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Prime
from memory i think the intention of a new CPR was for sometime next year.
https://www.petroleum-economist.com/articles/upstream/exploration-production/2020/analysts-fret-on-hurricane-s-single-well-reliancet
I believe there is still a wait the CPR (Competent person report)
if there were any issues they would need to be communicated by RNS - so yes it is safe to assume. Well 6 has been pumping for over a year now (minus time when it was shut for well 7 solo testing) and the water cut has not been an issue.
Even if it were to become an issue there is well 7 - we have two wells - yes it has an increase in water cut but nothing the AM cant handle. besides perched water should eventually drain out.
board have made their intention clear to get to 20k per day. with a number of options. also still waiting on OGA news for lincoln.
It’s pretty simple IMHO. Bid now at a silly price and take the risk that HUR are doing by proving up the geology or wait a few years till there are multiple wells happily pumping out over 10k per well....,and pay many many multiples of this sp.
In terms of what price may be entertained by the bod min 20p I would say.
littlened
Please yourself.
We don't know. Most likely we are, bcos I would expect an update if not. But has the WC increased, the BHP behaved? Have they been able to up the rate, or turn 7z back on?
Are we still confident in RT's perched water assertion, or not? etc, etc.
Fwiw I lean towards the positive, in that I think it more likely than not thaT rT WAS RIGHT, WATER IS PERCHED, AND THE WELL(S) WILL WORK. bUT WE DON'T KNOW, AND WE HAVE NO OTHER WELLS. (Sorry 4 CAPSlock)
is there any reason to doubt we are getting at least 12000bpd ?
as you well know, not in the same way as here.
The same applies to all oil companies.Ghengis Cant
It's only a ridiculously low level if the wells work.
Simples.
If RRE can go for £250m, then what would HUR go for in the current climate? The price has been kept at these ridiculously low levels for 3 months. Keeping the average low for a takeover???
Thoughts anyone?