RE: RNS until 28th April19 Apr 2022 12:03
Amidst biting my tongue to post politely, I despair and point out the following:-
1. In June 21 the BoD lied to the Court in stating that a Bluewater (Aoka Mizu) extension was impossible. Bluewater's CEO was so enraged he emailed Richard Bernstein of Crystal Amber stating this was false and that Bluewater had made crystal clear to HUR that they wished to negotiate an extension. With Bluewater CEO's permission, RB copied that email to the Judge.
2. In June 21 the BoD deliberately withheld from Court a crucial document evidencing longer economic production and greater barrellage still in ground than they argued in Court. The difference was circa $200-$300 profit. I located that document and emailed it to the Judge.
2. In Jan 21 vaccines proved to be effective, so much so that by June 21 Brent was already circa $65 and rising. I posted that Brent would be $80 by Xmas (reached Nov 21) & $100 Q1 22 (reached Feb 22, pre war). I reached this common sense view on the basis that (i) as Covid further diminished the rise would continue (ii) historically markets always rebound more rapidly and strongly than expected (iii) pre-Covid Brent was already rising due to years of underinvestment due to low oil prices. In other words, the supply shortage imminent even pre-Covid would return with a vengeance as Covid killed investment stone dead. (iv) a few thinking oil analysts wrote similar opinions.
I thus regard any comment that the BoD did not act improperly, and can be trusted, as lazy fantasy and rewriting of history. Also any comment that no one could foresee $100 Brent - it was clear to any thinking person. Such comments, in my view utter lazy nonsense, present a danger to relative newbie HUR shareholders who may believe such comments and thus misguidedly trust those old BoD senior executives who currently remain in place.
I do not believe any company will either buy HUR, reverse takeover into HUR, or farm-in, whilst the current senior executives remain in place. Certain opinions here this morning are laughable
I
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