Member Info for senseman

daltry
you are either deviant (like 1616), cannot read, or are a fool. there is no 4th alternative

the next RNS is eagerly awaited and will be interesting. it is unlikely to be a ball breaker either way. there is more likelihood of it improving upside, rather than downside

1616
1. (a) explanation already within kooba's posts
(b) stated by HUR to BHs in LENGTHY, COMPREHENSIVE document before scam plan was instigated
(c) bubble point does not equal production cessation - and nowhere within HUR recent RNS does it state that it does
2 the specifics you raise were considered and opined upon by experienced well engineers prior to HUR issuing the
LENGTHY, COMPRENSIVE document to BHs. Including bubble point being reached approximately now

Since nothing has materially changed, the need for anyone to respond to you in any other way naturally falls away. You are being deliberately obtuse. And so are your questions. Both you and your questions are meritless. I suggest you ask HUR if you want specifics on how they propose to manage the well post bubble point.

And further from Kooba - HUR & BHs risk-assessed that bubble point, gas etc were manageable issues which would not prevent HUR being economically viable till circa Feb 2024 & poss longer. (This was actually summarised in a document HUR produced to the BHs but deviantly both HUR & BHs withheld from it from their court evidence bundles. Fortunately it was discovered by a SH during the actual hearing and produced to the judge. It helped sink the scam plan

'One has to remember the whole point of the proposed restructuring was to extend the repayment date taking advantage of the post redemption anticipated production..this obviously was risk assessed against bubble point , continued working of ESP and generally the life of the well as demonstrated in the company's own models of economic production to end 2023 ( could be longer?) otherwise what was the point..the bonds had first claim on assets and could prevent new unnecessary capex ..if they really thought there was overwhelming risk of production ceasing for either of these factors they were blowing $20m of their money on restructuring that had no purpose. They obviously were convinced after months of DD that continued production was the most likely outcome...I'm convinced if the restructuring had gone through the AM extension would already be signed..probably shortly after the high court approval.'

The current derampers are aware of all of this.

further advfn post from the always excellent kooba - BW extension essential to running business next 12-18 months (till Feb 2024 actually), hence normal business running costs and not 'extra or new expenditure' requiring BHolder agreement

'Points taken especially on a future plan, however the company previously argued they couldn’t do a bond buyback as it was not clear they could fully pay the principal back (never understood that one as one would have massively benefitted the other in terms of debt outstanding..the inactivity cost Ms)…they seem to have got over that hurdle on using company funds now having repurchased the majority of the outstanding bonds for cancellation. Does this mean they received bondholder approval which previously was not forthcoming or they acted without?? Will we ever know? If they acted without it indicates they are indeed running the business in all stakeholder interests ..the extension of a charter must be argued to be essential to the on going business and therefore the normal course of business not additional expenditure. I think there is a very strong case that committing to the extension..depending on terms ( i believe the company still hold funds in escrow against early cancellation. At the interims end June $18.7m down from $26m at year end) that securing such service at what might be a small increase in current escrow is fully justified.'

good question JODO
and from kooba on advfn 09.32 am this morning
' I think the company should be able to run the business on risk assessed modelling after all thats what they used to try to disenfranchise the shareholders and dilute them out of sight.If no business can make decisions while a $ of debt is outstanding uncovered then that would be ridiculous and there would be no point in having debt sitting there covered by cash !!The high court made it clear they saw it as being in every stakeholders interests that the FPSO contract was extended if i was a director i would be probably more worried from a litigation point of view if i missed the opportunity of securing such an extension which it appears was and is available..obviously i do not know the terms. But extending production as per company modelling to recover a further 4m barrels..maybe more is a far more significant upside opportunity than fretting about an outside chance of the bondholders not being fully whole by July 2022. I believe shareholders would fund a modest gap to see 12-18m of continued production and wave goodbye to remaining bonds. It appears unlikely to me on the current variables there will be a shortfall to CBs. If for any reason the company dither and miss the extension then the directors should personally worry as CA don't mind a court appearance either. The fact that any shortfall even without the next due offload would have been pretty much covered by the expenses on the failed restructuring should again focus the boards attention on their stewardship and fiscal responsibilities to all stakeholders...particularly their shareholders !'

I have been filtered by Squariel the Whinge. I shall not be losing any sleep. He cries 'I want, I want' but fails to explain how HUR can publish a meaningful future work plan whilst Bond money is still owed and BHs would immediately cry foul and welcome the door being opened for another opportunity to steal the company or make mischief. He has the brain and patience of a twig.

He also fails to see that quite unnecessarily aligning himself with the canary stooge derampers fuels deramping activity

The foremost objection to the derampers is their absolute failure to ever present a BALANCED view. For them it is always one-sided doom & gloom & inevitable black-swan events and end of HUR.

