. as i won't with you now. i have marked your card for the forum's benefit. i need lessons from you re taking the higher ground like i need a hole in the head. a click on your posting history shows you have never made a single constructive post

And such a shame a certain poster deleted his earlier ADVFN posts attacking me, before he did his 180% tactical u-turn. But can't delete the copy and pastes of them to this forum, my own record, or ADVFN's base record.
That's the trouble today - people never properly think things through
Threatening legal action on a forum - as kooba opines on ADVFN - pitiful

mln3r
senseman does not start pillow fights. he seeks to specifically avoid them.
each time a certain poster tries to start one with me, you immediately jump in portraying me to be a pillow fight starter.
now - if you have something to say to me, state so in plain english.
if you don't, get off my back
you are halfway to becoming a forum greaseball

Yawn...
Our steadfast ADVFN friends kooba & fat frank have been viciously trolled by a vicious newbyish poster
Who is being ernestly supported by a second newbyish poster
Both of whom portray kooba & fat frank to be squabbling children. And cite a certain newbyish poster on this (LSE) forum as being the epitome of responsible posting.
Collective private research and messaging between ADVFN forumites opines the 3 newbyish posters to be the same single poster. One of whom has an identical moniker to a certain newbyish here. Whoever can it be?

Shame - the certain poster was doing so well on here, behaving and cleaning up his act. My advice would be - keep your forums separate. We've seen it all before - a naughty poster gets identified as such on one or other of the forums - so cleans up his act on that forum whilst trying his luck with naughty things on the other forum
Yawn....

lucky - FFS, give it up. don't feed the beast of irrelevance

The 11 Jan General Meeting has one Resolution to be voted on, which if passed will enable HUR to return circa $70 mill (circa 3p a share) to SHs. The Resolution can be viewed by googling Hurricane Energy (for website), clicking 'Investor' tab, clicking 'General Meetings' tab. Resolution is:-

'THAT, the share premium account of the Company be cancelled'

Instruct broker by phone and/or online message to vote 'YES' to sole Resolution at HUR General Meeting 11 January 2023 10.00am. For those wishing to attend address is:-
Library Suite, Royal Society of Chemistry, Burlington House, Piccadilly, London W1J OBA

Do NOT leave voting to others, for the sake of 5-10 mins effort. It's 'belt & braces' time. We do NOT want any nasty surprises. Remember that although CA hold 29% (and will vote FOR), and HUR BoD recommended voting for Resolution, +50% vote is still needed. I repeat - - do NOT leave voting to others - there are many tricky dickies (& BoDs) in this world

BoD obliged by 13 Jan (23 Dec + 15 days) to convene EGM within further 21 days thereafter.
Even 7 Jan bid deadline doesn't leave much time for thinking & RNS. EGM 11 Jan re 3p issue already makes for busy week.

Here's a curly one. If no offer by 7 Jan:-
1. EGM 11 Jan for 3p (change of whatever) vote, which we must remember to instruct broker re voting preference?
2. When would EGM vote re CA's 23 Dec RNS (BoD changes) take place? Crucial we know ahead of time to instruct broker re voting preference

Seasons greetings
Click Gloucester's name at left of his most recent post to bring up his posts which collectively since 23 Dec provide the best reasoning for CA's RNS being a tactic. Whatever one's personal wishes, It must be conceded that he may be spot on.
With OPEC's goldilocks oil price being $95 plus other price factors he sees HUR having $145 mill cash after Feb offload & adds reasonable $100 mill deal value for tax credits, so $245 mill, equals 10.2p a share. So I agree 10p would be nonsense and diverge only on his 12p deal target re what he rightly says is a 'neat' company (ie decommissioning/wind down/BW 6 months costs already in escrow. At 12p a buyer pays only 1.8p for 2 yrs more production + Lancaster/licenses/acreage? When 2 further offloads (lateish April + end June) at $95 oil will net circa $50 mill cash , ie 2.5p a share?. Effectively a 12p buyer gets it's money covered by end May (HUR cash + $100 mill tax credits). Makes 12p look a giveaway, not a buyer's risk. Even a 15p deal does not make it much of a buyer's risk

ned - it's the welsh poet in me. should have culled a couple of tree canopies before posting, but no time to edit..). and you're right re aduk's likely thoughts

