UK 06:04 Wednesday, 30 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Yesterday’s operational update from Hurricane Energy (HUR) was a mortal blow in my view. It really was bad news on several technical fronts. For shareholders I only have one question – what will kill the company? Technical matters or the Courts or the procedures of the Companies Act? For current shareholders this company is in its death throws, and it is worth examining what is happening over the next few weeks so the Ouzo can be chilled and the beer and popcorn readied.
Tom Winnifrith commented on the Hurricane Energy (HUR) court case outcome in bearcast on Friday on the salient points of Friday’s hearing into the proposed re-structuring. I had the case on the background as I ground out an urgent but lengthy report. When the case got interesting I switched screens and watched and properly listened. Here’s my comments and thought now I have time to write about this farce.
This looks like a Hail Mary pass from an investor that has spunked £25 million on three separate occasions and is now looking like a prize Charlie. It may win the battle but Crystal Amber will, like other mug punters, still lose all or nearly all of its cash at Hurricane Energy (HUR).
I wrote recently on the refinancing proposals for Hurricane Energy (HUR) and why I saw it as the endgame of current holders. I predicted the Bulletin Boards would be alive with negative commentary against the BOD. This has duly happened. One commentator has contacted the ShareProphets team with particularised points on why this may be a scam, and we are always happy to respond to considered reasonable requests for comment and assistance. I am happy to particularise why I do not consider Hurricane has been a scam.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2019, 2020 and thus far in 2021 (by net short position %, those in bold not on the list at the start of 2021) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2019, 2020 and thus far in 2021 (by net short position %, those in bold not on the list at the start of 2021) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
So now we know the end game for Hurricane Energy (HUR). It is a debt for equity deal leaving current shareholders with close to diddlysquat. Shareholders were warned by myself and Tom Winnifrith repeatedly but, as ever, we might have a combined 60 years experience of looking at oil companies, but they knew better...
Todays RNS from Hurricane Energy (HUR) provides further and better detail on the reserves and contingent resources for the company. The numbers are worse than I expected. With a further warning on potential shareholder wipe-out, the chance of a zero or effective zero just increases with each RNS.
Hurricane Energy (HUR) updated the market today. It is interesting for what the RNS says and as importantly what it does not say. The company has re-iterated the bondholders are now very much influencing operations and at best shareholders should expect some serious dilution. But how are things going operationally I wonder?
So says my good pal, the infamous bear raider Evil Knievil, and he is right. You and I look at a high flying stock where the valuation is insane but where if we go short the valuation can easily go to double insane before gravity kicks in. Especially in fevered times such as those we live in, kicking a man when he is standing strong is not such a smart move.
Hurricane Energy (HUR) updated the market today on operations and finance matters. All too much of the news was as Gary Newman and I predicted back in September. I did not see a debt for equity outcome as being the only or most likely potential outcome. The fact the update spelt out explicitly what would happen without such a deal, and new money being put in speaks volumes. It really is looking like a crash landing in tits up alley is the most likely outcome.
Gary Newman provided excellent commentary on Friday on the latest in the evolving demise of Hurricane Energy (HUR) from AIM O&G darling to AIM gambling fodder, while I was busy picking up my milk float and learning to drive like Ernie. Tom commented in Bearcast how he also saw a debt for equity deal looked like a probable outcome. I’m not sure I see the investment case even that favourably when I start to drill into the detail.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2019 and thus far in 2020 (by net short position %, those in bold not on the list at the start of 2020) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
Hurricane Energy (HUR) promised so much but it looks like it will end up joining the long list of failed companies in the natural resources sector following recent updates, including the interims today.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2019 and thus far in 2020 (by net short position %, those in bold not on the list at the start of 2020) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
