Fingers crossed for Tuesday or Wednesday.
Suddenly crossed my mind - would a delay for a main market listing be because they may need to raise money and push ahead themselves and around the end of next year would be the earliest opportunity if things go to plan but with no ‘interruption’ materialising?
If you see the message at 109 the guy says this"The balance sheet is solid and cash flows from Lancaster should mean they do not need to raise fresh equity again from the private markets"
Alistair Stobie stated at the AGM there are no plans to raise additional funds, HUR are suitably financed going forward barring a collapse in the oil price.
Just a thought of mine, with no evidence to support and could be a mile off reality. Is it possible that there is a delay for a main market listing, as HUR themselves know the reality of what they have on offer which just needs 100% proven. They themselves probably think they won’t be around in the timescales mooted here as they will be eaten up by a big player? Hopefully during a bidding war?
They stated at the agm that there are no plans to go to a main market listing this year, in fact we’re talking end of next year… if we’re still around.
They didn’t seem keen on it to be frank as they were questioned on it more than once so there may be an ulterior motive, but who really knows. (hint: the Bod.)
Just got a reminder that hoofhearted2 posted on LSE last week to say:
“I understand that a DST will be attempted on 26b-c, but not this week (22/6 onwards) “all issues have now been resolved and we are back on track”, looking good.”
Which, of course, ties in with Diego’s optimism … so some time this week maybe a flare?
I agree with Johnnie-FP, I would take that as a massive hint that there’s no point moving to a main market listing when they’re going to be taken out anyway … Just my interpretation though, read around the subject.
This is what we are waiting for.
Interesting Ash, bizarre soundtrack choices though.
Hello Albi 1 & Ash,
I agree there doesn’t appear to be any reason to move to the main market if we are about to be taken over in the foreseeable future. I recall that B P are on record that they are looking closely at Hurricane but won’t make a decision on a bid until the EPS on Lancaster has proved that naturally fractured basement reservoirs W of S have proved to be producing without any drop off in pressure or production. I can’t remember where I read it but I’m absolutely certain of B P’s future intentions re a bid for our company.
However, B P isn’t the only company that could make a bid for Hurricane. Any company to make a first move would have an advantage and could be accumulating a significant number of shares. There are lots of ways to keep a share holding at less than the declarable level of 3%. The way our share price appears to achieve an increase and then slide back could be a clue that someone, somewhere is stake building.
Three monetary factors convince me that Hurricane’s discoveries W of S in n f b r will be a tremendous success.
Kerogen brought a shed load of cash to Hurricane when the share price was at rock bottom and the poo was also at it’s lowest.
Sufficient cash was raised very quickly to bring the EPS on Lancaster into production.
The Spirit deal came unexpectedly under which, inter alia, Hurricane got a free carry on the GWA drills and also further advantageous deals to bring wells on the GWA into production.
It’s clear that the participants in the above deals had access to information that p i’s such as ourselves are not privy to.
Should an offer be made for Hurricane they could easily turn it down, simply because they are well placed cash wise and there is the steady income from Lancaster to look forward to.
B P are still my favourite oil company to make an offer but it wouldn’t surprise me in the slightest if a bid from another predator came in very soon.
The Warwick Deep well spudded on 17th April 2019 and to date we’ve had various rumours of how the drill is progressing but we’ve heard no news from either Hurricane or Spirit. So no news is good news.
The horizontal well being drilled is extremely challenging but Hurricane have drilled several such wells very successfully. The Transocean Leader is still on site so if the well had been a duster I’m sure the T L would have moved on and started the second drill.
The W D well is being drilled as a producer which confirms my confidence that we will get a positive result.
I would assume the Drill Stem Test is about to begin shortly and I would expect an early RNS to confirm this.
Oil over $66 now
Some of what you say I would guess is quite close to the mark with regards to the HUR SP. It is a no brainer that a certain Big Player will no doubt walk away with the spoils and maybe pushed to the 70 - 80p mark for the lot if a bidding competition arises for HUR but again I do not believe there will be any doubt they will win in their own back yard. The year of production from Lancaster is a smoke screen to as the Big Player almost certainly knows what they will be buying within a few months of production by way of a serious of mini well test and PBU’s etc to give them confidence in reservoir performance and future capabilities. Again, a bid by a Big Player sooner than later after production start up and evaluation. LTH’s of HUR should be happy with 70 - 80p if and when it comes.
The recent poster (Armageddon) who was runout of town in this BB had a quite a few valid points and only time will tell how accurate he was. The rampers, google experts and “please give me a little tick up” merchants on here know who they are. Sometimes you get a better laugh on this BB than some of the shows on the TV.
All of the above in my own opinion, good luck to all investors.
That of course assumes that Dr T and his board recommend the offer, but now we have Lancaster producing and so now have the means to bootstrap all our fields into production, is 70-80p an attractive price?
The directors of HUR will be seen as industrial heroes for revolutionising the UK’s oil potential, but there is still some way to go before that will become apparent.
Why sell now and miss out on a
Getting noticed all over the place now.
Certainly not me, and I’m a long term holder.
Hardly run out of town, suspended or banned for being an annoying twonk would be my view. Regarding his “valid” points… don’t massage the ego of an idiot who’s pleasure was to annoy others.
“suspended or banned for being an annoying twonk”
‘twonk’ great word and in this case very apt.
While smaller oilies to tend to be snapped up below a fair price, I think your 70-80p forecast IF THERE IS A BIDDING WAR is frankly ridiculous. We were at 64p just on first oil FFS! There is a lot more to come from HUR and we are nowhere near fair value. I suspect you have a deramping agenda, and that is your right, but we’ll see in time. I myself doubt we will get to the likes of £5 before a takeover, but in a bidding war, surely nobody is going to get away with grand theft like 70-80p? All IMHO
Yes, there is a lot more to come if you define 6 - 16p a “lot more” on top of yer excitable 64p seen at first oil. You maybe need to get a grip on reality with regards to your SP projection/thoughts on where this share is going and as an example you stated SP 64p on first oil and where are we now! HUR is an excellent small company in a big sea of sharks and it will not matter how good any forthcoming news is the outcome will be the same, price shoots up, the gullible dive in and SP dives “happy days” for the day traders who are making a mint out of this share and by the way I am not a day trader. As far as an agenda, yes I do have one and that is to make money using a serious amount of reality and most importantly not to be to greedy and be satisfied with a very healthy profit from an initial investment and not fantasy expectations. When I see posts like yours I do wonder when the person writing it has joined the party that is HUR and possibly have a ramping agenda of their own. But in any case I will just sit back and enjoy any and all comments that may come back here. Go on brighten up my day and give me a good laugh. And don’t expect any further replies.
All above IMHO and as usual good luck to all investors