People adding their 'two penneth' helps all get a better 'feel'. The more 'two penneth' the better. Posts illustrate that decisions are neither black nor white, but judgement calls. I will read as much as I can re Buckingham's former Heritage. No one is naive enough to think CA (or Albion) are messiahs. Re CA (& we PIs), it matters to REMEMBER that we were NOT dumbos. Collectively, we were hit by 3 unforeseeable 'black swan' events:-
(i) Flawed or rogue CPR Competent Persons Report (at least 1 of the 2)
(ii) Covid
(ii) Flawed or rogue BoD/Restructuring Attempt/Failure to buy bonds @30c-40c in $/confidence destruction

Whilst hugely damaging, (i) & (ii) were NOT disastrous, but recoverable. The disaster was (iii). The back of my *** packet shows (iii) to have lost HUR circa $200 MILL HARD CASH which would now be sitting in the bank on top of our current circa $120mill. And that even with (i) & (ii), but NOT (iii) the SP WOULD NOW BE CIRCA 20p (as well as $320 mill in bank)

Haggis (devil's advocate) cites current values including fair wind 30p value with competent BoD/drill success
ASI makes good point that it's not binary black or white choice (if & when one one must choose), as new BoD reputation if elected will likely spike SP upwards to allow exit near/at/or above current poss low 10p sale price, for those currently finding 10p sale price acceptable. Or simply wishing to exit.
Gloucester again phrases the conundrum of HUR understating value. And even with caution knocking 6 months from CA's (and many PIs) production timeline, puts returnable cash at $330mill ie. 14p a share. Note: CASH ONLY

Such illustrates the value of everyone's three penneth, expressed without fear of punch-up, excess pedantry riposte or post-pulling. May it continue. No one should be expected to measure every posting-word. We are where we are. No one knows the answer. But all will be better equipped to make sounder judgement if we pool collective thought.

Lastly. OUR HUR was a beautiful swan. Crippled by lesser mortals intent on destruction and theft. We & CA fought for it's survival amongst it's funeral pyre. We extinguished the flames and nurtured OUR company. OUR Phoenix fought for flight amongst poisonous debris and fumes. It survived. To fly, recovering but still encumbered by lesser mortals, amongst the treetop canopy. Many PIs yearned for and never surrendered hope that a day would come when OUR Phoenix soared upward and homeward towards the Sun, from the drag of lesser mortals and the dark treetop canopy. This forum, and CA's diligence, was OUR Phoenix's daily morning song to the sun's warming rays.

OUR Phoenix may not escape the dark treetop canopy, and soar. A 10p bid may arrive and be accepted. Life is life. But for the first time, powerful sunbeams of hope strike OUR Phoenix. Sunbeams which may prove transigent or illusory. Again, life is life. But let no one say that our forum extinguished bright sunbeams of hope for want of fair reflectio

Before people decide, it always helps to know the personnel & the possibilities. Here is sample from kooba's recent ADVN post re Albion's Tony Buckingham
kooba (ADVFN) post 28/12/2022 10.42
"What is important to me is that Heritage Oil was a small Canadian listed oiler going nowhere with a market cap of $15m when Mr Buckingham joined as CEO in 2008. He moved it to a London listing and did a series of deals and made significant discoveries. the company's shares rocketed and joined the ftse250 before...2014LONDON - British oil company Heritage Oil agreed a 924 million pound ($1.6 billion; TL 3.39 billion) takeover offer from a fund owned by the former chief executive of Qatar's sovereign wealth fund. Heritage, whose main oil production is in Nigeria, said it was recommending a 320 pence per share cash offer, which represented a 25 percent premium to its closing price the day before the approach was announced. I am pretty sure those who backed him were not so concerned with his background as they banked huge profits. The interesting thing here is whether Mr Buckingham is just interested in trying to squeeze some more oil out of Lancaster or wants a new vehicle to replicate his previous success..it is quite possible he has ideas of reversing significant assets into Hurricane. He is a proven and highly successful deal maker and wildcatter ..if appointed I think we will get a better flavour of plans and I would be surprised if previous backers didn't jump aboard."

it's all about personal preference a a time like this.
despite my dire finances, i hope no offer and no sale
given CA's apparent strategy change, i'd prefer 3p divi and roll the dice as per CA's RNS & new personnel
i think a deal at 10p ish would be too cheap & painful
did we come this far to throw away the chance to truly fly again, when at last the chance appears?

fand - you are correct, Was opportunistic (mis) use of emergency Covid legislation, could not have been tried otherwise. Had to chop/edit severely to limit it to a 2-post 'post', or would have been a book.

