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HHR - Hartshead Resources

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Pura Vida Energy advises that it has today paid $2.4 million in full and final settlement of the debt facility which was used to partially fund the acquisition of the Nkembe Block, Offshore Gabon.

Pura Vida has a strong balance sheet with A$21.5 million in cash, no debt and is funded on forward activities including a free-carry of up to US$215 million for two deepwater wells in the Mazagan Permit, Offshore Morocco.
 
5 YEARS 6 months - no posting
Suddenly it arouses interest from punters over the last few days. Put some pocket money instead of buying lotto tickets - the probability of win or loss from Lotto and this stock probably same.

One thing I could not understand - why the company rejected some of the shareholders on the right issue. How could there be a shortfall on a share price issued much lower than the current price? If it was a shortfall, then how could the investors did not participate then but now enhancing the price.
Honestly, it is appearing to be a dodgy one.
But when the share market was less than dodgy ??
https://www.asx.com.au/asxpdf/20191009/pdf/4499wvlrkx91zl.pdf
 
On October 16th, 2019, Pure Vida Energy NL (PVD) changed its name and ASX code to Ansila Energy NL (ANA).
 
After a five month suspension ANA was reinstated to official quotation in early February this year after announcing that it has acquired the remaining 78.4% interest in Hartshead Resources Limited that it did not already own. The Company has issued a total of 1,000,000,000 new Ordinary shares to the vendors of Hartshead which are subject to voluntary and ASX escrow for 12 months as consideration for the transaction.

The Company has also completed a heavily over-subscribed placement of 320,000,000 ordinary shares at a price of 2.5c per share, raising a total of A$8 million (before costs). The funds raised will enable ANA to fund its work programme commitments of Phase I operations through to the preliminary field development plan submission and begin work on the initial stages of Phase II.

Looking at the chart, ANA appears to be forming a base of support at 2.1c. The share price has jumped up today to 2.6c, so it will be interesting to see what happens from here.

With the following work being progressed in the near term, there is a good chance that there will be plenty of news flow from the company in the next few months.



 
On May 27th, 2021, Ansila Energy NL (ANA) changed its name and ASX code to Hartshead Resources NL (HHR).
.
 
and now, with what can be termed an opportunity that only comes around a few times, HHR, with a market cap around $50 million, and which wants to develop gas projects in UK’s Southern Gas Basin, is going to the market,

Hartshead Resources is looking for $4 million, priced at 2.75¢ a share, an 11 per cent discount to the last close.

The company is developing four existing gas fields across five blocks at Production Seaward License P2607 in UK’s Southern Gas Basin. Its told investors it was targeting a resource base of about 0.8 trillion cubic feet.

Potential investors were told bulk of the funds were for the first of three phases in developing the projects. Phase I would target audited reserves of 301.5 billion cubic feet via the joint development of Anning and Sommerville fields. It said it expected first gas in late 2024.
 
looking to open higher as it is quite likely these sorts of add-on projects will be fast-tracked

HHR has entered into an agreement with Shell UK Exploration & Production Limited, to undertake an Engineering Study for tie-in of Hartshead’s Phase I gas field development to Shell’s infrastructure. The Study agreement will provide a basis of design and cost estimate for the tie-in of facilities through Shell’s infrastructure detailing the required brownfield modifications as part of the gas offtake route for the Anning and Somerville gas fields.

The study work will be undertaken by Petrofac and managed by Hartshead. Shell will provide project assurance, prior to entering the next phase of engineering work, which is the Front-end Engineering and Design, prior to final Field Development Plan submission to the UK government
 
and pulled in nearly three times as much. Looking to open at 3.3c

• Completion of an over-subscribed Placement to raise A$11 million (before costs) at a Placement price of A$0.0275 per share supported by a combination of Australian and UK institutional and family office investors.
• Placement proceeds will be applied to the Shell Engineering Study, Geotechnical Survey and to fast track the Front-End Engineering & Design (FEED) stage of the Phase I field development of the Anning and Somerville gas fields.
 
HHR on the move today, up 22.2% to 4.4c. Is the market finally seeing some value here now that natural gas prices have gone bonkers?

Company CEO Chris Lewis presented at the RIU Good Oil & Gas Energy Conference yesterday afternoon. He must have given one hell of a presentation.

With an established natural gas project in Europe, HHR have certainly gotten lucky with the right commodity in the right part of the world. Sentiment alone might take this higher in the short term.
 
Shite - was looking at this one (really) yesterday after someone I follow on twitter dropped the hint he was researching it @TwinTurboCelica. Read the thread here then got tired trying to inground value the 2P reserves. I came up with a preposterous figure in the trillions of dollars @US$8 MMBtu - not familar territory for me. They have some early stage agreement with a major.
 
New UK PM Liz Truss will reportedly follow through on her leadership pledge to ditch the ban on fracking to allow shale gas extraction in places where it is supported by local communities
 

Buy the rumour, sell the news?
 
InsvestoBoy said:
Buy the rumour, sell the news?
Click to expand...

Yes, most likely. In situations like this an over-exuberance tends to take hold that reality has a hard time keeping up with. The current situation with HHR appears to be a good example of that phenomenon.
 
Yeah so haven't watched a lot of this as there's close to zero chance I'll buy it, but at video 4.55 he sketches out what Phase 1 with a nat gas reserve of 300B cubic feet might be worth in revenue (apparently P2 Reserve is an estimate of recoverable and saleable gas?) He introduces yet another volume unit called a Therm which equals 100 cubic feet . He assumes a long range price of 1 British pd per Therm even though current price is apparently almost 3x this. So:
Phase one, 300Bcf gas = 3B Therms
1 Therm gets revenue of 1 pound
Phase one = 3 Billion British Pounds of anticipated revenue

One thing that turns me off is number of shares issued @ 2.238 billion fpo shares.
That's after recent placement of 383m shares @ 0.0275. They should come home to roost at some point.
Also for management:
6m pp shares
104m perf shares
20m options

 
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