Hurricane Energy (HUR) updated the market on Friday the 13th on operational matters. The market reacted positively to the update, also many share prices reacted positively to the election outcome. I am far from positive on the detail the company provided.
Hurricane Energy (HUR) is a company that I have been bullish on ever since first covering it as a buy back in June 2014, but things haven’t worked out particularly well for anyone who has been invested since that time. This is rather unfortunate, as from an operational point of view it has performed amazingly well, better than anyone could really have hoped for, and is an example of how an AIM oil explorer can sometimes succeed and take a large discovery all the way through to production. Unfortunately for longer term holders though, that has proved costly in terms of dilution to enable to company to retain 100% of its Lancaster field...
All of the focus has been on Hurricane Energy’s (HUR) Lancaster licence, and although its other assets looked very good I wasn’t expecting further progress quite so quickly.
When it comes to anything on the operational front amongst smaller companies in the oil sector you tend to pretty much expect some delays and the directors are often over optimistic when it comes to timelines for delivering certain milestones.
My father is being charmed and buttered up by the quacks at Warwick Hospital and I am off there shortly for a pre operation chat. Ahead of that I look at Tesco (TSCO) and its fines today - we really have got white collar crime all wrong in this country. Then I look at Genel (GENL), Tasty (TAST) which is really not very tasty at all, Advanced Oncotherapy (AVO) which is is utterly inedible and Sound Energy (SOU) where the issue is valuation. Surely the good news is in the price already?
Next week may be disrupted by events in Warwick as I discuss at the end of this podcast but I shall be at UK Investor Show come what may and really hope you join me and 3,000 others there - book now for tickets to be sent on Monday HERE. In this podcast I look at Management Resource Solutions (MRS), why its RNS statements just do not add up at all and why I hope for bankruptcy. I also look at the latest news from FastForward (FFWD) which - if you do a bit of digging is a 100% rum and coke. Finally five years after certain folks turned down cash offers for Rivington assets preferring to asset strip them I bring you photos of a Master Investor show hall promising 5,000 attendees but in fact almost empty. Photo one shows c500 folks in the main hall, the stands at the same time are almost empty! Ouzo time for me, a cup of cold sick for the asset strippers. It is hard to resist the temptation to gloat and indeed I found it just too hard. It is ouzo O'clock.