We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Aduk: "..years ago I determined that... BB was populated by morons, because during the drilling campaign the thread - headers were mainly 'Smoke on the Water' and other Deep Purple references. "
"Smoke on the Water" is a song about a lake-side casino burning down. Perhaps this prejudiced your view? : )
Mr.B
Thanks for link … it was nice to be reminded that flow rate from AM will be 40k bopd once gas disposal has been sorted and GWA tie back from Lincoln or Warwick Deep is complete.
Free cash flow should be then way over $400 million per year (plus anything from sale of gas).
Mr B,
I stand humbly corrected.
Thanks Mr.B. Saved me digging it up.
GWA tie back will be Lincoln or Warwick Deep.
Looks like 57p just went. Onwards and upwards.
GLA.
adouble - 6 min 35 secs
https://www.malcysblog.com/2019/04/core-finance-ceo-interview-dr-robert-trice-of-hurricane-energy-2/
Biffa,
"HUR have stated that both Lincoln and Warwick Deep are options for the tie back to the Lancaster EPS."
Really? If so, it's escaped my notice. Also if so, I'm quite happy to eat humble pieon the matter.
Please provide a reference, though, to substantiate your statement.
Biffadog
Yes every now and again, a sharp pang of skepticism bites and has me seeing things from a different perspective which can be quite unnerving in all honesty. As said to Arbitrader, it's not the potential of Hurricane that's in question, it's more what's in it for the ordinary PI ... but again, you've all given me food for thought to go away and chew over:}
Thanks Arbitrader,
Perhaps it's because we're nearing the AGM, but I seem to be wearing my skeptics hat today. I don't doubt the resources or Hurricane's success in realising them, that's not in question. More, where are the investors coming from ... but you've given me some useful food for thought there, thanks.
Hi Arbitrader75,
You beat me to it.
In the extremely unlikely event (personally I just cannot see it) significant cash flow and proven up assets do not move the SP, then HUR become a massive TO target and that alone will move the SP.
I think sometimes you worry too much. Just let the plan unfold and enjoy the ride.
GLA.
Proven undeveloped reserves!
Albi1, the monetisation(or derisking) of assets, that are at this moment not represented in the share price, will lead to several billion pound coming in.
If you think that those amounts will not move the share price I don't think this is the one for you.
Besides that, not wanting to sell the company does not prevent another party still making an offer.
It only prevents a friendly takeout, not something big oil really cares about once the reserves are proven I should think.
PUD = Proven UnDeveloped
..you can always ask but HE heavily involved with E&A plus EWT! Think you are six months from any sensible answer. How long is your string? HUR doing very nicely with robust 6 months ahead. I look forward to your questions, after some informative information by HE has been presented. HUR SP more linked to oil price than external new ownership matters which may happen..
Foresight22: what is PUD ? Thanks
Sprucegoose, Wulbert and Arbitrader
So that's a question I'd be very interested in seeing put at the AGM.
Actually, where is the value to PIs in this investment. The value to day traders has been apparent and to large IIs day trading, but to a LtH? Logically I don't see Dr T selling Hurricane, they state their purpose is to make money to fund further explorations. Is the pot at the end of the rainbow dependent on momentum and a potential (not confirmed) special dividend rather than a takeover is kind of the question.
...only by turning Resources into Reserves. Moving WD 935 million BO Prospective Resources to 2C. Clarifying EPS is on track to add 100 million BO once OGA agree. Dr R-T has laid all this out... SP £3 this year looks dependent on higher oil prices. By AGM WD horizontal might not be fully flow tested. Hope they flow for at least 2-4 days with 4 day BU. Can then move some WD Resources to PUD.
Albi1, ,
Aye, that is something that has been nagging away at the back of my mind. When/what is "pay day" for us LTH's?
If HUR sells off a big chunk of it's assets (oil), to boldly go where no oil co. has gone before, we will be shareholders in a co. with tons of cash in the bank, embarking on a relatively high-risk new mission. So an AGM question for the good Dr T. or our chief finance officer might be:
"What potential milestones do you see resulting in a significant reward for current investors?" and "What are the board doing to make this happen?"
Albi; onewould assume a 'special divi' would be paid to sholderson sale of a Hur asset, (eg Lanfax), with some proportion of the realised moneys being held by Hur to fund ongoing works but - perhaps most importantly from Dr T's perspective - it's next exploration forays. This is where the conundrum between DrT's strategy and sholders (mine - and i suspect yours - anyway) may differ: I am not in the least bit interested in funding further oil exploration and am unlikely to do so [apropos recent bb discussion on the future of oil in an increasingly hydrocarbon-burning-but-sentiment-unfriendly 'green' world] other than Hur's current ops.
So yes, the path to optimal realisation of value is an interest.....
Arbitrader
Well, yes, exactly ... but without, as AS so unhappily mentioned recently the big II's, and with an asset sale rather than takeover, just what is going to drive this price up? No dividends and the potential for years of exploration back at ground zero ... I appreciate this sounds negative, but genuinely - what do we think is going to make the SP hit the dizzying heights of Morgan Stanley's forecast £3 plus?
@Albi1, personally I've always read Trice's comments on not becoming a long time producer as selling the assets, not the company.
He's having way too much fun to stop doing that.
Look here, an answer without a long winded story leading up to it.
Aduk,
HUR have stated that both Lincoln and Warwick Deep are options for the tie back to the Lancaster EPS.
The distance is pretty much the same and the decision will be made once the performance of the horizontal wells is known.
The laugh is on you and not Carloil on this occasion !
GLA.
Aduk
Without wishing to repeat the insult to your fellow BB'ers across the bandwidth, I feel to call them morons simply over a matter of musical taste is a little unjust. Some fine folk, actually many fine folk on there, some who understand finance a little and some who clearly have an oil / engineering background. There is a certain poster who has, of late, appeared but that's another story entirely.
So back to my original question, what happens when Hurricane says thanks BP, yes we'll sell you half our assets take the money and carry on exploring ... I mean - BP's price will rise, but we still hold Hurricane right, so off they go exploring again and the SP dips right back down? I'm genuinely trying to line things up here and what is often posited as a possibility doesn't really add up to me but then I may be a complete moron!:}
"Re. my previous post and before you say it Aduk, OK, not 'everyone' has been hopping over to the ii board."
Dammit, Albi (pls pardon my Greek), you read my mind!
Anyway, it's been ages since I've looked at ii. Before they changed format, befor Ricfle got in there, before anything like that.
Because a couple of years ago I determined that the II BB was populated by morons, because during the drilling campaign the thread - headers were mainly 'Smoke on the Water' and other Deep Purple references. Whereas my favorite track by that band has always been 'Lazy', mainly featuring the classically-trained keyboard impressario, the great John Lord. Whose style (both musically and personally) I admired.
Re. my previous post and before you say it Aduk, OK, not 'everyone' has been hopping over to the ii board.
Aduk
Actually one question I currently have ... since everyone's hopping over to the ii board lately, there's been a long held belief that at some point Hurricane will be bought out by most likely BP. Well, I’m not so sure anymore actually. We’re all banking on a takeover bid, but the alternative, the more I consider it, is for Hurricane to sell its Rona Ridge assets or part of it’s interest to fund further exploration. After all that’s what Dr Trice is all about … That might be another very good question to pose?