Member Info for shamI89

As a matter of fact most of these so called "long term holder's" got in for a quick trade and got caught in it. Almost all of them knew equity was worthless but were still ramping it madly to lure others in to get out. Am I supposed to feel sorry for them? No, they deserved it.

Pointless exercise as it looks like bondholders won't get their £100 millions back either in fact they would be lucky to get 1/3. It was crystal clear to everyone after last four updates that there was no money to pay coupon but then we had likes of Coldspy, poorinvester and many more who were sprouting all sort of rubbish to lure newbies in. Why did bondholders not take advantage of "historical losses" and why did they not wait for summer when company could have turned over half a million everyday?

Has tried to dangle some carrots in front of investors. DRC and few other contracts have taken longer than usual but they can be signed at anytime. Fowler Clan needs paying and they can't keep on using overdraft facility forever. But this is longest period without a placing and for that PF should be praised

It should not last more than two days so keep ramping!

Hurricane did have £160 millions and needed to pay £250 millions, there was a good chance it would have paid and it's institutional investors rallied behind shareholders. I did try to warn people as there were very few people who were throwing all sorts of numbers like half a million revenue a day, gas price would go through roof this coming winter, this would be taken over, this is sitting on historical losses which can be used. Bla bla. Problem is this company only had 10% of what needed paying and missed on coupon payments. Bondholders have been patient and they gave of chances to management to sort out this mess. This company had four chances, they drilled four wells and each one of that turned out to be a failure. I was 50/50 on administration as in my opinion bondholders won't pull the plug as these assets were worthless and realistically only chance of them recouping any money would have been through increasing production by drilling a new well. Looks like they would bring in their own people for drilling. As far as this lawsuit is concerned, I have seen countless people trying to sue BOD and none of them received a penny.Coldspy must have been speaking to his lawyers for quite sometime and about time he takes this war to management.

I think We have been through this before but let me tell you this again. Due to rising price of oil Hurricane was generating enough cash to pay off bonds. Bondholders tried to impose D4E knowing fully well that company was in a position to pay off bonds. You can't compare Hurricane with this one as this company did not even pay coupons.

These assets were worthless for God's sake.

How is it looking? Lol

Crew, equity was worthless but these guys still ramped it and tried to lure others into investing in this post.

After last Rns it will a pure gamble, as last time bondholders pushed coupon payments to 29 September and increased bonds by 5%.They can't keep on doing it and it is pointless exercise if they are not getting paid anything.

I did warn people and you will be fool to think that a few posts on this bb can influence shareprice.Infact there has been mindless ramping by quite a few people and shareprice has nosedived. Market is factoring in complete equity wipe out!

Not economical due to water cut issues as per last Rns. Unless gas price increases massively it is economically viable. Problem is they made similar claims about other wells and none of them has been brought to production.

Bondholders have appointed a person who is monitoring situation and is advising company on turnaround. Problem is there is nothing much they can do if company is not producing anything.

If H2 is still producing as "natural decline" has led to 50% decrease in production in 6 months. Funny that none of you mentions "historical losses" anymore.

90% chance of debt to equity swap as can't see them let this running to pay BOD salaries. 50/50 on administration as assets are worthless and bondholders won't get anything for these if they put company into administration. Equity is worthless.

More like a "pump and dump" to let out trapped investors. Deadline is approaching fast.

Hur was in different position as due to rise in price of oil, they were able to pay off bondholders and bondholders tried to impose debt to equity swap when company was on the way to pay off all of its debt. It is a completely different scenario here as company has only 14 millions left half of which is restricted, and has to pay roughly £120 millions. It was a different story last year as no one thought we will see multiple operational failures, this company had more than one chance. H2 has proven to be operational failure and is only producing asset at the minute.

Equity is worthless, only gamblers will get in right now. They have already pushed the payment to 29 for extra 5% but that has not worked as it looks like company has not paid them and has burnt through 7 millions. Can't see them granting another waiver for BOD to draw their salaries, I am 50/50 on bondholders not pulling the plug.

Not really, no position as in my opinion there is no equity value left and whatever way you look at it there is no way company can pay off bondholders. There will be a few attempts to pump and dump it but I suspect we have a major seller in background.

A lot has changed since last update, production has nearly halved, cash balance has fallen by 33%, and we have another coupon payment due shortly. It looked like H2 was last throw of dice and may be bondholders agreed to an extension to see if things get any better. Company cant pay any money and deferring a payment won't solve anything. A new drill is on and shareholders would fund it. Bondholders may not pull the plug yet as assets are worthless