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Took 60,000 after derisking 30% in aml today thanks Alexios for the notes. Should see 10p over the next two weeks
ADUK even, apologies.
Colonel Drake: UDUK has previously commented on 'interference', and it should be remembered that the 'perched water' mechanisms (bucket, inverted bucket) are in-play: this latter may well (sorry) have significant implications due to the differing vapour pressures of reservoir oil vs local perched water: it's no surprise there is some 'instability' in 7z flow, and it's also no surprise that, if pressure connectivity is 'excellent', that mass-flow connectivity also exists; i.e. it's not unreasonable to expect 6 to see some of 7z's water in addition to that of it's own 'perches' Think of the upside-down glass full of water then inverted and lifted out the sink (used to teach the kids with this)....eventually the vaccuum is not supported. The vapour pressures of oil differ somewhat, especially as the fluid density reduces, e.g. 38 api (6/7z) vs 'heavy' vs condensate vs LincolnC (42?api). Also, don't forget the viscosity of the two fluids is wildly different.....
but, wtfdik!
GLA, even you bartlebobton, but i think Goldenbadger has a more contructive comment: Dr Trice has one more shot; they'd better not screw it up. I'm amazed a 'hostile' hasn't come in yet.
We know the existing well is now flowing at 10300 bopd but is expected to have a maximum flow rate of 18000 bopd. Positive RNS soon!
Exactly ColonelDrake ... the intersection between theory, practice and the One Trick Pony.
Agreed Colonel the good Dr T has very little room for failure with his next move. This has become an issue of confidence . Maybe it always has been ....... confidence and Trust .
I meant 2022, when convertible bond is due
In 2020 oil price could be $60+ , at that time it won’t be any problem for hurricane to pay off or arrange something else ! It still has oil in the ground , Lancaster alone has over 550mbo, even if at $1 profit hurricane will be worth over $500m , the most conservative value , each $1 will give half billion
Yes, they achieved close to 15kbopd from just the 6 well for about a 2 month test period - and of course they could then decide to add in a little more 'top up' from the 7z well - it isn't that the 7z has gone away, we still have that as a good well (a little wetter than the 6) but still on its own the 7z has managed about 15kbopd - remember, we do still have 2 good producers, its just that the reservoir matrix of fractures between the wells is so good, there are instability interactions between the wells when both are producing together at high rates. And I think we have to remember just how good these flow rates are compared to those of many conventional reservoir wells.
If same value as cash is buy argument for you then go for RRE, valued at £130mil with £300mil in the bank, no debt
The Group's most significant long-term liabilities are the Convertible Bond in issue of $230 million with a coupon of 7.5% payable quarterly in arrears, which matures in July 2022, and committed lease liabilities in respect of the Aoka Mizu FPSO.
Yes, Hurricane has US$230mm in debt in the form of a convertible bond, however this is not repayable until 2022, giving the company plenty of time to refinance.
Huge buying going on, even at 10kbopd with the cash available this has to be a bargain at this level.
Agree MaverickD, it looks good.at 7p Mcap is the cash they hold so 7p should be the line in the sand
# Trades 1,366
Vol. Sold 16,501,767
Sold Value £1m
Vol. Bought 25,144,359
Bought Value £2m
This should bounce nicely this week - double digits following EIA tomorrow. There has been an overaction and production from the single producing well will be edged higher and rates of 15k-15500 could well be achieved. The markets will take this into account I feel.
Volume is 2 to 1 on the buy side......
LONDON (Bloomberg) 5/25/2020 -Global oil consumption hasn’t peaked, the head of the International Energy Agency warned, throwing cold water on hopes the coronavirus will cap demand and reduce climate-changing emissions.
“In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back to where it was, and beyond,” Fatih Birol said in an interview.
Fatih Birol, executive director of the International Energy Agency (IAE), gestures as he speaks during a Bloomberg Television interview on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 21, 2020. World leaders, influential executives, bankers and policy makers attend the 50th annual meeting of the World Economic Forum in Davos from Jan. 21 - 24....
https://www.worldoil.com/news/2020/5/25/iea-chief-says-low-oil-prices-will-take-demand-beyond-pre-crisis-highs
downbutnotout
Stop talking rubbish and trying to give the wrong advice, what are you doing here you never had a penny to invest anyway or in other words, you have been DOWN since starting posting here.
https://www.gannett-cdn.com/presto/2019/12/12/PMON/5769eab0-a84f-45cf-b1d0-1b50026611ff-20191212msgod-a.jpg?width=540&height=&fit=bounds&auto=webp
no doubt about that. I've scaled in just a while ago.
GL
With poo rising imho a steal at this price
Smart money moving in here.
Just buy some DBNO. You know you want to.
stochastic provides negative signals. thats the TA for oil price. bearish signals. be careful.
Read cliff face, with Hur specific bad news, global precarious situation and oil being relegated from black gold to Black Death, this is as bad as it gets from what is essentially a profitable company with great potential and massive reserves. All the bad news in, should be a decent and sustained rise to 25p from here, barring global catastrophe.