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Hopefully! It’s funny watching PMO and TLW do +20% on Friday and today while we do +6% and +3.7% today :D
It lacked behind last Monday morning and went nuts in the afternoon. Good for closing above 1400 today!
This should be flying ????
Yes not good for them. AA will steer well clear of HUR. We don’t need to gamble and add any risky or problematic assets into the portfolio.
And Robert Trice departs, HUR now a rudderless ship...
Brent looking good boys!!! Should be a good Monday:)))
Would be awesome. Oil opened up just shy of $43 for Brent
Would be lovely mate, but either way hoping for a blue day!
7 am tomorrow ? Anyone else sensing a red dot?
Look I’m not here to discuss Hur merely to say they shouldn’t touch it. I’ve stated my reasons which are correct and drawn from RNS’s . I have researched Hur exhaustively and familiar with all the drills and mistakes made over the years.
I will simply leave you with this for your consideration.
Hur capital markets day April 27th
Production expectations for year 18000 bpd.
current individual well water cuts of approximately 46% in 205/21a-7Z and 7% in 205/21a-6 during April
May 22nd Well 7z shut in
Would you go so far as to say April the 27th statement is misleading?
No need to answer this I won’t discuss this again, if your long I hope you see some sort of return, sadly many long term investors haven’t. ATB
I'm in both. Each have their own investment potential but there's no way I can see RRE getting involved WOS. Gas is the way forward for AA's next acquisition.
I feel that HUR can't move forward at the moment. Spirit are a reluctant partner and are looking for the exit. HUR needs a new partner to inject cash to fund drilling campaign otherwise it is stuck in limbo. Ok it has some cash but not enough to realise ambitions, they will have to fundraise sometime or find another suitor. They also have the bonds (US$230m) due for repayment in 2022 so they have to be prudent with their cash. RRE should stay clear of HUR because it doesn't need to gamble, there are far more obvious certainties elsewhere in the North Sea / W.O.S. HUR's fractured basement is not a dodgy model, it has a lot of potential but it needs someone with deep pockets to really take it forward and in my view will succeed, it just needs a lot of money to fully explore and drill Lancaster, Warwick etc. Also the water cut is obviously an issue otherwise it wouldn't be increasing at quite an alarming rate "perched" or not. Anyway, apologies this is the RRE thread - RRE don't need to merge or buy anyone they are doing very nicely on their own thank you very much!!!
'Hur have huge issues at the moment, FB model looks dodgy, problems with well positions / also water cut, it’s been a disaster. Spirit have been burnt badly. It’s a car crash it won’t happen
(Craig8)
Total nonsense!
There are NO water cut issues with HUR.Whatever exists is manageable and is 'perched' not aquifer according to Dr.Trice who quite possibly has more information than you
The Centrica share price has risen a little recently. May be because RRE are interested in them? Or SQZ May be interested too.
Priced in brent definitely not RRE, but let’s see Monday, i will be happy if I’m wrong
Personally wouldn’t touch HUR with the water cut issues.
I think it will move to £15 by the end of the week. I see RRE as comparable to Serica who are trading close to pre covid levels. I fully expect RRE to do the same and continue heading back towards £20 soon.
Craig8. Brilliant short sharp summary of HUR.
Coldjoe. What’s priced it bud? If we were priced in then £17 is about right at the moment. Also we moved late Friday and emphasis is in oil stocks starting Monday morning 8am.
I think there’s a straight leg up to £1450-1500 here this coming week.
Agreed about HUR, very risky and I don’t think AA would go from stable production and debt free to problematic wells and take on HUR’s debt.
They are only 12months into production, already had to shut well 7z in. These wells were drilled to close together and share the same major fracture. Water cut was 6000 bpd.
Warwick was a dud. Halifax probably another dud (but they blamed drill fluids) Lincoln ok but only hold 50%.
If you believe that it will remain profitable with the bonds due and well issues then hold. Most will be in and out before next RNS drops, short term trade.
Risky as chuff, not a company you want to merge with
The FB isn't at all dodgy,they are profitable with just 1 well in production.If Lancaster works why not the rest of WOS,huge reserves ,over 600m,just what RRE would like to get their hands on.The share price is a disaster but not the company.They have £121m in cash,£480k per month oil sales from that 1 well,whats not to like at a market cap of £176 ?
Hur have huge issues at the moment, FB model looks dodgy, problems with well positions / also water cut, it’s been a disaster. Spirit have been burnt badly. It’s a car crash it won’t happen.
Littlend, No chance of HUR merger. Absolute none. For me it’s all eyes on spirit energy. As duster used to post ..... the acquisition is coming .... its coming .... after the tax break etc etc. I don’t think he was far off. Obviously the pandemic delayed everything but we are now in JUNE and I feel it’s very close. Centrica could even start formal bidding offers again because oil is not coming down anytime soon especially after last week. I’m fully expecting a breach of £14 on Monday and am looking very closely to what CNA are doing about spirit because my sense is AA is after those assets in particular. What’s happened to the EXXON fields ??? Also Neptune energy pulled out of buying Edison’s North Sea assets for $250m so there’s plenty out there ... I’ve just named a few. Exciting times ahead. Could we get the first merger / acquisition happen this month ? Amazing how sentiment changes from never .... to now. Lol.
I hold HUR too,who have cash and huge reserves,but not quite enough cash to develop on their own.A merger with RRE could be good for both parties with AA as CEO and Dr.T as technical guru