Erudite SHs have made clear ad finitum their full awareness of risk posed by one well, bubble point etc. It is abusive to PERSISTENTLY & DELIBERATELY ignore that SHs are already aware of the risks. The deliberate 2022 canary stooge tactic is already clear - to forget their appalling history and now present themselves as 'the good guys', and balanced posters as 'the bad guys' They are trying this tactic (and failing) over on ADVFN, to where a few of them have decamped and write under different names because they were failing so badly on this forum

vannuys
don't be shy. do speak up
you have just posted for the first time
are you a newly employed poster for the dark side?

vannuys
as a newbie having posted just twice - you state why you want to know, and i may be more forthcoming

12
never ask a lady her age

Lovely. Fat Sammy...lovely....senseman calls it .....'Smack the Slime Time'
Whereas the filter button is wonderful, needed also is a few posters to 'Smack the Slime' when they crawl from their rock or pond. Purely to prevent the Slime infecting new posters unaware of HUR's history.
Having today made a fair few pennies on the just ended Saffer v India cricket test match (senseman's knowledgeable earning hobby)...it gives senseman considerable pleasure indulging his visceral hatred of 'Slime' - immoral & amoral 'things'
Genghis is amongst the lower order of slime - easy to highlight as slime

FACT 1
A year ago vaccines were already working dramatically and Brent was already on a rapid recovery trajectory - on 1 Jan it was $53, on 31Jan $56, and June 20 (court hearing) was $74. Early Jan 21, thinking SHs knew bonds would be repaid on time, and earlier than July 2022 if necessary
Your rhetorical statement question - 'who would have thought it possible?' is thus a crock of crap. Bond repayment was never in doubt

FACT 2
Most BHs, in line with normal practice, would have been perfectly happy to negotiate early doors a 1-2 year extension for a coupon of extra interest points on the coupon. And NOT colluded in spending minimum $17 million of HUR's own money in trying to steal 95% of HUR (value circa $500 - $600 million) in return for knocking off a peanuts $50 off the bond debt and agreeing an extension with extra interest points added to the coupon. Not bad business, eh - effectively paying circa $20 million for a $500 - $600 million company?

FACT 3
New poster Jimmy is an as bright as a button most welcome poster. Compared to you and t'other stooge canaries, he's Einstein

It would make all thinking ethical SHs happy if you crawled back under your rock for another month or two

you've missed all the positives out, genghis
it's called balance...
you cheeky little deramping canary

the slight downer, of course, is that HUR oil buyer BP can choose average of either first (is it 5?) days or last 5 days of delivery months of delivery month. brent was still bouncing up from mid- high 70s at start of month. at least if brent stays above 80 till end jan, then HUR should get high 70s for offload. and 80s at start of feb will be good - esp if at end feb it's same or higher, at present HUR losing a few million each offload as we're getting stung with a covid induced blip at the wrong time

i recall some would complain re his anecdotes - and thereby miss the wood for the trees. regrettably the true value of someone is usually only appreciated when they leave the stage. it's like when a good friend leaves the city where one lives - the city suddenly seems a less sunny place

Fred Bloggs headlining at the Comedy Warehouse next 2 weeks starting Friday

excellent balance as usual from kooba on advfn - advfn well worth a 5 min read each day.
thanks morganna for posting

Morning Jimmy
SHs are aware of bubble point and the issues it raises. They elect not to debate the issue with 1616 et all because doing so would entail entering a vortex of deviancy, deliberate irrationality, and lack of perspective.
I post whilst watching cricket test matches. When none on, I'll leave it for a few days. The forum seems to work like that, as soon as one poster goes quiet, someone else steps up to carry the slack. Currently the canaries are having a pop at me, next week they will target someone else. They are predictable and of limited intellect compared with many erudite and knowledgeable HUR SHs

It's lovely to see Brent back at $80 and HUR going from ankle deep to knee deep in cream again.
And to see 1616 et al having to work so hard to keep the deramping ship afloat

demand outpaces supply - supply crunch approaches
https://www.eia.gov/todayinenergy/detail.php?id=50738

giving the canaries their daily smacking is now too easy. they don't have a creative braincell between them
latest crapology mantra - the statistical black swan POSSIBILITY of industry-standard manageables such as bubble point gas, water cut etc becoming a terminal well shut-down issue is a PROBABILITY
night is day, black is white, Hitler, Pol Pot & Stalin were nice guys
at least it hones SHs' wordsmith skills
but really - toerag canaries - can't you do better? - your incompetence is boring the tits off us all - my pet urang utang Cedric could do a better job - and he only needs a few bananas as payment

shares have been in sticky hands for past 2 months. few want to sell at this SP level