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They're certainly going to extra mile. Not sure scaring the small PIs who read this board into selling is going to have much impact on the sp one way or the other, given the huge volumes we've been seeing.

3.2% of the company's shares sold short according to fca (okay, a few days out of date). Probably other shorts under the threshold, or don't need to be declared. With CA hoovering up shares like this, they've got to be thinking about closing those shorts asap.

Quite hilarious, watching posters on here portraying CA massively increasing their holding as bad news. If HUR announce they've bought up half the bonds on the secondary market, and extinguished that debt for £25m, the same posters will be screaming that they haven't left themselves enough money to drill the water injectors, so we're doomed. And if they announce they're going to tie in Lincoln and start producing from it too, I don't know, maybe that will cause the FPSO to be overwhelmed and sink? Lol.

$230m. So £180m at exchange rate 1:1.28. Going at 28% of par on the secondary market, just over £50m. How much cash have Hur got in the bank? Remind me again.

If, as CA suggest, HUR uses some of its cash to buy, say, 50% of the bonds at 28% of face value, what would that do for the share price?

Well that colossal sell does look suspiciously close to Dr Trice's previous holding. It seems strange that he'd sell now, with the price absolutely hammered down. But the MMs must have known there was a sell that size being worked. The sp kept up to 3p, then retreating. Now its over and done with, I'm hoping for a strong week ahead.

I guess if he's out of a job, with no prospect of getting another one, he'll need some readies to pay the mortgage. Can't he get a job where-ever James Parson went?

Because the market has now absorbed this sell Gasman, and if you look at the daily chart, there is undeniable upward pressure.

The thing is, adouble, now the 2c reserves have been cut by around 90%, they only need to increase by 10% of the original estimate to double from where they are now. They cut them back so drastically (on an unaudited basis) that there must be some scope to bump them back up again. A bit of a cheap trick I know, but that's life.

Mr Amir, the £115k trade was the close of play UT - not a sell. The £180k trade was probably a buy that's been worked through the day. And it looks like the price was held to fill it.

Sorry, end Dec, not end Sept

Ngms, the company guidance was production of 12-14,000 bopd between now and end Sept. Do you honestly believe that they're going to revise that pretty sharply down to 10,000 in the near future? It would utterly destroy their credibility. Given their clear attempt to kitchen sink all the bad news and 'close off the downside' in my opinion if they thought there was even a remote chance that production might be only 10k by Xmas, their guidance would have reflected that. If we're going to be surprised, it will be modestly on the upside. Imo.

Sorry Bransonbull, I don't understand that. Please could you explain?

Good one lonestag. No investment case. They've just added over 2% of the Company. No investment case? Lol.

You know, there is a world where the new Board played this quite cleverly. They must have pre briefed Crystal Amber - they are a big shareholder after all. So they were primed to buy more on weakness, and clearly think there's an investment case. Then there's the Hannan & Partners note which issued yesterday. Very quick. Maybe HUR opened the books to them over the weekend, and had them set up to issue a note. Knowing they were already undervalued, and anticipating the carnage, they could have happily let H&P draw their own conclusions.

SP was over 3p most of Friday when CA were buying. Who do you reckon is the best informed? CA? Or random doom mongers trying to talk their shorts on the LSE BB?

That's an extra 2% of the company they bought. Gonna make it harder for rhe shorters to close in an orderly fashion.

Is this around the same volume as yesterday already? Does smell like shorters trying to close in an orderly fashion. Any whiff of reasonable news (and I think all the bad news is out and then some) and this will double. At least.

Yes that's good. Bout time. Helps offset the interims, which are a bit rubbish. Let's get some sales orders booked. Big sales orders.

Assuming the 6million odd shares that show up in total volume but not buys and sells (so will be a late report) are all sells, the bet sells on Friday are still less than 1% of the Company's issued equity. But almost 20% were traded (10% roughly if both sides of the transaction were counted). So there is very strong appetite for the shares around the 3p level.

I appreciate a lot if people have lost a lot of money, and there's lots of despair. There are also clearly some small time shorters who went short on Friday and are working hard to sow doubt and despair. It's going to be a very interesting day and week ahead. My personal view, worth nothing I know, is that the new CEO absolutely kitchen sinked it so he can appear to do a grand job of recovery. If the big shareholders are going to stick around, that will be a clear sign that a (modest) recovery is on the cards. It's never going back to 50p or anywhere near though.