Member Info for winalot

Those last 2 trades were my buys, wouldn't let me have anymore after that so I'll try again tomorrow

I understand that but the market ain't what it used to be. Christ, I remember the share price spike with the Likonde drill, I could sold at something like 16/17p before it crashed.

Don't get me wrong, i'm still here after 12yrs and want this to succeed, for the shares in my ISA & the ones in my SIPP. I just released some funds the other day with the money sitting waiting to possible go in here (about 4 million shares worth)

what would justify the company being valued at say 5x todays price by year end just having reserves in the ground (and plans in place) and flowing what they can from NT-1.

I'm not expecting CH1 or NT2 to be tied in until spring next year. If they spud CH1 in Oct/ Nov we're talking 40/60 days drilling & testing (taking the estimate from previous drill times) then to move the rig to NT-2 for workover so it would be March before either one of those wells are brought online creating revenue?

A signed GSA, rig contract secured, positive 3D seismic results, license extension granted, and 1st gas Oct should se us at 2p I would of thought, realistically.

Also, at the same time. What about longer term, SP in 2yrs time. (I know we don't have crystal balls just hairy ones) just getting a conversation going around the matter

i'm curious to know what peoples short term expectations are of where the share price could be if ARA achieve just some of what was laid out in the last RNS by year end. So, 3D siesmics processed (positive outcome assumed), rig contract confirmed (inc CH1 spud in Oct/Nov), NT-1 test (positive outcome assumed), GSA signed.

Happy to listen to peoples opinion on both sides of the camp from those who are positive/ negative with constructive views.

I'm swithering whether to buy a few more (i've been here for 12yrs and thinking whether it is worth averaging down a bit, but its a difficult one having been here so long)

Average oil price for first 5 days of Feb is ~$81.6.
So providing an uplift of 530,000bbls, this month will give HUR gross ~$43M.

Can't remember the uplift costs a barrel but say $30 so should net around $27M. (£22.4M)

I know there isn't much else happening re HUR but this is being talked to death.

There will be no capital reduction or dividend or any payment until:
1. The court hearing has been heard (Confirmation required)
2. HUR announce that the court passed the resolution and how they plan to proceed.
3. HUR announce they they will offer a capital reduction in the form of a dividend.

All the broker emails in the world telling you that you're getting a wad of money today/tomorrow is horse sh&t. I got one in Nov/Dec and just ignored it.

People in this game surely must realise that the only credible way of being notified of a future dividend payment is by the company themselves (HUR) no one else! Until this is RNS'd just sit back and wait.

Remember, HUR have until the 6th to do something before CA step back in to play their next card.

AEX are not aim but certainly act like they are!

I've been here so long that I remember Shots Creek being their flagship asset!
How many of you remember that? Sigh......

Welcome to Hurricane!

My 375,000 buy is reported as a sell.

"Also, if you sold your shares before the XD date then you wouldn't get credited for any dividend, so how can they state "your account is expected to be credited with the cash proceeds" just now?"

I have shares but was talking about buying more. I did find the message a bit premature. Has anyone else had a similar message?

Thanks, I was just wondering because I just got a message on my broker account just now saying

"if approved (capital reduction) your account is expected to be credited with the cash proceeds on or around 1st Feb 23"

Hence me thinking if I bought more then they wouldn't be eligible.

If I were to buy additional shares in HUR would they be eligible for the capital return (if it goes ahead) or is it only shares held from when it was announced?

"hopefully it means a deal almost done and general meeting not required."

Or equally, not enough bites and prolonging it.

"CA would have to sell to avoid crossing the 30% threshold."

But would they have to sell or make an offer? If HUR bought 300,000 shares to cancel then they have put CA in that position, forcing their hand to act. There must be something in the rules to say a company can't act upon something which pushes a shareholder either sell or make an offer.

I don't even know how crossing the 30% threshold works. If HUR can cancel shares forcing CA to make an offer then don't CA just make an offer they know won't be accepted then they've played by the book and get to keep their shares?

Despite this, in my view, expected delay there are a lot of positives to take from this RNS. This will be a golden opportunity to top up this morning!

You could probably add onshore Technical Authorities for each discipline (mech, inst, elect) then there's maintenance Superintendent, Production, etc. I bet they've still got a geologist on the books! Almost forgot, health and safety advisor. So quite a few more but still not the full muppet show.

Even if the Ch1 target has slightly changed, surely it can still be reached from the current drill pad, directional drilling is wonderful technology. The drill bit can go anywhere you want it to these days. A new pad would only be required if the target changed dramatically. The decision will be down to cost for new drill pad and delay vs existing pad plus extra drilling. IMHO.

The below video link is worth a watch in its entirety but if you're struggling for time watch from 30mins for potential oil migration from offshore to onshore and eye-watering volumes. Albeit fag packet numbers, I'll take his expertise over a normal pi

Stumbled across this article. 44yrs of production including a little of the black stuff. Sounds good to me.

"Production from the Ntorya conventional gas development project is expected to begin in 2024 and is forecast to peak in 2026, to approximately 463 bpd of crude oil and condensate and 93 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2066."

https://www.offshore-technology.com/marketdata/ntorya-conventional-gas-field-tanzania/