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EasyP - the 'bubble point' has nothing to do with production rates or water cut. Its about reservoir pressure. And that is declining meaning that the gas is closer to coming out of solution. That's the same for every oil well in the world. 6 just happens to be close to it according to company guidance.
Paying this money against the bonds is a good thing but it reduces your free cash to develop.
Alternatively not paying the bonds gives you free cash options to develop but leaves a large debt overhang and doubt about how you can service the debt long term.
This, I'm afraid, is the dance you are involved in. And the only reason you have't been handed your hat to leave the ballroom is down to the price of oil.
GLA.
... Can I give you a clue..... It's an oil company, they're out of fashion, and will struggle for investment... It has x1 well....
To drill / explore further will cost many $$$$ .... Future plans moving forward are an unknown; what will Xstal Amber will do, or anyone else, we simply don't know... Markets generally like stability and this is like a daytrip to the Circus... interestingly most of the clowns are recruited from this BB... ...
Brent 75.2300 0.21 -0.28%
" Is the market still worried about tech issues like the bubble point or water cut"
Of course it is, deluded to think otherwise. repaying debt at even a small discount to par is wise ; but the issue here is uncertainty over how long the well will deliver, and at what rate, into 2022. And then, even if bonds are repaid, how much capex will be needed to restore production by new wells/water injection etc, even if that's deemed feasible, and how will that be financed?
Oh, and then there's the flaring consent, the BW contract....so much uncertainty.
Volume is tiny,no indication of anything
It amuses me that on a morning when we publish a good RNS demonstrating that HUR is paying off debt and generating cash the sp dips in early trading. 9,000 bopd and debt free by Q2 2022 and yet no sp re rate? Is the market still worried about tech issues like the bubble point or water cut when production figures have been reassuringly steady for quite some time without any additional engineering expenditure?
Notice of Repurchase of Hurricane's U.S.$230,000,000 7.50 per cent. Convertible Bonds due 2022