Member Info for senseman

15 REPORTED EMAILS SENT SO FAR - TARGET 50 - PLEASE EMAIL - DO NOT LEAVE TO OTHERS!
I have sent the below email 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 Chairman

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"

For reasons stated, it is hugely counter-productive for the monthly update to cease. Since CA were instrumental in instigating the monthly update and are likely to dislike it's cessation, I have copied to Richard Bernstein. Do email the 3 email addresses if so minded, with either identical, or amended as one considers appropriate. Make no mistake - no monthly update will mean significant SP slippage - precisely when the Company requires the opposite. I find the decision INEXPLICABLE - saying goodbye to monthly Energy Voice, Proactive. Malcy, Morning Star etc comment now there is nothing but rapid progress to highlight each month - rapidly increasing cash balance and well 6 performance.

reducing info flow must affect visibility & SP - WHY ON EARTH do it now? at AGM Chair promised remuneration committee would look at BoD buying shares, and also performance related share options or similar. if so, cheaper SP good for BoD

rfarfa - original email today 14.05
9 emails so far (2 from ADVFN) - so we are up and running. keep sending - target is 50. don't leave it to others

Since CA pressured HUR to start publishing monthly RNS updates, I cannot see they would wish them ceasing. Each monthly RNS gets commented on by Energy Voice, Proactive etc. From now on (for the first time) they would be all good - monthly spotlight on well 6 quality performance and increasing cash. Regular free publicity - JUST WHAT WE NEED. Ties in with flying's general point - REPEAT, REPEAT, REPEAT, NEVER ASSUME PEOPLE KNOW - THEY OFTEN, EVEN USUALLY, DON'T. How miserable it will be to be reduced to a quarterly update given the crap we have gone through, and with the sun just starting to shine on us. For CA to be able to pressure Board to continue monthly update, we need to give CA tools to pressure chief execs with Board support. Hence copying in to RB. Have also copied post to ADVFN
A tedious 5 mins it may be - but we need 50 emails minimum. If email (or have emailed), please indicate. Let's get the job done quickly!

I have sent the below email to:-
philip.wolfe@hurricaneenergy.com
comms@hurricaneenergy.com
rb@crystalamber.com

"Subject header: Hurricane Energy Monthly Operational & Finance Updates - For Attention of The Chairman

FOR THE ATTENTION OF THE CHAIRMAN
Dear Mr Chairman

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 be aware that the monthly production & finance update has been a source of considerable interest and comfort to shareholders as the Company recovered from the dark days of 2021. Not out of voyeurism, but on account of shareholders’ well developed knowledge base of the Company and industry. A knowledge base which indeed contributed towards the Company surviving 2021 without a 95% dilution occurring.

It would seem precipitous to cease monthly updates simply because the Convertible Bond has now been repaid. Shareholders are aware that that was only half the battle. And that as long as the 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 said it has become so normalised a Company that it is timely to now revert to quarterly updates. Perhaps in a further 12 month’s time, but not yet. The monthly operational & finance update is an essential focal point for innumerable shareholders.

I write to ask that the Board reconsider it’s decision, and continue the monthly RNS update. This would not only be greatly appreciated by loyal, long term shareholders, but I am sure by a wider reporting market and potential new investors. The Company’s light has been hidden under a bushel for too long. Now it has begun to shine, it needs to be frequently seen.

Yours faithfully
Name
Shareholder (Long term)

cc. Richard Bernstein, Investment Adviser, Crystal Amber Fund Ltd"

For the numerous reasons stated, I believe it counter-productive for the monthly update to cease. I have copied to Richard Bernstein, since I believe CA were instrumental in causing the monthly update to come into being, and are likely to wish to see it continue. Do email the 3 email addresses if so minded, with either identical, or amended as one considers appropriate

Does anyone know exactly how long the annual maintenance shutdown is scheduler to last for (assuming no problems)?

On basis EPl was Johnson knee jerk reaction to falling popularity, Truss & Kwarteng (her likely chancellor) opposed it, and Betfair have Truss at 1.13 (nearly 1/8 on) for PM, likelihoods are (i) Truss PM (ii) EPL pulled/cancelled/amended (call it what you will). If so, 20p SP comes into play even on do nothing further basis
HUR Chaffe P6 production projections
Aug 22 - end Dec 22 = 1.3m barrels
Brent $110 - BW 8% = $101.2 - $35 OPEX (Chaffe AGM) = $66.2pb profit = $86.6mill less annual shutdown, say $75m profit.
$90m end July cash + $75m end Dec = $165m cash end Dec 22 (6.8p a share)

2023 (Jan - Dec) production projections = 2.8m barrels
Using same Brent $110 & $35 pb OPEX = $185.4m profit. Less annual shutdown + slight higher OPEX. Say $170m net profit
$165m + $170m = $335m cash end Dec 23 = £277m divided by 2 bill shares = 13.85p a share
Say $100m added cash Jan- Dec 2024 if P6 no problems & managed properly, adds 4p more = 17.85p a share

End 2022 6.8p a share
End 2023 13.85p a share
End 2024 17.85p a share
At any point add 6p a share tax benefit (discounted from 14p) to industry buyer
For P8 add $160m profit (min $250m - $90m costs) = £132m = 6.6p a share (rising to poss 10p a share if P8 5 mill barrels)

The beauty of no debt + cash + $110 brent

thanks dyor. quite agree. if going to be done, a bit of hurrying and telescoping times frames would help
at the agm one of our crowd spoke with NED david craik and reported having interesting conversation re the 2 CPRs and his view of where reality lay. can you recall which one of us it was as would like to give him a nudge to recite the bones here aa can't recall the detail?

