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What you expect.
This company is not the same prospect it was with all the hype and potential available.
We failed to produce commercial quantities bar Lancaster. Therefore we were always destined for a huge drop in price and sentiment.
The reality is... Even with ADUK and friends day in, day out blowing the HUR longhorn - nothing changes and it shouldn't.
The price is the price until POO drastically changes, global economy rises or sentiment/production/exploration changes but that still relies on POO.
Sheer global distress here and we are worrying about a mediocre oil company like it's gonna defy markets.
I want this company to do well. I think it can once we move past the above. This will take years likely though and I'm fine with that and so should you or you should reconsider.
'We failed to produce commercial quantities bar Lancaster.'
(eskibeatbeater)
Your comment can be added to the long list of unfounded statements about HUR made to date.
'This morning Hurricane Energy announced the flow test results from its Lincoln Crestal well, the second well of a three-well drilling campaign in the Greater Warwick Area (GWA). The well tested at a maximum stable flow rate of 9,800bopd using electrical submersible pumps (ESPs).
The positive flow test at Lincoln Crestal of 9,800bopd is in excess of our modelled rates for the single-well GWA tie-back, which gives us confidence in the well deliverability and commerciality.'
https://www.edisongroup.com/publication/lincoln-crestal-positive-flow-test/25043/
Long wait. Is it commercially viable today?
Is it helping boost our sp or producing more oil for us?
Until something changes, again, as above regarding economy, oil, disease etc this is us. We shouldn't be expecting things to change day to day.
You seem to think because I'm calling it as it is, I am against Hur. Far from it. I am very happy to be here just realise that nothing will be different next month until global issues change.
Nothing people say on here when it's up 5 or down 10 will change it.
eski - the GWA was disappointing. Personally I have written it off but I can understand those who still think it is a goer.
Lancaster has exceeded expectations and if the longetivity is proved up over the next 6 months and the macroeconomics improve then things should hopefully improve in terms of FFD. in which case it wont be a mediocre company. still a lot to play for in my opinion.
I do agree with you in that i dont think things will change - i would say for a few months. we will probably go even lower. the thing is you would not want to be out if the saudi/ russians back down or a vaccine for CV comes out. may take months but if/ when it does the SP is gonna rocket IMHO
'Long wait. Is it commercially viable today?
Is it helping boost our sp or producing more oil for us? '
There is a bureaucratic difficulty in developing that prospect, but you've moved the goalposts.
It is commercially feasible, but its development has so far been blocked.
As Double pointed out, there are almost certainly similar opportunities nearby, and the company has acquired valuable information from the LC success.
It's a success, not a failure!
I didn't say you're against HUR; I said your statement about LC not being commercially viable is unfounded.
Eski,
Just think 'Long' as oppossed to 'Short' term.
100% geared toward long term and on entry I had actually set 2022 as the minimum time frame to really excel what we have.
I view this lul and market depression as a great opportunity to position well. Things will rebound and we Hur are in a great position to take hold of that opportunity when it happens.
But for now.. I just try to accept what and where we are and see very little changing on a plus side for a long time.
Lancaster is beautiful - the success of testing to date only confirms that and will ensure good sentiment when the market starts to want to run again.
GWA maybe has potential to be commercial but in todays world it isn't viable to bring online.
Captain yes I think they rus/Saudi side of things will resolve soon. Surely in Saudis interest it has to
I hope so for our sake. You have two massive egos here who cannot lose face in front of their citizens. Like you I expect both parties want to resolve this, while hopefully (for them) still crippling the US. So somehow the climbdown, if there is one, must be achieved with pride intact. The only chink I can see is the 'relationship' between Trump and the KSA. If the latter could backdown 'for the sake of the world economy during this crisis after discussions (pressure from) with Trump' then maybe Putin could also have an excuse to relent. Putin will be happy if crude hangs around say $40 at which point the shale producers are still a squealin'