My gut (which may be wholly wrong) says CA in recent months reluctantly lost the last vestiges of faith in BoD to pursue/achieve/close any fair value deal, and commercially decided BoD upheave was the only valid option. I never believed CA were at any time 'doing nothing' and think will have been talking to Albion for a fair while. I don't think it's tactical and think Saba's agreeing variation (extension) of the Dec 23 wind-up target (and I believe BoD changes) was crucial. Once decided, speed & substance mattered most. I don't read anything into the 23 Dec RNS issue date.

Perhaps peeps can opine re 'timing', as I haven't a clue. There is currently EGM listed 11 Jan for 3.1p vote issue.
1. Assuming NO BoD acceptable offer is made by 7 Jan - would the 11 Jan EGM also be the EGM whereat CA's motions for BoD changes are voted on? Or can the BoD refuse this and schedule a further, separate EGM for a later date?
2. If a BoD acceptable offer is made by 7 Jan, when & how would SH's vote on offer? Would it be at 11 Jan EGM? And if so which (or the 2 or 3 votes) would take order preference?
To complicate matters is the usual 4-5 timespan for voting by proxy (ie telling one's broker) which way to vote.
Can anyone enlighten the forum generally on the above? Specifics would be helpful

The facile explanation given for this failure to instantly secure HUR’s safety has been ‘We relied on paid advice’. Excuse me? Why need ANY paid external advice when HUR employed it’s own 2 legal experts? And if $17 mill is spent on advice, is it not axiomatic that resultant advice will be self-serving?

The view of SHs attending HUR’s June 2022 AGM & later speaking with CEO, CFO & CHAIR was lack of transparency; that all viewed HUR as their own fiefdom; and that even major SH CA was considered an irritant.

RNS SPECIFICS
Interpretation options range from CA & Albion believing Albion can by end July 2023 engage a company to input $250 mill for drilling in exchange for a 50/50 future profit split (HUR’s perfect deal – no financial risk) - to a riskier variation wherein HUR incurs cost risk - to the RNS being a tactical ploy. If tactical we will soon find out. HUR have responded by giving a 7 Jan bid deadline.

If not tactical, kooba on ADVFN opines that Albion (Buckingham) has a proven record as discover/ dealmaker/ profit maker/ fan base. Have Albion seen something in the data that HUR did not, or opt to ignore? And CA must be driven by strong commercial reasons. The current bottom line questions seem – would Albion do at least a 5% better job within 12 months than the current BoD, and at least a further 10% better job (from 10p option point) within 24 months? Note: if EGM resolutions pass, CA will be released from it’s ‘radio silence’ obligation (which I am sure it has not enjoyed). Note: if CA sell it’s HUR shares before 30 April 2023, Albion are gifted 20 mill of CA’s HUR shares at 7.7p option.

BEWARE FALSE PROPHETS
Certain posters continue to opine that the current chief execs are trustworthy. And CA not. Nor, by association, will any new party be. I also address the nonsense that POO ‘unexpectedly saved’ HUR. POO ‘saved’ HUR only in so far as the sun rising each day ‘saves’ the earth. In June 2021 (court) Covid was beaten and POO rising fast in recovering market was $60-$65 in line with historical precedence that markets recover quickly and stronger. Against a chronic under investment backdrop. It was self evident that POO would reach $80 by Dec 2021 & $100 by early 2022. I, a lay individual, predicted such. The judge, applying conservative yardstick opined (paraphrase)..’If HUR are short of a few quid come bond repayment date July 2022, it can easily borrow a few quid’. Fact - HUR RNS 11 Aug 2022 (bonds repaid July 2022) ‘As of 31 July 2022, the Company had net free cash (4) of $89 million’.

Whereas much will become clear in future weeks, it is human to doubt at stressful times. That is why perspective matters. I reiterate my reflective comment. Could someone save this post in case for any reason it is pulled. Notwithstanding that the content is as vanilla as possible to avoid such.

‘One needs very good reason to doubt a steadfast friend. Radio silence dictated by legal necessity does not constitute good reason.’