Member Info for Surfit

Rockhopper the Hotel Califonia
The BoD would like to welcome our new share holders and those that escaped , sorry I meant departed, last time.

They livin' it up at the Hotel California
What a nice surprise (what a nice surprise)
Bring your alibis

Mirrors on the ceiling,
The pink champagne on ice
And she said "We are all just prisoners here, of our own device"...
Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
"Relax, " said the Sam the man,
"We are programmed to receive.
You can check-out any time you like,
But you can never leave! "

We have your money now, hahahahahahahah

GLA
Rgds Sft

"Kistos Energy"
Rgds Sft

Well Rookie1 been into Kistios since 150 and have not regretted that. Serica being gas look good just needed to reduce my average here., Sericas main investor (the builder) has done very well from them.
Rgds Sft

Well already kicked off with a 10p drop from close: All those after hrs trades?
Rgds Sft

36 EIG
AND
34% Former EIG Investor's
I just do not see EIG handing over share control of HBR so they should be acquiring to protect their position....but that's just a guess. What happens if they want out? ( which I do not think).
Rgds Sft

Hi Oil, EIG has 36% and they are locked in until March 22. HBR investor relations confirmed this and "We do not share the names of shareholders beyond those who have publically disclosed their positions above 3% via a TR-1 notification"
So still no understanding on who what status of the other 34% (EiG for investors) 18% PMO creditors.
This continues to be my problem in understanding where to accurately find out..as we have not had RNS's issued when that 3% and above/ below has changed....maybe there is a way of applying for info on TR-1 notifications?
"Bit" ( read very) ignorant on this part of the market data.
Rgds Sft

Thank you Shall...posting financial info as I was typing...
Rgds Sft

Hello Oil, I can not remember what Chrysaor debts were prior to the "merger" with PMO, but as I remember why that merger came about was that PMO creditors led by ARCM were not allowing an extention to the terms of repayment and PMO could not source any other lines of payments, the deal with Chyrasor was to negotiate with the creditors away they could best get their investments back on terms they found acceptably.
TD /PMO BoD's had financial painted them selves in to a corner especially when a large part of their debts had fallen (been bought ARCM) into the other hands. As we can remember ARCM (and maybe others) were covering part of that debt with large and undisclosed shorts.
The option being put to us 5%ers was take what is being offered or face insolvency...not maybe that our (PI's) vote would have been sufficient as the ii's went the way we find ourselves.
So I do not think that HBR were going to be debt free.
There has been a lot of smoke and mirrors with finance and share allocations and its still not clear at all.
Again I go back to the unannounced ( well it was at the last minute only) share rerate, as an example of how much we or the city can yet trust the "Chryasor/ EIG) BoD.
If you add up the legacy assets /errors left by PMO Tolmount being a good example of poor contractor selection or build QA/QC
The other assets dropped or in limbo (Not HBR BoDs fault of course)
Add lack of RNS updates, lack of clear financial it (would like a good summary including the exit from Shell payments) could fit with current concerns
BUT
if the assets do have maintain correct production (been issues with PMO Catcher and Elgin/Franklin down longer than expected, due to third party pipeline maintenance, operating cost keep low, and a clear understanding of debt structing...its possible not too bad and I belive as has been said this could be a defence move against latest virus. If PoO hold then they iis may move back in, maybe????
The short option holders are not large, well if all declare their positions that is...(Short tracker)
Just my own musings.
Rgds Sft

I think the markets must be wanting to give SK his Christmas buy in price. Would not belive it possible.
(-;
Rgds Sft

This sell off does seem very over cooked: Tolmount reserves and delay is disappointment especially at current gas prices if you combine that and the abandonedment of SL (in particular) at a significant loss and significant change to HBR reserves, it looks very poor...but it is all a PMO inheritance.
Zama still unknown future that could go on and on, consider that also influences reserves.
Tuna looks good but is a way of.
Were the markets looking for a better dividend? And not getting it took to profit taking instead?
Added at 359, 352 and 336...took profits from some of my BP shares. I see growth coming back in to the sp and a divi. So it's a reasonable speculation imo.
But my level of investment makes /means nothing its what the buyer that too this to 430 that counts....but at PoO ranging from 70 to 75. HBR is making money, paying of debt, paying a dividend, plenty of cash tax credits for NS drilling and possible some spare cash for (Zama or Tuna) development or asset acquisition (old BP assets).
West of Shetland Gas (Totals) locations could also be worth a bid?
Rgds Sft

H, Seems you just visit for a dust up, and a long monologue....a Haiku Would be better I.e. less can be more.
Meanwhile the blood is on the trading floor and your ignoring it?
Each to their own, but Henry's complaining about a troublesome Monk.
Rgds Sft

