Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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awk - i have seen reference to people being paid as pro rampers/derampers on these boards before . Always seemed a bit far fetched to me - but what do I know? i certainly think there are herds - maybe in the twitter groups etc - who focus on shares when ready to move. and then move on to the next share etc.
having been a long term sufferer in hur - i am not going to complain about a bit of ramping - makes a change to those who have been continually trying to hit the sp for a long time now. Any potential new investors need to do their research and weigh up their own risk v reward. i am long and i am trading . i think i can make money from both on HUR
i am sure when hur gets to trading in a stable range the excitement will go.
This should be rerated as time has come to consider that $ 41.5 POB is reflecting we expect positive agreement at OPEC meeting over the weekend.. The market rerated the midsize oilers during the last 8 weeks.
TlW from 7p in March to 30p today
PMO from 10p in March to 39 p today
HUR 6p .........9p....a lot of mileage to cover
??
Let's hope that opec meeting goes well.
I think its just a lot of idle hands at home with sfa to do and a few quid to gamble and so come out to play mischief!
Derampers, rampers, dreamers etc. don’t shift the SP. It’s a myth. Get real!
aduk,
I think there is mix.
Some honest folk that have been keeping an eye for a while and just jumped on the bandwagon when the share starts to move, then thinking 'why not put a cheeky wee ramp on the BB to help it along'.
And quite possibly a few others, whom under different guises will have been deramping and spreading their sinister conspiracies and lies since the point that they drove the price down to 15p - only to get caught out by the CV19!
Mr Zarniwoop,
How's the publishing going? You don't have any 'fake universes' going spare at the moment, do you? I sometimes feel I could do with one, just for a holiday, or something like that. 'Cos the current one I find somewhat confusing.
"AK, as a LTH, I too find the sudden influx of posts from blatant rampers / derampers frustrating."
Between doing important things (cutting a three-month growth of grass at a little place I haven't been able to visit due to 'lockdown', and while the strimmer battery has been recharging), I've been looking in on this BB. And although earlier on (during breakfast) I found it annoying, or 'frustrating' as you've put it, I now find it all rather curious.
Where have all these 'newbies' suddenly appeared from? Most of whom don't seem to have a clue about the company background or history; What has suddenly put Hurricane 'on the map' ? Why all the sudden interest?
OK, call me hopelessly paranoid if you want, but there's something smelling rather rat-like to me. I remember once visiting the offices of a big company in the City. I was there to meet a particular person, who first took me to lunch, and then talked afterwards more formally in his own, private office. But to get to his cubby-hole, we traversed a big open-plan 'office-space' with maybe sixty people or so sitting side-by side staring at computer screens, and sometimes talking into their headsets. A completely alien environment for me, seeing that some people actually 'work' like that.
OK, the company wasn't a financial house. An oilfield consultancy agent's place instead, but which operates worldwide.
But what if it were a stockmarket trader's office? Maybe the boss comes in one morning, and has posted an email instruction to those people at their screens to individually log in to LSE's HUR BB, and post some quick one-liner 'ramping' the share. Using corny old phrases like 'fill yer boots' and 'wouldn't want to be out over the weekend', such as we've seen today.
I'm not saying that's what we're seeing, but I don't think it's impossible, either.
Me, I usually just trust my instincts, so just holding, having done a couple of top-ups when the thing plummeted down. Damned if I'm going to sell those top-ups now for a 15% profit (though the temptation is there), because that just puts more 'available' shares back on the market.
AK, as a LTH, I too find the sudden influx of posts from blatant rampers / derampers frustrating. Your observations and anecdotes are a welcome oasis in a sea of spam. Keep up the good work.
TRADERS are trash idiot you are
AK; just read-through your and cocopops discussion; v interesting and your 23:38 yesterday eve questions are a very astute and pertinent trio that would be nice to see formally answered by the company. To my mind Hur have been consistently poor in comms quality, and this has damaged their credibility, with some reflection in mcap/sp and short volume. I'm not an oiler but can now often 'sense' less-than ideal systems - and since ropegate have had a lot of that here. However, I think the evidence thus far is that Dr Trice is very largely correct in proving his wos fb reservoir concept, and provided the co'y can endure the current crop of downturns, will be worth a tidy sum. Appreciate your tech insight, shame about the current crop of choo-choo trader-trash we're seeing.......
gla
Cocopops,
"They're better-built, now!"
Probably, but my experience is last 5 years. And not so well built. In fact, multiple, expensive failures.
Again, possibly different ESPs and possibly a much different environment.
One issue is that these pumps would have been specified and sized before the well flowing conditions were 'known'."
