Member Info for Urraca

Ok, 60p by 3pm. Is that better?

Think Daltry is right

Some frantic algo trading in the last minute or so too

I'm holding. Not buying any more, but that's because my PF is already a bit overweight on HUR. Nothing to do with my chat with Phil, but we've seen this sort of situation with TLW, PMO, even GENL to an extent, where the market prices in the end of the world. If they can sort themselves out - and keep producing a decent amount - eventually it will rerate, in which case potential gains could be pretty big.

I did speak to Phil. However, before he would talk he asked me to commit not to relay it into a chat room. The reason was that between my summing up, and some microscopic interpretation, what he said may come to be portrayed as something else entirely. So, I gave my word that I wouldn't, and I'm going to stick to that.
I will say that it was interesting, and that Phil is pretty new into the job, and is making himself available to anyone who would like to discuss the situation. So all you need to do find out what was said is get in touch with him.

What ever you discuss, the details will be confidential,"

Nonsense. If you think for an instant any non public info will be shared by IR , well...........

Yes Ghengis I totally agree, and said that right at the start. However, if more people get in touch, it might persuade the Board to do some shareholder engagement. Many other Boards hold conference calls and engage with their shareholders, so I see it as a legitimate part of the job. The new team have been there for some six weeks now. I don't expect them to have formulated their policy in fine grain detail, but they should have an idea of the path ahead now.

Jax, if you mean me, I was joking in response to keepwell's post. You get that, right?

Thanks keepwell. If he discloses any price sensitive info I'll be sure to keep that under my hat. I'll share the rest though.

I sent Phil the following message:

I don't want to put you on the spot, so my questions are:
1. Do you have any plans to increase comms with the market and your shareholder base. For example a Proactive Investors interview, or conference call, with the new Board. This would be welcomed by many investors.
2. Are you going to update the market very soon with your conclusions from the ESP test, particularly production expectations, guidance on production this year, and water cut reasons and expectations? It would be disappointing if you were not envisioning doing this until Sept.
3. It would be reassuring if the Board could buy shares to demonstrate belief in the Company. Are they in a closed period and unable to do so?
4. If the Board do decide to engage in an outreach event, can the slides include some specific technical details regarding the Lancaster wells, such as possible causes forthe interference, remediation options, and details about how the ESPs are deployed.

I'm hoping to speak to him at midday. I'll let you know how it goes.

I did email the company yesterday as I said. I've had an email back from Phil Corbett, head of investor relations, who has offered to call me today to discuss questions and concerns. There are some far more knowledgeable HUR investors than me on this Board, so any suggestions? I'll take the top three. Obviously Phil won't be giving any price sensitive info.

I have to say, I often approach companies I'm invested in, and I do get a response, most of the time, but this has been very quick.

Steady on Dr K. The ESP tests might not finish until today. It's not unreasonable to give them a bit of time to digest the data.
Over 1% of the company was bought yesterday. And buying has been pretty healthy for the last few weeks. At some point that has to have an impact on the sp. Maybe today? Brent is still holding its strong trend.

In the last half hour there have been 5 trades for 100k shares, and one for 250k. Each time the spread moves to 5.4 - 5.425, and scores as a sell. The spread immediately reverts to 5.36-5.425, which would have scored it as a buy. Naughty MMs trying to conceal the buying.

HUR is rock bottom ohmarko. Forex is always moving. Look at the oil price. It's tripled since it hit bottom at $15 (When HUR was over 8p).

It's up over 20%. After a great rise yesterday. Let's be honest, earlier today it bagged from the lows of just last week.

Keepwell, the RNS said "The Company plans to continue testing both wells on ESPs for a short period of up to two weeks before finalising its near-term production strategy. ". So up to tomorrow, max.

This has exceeded my expectations this morning. And they were great.

Nm

Yes, hilarious. Someone should get canned for that decision, lol.

Over 8.5% of the company traded today. That is immense. Hopefully it will have flushed out most if not all short term traders who took advantage of the recent sp weakness, as well as churning through the rest of the placing, insofar as that's going to be traded. Definitely a strong finish, Hopefully a strong open tomorrow to get us firmly back into the 50s.

Yes, I was wrong, badly wrong. Do I feel bad about that? Not a bit. :-)