Hi NoFear, this survey has to be the last push for creditors to exit. I just do not understand the price drop when compared to the parity of recorded buys/sells? Numbers do not stack up.
Unless there are, as you mused earlier, there is more to come post trading hours.
PMO creditors only made up 18%, still not sure how the 32% EIG (NOT EIG themselves) fit in this.
Still as before, good news for the 50k day traders. Any buy in at these prices must be good. But will be intresting to see if today and up to Friday (16:00)is the extent of the exit....and +16:00 is the big buy back.
All very interesting, still way above my understanding.
Plebleens any thoughts?
SK is laying there poised over the buy button...(-;
Rgds Sft
GLA

Well not a good day for us 5%er, except our day traders. Must tip my hat off to some of you that read it right. Looks like it's heading back to a nice buy in again.
Rgds Sft

Hey laidback, I think it (Reserves re-rate) must primarily be due to walking away from Sea Lion.
I belive it amounted to Group 2C Resources of 37%
UK / Norway is 43%
Mexico 11%
Vietnam 1%
Indonesia 8%
Rgds Sft

It's great being force fed your and Jeff "opinions"
Many thanks.
Rgds Sft

They need to give the markets something real....remember Chyrasor were never listed and only focused on ops and money/finance.
EIG will be advising....who in HBR is their stocks n share focal point?
Where's that appointment! all I see are ex Chryasor/EIG employees. Hard end oil and finance. But EIG pulling the strings with no front end "apparent" stock front. EIG corporate behind all of this. IMO.
Rgds Sft

Hi Y11, the 1:20 sticks in my throat big style primarily because it was not talked about or mentioned by the BoD's...hints at a dividend yes but not the re-rate. Why is a question I would still liked answered. All I can guess at is to reducing the amount of shares and is to do with share overhang and as EIG were the controlling force at the time their financial guys saw some process in it. From a recent communication to HBR EIG share of 36% are locked in untill March 22 (not sure about the other 32% that was EIG investors that also owned)
My belief is EIG will want to retain a controlling majority in HBR ( as Chryasor was their baby)....also not sure what the play was when HBR payed of the Shell connection recently.
Something g is afoot (in my ignorant opinion) and as 5% ers we do not count for much.
Still no RNS's on significant share changes....can EIG use a third party to acquire.
HBR are still not disclosing enough of their current financially imo....hopefully the 9th will provide a bit more info?????
The merger/post needs to be cleaned out as the new HBR status was a mess.
Will be intresting to see what Mrs Cook (ex EIG pay roll) has to say.
If there is some clarity and covid/Brent hold, positive on Tolmount, some return from SL, clarity on Tuna, (remember there is also Zama) ...sp is going up at a steady pace. They have a lot to say...Will they provide that clarity on the 9th...Big TBC.
Rgds Sft

Although if OM is not as hoped for either by out come, scale of award or time scales then that's another story. The BoD's can not of course hang there only hat on OM to keep the company financially solvent so, they have either had a plan B being worked on for several yrs I.e. in anticipation of PMO/HBR not delivering or its a mad scramble since HBR exited.
Wonder who PMO or RKH were in the dring seat for bring Navitas in.
My guess is PMO, as every time I asked (emailed ) similar question regarding project finance then Sam (emailed) it was a question that should be directed to PMO as they are the "operator". That was a constant theme, indicating they had handed over all responsibility. Although these types of questions can be fully directed towards Sam and he may provide some clarity?

Rgds Sft

Heading in the right direction. It "appears" though to have settled at a higher level of buys/sells.
In addition if, big if, there is further good news to be disclosed it could move forward.
Covid/oil jitters may be the main influencing factor remaining.
Creditor sales look to be coming to an end.
Lots of if, but and maybes in these comments I appreciate. The 9th will "hopefully" provide answers along with some decent financials information.

Lots of if, but and maybes in these comments I appreciate.

You still out SK?

Rgds Sft

Hi Tax, straight from the horses mouth: was that an email or a conversation?
So Sam is saying/ writing that RKH will be raising cash themselves to fund the project (in part or what ever Navitas can not) and as he is aware that there will be share dilution as a result. Wonder what it will be 20:1 or 50:1
Pity they do not go for a fund raise after the OM pay out, as this may give some a chance to exit.
So anyone in the real know, like any remaining ii's can slowly exit and those not in the know will be left high and dry.
So he will not be seeking loans for funding?
To be honest (imo) it is probably the only way this is ever going to happen.
Pity they did not try 10yrs ago.....but there was a reason then.
Rgds Sft