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I’d raised this before the farm in for 50 percent of the the less prolific Warwick Field is multiples of current mkt cap.
Just plain silly and what a surprise here we are back sub 6p
M&A will pick up although I think BP with the money from recent disposals to PMO may be interested here.
2 Years ago Spirit Energy, backed by Centrica (CNA.L) agreed to invest almost $400 million (£310.4 million) in exchange for 50 percent of Hurricane Energy’s (HUR.L) Greater Warwick Area (GWA) North Sea oil project.
What value does that place on Lancaster, which is producing along with the holdings at Lincoln and Warwick Licence?
This looks really good maverick d
genghis - i suspect they would have also included NPVs of Reserves at Base Price with 10% discount (1p and 2p come to £800m)
Maybe they keep Lancaster for petty cash ?
But what a lot of cash that is
As long as it’s going into hurricane coffers that’s ok with me and my truck
Anyone seen the next tanker yet , expect it to be early this month and get loaded to the gunnels
Or part of the sinking fund ?
Capt, I haven't checked, but I suspect Lanc is held on the Bs at sunk cost.
the thing is the spirit deal was considered not great at the time - in hindsight it was a good one with the poor results. Personally i wrote it off after the results - whilst in one way it will show confidence if spirit stay and proceed - i just hope it doesnt get distracting as i think well 8 or exploring halifax much better goals in my view.
the balance sheet gives an indication the value that hur give lancaster - ovbiously need to be oil price adjusted. Also dos not mean that a suitor would offer that. it is a shame that halifax is attributed with little value at the moment as this is the big one. it would have been so much better if they had explored this rather than GWA - but i suspect trice always wanted that one for himself - selling lincoln and lancaster to get there. however the poor results at gwa and water/interference issues at lancaster may have put that well and truly on the back burner.
the hope is that the data collated will reinforce ffd for lancaster and encourage halifax exploration
M&A will pick up although I think BP with the money from recent disposals to PMO may be interested here.
2 Years ago Spirit Energy, backed by Centrica (CNA.L) agreed to invest almost $400 million (£310.4 million) in exchange for 50 percent of Hurricane Energy’s (HUR.L) Greater Warwick Area (GWA) North Sea oil project.
What value does that place on Lancaster, which is producing along with the holdings at Lincoln and Warwick Licence?
Stu thanks for your feedback...need a CPR...update so all will be on the open.
Enquest aint far from here either
Serica, I already said, look where it is - they could make a ****ty offer here and walk away with this easily
A bad guess.
The price is low because there were suddenly lots of people willing to sell for a low price. This is a good thing that has happened (good for me). Actually maybe there weren’t so willing to sell but were just horribly over leveraged on CFD’s and spread bets and got forcefully parted from their cash and assets? Doesn’t matter now.
The HUR stock crash is in the past. So what’s left?
There are 1,500 to 2,000 producing wells across UK waters and right now the -6 well is the single most prolific oil well on the U.K. Continental Shelf.
It is the UK’s most prolific oil well by a large margin.
Yet some people are worried that it might not be commercial. I’m being serious!
It has been producing at these rates for over a year.
Still some people think it might not be a commercially viable well.
It is the UK’s most prolific well, even with the choke only half open.
I mean, come on. This is just too funny.
I honestly wonder, where do AIM oil investors come from? How do they always get everything so wrong? Why do they always behave as a dumb herd? Bit weird isn’t it.
This has been deramped by many experts. They may have been paid by a predator to lower the share price. Only a guess
Company you have got to be crazy not to table a sneaky offer at this level.
More and more I think the held sp is being lined up for one single reason