By Peter Brailey | Tuesday 29 June 2021
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Hurricane Energy (HUR) failed to obtain court sanction of its refinance scheme. When I wrote last week, I identified a likely core matter of timing as being critical to the outcome. The 30 page statement of reasons from the Judge had a theme running through it – is now the right time for an irreversible dramatic change to be imposed on shareholders? The answer was no. I see this as good for shareholders more widely but does not change my bulk order for beer and popcorn as I watch this particular situation play out to the death.
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