Member Info for Slift

But she's looking for a Down Town Man

Yo DA, in response to your positives.

Brent amazingly trading at ~$70
Great, it's offset by decreasing production.

Significantly increasing net-cash for HUR at perfect timing (still 15 months left to re-pay the debt with plenty of cash already in the bank!)
Wow nice! So it's beneficial for bondholders as they are getting repaid! Where's the cash for shareholders?

A potentially better than expected CPR this very month (post last September’s strange brutal kitchen sink of assets)
"Potentially better"??
The resources are calculated based on OWC. The reserves are calculated based on FWP.
From recent communication, they are unsure of FWP.
Any reserves on CPR will be dependent on FWP, which is an uncertainty atm.
But keep hoping.

Vast Prolific West of Shetland Acreage
Yes, but not utilised because of incompetent management. I agree with this point though, significant value in HUR's assets.

Absolutely Huge Tax Credits......,
Lol, almost all oilers have huge tax credits following 2020 impairments. So irrelevant.

Most undervalued/oversold U.K. Oiler trading today!
No.

Wishful thinking eurofil.

What reason do people have to invest here?
$230m debt?
Depleting reserves?
Increasing watercut?
Incompetent BOD?
Going concern statement?
Dilution fears?
etc.

Fewdollorsmore,

If you like undervalued oil shares. Check out ECO.
Great management and HUGE potential untapped.

Nothing exciting happening over there in the short term, but still very undervalued for what they do and have.

fewdollorsmore,

Yes, good luck to you there. There is still more potential for Tullow, but not enough for me to make an investment there.
I sold out as I saw little growth opportunities going forwards for Tullow with the sale of their assets.
I may invest in Tullow again should they strike oil in Suriname or if the EG assets fail shareholder vote.

Not holding anything here. No hope for HUR with deferral of FWP. Potential is lost here. Only thing remains is a takeover.
Or that's how I look at it, will see how the BOD reacts in 2021.

Hi Mr fewdollorsmore,

Yes, I sold my holding in TLW at 44p.
No motives, everything I posted was my own opinion.

Cash machine for bondholders

4.2% holding.
Will likely have a holdings TR1 RNS for this.

https://www.lse.co.uk/ShareTrades.asp?shareprice=HMI&share=Harvest-Mi-Di

7.9m trade today.

Wonder what's going up, unusual for HMI!

No idea if HUR still have those licenses. Who knows with this communication.

But you're prob right, no Warwick is a write off.
AM likely costs more than the EPS to buy haha.

For future CAPEX projects and developments Sergei project.
HMI are looking at 25kg bags, so would need CAPEX for that. I don't believe Harvest can self fund CAPEX just yet.

But more importantly, we need to beat sales target for this year.
Would be interesting to see how well we do in Q1 during the quiet period.

CaptSwag,

Even after big downgrade in resources, there are still a lot of resources available in the assets, not accounting for Halifax, sandstones, Warwick.

81 million barrels of 2C resources (Lancaster + Lincoln net to HUR). Or 103m barrels of 2C total (gross).
The AM has capacity for 30k bopd production with 3+4 years option(s).

To fully utilise AM and to create max shareholder value (not accounting for AM upgrades), a FWP that would provide 76m barrels 2P RESERVES Gross is required (at least 67m net to HUR).

This may mean more than one well, injectors, etc and would cost A LOT more. But there are benefits to both those who fund, and shareholders to invest the CAPEX to deliver the value.
The operation cost of such project would also be reduced significantly providing more cashflow and profits to service debts and provide shareholder value.

But hey, the BOD wants to spend $140m on a sidetrack and water injector and keep the company on a life support until failure.

Also think current BOD have messed up their chances of securing ANY funding at all following the disastrous communication and attitude they've had.

Best thing to do is to sell the assets to Harbour, BP, Ithaca Energy etc. who have the resources and management to create value from these assets.

Taverham,

As I read it:
- Bondholders aren't happy with the FWP
- Other Stakeholders (finance/funders to the FWP) aren't happy with the FWP

So bottom line: No finance agreement, and no bondholder support.

The current FWP is pretty much no more following the discussions regarding risks and "intelligent completion".
They need to rethink the FWP, to both derisk and to provide more upside for all stakeholders. But BOD chilling on their monthly paycheck :)

You mean £2.42/share value.

Think they're being conservative there?

Hopefully the next update includes some kind of funding arrangement for HMI going forwards.
As a company producing cashflow and profits, the bank should be able to provide HMI a loan.

No way! I wouldn't invest here until at least the following:
- FWP with confirmed drills that will truly create significant shareholder value. Not some sidetrack.
- Dilution (it will happen should this company continue operating)
- New proactive and reactive management
- More certainty

I do trade HUR every now and then for 10%!

Absolutely RNSTranslator,

"significant value" for the company and shareholders is created by investing in the assets and developing the assets. Not deferring it FOR 2 YEARS.

Shareholders need to wake up. Risk/Reward is significantly higher with this deferral.
It's all good betting on oil prices, but don't forget oil prices can go the other way, with the main control on oil prices in the hands of Saudi Arabia.
YE21 is the end of OPEC agreement. As watercut increases, production will decrease. The economic limit for remaining reserves is totally dependent on these.

Elementary,

I'm talking about the most recent RNS dated 2nd March.
HUR have restated the risk to dilution in the fine text.

Why state it if irrelevant???
Personally, I think you're just deluded.