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" I've read they have between 12 and 6 million barrels in one oil field and possibly a lot more if they drilled."
That's the problem (one of them, anyway). No one knows what to believe with regards to how much oil they have.
" If the oil price stays above $80, then the debt will be paid on time."
If the oil price stays above $65 the debt will still be paid on time. The current oil price means it can be paid off quicker and also puts some money in the coffers. All as long as well 6 keeps producing 8500 barrels + a day
Hello, I'm new here and trying to find out how many assets HUR has got. I've read they have between 12 and 6 million barrels in one oil field and possibly a lot more if they drilled. If the oil price stays above $80, then the debt will be paid on time.
I agree Senseman, the advantage we have is these sort of deal would have to go though the chairman and I would’nt be surprised if he was dealing with it directly with CA …
reason deal hasnt been sorted with Bluewater is that Maris and Chaffe know as soon as announced will look even more stupid and criminal. so will be burying the process in minor detail and irrelevance and possibly even be seeking to derail a deal. reality being that it back of a fag packet deal capable of being sorted out face to face in an afternoon over a pot of coffee by 2 companies mutually dependent upon each other. delay will be down to maris and chaffe, not BW
"the company has to work out how to hang onto the Aoka Mizu floating production storage and offloading (FPSO) ship beyond June "
Shouldn't be a problem in the short term - Bluewater know they'll lose cash flow if they take it back then. The only danger is that, with higher oil prices, some other company makes an offer of a long term - say +5 year contract for the AM - to use elsewhere. Not sure how busy the pipeline is for new FPSO's I'd have thought it was pretty quiet given the low prices over the last 5 years.
I would ignore anything that the Chronic Investor writes. They are, IMHO, just as worthless as T1ps, Motley Fool, Twit Minnifroth and all other tip sheets etc. ( allegedly)
It's the old adage . Those that can do. Those that can't, teach.
Dill
Yes, but what does the article say?
If this article is saying the FPSO extension is under question then I believe this is a lie and should be challenged by email to the author at the IC that at times can get things teribly wrong
IC “ It’s not all rainbows, according to chief executive Antony Maris. “The challenge of funding investment in our assets remains,” he said. With oil at over $80 a barrel (bbl) and likely to stay at higher levels than last year into 2022, that problem may be solved as well. However, the company has to work out how to hang onto the Aoka Mizu floating production storage and offloading (FPSO) ship beyond June and the regulator wants more decommissioning liabilities, which seems justifiable given the company’s shakiness this year.
Production in the first half was an average of 11,000 barrels of oil per day (bopd), down on the first half of last year, but the average barrel sold for twice as much as it did in 2020, at $62.20/bbl. Costs also climbed over a third, to $25/bbl, but the higher price more than covered this.
Consensus forecasts compiled by FactSet see full-year free cash flow at $56m, compared with an outflow of $7.5m last year.
Things are looking up for Hurricane, but if the board cannot invest in maintaining production or hand out a dividend there are better options in the sector. Sell. ”
Same author of IC advised in June 2021 to sell HUR ( sp was 1.2p)!
He is doing the same again today when HUR situation is so much better and safer ( current sp 4.65p).
Conclusion..if you had dismissed his advice of June 2021 as many here did including myself..we quadrupled our money! So for me his current advice to sell is quite encouraging to expect the sp hopefully to quadruple again….
GL
'HURRICANE ENERGY SAVED'
https://www.investorschronicle.co.uk/news/2021/10/15/hurricane-energy-saved-by-energy-prices/
What are these 'still hurdles ahead' the IC make reference to?
Can anyone get access to this?