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11:05 Then selling water to african countries ..you can use same AM for this.
bransonbull
You wrote :-
"If well6 remains prolific long enough we will be OK"
The RNS in september quoted
"Considering oil produced to end August 2020, remaining 2P reserves at 1 September 2020 are estimated at 9.4 MMbbls (subject to economic limit test)."
So at 14000 bpd thats just over 5 million per year meaning the tank will be empty in less than 2 years. What then ?
Ohmarco. Leaving aside woeful illiteracy, your post doesn't make sense. Hur has debt through the CBs. It has cash and it is earning revenue and generating FCF, not.much like rest of the industry but I'm expecting higher POO in 2021 22 etc.
So the issue is not the debt but production and WC. If well6 remains prolific long enough we will be OK, if Spirit and HUR tie back Lincoln we will be OK, if WC increases very rapidly we will be screwed. It is a binary bet that could go either way.....
Mary - good post
HUR currently have the following assets:
p1368 central (lancaster)
p2308 halifax
p2294 warwick /lincoln
p1368 lincoln south
maltrees - Not addressed to me but my understanding is as far as I know licence P2308 Halifax has not been relinquished. Excluding central Lancaster the other acreage on Lancaster has been relinquished. Certainly not a definitive source but O.G.A has P2308 (Halifax) as Hurricane as licence holder. I can find no relinquished reports. Extracts below from the Interims and technical Review.
Greater Lancaster Area
It is Hurricane’s view that Lancaster and Halifax have the potential to be part of a single, large accumulation, the Greater Lancaster Area (GLA). Hurricane owns 100% of the licences covering this accumulation, P1368 Central and P2308.
Halifax
P2308
Blocks: 205/22b, 205/23 and 205/24 Halifax
To date, the Technical Review has not incorporated an updated assessment of Halifax. However, the conclusion of the Technical Review is likely to lead to a significant downgrade of the 2C resources attributed to Halifax in the 2017 WoS CPR.
“In light of the revised interpretation of the OWC, the area of the P1368 Central licence outside the determined Lancaster field area is being voluntarily relinquished and, following relinquishment, the Company will be released of its obligation to drill the Lancaster commitment well.”
GLA.
Aduk
When are you saying HUR relinquished P2308 Halifax?
time to scrap this company.. having cash£100 (but £-230 debt)gives just nothing but pain. and 1 well its like kindergarden
Ohhh no, just more from the fantasist adoublechincowboybootarmchairoilmantooilman ....
Now who said...
- WW + WD weren't really "Plug abandoned "
- The whisper that WW , or was it WD....would be a success...
- HUR have "unique and ground-breaking computer modelling of the reservoir"
- OGA ....in bed with BP to squeeze HUR... blah blah blah....
Drone the Drain.....
halfpenny,
"Roll up Roll up anybody wanting to take a punt on a basement play?"
That's no longer really the point. It's more a case of wanting to take a punt on HUR, now devoid of its creator and erstwhile CEO. There is a new (and very quiet) BoD who have decided to divest the company of the License N. of Lancaster, up to and including Halifax. That's a huge amount of acreage, and retaining the licence would have cost a drop in the ocean to maintain. No doubt CWR (Warwick / Lincoln) have been retained simply because of Spirit's involvement. A couple of years ago Shell and BP took most of the licences surrounding Hurricane's patch.
It doesn't take a genius to figure out the strategy.
Surely has to be taken over soon.
Roll up Roll up anybody wanting to take a punt on a basement play?