Ah ! Now I'm beginning to enjoy this ! Because you obviously DO know what you're on about ! But let's not mention what colour coveralls you wear, because you don't want to get into trouble.
Agree. Though it's now six years since I've been 'in the field'.
But let's go back 8 years. And not specifically ESP's. It could equally (and more pertinantly) apply to 'directional' equipment, particularly rotary-steerable. There was a massive demand. So QA went out of the window. And we poor mothers in the field were going haywire (or rather not me, as Co-Man, but instead the Blue Army) when they got defective equipment.
However, ESP's are more 'permanent' stuff.
I don't think this should be pursued too much further without proper information.
The ESP's (we must assume) were properly installed during recompletion, and if not 'function-tested' (though I thought there was a way to do that) at the time, surely 'circuit-tested' at a later point. Plus the enetire 'Y-bypass' system.
This is a nasty thought. But one which HAS to be voiced.
Are the wells only being run on 'natural flow' (or rather now one well) because there is a PROBLEM getting the ESP's online?
Right. It might hurt the SP, and my own bank-balance, but a question worth asking.
Modestus,
More. Just as an anecdote.
Your message (repeated).
"Hello adoubleuk, i do hope you are willing to share your views with the company itself too. It would be a shame you only take time and effort to write your well founded views on a BB too full of punters when perhaps you could find an open ear at HUR. Sorry if this sounds naive. Thank you once more for your time and efforts!3
I'm writing from my little 'bolt-hole' in the country. A tiny place more or less in the middle of nowhere, in a hamlet comprising maybe twenty houses. Absolutely nothing flash. Woodburner stove (though unlit right now), had to fight my way through shoulder-high grass to get to the door, but snug as a bug in a rug now.
The oilfield was my life.
Sure, had other pastimes; Journalism. Truckracing. Speleology. Poker.
But the heck with the past tense, they're still with me now.
But 'oilfield' isn't a 'job', even if it's what paid the rent. It's (if one's properly into it) a 'way of life'.
The rug got pulled out from under me back when 2014 the crude price plummeted. And despite a few aborted attempts, and despite some offers at ridiculously low pay or abominal conditions, gave up on the idea of actively 'getting back in'. Have resigned myself to being one of the 'been there, done it' mob instead. Despite trying to keep as up-to-date as possible as to latest technology and what's going on.
But all that past knowledge and experience? No, I don't mind passing it on, for free. And also continue using it, to analyse what's still going on...
For me? Hey ! I want to see Hurricane succeed! Firstly because I want to make a bit of money (obviously), but I believe in the 'Hurricane Energy' story and Dr Trice's ideas. I've yet to meet him, but I'm sure we'd get on fine, as one oilman to another. (Except I don't like cigars.)
This BB is full of all sorts of rubbish of late. Some people might consider this post to be rubbish, as well. But that's their problem. If there's a tiger in the room, I want to be the one to comb its whiskers.
"They're better-built, now!"
Probably, but my experience is last 5 years. And not so well built. In fact, multiple, expensive failures.
Again, possibly different ESPs and possibly a much different environment.
One issue is that these pumps would have been specified and sized before the well flowing conditions were 'known'.
Modestus,
"Hello adoubleuk, i do hope you are willing to share your views with the company itself too. It would be a shame you only take time and effort to write your well founded views on a BB too full of punters when perhaps you could find an open ear at HUR. Sorry if this sounds naive. "
Thank you. Though it is just maybe a little bit naive.
As regards my 'suggestions', at the moment, and regarding the ESP subject, I see no reason I should contact the company about it, because I'm damned sure they're probably thinking upon exactly the same lines, maybe as an option, maybe already implemented. They don't need my help, because they've got a lot of people just as brainy as myself already on their payroll !
For me, though, it's a sort of game. I have no more information than anyone else here, but like to figure out from it what's actually happening, and what will come next. Or what's ACTUALLY happened!
OK, I've made some disastrous calls, especially regarding Warwick Deep. But equally, that was strange, because I was also at the same time receiving some very odd information, unasked-for, from some people I'd never even met.
However, yes, I do sometimes contact 'Hurricane Towers' but only if I have very good reason to. And just once or twice, with a suggestion. And even if my suggestion may have been passed on, I never receive acknowledgement for it. I was pleased as punch to see 'pre-laying' of rig anchors for the last drilling campaign. But maybe it was just coincidence.
Cocopops,
"Ok, granted I maybe don't know much about these particular ESPs. I've only been dipping in and out of the technical detail so I had not appreciated the use of these ESPs to balance production as opposed to simply boosting it.
I must admit that one of my early concerns with these wells was the potential need for ESPs as I've seen sub-surface ESPs craap out in no time at all on a few occasions. As you are no doubt well aware, that is one very expensive workover and I for one have been very happy that they have not been required. Maybe these are more robust though."
