RE: Email TO CHAIRMAN - RE CONTINUING MONTHLY OPERATIONAL & FINANCE UPDATE3 Aug 2022 10:02
35 EMAILS SENT (LSE + ADVFN) - 15 MORE NEEDED TO END TARGET 50 - TEMPLATE BELOW - PLEASE EMAIL & REPORT
Others & I have sent the below email (or variation) to:-
philip.wolfe@hurricaneenergy.com
comms@hurricaneenergy.com
rb@crystalamber.com
"Subject: Hurricane Energy Monthly Operational & Finance Updates - For Attention of The Chairman
FOR THE ATTENTION OF THE CHAIRMAN
Dear Mr Wolfe
The Hurricane Energy RNS dated 19 July stated:-
'Following repayment of the Convertible Bond, the Company intends to reduce the frequency of it’s production & finance updates to quarterly rather than monthly, being more in line with standard industry practice.'
You will know that the monthly production & finance update has been a source of considerable interest & comfort to shareholders as the Company recovered from the dark days of 2021. Not out of voyeurism, but on account of shareholders’ highly developed knowledge of the Company and industry. Knowledge which indeed contributed towards the Company surviving 2021 without 95% dilution.
It is precipitous & inexplicable to cease monthly updates simply because the Convertible Bond is now repaid. Shareholders are aware that that was only half the battle. And that as long as single well dependency exists, monthly well performance, production & finance figures remain crucial. The Company’s fortunes currently remain so finely balanced that it cannot be reasonably argued it has become so normalised a Company that it is appropriate to now revert to quarterly updates. Perhaps in 12 months' time, but not yet. The monthly update remains a current essential.
I ask that the Company immediately & urgently revoke it’s decision, and continue the monthly RNS update. This would be hugely appreciated by knowledgeable, loyal shareholders. Also by a wider industry-reporting market, and potential investors. The Company’s light, once nigh extinguished, has long been hidden under a recovery bushel. Now it begins to shine , it is right that it be regularly showcased. The Company owes this promotional duty of care to shareholders.
Yours faithfully
Name
Shareholder
cc. Richard Bernstein, Investment Adviser, Crystal Amber Fund Ltd"