Forgive the daft question - tired mind - if someone could help?
If new well P8 is given green light (by end summer as promised at AGM), and assuming successful 2023 drill, when is (i) drilling slated to start? (ii) when is 1st production slated for? Is it Q3 2023?
Has the above info been published anywhere so I can read? Thanks

net of epl. i see 17.5c or 15p a share in P6 if managed properly and pump holds. 15p + 6p tax value to purchaser = 21p.
a producing P8 and we're off to the races.
my hope is that something visceral stirs within CA again and they decide to play hardball

kama
posted under the £1 banner to limit threads. people know we all do this.
been musing - brent won't be $59 in feb 24 so problem free P6 will be viable for 6-12-18 months longer. lets be conservative and say just add half a million barrels to HUR predicted 4.5 mill = 5mill barrels
oil say av $110 less BW 8% off top, so round figure $100 barrel to HUR. less (let's be generous) $40 barrel OPEX = $60 profit a barrel. so $300 mill profit added to already $100 mill (round figures) = $400 mill less EPL
so 20p is a goer. if P8 happens and produces, 40p isn't fairytale land. we can dream

that gives monthly production figures till feb 24 alone (in k barrels) as
aug 266.6
sep 258.0
oct 263.5
nov 252.0
dec 260.4
jan 23 257.3
feb 229.6
march 254.2
apr 243.0
may 248.0
june 247.0
july 241.8
aug 238.7
sept 231.0
oct 226.3
nov 201.0
dec 195.3
jan 24 182.9
feb 162.4
TOTAL 4449.0 = 4.449,000 barrels

P6 production has been, and is, precisely in line with the 'promotional literature' documentation HUR gave to bondholders in persuading them to stump up $230 mill originally, was the documentation deliberately withheld from court bundles, where different. lower figures were inserted. the correct 'production profile' figures, listed below, predicted economic production cessation end Feb 2024, using Brent $63 2022, $61 2023, $59 2024. So what is correct P6 economic end date if brent +$100 2024? And work out staggering net cash profit left in P6
2022
jan feb mar april may june july aug sept oct now dec
9.1 9.0 9.0 8.9 8.9 8.8 8.7 8.6 8.6 8.5 8.4 8.4
2023
8.3 8.2 8.2 8.1 8.0 8.0 7.9 7.8 7.7 7.3 6.7 6.3
2024
5.9 5.6

flying
a certain poster did not buy at 0.32p. because the lowest it has ever been was 0.65
the poster also tried to close down free speech on the forum via failed complaint to moderator
i could go on...
the poster relies on a period of 'reasonableness' to sucker people like you
the forum does not do petty spite (save for a certain poster).

we get it cebo, we're neither daft nor deaf
but that may not happen, and my question was quite specific

I get and concur the P8 dual purpose thing. But the EPL details still as clear as mud. eg.
Lets say May 22- May 24 ie 2 yrs HUR throws off $320 mill profit @ $160 mill a year. So EPL is $80 mill ie $40 mill a year
Lets say P8 costs $80 mill, in same 2 yr period eg $30 mill up to 4 April 23 end of tax year, $50 mill say April 23 - Sept 24 (ie in tax year April 23 -April 24).
So EPL $80 mill, explore costs $80 mill. Do HUR pay just 9% of $80 mill as EPL? If not, why not?
Ignore the precise figures - are just for illustration. Am seeking simply lay explanation visiting man from moon would understand. Most particularly, how are applicable cost timespans calculated, eg is it annually over each tax year?
Hope someone can grasp the essence of my meaning, and answer

flynchy - concrete examples always help so please can you when minded (and all chip in) explain how it will work
eg. (very simplified scenario)
say hur want spend 100mill total in combined tax years april 22-23, and 23-24
say epl tax payable for same years combined is 100 mil
would not hur simply not pay the tax (save for 9 mill) cannot offset?

ron - beware of new best friends seeking legitimacy via you

missdosh - apology as have just read lower link in your 21.00hrs post yesterday - yesterday it would not open for me. The link is of a 65 yr old man (suspected suicide) found in French river 8 September 21.
Please forgive my asking the obvious and perhaps daft question - how was it conformed to be aduk? I can't find any ancillary or related articles via google search and am afraid I don't know aduk proper name. Thanks

missdosh - a most serious question, do feel free to ignore if sensitive or painful. do you know if aduk passed away from natural causes (and of what nature), or whether he did end own life? and if minded do provide a little more detail about his last months. what you wrote will sadden many LTHs, whom am sure would like to know a little more. again, no need to respond if not minded - no one will take offence
if he was lonely and depressed - it is certain that the cyber bullying and being stalked will have affected him. it affects even the strongest, even when they are neither lonely nor depressed
i never lose sight of the undisclosed personal relationship & health damage done to LTSH, stranded at high SP, by avoidable past events
to that i add the stress place upon some of cyber bullying and stalking, which I intend to write more about when HUR's end game occurs and i am more mood-minded