OK, in that case, forgiven, but just this once !
But with a proviso. A warning, almost. Lots of people come onto this BB with some somewhat half-baked semi-technical 'knowledge' based on maybe even past experience of some of the stuff involved. Yeah, you're right. ESP can be (or especially used to be) she-dogs ! Many were the N.Sea winter nights I spent as part of a rig-crew in the early '80's tripping an ESP completion out of the ground in the pouring rain and wind, covered in oil-base, just 36 hours after we'd run it in! Because the mother just ran for an hour and burned out on underload or something like that. 'Happy days? ?' Yeah, well, sort of.
They're better-built, now!
But the potential to use one on Lancaster to 'stabilize' things? Or 'balance production' as you put it? Not impossible. A topic which cropped up a couple of weeks ago, I twisted off in my usual way about it, but seems like Hammam are thinking the same thing.
All I'd like to know is why they're not fully commissioned and able to enter the game now. And CV19 is a lame excuse.
DC,
"Although addressed to you the questions are really ones that I would like to have answers from the Company.3
Yes, and me too !
I have no 'inside knowledge', and the way things seem to be going, I'm not flavour of the month with quite a few people, so what few 'whispers' I get here or there are drying up. Probably because I'm pretty dam good at figuring out what's actually happening though very incomplete knowledge.
You're asking pertinent questions, ones which I'd like answers about, as well. The trouble, is, the sort of ********s who get the airtime on things like the CMD aren't asking those questions.
For me, quite frankly, there are now three (dual) questions, which come back to more than six months ago. (1) Is produced water-separation part of the train fully functional? If not, why not? (2) Is the FPSO now being fueled by produced gas? If not, why not? Are the ESP VSD control-systems now functional? If not, why not?
As an LTH and now quite a longtime follower of this story, I can't say I'm exactly over the moon with the current state of things. I don't understand the enlargement of the BoD when surely they ought to be drawing their horns in, I was upset by the unexplained departure of Stobie, (and wouldn't trust his temporary standin further than I could throw him), I consider the 'Production Director to be ... well, just another..... 'production hand', and have a horrible feeling that the CEO is getting pushed to the side and to a slight extent losing the firm 'direction' of the company he formed.
These things bother me, I'll admit.
Maybe, if there's a further 'meeting' for shareholders, some of these questions might be addressed.
Ok, granted I maybe don't know much about these particular ESPs. I've only been dipping in and out of the technical detail so I had not appreciated the use of these ESPs to balance production as opposed to simply boosting it.
I must admit that one of my early concerns with these wells was the potential need for ESPs as I've seen sub-surface ESPs craap out in no time at all on a few occasions. As you are no doubt well aware, that is one very expensive workover and I for one have been very happy that they have not been required. Maybe these are more robust though.
Hello adoubleuk, i do hope you are willing to share your views with the company itself too. It would be a shame you only take time and effort to write your well founded views on a BB too full of punters when perhaps you could find an open ear at HUR. Sorry if this sounds naive. Thank you once more for your time and efforts!
Cocopops,
"I'm not sure what all the panic is about the ESPs. "
I don't wish to seem insulting, but I do fear you're out of your depth here, and like many recent pozsters just picking up on some technical jargon without much of a clue what you're talking about. No, there is no 'panic' about the ESP's. You're correct in that; In the same way there's no 'panic' about anything operationally, except some 'panic-merchants' like to think that shutting-in 7z for the moment spells doom and gloom and the end of Hurricane, Lancaster, Fractured Basement plays, and so on.
¨"The wells (both of them for a wee while) are flowing happily without them so let them flow."
No, they are not. 7z is turning out to be something of a ginger-haired stepson, causing some trouble, and has been shut in for now.
"ESPs will often have a relatively short lifespan compared to the well. Also, they don't like being switched on and off and played about with. So...wait until later when everything is stable and they will give most benefit to the production."
In terms of overall well lifespan, let's say maybe 15 years or so, yes, ESP's may not last that long, and require a workover. But we're a long way away from that distant point up the road. And yes, they don't like 'on-off'. But what is it about VSD (Variable-Speed-Drive ) you don't understand, as you seem to be an expert about such things?
The point RIGHT NOW is that having the ESP's into the game is NOT to act as 'production enhancement' (as is usually the case), but instead to maybe (OK, just maybe), a way to 'stabilize' things, giving the 'right mix'.
I don't understand why the VSD's (and thus the ESP's) haven't been commissioned. Also, we now have all these new people on the BoD. Like a 'Production Director who appears brain-dead to me. There's a lot going on.
adoubleuk
noted and thanks.
Although addressed to you the questions are really ones that I would like to have answers from the Company. I just think about all the institutions that bought in at the fund raise and how those of them that remain view the current sp which seems to be at the mercy of itinerant day traders. Are there still sufficient holding to resist the low ball offer or has there been enough churn to lead to a shareholder majority that would be content to accept a sub 32p offer.
I'm not sure what all the panic is about the ESPs.
The wells (both of them for a wee while) are flowing happily without them so let them flow. ESPs will often have a relatively short lifespan compared to the well. Also, they don't like being switched on and off and played about with. So...wait until later when everything is stable and they will give most benefit to the production.
No hurry. They are not going anywhere!
awk - i am no oilie..though hur has been a learning curve on a lot of things.
I read somewhere that interference is a sign of a big reservoir...don't know if any truth but would be nice
Cap'tSwag,
"my interpretation of that RNS was that both wells can't run well together"
That's a fair interpretation. But with a proviso. They RAN OK together, but after five months, 'instabilities' seemed to occur with 7Z, which due to the immediate 'pressure communication' (ak interference) with 6, could have magnified the problem.
There are a lot of people here who are mixing up the 'instability' of 7z with the 'interference'. The 'interference' is in fact a GOOD thing! Even if it might be causing a few headaches right now, leading to the current 7z shutin.
I dunno; Let's try to find an analogy. How about a pair of identical twins, both of whom are brilliant. But one little sister likes ZZ Top while the other one prefers Mozart. It's a bit like that.
Not mutually exclusive, but Ms ZZ Top has been confined to her bedroom for a while because of all the noise. But get 'em both listening to the Grateful Dead and an amazing synergy might ensue...
DC,
A long post, but good to see someone else is still looking at what's actually happening.
A few comments in reply, just for discussion's sake, because it seems we're norw in a minority discussing such things. Or even having some knowledge of them.
"You know as well as I that RT's primary concern is the acquisition of data. "
Yup. Even though it mustn't be forgotten that such data-acquisition involves producing and selling some oil!
I was rather surprised when, in the recent announcement they said they only had 5months data from nearly 12 months production. "Why?" would have been a good question to ask at the AGM."
I think it's a nuance. It refers (to my mind) to six months' EPS 'stable' with the two wells, but after just 5 months, certain 'instabilities' were observed.
"6 production will be ramped up but I suspect only when RT is happy with his data."
The ramp-up will provide new data regarding 6, but not the EPS as a whole system, also involving 7z. Not quite 'back to the drawing board', but different parameters. Again, don't forget, the 'data-acquisitin process may seem longwinded, but it involves producing and selling product.
" Other good questions would be why were the ESP not commissioned and when do they expect to revisit 7z if only for a test."
Yes; Quite agree. I do not understand why the ESP's have not been commissioned, CV19 madness notwithstanding. It should be a priority now, and would only involve two, maybe three specialists going out to the installation. At the same time, it would be nice to get an update on whether the fuel-gas system is up and running, etc.. "
"This has led to a decision to shut-in the 205/21a-7Z well for the time being and return to a period of testing maximum sustainable rates from just the 205/21a-6 well. "
How long is FOR THE TIME BEING?"
I don't know, and we're not being told. OK, cut 'em some slack, I don't think the company knows exactly, neither. There appear to be a lot of unknown variables at work right now, CV&ç stupidity not being the least. But equally, like any good 'experiment', you can't go changing or modifying things willy-nilly in the hope 'something will work'. 'Cos that just leads to confusion.
Given that everything seems to be going OK so far (or at least we haven't heard the opposite), it's probably not a good time to make any 'sudden moves'.
How long is a piece of string?
(Answer: it's the measured depth between rotary-table elevation and your drillbit.)
dive centre - good post. I must admit I too was disappointed with the lack of progress on data collection - but I put it down to the water cut issues having messed things up a bit.
my interpretation of that RNS was that both wells can't run well together. so that means if you are going to run one then it has to be the more productive one. that's well 6. we know that it flowed 16500 naturally . I think he will try to get it up to that figure - obviously mindful that they cant really afford a mess up so carefully is the word. I hope that then they will commission the esp and then who knows what we might produce...might be as much as we can currently handle, in which case well 7 can be left until a later date if/ when needed or a when the macroeconomics are better.
great day. i always said i thought it would be heading to 9p in the next week or so..what shocked me was the speed at which it went through 8p first time round today. it didnt have the legs to stay in 9p and so the inevitable fall back.
be very interesting to see the movement tomorrow. i had two trading stakes that i cashed in today and if it drops tmrw i will buy back in for another trad(s) ...the long hold pot has a long way to go to get back to break even so just sits there.
GLA